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Home My WebLink About1073 tender to the Mortgagee in accordsnce ~vith the provisions at tl?e note secured 1«rrbr, fuII ps~raent of the entire indebtednees represe~ted therebv~ tl~e Iliortgagee~ as truatee, shall~ in computing tl~e sn?ount ot suclt indebtednees~ credit to the account o[ the riortgegor any credil balence remaining under tl~e' provisiona ot (a) ot said p~n?grsph 2. II thern shsU be a det~?ult under sn~ o[ tl~e provieious of t}iis ~uortga~e resulting i~i a public s~le ot the premi9es covered hereby~ or if the Mortgegee ~?cqiycea the propert~ otl?env~se afte~ de[ault, the Morigsgee~ aa truatee~ ahsll apply, a~ tha time of the co~nmencement of such proceedings or at tl?e ti~ne the propercy ~e otherwisc ecquired~ tlie amount then Temainin to credit ot Morig~+r under (a) o[ paragrapli 2 preceding aa a credit on tha interest accrued and unpaid and ~ b~lan~e to th~ principal t~hen reiuRiuing unpaid on eaid note. 4. He ~vill p?y alt ta:as. a~eeeeeoments, wstm~ rabee, t~nd other go~ernm~ntal or municipsl cbargee, finee~, or impoeitione, fo~ ~vhich proviaioa han not beea made hereinbe[ore, and in default tihereof the Mottg~ee maY P~?YY ~ eaoae; and thd Le wiU P~mP~Y deliver tDe oS'icial reoeipts Werefor to the Mortgagee: b. He will peimit, oommit, or suBer no ~v~ate, imp~sinneat, or deteriors~ioa ot esid property ~ ~sny part tbcreof enoept reasonsble wear and t~car• and in the eventi af the fuilur~ of tLe Mort~gor to keep tLe buildiag~e on esi~ premieee aad tbaee to be tu~ect~ on ea~d pee~ises, or impruvemeaLa iha~eoa, ,a ~od repair the MoztBagee mi?Y make such np~izs as in its discretion it msy deean neoeeeary fo~ the Pi'oP~ P~~tion thereof and the full amount ot each aad every such p~yment s6e~ll be due and pwyabb thirty (30) darYs stt~er dem~ad, and aball bo eecurad by tba lien of th~s nnortg,s;e. 6. He will p~?y ull end etngul:ur tbe oosta, cl~and e~cpe~neee, includin~ reaaonsble lawyer'e feee, sad ooete of abetracta ot titk, incurn~d or psid at any time by ortgsgee becauae d the failure oa tLe part of tbe Mort~agor promptl,y aad ful~y to perform the ~eementa and covensnte of eaid promiesory note and tbia mortgage, and eaid ~'8~, snd e:peaees ahall be imnnediate~jr due snd p4yuble ~nd shsll be eeoured by the liea of tbis mort~nge. 7. He w~l oontinuoue~ maintain Laurd i~ursace, oi such t~rpe ortype~s and amonnts as'•1~ortgsgee ms~ trom time to time require, on the improvements aow or benatter on said prsm~'s~ and ezcept when payment tor all such remiums baa tLeretofore beea m~de wnder of parag~s ~ h~eof ~e ~ p~?p p~mptly wben due an~ premiums therefor. All insuranoe aLall be cam~ in oom ~ aPProve~ by 11io~ and the poli ; eaee and renewals t6ereof eball be held by Mortgagee and huve sttached t~ereto loes psy~?ble uses in fsPOr of ~ and in iorm woeptsble to the M In event of loes he will give immediate notios by mail ±011~ortgagee, aad Mortgagee m~y make.proofa~u~ if not mude promptly by Mortgagor~ and esch insurance c~mpany eonoern~ is hereb wWonsed and directed t~a make p~yment ior such loes duectly to M~~a~ inatead of to biortgagor and ~ortgageo 'oia~,?y, and the iffiursnoe prooeeds, or any part thereof may be app7ied by Morw ~gee a~ its option either to ~ reductioa of t~e indsbtedness hereby eecured or to t~e restoration or repair of Lhe pr~pert~ damaged. In eventi oi foreclos~ua of thia mo~ or other tranafer of title to the mortgaged propertj m e=t~n~usahment oi tbe indebtednees eecured h~bj, ~ll r~t, tit1e. snd iateresti of the Mortgagar m and to w i~surance policies thea ia fores dull p~s t~o tLe pum~eer or ~antee. 8. ~t the premises, or sn~ part tl?ereof, be eandenwed under the po~ver ot enunent domain or ac~uircd f~r s public use, t1iP damsgea swarded~ tl~e prooeeda for the~~ of or the considcration for suc•~i arqu~a~tion~ to the extent oi the full sn~ount of the remaining unpaid indebte ~dneee eecured b~ this mortgs~r, arn )?enh~ sssigveci to Uie Mortgagee, and his luirs or asaigns, snd shall be p~d torihwith io said Mortga~n?~ or lus sss~gnee to be spplied on sccount ot the last msturing installmenta of suc4 indebtcdness; pmvideci, )io~rc~er, the Mo ee or his aasi~nee, msy at• his discretion par direct to the Morigagor, lus }~e'us or assigns an~ pu~ ~n or all ot suc sw ard; pro~nded, that ~f the bsn is auaranteed or insnred, t4e conseni of U~e gunrautor er u~surer is obtained in sd~ance of said pr~~nent, 0. The Mortgs~ee may, at an~ time pending s snit npon this mort8a6~, sPP~3' to the ~oart bavtng jurtediction tLet~eof for tbe ~ppointmenL ~ a reoe~ver, snd such eourt ehsll forthwith sppoint s reoeiver of the premises oovered berebp all a~d singular, includin6 all and aingulsr tbe inoome, Pmfi~, and revenuee from wbatever e~urae derived, esch and every of which, it being acpceesly understoc~d, ia hereby mortgaged as if epecifically eet forth snd deecribed in the Eranting and habendttm clauees her~of. SucL appointment shall be made by such court as an admitted i equi~y snd s matter of sbsolute right to esid Mortgagee, and ~vithout reference to the adequacy or insdequacy of ~ the value of the property mortg~ged or to the eolvency or ineolvency of said Mortgagor or t5e defendants. Such ; tents, pmfita, income, iesuee, aad revenues ahall be ~pplied by such receiver sccording to the lien of this mortgage ' and the piactioe of auch oourt.~ In tbe event of sny defsult on the patt of t6e Mort$agor hereunder, the Mortgaaor E ~eee to pay to the Mo on de~nsnd as s reaeonsble monthly rental for the premiaes an amount at lesat ~ equivalent to one-twelfth ( s) of the aggregate of the t~velve monthly installmenta payable in the then current ~ year plua the sctual amount of the annnal taues, aeeeeaments, t+rater rates, und insurance premiums for euch yess ~ aot oovered by t6e sforeeaid monthly peymente. n lO.In the event oi sny breach of this mortgage or defsult on the part of tLe 1liortgagorl.or in the event that ~ sny of esid aums of money herein referred to be not pmmptly and fully paid according to the tenor hereof, or in the event thst each aad every the atipulationa, agreements~ oonditiona~ and covenants of eaid note and this mortgage, are not duly, prompUy, sad fully performed; t6en in either or any such event, the said aggregate sum mentioned in aaid note then remaimng unpeid, ~+ith interest ~wcrued to that time, and aU moneys secwed hereby, shall become ~ due and peyable forU?~vith, or thereafter, at the option of said 1liortgagee~ as fully and completely as if all of the said sums of money ~vere originally stipulated to be paid on auch day, anyLhing in said note o~t in this mortgage to ~ the oontrary not~vithstanding; and thereupon or thereafter, at the option of said Mortga~ee, a-ithout notice or ~ demand, suit at law? or in equity, may be proeecuted as if all moneys eecured hereby had matured prior to its institu- tion. The 1?iortgagee msy forecloee this mortgage, as to the amount so declared due and payable, and the naid ~ premiaes shall be sold to satisfy and pny the same together v~~t6 costa, expenses, and alloaanoea. In case of partial forecloswe of thia mortgage, the mortgaged premiees ahall be aold subject to the oontinuing lien of this mort6n~e for the amount of the debt not then due and unpeid. In such caee the provisiona of this paragraph may again be svsiled of theresiter from time to time by the Eiortgagee. 11. No ~vaiver of ~ny oovenant herein or of the obligation eecured Lereby eball st any time thereaiter be ~elcl to be ~~vaiver of the terms hereof or of the note aecured hereby. " l2. The lien ot tbis instrument ehall remain in full force and et3ect during sny poetpooement or extensofl of the time oE psymenti of the indebtedneee or sny part thereof eecured hereby. ~ 13. If the Mortgsgor default in any of the oovenante or sarcemente oontained herein, or in eaid note, tbea 1bs ]uiortga~ee msy perform tbe same, and all e:pendituree (including ressonable attorney's fees) made by the Mortga~ee ~ in so do~ng ahall draw interest at the rate provided for in the principal indebtedncss, and ahall be repa~•sble ~ tl,irty (30) days siter demand, snd, toget6er with interc~s6 and costs acerued tLereon, ehall be secured b~ ~ thia mort~ee~- ~ 14. Upon the request of the I1~ortgagee tLe Mortgagor shall execute and deliver a eupplementai ~et~ ~r th y th rtgagee for the altention, modernization, im rovcment, ~ain- Aotcs for e sum or sums advanced b e~to P ~ tenance, or repair ot aaid premises, for taxes or asFessments against the same and for sny other purpose ~uthor- ized hereunder. Said note or notes ahall be secured hereby on a parity ~vith and as fully as it the ad~a~c~ ~ evidenced thereby w~ere included in the note first described sbove. Said supplem~ntal note or notes shall bear int,erest at the r~te pmvided for in the principal indebtedness and shall bepa yable in approximately eqtial ~ monthly pa }•ments for such period as may be a,greed upon by the creditor and debtor. Failing to agree on the ~ maturity, the w•tale of the sum or sums so ad~ anced shall be due and pa~~able thirt.~ (3(1) da}•s a(ter ~lcmend Y"' by the creditor. In no eveat ahcll tLe maturity extend beyond the ultiuiate rsaturity of the nole firs6 ~ described above. ~ ~ '~35 ~r,~ ~ ~ cC: ~-Y - - _ . - ~ _