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Home My WebLink About0968 tender to the Mortgagee in stxordance with the provisione o[ tl~e t~ote secw~ed lterebr, !uIl pe?~nient of the enti~e indebtedneaa repreaenLed thereb~•~ the Mortg~gee~ as t•rustee, she?11~ ia compuling tl~e s~uount oI aucli indebtedneee~ credit to the account ot t~ie Mortgegor any credil balsnoe rnmaining undcr tl«? provisions ot (a) of said p raph 2. I~ there a}?all be • default uader sny ot tlie provisiona ot thia ~nortga~e resultii?g iii a public eal~ tlie premises covered hereby, or if the Mortgagee ucquires the propert~ otherwise after default, the Mortgagee~ aa trustee, ahaU spply, st the time of the canunencement oi such proceedings or at tlie timp the propert~ ie otherwise acquired, the amoun~, then ~emainiug to credit o~ Morigagor under (a) o[ paragrapl~_2 preceding as a credit on tlie iaterest accrued and unpt+id snd the bnlance to tlie ptiacipal4~ien rniuaiuing unpaid on asid note. ~ 4. Ha wiU puy a1l tmxee, ~eeeeementa, wstsr rstes, end otLer go~e:nmental or mun~cipal eharges, finee, or impositions, for w+hich proviaion Laa no! beea ma~de hereinbefore~ aad ia defsult thereaf the Mortgagee mqy pay the a~rne; and tbut Le will promptly de~iver the oflici~l receipte tbereior to the Mortgagee. He will permit~ oommit, or eu6er no waate, impairment, or deterioraWon of said property a~ any pe~rt thereof e~ccept reaeone?ble w?eAr i?nd tesr• snd ia the eveat of the failure of the Mort~gor to keep tbe buildiags on eaic~ pcemieee and thase to be erectec~ aa ~d pa~oaia~s, or impruvemeaLe Lhenon, ,n gvod mpair the Mortgegee may mslce auch repsirs as ia ite diecreLi~ it msy deem neoeeeary fa~ tbe proper preeervstioa thereo~ ~nd the full smounti oi each and every ~uch psyment s6all be d~e and pqy~ble ~3r~? (30) dqYa ai6er demxud, an'd 8hs11 be secured by tbe lien ot thie mortgsge. 6. He ~vill pay all an~ sin~ulse tbe ooste, e1h~~and e~cpe,oees, inaludin~ reaeonsble Ia~vyet's ieee, snd ooete of sbetracta of title, incurred or psid ~t any time by orfgagee bemuee of the failure on the pert of the Mortgagor P~Ptly and iu1~? to perform the a~reennenta snd oovenanta of eaid promiseory not,~ end this m t~e, and said ~oete, chsrgee, and eapenees shatt be immediat~ due and paysble and ahall be socured by the lien o~l' thia morcgage. 7. He rviIl oontinuoua~j m~intain Lazsrd iffinraace, oi such type or t~pes and unonnts sa :Viortgagee msy irom time to time require, on the improvemeata now or hereaiter on said premises and eacept when paymenL tor all such premiums has~theretofore beea made under (a) of p~ragra~h ~ hereof ~e ~vill psy pmmptly when due any premiuws therefor. All insumncs ehall be carried in oomPan~ee sPProve~ by 14iort~a~ee and tLe poli cies and ren~wals Wereof shall be beld by Mortgsges and hava ~ttached tLereto lose psyable crausee in isvor of vill and in form acoeptable to the Mo In event of loes he ~vill give immediste notios by mail to Mortgagee and Mortgagee may make.praof of~ if not made promptly by Mortgagor~ and each msuranoe oompany oonoernod ia Lereb authonred and directed to make p~yment tor such loes duec to Mo~a~ ~nstead of io I~lortgsgor and ~ortgage~ joint~y, and the insuraaoe prooeeds, or any put ther~ msy be app7iod bp Mort- ~sgee ati ita option either to tbe reduction oi the indebtednees hereby secured or to the restoration or repsir of the pmperty dama~ed. In eveat of foreclosure of t,hia mo~, or othe~r 4~anafer of title to~ the mortgaged property ia eztingu~mant oi tLe indebtednees eecnred Lereby; ~11 right, title~ and intereet of the Mortgagor m~nd b aqy insurance policies then ia foroo dull p~sss t~O t~e pum~aeer or gcant~ee. - 8. J[ the preiniBes~ or snr psrt thereoi, be c~ondenmed under the power ot enunent doniain or ac~uurd fir a public ~e, tlie dau?sges arvi~rded, tlie praoeeda for the~~ of or the consideration for suc•~i acqur~~t~ion, to the extent ot the tull ~unount of thp renu?ining unpaid indebtednees secwred b~ this niortgs~r, arn l~enb~ assi~,med to U?e Mortgagee, snd his heirs or assigns, and shall be paid torihwith to said Mortga~c?~ or lus ass nee to be applied on ~ccount of the last matunng installmenta oi suc-~ indebti?dness; provideci, lio~er~r, the~ort.gagee or h~s assi~nee, ~nay at his discretion pa~ direct to the Mortgagor, l~ )ieus or assigns en~ parf, or all ot aucl~ sw~aril; pro~-~ded, that ~f the loan is Euar~nteed or insured, the conaenl of the gunrantor or insunr is obtained in sdrance of eaid ps~~uenk 9. The Mortgagee may, st any time pendin~ s snit npon thie mortgage, sppIy to tbe eonrt hsving juriediction tbereof for the sppointment of s receiver, and euch eourt aha~l. forthwith sppoint a reoeiver of the premises oovered hereby sll arid aingular, including ~11 and aingular the inoome profita, issues, and revenues from whatever eourve derived, each and every of which, it being racpteesly understoc?d, ia Lereby mortgaged aa if s~ecifically ~et forth and deecribed ia the ~ranting and habendum clauees hereof. Such sppointment ahall be made by such court as an admitted equity and s matter of absolute right to esid Mortg~ee, snd ~vithout reference to the adequacy or inadequacy ot the value of the property mortgaged or to the eolvency or ineolvency of said Mortgagor or the defendanta. Such rents, pmSta, inoome, issuea, and revenues ahall be spplied by auch receiver sooording to the lien of this mortgage i and the practice of auch court. In the event of any default on the part of the Mort$agor hereunder, t6e Mortgagor ~ agrces to pay to t6e Mo on demand ua s r~aeonable monthly rental for the premises an amount at leaat ~ equivalent to one-twelfth~of the aggregate of the tw+elve monthly inatallmenta payeble in the then current ~ year plus tt,e sctual amount of the annuel taxes, aseeesments, tvater ratee, and insurance premiums for euch year ~ not oovered by the sforeeaid monthly peymenta. ~ l0. In the event of any breach of this mortgage or default on the part of tbe 1liortgagor,_or in the event that snq of said eums of money her~in referred to be not promptly aud fully paid according to the tenor hereof, or in the ~ event that each and every t6e etipulations, agreemente, oonditione, and covenant8 of eaid note and this mortgage, ~ sre not duly. promptly, and fully per(ormed; then in either or any such event, the eaid aggmgate aum mentioned in said note then remaining unpeid, ~7th interest accrued to Lhat time, and all moneys secured hereby, shall become ~ due and payable forthwith, or thereafter, at the option of Baid biortgagee, as fully and completelS as if all of the said sume of money were originally atipulated to be paid on such day, anyLhing in eaid note ort in this mortgage to the oontrary notwithstanding; and thereupon or thernafter, ~?t the option of eaid IVlorig~ee, aithout notice or demand, euit at law or in equity~ may be proeccuted as if all moneya eec~red hereby had mutured prior to its instita- tion. The Mortgagee may forecloee this mortgage~ as to the a.mount so declared due and payable, and the said premiaes shall be sold to satisfy and pay the same together with costs, expenses, and allowances. In case of partial foreclosure ot this mortgage, t6e mortgaged pmmises ehall be eold subject to the oontinuing lien of this mort6ry~e ~ for the amount of the debt not then due snd unpsid. In euch eaee the pmvisions of thie paragraph may again be ~ svailed of thereaiter lrom time to time by the 1liortgagee. ~ 11. No ~vsiver of any oovenant herein or of the obligation eecured hereby ahall at aay time thereafter be held ~ ~ !o be s waiver of the terma hereof ot of t6e note eecured hereby. ~ l2. The lien of this inatrument shall remain in full foroe und eSect during sny poetponement or exteneioa of ~e time of psyment of the indebtednees or sny psrt thereoi eecured hereby. ; ~ 13. If the Mortgagor default in any of the oovenants or sgreemente oontained herein, or in eaid note, thcn tbs - ~ D~fortgagee msy perform the same, and all eapenditures (including reasosable attorney's feee) made by the Mort~aRee - ~ in so doing ahall draw interest at the rate provided for in the principul indebtedness, and ahall be repayable _ thirt~ (30) da~a after demsnd, snd, toge~her with interost and costs aocrued tLereon, sLall be aecur«i by thie mortga~o. ~ 14. Upon the requeet of the Mortga~ee the Mortgagor shall eacecute and deliver s supplemental Hate ~r ~ uotcs for t}~e sum or sums ad~ anced by l.tie l~iortgagee for the alteration, modcrnization, impro~ cment, main- ~4 ' ~ tenance, or rnpair of aaid premises, for taxes or a~essm~nts against the same and for any other puri~ose author- ised hereunder. Said not,e or notes shall be sc~cured hereby on a parity with and ss fully as it the ad. ~.nce i s:~ evidenced thereby were included in t1~e note first described above. Said supplemental note or notes shall bear - interc~t at the rate pmvided for in the principal indebtedness and shall be pa~•able in ap pro~imatcl~ eqeal _ monthly pa ~ ments for such period ~s may be agrced upon by the creditor and ~lebtor. Fsilin~ to e.~rec on the ' m. turity, tf~e K-itiole o[ t}?e sum or sums so ad~•anced shall Uc di~e stnd pa~•able thirt~~ (30) da}•s s(t~r dcn,en~t by the creditor. In no eveat shslt tl?e maturity extend bc3•ond tLe ultiu~cte rsr~turity of lLe n~le fira6 deccribed ~twve. n ~ BoaK 2~~ ~.~cE ~7~7 - _ _ _ _ - < ~ ~~:r ~ ° , ' ~ ~~~r x~ ~a z _ _ . _ ,°~'~Ca~f..._ _