HomeMy WebLinkAbout2547 tender t,~ the Mortgagee in acoordance wit1~ the_pro~dotu.of tl?e uote eecured hsreb~. fuII pa~nunt ot ths
entirs indebtednees represented therebv. t~le Mortgsgee~ a's t~rustee~ shap~ in computing Uie aniount of suclt
indebtednees~ credit to the account o[ t~e Mortgagor wy credit belsnoe remsining under th~? pmvisiona ot (a)
oi said ph 2. If there ahall be • dafault under ans ot the provisions of this uiortga~e resulting i~~ •
public sal~he premiaes covered hereby~ or if the Mortgagee acquires t!K pmpert~' othenv~se ~?lter de(ault.
the Mortg~gee, as truatAe, ahall spply, a6 the tima ot the c,ommeneement oi such proceedings or at tl,e tiine
the proper~~ is otherwiee uquiced, the Rmount then ~+emsining to credit o[ Mortgagor under (a) of psragrap)? 8
preceding aa a credit on the interest, accrued ~nd unpaid and the b+tilsa~e to tlu principal Uhen reiuaiuing unpaid
on a~id note.
4. Ha wiU psy all ts~cee, s~eeee~eats, water n?t~es, und oi,~ee taI oe mnnldPsl ebergee. fine0. os
mc?poedtions„ for which proviaion has aot been msde hereinbetore. ~nd def~?ult thereof tLa Mocyp?6'ee maU? Pe?Y t~s .
ea~ue; ~ad t,6ut be will promptly delivec the o~d~l reoeipta tberetor to the Mottgege0.
b. He wW permit, oommit, or suQer no ~v~ste, impa~rmea vat ae~etion?tioa ot e~id p~+operty ae sny psrt tbereot
euoept re~nabie wear und tear• and in t~e ev~enti of the i~ure oE tbe Mory~got to keep tha building~ on e~~
peem;ees and tboee to bo erect~e~ oa esid preonise~, or improvemmts Lt~ereoa~. in-Eood t+ep~air t6e Mortga~ee msY
mslce auch repaits ae in ita discreuon iL m~y doeaa neceasaTy.ia~ t2re pt~oger ~raarat~ootlxie~o~ rnd tLa full amoun0
a[ e~?ch aad every such payment eball bs due aad p~yabk tLirf~? (30~ d~ys ait~ee dAaovand, ~ shsll bs eaoured br
the lien ot this m~e~.
a. He wiri poy vl snd eingulsr t~Le ooets, h~t~ee, a~nd eo~penses, ineludin~ rausonsble Lwyds ieee, ~~nd ooets
oi abatracts ot title, incurred or pedd ~?t i?ay time
by t~he Mort~agee bea?uee d the failure on the~sr~ of the Mort~a~c,r
P~'~PUY and i t~o perform the a~+eementa sad o~ven:nts d eaid promiaeory note aad t~s and eaid
~*6~, ~~Pe~ ~~~~~1' due and p,yaW~e and a6a11 be ~ea~u~ed by tbe liaa~n?ortg,saa.
7. He w~l o~ntinnons~j msintdn L~ard ~oau'anoe, e~ attch type ortype~ and amannts us Mortgagee m~T
trom t~ae to time requirs, on the impro~eamenb n~w ot bez+eaftAr on eaid - ' a~ ezaapt ~vhnn psyment
ior all wch premiams lus'tberetotors been m~rde unde~ ~(4) oi paragra~h hst+eoi w~l p~yy promp~1y w?bea
_d~~~p.~iums th~etor. All i~nranoe sha11 ~ carried in oompames aPProve~ b~ M and the poli-
~ies aad naewvs tbereo~~alTbe~eld b~ Mortgagee and ~va ittaehal tLet~to-bee ~~ab~Q~i~ee~
~vor
snd in iorm a«xptable to tha Ai ~g~sg~. In eveat of bes he ~vill gi~e immediutsaad each insuranoe ounnp
y
and Mortgagee ms~ m~ice proof~~Df! 1oes ii not mad~e Pi'~mP b7 .
~onoerned is bereby_authosi~d and directed to make p~yymei~ta~ eaich bes du+ectt,y to Martga~ee_metead o!
t~o Mo~rtgagOr and l~ort~gag~ join~, and f~be ~ranoe prooeeds, 03' w par~ there~i my? be apFlied by Mortr
~gee at its option eit~h~ to tba uction a[ the indebtednees L~b~ ~e~+ed or to t~e resto~rstion or repair of
t~Le propertJ damaged. In event o~ ia+ecloan+s d this o~ ot~~ trander o~ title to the n~ortgaged
~ age . t oi ths i~ebtedaer ~eonred ~ righfy t~tl0. and int~:+es0 oi t~e Mortgag~o~r
m ~?nd t~o aa~r iasuranoe policies t~Len in foros abaII p~es to fbe parcL~eer o~ gi~ntea.
8. Ti the prrmiees, or sn~ pait thereof, be condenined under the powrr of eminent, doniain or acguucd for
a public tise, t11P (iwillt8'e8 a~varded, dre proaais for thets~g of or tbe considention tor suc~i acqu~~t~ion~ to
the extent o! the tnll smount oi t}?p retruining unpsid iadebtr~nees eecnrcd b~ this niortgs~, arr }~ereb~
seaigmeci to U~e Mortgagee, snd his hein or ae~igns, antl shall be paid torthwith to ssicl Mortga~c~ or lus
ce to be sppli~d on account of the Lst maturing installments of snch indebtedneaa; pmvi~led, l~o~ever,
th~ortgsgee or his aesi~nee, ~nsy at~ hie diecretion ps~ direct to th~? Mortgagor, his liei:s or assigns an~ part
or all ot aucj sr?ard; providecl, th~?t if !he b~.+-. ~ b.:.:.~.:.'~: ~oneent oI the guarantor or insurer
is obt~ained in ~d'ance oi said pa~nent
T'he M~ee msy, st a~y iime ~ s a~k epon thie mo~t~e, spp~ to t]se ~t luvln~ iuriediction ~
lbereof for tbe pppointmeat of a reodver, and wch eouet d~all taW~viW appoint a reoeiver eE tbe premiees oovered
Lereby all aidd singWar, includin6 ~Il snd dn~ulat tbe ~ooo~e~ P'~'~~, aad reveanes from ahatever souroe
derlved, ~ach snd every of whicb, it~ aspreeely nad Atood, is Lereb9 mo~t~'ed ~s if s~edfically eet fort~ and
deeeribed in We aranting s~ hsbeadum e~iit~ee~ hee+eot. Bnch t ebsll be msde by such oourt aa an edmitted
equih? and s matter of abeoluts ti6ht to raid ~act~ee, wit~Lout nfeeeaoe to tLe adequ~y or inadequa~y of
~ the value of tl~e property mortg,aged ae to the ad~ency ae i~d~~enqy af mdd Mortgfiga~ or tLe ~fendsnts. 8uch
; rents, Profite, income, i~, and reveaues shail be a~~li~ed bY ewh reodver aooo~din6 to tbe liea of tbis mortgage
sad the pc~?~et~oe of euch oou~.~ In t6e ev~ut oI auy uwtt an tLe piut of tbe Maa~gee Lezeunder, the M or
~ a~~eee to psy to tbe Mo on -ckmaad as ~ teaecaabie montWy reatal i~ t]~e prnmieea an amount at~east
eqnivalent to one-twelfth ot t6e a~+e~te of tbs twel~re moatbly iffitalianeata pe?ysble in the then curcent
~ year plus t6e sctual ~~mount o# tLe snnusl tsxea, aeeee~ta, w~?tet sat4a, and iae~ranos p~emiums for s~cb year
not oovered by the afoiemid mantb~r p~y~.
~ 10. In tbe ~v~ent oi any bresch of tbis mo~t~ge ee de~F~ ~ tbe part af the Mor~go~l.or in~the ev~nt tbst
any o# said eums ot~ money Lerein referred to be n~t pt+ompt~y ~nd ial~yp~d aooo to tLe tenor hereof, or in the
00
e~v~nt tbst ench aad eve~ry tbe st~pdatio~e, ~gree~neats, oondit3o~, and i~vc~nta eaid note and this mort
s~re not dulY.lx~PWY. ~~Y P~~; thea fa eltLet er aqy ench e~v~eat, tLe eaid ag~egate a~mn mentio
in eaid nots tbea reanainin6 ~P~, with iater~ socn~ed to tbat time, and a11 moneye secured hereby, ahall become
due snd psysbk forthwith, oe the~+eafter i?t tbe optfon o~ aatd Mar~ee, aa fully and completely as if all of the
rsid suma of mone}? ~vere ort~ty ttipu~ated to be p~~d o~ sneL de4Y, ~n8 in eaid note oY' in this mortgage to
the oontrary notwithataading; and tLeeeupon ar fbaee?ft~er, st t6e-option o[ esid Mortgxgee, witbout notice oe
demsad~ suit st Isw or ia eqnih~. nyY be Pe~se~ted as if all mooeys seo~ued hereby had matured prior to its instit~-
tion. The Mort~gee msy foredose tbis mott~n6e, as to tLe amoant so declated due s?nd psyable, and t6e said
ehall be sold to satie~y aad psy tLe tame ~ogetber tQith aosts, e~pen~ea, aad allowances. In caee of partial
o~clo~ure of t~is mo~t~nae, tLe matt~ed ~iees absll be sold enbjeat t~o tbe eontinuing lien of thia mortga~e
ior the amount of the debt not t~a due aad caee tLe provisiom of thia paragraph may again be
svsiled of the~+eait~er iro~n tim~e io ~ao~e by tbe
11. No wsiver of any o~v~msat Lerein ee oE tbe oblig,?ttan secured hereby ~all ~t aay time tbereafter be beld
tio be ~~vaivec oE the t~ernos ha~eof ae af the note eeau+ed ha+eby.
~ ' 12. Tbe liea of t~is i~meati tbaIl renain in fuII foroe aad eSe~t dwdn6 ~.11~P~ti ar a~ctenaiun oi
tbe t[me af psymeat af tbe iadebtedseos ae:?qy p~it t~~eai secured Lereby.
13. If the Mort~o~ defanlt in any cf tLe co~veaaats ae ag+ee~meats o~ntained Le:eln, ar in enid note, then the
ldort6agee msy pafam tbe same, aad aII espmdit~res (includlns rmisooab,e sttorn~y's feea) mede by the MortgaRee
in so d ahall dnw inte~rest st t6e ntepr vided for in the principal indebtednees, and shail be mpa~ able
~
ym
(~da afte~ demand, sad, t~ogetL~e~s witL int~erest and oost4 ~?ocrued thet+eon, shall be secured by
14. Upon the nqneet of the l~artga~e tLe 3dor~gag~r abaII e~eee~te sad deliver s snpplemental aote ~r
nM,es for.the sum or sums advaaced by We M~ortgsg~ea for t~,e slt~?tion, modernization, improvement, mnia-
t~anoe, or repais oi said praaiees, for tasa o~ astasments againsC t~he same aad far snq other purposc au thor-
~ized Lereunder. S~id note or notea ~Lall be ~ewred herebt on a parity with snd ss fully sa ~f the sdvance
evidenced thereby were included in tLe nate fust d~'bed above. Said sup
ple~mental note or notes shnll bear
interest ~t the nte pmvided for in tha pzincipal iad e
b
t
e d n
e e s snd s6a11 bep~y~ble in spproximatcip equ,~l
monthly paymenta for such period as ma~ be agceod upon by the creditor and debtor. Fsil"u~ to agree on the
msturity, the w6ole of the sum or sums a advsnced ahaU be due and ps~~t?ble thirty (30) da~s ~f~cr demsnd
by the creditor. Io np avent ~6a11 the maturity extend beyond tbe ultunats r~turity ot tLe no~e Srst
- deecribed abo~a .
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