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Home My WebLink About2732 tender to the Morigagee in accordancs with the proviaions of tl~e note secw~ed I?erebr, fuII pe~rment ot the eatire indebtedneea sepresented thereb~~~ the 1liorigsgee, as truslee~ shaA, in con~puling tl~e suiount of suclt indebtednesa~ credit to the account ot t~e Mortgagor any ereciil, balance temaining under tlie'pro~isions ot (a) oI ai?id p reph 2. 1[ thern shall bc a default undcr etn~ ot tlie pmvisioua o! tliis ~nortgsge resultin~ i» a public se?l~ t}~e premises covered heceby, or if the Mortgagee acquirea the pmpert~ ot}ierwise af~ec default, the Mortgt~gee, ~s trustee~ ahall apply, at the time of the conuiiencement of such proceedings or at tl~e ti~~ie the propert~ is otherwise scquired, ll?e amount then X+emainin to credit o[ ~Viortgagor under (a) of paragrapl~ 2 pn?ceding aa a ctedit on tl~e interest i?ccrued and unpaid and ~e b~loure to tLe pizi.cips2 Lhen reuiaiuing unpaid on said note. 4. He will puq all tsxea, aneeeementa, w~ter tstes, snd oWer governmental or municip~i charg~ finea or ianpoeitione, for ~rhich proviaion bus not been msde hercinbefore, and ia default ther~of the Moct~gagea ma?y p~y the same; and tbst he will promptly deliver the oS'icial reoeipta Wemfor to Lhe Mortgagee. b. He will permit, oommit~ or suffer no ~raate, imps?irment or deterion?tion of eaid propeity or ~?ny pm?rt thcreof e~ccept reae~nable ~rear snd tear• sad ia the event of tbe tai~~u+e at the Mortg~rgor to keep tLe buildings on eaic~ Fcrmieoe and thase to be erect,e~ 3n aaid pcemis~:a. ot tmptunremen;,s Lliueun~ m~~al rrpeur the Mortgagee maY make euch rep~ies ae ia ite diecreLion it ansy deem ne~seary for the proper preservation thereo~, and the full amount o[ each and every ~uch payment e6a11 be duo aod pqyable thirty (30) da,Ys aiLer demand, s~ad ahall be eecured by tLe lien ot t~e mortgege. _ 6. He ~rill pey sll end eingtila~e tLe eoste, and ea~pe~neee, including reasonable lawyer'a leee, und ooeta of sbstracta of title~ incurred or peid st sny tiu~ by~origagee becsuee of the failure on the part of the riortgagor p~omptly and full to perform the a~eement8 and oovensnta of eaid promiseory note e~nd this mortgage, and said ~6~, ~~P~ shsll be imancdiste~y due aad pe4Yabie aad ahsll be eocwred by the liea of thia mortgasge. 7. He will oontinuous~ maintsin haaard inaurano~, of such type or types snd smc~unts as Asortgsgee mey - 0 trom time Lo time require, on the impmvementa now or Lereatf~er on eaid pnmises and ezoept when paymenti tor all suc6 premiums bas tLeretofore been msda under (s) oi psragra~h ~ hereoi ~e will pay prvmptly whea ~ due an~ pr~miuma therefor. All insursnoe shall be csrried in o~mpswee appmve~ by Tio~g~;ee and the poli- cieB and renewais thereof ehall be held by Morigsgee and hava sttsched t6eteto loes paysble cfausee ia isvor of and in iorm acceptable to the Mo In event of lo~ he ~vill give immediate notioe by msil to I?Zortgagee, and Mortgagee may mske.prooi~~ if not made promptly by Mortgagor~ and e~h inauranoe oompany ooncerned ie Lereby~suWonzed and directed to make qyment for such losa d'uectly to Mo a~ee inatead of t~o biortgagor and Mortgagee 'ointly, and the i~urenoe pmoeeds, or sny part thereot may be applic~d by Mor~ - ~agee s~ its op~ion eitLer to t~e reduction of the indebtednees h9reby eecured or to the restorat~on or repair of . tLe propertj damaged. In avent of foreclosure of t6ia mor~ge~ or othe~r t~n~er of title to the mortgaged ~ropeaty ia eztingu~sbment of tbe indebtednees secured Lereby, ~11 tight, title, and interest of the Mortgegor ~n and to sqy ineuranoe policies then ia foroe sLall p~s to tLe purchaser or grantee. 8. Jf tlie pre~nises~ or sn~ part tl~~reot, be condenmed nnder the power o! enunent domain or acc~uirnd !or a public use, tlie damages srvsrcied, tl~e proceeds for the ~of or the consideration for suc•fi arquu~tion, to the extent o! the full smount oi Lhe renuining unpaid inde tec'Inees secured br this mortg~~~, arn hereb~ - assigneci to U?e Mortgagee, and his heira or assigne, and shall be paid lorih~rith to 8aid MortgaRee or lus ~ss~gn~ee to be applied on account ot the laat insturing installments of auch indebtedness; provideci, l?owe~er, the Mort~apee or hig assi~nee, n?sy at hia diecretion pa~ direct to the Morigagor, lus I?e'u~s or assigns an~ put or all ot sucji av?ard; provided, that ~f the loan is auaranteed or insured, tlie conesnt of U~e guaraulor or insunr is obtained in sdrance of said pa~inenG 9. The Mortgagee msy, st any time pending s sniti upo~n tLis mortgage~ aPP1Y to tbe conrt having jwriediction tbereof for the appointment of a receiver, and euch eourt ehall forthwith appoint t? receiver of the premises oovered , hereby all arid eingular, including all snd singular the inoome proSta, iasues, and revenues from whatever eouroe derived, each snd every of which, it being eacpressly unde tood, is hereby mortgaged as if epecifically eet fort~ and ~ deecribed in the 6ranting and habendum clauees herc~of. Such appointment shall be made by such court as an admitted ; equity and s matter ot absolute right to eaid Mortga6ee, and ~vithout reference to the adequacy or insdequacy of ~ the value of the property mortg,aged or to the eolvency or ineolvency of said Mortg,agor or t'se defendants. Such i rents, profita, invome, iesuee, aud t~evenuea ehall be sppliecl by euch reoeiver sooording to the lien of this mortgage snd the practaee-of euch oour~. In the event of sny deisult on the pnrt of the ll~iortgagor hereunder, the Mortgagor ~ agrees to pay to Lhe Mortgagee on demand as a reseonable mont~ly rental for the premises an amount at lesat ~ equivalent to one-tweltth (~2) of the agge'eg~ate of the t~velve monthly insta.llmenta payable in the then current ~ year plus the ~ctual amount of the annusl taxee, ~eeesnnents, t~?ater satea, and insurancs premiuma for euch year not oovered by the aforesaid monthly peymente. ~ lO.In the event of any breach of this mortgage o~r detsult on the psrt of tbe l~iortgagori.or in the event that ~ snq of eaid aums of money herein refened to be not promptly and fully paidaccording to the tenor hereof, or in the ~ event t~at each and every the stipulations, agreement8, oonditions, and covenants of esid note and this mortgage, are not duly, promptly, and fully performed; Lhen in either or any such event, the said aggmgate aum mentioned in said note then remaining unpaid, ~-ith interest accrued to that time, and all moneys eecund hereby, shall bea,me due and payable forthwrith, or thereafter, at the option of eaid Diortgagee~ as fully and oompletcly as if all of the aaid aums of money were originally etipulated to be paid on sucL day, anyi,hing ~n said note or in this mortgaqe to the oontrary notwithstanding; snd thereupon or thereafter, ~t the option of said 1~iortga6ee, without notice or ~ demand, suit et law or in equity, may be proeecuted as if all mone~~a secured hereb3 had matured prior to its institu- ~ tion. The ~iortgagee may foreclose this mortgage~ a8 to the amount eo declared due and payablc, and tt?e esid ~ premises shall be sold to satisfy and pay the same together with costs, eapenses, and ellowances. In cxse of partigl ~ foreclosure of this mortgage, the mortgaged premises shall be sold subject to Lhe continuing lien of this mortg~e b• !or the amount of the debt not then due and unpaid. In guch caee the provisiona of t6ie paragraph may again bbe ~ svailed of thereafter irom time to time by the 1?iortgagee. ~ 11. No w~aiver of ~nq oovenant herein or of the obligation eecured bereby ahall st sny time thereatter be held ~ to te a waiver of the ternoe hereof or of the note eecured hereby. " l2. T6e lien of thia instn~ment shall remain in full fo~oe and eRect during ~ny postponement or exteneioa of the time of payment of the indebtedness or sny psrt xhereoi eecured hereby. ~ 13. If the 7?+iortgugor def~ult in any of the oovenanta or agreementa oontained berein, or in eaid note, t}KU 1be u=' ]uiortga~ee msy perform the same, and all e~cpenditurea (including rea.9onable attorney's fees) made by the MortQa~ee ~ in ao doing ahall draw interQSt at the rate provided for in the principnl indebtedncss, and shnll be rnps~~able ~ thirt~ (30) days aiter demand, snd, together with interos6 and costs accrued tLereon, ahall be secured by ~ this mortgaeo. ~ 14. Upon the request of the Mortgagee the Dsortgagor s6n11 execute end deli~er s aupplemcntal aote or r~;, ~~z notcs for the sum or sums ad~anced by tbe Ztortgagee for the altention, modcrnization, impro~cment, is.Aia- tenance, or mpair ot said premiscs, for taxes or as.~essm~nts against the same and for ~ny other purpose author- ~ ited 6ereunder. Said not,e or notes al~all be secured hereLy on a parity ~vith and as fully as if the adrance ~ evidencecl thereby w~ere included in t~~e note first described above. Sa~d supplemental note or notes shall bbar interest at t,he rate provided for in the principnt indeLtedness and siiall be pa}able in sp proximatcly eqiia ~ monthly pnti•m~nts for ~ach period as mny be a~reed upon by the creditor and dcbtor. Fsilin~ to a~;rec on th~ ~ maturit.y, tf~e v~-hole of tt?e sum or s~ims so ad~•anced ~haU bc d~~e and pa~•ahle tl~irt.v da}•s after d~~mnn~l by U~e cr~ifitor. In no event sLell LLe niatutity eat.cud bej'ond tLe ultiiuale uaturity uf tLe note fins6 described above. F ~kK 2`~ 2731 ~ ~ ~ . . _ - . 4 „ ~ r~-~=~-~