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Home My WebLink About1458 •a ~~aR ~ av • ~ a .s.... . . . ' ^ ~ ' ~ . • • . ruUrn u~debti~lt~rs.. rnpnh~•nt~•d thr~~~br, thP ~lurtgagr~, its 1~~~~~. ,1?all. ~a ~•u~n~~utinK th~• u~uuw~t uf surli irtdebtrd~u~. ~•rrdit to tl~~~ a~•cowit of tbr ~lo~t ?8~?ur an~• ~•rrilit t?ului~~•~• n•u~aiuink un~l~~r ~h~• pro~•i.;iui:s of lx) of saiJ pu~repl~ 2. 1( tbe•r~• ~liull tx~ u~I~•fuu~t und~r anv ut tl~~ pmruu?us of ~lu~ iuort~uK~• m.ultiu~; iu a public sa1P of the pr~~u~~~c ru~~~red h~•rnb~•, or if tl~e ~lortKa~r~~ u~•yu~rc~ the pn~~k•rt~• othi~rH~4u~ uft~•~ d~•fuult, tlte ~lortgagee, us truatri~, sliull appl~•, at tbe tinu~ uf tl~~ ~•o~~u~u•nc•~~~ncnt of such pnx•~•r~liu~,~ or ut th~~ ti~ia• - ti~e pro~x~rty ia otla~rwi~• u~•quir~l. tl~c au~ounl lhcn n~iuuinitiK tu ~•rr~lit uf \lortKakur und~•r (a) ~~f ~?aru~?rNpi~ pn?cedinK ux a rnKlit on tla• intercµat accru~~1 and unpaicl an~l U?~ bulau~•~ t~ tlu~ Nru~~•ipul th~~n m~uniniu~; un~u?~d un said ttute. 4. He ~viU psy all tsxes, aeeeaements. water rste0. snd ot6er sovernmental or municipal chsrgea~ 6nee, os impoeitione, for which provision hae not, been made 6ereinbetore~ and ia default thereot the Mortgagee may psy tae eame; snd thut 6e wiU prompUy deliver the official receipt~ therefor to the Mortgsgee. b. He will permit~ oommit, or suHer no Maste, impsirment. or deterioretion oE said property or any psrt thereof. except reaso~oable wear and tear; and in the event of t6e failure ot the Mortgagor to keep t6e buildingia on eaid premisea ai:d t6oee to be erected on aaid premie~, or improvementa thereon~ in good repsir. the Mortgagee mey malce auch repe~i~ ea in its diecretion it may deem neoeesary for the proper preec.rvation t6ereof, and the tull emount of each and every such p~??yment a6all be due aad psyabk thirty (30) days dter demsnd, and ehsu be eecured by tbe lien of t6ia mortgege. 6. He will pay all and singulsr the ooats, chargea. and ezpenaea. includiag resaonable lawyer's feee, snd ooete of abstracts of title~ inaurred or paid ati any time by the Mortgagee becauee of the failure on the pert of the Mortgagor pmmptly and fully to per(orm the agreementa and oovenants ot said promiseory note and thia mortgage. and said ooeta, charges~ and expenses shall be immediately due and payable and shaU be eecured by the 'ien of this mort~age. 7. He will oontinuously maintain hszard insurance~ oi such type or types and amounts as llsortgagee may from time to time require, on the improvementa now or hecr,after on said premises~ and ~~cept when payment tor all such premiums h~ theretofore been made under (s) of pscagraph 2 hereoi, he will pay promptly when due snp premiums tl~erefor. All insurance shsll be carried in companies approved by I1lortgagee and the poli- cies and renewals lhereof s6all be held by biortgagee and have ettache~ thereto loes payable clausea in favor of ~ and in form acceptable to the 11Sortga~ee. In event of loss he will give immediete notice by meil to ~lortgagee, ~and ~iortgagee may make proaf of ioss if not made promptly by Mortgagor~ aad each ir~surance oumpany concemed is hereby sulhorized and directed to make payment for such loss directly to Mortgagee instead of to Mortgsgor and Mortgagee jointly, and t6e insurance proceeds, or any part thereof~ may be applied by Mor~ qagee at ~ts option eit6er to the reduction oi the indebtedness heresby secw^ed or to the restorataon or repair of the property dama~ed. Ia event oi foreclosure oi t6is mortgage or othet traasfer oi title to the mortga~ed property in extinguishment oi the indebtedness secured hereby, af I right, title, and interest oi the Mortgagor m and to any insurance policies then in force shall pass to the purchaser or grantee. If ih~~ pri•~uis~~., or un~- p~rt th~•r~r~f. tx• ronil~~~i~t?c•~I u~ul~~r thi• po~~~~r of c•n~iuent don~:~m. ur:tc•c~uir~•d for a publi~• us~•. tli~ du~i~uK~~ uH~nl~•~I. thi• pro~•~~~~~Is fur th~~ takink of, or thi• ro~?si~l~•rutiun for sw•h urqu4,ition, t~? th~~ ert~nt of tlie full t?t~iount of th~• rc•mainin~? unp+~i~l iu~l~~l?t~•~In~~s si~~•un•d h~• thi~ n~nrt~:~~;~~. ar~• h~r~•b~• - us.ikned to tlu• ~loriKa~i~~~, uu~l lii. h~~in or i?_::i~u., :?n~l sl~all tx• puid forih~~•itl~ t~ sui~l ~lurtr:?~:r~• or hi, ~ a~tii~;net~ to Ix~ appli~•~I ~?u a~•~•~unl ~~f th~• lu:t uiuturi~~~ inct:tUnit•nls of su~•h iudi•bt~vln~~:.: pruci~l~•~I. !u?~~•t•~•~r, tlie \Iort~;ak~~~~ or hi, :~.c;ikn~•~•, uiu~' ut l~is di..~•r~•uuu pti~- dir~•~•t to tlie ~Iortrvkor, h~. h~•ir~ ur u:.,irn, uu~- purt ~ or all uf ,uc•h u~~-ard; pro~i~l~•~I. tl~:it if th~• louu i~. #:uar:~n~~•~~~I or imun~d, th~~ ~•on.rnt of iL~• ~;u:~rauit~~r or i~i.ur~•r is uhtuim~d in a~l~anc•~ of .ai~l pu}-n~rnt. The lriortgagee may, at any time pending a suit ~ipon this ciortgage, apply to the oourt having jurisdiction theceof for the appointment of a receiver~ and sach oourt shall forthwith appoint a receiver of the premises co~ered hereby all and singular, including all and singular the income~ proSts, issues, and revenues from what,~ver source derived, each and every of which~ it being expressly understood, is hereby mortgaged ss if specifically set forth and desr,ribed in the granting and habendum clauses hereof. Such appointment shsll be made by such caurt as an admitted equity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or insdequacy of the value of the property mortgaged or to the solvency or insolvency of said 1liortgagor or t:~e defendants. Such rents. profits. income~ issues, and revenues shall be applieJ by such receiver according to the lien of this mortgage snd the pra~:tice of such court. In the event of any default on the part of the Mortgagor hereunder, t'ae Mortgagor agrees to pay to the 1liortgsgee on demand ss a reasonable monthly rental for the premises an amount at least equivalent to one-tweUth (yf z) of the aggregate of the twelve monthly installments payable in the then current year plus the actua! amount of the annual taxes, assessments, water rat~es, and insurance premiums for such year ( not o~vered by the aforesaid monthly payments. E 10. In the event ot any b-each of this mortgage or default on the part of the Mortgagor; or in the event that any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the event that each and every the atipulations, agreements~ conditions~ and oovenants of said note and this mortgage~ sre not duly, promptly~ and fully performed; then in either or any such event. the said aggregate sum mentioned in eaid note then remaining unpaid, with interest acerued to that time, and all moaeya secured hereby, shall become due and payable forthw'sth, or thereafter~ at the option of said ~lortgagee, as fully and co~npletely ~s if all of the ~ said sums of money were ori~nally stipulated to be paid on such day~ anything in said note or in this mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee. without notice or ~ de~and, suit at law or in equity~ may be prosecuted as if all monzSs secured hereby had matured prios to its institu- 0 tion. The Mortgagee may foreclose this mort~age, as to the amount so declared due and payable, and the said premises shall be sold to satisfy and pay the san,e together wit6 oo~ts~ expenses~ and allowances. In case of partisl foreclosure of this mortgage~ the mortgaged pmmises shall be sold subject to the continuing lien of this mortgage _ tor the amount of the debt not then due and unpaid. In sucts c;ase the provisions of this paragraph may again be svailed of thereafter irom time to time by the 1liortgagee. I 1. No ~vaiver of any covenant herein or of the obligation secured 'nereby shall at anS ti-ne thereafter be 6eld to be a waiver of the terms hereof or of the note secuied hereby. ~ 12. The lien of this inscrument ahall remain in full force and eRect dunng any poetponement or extensi~ of ~ the time of psyment of the indebtedneas or any part thereof eccured heret,y. ~ If the Mortgagor default in any of the covenanta or agrePments oontained herein. or in said note, then the Mortgagce may pedorm the same, and ap expenditwes (including reasonable attorney's fees) made by the MottgaAee d in so doinK shall drew intecest at the rate pm~ idcd for in the principal indebtedn~~ss, and shall be repa~ able ~ tl?irty (30) da}•s a[ter demand, and, together witl~ inter~t and costs accrued tt~ereon, shall be secured by ~ this uiortgage. ~ 14_ Upon the request. of the Mort~a~ee the tlortga~or shall ea~ecute and deliver a supplemental note or notes for the sum or sums ad~anced Dy tLe ~Iortgagee (or the alteration, modernization, impro~ement, main- tenance, or repeir of said premise~, for taxc~ or as.~cssmenls against the same and tor aa~ other purpose sut6or- ized hereunder. Said note or notes shali be secured hereb~ on a parity ~sith and as fully as if the acl~ance e~ idenced thereby were included in t,he note first described at,ove. Said supplem~ntal note or notes s}~s11 bear interest at the rate pro~ ided for in the principsl indebtedness ancl shall be pa~ able in a~pro~imately equsl ~ ~ monthly paymcnts for such period as may be a#;reed upon by the creJitor and debtor. I~ siling to agrec on the maturity, the whole of the sum or sums so advanced shall be duc and pa~•ablr thirt_r' (30) da~s a(ter dcmand ~ by the creditor. In no e.anL s6all t6e maturity extend beyond t,he ultimate ciatwity of t6e note 6rst described above. b00K ~ P~6f i~~~ _ ~ ~ - - - _ ~~,Y~ - ~-~~;~x - _ > . - ~ - -