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Home My WebLink About0967 •1i t~•udcr tu th~• ~lort~;u~~~~~ iu u~•~•urduu~•~• N•ilh thr pro~i.,iuuR ot tlu~ not~~ srcun•d h~~r~~b~•, fuU E~a~•t~~cnt of thi~ eutire indebtedu~~s ~rpn•,Nntrd th~~mL~•, tl~r \lort~;u~ee, a.y trus~~•~•, sl~nll. in co~iiputinK th~~ auiount of suel? u indeblydu~~~ ~•rNdit to th~• u~•~~ow~t of 1~?e ~t~~rt gaKor nny credit I~alunrt~ reu~ainin~ und~~r !h~• pn~~isians of (uj of said peraKraP}~ 'l. It tla•r~~ yhdll tk a~lefuult und~r an~• ot Ih~~ pro~•i~ions of this n?ortguge rnsuhiu~ in a public sale ot the prnuiu~•s ro~•rred licreli~ ~ or if the ~tortgagre a~•yuues the pro~x~cty otl~Nrw~ a(tcr ~iefsult., the ?~lortgagee, ua tru~tee, shall appl~. at tl?e tuue of the rauii~enceu?ent of sucl? proc•~~e~liu~,'s or at the time the propert,~• ~ otherwi~e a~•ryuired~ the amount tl~en r~•iusininR to c•re~lit of ~tart~a~;ur under (a) of paraKraph:2 precedinK +~a a crndit on the inl~•n~st accrued and unpaid and tl~e balan~•e to the pr~neipal 1h~~n rn~nainin~ unpaid un said note. 4. He ~riU pay stl taxee, a~eements, wster retee~ snd other 6uvernmental or municipal ehsrge0. 6ae0. os iu~poeitiona, for which provision hsa not been made hereinbefore, and ia default thereof the Mortgagee mqy pe?Y the ~e; i,nd that he will pramptly deliver t6e o~cial reoeipta therefor to the Mortgagee. b, ge ~rill penni~~ e~ommit, or euHer no waste, imp~?frment, or deterioration of said pmperty or `s~n~~ ,part thereof _f •L~ l~:l..~ w~ •1.s ~n~4sssA! *A ~[PP.~I ~A DULQ~ZI~ Dn except ressonable wear and tear; anu in i;ua evc~,i :,:;o ::u:,::~ -.-_=-~=o== ~ - - premi~ee and thaee to be erected oa ssid premiees, or impmvementa thereon~ m good cepair the Mortgagee me?Y m~ice suc~hd eve~ su h 1Le yment ahall be d e and psn~y fthirty (30) d ysp after d~emand, an~d ahsll be seoured by of each ry P~? the lien of Lhie mortgage. . 6. He will pay all and singular tLe ooete, ~ and expenee8, including reaaonable lswyer'a fees, aad ooete u; sbetracta oi title~ incurred or psid at any time by t e MortgaBee becauee of the failure on the part of the Mortgagor pmmptly and fully to pertorm the agreements and covenants oi eaid promieeury note and this mortgage. and eaid oosts, cbarges, and expenses shaU be immediately due and payable and shall be eecured by the lien of this mortgage. 7. He wiU oontinuously meintain hazard insurance, oi such type or types and aanounte ss Mortgagee may trom time to time require~ on the improvementa now or hereafter on said premises, and eacept P~ when to~ all such premiums hsa t6eretofore been msde under (s) of pacagraph 2 hereoi, he will pa9 P p y due any premiums thcrefor. AU insurance shall be car~ried in companies epproved by l~io~ee and the poli- cies s~d renewals thereof sh811 d by Mortgagee and have attached thereto loss psyable c auses in fsvor of and in form acceptable to the M~ee• In event of loss he will give immedists notice by mail to Mortgagee~ ~~[~rtono~ msp make proo oas if not made promptly by Mort~.gago~r~and, 'each inauran~ ~oomp~any ooncemed is hereby~authorized and directed to maite papmeni fue suc.. ~a.•= w=`~'~~.w -f ~t,o Mort,g.agor and Mortgagee jointly, and the insurance Pmceeds~ or a°Y part there°~, mey be app~ied by Mor~ gagee at ita option either to the reduction of the indebtednesa hereby aecured or to the restoration or repair of the property dama~ed. In event oi forecloaure of this mortgage or other transfer of title to the mortgaged property in extingu?shment oi the indebtedness secured hereby, afl right, title, and interest of the Mortgagor in and to any iasurance policies then in force shall pASS to the purchaser or grantee. R. If tL~~ premist5, ar un~• pur[ ther~~~~f. lx~ rondei~im•d w~~ler the poH~r of cmiuenl doi~?au?, or acyuired for a public use, th~ duu?nK~~s aHar~led, the pme~~~•ds for the tnking o(, or th~~ ~•onsid~rution for su~•1? acquu~tion, to tlu~ extent of the full amount ot th~• ren?uinin~ unpaid indebt~•~inrss cerumd i?~ tLis u~ortga~;e. ar~ hernb~- ussi~;nt•d to ih~• ~iortga~;ee. und Li. li~•in or a~siKna, un~l shall tx~ puid fortliHith to suid `tortgag~•~ or his a~si~nee to lx• applied ~?n ac•~•ouut uf th~~ lust uu~turi~?r instalLni•nts of su~•h inciebt~dnt~s: pm~ide•d, l~o~~~~~er, thc ~Iortgakc~• or hi.S ussiKn~~~•, Illil\' ill I113 ll4~l•r~~tiou pu~- ~lirei•t to tl~~ ~Iorira~?or. 1?is h~~irs or u.ccirns an~-.pnrt . or all of su~•1~ :?~~'ar~l; pro~'ulecl. tl~al if the loau is ~uarunt~~~•d or insurt~d, tlte consent of tl~e guarantor or insurnr is obtained in ad~•ance of ,uicl pu~•ini•nt. 9- The ;Vlortgagee may~ at any time pending a sait upon this mortgage, apply to tt~e oourt having jurisdiction thereof for the appointment of a receiver, and such court ahall forthwith appoint a reoeiver of the premisea oovered hereby all arid singular, including aU and singular the income, proSta, issues, and revenues from whatever source derived, each and every of which~ it being expressly underatood, is hereby mortgaged as if apecifically aet forth and desccibed 'in the grantiag and habendum clausea hereof. Such appointment shall be made by such oourt as an admitted equity and a matter of absolute right to said Mortgagee~ and without reference to the adequacy or inadequacy of ! the value of the property mortBaged or to the eolvency or insolvency of said Mortgsgor or t~e defendanta. Such ; senta~ profits, inoome, issues, and revenues shall be applied by such receiver according to the lien of thia mortgage ~ and ti~e practice of suc6 court. In the event of any default on the pact of the Mortgagor hereunder, the Mortgagor ; a~ees to pay to the Mortgagee on demand aa a ressonable monthly rental for the premi~es an smount at lesst € equivslent to one-twetith (3Sz) of the aggreg,ate of the twelve monthly installments payable in the then current ~ year plus the actual amount of the annual taxes, assessmenta, Water rates, and insurance premiume for such yesr not oovered by the aforesaid monthly paymenta . 10. In the event of any breac6 of this mortgage or default on the part of the Mortgagor f or in the event that any of said sums ot money herein referred to be not promptly and fully paid according to the tenor hereof, or in the ~ event that each and every the atipulationa, agreements~.conditions, and covenants of said note and this mortgage, are not duly, promptly. and fu11y performed; then in either or any s~ch event, the said aggregate Bum mentioned ~ in eaid note then remaining unpaid, with interest accrued to that time, and all moneya secured hereby, shaU become due and psyable forthwith, or thereait.er~ at the option of ssid Mortgagcc, as fu11y and completely as if ali of the said sums of money were originally 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 ~r demsnd. suit at law or in equity, may be ~rosecuted as if all moneys secured hereby had matured prior to ita institu- tion. The Mortgagee may foreclose this mortgage, as to the amount so declared due and payable~ and the said premises shell be sold to sat~sfy and pay the same together with coats. ezpenses, and allowances. In case of partisl foreclosure of this mortgage, t6e mortgaged premises ahall be sold aubject to the oontinuing lien of~ t~ mortgage for the smount of the debt not then due and unpaid. In such ca~ee the provisiona of this para~ap Y aga? ~ availed of thereafter from time to time by the Mortgagee. ~ 11 _ No waiver of any covenant herein or of the ohligation secured hereby ahall at any time thereafter be held to be s wsiver o~t the terma hereof or of the note secured hereby. 12. The lien of this instrument shall remain in full force and effect during any poetponement or extenaion of the time of psyment of the indebtedness or any part thereof eecured hereby. ~ 13. If the Mortgagor default in any o! the covenants or agreementa contained herein, or in said note, then the Mortgagee mey pedorm the same, and all expenciitw~es (including reasonable attorney's fees) made by the MortgaAee ~ in so doinR shall drsw interest at the rate providcd tor in the principal indebtedness, aad shall be mpa~ able ~<< thirty (30) days after demand, and, Wget6er with interest and costs accrued thereon, shall be secured by this mortgage. ~ 14. Upon the request of the vlortgagee the Atortgagor shall execute and deliver a supplementa note or ~ notcs for the sum or sums ad~anced Dy the ~tortgagee tor the alteration, modcrnization, improvement, main- ~ tensnce, or repair of said premises, for taxes or assessmenls against the samc anJ for an~ otl~er pur}wse author- ized 6ereunder. Said note or notes shall be secured hereby on a parity with and as fully as i( the adrance evidenced thereby were inciuded in Lhe note first described above. Said supplemental note or notes sha r ~ interest at the rate provided for in the principal indebtedness and shall be pay eble in approximatel~ equal mont h ly ps ments tor suc h peri o d as may b e s~ r e c d u p o n b y t h e c r e d i t o r a n d d eb t or. Failin g to a grec on the maturity, t e whole of the sum or sams so a:l~anced shall be due and pa~•able thirty (30) dsys after Jemend ~ by t6e creditor. In no event shall the maturity extend beyond I,he ultimate cieturity ot tt~e note first ~ descriaed sbove. ~ BOOK ~ PAGE JU~ ~ ~ ~ _ _ _ I . _ _ _ , _ - -