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Home My WebLink About0154 tender lo the 2~lortgu~;er in aceurdun~•r wiUt tl~~ provisious of tl?e notc~ srcurr~i iier~•bv, full pa~•n~ent ut the entire indebtedneaa ~epresrnted thereb~~, the l~tortgugee, as Irustee, sl~ell, in rc,n~putiiig thN auiount ot surh indebtrdnesa, credit to tl?e acrount ot tlir ~lortgeKor nny credit bala~~ce rniuainiu~; uud~~r t!?c pru~•i~ians of (n) of asiJ paragraph 2. It there sliaq b~+ a defeult unde~ any ot the provisions ot tLia inortga~e rnsultin~ in a public a~le of the premises covercd hrreb~•, or if ~t ~i e 111ortgagee a~•quues Uie pro~Crt~• otl,erN•~se after de[ault, the Mortgagee, aa truatee~ s}~all apply, s~ the tune o~ the co~amence~nent ot sucl~ proeeedings or at tl~~ t,imP the propert~ is otherwise iuyuired, the au~ou~t then rewainiag to ~•redit o~ ;14or1gagor un~ler (s) at para~;raplj 2 ~ preceding as a credit on the interest accrued and unpaid and the balance to tiie princ~pal then remain~nR unpa~d i on said note. 4. He ~rill psy alt taxes~ aeeeesmenta, wster tate~ and ot6er governmental or municipal charges, fiaes. or ' impoeitione, for which provieioa haa not beon made hereinbefore, and in default thereoi the Mortgagee msy p~y the ` eame; und Lhat he ~?ill promptly deliver the o~cial reoeipte thecefor to the Mortgagee. ~ b. He will permit~ oommi~, or suQer no ~raate, impsirment~ or deteriorauon of esid property or any psrt thereof. e~ccept reaeonable wear and tear; and in the event of the iailure of tbe Mortgagoc to keep the building~ on said premisee and thaee to be erected on esid premieea, or improvementa tbereon, in good repair the Mortgagee msy mske such repairs aa in its diacretion it may deem neceeesry for the proper preecnation thereo~, as3 the tult amount ; of each and every euch psymen~ s6all be due and payabk thirty (30) days after demand, and shsll be secuted by~ the liea of thie mortgage. 6. He will pay all aad eingular the coeta, charg~, and e:peneea~ including reasonable lawyer's feee, aad ooeta oi abetracta of title~ incurred or paid at any time by the !4lortgagee becsuee of the failure on the part of the Mortgagor promptly and fully to pedorm tbe agreements and covenanta of eaid promiseory~ote and thia mortgage~ and said coeta, charges, and expensEa ahall be immeciiately due and payable and shall be eecured by tbe lien of this mortgage. 7. He will oontinuousl,y maintsin hazard insurance, oi such type or types snd amounte ss Mortgagee may i trom time to time cequire, on the improvemente now or hereaiter on said premises, and eacept when payment for all such premiums has theretofore been made under (a oi paragraph 2 hereof~ he will pay pm~p tly when due eay premiums thcrefor. All insurance shsll be carri~ in companies approved by I1lortgagee and the poli- cies and renewals thereof shall be held by Mortgagee and have attached thereto losa payable clauses in tavor oi and in form acceptable to che Mortgagee. In event of loss he will give immeciiste notice by mail to Mortgagee~ snd Mortgagee may make prooi o~ Ioss if not raade pmmptly by Mortgagor~ and each insurance aompany concerned is hereby authorized and directed to make payment for such loss directly to MortgaRee inatead oi to Mortgagor and Morigagee jointly, and the insurance proceads, or any part thereof, may be appZied by Mor~ gsgee at its option either to tbe reduction oi the indebtedneea hereby secured or to the restorataon or rapair of the property damaped. In eveat oi forecloaure oi this mortgage or other transfec of title to the mortg,aged property in extinguishment of the indebtednesa eecured hereby~ af 1 nght, title~ snd interest of the Mortgagor m and to any insurunce policiea then in torce shall pnsa to the purchaser or granLee. R. If the pre~uis~•,, or un~- part th~•ri~uf, tx~ rond~~mn~•~I under th~ pow~r of enii~ient dotuum, or acquir~~d for a public ust•, the dama~i~s nw•anled, th~• pro~•e~~•~ls for the tukiuK of, or the~ ~onsi~lerutiou tor suc•h acqu~sitina~, to~ the ertent of the full fl111AU111 of iLe rt•ruaininK unpuid iud~l?t~~tn~•ss s~~•ured b~• this u~ortKak~, are h~~reb~- ussi~ne~l to ih~~ ~tortKnKi~e, uu~l hi~~ h~•in c?r ussi~us, un~l sl~~ll bc~ puid furtli~citl~ to said ~tortku~,•~~~• or liis xa~iKnee to 1x• applit•~I on a~•~~ount u! th~ last inaturi~~r installii~c•nts of su~•L in~1~Lt~•dneu: pro~•idc•~1. ho«•~•~•er, .Lr ~iur~r a~?c~• ur his :tssiKn~~~•, ~uu~• nt his di..~•rntion pu~• ~lir~~~•t to th~ `1ort~;u~;or, his h~•in or i?ssi~ns u~?r ~,~~rt or all of such a~sard; pro~id~•~1, that if the lotui is ~;uarunti•~~~1 or insw~~d, the c•onsrnt of th~~ guurantc?r or ii~surcr is obtxined ~n advance of ,nid pu~•inc~nt. The Mortgagee may~ at any time pending a suit upon this mortgage, apply to the oourt having juriadiction thereof for the appointment of a receiver, and such court s6aU forthwith appoint a receiver of the premisea covered hereby all arid siagular, including all and singular the income, profits; iasues, and revenues from whatever source derived, each and every of which~ it being expressly understood~ is hereby mortgaged se if apeci6cally set forth and described in the granting and habendum clauses hereof. S~ch appointment shall be made by such court as an admitted equity snd a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or the defendants. Such r~nta, pmfits, income, issuee, and revenues shall be appGed by such rnceiver according to the lien of this mortgage s and the practice of such oourt. In the event of any default on the part of t6e Mortgagor hereunder, the Mortgagor ' agrees to pay ta the Mortgagee on demand as a reasonable monthiy rental for the premises an amount at least , equivalent to_on~twelith (~z) of the aggregate of the twelve monthly installmenta payable in t6e then current ; ; year plus the sctual amount of the snnual taxes, assessments, water rates, and insurance premiums for such year ~ s not oovered by the sJoresaid monthly psymente. ' ~ ~ 10. In the event of any b~+each of this mortgage or default on the part of the Mortgagor; or in the evcmt that any of said auma of money herein referred to be not promptly and full~c paidaccording to the tenor hereof, or in the ; event that each and every the stipulations~ agreements~ conditions, and covenants of said note and this mortgage, j are not duly, promptly~ and fully performed; then in either or any such event, the said aggregate aum mentioned ; ~ in eaid note then remaining unpaid, with interest acerued to that time~ and all moneya secured hereby. shall become ~ ~ due and psyable forthwith, or thereafter, at the option of said Mortgagee, as fully and completely ~s if all of the eaid aums of money were ori~inally atipulated to be paid on such day, any t,hing in said note or in this mortgage to m the contrary notwithatsndiag; and t6ereupon or thereafter, at the option of said Mortgagee~ without notice or ~ demand~ suit at law ot equity, may be prosecuted as if all moneys secured hereby had matu~ed prior to its institu- k tion. The Mortgagee msy foreclose this mortqage, as to the amount so deciared due and payable, and the said ~ premises ahall be sold to satisfy and pay the same together with coats~ expenses~ and allowances. In case of partial ~ foreclosure of thia mortgage, the mortgaged pmmises shall be sold subject to Lhe oontinuing lien of this mortgage ~ for the amount of the debt not then due and unpaid. In such caee the provisions of this paragraph may again be ; svailed of thereafter irom time to time by the Mortgagee. ; i l. No waiver of any covenant 6erein or of the obligation secured hereby shsll at any time thereatter be held ~ to be a waiv~r of the terms hereof or of the note aecured hereby. ~ ' 12. The lien of this int~trument shall remain in full force snd efiect during any postponement or extension of ~ the time of psyment of the indebtedness or any part thereof aecureci hereby. f I:i. If t6e Mortgagor default in any of the covenants or agreementa contained herein, or in said note, then the Mortgagee may pedorm the same~ and all eapenditures (including ressonable attorney'e fees) made by the MortgaRee - ' in so doing shall draw interest at the tate pro~•idcd for in the principnl indebtedn~ss, and shall be rnpa~~able ; thirty (30) days after demand~ and, together with interest and costs accrued thereon, sliall be secured by < this mortgage. a 14. Upon the request of the ~iortgagee the ~iortgagor shall eaecute and deliver a supplemental note or ~ notes for the sum or sums advanced by t6e titortgagee tor the slteration, modernization, improvement, main- x tenance, or repair of said premises, for ta~es or as.~essments a~;ainst the samc and for an~ other purpose suthor- ized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as if the sd~•ance evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear ~ interest at the rste provided tor in the principal indebtedness and shal) be pavable in a~proximately equal ~ monthly payments for such period as may be a~reed upon by the credilor and debtor. Failing to agree on the ~ maturity, the whole oE the sum or sums so ad~anced shaU be duc and pa~~able thirty (30) days after dcmand ~ by the creditor. In no event s6a11 6he maturity extend beyond the ultimate rsaturity oE the note first ~ described above. goox ~J~ FACE r ~ ~ ~ _ _ _w~ . . _ ; _ _ _