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Home My WebLink About0092 ~ ANO fhe so~d Mortgoqor hereby coYenonts and agrees w~th the soid Mortgagee as follows: FIRST: Thot the Mortgogor ~s lawiully se~ted of fhe above descr~bed prem~ses ~n fee s~mple and hos good r~ght to sell and con.ey the same ro the Morrgogee; thaf fhe soid premises are free and discharged of and from oll toxes, tox t~tles or certificates, ~udgments, mechanic's I~ens and enc~mbrontes of Cny noture or kind whatsoever ond thot the Morigogor will fully wa?ronf ond defend the same to the Mortgogee, agoinst fhe lowfvl claims and demands of oll persons whomsoever, and will make svch furlher a~suronces to pr.fect fee simple title to soid iand, in the Mortgagee, os may reasonoble be required, and w~ll pay the se~erol svms of money agreed in the sa~d note to be paid and oil instollments of principal ond interest thereon p?omptly when due, and according to the rrve renor and effec~ of the soid note. SECOND: Thot the Mortgagor will pay all ond singular the foxes, assessments, levies, and encumbrontes of every noture on the above destribed property,.and upon this mortgoge ond note, or the money secured thereby, before delinquency thereof and rece~pts ev~dencing payment of said toxes, assessments, levies ond e~c~mb~orxes shall be deposited w~th the Mortgagee on or before Morch lst of eoch succeeding year during the term of this mortgoge; and if same be not promptly poid when due, the Mortgogee moy (without obtigation to do so) poy ~he same, or become purchoser of any lawfu) evidence the?eof, or ce~lificote therefor, without waiv~ng or offecting any right hereunder dnd in this mortgoge, or the said nofe which this mortgoge secures; and such poyments or eapenditures so made shall bear interest from the dote thereof at the rote of~per tentum j~ per annum. Illl'1~ (9$) THIRD: That the Mortgogor will keep all real and personal property now or hereafter er+cumbered by the lien of this mortgage insured as may be required from time to time by She Mo~tgogee against loss by fire, windsform ond other haZards, cas~olties and contingencies for such periods and for not less thon such amounts as moy be required by the Mortgagee and to poy promptly when due all premiums for such insurance. The o+nounTs of such insurance required by the Mortgagee are expressive of only the minimum omounfs for which said insuronte sholl be written ond it shalt be +rxumbent upon the Mortgagor to mointoin sxh add~tionaf ~nsurance as may be necessary to meet ond comply fully with all co-insurarxe requirements contained in soid policies to the end that said Mortgagor is not a co-insuror thereunder. (ns~rance shall be written by a tompany or companees approved by the Morfgagee and all policies and renewals thereof shall be held by the Mortgagee. All detoiled designations by the Mortgogor which ore accepted by the Mortgagee and oll agreements befween Mortgogor and Mortgagee relating fo insurance, ~+ow existing or hereafter made, sholl be in writing ond shall be a pa?t of this mortgoge agreement as fully as fhough set forth verbotim herein and sholf govern both parties hereto ond fheir successors and assigns. No lien upon any of said policies of insurante or upon any refund or return prem~um which moy be poyable or. the cancellation or terminotio~ thereof, shall be given to other than the Mort- gogee, excepl by proper endorsement affiixed to suth policy ond opproved by Mortgagee. Each policy of ins~ronce shall have affixed the?eto o Standard Mortgogee Clause acceptable to the Morfgogee, making oll loss or losses under such policy payoble to the Morfgagee as its interest moy appear. In the evenf any sum or sums of money become payable thereunder the Mortgagee sholl hove the opfion to receive and apply the same on otcount of the indebtedness hereby secured, or to permit fhe Mortgagor to receive and use it, or any port thereof, without fhereby waiving or impoiring any equify, lien ar righf under ond by virtue of lhis mortgage. In event of loss ar physicol damage to the mortgaged property the Morfgogor shal) give immediafe rwt`ce fhereof by moil fo the Mortgagee and the Mortgogee may make proof of loss if fhe same is not made promptly by the Mortgagor. In event of foreclos~re of fhis mortgoge or.other fronsfer of tille to the mortgaged property in exfinguishment of the indebtedness secured hereby, all right, title and interesf of fhe Mortgogor in and to anr insuronce policies then in force sholl pass to the p~rchaser or grantee. Upon ony defaulf thereof, ihe Mortgagee moy (b~t withoul obligotion on its part so to do) place insurorKe on s~th buildings and poy the premium and chorge such sums so paid to the Mortgagor and suth sums of monty so paid sholl bear interesf ` from the dote of poyment ot the rote of]I}~4Cper tentum~~) per annum. . TLlll@ (9$) FOURTH: Thot all sums of money paid or caused to be paid by the Mortgagee under the terms of this mortgoge a~d herein = ! sFecificolly provided for, and ir.ctuding any expenses incurred by the Mortgagee in collection of Ihe sum secured by fhis mortgoge, ; sholl be covered by the lie~ of this mortgage, the same as fhe sums of money represented by the rtote which this mortgage secures. n ~ ; FIFTH: To permit, cammit or sufFer no waste, impairment or deterioration of said property, or ony port thereof, ond upon ~ the foilure of the Mortgagor to keep the buildings on said properfy in good condition of repair, the Mortgagee moy demond the ; immediate repair of said b~ildings, or an intrease in the amount of securify, or the immediote repoyment of the debt hereby 4 secured, and the failure of the Mortgagor to comply with said demand of the Mortgagee for a period of fifteen (15) doys sholl s constitute o breach of this mortgage, and, at the option of the Morfgagee, immediately mature the entire unpaid principal ond ~ interesf hereby secured, and the Mortgagee moy, without notice, institute proceedings to foreclose this mortgage, and apply for ~ the appointment of o receiver,~os hereinofter provided. ~ s SIXTH: Thal the Morfgagor hereby promises, covenonts and ogrees to pay fhe sums of money and interest os mentioned ~ in said promissory note, together with any and all other sums justly due and owing fhe Mortgogee by the terms therein, and sec~red to be poid os stoted therein promptly when d~e. If default shol: be made in the payment of the said sums of money or ony port ~ thereof as provided in the said note or this mortgage, or if the interest thot may become d~e thereo~ or ony part thereof shall be ~ in default and unpoid for o space of fifteen (15) days, or shovld fhe Morfgagor breoch or foil to comply with any other covenant Y ~ or agreement on the part of the Mortgogor to be complied with (in those cases in which the option of the Mortgogee of accelera- ` ~ tion is nof otherw~se expressly provided herein) ond such breoch or non•compliarxe continue +n exis~erxe for o space of fifteen ~ 1 S) ti days, then and from therxeforth, ot fhe option of the+Mortgagee and witheut notice to the Mortgagor, the whole of soid prirxipal sum expressed in said note, together with atl othe~ sums therein os wel) as herein provided for, sholl become immediately due and payable, without notice to the said Mortgagor. ~ SEVENTH: That in case it shovld become netessary to piace fhis mortgage and the rwte secured hereby or eifher of them, in the hands of on ottomey for collection, the said Mortgagor covenants and agrees with the Martgagee to pay oll costs, chorges `i and expenses of such collection, irxluding reasonoble ottomey's fees whether collected br foretlosure or otherwise. : ~ EIGHTH: That, i~ the event ony svit is brovght upon this martgage, whether to foreclose it, ro reform it, or otherwise, and or to enforce poymen! of any cleim hereunder, the Morfgagee may apply to ony court hoving jurisdic~ion the?eof for the appointment of a receiver of said mortgaged properfy, as well as fhe irxome, profits, iss~es dnd-revenues thereof, ond the soid ~ ~ ~ ~ P~ ~ ~ - ~ - g~aK 239 92 ~ - ~ - : _ ~ w ~ ~ y~'3C~i.L..w`a".~ : 3 . i~.~~^