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Home My WebLink About0950 tender to the Mortgagee in accordsnce w+ith the provisions ot tl~e rote secuted 1?ernb~. fuU pa~nient o~ the entire indebtedness represented tt,ereb~•~ the Mort~ee~ as t~rustee~ shsll, in computing tl~c a~uount of such indebtedness, crFdit, to the account of t~~e MortgAgur any creciil, balance rrmaining under the'provisio,?s of (a) of asid paragre~ph 2. l[ thcre ahall be a de[aul~ undcr sn~ o[ tlie provisioiis ot this ~nortgage resul~in~ in a public sale o( the prFn?isc~s co~~ered l?ereby, or if the 1ltortgagee acquues the propert~ otLerw~se after default, the h~ortgaf;~r~ as truatM~, ahall appl~~ at 1he tune of the coinmenccment of such proceedings or a~ tl~e timP tlie pmpertl' ig oth~rv?•ise acc~uired~ the sinount t}?en ~emainin~ lo credil, of Mortgagc~r under (a) of pnragrapl~ 2 preceding as a credit on tl?o int,ereat itccrued and unpaid ~nd tl`e balance to the ptincipal t,hen reiuai~iing unpa~d on asid note. 4. He ~viU pay s~ll taxee, ~sseesmente~ w~ter ratee, snd other governmental or municipsl cbarges, finee, or impositio~~ for ahir.6 provision 6aa not beea made hereinbe(ore, and ia default thereof the 1`ioctgagee may pay the eame; and thut 6e Aill promptly deliver the o~cial reoeipta therefor Lo the Mortgagee: b. I~e ~vill permit, oommit, or suBer no ~vaate, impairnaent, or deterioratioa of eaid property or any part thcreof eaoept rea.9onaLle ~rear and tcar; snd in the event of the failura of tha Mortgagor to keep the buildings on sai~ pmmises and thoee to be erected on eaid premisea, or improvements thet~eon, in ~ood repair the Mortgagec may make such repairs ae in ita diacret~on it msy ~c~m n~ary for t3e praper ~re~ervatf~ ttxsee# ~d the full amounb of each and every euch payment ahall be due and pe~yable tbicty (30) dsya aftet demand, and st~all be eecured by tLe licn of this mortgage. 6. He wrill pay all and eingular the oosta, c6sr~s, s?nd eapenees, including reasonable Tawyer's feee, t~nd ooste o~ abetracts oi title, incun~ed or paid at any time by tbe Mortgagee becauae of the failure on the p~rt of the Mortgagor promptly and fully to perform the agreementa and oovenanLs of eaid promieeory note end this mortgage, and said eosta, c6argea, and expenees shall be immediate~? due and paysble and shall be eecured by the liea of this mortgage. 7. He rvill oont,inuoua~y meintain hszard insursnce, of Buch type or t~pes aad amc?unts as :Viortgagee may vi fmm time to time require, on the impmvementa no~v or hern,e?fter on said pnm~see~ snd eacept ~hen paymen~ tor all such premiums hss theretofore beea made under (a) oi psragrs~h ~~ereoi Le ~vill pay pmmptly wheu 0 due any premiums thcrefor. All insuranoe shall be csrried in t~ompsniee spprove~ bp l~io ee and the poli- ciea and renewale thereoi shall be held by Mortgagee and Lsve attsched tLet+eto loes psysb~ uses in isvor of and in iorm acceptable to the Mortgagee. In event oi loss he ~vill give immediate not,ice by mail to 2liortgsgee, and Mortgagee may make proof of Toea if not made promptly by Mortgagor~ and esch inauranoe oompanp eoncemed is hereby~tuthoriaed and directed to make payment for such loes du~ectly to Mo~~ instead o! to biortgag~or snd Mortgagee jointly, and the i~suranoe proceeds, or aay part thereoi may be app~iad by Mor~ gagee at its option either to the reduction of iLe indebtedness hereby eecured or to t'~?e restorayion or repsir of the property dams~ed In event of foreclostu~e of this mo~a~, or othm~ transfer of title tb'the mortgaged property in extingu~shment of the indebtednees secnred Lereby; a11 tight, tit1e, and inte~+es~ of the Mortgagor m and to sny insuriwoe policies ihea ia ioroe t~?ll p~s to t6e purcbeser or gn?ntee~. 8. ?f tl~e prnni~ses, or an~ pari tl~ereof, be conclenmed nnder the power ot enunent daiiain or acquircd !or s public tise, tlie da~uages swarcied, tl~e prooeeds for the taking of or the consideration for sur~i arquu~tion, to the extent ot tlie full smount ot ihe renuining unpaid indebtec'ineea secnred br this mortg3~~, arn )~ercb~ assigrned to tlie Mortgagee, And his heirs or sasigns, and chall be paid forih~vith to said ~iortgag~~ or l~~ assignee to be applied on account of the last ~neturing instaUments of such mdebtedness; provi~ieci, I?oaerer, the I~Sorigagee or his assipnee, may at. his diecretion par direct to the btortgagor, lus 1?e'us or assigns an~ pnr0 or all o[ suc)i a~~ard; prov,decl, thet if the loan is guaranteed or insund, t4e conesut oI the gunrantvr or insurer is obtained in advence oI said ps~~nen~ 9. T6e Morigagee may, st any time pending s enit upon tbie mortpge, spply to tLe ~o~t ha~Ing jur~ediction tbereof for the Appointment of s reoeiver, and such ~ourt aball forthwith appoint s reoeiver of the premisea oovered hereby all arid aingular, including all and eingular tbean~o~me~ profita, i~, snd revenues from whatever souroe ; derived, each and every of ~vhich, it being ezpressly un ratood, is hereby mortgaged ss if epecifically eet forth and described in the 6ranting and habendum claueea hereof. 8uchsppointme,nt eLall be made by such oourt as an admitted ~ equity and a mutter of absolute right to said Mortg,Agee, snd ~vithout referenoe to the adequacy or inadequacy of ~ the value of the property mottgsged or to the ~olve~.y or insolvency of eaid Mort$agor or the defendants. Such ; renta, profita, income, issues, aud tevenuee ahall be sppliecl by such reoeiver aooording to the lien of this mortgage ! and the practioe of euch oourt. In the event of any defeult on the o~ the Mortgagor hereunder, the l~iortgs~gor ngrees to pay to the ~iortgagee on demand as a reaeonable momt l~y rental for the pr~mises an amount at leasti ~ equivalent to on~Laelfth (3~Y) of thea~e~ te of the twelve monthly iffitallments payable in the then current ~ year plua the actual amount of tLe annual taxes, asBeasments, waf~er rat~es, and ins~ranoe premiums for such yeatc not oovered by the aforesaid monthly psymenta. ' 10. In the event of an breach of tbia mortgflge or defi?ult on tbe ; y ae pett of the Mortgagor,.or in the event that ~ anq of said sums of money herein refen~ed to be not promptly aad fully paid accord'u~g to the tenor hereof, or in the " event that each snd every the at3ptilatione, agr~e.menfa, oonditiono, and oovenante of esid note and this mortg.~ge, ~ are not duly, promptly, aad fully performed; thea in eithet or any euch event, the esid aggrngate sum mentioned ~ in said note then remaining tmpaid, with interest aocrued to that time, and all moneys eecured hereby, shall become ~ due and payable forthwit6, or ther~after at the option of aaid Mortgagee, as fully and oompletel~ as if all of the ; eaid suma of money were orig~nally etipu{ated to be paid on euch day, anyLhing in eaid note or in this mortgsge to the contrary notwithstanding; aud thereupon or theresfter, at the option of said Mortgagee, uithout notice or ~ demand, suit at law or in equity, may be p~~oeecute~ s~a if all moneys eecure~ hereby had matured prior to its institu- tion. The Dsortgagee may fot~edoee this mottgage, as to the amount eu declared due and payable, and the said ; premises shall be eold to satisfy and psy the same together with coeta, e~cpensee, and allowances. In case of partiat foreclosure of this mortgage, the mortgnged ahall be eold subject to t6e continuing licn of this mortgxAe x~ - for the amount of the debt not then due unpaid: In such caee tbe proviaiona of this paragraph may ugain bo availed of thereafter from time to time bq the biortgagee. ' 11. No waiver of anp oovenxnt herein or of tbe obligation oecured hereby ahall ~t swy time thereafter be held ~ to be a waiver of the terma hereof or of the note eecured hereby. ~ ' l2. The lien of tbis inetrument shaU remain in full foroe aad eSect during ~?ny postponement or extenaion of the time of payment of tLe indebted~as or any part thereof eecured hereby. - 13. If the Mortgagor default in snq of the oovea~ats or agr~me,ata oontatned herein, or in eaid note, then the ~ Mort6sgee may perform the sam~e., and all espendituree (including t~easonable attorney's fees) made by the Afort~aRee : in eo doing shsll dnw interest at the rateprovided for in the principal indebtedness, and ehall be mpa~-able thirt~ (30) daya after dennand, and, Logether ~vith interes6 and coeta sccrued thereon, ehall be secureci by this mortgage. ; 14. Upon the request of tLe Mo~ee the Mottgagor shsll e~recute and deliver t aupplemental note or notes for the sum or sums advancod by e Mortgagoe ior the alteration, moderniaaUon, improvement, mnin- tenance, or r~pair of said premises, for taxes or aseeasmenta against the eame and for any other purl~osc nutl?or- ized hereunder. Said note.or._n~,es shall be socured hereby on s parity with and as fuUy as ~f the a~1~-ance ~ evidencecl thereby were included in the note first describal above. Said eupplemental note or notes s}?alt benr interest at the rate provided for in the principal indebtedness and s6all be payable in approximatel~• cyusl monthly psymenta for such period n~ may ba ~reod upon by the creditor and debtor. Failin~ t.o a~;r~•~• on the - maturity, the whole of the sum or suma so advancexi sholl be due gnd pa~~ab;e thirty (3~) ~1a~•s ~?(ter ~i~ rnnnd >-ti by tl~e crMlito"r. In no evcnt shall tLe maturity extend be~ond t1~a ultiuiate rsaturity of LLe note lirst described above. s~ ~ B!}Oii ~.e~~ ~11fi~ - ~ _ - ~.e _ _ . . , _