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Home My WebLink About1445 AND the soid Morfgogor hereby tovenants ond ogrees w;th Ihe said Mortgage~ as (ollows: FIRST: That the Morfgogor is lowfvlly seized of the above deur~bed premises in fee simple ond hos good righ~ to sell and convey the some to the Mortgogee; thof fhe said premises are free and disthorged of ond irom oll toxes, tox titles or•te?tit'ico~es. , judgments, mechonic's liens and encumbrorKes of ony noture or kind whatsoever ond that fhe Morfgo9v~ w~~~ 1ullr worronf a~d : defend the some fo the Mortgogee, ogoinst the lawful cloims ond demonds of oll persons whomsoever, end w;~~ moke such further . ossu~ances fo perfecl fee simple fifle to said land, in fhe Morfgagee, as moy reosonoble be required, ond will poy the severol " sums of money a9r~ed i~ the soid note to be poid and all instollmenls of princ;pul and ;n~erest fhe~eon prompt~r whe~ due, ond ~ occording ~o the true tenor ond effecf of the said note. SECOND: Thot fhe Mor~gogpr wi11 poy al~ and singular the toxes. asse:smen?s, levies, and encumbro~+ces of every natu~e on the obove desc~~bed properlr, ond upon fhis mor19a9e a~d ~+ote, or the money secured therebr, before delinqventy thereof ond receipts evidencing poyment of soid toxes, assessments, levies and encumbrances sholl be deposited with the Mortgogee on or before Morch 1 st of each succeeding yeor during the term of this mo?tgoge; end if some be not promptly poid when due, Ihe Mortgegee may (wifhe~f obligaf;on fo do so) poy fhe same, or become purchaser of ony lowful evidence ~hereof, or certifitote , : therefor, wifhouf waiving o~ a{~~~~~9 a~r ~~9ht hereunde~ ond in fhis mortgage, o~ the soid note which this mor~gage setures; ond such poyment: or expenditures so mode sha11 bear interest from the doto thereof o~ the rete of xjg~p~ nine an d one half per centum (9.5$) per annum. ~A~°~ ; TNIRD: That fhe Morf9a9o? wi~~ keep oll reo) ond personol prope?ty now or hereafter encumbered by the litn of this mort9age insured os moy be required from time to time by the Mortgogee ogoir?st loss br fire, windstorm and other hazards, casualties and contingencies for such pe?iods and for not less than such omounts os moy be required by the Mortgagee and ro pay ~ promptly whe~ due all premiums for such inwronce. The amoun~s of such insuronce required by the AAortyagee ore expressive of ~ only the minimum vmounts for whi~?i said insurance shall be written end it sholl be incumbent u ~ additionol insuronce as mar be necessary to meet and comply fully with all co-insurance requiremenh conta ned ntsa d~tain suth t the end that said Mortgagor is not a co-insuror the?evnder. Insu?a~ce shall be written br o tompanr or tomponies o ~I~~ ro ~ Mortgogee and all policies and re~ewols thereof sholl be held by the Mortgegee. All detailed designations by he Mo gog r ~ which are aaepted br fhe Morigagee and all ogreemenis betweeo Morfgagor ond Mortgogee relofing fo inwronce, new existing ` on c~reafter made, shall be in writing ond sholl be o port of this mortgage agreement os fullr os tho~gh set forth verbotim herein and shall govern both pa?~ies hereto end fheir successon ond ossigns. No lien upon ony of soid pplicies of insuronce pr upon a~r refund o~ relurn premium which mey be poyable on the cancellotion or terminotion thereof, shol) be given to other thon fhe Mort= gagee, .except by proper endonement efFixed to such policy and approved by Mortgegee. Eech policy of iosu~erx~ shap hove offixed thereto a Standord Mortgagee Clouse occeptoble to the Morfgegee, moking all loss or bsses under wch poNty poyable to ihe Mortgugee os ih inferest moy oppeer, I~ the e~e~t ony sum or sums of money become poyable thereunder the Mortgogee shall hove tke option to receive ond epp~y }he same on ootounf of the indebtedness hereby secured, or to permit the Mortgogw to ? receive ond vse it, or any port fhereof, wiMwuf fhereby woiving o~ impoiring ony equity, lien or right under ond by vi~be of this ~ mortgage. In event of bss or physital doma9e ro the mortgaged property the Mort9o9er sha~~ give immediote notice tfiereof by ~ moil to the Mortgagee and the Mortgogee mar moke proof of loss if the same is not made promptly by the Mortgogor. M event ~ oF forectosure of this mortgage or other trorufer of title to the mort a ed ro e ~ hereby, oll right, title and interest of the Mortgagor in and to an ~s~ a~e P~~n extingvishment of the indebtedness sec~red ~ grontee. Upon ony default thereof, the Mortgagee moy (but without ~~~9a~ ~,~en in force shotl poss to the purcheser or port so to do) ploce insurance en wch ~ buildings and poy the premium end chorge such sums so paid to the Mortgagor ond such sums of money so paid sholl beor interest from the dote of poyment ot the rote of Per anntan. nine ar~d o~e-half per oenttun (9.5$) . FOURTH: That oll sums of mone ~ y paid or coused to be poid by the Mortgogee under the terms of this mortgege end herein ~ specificolly provided for, ond including anr expenses incvrred by the Mortgogee in collection of the sum secured by th;s mortgag~~ shall be covered by the lien of this mortgege, the same as the sums of money represented by the note whith this rtwrtgege secures. ~ i FIfTH: To permit, commit or suffer no weste, impoirment or deterioration of said ro e ~ ; the failure of fhe Mortgagor to keep the buildi s on said P P~' °^r POn ~ereof, ond upon ^9 properfy in 9ood tondition of repair, the Mortgcgee moy demond the ~ ~ immediote repair of said buildings, or on irxreose in the omount of securi g secured, ond the failure of the Mortgogor to comply with said demond of fhe Mortgagee for a per d oftfif een (15) doys sha I ; ~ constih,te a breach of this raortgege, and, at the option of the Mortgogee, immedietely mature the entire unpoid princ;pol and ~ ~ ~nteresf hereby secured, ond the /y?a~9a9ee may, without notice, institute proceedings to foreclose this mortgage, and apply fpr the appointment of a receirer, os hereinofter provided. ~ ~ e - ~ SIXTH: That the Mortgagor hereby promises, cevenonts and ogrees to pay fhe sums of money ond interest os mentioned ~ in said promissory rwte, together with ony a~d a~~ other wms justly due and owing the Mortgogee by the terms therein, ond secured ~ to be paid os stcted therein prompily when due. If default shalS be made in the poyment of the soid svms of money or a~r Part ~ thereof os provided in the said note or this mortgoge, or if the interest thof iney becorne due thereon or ony port thereof shall be ~ ; in defouft ond unpaid for o space of fiffeen (15) dars, or shovld the Morfgogor breach or fail to comply w;th any other covenant r or agreement on the part of the Mortgagor to be complied with (en fhose coses in which the option of ihe Mortgogee of occelero- ~ ~ t~on is not othe ; ~ nyise expressiy provided herein) ond such breoch or non-complionce con~inve in existen:e for a space of fifteen (15) ~ doys, then ond from therxeforth, ot the option of the Mortgogee and withov? npt~ce to fhe Morfgogpr, the whole of said principal ~ sum expressed in soid note, fogether with ofl other sums therein as well as herein provided for, shall become immediotely due ond ~ payable, wi~hout not;~e.ro the soid Mortgagor. ~ SfVENTH: That in cose it shuuld betome necessary to ploce this mortgoge and the note secu~ed hereb or either f ~ i ~ ;n the honds of on u~forney for t~Ilection, the soid Mortgogor covenanh ond agrees with the Mortgogee fo a a~~ ~ost o them, ~ and expenses of s~~ch collectio~, irxluding reasonable ottorney's fees whether collected by foreclowre or othe w Se. s, chorges ~ ~ EIGHTH: Thot, in the event onr suif is brought upon this mortgage, whether to foredose i1, to reform it, or otherw;se, a~d or to enforce porment of ony cla;m hereunder, fhe Mortgogee mar opply to any tourt having jurisdiction thereof for ihe ~ ~ F; aopointment of a receiver of said mortgoged prpperfy, us welt as ihe income, profits, issues and reven~es thereof, and the said Y ~ : ~ I ~ - Z - ~ ~ z~s ~E~.4~~ BOOK ~ . _ ~ ~z ~ ~>r._, . . , . - - ~