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Home My WebLink About2142 t v tender to the Mortgsgee in accordsnce with the pmvisions oi tl~e note aecured I~ereb~, itill pt~~uent ot the entire indebtednees represented t}?erebv, the Mortgagee~ as ttvstee, shall, in computing il?e antount of such indebtedneae~ credit to the account of the Mortg~gor iuiy eredil balanoe remsining under tli~ pravisions of (e) ot aaid pangraph 2. 1[ thern al~oll be ~ dehult under tnf ot t}ie pmvisioua oi this iuortgs~e resulting in R public asle of tt~e premises covered hereby, or it ~he Mortgagee ucquirea the propert~ otl~envise after default, the Mortgagee~ ~ truatee, ahell spply, st the time o[ the commenoement of euch proceedings or at tlie time the propert~ ia othPrw ise scquired, the amount then ~emainin Lo credit of Morigagor under (s) of paragrepli.2 pn~ceding as a credit on tl~e interest accrued wd unpsid and ~e b~lr?nce to the pcincipal tihen reiu~?uiing unpaid on said note. ~ 4. He wjll p?y all tsxee, aeeeeeoo~enta, wster rstee, and otber governmental or munidPal chse'gee, 5ae~ or impositiom, for ~vhich provision b~ not been m~de bereinbefore~ and ia defsult thee~eo~f tbe Mottg~gee msy psy tbs eame; and thst he will promptly deliver the o~mi~l reoeipta tberefat to the Mortgagee. b. He will permit, oommit, or suRer no waate, impsinneat~ or deterlorattoa ot ~?id property o~ any pe~rt thereof except reeeonsble ~rear and tRai• and in tLe eveati of the fail~u+a ot the Mo~gagor to l~eep the building,s oa sai~ premieee and thaee to be ereate~ on esid premis~s, o~ improvementa thereo~, 7in-~ood re~r tLe Mortgagee me?y malce such repsire us in tta discretion it may doom neseseary for t!re pcoper praerfatioa ttxseo~ e~d the full amoun0 at eaeh aud every ~eh p~yment e6sU be due aad py?aFila tbt~ty (30) de~ys a[te~ demoancl, atmc~ sball bo aeottred by the liea ot this mor~ga~e. i 6. He ~?ill pay all ~?nd einguLr the oosts, clhar~es~ind expeneee, includin~ reaaonable lswyer'a fees, and ooeta ' ot sbetracta of title, incurred or paid at ~ny time by the ortgagee becsuse of the f~ilure on the part of the Mortgagor { pmmptly and fully to perform the ~gceemente and oovenante of eaid promieeory note ~nd t6ia mo~ag~ , and esid ooete, cbnrges, aad expe~es ahall be unmedi~te~y due and pqyablo aad aball be ~ooured by the liea of t~s' mortg~age~. 7. He ~vill oontinuoue~j maint~in Lwrd'msur~aoe, of such type ortyp~s sad amc+nnta as Mortgsgee msy , from tima to time require, on the improvements now or Leseatter oa eaid - and esoept wLea paymen~ 4 ior all sucL premiuma bss tberetofore been ~ e~ er,(~ m PwBn?~ P4Y P snd the ~li due any pnmiums thorefor. ciee and nne~vals thereof sbsll b~e Leld b Mortgagee and hsve st~mt~achp e~d tL p+eto loes p~?abQ le cLuses in iavor of and in form aooeptable to the Mo ~gea In eveat of loea he will give imnoediste notios by m~ to 1liortgagee, und Mortgagee msy moice.proof~o f loes 3f not made prompt~? b~ Martgagor~ and e~ch msuranoe.oompany . ~oncernai ie Lereb sutLonsed snd direeted t~o maloe p~yment ior eueh bes du+eet~ to M~ matead of to biortgugor und ~ortgage~ joiatly, and t~be'mnuanoe prooeeda, or aa~y patt thes+e~f mt~? be apF 'ed by~-Mort- taa~s ~sgee at its op4on either to tbe redncti~oa o~ tbe indebtednees hereb7 seCnred or to t~e restaa~stwn ~ rePair of the propert~ dama~ed. In event of foreclos~a~s o~ t~hia mo~~ or otbee traasfer of title to the mortgaged proPe~l in t oi tLe indebtedner ~ewred hereb~; aU tight, tit~er aad inf~eresi of tLe Mortgagor ~ ~a and tio sqy insuranoe policies t~Len ia ioros ~6aII ps~s to tLe pnrcLaoer ~ graniee. , 8. li the prPmises, or an~ psrt thcreof, be oondemned under the power of eminent doniain or acc~uircd for t a public nse, tlie damages awardt+d, tlie prooeetis for the~ oi or the eonaideration for sur~i ~cqu,~ition~ to ~ the extent of the tull sunount of the renuinin$ unpaid indebtec~nees eecnr~d br this n?on~, am 1?ereb~ assigneci to tl~e Mortgagee, snd his heirs ar a~sagns, aad sh4ll be p4id forih~vith to eaid Mortga~c~ or lus ass~gnee to be spplied on accwunt of the Lat maturing inatallmenta oi such indebtedne~as; provided, lio~c~er~ the Morigagee or hig assi~?ee, insy at hie diecretion par direct to the Mortgagor, his heira or assigns an~ pari or all o[ surh sv?srd; prov~ded, thst if the loan is guaranteed or insured, ti~e ooneeut ot the gunrAn?tor or inurer is obt.ained in ad~rance oi said psc~nen~ 9. The Mort~ee may, st any time pe~ndin~ s s~it tipo~ tMe moat~ge, spp~y to tbe eo~t bsvlna jurie~ctioa thereof for the sppointanent d a reoesver, and such eourt ~hsII fatLwlth appoint s reodver o[ t6e premises oovered ; hereby all s~3d singular, including all snd singu4r ~e oo~~ profits, iesuea, aad rev~nues from whatever eouroe = derive~, each aad every of ~vhich, it being e~preeely nadarslooc~, ie hereby mortg,eg~ed aa if specifically eet forth and ; deeeribed in the ~ranting and hsbendum clavees Lereof. 8nch~ t~t ehaIl be made by euch oourt as an admitted equity and s matter of sbsolute rig6t to oid MoctaA~ee, ~wd witbout tefe~+eaoe to the iulequacy or inadequacy o~ the value of the property mortg~ged ot to the solv~y ar ~so~v~ay ot esid M~t~~ot or t~he defendants. Such rente, ProfitB, income~ i~, aad reveaues sball be by eaeh reoeiver aeoo~+ding t~o t6e lien of this mortgsge ~ and the pcactioe of such oou~.- In the event af any d~ on tbe af tbe Mortg~Bor ber~nnder, the Mort~a~or ` sgreea to psy to tbe Mo on demand ae s reaaonabb mont~y reatal for tLe premisea an amount at ~-esat f equivaknt to one-twelith~of tbe ~t~e ef the twelv~e manth}p ~ne~e~lmeata paysbte in the then curren0 i year plus the actual amount of the unn taxes, aeeeemoneata, w~?tes r~?tea, and ins~usnoa premiuma for euch yeat ~ not oovered by the aforeeaid montbly pe?ymenta. 5 10. In the event of any br~,h of thts mortg,age o~ defantt on tbe part of tbe Mortg,n$or,.or in tLe event thut ~ any of aaid aums of money herein refened to be aot pd~omptly and fullypaid aooordu~g to the tenor hereof, or in the ~ event that esch and every t6e st~p~ilstions, agreements, oondit3~o~, and oove?.nante oi eaid note and this mortgage $ ere not dulY, P~mP~Y, ~~3? P~ormed; thea ia eitL~t ae aey weh event, the esid aggregate aam mentione~ ~ in eaid note then remainin6 unpaid, ~vith interest seGttsed to tt~at tia~, and all moneya eecured hereby, ahall become due and psyable forth~vith, or thereafter at the option of eaid Mortg,agee, as iully and oompletely as if all of the eaid sums of money ~ere orIg{nally atipu~ated to be psid on eucL dsy, anylbing in eaid note oY in thia mortgage to the oontrary notwithstanding; snd tbet+e+ipon or t6ereafter, st t6e option of ssid Mortgagee, without notice ot ~ demand~ auit at la~? or in equity, msy be pe~oeecutsd t~e if all mo~eys seaured Lereby had matured prior to its institu- ~ tion. The Mortgagee may foredaee tLia mottgag~e, a8 to the amouat so declared due and payable, and the suid ~ premisea shall be eold to sat3afy and psy Lbe ~ame together ~vith eosta, ezpensea, and allowances. In case of partial ~ foreclosure of thie mortgage, the mortgagedpr~n~s ahall be eold subject to the oontinuiag lien of this mortgage ~ for the e?mount of the debt not then due and unpaid: In such caee tbe proviaions of thia parsgraph may sgain be ~ availed of ther~after fmm time to time by tLe biort~agee. ~ ~ ~ 11. No ~vaiver af any ooveaant herein or af tbe obligation sec~n+ed Lereby eLaII i?t aay time thereafter be l~e3d ' ~ 1o be a waiver of tbe terms he~eof ae of tLe aote eeau+ed hereby. ~ ` ' 12. The liea of tbis iastrumeat ~all reaaain in ttill toroe aad eBect during any poetponeaouent or exteneioa oi ~ - the time of psymeat o[ the iadebtednees ee ~a,q pad tLereot eecured Lereby. _ $ 13. If tLe Mortgagor defsult ia any ot tLe ooveas~nte or agre~~ta oontained he:~ein, ot in enid note, then tbe l~Iort~?gee may perfam tbe anme, and a11 e~pmditures (including reaeonsble t?ttorney's feea) made by the MortgaRee ; in eo do~n shall dnw interest at the rsteprovidc+d for in the principsl i~debtedness, snd eha11 be mpa~ able ? ~ tLie mo 0} day-a aftet dem~nd, and, together with intecest snd oosts socrued thereon, shall be secured by s Y~ ~sB°' i 14. Upon the reqnest of the Martgagee tLe Ltortgagor shall e~eoute sad deliver a suppleraental note or t~ ootes for. tLe sum or sums udvanced by the Mortgagea for the sltention, modernizstion, improvement, mnin- ~ tenance, or repair oi said premieea, for ta:es or as~esementa agsi~t the ssme and for any other purpose au thor- ized hereunder, Sa,id note or notes aLall be ~ecured ha~eb~r on a psrity ~vith snd ss fully as ~f the ad. anoe x>. , t~ evidenced thereby ~vere included in the note Brat desc~nbal sbove. Said eu ple,~nental note or notcs ahall bear interest at the nte provided for in tLe principal indebtedne~ aad ahall payable in ap pruximately tqual : ~ monthly payments for such period ta msy be agreed upon by t6e creditor and debtor. Failing to agrec on ~he ~ maturity, the xbole of t~he sum or aume w ndvanced sha11 be due and pa~ able thirt,y (30) da~ s a[ter demnnd by the creditor. In no avent s6a11 the maturity extend beyond tha ultimste r~aturity oi tLe note fira6 described sbova - ~ eoo~ 2~36 ~E 2~40 . _ ~ - . _ _ . . _ _