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Home My WebLink About0331 ten~l~•r tu th~~ ~lurt~;u~~•~~ ~u a~•~•~~nlunr~• w•~Ih thr ~,~~,vi~iu~~ti uf th~~ not~~ ,rcur~•~I her~~br, fult pu~•u?~~iU ut tlu• entire i~~debtedu~~a~ rNpr~~sNUted tht•rrb~•. thr \1ort~;a~~~e, a~ trus~r~•, .i~ull, in ~•u~ii~?utii~~? tla~ uu~uunt of suri~ ~ lndebt~~u~•s.g, ~•r~~dit to tlu~ n~•~•ount of I~u~ ~1ort ~e~ur un~• c•rndi~ l,alunce r~~n~ainin~ uncl~~r th~~ pn,vi~i~ai, o( (a) of seid paragrspli 2. If th~~rn shaU tx~ a ~i~•fNU~t un~lc~r au~• o( tlu~ prori.yicn~s of this u~ort~;u~~~ r~•sultiu~; in a public satP of tht~ pre~iii.,~•s covrrnd hereby, ur i! tl~e ~lorlgaq~~~ a~•quirc~ 1he pn~~x•rt~• oth~•rH•~s~~ aft~~r ~lefault, the b~ortgagce, as trust~~~~, shall appl~•, at the titHe of thP can~uc~nceuteut of sucii proc~~rdiu~?s or al tl~~ timr che pmpeny ia o11~Prwi~ arquired, tlie an?ow~t then r~~mainin~ to ~•~edit of ~lortKagor und~~r (a) of {?aruKraph 2 preceding xa a~•redil on tl?r interest ~trerued un~) unpaid and tFl~ balan~•~ to tl~e principal them m~iuiuin~; wipaid on saici note. ~ . 4. He wiU puy sll taxea~ aeeeesments~ water ri?tee, snd other governmental or municipat chsrges~ fit?ee, or Impoeitione, for w6ich provision haa not been made hereinbefore. ewd in defaul~ thereof the Mortgagea may psy t,he eame; snd Lh~t he will pmmptly deliver the o~ci~l n~oeipt~ theretor to the Mortgagea. b. He will pe:mit, oommit, or euQer no we$t,e~ uppairment, or deterioration of ssid pmperty or any part thereof e~ccept reseonable wear and t,ear; and in the event of the failure ot the Mortgagor to Iceep the buildings on esic~ premi~es and thoee to be erected on asid premiae~. or improvements thereon~ in good repair, the Mortgagee may make such repaire aa in its diacretion it may deem neceeeary for the pmper preec.rvation thereof. aad the full amount of esch aad every such psyment shall be due and psyable thirty (30) dsye stter demaad, snd ahall be eecured by We lien ot thia mortgsae. 6. He will pay all and singular the coeta, chargee, and expen~, including reaeonable lawyer'a fcea, aad ooets of sbstracts of title~ incurred or paid at eny time by the Mortgagee becauee of the failure oa the part of the Mortgagor promptly and fully to perform the agreements and oovenants of eaid promiseory note and this mortgage, and eaid oosta, cbargea, and expen~cs shall be immediately due and payable and ahall be eecured by the lien of this mortgage. 7. He will oontinuously maintain hazard insurance, of auch type or typea snd amounte as Mortgagee mey trom time to time require~ on the impmvements uow or hereatter on said premises and except when payment tor all sach premiums has tberetofore been made under (s) of paragraph 2 hereof ~e will pay promptly when due any premiums therefor ' All inaurance shaU be camed in oompanies approve~ by 111o ee and the poli- cies snd renewals t6ereot shall be held by Mortgegee and hsve sttached thereto loss payable c ausoe in favor ot and in form acceptable to the Mortga~ee. In event of loss he will give immediate notioe by mail to Mortgsgee, and ~iortgagee may make proof of toss if not made promptly by Mortgagor, and each insurance c~mpany concerned is hereby~ authorized and ditected to make peyment for such lo~s directly to Mortgagee instead of to Mortgagor and Mortgagee ointly, and the insurance proceeds, or sny part thereof, may be app7ied by Morw gagee at ita option either to t~e reduction of the indebtednesa hereby secured or to the restoration or repair of the property dama~ed. In event of foreclosure of this mortgage or other transfer of title to the mortga~ed property in ext,inguishment of tbe indebtedness secured hereby, a~l right, title, and intetest oi the Mortgagor m and to any insurance policies then in torce shall p~ to the purchager or grantee. S. If th~~ pre~ni~~, or u~~~' purt tLcr~~of. 1?~ ~•on~l~~nm~~~l under the poH•~r of emin~~nt ~lo~uum, or,icyuired for a publi~ use. th~ ~luma~~~s nH•ar~le~l, tlu~ pm~•~~i~~ls for thc tukinK oi, or th~• ~•onsi~l~~ralion for su~•L acquuition, to .th~• extent of th~• fuli amount of th~~ r~~iuainin~ ~~~pai~{ iiut~•Lt~•~In~•.s ~vuri~d b~- tLis ~nort~aKe. ur~~ I~ernb~. uasi~u~~tl lo ih~• ~1ortKs~~;~~. uu~l hi. h~•it~ ~~r u.,ir~~~, un~l ~1~:?Il b~• puid forth~rith to suid ~lortKa};r~ or his aasiKnee~ to Ix~ applie~~) on u~•~•ount ~if th~~ lust u~vlurinr i~r.,tnilni~•nt. of su~•h ind~•bte•~In~~~~: pm~•i~l~•d. ho~~-~~~•er, tlic ~1ortKvgc~~• or his :~.~..iKn~~~•. Ili.l~' 2l1 I113 IIL~/•r~~tion p:~~- ~lir~~~•t to ih~~ \Iortru~;or, l~is lu~it~ ur us.,ikn, an~~ part or alt of su~•h u~car~l; pro~•~~l~~d, thut if tiu• lou~? i. ~;u:+raut~~~~~1 or ii~ur~~l, th~• ron,eul of th~• gunrantc?r or i~isurnr is obtaiu~d in ed~•ance of ~ai~l pu~-nu~ut. `•1• The :4lorigsgee may, at any time pending a suit upon this mortgage, apply to the oourt having jurisdiction thereof for the appointment of a receiver, and such oourt shalt forthwith appoint a receiver of the premi~ea ooverEd hereby all arid singular~ including all and singular the income~ profits, issues~ and revenues from whatever source derived, each and every of which, it being expressly understood~ is hereby mortgaged as if apeci6cally eet forth and described in the granting and habendum clauses hereof. Such appointment ahall 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 mortgaged or to t6e solvency or insolvency of said Mortgagor or t'se defendants. Such rents, profits. income~ issues, and revenues shall be applied by such receiver aooording to the lien of this mortgage and the practice of such court. In the event of any default on the part of the Mort~agor hereunder, the Mortgsgor ' sgr~es to pay to the Mortgagee on demand as a reRSOnable monthly rental for the premiees an amount at lesst ; equivalent to one-twel(th (~z) of the aggregate of the twelve monthly installments papsble in the then current ~ year ptua the actual amount of the annual taxes, asaessments, water rates~ and insurance premiums for such year ~ not oovered by the aforesaid montWy paymenta ~ 10. In Lhe event of any b-each of this mortgage or default on the part of the Mortgagor; or in the event that any of esid aums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in Lhe event thst each snd every the stipulations, agreements~ oonditions, 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 said note then remaining unpaid, with interest accrued to that time, and all moneys secured 6ereby, shall beoome due and payable forthwith, or thereafter~ at the option of said Mortgagee, as fully and completely as if all of the said sums of money were ori~nally atipulated to be paid on such day, anytbing in said note or in this mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had matured prior to its insdtu- tion. 1'he Mortgsgee may foreclose this mortgage, as to the amount so declared due and payable, and the said premises ahaU be sold to satisfy and pay the same together with uosts, expensea, and aUowances. In case of psrtial foreclo~we of this mortgage, the mortgaged premises shall be sold subject to the continuing 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 be availed of thereafter fmm time to time by the hiortgagee. 11. No waiver of any oovenant hereia or of the obligation secured hereby shall at any time thereaftec be held to be a waiver of the terma hereof or of t6e note secured hereby. ~ 12. The lien of t6is instrument ahall remain in full force and etTect during any postponement or extension of the time of payment of the indebtednesa or any part thereof eecured hereby. ~ If the Mortgagor default in any of the,covenants or agreements contained herein, or in said note, then the Mort{~agee msy pedorm the same~ and all expenditures (including ressonable attorney's fees} made by the Mortga~ee in so doinK shall draw interesl at the rate provided (or in the principnl indebtedn~ss, and shall be repa~•abie ~ thirty (30) days atter demand, and, toget6er with interest and costs acerued thereon, shali be secured by ~ this mortgage. ~ 14. U n the r uest of the i~'Io a ee the :liort ~ po eq rt.~ ~ ga~;or shall execute and cleliver a supplementa) note or notes (or the sum or sums ad~•anced by the ~fortgaf;ce (or the alteration, modernization, improremcnt, msin- ~ tenance, or mpair ot said premises, for ta~es or as.~c~ments against the samc and for e.a~• other purpose author- ~ ized 6ereunder. Said note or notes shall Le secured t?ereby on a parity with and as [ully as i! the acl~•ance ~ evidenced thereby were inciuded in the note first described above. Said supplemental note or notes shall bear interest at t6e rate pro~ided for in t.he principal indebtedness arid shall be pa~•able in approximately equal ~ monthly payments for such period as may be a~recd upon b~ the credilor and debt,or. Failing to agrec on the msturity~ the wt~ole of the sum or sums so ad~•anced sheill bc duc and pa~•nble thirt,y (30) dars after demand ~ by the creditor. In no event sball the maturity extend beyond .I,he ullimate c~aturity of the note fi~st ~ described sbove. 800~c ~.el~ ~ ~ri ~ ~ _ _ - - - - - ~ ~ ~ ~ ~ . : ~r % ~ ..L.~ s ~"~-3~ ~k ~ ~ ~ . ~ - ~ .z..e s~ :.:,'S r" u. _