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Home My WebLink About1329 i teader to the'1~lortgeM;ee in ~cordaru•e witli the pro~~isious ot the note ~rcured hereb~, full pa~•u~ent ot the e; entiro indebtedne~s repn~ented therebv~ the Moctgagee, aa trustee, ahnll~ in cou?puting thN sniuw?t of such indebtednesa, credit to t!?e account ot the b'Iortge~or t?ny crecl~t balance remsining under tl~e pru~•uious of (s) ot s~id p »ph 2. It there ahall be a default under sny ot tl~e provisio~~s of this uiortga~e rNaulting in a public sal~ the prem~ses covered I~ereb~ ~ or i( the Mortgagre aequurs tl~e property ott~erK~se afte~ default, the Mortgagee, as truatee~ ahell epply~ st the time ot the ca~unencement o( such proceedings or e~ tl?e time the property ia otherwise ucyuired, the amount thea reu~aining to credit of Mortgagor under (s) of paragr~pL 2 ? preceding aa a credit on the intereat accrued and unpaid and tlie balonce to tlie principal ti~en rrnisining unpaid on said note. . 4. Hs wIll p?y a11 taxee, aeseesments, wstet rates. ~?nd ot6er~o vernmental os municiPv ~6~. ~ ` impoeiuons, for which provision has not been made bereinbefore~ aad ia deiault thereot t6e Mortga8~ ~Y P~3? ~ ; aaoe; and L6at bs will promptly deliver the o~cial rooeipts tDeretar to tbe Mortg,agee. b. He ~vill permit~ oommit, or sufier no waate. impsirment~ or deterioration of aaid ProP~Y or any pae~ thereof ~ e~ccept reaeonable wear snd tesr• snd in the avent of t6e te?ilure of the Mortg,agor to keep the buildiap oa eai~ ~ premiees and thoee to be erecte~ on eaid premisea or innprovemen~s thereon, in good repair the Mortgagee may ~ malce such npairs aa in ite diecretion it msy dcem neceaeaey tor tbe proper prescrvstion thereo~, and the full s~pount e ot each and ev~ery euch psyment ehali be dne and p~yable thirty (30) dsys Jter demaad, aad s6s11 be eecured by ~ We Uen of this mortgege. ~ i 6. He w'~t psy all and angul~?r tha coete, and e:penees, includin~ reasonsbk Iswyer's fees, and oosts ~ of sbstracts of title, incarred or psid at eny time by Mortg~ee becauee of the fa?ilure on t6e part of the Mortgagor ~ promptly snd tully to pertorm the a~reementa and oovenante of eaid promieeory note and this morigage, snd ssid ~ oosts, c6argea, snd expenses ahaU be immediately due and payable snd ahall be eecured by t6e lien of this mortgage. # 7. He will oontinuoualy msintsin huard im~urance, oi auch Lype or types snd smounte as Mortgagee msy ~ trom time Lo time require, on the impravemente now or hereaiter on said premisea and a~cept when payment ~ tor all such premiums has theretofore been made under (s) of p~ragrsph 2 hareof '6e will pay prompt1y when ' due any premiums thcrefor. All insurance ahall be ca~ried in comFsnies apprave~ by :1lartgagee and the poli- cies and renewt?ls thereof shsll be held by Mortgagee and hsve ettached thereto loss paysbte ctauses in ievor ot and in form acceptablo to the Mort$agee. In event of loss he will give immediste notice by mail to Mortgagee~ and Mortgagee may make proof o3 Iosa ii not made pmmptly by Mortgagor, and each insuranoe oompaay ooncemed is 6ereby~authorized and directed to make payment for euch losa directly to Mortgage~e inetead of to Mortgagor and Mortgagee jointly, and the insuranoe proceeds, or any part thereof, msy be applied by Morw gsgee at its option eil,her to the reductaon oi the indebtedneea hereby eecured or to the restorat~on or repsir of the pmperty dama~ed. In event ~i foreclosure oi this mortgage br other transfer of title to the mortgaged ~ property in euUngu~shment of the indebtednese secured hereby, a~l right, title, and interes~ of the Mortgagor • ~ ia and to any inaurance policies then in force ahall psss to the purchaser or grantee. 8. If tl?e pren~is~~s, or un~- purt tl~ernof, bc~ c~ondemned under tlie power oi eminent_ dmna~i~~ or acquirecl for a public use, the de?ma~~~ awarded. Uu• pmre~~cis for the taking ot, or thi• ~onsicieration [or such acqu~sition, to i the ertent of tl~e full au~ount of the ren?aininK w?pai~l iiidebt~dness sec•urect b~• ihis ~uortga~e, arn lier~b~• assi~;ne~l to the `1~rt~aKee. uu~l his hei~ or as.~i~us, un~l shull I?e puid forthK ith to saicl ~tort~age~ or his assignee to lx~ applied on ac•~•ount o( th~ lust n~atur~uK iustalLneots of su~~li ind~bt~dnc~ss; pro~id~d, }~o~~•e~•er, the ~lortguKec ur l~is nssignec, ~ua~ at his discr~•tion pa~• dir~ti•t to the Vlortgagor, 1?is liein or assigus an~~ part or all of sucl~ aH•arct; provi~led, that if the loan is Kunrante~t or insured, thc cunsent of the guurantur or insurer is obtainecl in advance o[ said pa~•n~ent. 9• The Mortgagee may, at any time pending a suit upon t6is mortgage, apply to the court hsving juri~diction thereof for the appoiatment of a receiver, and such court sball fort6witb appoint s receiver of t6e premiaes oovered hereby all srid singular, including all and singutar t6e income, profits, issuea, and revenuea from whatever source derived, each and every of which~ it being expressly understood. ia hereby mortgaged sa if specifically eet forth and _ deecribed in the grsnting and habendum clausea hereof. Such appointment ahall be made by auch oourt ae an admitted equity and a matter of absolute right to eaid Mortgagee~ end ~vithout reference to tlie adequacy or inadequacy of t6e value ot the ptoperty mortgaged or to the solvency or in~olvency of said Mortgagor or the defendaats. Such renta, profits. income, issuea, and revenues ahail be appGed by suc6 receiver acoording to the lien of thia mortgage and the practioe of such oourt. In the event of any default on the parL of the Mortgagor hereunder, the Mortgagor m~grees to pay to the Mortgagee on demand r.~ s*~±-~?nable mont~ly rental for the premises an smount at lesat equivalent to one-twelfth (~z) af the aggreg,ate of the t~relve monthly installmenta psyable in the then current ~ yesr plue the actual amount of the annual taxes, aasessnnente, water ratea, and insurance premiums for such yeat = not oovered by the atoresaid monthly psymente. ~ 10. In the event of any b*each of this mortgage or defsult on the part of the Mortgagorr or in the event thst ~ sny of said amns of money herein referred to be not promptly and fully paid sccording to the tenor hereof~ or in the event t6at each and every the stipulationa~ agreements~ conditions~ and covenanta of said note and t6is mortgage, ~ are not duly,'promptly, snd fuliy performed; then in eit6er or any such event~ the said sggregate sum mentioned ~ ia said note then remaining unpaid, with interest accrued to that time~ and all moneys ~ecured hereby, ahall become ~ due and peyable forthwith, or thereafter~ at the option of said Mortgagee, sa fully and completely ,~s if all of the esid aums oi money were origtnslly stipulated to be paid on such day, s,nyLhing in said note or in this Anortgage to t6e contrary notwithatanding; and thereupon or thereafter, at the option of said Mortgagee~ without notice ~r ~ demand~ suit st taw ot -s equitp, may be prosecuted ea if all moneys secured hereby 6ad mstured prior to ita inatitu- ~ tion. The Mortgagee may foreclose this mortgage, as to the amount eo declared due and payable~ and the said premises shall be eold to satisiy and pay the same together with coste, expenses, and aliowances. In case of partial ~ for~closure of this mortgage, the mortgaged premises shall be sold subject to tbe continuing 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 ~ availed of thereafter from time to time by the Mortgagee. 11. No waiver of sny oovenant herein or of the obligation eecured hereby siiall st any time thereafter be held ~ to be s waiver of the terme hereot or of the note aecured hereby. ~ 12. The lien of thia instrument at?all remain in full force and egect during any poetponement or extension of ~ the time of psyment of the indebte~neee or sny part thereof eecured hereby. ~ 13. If the Mortgagor default in any of tbe covenants or agreementa contained herein, or in said note, then t6e " Mortgagee msy periorm th~ same, t?nd all eapenditw~ea (including nasonable attorney's fees) made by the MortgaRee ~ in so doing shall draw interest at the rate provided for in the principal indebtednesa, and shsll be rnpaSable ; thirty (30) days atter demsnd~ and~ together with interest~ and costs accrued thereon, shnll be secured by RY thi~ mortgage. ~ 14. Upon the request oi the ylortga~;ee the Mortgagor ahall execute and deliver a supplemental note or ~ aotes tor the sum or sums advanced by t6e titortgagee for the alteration~ moderniaetion, improvement, main- ~ tenance, or repair of ssid premises, for taxes or as.aessments against the same and for any other purpose author- r ized hereunder. Said aote or notes shall be secured hereby on a parity with and as fully as if the advance ~ evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear „ interest at t6e rste provided tor in the principal indebtedness and s6a11 be payable in sp pmximately equai " mont6ly poy ments tor such period as may be agreed upon by the creclitor and debtor. Failing to agree on the ~ maturity~ the wbole of the sum or sums so advanced shall be due and payable thirty (30) days atter demand . by t6e creditor. In no event s6all the msturity extend beyond t6e ultimate ~atwity o! the note firat - deacribed above. ~ ° R PAGE1327 ~ BOOK ~+ch~ , : - - - - - - - - ~ ~ ; - n e.~a.~.~..:~~...,~.. _