HomeMy WebLinkAbout0693 .
,
_
i
teader to the Mortgogee in ~?ocord~?nc,s wie!? tl,e provjaions ot tl~e Qota ~ecured lureb~, iu~ puement o! the ~
antire indebtedneas represent,e+~ therebv~ tha Mortgagee, ae t~rus~ee~ ah411, in canputing tl~e aiuount ot auch 9
indebtedneee~ credi~ to the sccount ot tl~e Mortg~gor auy cred~l balenoe rnm~u?ing under tl~e provisions oi (s) :
ot said ph It there sh~ll be a detault uader ,tns ot the provisions of this inort.ga~e resulting ui a ~
public eal~the premiaes oovered hereby, or it the Mortgagea acquirea ihe pmpert,r othenv~se after dotault~ ~
the Mort,gsgee. as trustrr~ shsll spply, at the time ot the c~aYUnencement of euch proceedings or at tl~e ti~ne ~
the pmpeny is otherwise acquired, the smount then Temainiug lo credit ot Morigagc~r under (s) o~ psragrapl~_2 f
precrding as a credit on the interest ~ccrued and unpaid ~?nd tt?e bul~?nce to tLe pciucip~l Lhen reiw~iuing unpaid .
on said note.
4. He will pyr aII teucee, ~eee~ate, ws~ee nt~e, aad otl~er go~rnmentsl o~ munldPal cbsr~ee, Rnee. or
impositions, far wbich pe~ovision ~s ~t beea m~de hereinbefore, and ia default thereot i~e Moctg~8ee I~Y ~
~ne; ~?nd tL~?t Ls will pco~mptbr deliver the o~ci~l reooipts tbaeetor to tlue Mortaagea
b. He wIll permit~ oommit, or suSer ao waste, imp~irmeaafi~ oe detRaior~?tton of eaid p~ropett~ a~ sny ~p~art t~ereof
except traaoosble wear aad tear• aad in the evea~ of the failure vf tLs Matt~oe t~o loeep tbe buildiags on sai~
peemieee sad thaee to be erect~ o~ eaid pt+e~anise~. e~ imp~ru~vemea4+ 1~ueoo. .a 6ood roP~' ths Ma~t6~'ee a1°y
mslce e~ach rep~airs as ia its diecretion it m*y 3eean aeoeeesry far tLe prop~ p+reserv:?tion thereo~ aad t6e full amounti
ot auu~ aad eveqr wch p~,ym~eat sb~lt ba dua aad pyrabb t~Wrly C30) d~Ys sttsr dem~nd, aad du~ll bo secured by .
the liea ot tbis mo~ta,~~e. . ~
6. He wIU p~y sll and etn~ulsr ths ooeb, and e~peaees, iactudtn6 re~eonable Lwyar's f aad ooebs ~
0o b,
ot abstr~cts of title, incun~ed os paid st aqy tin~e by ortdaaee beauee of the fatlure on the pe~rt of the ort~~c~r
P~?PVY and i to perfo~m tbe a~nents and oovenants of eaid promieeary note snd this mort~ge, aad esid ;
~e~,s, ~arg~, ~ezpenees ~all be imnnediat~r due ~nd pqyable ~nd e~hall be eoaured by the liea af th~s mortg,aga '
T. He ~ eontinuou~ maintain hasard i~u~anae. of such b?pe or t~pes snd amc?unts us :1~ortgsgee ma~
irom time to time require, on tbe imp~vementa ~aw or Lereaft~er on eaid nm~eee~ end e=oept wb~en psymenti
tor all wch premiums Las~ tbaretofore been made wuder (s at paragrsFh sr~ereoi he will pay promptl~ ~rLeu
due aq~ premium's iberetor. All iffiuriu~oe aLall bs in oompames aPProvec~ by Mortgagee snd the pol~
eies and renewals tbereof sLaD be Leld b~ Mortgagee and have ~?ttaehed tbereto loes pqysble cliuses in i~vor af
a~d i4 ic+r~ ~!x~!?gt~i.ile to the M In event oi bea he will give immediute notice by mail to Mortgagee,
and Mortgagee ma~ make pa~ool~~ if not made prompt~y b~ Mortgagor~ and a~ca inaunaoe company
m ~ .ur~~a u,a a~~a ~ ~ ~~?ti i~ ~ a~~ ~ ~~~~r~?a ot
to biortgagor aad ~ortgsgee joiatJ~r, sad the insuranoe prooeed~, or aqY Part t~?era msy be app by Morw
ati ita option eit6er to tbe rednction oi tbe indebtednees b~ereby eecnred or to t~e restoration or npair of
~Pi'oP~!'~s1 d~~$'~- In eveati of iorecloeau+s o~f tbis mo~~ or otLar te~nsfer of title to the mortgaged
p~+upeirtj m, t of !Le indebtedneet eec~+ed Lereby, ~Il ~h~, title, and int~+e~ti of tLe Mortgago~t
m aad to sq~ ~sura~e poli~s i~n in foroe aLall psas to ths pnr~se~ ~ 8~~ - ;
8. I[ thepremiees, or sn~ psit thereoi, be rondenmed under the power ot enunent, donuin or sc~uircd fi~r i
a public uee, t}x~ damsges srvude~l, tlie pmce~s for the oi or t~he consideration for sur~i uqu~a~tion~ io
v
the extent ot the full smount oi the remaining unpaid inde te~nees secured b~ this niortgs~r, arn l~enb~
assigned to tltie Mortgagee, and his heira or aegigris, and shall be ps~id~ torih~?it~ to sa~i Mortgagcr or lus
ee to be applied on sccount of the Lst mstwYng installmenta oi auch indebtedness; pmvicled, )io~eTer,
th~ortga~ee or his aesi~nee, insy at his diecrntSon par direct to the ~ortgagor, his }u~irs ar assigns sn,r pu'ti
. ~ _ . • .L _ t_ • .--.I 5....»~...1 al... .,e...~~ i{u e~~wl~n~nr AT tM11M! _
O~' SiI 6I sllc)t iwaill~ j?iV~iuu3~ i.l~wi ii iuc 3Y~ti o~iiai~ii c~cis vs a:.o~avy :::~r. z:s-.~•:+~_: o_==== -
is obtained in ad~ance oi uid puy~nent . .
The Mort~gee msy, st an7 ~S Pen~in6 a a~t t~ this mo~rtgege, sPp~9 to tbe ~ ~+?vin8 3urisdictiua
tl~ereot i~ the appointment ot a reaiver, and such eourt sbaII forthwIth e?ppoint s receives of the premiees oovered •
Lereby ~11 a~d sinsular, inc2udin~ sJl sad eingular tbe ino~nne profita, iesuea, and revenuea fmm whatever eourae
de~rived, ~ach ~?nd eveiy of which, it bein~ a~pi'eesly undemtoo~, is hereby mortga~ed as if spe~ifically eet forth md
deeeribed in the ~anting and hsbendum clsuees Lerc~of: Such sppointaneat ahali be made by wch oourt as aa admitted
! equity and s matter of abe~Iute right to esid Mort~s~ee, ~ad without referenoe to the aciequsey or inadequacy of
' ~~ue a{. ~ p~p~,y ~rtgaged oe to the eolvency or ineolveaey of esid Mortgegor or t~e defendanta. Such
' P~~• ~~venues aball bespplied by euch reoeiver a~oo~r~ing to t~he lien of thia mortgage
and t~he practiee of such cou~t. ~ In tt~e event of ~ny defautt oa theps of tl~e Mort$agor hereunder, the Mortgagor
~ ~~ees to psy to t6e Mo on demand ~a s reaeonable monthly
rental for the prenni~es ~?n amount st lesat
equivalent to one-t~velfth of the~ of the t~velve monthly installments payeble in the then curmnt
~ year plus the sctual amount of the annuai ta~ce~s, ~sment~ wster r~?tea, and insurano~ premi~ms for such year
~ not oovee+ed by the storeesid monthZY PaY~~
lO.In t~6e tvent oE aay breach of t~hia mortgage ar defsult on the part of tLe Morf~egorl:or in the event thst
~ny o{ daid eums of money herein referred to be not pronnptly aad fully paid a«:ording tfl the tenor hereof, or in the
~ evenL that esch snd every the stipulationa, agreemente, eonditiomi, and oovenants of eaid note and this mortgnge,
are not dnly, promptly, ~d fuUy pedoimed; then ia eithet or sn~? 8uch event, the said aggregate sum mentioned
in said note then remaining unpeid, tvith interest sccrued to that time, and all moneya eecured hereby, shall bec:ome
due and psyable forthwith, or thereafter, at the option of daid Mortgagee, sa fuUy snd completely as if all of the
raid sums of money wrere originally stipulated to be pa?id on such day, anyLhing in said note or in this mortga6e to
the oontrary notwrithatanding; sad thereupon or thereafter, at the option of eaid Mortga~ee, azthout notice or
demard, suit st la~? or in equity, may be prosecuted sa if all moneya eecured hereby had matured prior to ita institu-
tion. The Mortgagee muy forecloee this mortgage, aa to the amount ao declared due and gayable, and the said
premises ahall be aold to satasfy and psy the 8ame together wnth coafa, e~cpenses, and allowances. In case of partial
foreclosure of thie mortgage, the mortgaged premiees ahall be eold eubject to the cantinuing lien of this mort6age
for the amount of the debt not then due and unpaid: In such ea9e t6e provisione of this paragraph may again be
svailed of thereaiter from time to time by the ~iortgagee. ,
11. ~No ~vatver of sny eovenant herein or of the obligation secured bereby eball at say time tLereatter be beld
~ to be s~vaiver of the terma hereof or d tbe note secured heneby.
']2. Tbe lien of tbia instrnment shall reonain in fu11 foroe snd egect during sn~ poetponement or e~cteneivn oE
ihe time of peyment oE the indebtedneea or ~ny part thereof eecured hereby.
~ 13. If the ldiort~agor defsult in sny of tl~e oovenante or agreements oontained herein, or in said note, lhen tbe .
]~Ilort~ee msy pedorm the eame, snd all expenditures (including reasonable attorney's feea) made by the Mortga~ee
in so do~ng ahall dnw intereat st the rate provided for in the principal indebtednees, and ahsll be repaysble
thirty (30) daya aiter demand, snd, together rvith interos6 and coets aocrued tLereon, Bhnil be eecur~d b~
Wis mo~tgaeo. -
14. Upon tLe requeat of tLe Mortga~;ee the Mortgagor sball e~cecute snd deliver a eupplementsl ~et,~ ~r
notes for the sum or sums ad~ anced by LLe diortgsgee for the slteration, modernization, improvcment, ~sia-
tenance, or repair of aaid premises, for ta~es or a~essments against the same and for any other purpose author-
iaed hereunder. Ssid note or notes ahsll be eecured hereby oa a parity ~vith and u fully ss if the sdvsnce
e~ idenced thereby ~vere included in the note Srst described sbove. Said snpplemental note or notcs shall bear
interest at the rate provided for in the principal indebtedness and shall bepa
y~ble in ap proximatcl} cqnal
monthly pa3~ments for such period as may be agreed upon hy the creditor and debtor. Failing to u~rec on lhe
ma.turity, the w6ole of the sum or sums s~ advaneecl shal; be due and pa~~able thirty (31)) dai•s a[ter Jemnnci
by Lt?e creditor. In no event ahall tl~e maturity eztend beyond the ult~mate r~aturity of t4e nale fus6
; described abooe. ~
o- 6011k ~~~J'! PA6f
~ ~ x , ~ ~ ~ _ _ , _ _ _ _ ,
_ _ , ~ ~ ~ „ ~ #
N ~ _