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Home My WebLink About0551 r aad sball par all othu sums prorided to be paid b~ thb Mon6a~e, aad shaU perform. wmpl~r rith and abide br eac6 aad erer~ the stipulationa, asreemeats. eonditioa~ aad ooren~ats of aaid promiswq aote aad of this deed, t6en t6is deed aad t6e atate 6erebr craced shall cease ~nd be null and void. AND THE MOR7'GAGOR doa 6eccb~ furtLer eoreaant aad ascee u tollo.rs: 1. To pa~ dl and sinaulu t6e pciueipa) and intereat .nd wher :wna of moo~~ P.rable br .i~+ue ot said Pmmu.o~ naa ~nd tbis moctaa~e. or either. promptl~ oa tbe d~~a tespxQ~d~ t6t iame ~ererallr come due. 2. To pa~ dl aad sinsular tues, asee~ments, kv'us, liabilitie0. obli`atiaos and eneum6~rance~ ot e~en nuare aa saFd P~P~7. each and e~erp. witAia the time ~pecil'ied in Para~rap6 6 belox, wd if t4e ame abaU not be Pe~omptip paid. the Mo~tpsce mar, at ~a~ wae eit6er before or atter delinqneae~, par tl~e ~ame vrithout rr~irins or dfectins t6e option to tora elase. ot an~ risht 6ereunder and ever~ paymeet ~n mads ~hall bear~ iuterat iram tLe date thenoi u t6e rate oE 10 perc~ot Ptr annnm. 3. To keep the buildinp now o~ 6eratter oa wd land and the futura~ and persond propat7 thenL? oonuined i~u*ed. iet a oomp~n~ or aompanle~ app~onad b~ tbe mataa~ee. aiain~t lar b~ 1'ue aad windstorm. tor tbe Sisbat inwr~bk ~due w tlut the mwt~ee'a iaterat is aot subject to eo-insuraaee. and the polic~ or policies ~ball bs held b~ and be pa~aWe to taid mort~~ee. and t6e mortaasee r6a11 6a~e t6e optioa w e+eeei~e and ~pplr said parmmt oa acoouot oi t6e tndebtednas 6aeb~ ~ecnred, or permit tLe mortp~or to reeeire or we i1. or anr put tbeieot. for an~ purpa~es ~ris6w~t tbereb~ wd~ or ia- pairio~ ths eqnit~. lien ot d6Lt nader ~ad b~ rirtne of t6u moct~sae wd m~~ plaoe u?d pa~ fat auch inwnnoe or ml P~ thtreoi witlaut wai~ina or dtectins t6s optioa to forecla~e or an~ risht hereunder. and eaeh such pqmmcnt ahall bear iutete~t trom date at t6e nte of 10 peccent per annum. 4. To permit, commit, or eufter no waate. impairmrn~ abendonment, or deteriontioe ot uid propect7r. or an~ part t6ere- of. and apon the [ailure of the Mo~t6a~o~ to keep t6e bnildinss and per~oaal pmperty on said propertr in 6ood eouditiou oc n- pair. t6e Mortgaaee ma7r demand t6e immediate iepair of said propert~. or an iacrease ia the amount of secarit~. or t6e im• mediate npa~mwt ot t6e debt henbr secund. aad t6e failure of the ~fortgagoc to compl~ with said demand of t6e Mort~ee for a period of 15 daTs, ~hdl eoo~titute a breac6 of this Mort~e, and at the option oi the Mortsa;ae, immediatel~ matare the eatire ~mount ot principal and intaat hueb~ secund. and the Mortsagee. immed'utdr aud ~?it6ont notioe, ma7 in~titnte proceedinas to foreelaee this ~ortsa6e and aPPI~ for the appoiatmeat oi a Recei~er, aa hereinafter pro~ided S. To perform. oomplr wit6 and abide br e~e6 and e~er7r the atipuluione, asreemenu, eonditions, and eo~eaanta ia said pmmi~sory note and deed set torth. 6~ To deli~er to t6e Mortaa`ee. on or before Februar~ 1 of each Tear, tu meipts erideacins t6e pa~coent oi ~ll lawEall~ imPaed tuee nPon tM mort8~d~ P~P~7 tor the pruedin6 caleedar ~ear: to deli~er to the Mort6a6ee reoeipts eridmcia6 t6e . pa~meat of all lim+ !or puWic impro~emmts within Ninct~ (90) da~a dter the eame s6all become dae and pa?able, and to p~~ or disc6ar6e ~rithin Ninet~ (90) dqs afar dne date. an~ ~nd dl sorernmentd le~ia tLat ma~ be made m tbe aortt~~ed propeK~. on ehia Moctpse or eote or in ~a~ ot6er war rewiltin~ from tbe moctsage indebtednas ~ b~ tbis Moetp=e. 9. To pa~ all and sinsuler the oosts, c6ar~a, and e:peaus, isalnding lawTer s fea. reawnabl~ iucaned or p~id at aa~ time br the Mort;agee, beean~e of ebe failure of the Mostp~or to pextorm, compl~ rrith and abide b~ eae6 md ere~ tLe ~tipu- latioos, aBeemmn. oondition~ and o~en~su of wid peooi~wq note ~ud ebis deed. or either. ~nd erer~ wie6 p~7ment shaU bear interat fiom date at t6e rate of 10 peroent per ann~m. 8. ?6at if anr action, or prooeedins. ~11 be oommenoed b~ an~ petson oc6er than tbe 6older o[ thi~ oortp~e (~oept ~n aetion to faeclo~e ehis mortaa~e, or w oolla~.t the debt ~eeured tLareb~) w whieh aotion. or p~. tbe 6oWe: ~E tLi~ ' mort6aae is made a partr. or in w6icb it ahall beoome neeerarfi to defmd. or nphold. t6e liea of tL'a mort~e. all wi~s i~ paid bp the botder of this mort~e fo~ eLe e:pea~e of an~ litisation w pm~ecnte, or delmd. the ris6b and lims ciated b7 ehis mortaa6e (ineludin6 rwonable aoumel fea). ~ha11 be paid b~ t6e Mort~or. to6etLar with inte~eat tLeieoa u ehe we oE ' 10 peruat per annnm. and an~ ~ som, and the inteeeeat t6ereon. e6all be a claim npou wid pr~i~es, aad ~6all be deesed to i be secnred b~ thi~ mortgasa The sums paid b~ or ineurred b~ the 6older 6ereof in accordaace ~rith tbe terms ot td'u paraarap6. ; a6a11 be paid bT the Mortg~sv?r unto t6e holder hercof Mitbin thirtr (30) ds7e. and the failure or omi+eion of tbe Matp~ so W do ~ ahall entide t6e Mataasee to add sueh sams to ehe principal indebtednas of th)s mott~ge and the note it secures. md/or at its i option declare this mort6aae and ths.nae it secure~ to be ia default, therenpon matnrin6 all ot the nnpaid isdebtedner ~neludini ~ the wma adranced hereunder. E 9. That no e=tenaion of thc time or modification of the terms ot pa~rment hereinabo~e, and no nJta~e oE an~ part or part~ g oi the mortgaged premixa, even though made without t6e consent of the Mortgagor shali relwe, relit~e. or dirchuse the E 2lfortgagor from the paTment of any of the sums hercb~ eecnred but in such ennt the ~iurtaagor ahall nt~ecthele~s be liabk to i pq wch sums according to t6e terms ot sucL eztension or modifiutioas unlese sPecificallr *elwed and discbar6ed 'w nrit'°a ~ bj the ~ioregagee: and furthermore, that acceptanu of part pqment of an~ installmeot of priaeipal or internt, or bot6. or ot part performance of anr cocenant or dcla~ for anT paiod of time in e=ercising the oFtion to mature the entire dcbt, a6a11 not ~ operate as a nai~er of the right to ezecute such option or act oo such default, pariial acceptanet or aa7 sub~eQumt dd~Wt- 10. Until detault in t6e performance of the ca~enants ~nd a6reements of this Mort~e, the Mort~or shall be wtitled to collect t6e rents, iswee, and profits irom the premiees hereinbetore dacribed. but in we oI a detanlt in u?r of the terms of t6is MortBage, or the filing of a bill to foreclose t6is or anr other mortgase encnmberini lhe wit6ia dncribed pmpert7. ebe 1blortgagee ahdl immedietel~ and witiwut aotic~ be mtided, as a matter oi right, and ~rit6ont reaard to the ~dne of t6e pcemisa, or solvcncT or ia+olrcncp of the parties. to the appointment of a Recei~er of t6e mort~ed proput~. both real and person~l. and ~ of the renta, iesues md profin ehereof. nith tbe wual -poxer of Recei~ers in sac6 ca~es, a~sd iacL Receisrr ma~ be eoetiuaed ~ in posxs~ion of the eaid p~vpert~ nntil ehe tima of the sale thereof. under wc6 foreclowre. and uotil t6e oonfirm~tiun of mch ~ ~ eale by the Court. ~ ll. If foreclosure proceedinge should be inetitnted oa an7 mortsaae inferior to this mort~e or if ~n7 foreclawre pra ~ ~ ` ~ ~ , ceeding is instituted on an~ lien of an~ kiud. t6e mortaaaee m~l at ite option immediatel~ or t6erafter declare th?s mortsaae and the indebtedneas eecured 6ercbr, due and pa~able. H t6ere is an~ mortgaae wperior W tLis mortsaae. then failnre to pa~ ~ said mortgege nhen due and ia ~coord~na with its terms or f~ilare to abide b~ t6e term~ of eaid mort6ase s6d1 be deemed a breach oi thu mortgage and tLe mortgagee at iu option mq immediacd~ or thenafter declare this mort;~e and the indebudnass ; 6ereb~ secured due and papabk. An~ modificatioa of m7 mortsage superior to tbia mort6aae or wairer of a~~ principd or intere~t paymena on an~ note ot mort6ase superior to this mort~se aLall be dcemed a bnach of the terms and oo~dunb oi thia mort~e ~ . and the mortaagee hereof ma~ at ih option declue thia mort~e and the indebtedaeas ~ecnred 6aeb~ dne and pa~.ble. ~ 12. T6at the mailina ot a written aotiee oi demmd~ addres~ed to [6e oweu of [eoocd of the mortµ~ed pc~i~es. a~.-Yled ~ to t6e uid orrner at the last addrar aetnally fnrni~hed w the Mortp~ee, or direeted W the aid owser at aid mortga~ed pm ~ miae~, and mailed b~ tbe United State~ m~iL, ahaU be safficieat nocioe ~nd dem+od in +07 ca~e ari"ns ~"'~~°t aad ~ required b~ t6e provisions 6aeoi or b~ l~w. ~ 13. 7bat in t6e event t6e Mortaa6or dwuld aesip~ the rents of the morttased premi~es or aa7 part thereof withont the ~ conxat of tbe Mort~ee, thm tLe eatire principal sum ~ecured 6enb~ ~6a11. at the option oI the Mortgasee, become immediate- - 1~ due and pa~abla ~ 14. To the e:teat of the indebtednese ot tbe Mortgagor to t6e ~iortaasce dacribed 6enin or secured 6enb~. tbe Mortgaaee ~ is 6erebp wbrogated to the lien or iiens aod to the ri~6ts ot the orrners and holder~ theceof o[ eacb ~nd e~cr~ mort6~6~. t~ ~ ~ other eoeumbrance oo the land dacribed hereie ~rhic6 is paid ~nd/or ~atiwfied, ie whole or Is part, at of the proaed~ o[ t6e lasp dacribed herein or secared ~erebl. and t6e rdpectire lieo~ ot said moRSa6d, liau or aber wcambranca. ~Lall be ~nd tbe aam~ ~ and eac6 of t6em hereb~ i~ pre~ened ana ~Lall paM to and be 6eld b~ t6e Mo~ae Lerein as aecuriq ior tbe indebtedoas to tAe ~ Mortaa~ee herein dacribed or 6ereb~ secnred. to t6e aame e:tent t6at it wonld 6a~e beea praer~ed and wonld 6are been Paned w 3 and been held b~ tbe ]~ort~ee had ii beea dal~ and reaul.ry .~si~ned, traosf«red, set o~er aad deli~ered nnto tLe Mortpace b7 ~eparate deed of assisnmeat notwithstandins the fact that the same ma~ be satbfied and eaneelkd ot record. it beioa the iatcncion ~ ot the partia 6ereto t6at the s~me will be satiefied aad canceUed of rxord b~ t6e bolo t6ereof at or about tlie time of tbe ~ recording of thi~ Mon6.aG BOOK PAGE ~ _ i = _ ~ _ _ . _ _ . , _