The URL can be used to link to this page

Home My WebLink About1744 ~@Ill~l`I' ~U ~~lP ~Tl)I'~Kil~!•P 111 LLl•l'llfl~NllCl` N'llfl UtP liU~ 1SIUIIS UI IlN• ~a-~ u~c~~ ~~a-~a-~~ ~u~ rutirn in~lebtcK~~u~s rrp~~~ruted tii~•rr.b~•, 11~N `+lortga~i~e, ur trusi~•~•. .I~all, in ~•u~.i,~utii?K th~• an~~~uut of such inJebtrdu~as~ crr~lit to tl~i~ a~•~•ount of tlie Llurtg~Kor un~• ~•mdit bulun~•e mmaiuii~~ u~al~•~ tl~~~ pm~•i.+iun. uf (a) of said paragrapl~ 2. I~ thrrn shall bc ~ defdull w~~~~r an~ ot th~• pro~•iyiou~ uf tbi, u~uct~aKi• ~~~ultin~ iu u public se?le of the pn•mi~~s ~~~errd hc•nby, ur if th~ ~1o~t~~~~• u~•yutr~ the pn~~K•rt~• otlu~rN•~u• e?t~~~r ~Irfeult, tl~e ,lart~age~, ua Iruatr~•, shall nppl~, ill lI1P lU1lP U~ IIIP t•on~nu•nceweut a( sucl~ prcx•~~r~liu~,?s or at tl~r tinu• ti~e pcopert~ iss otherwuc u~•~iuirnd, tl~e autount tl~eu rr~uainiax to ~•nYlit o! ~lortKe?~;ur uml~•r (a) of ~?urukrupl~ 2 prectKlinK es ~ rr~lit ~~n ti~~ inten~t se~•rurd and unpaid and thP balan~•~ to tlu• princ•ipal th~~n m~nainin~? uupaul u~? said nute. 4. He ~viU psy alt taxes, anee~smeate. wster n?tes, aad oLher goveramental or municiPV ~har6es. fiaes. or impoeitione. for wbich prov~sioa has not beea made heceinbefore~ aad ia default thereof ihe ~ortgagea may psy L6e eame; and thst he wiU promptly deliver the o~cial reoeipt~ tberefor to the Mostgagee. 5. He will permit~ eommit~ or suBer no waste, impsiranent~ or detcrioretion of eaid property or snp p~ thereof exoept reaeonable ~rear and tear; and in tbe event of t6e failure of the Mortg,sgor to keep the building~a on esi~ premises and thaee to be erected on ssid premiees. or impmvementa tbeceon, in good repair. the Mortgagee msy m:?lce auch rep~i~s sa in ita discretioa it may deem aeeeeeary tor the proper preec.rvation thereof. and We full amount of each and every euch psyment shall be due snd p?yabk thirty (30) dsys aiter demand, aad sLall 6e eecured by the lien of this mortga6e. 6. He will psy ult and angular t6o ooete. ehsrBee, snd e~pe~ including reasonable laayer'e fees~ ~?nd ooets ; oi abstracte oi titte, incurred or pnid st any time by the Moctgagee becsuee of the failure oa the part of the Mortgagor ; promptly and fully to pedorm the ag~eements and covenanta of said promieeory note snd thia mo~,g~ge, and said ~ ooa~,s, cbargea, and ~acpenses shall be immediately due and p'?yable and shaU be eecured by the lien of this mortgage. 7. He will oontinuously maintain hazacd inaurance, of such ~ype or types snd amounta ag Mortgagee may from time to time require~ on the improvementa now or hereafter on said premises, and eacept when paymenL tor stl such premiums has theretofore been made~under (s) oi paragraph 2 hereof, he will pay promptly when due any preminms therefoc. All insurance s6a11 be csrried in comPanies approved by 111ortgagee snd the poli- cies and renewals t6ereoi shall be held by Mortgagee and have attached thereto loss payable cfauses in favor of end in form acceptable to the ~iortga~ee. . In event of loss he v~ill give immediate notice by mail to Mortgagee, and \iortgagee mav make proof of ioss if not made promptly by Mortgagor, and each insurance oompany i ooncemed is hereby euthorized and directed to make payment for such loea directly to Mortgagee instead of t,o 141ortgagor and 3iortgagee ointly, and the insursnce proceeds~ or any part thereof. may be appLed by Morw gagee at its optic~n either to t~e reduction of the indebtedness hereby secured or to the restoration or repair of the property damapeJ. In event of foreclasure oi this mortgsge or other transier of Litle to the mortga~ed pmperty in extiagwshment, oi the indebtedness secu:ed hereby~ s~i nght, title, and inte.rest oi the Mortgagor m and to any insurance policies then in lorce ahall pasa to the purchsser or grantee. R_ If tlie pri•~ui+~~, or un~• purt tla•rnuf. lK~ condi•i~~ned un~ler th~ po~~~•r of et~iit~~ut ~Im~~um, or iu•quired for a public us~~. lhe dama~~~s aHUnlc~l. th~• pmr~~~~ils for th~ tukink of. or th~• ~onsidc•CilllAli ~OI' SUI'II ilCl~ll4ti111011, tu the extent of tlie full amount of tlu~ r~•nisiniuk unpuid 'endrl~te~~lnc~.s s~Y•ared b~- tliu niortku~;~•. arn lu•mb~- ua,i~u~~d to th~~ ~IortKaKe~•. und hi.. hc•i~ ur u~.~;:n., un~l •hall IH~ pai~l fortl~with to ~uid ~tortk~~:~•~ ~r t?i: ua,iKnee to lx~ applit~~l c~n a~•~•out~t ~~f thi~ lu.t n~utunu~ ii~•tAllnu•nts oi su~•i? ind~~bt~•duihs; ;~tY~~-i~l~~ii. hu~~~•~-er, the \1ort~;aKec~ or h~s a.c,iKu~~~•. iuu~- ut lii~ du~•n•tiun pu~- dir~•rt to thc~ ~fort~+~~;or, l~i. h~•in ur u:,irns an~• pnrt or ell ~i[ su~~l~ u~~~anl; pm~•ul~~~l, Ihut if th~• loau is ~;uar.~nic~rd or iu~uri•d, tt~~ ~•on~•nt of tht~ guaruntor or it~sur~~r is obteined in ad~•an~•e o( said pu~•nirnt. The Mortgagee may. at any time pending a suit upon this mortgage, apply to the oourt hsving juriadiction thereof t~r the appointment of a receiver, and such court shell forthwith appoint a r~c:eiver of the premiees oovered hereby all and singular~ includiug all and singular the income~ pro5ts, issues, and revenues from whatever source derived~ each and every of which, it being expmssly undeistood~ is hereby mortgaged as if apecifically sei forth and _ described in the granting and habendum clsuses hereof. Such appointment shall be made by such oourt as an admitted equity and a matter of absolute right to said MorLgagee, and without reference to the adequacy or inadeyuacy of ' We value of the property mortgaged or to the solvencS or in~olvency of said ;Vlortgagor or the defendanta. Such rents~ profita. income, issues. and revenues shall be appliecl by such reoeiver acoording to the lien of this mortgage and the practice ot such court. In the eveat of any defsult on the part of the Mortg,agor he*eunder, the Mortgagor 'i agrees to pay to the ~1lortgsgee on demand as a ressoneble monthly rental for the premiaes an amount at lesat equivalent to one-twelft6 (~Z)_ of the aggregate of the iwelve monthly installments pm~yable in the then current year plus the actual amount nf the annusl taues, asse~menta, water rstes, and insurance pr~miums for such year C not ooveted by the sforesaid monthly paymenta 10. In the event of any b-esch 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 accord~'ng to the tenor herEOf, or ic the event that each and every the atipulations, agreements~ oonditions, and covenants of said note and this mortgage~ are not duly, promptly~ and fully performed; then in either or any such event~ the said aggregate sum mentioned in said note then remmining unpaid, with interest accrued to that time, ri~.d all moneys secured hereby, s6all become due and payable forthwith, or thereafter, at the option of said Mortgagee~ as fully and completely xs if all of the esid eums of money were ori~inally scipulaced to be psia on such day~ anyt6i~g in said note or in ttiis mortgase to the contrary notarithstanding; and thereupon or thereafter~ at the option of said Mortgagce~ without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had matw~ed prior to its institw tion. The Martgsgee may foreclose this mort~age, as to the amount ~o declared due and payable, and the said premiecs shall be sold satisfy and pa~ the same together with ooste~ expenses~ and sllowances. In case of partisl - forecloeure of this mortgage~ the mortgaged premises shall be sold subject to the aontincing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the provisions of this paragraph may again b~s availed of theresfter from time to time by the ~Iorcgagee. 11. No ~vaiver of any oovenant herein or of the obligation secured hereby shall at any time thereafter be 6etd to be s waiver of the terma hereof or of the note aecured hereby. 12. The lien of t6ia inscrument ahall remain in full force and e6ect during any postponenent or extension of the time of payment of the indebtednc~s or any part t6ereof eecured hereby. 13_ If the Mortgagor default in any of the covenanta or agreements oontained herein~ or in said note, t6en tho ~ i~iortgagee msy pedorm the same, and all ezpenditures (including reagonable attorney's fees) made by the Mor'~gaRee ~ in so doin~ shall draw interest at the rate provided for in the principal indebtedne~ss, and shall be repa~•able ~ thirty (30) days e[ter demand. and, together witli interest and costs accrued tt+ereon, shall be secured by this mortgage. 14_ Upnn the request of the 11~fortga~ee the iltortga€;or shali execute and detiver-a supplemental note ~r notes for the sum or sums aci~anced by the ttortga~ee tor the alleration, modrrnizatiai, improvcment, main- tenance, or repair of ssid premises, for taxcs ~r a~e~m~nls against the sar?~c and (or aa~ other pur~ auttior- ized hereunder. Said note or notes shail Ge secured hereby on a parit,y N ith and as full~ as if the adrance evidenced thereby were included in the note 6rst described abo~ e. Said supplemental note or notes shall bear interest at t6e rate pro~ ided for in the principal indebtedness and shal! be pavable in appro~imatrl} equal monthly pay mPnts for such period as may be a~reed ~~pon b~ the creditor and debtor. FailinR to agree on the maturity, the whole of the sum or sums so ad~anced shall bc due and pa~•able thirl,~ (30) days after d~mand by t6e creditor. In no event shall the msturi~} e~ctend beyond t,Le ultimate ziaturity of t6e note first described sbove. BooK2~ ~ar~l'~~~ - - - - - - ~ : , ~ - ~ 2 , ~ _ ~ ~~k~ ; - _ ,