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Home My WebLink About0288 ~eader ~o the 2+lortgngee i~ acconl~~ue witl~ the provieio~~s of the uot~ secured liereby, tull pa~•u~en~ ot the entire indebtednesa repr~xenled therebv~ the Mortgagee~ aa trustee, ahaU, in computing the aiuount ot such indebLedneas~ credit to the account of t~~~ :~'Iortgagor any cred~t balance remaining under the pruvisious o[ (e) ot said paragrqph 2. lt the~t+ s}~ell be a detault u~der any oI the provisiona of this n~ortga~e reaulting i~~ a public sale of the premises covered herebv~ or if tlie Morlgagre acquues the propert,y oUierw~se a~tor defuulc~ the Mortgagee~ as truatee. ahall apply~ at ~he time of the commenceme~t of such proceedii~g~ or at tl~e ~ime the pmpert.y ia otherwiae acquireci. the amount tl?en re~~?aini~g to crr.dit of Mortgegor uncler (s) of paragrapl~ 2 preceding as a credit on Ihe interest accrued and unpaid and the balance to the principallh~a re~naiuing unpaid on said note. 4. He ~rlll p?y aU tauces~ aeeeeementa, water r~?tes. and otLer~overnment~?1 os muaiciPv ~+i8~, impoeitione, tor which provieion has not been made hereinbefore, sad in defsult f~hereoi Ws biortgagee ma?Y W~Y ~ s~mo; and tb~?t 6e will promplly deliver the o~cial reoeipl~s therefor to t6e Mortgag~ee. 6. 8e ~rill permit, oommit, or euHer no waste~ impairmea~, or deterion?tioa ot es~d property or any part t6ereof ~ e~ccept reaeonabb wear and ~ and In the event of the fsilure the~ Mortgsgor to keep tLe building~ on esi~ premieee snd thaee to be erec on eaid premisea, or ~mprvvemeats n~ ia good repair the Mortgagee may maka euch repairs as in its diecretion It may deem neceeeary tor the proper pree~rvstion thereo#~ ~nd the tull emount of eacb sad every suc6 paymen~ shall be due end psyable t,hirty (30) days after dem~ad, and e~6all be eecured by the lien of t6is mortg,age. ; 6. He ~viU psy sll aad eingular t6e ooetn~ chArgea aad espenees, including resaonsbk lawyer's feee, and oosts ot abetracts of title~ incurred or paid at aay time by t6e Mortgagee becauee ofthe failure on the part of t6e Mortgagor peomptly sad fully to pedorm the agreementa snd eovensnte of eaud pmmieeory note and this. mort~gage, and eaid coete, ehargea, and expenses ahaU be immediately due snd payable aad she~ll be eecured by t6e lien of thia mortgege. - T. He will oontiauous~y maintsin hasud insurance, oi euc6 tiype or types and amounts ae Mortgagee may trom time to time require, on the unprovemente now or hereaiter on said premisea snd eacept when psyment ' tor all such premiuma Laa theretofore been made under (s) oi paragraph 2 hereof ~e will psy pmmpLly when due any premiums therefor: AlI insuredce shall be carried in companiea approve~ by I~iortqe,qee and the poli- cies and renewals thereof shall be held by Mortgagee and have attached thereto lasa payable crausee in iavbr ot snd in [orm aceeptable to the Mortgagee. In event of losa he will give immediate notice by mail to Mortgagee, ` and Mortgagee may make p~roof o3 Iosa if not made promptly by Mortgagor, and each insurance oompany ` ooncerned is hereby~authorized and directed to make payment for such lo~s directly to MortgaAee inatead oi ~ to Mortgagor and Mortgagee jointly, sad the inaurance proceeds, or any part thereof may be app7ied by Mor~ P gagee at its option either to the reduction of the indebtednesa hereby eecured or to the restoration or repair of ; the pmperty dama~ed. In event oi foreclosure of this mortgage or other -transfer oi title to the mortgaged ' pmperty m eactinguishment of the indebtedness secured hereby, s~l right, title~ and interest of the Mortgagor F m and to any inauranee policies then in force shall pnss to the purchaser or grantee. 8. If tLe Premis~~, or au~• purt thereuf, !x• ~•ondeiuned under t)i~ poKer of e~i~inent~ dou~aw, or acc{uireci for a public use, tlie da~i~ages awarded, tlu• pro~•eeds for ilie taking of~ or the ~onsiderution for such acquisition, to tiiP extent of tl~e full u~i~ount of tLe reruaining unpaicl indebte~ine~ss sec•ured b~• tl~is mort~age, are l~ernb~- ussi~?ne~l to tit~ ~lortgaKee, und hi.c heirs or aasi~;~?s, urni ~liull tx~ puid forthv?ei}~ to ~si<t ~lort~age~ or l~is assig~iee to t~ applieil oii ar~•ount of th~• la,t u~uturi~~~ iiistallm~~nts of su~•1~ in~lcbtedness: pro~•id~•d, lio~~~~~•er, the ~iortgukce or l~is ussiKne~, iuu~' nt I~is dis~•n•tion ps~~- dir~~~•t to tli~ ~Iort~u~or, Lis h~•irs or u~si~ns an~~ part or all of such aw•ard; provi~lc~~l, tliut if thc~ loun is ~unri~ntc•i~d or insur~~d, tLe ronsent of lt~e Kuarantur or insurer is obtained in advance of said pu~•ii~ent. 9- The :~iortgagee may~ at any time pending a suit upon this mortgage, apply to tLe o~urt having jurisdiction thereof for the appointment of a receiver, and suc6 court ahall forthwith appoint a receiver of the ptemises covered bereby all arid singular, including all and singular the income~ pmSte~ issuee~ and revenues fmm whatever source derived~ each and every of which~ it being expressly underatood~ is hereby mortgaged se if apecifically aet forth and : described in the granting and habendum clauses hereof. Such appointment ahall be made by such oourt as an admitted equity and a matter of absolute right to aaid Mortgagee, and without reference to the adequacy or inadequacy of the value of the property mortgaged or to t6e s~lvency or insolvency of said Mortgagor or t:~e defendants. Such renta, proSta, income, issues~ and revenues shall ise applie~! by such reoeiver according to the lien of this mortgage ~ and the practice of such court. In the event of any default on thep~t of the Mort~agor hereunder, the Mortgagor agrees to pay to the Mortgagee on demand as a ressonable monthly rental for the premiaes an amount at least equivalent to one-twelfth (3~z) of the agg~egate of the twelve monthly installments payable in t6e then current ; year plus the actual amount of the annual ta~ces, assessmente, w8ter rateP, and inauranoe premiums for such year a not covered by the aforesaid montWy paymenta . ' 10. In the event of any b-each ot this mortgage or default on the psrt of the Mortgagorf or in the event thst ; ~ any of said sums of money herein referred to be not promptiy and fully paid according to the tenor hereof, or in the = E event that each and every the stipulations, agreements, conditione, and oovenanta of said note and this mortgage, ; are not duly~ promptly~ snd fully pedormed; 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 moneya secured hereby, ahsll beoome _ ' due and payable forthwith, or thereafter~ at the option of said Mortgagee, as fully and completely ,ia if all of the ~ said eums of money were originally atipulated to be paid on such day, anything in ~aid note or in this mortgage to ~ the contrary notwithstanding; and thereupon or thereafter. at the option of said Mortgagee, without notice ~r "demand~ suit at law or in equity, may be prosecuted as if all moneys secured hereby had matured prior to its institu- ~ tion. The Mortgagee may forecloBe this mortgage, as to the amount eo declared due and payable, and the said premiees shall be sold to satisfy and pay the same together with oosts, expenses, and allowances. In ca~e of partial ~ foreclosure of this mortgage, the mortgaged premises shaU be sold subject to the continuing lien of this mortgage ~ for the amount of the deht not then due and unpaid. In suc6 case the provisiona of this paragraph may again be ~ availed of t6ereafter from time to time by the Mortgagee. ~ i l. No waiver of any oovenant herein or of the obligation secured hereby ahall at any time thereafter be held ~ to be s waiver of the terma hereof or of the note eecured hereby. ~ 12. Tbe lien of this instrument shall remain in full force and e~ect during any postponement or extension of _ the time of psyment of the indebtednese or any part thereof eecured hereby. - 13. If the Mort$agor default in any of the covenants or agreementa contained herein, or in esid note, then the x MortgageE may pedorm the same~ and all expenditurea (including reasonable attorney's fces) made by the MortgaRee < in so do~ng shall draw interest at the rate provided for in the principal indebtedness, and shall be repayable ~ $ thirty (30) days after demand, and, together with interest and costs accrued thereon, shall be secured by ~ this mortgage. ~ ~ 14. Upon the request of the Mortgagee the Mortgagor shall execute and deliver a supplemental note or ~ „ notes for the sum or sums advanced by the ~tortgagee for the alteration, modernization, improvement, main- ~ tenance, or repair of said premises, tor taxes or as.Qessments against the same and for an~ other purpose au~hor- ~ ized hereunder. Said note or noles shall be secured hereby on a parity with and as fully as it the advance ~ evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear ~ interest st the rate provided tor in the principal indebtedness and shall be pavable in appmximately equal ~ monthly psyments for such period as may be a~reed upon by the creditor and debtor. Failing to agree on the ~ maturity, the whole of the sum or sums so ad~anced shall be due and payable thirty (30) days after demand - ~ by t6e creditor. In no event s6a11 the maturity extend beyond the ultiraate r~eturity of the note first ~ deacribed sbove. - ~ A Q ~ ~ ~ ~Q ' ~ 800K PAGE ~OO _ . _ _ . _ , ~ t,".;"~~ ~ ~ e,s,,a., ~ xv- 3 ~I ~~'.,e w`~ - - „ ""~i'''y-~~~ ~~d.~- ~ v~`--~'t~''.~ ~.,w-;~ ~ ~ a - .v . ..s 4., . . ~ _ . - -