The URL can be used to link to this page

Home My WebLink About1913 tendet lo lhe 2dottKu~;~•e in accurJan~•r w•itl? the provisiuus of tl~e uut~~ rucure~l liereb~•, (ull pa~•inrnt o! the entire indebteduess repr~~srn~rd thereb~~, the ~1ort~agee, a.q trus~~~e, ,i~ull, in cc?n~puting th~~ a~uuunt of sucli i~debtednrss, credit to tl?e accounl of tLe ~'Iortg~Kor un~• rredit balauce rnmaiuink w?der th~• pnn~isians at (a) ot said psragraph 2. If therN si~all t,e a de(ault under an~ of tl~e pro~•isious af this ~iiorlga~~ r~~aultiu~; in a public sale ot t}ie preiui~es covereJ I~rreb~•, or it tl?e hlortgag~e acquires the propert~• otherw•~se u(~er defsult, the Mortgegee, aa truatre, aliall apply, at Ll~e tune of tl?e caiunencement of such proc~edings ur at thc+ tin.r the property ia oth~rwise aei~uired, tiie an?ount then rN~~~eining ~o creclil of :~lortgagor u~~dc~r (a) of parugrapl~ 2 preceding se a crNdit or? the interest accrued and unpaicl a~d tl~e balan~•e to U~e principal tl~en rnn„~in~u~ unpwid on said nole. 4. Ha ~viU psy all ta~cee~ aeeee~ents, wster rat~es. and other governmental or municip~al charges, finee. oi impoeitione, for wLich provision hsa not been made hereinbefore~ and in default thereof t6a Mortgagee may pay ths eame; wd ths~ he will promptly deliver the o8'icial n~oeipte therefor to the Mortgagee. b. Ha will permit~ oommit, or au6er no paate, impsirment~ or deterioration of eatd property or sny part thereof eucept reaeonable wear and tear; and in the event of the failure oi tde Mortgagor to keep t6e buildinga on eai~ premisee and thaee to be erected on said premisee~ or impmvemente thereon~ in good repair, Lt?e Mortgagee msy make such repairx sa in ite discretion it msy deem neceesary for the proper preecrvation thereof, and the ful! amounL of each and every such paymeat ahall be due and psyable thir6y (30) daye aiter demand, and ahmll be eecured by t,he lien of t6is mortgage. . 6. He ~vill psy all and singutw~ the-ooete, chargee, and e:penees, including reaaonable lsaryer'a feee, sad ooeta of abetracts of title, incurred or paid at any time by the Mortgagee becauee of the (ailure on the part of the Mortgagor prompWy and fully to perform the agreements and covenante of eaid promieeory note and thia mortgage~ snd said oosta, chargea, and expen~ea ahall be immediately due and payable and shall be eecured by the lien of this mortgage. 7. He will oontinuously maintain hazard insurance, of auch type or types snd amounts sa Mortgagee may trom time Lo time require, on the improvementa now or hereatter on said premises and except when payment for all such premiums has ~heretofore been made under (a) of paragraph 2 hereof ~e will pay promptly when due any premiums therefor. All insurance shall be carried in companies approvec~ by 1?iortgagee and the poli- cies and renewals theroof shall be held by Mortgagee and hsve attached thereto loss payable clauses in fevor of and in form acceptablo to the Mortgagee. In event of loss he wil! give immediate qotice by mail to Mortgagee, and ~Sortgagee may make prooi of Ioss if not raade promptly by ~iortgagor, and each insurance oompany concerned is hereby~authorized and d'uected to make payment for such loss directly to Mortga~e~e inatead of to Mortgagor and Mortgagee jointly, and the insurance proceeds; or any part thereof, msy be applied by Mor~ gagee at ita option either to tbe rEduction oi the indebtedne,sa hereby $ecured or to tLe restorataon or repair of the property dams~ed. In event of forecloaure of this mortgage or other transfer of tiWe to the mortgaged property in extinguishment oi the indebtednesa eecured hereby, afi nght, title, and interest of the 114ortgagor m and to any msurance policies then in force shall pxsa to the purchaser or grant~ee. R. If tl?e pr~~inis~~c, or uu~- puct Uiere~~~f, Ix~ ro~~dc~~i~u~~~l muler the power of eu~in~nt doiuuui, or ~t~•quirnd for a public usc, tlu~ du~naK~~s :~Narded, th~• pro~•~~~~~1. for the tuking o!, or th~~ ~on,iderutic,n for surh acquu~tion, to the extent ot thc full amom~t of Uu• r~•n~sinink unps~i~l ind~btr~lnc:tis s~~~•ured h~• this ~nort~arr, an• hercL~• ussi~;ned to tlu~ ~tort~aK~•c, un~l his h~~i~s or :?.~igns, an~i .h:~ll b~~ piiid fortli~vith to suid ~1ortKu~?~~~ or !?i. auiKnec~ to bc~ applied on u~•~•ouut of th~~ I~~st iuutur~nr insti+lluu~nts of sw•h ind~•1?t~~~lu~•cs: pro~•i~le~l, ho~c~•~•er, thc `IortKv~ce or his :~:;i~;n~~i•, iuu~- ut liis di:i•r~•tio~~ pu~- ~lim~•t to th~~ ~Iortra~;ur, I?~~ h~~ir, ~?r us:.irn• un~• part or all of sus•h a~~-ar~l: pro~•ul~•~I, thut if th~~ lutui is ~;u:?ri?nt~~~~~1 or insumd, thr ~•ons~•nt of tlie ~uura~~tor or insur~•r is ohtained in ~dcance of said pu~•n~c•nt. ~ 'J- The Niortgagee may, at any time pending a suit upon this mortgage~ apply to the court having jurisdiction thereof for the appo"ratment of a receiver~ and such court shail fort6with appoint a receiver of the premises oovered hereby all arid singular, including all and singular the income. profita~ issuea, and revenues from whatever source derived~ each and every of which, it being expressly underatood~ ia hereby mortgaged sa if apecifically set forth and deacribed in the granting and habendum clauses hereof. Such appointment shall be made by such oourt ag an admitted equity and a matter of absolute right to eaid l~tortgagee, 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 t!~e defendants. Such renta, pro6ts. income~ issues~ and revenues ahall be apptied by such receiver according to the lien of thia mortgage snd the practice of euch court. In the event of any default on the part of the Mortgagor hereunder~ the Mortgagor sgrees to pay to the Mortgagee on demand ss a reasonable monthly rental for t6e premises an amount at least ' equivalent to one-twelfth (~z) of the aggregate of the twelve monthly installments payable in the then current ~ year plus the actusl amount of the annual taxes, assessments, water rates, and insurance premiums for auch year not covered by the aforesaid montlily payments. ~ t0. In the event of any b*each of this mortgage or default on the part of the Mortgagorf or in the event that ' any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof~ or in the ~ event that each and every the atipulations, agreements, conditions, and covenanta ot said note and this mortgage~ ~ 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, with interest accrued to that time, and all moneys secured hereby, ahall beoome E due and payable forthwith~ or Lheresfter, at the option of said blortgagee~ as fully and completely as if all of t~e ~ said sams of money were originally stipulated to be paid on such day, anything in said note or in this mortgage to ~ the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby 6ad matured prior to ita institu- ~ tion. The Mortgagee may foreclose this mortgage, as to the amount eo declared due and payable, and the said s premiaes shall be sold to satisfy and pay the same together with costa, expenses, and allowances. In case of partial ~ foreclosure of this mortgage, the mortgaged premises ahall be sold subject ta the continuing lien of this mortgage £ for the amount of t6e debt not then due and unpsid. In suc6 csse the provisions of this paragraph may again be ~ svailed of thereafter from time to time by the blortgagee. ~ 11. No waiver of any oovenant herein or of the obligation aecured hereby ahaq at sny time thereafter be held ~ to be a waiver of the terma hereof or of the note eecured hereby. ~ 12_" The lien of thia instrument ahall remain in full force and ePfect during any postponement or extension of 4 the time of payment of the indebtedness or any part thereof eecured hereby. 1:i. If the Mortgagor default in any of ~he covenanta or agreements contained herein, or in said note, then the Mortgagee may perform the same; and all expenditures (including reasonable attorney's fees) made by the Mortga~ee ~ in so doing shall draw interest at the rate provided for in the principal indebtednc~ss, and shall be rnpa~able ~ thirty (30) days after demand, end, together with interest and costs acerued thereon, shall be secured by r thia mortgage. ~ 14. Upon the request of the l~iortgagee the ~iortgagor shall execute and deliver a supplemental note or ; notes tor the sum or sums advanced Dy the ~tortgagee for the alteration, modernization, improvemcnt, main- ~ tenance, or repair of said premises, for taxes or a~~essment,s against the same and for any other purpose author- ~ ized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as i[ the ad~ance ~ evidenced thereby were included in the note first described above. Said siipplementsl note or notes shall bear ~ interest at the rate provided for in the principal indebteclness and shall be pavable in a~proximately equal ~ monthly payments ior such period as may be a~reed upon by the creditor and debtor. Failing to agrec on the ~ maturity, the whoie oi the sum or sums so ad~anced shnll be due and pa~•able thirty (30) days after demand ~ by t6e creditor. In no event shall the maturity extend beyoad ~he ultimate r~aturity of the note fi~st ~ described sbove. i ~ ~ BCOK ~.J~ PAGE 1 4 ~ ~ k _ ' ~ ~ ° ~ . . ~ f'"~' ~ „ : ~ ' ~ si r'~"^.T ~ '3 f+ I . 'u"` ~ +b . ~ ~u~a~.~;`:1'? .:s~ ..,,~d~~w' ' ~.~_~..~.-,.''"'v.t.._^~r~~