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Home My WebLink About2250 tender to the Mortgegee in accordance with the provisio~m at tl?e note secured licrcbr~ full pa~nient of the entire indebtedness represented thereb~•. tl~e I?iortgsgee~ ae irustee, ehall~ in con~puting tl?e smount oI aucli indebtednees~ credit to the sccount o! ~he Mortgegor eny creciit balance re~naining under tlie'pro~isiona of (a) of ssid parsgraph Z, If thern ahall be s default ut~der gn~ oI t1?e provisiona of t!?is mortgage resulting in a public sale of tl~e premises covered hereby~ or it the Mortgagee e?cquirea the prnpert~ otl~erwise at~er default, thc Mortgagee~ as truatee~ shall apply ~ at tha tim~ of the coitunencPment of ~uch proeeedings or ~t tlie timP tt?e property is othPrv~ise acquired, L}ie amount then Temainin~ to creclit o[ Mortgagor under (a) of paragrapl~ 2 preceding as a crcdit on tlie iuterest uccrued and uapaid and Uie bulance to tLg p~incipal Lhen reiuauung unpaid on ssid note. 4. Ha will psy ai! ta?xes, seeeeemente, water ratee, snd oWer go~eramental or municipal chargea, finee~ os ia~positione, for ~vhich pcoviaion has noL beea made hereinbefore~ and in default thereof the Morlg,agee may pay t~e e~ne; i?nd tLi?t he will promptly deliver the o8'icial reoeipte tberefor to the Mortgagee. ~ b. He will permit, oommit, or suBer no w~ate, impairment, or deterioratioa of eaid property or sny pait tbereof except reaeonable we~r and tear• and ia the event oE the failure ot tbe Mortg~gor to kcep the buildiags on eai~ pc+eemiaee and thoee to be crectec~ on eai~d p~;a, or iwpruvemen;a th~on, ,n g~wd rapair the Mortgt?goe may make euch repaire ae in ite discretioa it msy deean neoeeeary for the proper preaervatioa thereo~. and t~he full umount d each e?nd every such psyment ehall be due snd pqys~ble thitty (30) d~ys attec demand, sad ahall be sacured by t~he lien d Lhie mortgage. 6.. He w~ll pny all and dn6uler t~e ooste, aad e:peneee, including reasonable Iswyer'e ieee, und coste of abetracta of title, incurred or paid st any time b~~ortgsgee becauae of the failure on the pnrt of the Mortgagor promptly snd i~y to perform the agreementa aad oovenanUs of eaid promiseory not~e and this mortgsge, and said ~oets, chargea, and e:peases ahall be imm~ediate~y due and p~y~?b1e and ahall be secured by the liea of this morigage. 7. He ~1 oontinuo~ msintain Lszard insurance, of such type or types and amounts as :Vlortgsgee may from time to time require, on the improvemente now or hereafter on said premises and eacept when payment tor all such premiums has~th~tofore been msde under (s~ oi psragnFh ~ hereoi ~e will psy pram~tl~ when uue uuy premiums iacsreior. aIi insurance anau oa carriea in oompsn?es spprovea by riorigagee sna tne poii cies and renewals thereof ehall be held by Mortgagee and bsve sttsched tLereto loes paysble clsusee in isvor o~ and in form scceptable to the Mo ;agee. In event of loes Le xill give immerliate notice by mail to 1liortgagee, and Mortgagee may moke.prooi~~ f Ioea if not made promptly by Mortgagor~ and each inauranoe oompany ooncerAOd is hereb suthonzed and directed to make payment for such loes d~rectly to Mortgagee~ b tead of t~o biortgagor snd ~ortgagee joint?,y, snd the insurancae prooeede, or any part thereof may be appli y Mort- ssgee ita option either to the reduction oi the indebtedneea Lereby eecured or to t'6e restoret~on or repair of the pmperty damaged. In event of foreclosure of this mort,~~, or other t~ransfer of tStle to the mortgaged ~m~d ~in eitingu~a~onent oi the indebtedaee6 eecured Lereby; all right, title~ snd iat,ere~t oi the Mortgsgor aqp inswywce policies then in foroe a~all p~s to tl?e purcbaeer or grant~ee. 8. T[ the pre~nises, or ~?n~ pari t}~ereof, be c~ndenmed nnder the power of enunent doniain, or acguirnd f~r s public use, tlit+ demages swwrded, tl?e prooeeda for the taking of or the consideration for suc•1~ arqu~ition, to the extent of the lull amount of the remsining unpaid indebtedne8a secured b~ this mortga~, arn l~er~b~ assigneci to Uie Mortgagee, xnd his heirs or asaigns, and she~ll be paid torthwith to said Mortgagcr or lus ass~g~eee to be applied on account of the last matunng installments of sucli indebtrdne~; provided,l?ovserer, the Mort~apee or his assipnee, may at his discretion pa~ direct to the Mortgagor, lus heirs or assigns unr psrt, or all o[ aucTi sx~ard; provided, that ~f the loan ie buarsnteed or insured, tlie consent o! the guurantur ar insunr ~ obLeined in adrance of aaid pe~~~un~. ; 9. The Morigagee may, st any time pending s snit ~on this mort8~, sPPiY to tbe eourt having jurisdictiar ; thereof for the appointment of s receiver, snd euch eourt ehall forthwith appoint a receiver of the premiees oovered 4 bereby all urid aingular, including all snd aingular the inoome, profite, issues, and revenues irom whatever eourae ` derived, each and every of which, it being exp~eesly underatood, is hereby mortgaged as if speci6ca11y ~et forth und ; described in the 6ranting and habendum clauses hereof. Such appointment shall be made by such court as an admitted ; equity and s mAtter of absolute right to ssid Mort,gagee, snd ~vithout reference to the adequacy or insdequacy oi ~ the value of the property mortgagc.~d or to the eolvency or ineolvency of said Mortgagor or t'~e defendants. Such ; rents, profits, inoome, isaues, and revenuea 8hall be sppliecl by such recciver according to the lien of this mortgage ; and the practice of euch oourt. In the event of any default on the pert of the l~iortgagor hereunder, the Mortgagor ' agrees to pay to the 14iortgagee on demand as a reasonable monthly rental for the premises an amount at least ; equivalent to one-twelfth (3/2) of the aggregate of the t~velve monthly installments payable in the then current year plua the actual amount of the annual taxea, aeeeasments, water ratea, and insuranoe premiums for Buch year = not oovereci by the aforesaid monthly peymenta ; ~ 10. In the event of any breach of this mortgage or default on the psrt of the Iliorfgagorr.or in the event that ~?ny of eaid aums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the ~ event that esch and every the stipulations, agreement8, conditione, and covenants of said note and this mortgxge, ' are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned ~ in said note then remaining unpaid, Rith interest accrued to that time, and all moneys secured hereby, shall become ~ due and payable forthwith, or thereafter, at the option of said Diortgagee~ as fuUy and completely as if all of the ~ said sums of money aere originally stipulated to be paid on auch day, anything in said note or in this mortgage to ~ the oont.rary notwithstanding; and thereup~n or thema(ter, at the option of said 1~4ortga6ee, aithout not~ce or ' demand, auit~at law or in equity, may be proeecuted as if all moneys eecured hereby had matured prior to its institu- s tion. The Aiortgagee may foreclo~e this mortgage, as to the amount so declared due and pa~•able, and the said ; premises ahall be sold to satisfy and pay the same together with costs, expenses, and allowances. In case of partisl ~ foreclosure of this mottgage, the mortgaged premises ahall be sold subject to the contiouing lien of this mortRage _ (or the amount of the debt not then due and unpaid. In such case the provisions of this paragraph may again be ~ availed of thereafter from time to time by the l?iortgagee. ~ I 1. No wsiver of any oovenant herein or of the obligation eecured hereby ahall s?t sny time thereafter be held =5 t,o be ~~vaiver of the terme heraof or of the note secured hereby. ~ l2. Tfie lien of thia instrument ahell remain in full foroe and ettect during sny postponement or extendon of = tbe tinne of payment of the indebtednesa or sny psrt thereoi eecured hereby. 13. If the Mortgagor default in ~?ny of the oovenants or agreements contained hetein, or in eaid note, then tbe s Mortgagee may perform the eame, and all expendituree (including rea,9onable attorney's feea) macle by the Mortga~ee - in so doing ahall draw interest at the rate pro~ ided for in the principal indeLtecincss, and shnll be mps~•abie ' thirty (30) daya ~tter demand, snd, together witL interost and costs accrued tLereon, shall be at.~curecl by = this mortgage. ~ = 14. t'pon the request of the Mortgagee the Mortgagor shall eaecute snd deli~er s aupplemental aot~ er - notes for the sum or sums ad~anced by tbe ~tortga~ec for the altention, modernization, improrcment, ~ain- tenance, or repair of aeid premises, for taxes or as.~essments against the same nnd f~r ~ny other pur~~ose author- _ ized hereunder. 5aid note or notes shall be aecured hereby on s parity with and as tully as if the ad~•snce ericlenceci thereby Rere ineluded in the noLe 6rst described above. Said supplementi?1 note or notes shal[ bear intcrest at the ra.te pmrided for in the principal indebte~lness and shslt be J~ayable in a~proximatcl~ cqual - , - . . iiiCrui~n~ lr:~ im•ni~ wi ~ucu ~(r,oa xs may ue agrced u~mn oy ii~e crc~iitor anu ~~et,wr. 1' 7i11111~; l0 &~;fCP un ene m: turit_•, tfie ~~Lole of f!?e sum or ~iims so ad~•anced ~1?nll be due and pn~•ahle t6irt.~• (3t)) da~•s aft~r ~1~~mRnri hy t6e crc~litor. In no evetit shsll t,Le matutily extend bc~-oud the ult-iiiiate r~aturity o[ LLe unl~ fiie6 - described above. s~K 237 ~A~E ~248 ~s~._~~_ _ _ . ~ - - ~ r . ~_.a~