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Home My WebLink About1943 tender to the Mortga~,~e in accord~nce w?jth the.proyisiam at tl~e note eecured l~~reb~~ fuA p~?~mert o! the entire indebtednees repreBenLed thereb~~~ the Mortgagee, as t~rustee, ehall~ in coniputing tl?e antount oI sucli indebtednees, credit to the e?ccount of the Mortgagor anp credil beb?ace remaining under tl«? pmvisiona ot (a) oi said p r~ph 2, II there ehaU be a dei~ult undcr tns ot ti~e provisions ot thia inortgs~e result~ng in a public sale o the premises covered hereby, or if the Mortgegee ~?cyuires the pmpett,r other~vise af~er dolault, the Mortgagee~ aa truatee, shall spply, at the tima oI the co~nmencrment of such proceedings or at tl?e time the properts is othPrv~ ige acquired, the smount then ~emainin to credit o[ Morigugor under (s) of paragrepli 2 preceding as a credit on t,he interest uccrued and unpaid and ~e b~al4nce to tLo principal Lhen re~uewiing unpeid on said note. 4. He will p?y ell tsxea, seeee~sments, water rstee, snd otLer gm~ernmental or munfcipal chargea, finee, or impositions, for wbich proviaion hae not been made hereinbetore~ ~nd in default thereoi the Mottgagus may psy tho aame; and that he will promptly deliver the official reoeipta thee~efor to the Mortgagee. b. Iie will permit, oommit, or suBer no waete, imp:?irmeat, or deterIor~?tion of eaid propetty oe any pa?r~ tbcreof except rea~onsble aeur and tear• and ia tLe eventi of the failure of tbe Mort~or to lceep tLe buildiags oa aai~ pc~emi9ee and those to be erect~ on eaid p~nis~a, or imprv~vevnents t6cseoa~ .a 6ood r~mir the Matgagce may malce euch repairs ae in ite diecretioa it msy deem neoea~ary for the proPer Pr~eervstion thereo~, ~nd the full amount of each and every such psymeat ah~ll be due and pqy~bb th~rf~i C30) d4; a~~er dema~~; a~ s~ll be eecuted by tbe lieri of thie mortgege. 6. He w+ill psy all snd etngiilar the oost~, and e~cpeaeea~ inctuding reaaonsble lswyer's feee, snd ooeta of sbetracta of title, incurred or patd at any time by~ortgagee bec~uee of tbe failure on the pait of the Mortgagor P~'omPtly ~wd fully to pedorm the ~greements and oovenante of esid promieeory? note and t~is mortgege, and eaid wats, cLe?rBes, aad expenees ehall ba immediate~y due and pe~y~ble and s!u?ll be secured by the rien of tLia mortgage. 7. He will o~ntinuoue~j maintain bszara i~unace, of such type or types and amc+nats ss Mortgagee may from time to time require, on t,he improvements now or L~ereafter on said prsm~ and exoept whea payment Ior sll such premiuma has theretofore been msde under of p~r~agr~Fh 2~ereoi he ~rill pay promp~y wLen due sny pnmiums thereior. All inaurance ahall be csrried in eompanies approvec~ by I4io~g~g~ and tbe pol~ cies and renewals thereof ahall be held by Mortgag~ee and Lsve sttached thereto loes peyable cTsusee ia fsvor oi and in foran acceptsble to tLe Mo In event of loes he ~vill give immediste not~ice by mail to 1liortgagee, and Mortgagee msy make proof o~~ if not mnde promptly by Mortgagorf aad esch insurenoe oompanp eoncerned is Lereb sutLorized and directed to make pa~yment for such loee d~rec to M~r~a~ instead of to biortgagor sod ~ortg:gee jointly, aad the i~uraaoe prooeeds, or an,y patt there~ may be app7ied by Mort- ~gee at its option eitLor to tbe reduction oi t~Le indebtedaees hereby eecured or to t~e restoration or repair oi t6e pi+~pertj dama~ed. In event of foreclosure of this mo~g~g~, or other transfer of titlc to the mortgaged property ia eztin~u~ment oi t~~e indebtednees eecnred ~+ebj; all t~ht, tit1e, aad interest of the Mortgagor sn and to aay iasunwoe policies then in foroe a6all pess to tbs pu~aeer or grantea. 8. ?f tl~epre~nises, or anr part th~reo[, be condenwed under the po~rer of enunent doniain or ac~u'urd !~r a public use, tl~e diu~iages awarcied, tl~e pmoeeds for the ~o! or the consideration [or suc•~i acqu~ition, to the eatent ot the full ~unount of the remaining unpaid inde tec~nees eecnred b_r this nionga~r, acr l~ereb~ assi~ned to tlie Mortgagee, and his t~eirs or asaigns, and ahall be paid forihwith to said Mortgagc~ or lus a4s~n ee to be spplied on account of the last matur~ng installments o! such indebtedneas; provideci, lio~e~~r~ the Mo ee or his assi~nee, ~nay at• hia diecretion pa~ direct to the Mortgagor, his lu~it~ ur assigns anr parrt, a or all o[ suc av?ud; provided~ that if the loan is Euarsnteed or insnred, the conesiu oI the guarantor or insurer is obt'ained in sdrance of said ps~~uent 9. The Mortgagee may, st aay time pendin6 s enit nP~ ~~i~Be, aPP2Y to the eonrt having juriedict~on thereol for tbe sppointment of a receiver, and such e~~ut ehall forthwiW sppoint s reoeiver of t~he premiaes oovered bereby all a~d aing~ilar, including s11 snd eingular the inoome profita, i~suea, and revenues fmm whatever souroe ' derive~, each and every of which, it being acpreealy undezsLoo~, ia hereby mortgaged ss if s~ecifically eet forth and , described in the 6ranting and habendum clauees hereof. Such appointaneat shall be made by such court as an admitted j equity snd s matter of absolute right to eaid Mort,gasee, and ~vit6out reference to the adequacy or inadequacy of I tLe value oi the property mortgaged or to tt,e eolvency or ineolvency d said Mortgagor or t3e defendants. Such rents, profite. income, ieguea, aud revenues s6all be spplied by such receiver aooording to the lien of this mortgage ( and the practice of euch court.~ In tbe event of any default oa the p~t of the Mortgagor hereunder, the Mortgagor ! agrees to pay to the Mortgagee on demand aa s r~aeonabk monthly rental for the premisea an amount at leaat ~ eqwvalent to one-twelfth (~Z) of the aggregate of the t~relve monthly installmenta peyable in the then curcent ~ year plus the sctual amount of the annual taxes, sseeasments, ~vater satee, and insurance premiums for euch year ~ not oovered by the afore8aid monthly peymenta. ; lO.In the event of any breach of this mortgage or default on the pert of the Tiortgagor!_or in the event t~?e?t g any of eaid eums of money herein refen~ed to be not pmmptly and fully paid sccording to the tenor hereof, or in the ; event that each and every the atipulations, agreements, condition~, and oovenants of said note and this mortgage, ' are not duly, promptly, and fully pedormed; t6en in either or any such event, the said aggregate sum mentioned ~ in eaid note then remaining unpaid, w~ith interest ncerued to that time, and all moneys eecur~d hereby, shall become due and paysble forthwith, or thereafter~ at the option of said Mortgagee, as fully and completely as if atl of the s. said aums of money were ori~nally stipulated to be paid on such day, anyLhing ~n eaid note or in this mortgage to ~ the oontrary not~rithstanding; and thereupon or t.hernafter, at the option of 8aid Mortgaaee, without notice or demsnd, euit at law or in equity, may be proeecuted as if all moneys eecured hereby had matured prior to its institu- ~ tion. The 1liortgagee may forecloee this mortgage, as to the amount so dectared due and payable, and the said premises shall be eold to satisfy and pay the same together with costs, expenses, and allowances. In case of partial foreclosure of thia mortgage, the mortgaged premises s6all be sold subject to the conLinuing lien of this mortgage ~ for the amount of the debt not then due and unpaid. In euch case the provisions of this paragraph may again be ~ svailed of theresfter from time to time by the l?iorfgagee. ~ I 1. No ~vsiver of anq oovenant herein or of the oblig~tion eecured bereby shsll at aay time thereafter be held ~ to be s waiver of the term~e hereof or of the note eecured hereby. - ' 12. T6e lien of this instrument ahall remain in iull foroe and eNect during anT postponement or exteneioa of the time of payment of the indebtedneea or sny part thereof eecured hereby. _ ~ 13. If the l?~ortgsgor default in any of the oovenanta or agreementa oontained herein, or in eaid not,~, tt~efl tbe Mortga6ee may perform t.t~e same, and all ezpeaditures (including reasonable attorney'e fees) made by the Mort~s~ee a in eo doing ahalt draw interest at the rate provided for in the principal indebtednces, and ahall be rnPayable ~ thirty (30) days after demanci, and, toget6er witL interes6 and costs aocrued tLereon, ahall be aecured b~. tbis mortgaEo. ~ l4. U n the r uest of the Mo z5 po eq rtgagee tbe Mortgagor shall execute snd deliver a eupplem~ntal ~ote ~r ~ uotes tor the sum or xums ad~ anced by tbe ltortgagee for the altention, modernization, improvcment, ~nrin- tensnce, or rnpair oi said premises, for ta~es or ssFessments against the same and for Any other purpose auU~or- ~ ized hereunder. Said note~ or notes sl?all be secured hereby on s parity with and as fully as ii the adcaACe ~ evidenced thereby K ere incluJed in the note first described sbove. Said snpplem~ntal note or not,es shall be~r ~ interest at t6e rate provided for in the principal indebtedness snd shaU be~a y able in spproximatcly eqnal ~ monthly pati•m~nts (or such periad as mny be a~recci upon by the creditor and debtor. Faili~~ to agrec on th~ mRt~urit.y, t~e w~lsole oi the sum or sums so a~lr~nced shall bc due end pa~•ahle thirtY (3Q1 da~'s a(ter d~man~l by tt?e cr~dit.nr. In no event sh~ll tdie maturity exteud be3•ond the ulcitnete uatutity of tLe note fi~4 deccribed s~bove. ~ ~ ~ ~i~;~ vn~~~~9~ ; . . . .~u