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Home My WebLink About0837 _ ~ :1J•. ' ' t ~rnder to tlie ~1urt~u~;~•e in u~•cur~lun~•~~ w•ith 1h~• pruvisic~us uf th~• not~• ercun~l h~~ml,~•. full pa~•u?~~nt of th~~ entirP in~lebtedn~~s repn~~rnted therNb~•. tl~e titortKu~;NC, ax trust~~~•, :~l~ull, in cow~?utinK thP a~u~~uu~ c,t sueh indebteJuees~ credit to th~~ xc~•ow?t af th~~ ~lurt~u~;ur unr cr~•dit bslunce remainin~ u~ui~~r th~~ pn~ri,iuu+ o! (u) of aaid pare~rapl~ 2. If th~~rn al~xll tx~ a defau t und~~ any u( the pro~•i.~ions of tl~ia ~uortgu~;~• r~~sultin~ in u public ssle of tl?e pretiiis~~s euvered liereby, ur if the Mortgegee u~•ywres th~~ pro~x~rt~• oth~~rH•~s~~ After ~I~~fault, the illortgagee, u,s trust~~e, si~aU appl~, ut the tuue o( the ~•aumcn~•emciit of sucb pnx•i~e~lin~,?s or at Ihe tiini~ the propert~• ~ oth~~rwisc~ a~•quired,/1~P ai~~ount then re~uuinin~ tu ~•rndit of ~[ortKu~;ur un~ler (a) of ~?aru~;rapL 2 precedinK es a~•redit on the intert~t accrued and unpaid and tile Lalsn~•e to th~ princ•ipsl tlu•n mu~uin~nK uupaid on said ciuie. 4. He wiU psy all taxes. ase~menta. wstes ratee~ aad other ~overnmental or municipal chsrgea 6nes. or impositiona~ for whic6 provision hea not been msde hereinbefore~ and in default thereof the Mortgagee may psy tLe eame; and thet he will promptly deliver t6e o~cial reoeipta theretor to i,he I1~tort~agee. ~ 5. He will permit~ commit, or suQer no weate, impairment~ or deterioration of esid property or any part thereof e~ccept reseonable wear and tear; and in the event of the failure ot the Mortgagor to keep thes buildinga on aai~ premises and thoee to be erected on said premiees. or improvementa thereoa, in good repair. tshe Mortgagee may make such repaira se in its diecretion it may deem neceaeary for the proper prescrvation thereof~ and the full amount of eac6 and every such payment shall be due aad psyable thirty (30) days siter demand, and ehall be eecured by the lien of this mortgsge. ' 6. He will pay all and singular the caets, chargea~ and ea~peneea including reasonable lswyer'e fcee~ snd ooete of abstracta of title~ incurred or paid at any time by the Mortgagee becauee of W?e failure on the part of t6e Morigagor promptly and fuqy to pertorcn the agreements and oovenanta of eaid promiseory note and this mortgage, and said coats, charges, and expenses ahall be immediately due and payable and ahall be eecured by the lien oi this mortgage. _ 7. He will oontinuously maint~ain hazard inaurance, of such type or types snd amounte as Mortgagee msy from time to time require~ on Lhe iraprovements now or hereafter on ssid premises~ and e.~cept when payment tor all such premiums hss theretotore been made under (a) of paragraph 2 hereof~ he will pay promptly when due sny premiums therefor. All insurance shall be carried in companies approved by riortgagee and the poli- cies and renewals thereot shull be held by Mortgagee snd have attached thereto loss payable clauses in favor of and in form acceptable to t6e Mortga~ee. In event of loss he will give immediate notice by mail to biortgagee, and ~iortgagee may make proof of ioss it not made promptly by Mortgagor, sad each insurance oompany concerned is hereby authorized and d'uected to make payment !or such loss du~ectly to Mortgagee instead of to ;liortgagor and bsortgagee jointly, and the inswance proceeds, or any part thereof~ may be applied by Mor~ gagee at its option either to tbe reduction of the indebtedness hetebp secured or to t6e restorat~on or repair of the property dama~ed. In event oi foreclosure of this mortgage or other transier of title to the mortgaged property in exlinguishment of the indebtedness secured hereby~ a~l right, title, and interest of the blortgagor in and to any insurunce policiea then in force shall pass to the purchaser or grantee. ' K. If ih~• pmn~i~~h, or:in~- part th~•n~of, b~• ~•ou~l~tun~~ii unilcr ihe pow-~r of ~~n?in~~nt ~lo~~~u~n. or ac•y~eirnd for a publi~• us~~. tlie ~luu~u~~~s a~~•ardc~l. tlu~ prni•~~~•ils for ihi• tukiu~? of. or th~~ ronsi~l~•rulion for suc•l~ a~•yu~it?on, to thc~ ~•~t~nt of th~ full aniount of ihi~ re~i~ainin~; unpui~l iud~~i?t~~~ln~•„ ~~•rur~vl h~• th~, uiort~;ar~•, ur~ lu•rc~b~- ussi;:tu•~1 to th~~ ~1ort~uK~•~. un~l his hi~i» or ei..i~ns, :in~l •h:ill In~ pui~l forth~~-itli to saiil ~lort~?:tg~•~• nr lii.~ uatiiKnPt~ to Ix• uppli~~~l on u~•~•ount c?f th~• lu.t ~ui~turin~ ~nstallnu•nt• of su~•h in~l~•IN~dm~.s: pro~•i~i~~il. ho~~•~•~er, thc~ \lorika~~~~~ or l~is assiKn~~~~, uiu~- ut his ~lis~•n~tiou pii~- ~lin•~•t to ih~~ ~Iort~ut;~n•, h4~ lu•in ur u..ci~n; un~• pt?rt : or all of sw•li u~+~nril; Pro~-i~l~~d. thut if the lo:~n is ~;uau•unte~~~~l or insurn~l, the ~•on.~•ut uf tlu~ ~;uaruut~~r or ii~surer ; is obtuin~~d in ad~•nnre~ of suid pa~•nu~nt. ` ~ The :~lortgagee may~ at any time pending a suit upon this morcgage, apply to the court having juriadiction thereof for the appointmeat of a receiver, and such court shall forthwith appoint a reoeiver of the premises oovered j hereby ap and singular~ including all and singular the income, profita, issues, and revenues fmm whatever source _ ~ derived, each and every of which, it being expressly underetood. is hereby mortgaged as if specifically set forth and = ; described in the granting and habendum clauses hereof. Such appointment shatl be made by such oourt as an admitted ; ~ equity and a matter of abso{ute right to said Mortgagee~ and without reference to the adequacy or inadequacy of € the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or t!~e defendants. Such ~ ~ rents~ pmfits. income, issues~ and revenues shall be applied by such receiver according to the lien of this mortgage ~ and the practice of such court. In the event of any defauit on the part of the Mortgagor hereunder, the Mortgagor = ` sgrees to pay to the Mortgagee on demand sa a reasonable monthly rental for the premi~es an amount at lesst i equivalent to one-twelith (~z) of the aggregate of the twelve monthly installments payable in the then current ; year plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year ~ not covered by the aforesaid monthly payments. ! 10. In the event of any b*each of this mortgage or default oa the part of the biortgagor; or in the event that ' any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the event that each and every the atipulations~ agreements~ conditiona, and covenants of said note and this mortgage, ~ sre not duly~ promptly~ and fully performed; then in either or any such event, the said ag,gregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become ; due and payable forthwith, or thereafter, at the option of said Mortgagee, as f~illy and completely ~e if all of the t eaid sums of money were originally stipulated to be paid on such day, anyLhing in said note or in this mortgage to ~ tbe contrary notwithstanding; snd 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 sec~red hereby had matured ptior to its institu- ~ tion. The Mortgagee may foreclose this mortqage, as to the amount so declared due and payable, and the said s premises shall be sold to satisfy and pay the same together with costs, expenses, and allowances. In case of partiel : foreclosure of this mortgage, the mortguged premises shall be sold subject to the continuing lien of this mortgage ~ !or the amount of the debt not then due and unpaid. In such case the provisions of this paragraph may again be ~ availed of thereaiter trom time to time by the i4iortgagee. ; 11. No waiver of any oovenant 6erein or of the obligation secured hereby shall st any time thereafter be held ' to be a waiver of the terms hereof or of the note secured hereby. 12. The lien of thia instrument shall remain in full force and eBecL durinR an_y postponement or extension of ; the time of payment of the indebtednesa or any part t6ereof eecured hereby. 13. If the Mortgagor default in any of the co~ensnts or agreements contained hemin, or in said note, then the Mortgagee may perform the same~ and all expenditures (incluJing reasonable attorney's fees) made by the Mortga~ee ~ ~ in so doinK shall draK• interest at the rate pro~•idc~1 for in the principal indebtedness, and shall be repa~•able ~ thirty (30) da~~s aft,er demand, and, together with interest and costs accrued thereon, shall be sccured by ~r L6is mortgap,e. 14. LTpon the request of the 141ort~a~ee the ltortgagor shall e~ecute ancl deliver a supplemental not.e or notes for the sum or sums advanced by t6e ~tort~;agee for the slleration, modcrnization, impro~•cment, main- tenance, or repair of said premises, for taxes or a.~.~essments a~;ainst the same and for sa~• olher purpuse aut6or- - ized 6ereunder. Said note or notes sLall be secumd hereby on a parity with and as fully as it the adeance _ e~ idenced thereby were incladed in the note firsl described atw~~e. tisid supplem~ntal notr or notes shall bear ~ interest at the rate procided for in the principal in~lebtednc~s and shall l,e pa~•aLle in approximateh• equal - r monthly pavments for such period as may bc a~;rced upon b~ the crcditor and ~lebwr. Failin~ to a~rce on the maturity, t~~e Nhole of the sum or sums so a~l~•anccd shall be duc and pa~•able thirt~~ (30) da~~s after Jemand by the creditor. In ao event, s6all t,he maturi~y extenJ 4eyond t,lie ultimate r.~aturity o( tLe note first described ebove. ~ 6DOK ~?t75 t~Ir,E ~ ~ ~