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Home My WebLink About0798 . • } ~ 1'~ ~ tsnder ~W the 'Mortgagee in ~cconl~nce with tha provisiona o[ ll~e notc~ secured lierebv, (ull payuient ot the eatire indebtednees represented therebv~ the Mortgsgee. aa trus~ee, ahsU, i~ con~puting the smount ot auch indebtedness~ etedit to tl~e account ot tl~e Mortgagor sny credit balance remaining wider tl~e provisiona of {a) ot ssid p~n?ph 2. It tt~ere a1~aU be a detault under any oI the pmvisions ot this ~uortga~e resulting in • public sale o the premisea covered herebv, or it the Mortgagre acquues the pmperty otherw~se a[ter de~ault, the Mottgagee~ aa truatee, ahall apply~ at the cime of the can~iiencement ot such proceedings ur at tl?e.time the pmperty ~s otherwise scquire~l~ the a~nount then rr+u~sining to credit ot Morlg~gor under (~j of puagrapl~ 2 preceding ae a credit on the interest sccrued and unpsid and tlie balance to the principal lhen remai~uig unpaid on said note. • 4. 8e wiU p~y aq taaee. aeeeaement~„ w~t~es rsta, ~nd othee~overnmental ar municipal ch+na, 6ae~. os impoaitioas, far wWeh provision Laa not beea made hereinbetore, and in default fhee~eot t~6s Mort~es ayY Py? tbs ~ms; ~ad that he wlll prompt~y deliver the oS'ici~l reoetpt~s therefor Lo Lbe Mort~es. b. He will permi~, o~mmit, or suBer ao waste, impairmesR or deterio:sti~ ot edd property ar any p~tt t6et~eof ea~oept reasonsbb ~vear and Lear• ~wd in the eveat ot the failure of Lhe Mortdagor to keep the buiidpnp on ~ pcemiaes and thoee to be erecte~ oa eaid premisee. or ianprovements thereon, in good repair tLe Mortgpgee m~,y ~ ma1~e sueh npairs as in ite disenlioa it msy deem neoeeesey for tLeproper presGrvation Were~ and the full am~ouat t,be 'Lea thise~mo t~~ y~~ a6all be due aad pe~y~ble thirf,y (30) days dt~er demaad, aa~ shsll bs secured by 6. He will p?y all snd eingular the ooets~ clharg~ and a~cpeneea includin~ rea~onsble Lwy~'s fees, and oosts oE abstncts of title, incun+ed or paid at aqy time by the Mortgagee becsuee of the tailure on tLe psrt of tde Mortgn~or promptly and fully to perform the agreementa and oovenants ot ssid promias~ry not,e snd thia mo~~gpg~, snd e~d oosts, eLsrgea, and expeases ehall be immediately due and p~ysble and s6sll be seeured by the liea of this morts,sge. T. He will oontiauous~y maintain hazard insuranoe, oi such type or t~pes and amouate se Mortgsgee m~ ~I'OID UIIl6 LO t1I118 1'~UllA~ OA Lh@ lIil~)1'pV8m8Af6 IIOV/ Or LBrBitl~' OII Bsld pnmises and e~oepL when paymenti tor alt sn~ priemiuma haa tberetofore been made under (s oi psragrs.ph 2 hereof ~e will pay promp~,~y when due any pt~emiums ~horefor. All insuraace shsll be carri~in c~ompatues spprove~ by 11io ee and t6e poli- 0 cies and renewals thereoi s6all be held by Mortgagee and hsve attsched thereto lo~a payable c ausea ia favor of and in form aoceptable to t6e Mortgag~. In event of losa he will give immediate notice by msil to Mortgagee~ and Mortgsgee msy mske proof . o~ toes it no~ made prompLly by Mortgagor~ and each iu~sursnoe oompany oonceraed ia hereby~authorized and directed to make payment for such losa directly to Mortgagee instead of to Mortgagor sad Mortgsgee ointly, and the insurance pmceeda, or any part thereof msy be sp.p7ied by Mortr gagee s~ its option either to ~e reduction oi Lhe indebted.neea hereby eecured or to t~he reatorataon or repsir of the pmperty dama~ed In event oi foreclosure oi _this mortgage or other trsnster of title to the mortga{,red property in e~ctingu~shment o! the indebtedness eecured hereby, a~l right, title, and int,erest oi t~he Mortgagor m and to any inaurance policiee then in force ahall pnss to the purchaser or grantee. 8. If the Pre~uisi~s, or un~- purt tLernof. be conden~ned under tLe power of ei~~inent dai~nm, or acyuired for a public use, tlie damages awarclecl, tl~e pra•eeds for the taking of, or the considerution for sucli acquisition, to ; tl~e extent of tLe full amount of U~c remaining unpaid indebte~lness sPC•urecl b~• this n~ortgage, arn hernb~• assigned to th~ :1lortgap,c~e, and his h~irs or assiKns, und sliall tx• paid forti~Hith to snicl ~toctgagee or his assigr.ee to be applied on acrount uf th~• last n~aturing installments of such ind~btedness; provided, hoNC~er, the 4lortguKee or his ussignee, u~u~• at his.~li.sc•ri~tion pa~- dire~•t to tt~e vlortgagor, his heirs or ussigns an~ part or all of su~h awanl; provedeil, thut i( the luan is Kuaranti~~d o~ insurcKl, th~ ronsent of the guarantor or insurer is obtained in advance o[ said pa~•nient. 9- The Mortgagee may, at any time pending a suit upon this mortg,age, appty to the court having juriadiction thereof for the appointment of a receiver~ and such oourt shall forthwith appoint s receiver of the prem~ oovered hereby all a~d singulat, including all and aingular the income, pmfita~ iesuea, and revenuea from whatever source derived~ each snd every of whic6, it being expressly underatood~ ia herEby mortgaged se if apecifically eet forth and described in the granting and habendum clauses hereof. Such appointment ahall be made by auch oourt se an edmitted equity and s matter of absolute right to eaid Mortgagee, and without reference to the adequaoy or inadequacy of the value of the pmperty mortgagEd or to the solvency or insolvency of said Mortgsgor or t~he defendanta Such renta, prafita. income~ isaues, and revenuea shalt be spplieil by such receiver ac~ording to the lien of thia mort~gage and the practioe of auch oourk In the evenL of any default on the patt of the Mortgagor hereunder~ the Mortgagar agreea to pay to the Mo oa demand sa s reasonable montlily rental for the premiees a6 amount st least equivalent to on~twelft6 (~sj of the aggregate of the twelve monthly installmente psyable in the then current year plua the actual amount of t6e annusl taxea, s~asmenta, water ratea, and insuranoe premiums for such year not oovered bq the sforesaid monthly payments. 10. In the event of any breach of this mortgage or default on the p~rt of the Mortgagor, or in the evr.nt t6at I any of eaid auma of money herein refere~ed to be not promptly and fully paid accordu'~g to the tenor hereof, or in t6e ~ i event thst eac6 and every the atipulationa, agreements, conditions, and covenants of said note and this mortgage~ ~ are not duly, promptly, and fuUy performed; then in either or any such event, the said aggregste $um mentioned in eaid note then remaining uapaid, with intetest accxrued to that time, and aU moneys aeeured hereby, ehall be~wme f due and psysbae forthwith~ or thereafter~ at the option of said Mortgagee, ss fully aad completely ~a if all of the said sums of money were originally stipulated to be paid on such day, anyt6ing in esid note or in t6is mortgage to the oontrary notanthataading; aad thereupon or thereafter, at the option of said Mortgagee~ without notice ar I demand, suit at law or in equity, msy be prosecuted ss if all moneya aecur8d hereby had matwed prior to ite inatitu- f tion. 1'he Mortgagee may forEClo~e this mortgage, as to the amount eo declare~i due and ~ remiaes al,all be sold Lo satisf and payable, and the eaid ; p y pay the same together with ooats, expenees, and allo~vancea Ia case of partial ~ ~forecloaure of this mortgage, the mortgaged premises ahaU be eold aubject to the continuing lien of this mortgage 4 for the amount of the debt not then due and unpaid. In suc6 c~se the provisions of thie paragraph may again be i svailed of thereafter fmm time to time by the Mortgagee. 11. No wsiver of ~?ny oovenant herein or of the obUgation secured hereby ahall at any time therenfter be held j to be s waiver of the ternns hereof or of the note eecured hereby. ! 12. T'he lien of this in~?trument ehall remain in full force and eBect during any po~t,ponement or extension of ' the time of psyment of the indebtedneae or any part thereof aecured hereby. ~ 13. It the Mortgagor default in any of the oovensnte or agreemente oontsined herein, or in eaid note, then the ; ; Mortgagee msy perform the same~ and aU e:penditwes (including ressonable attorney'a fces) made by the Mortgagee + I, in ao do~ng shsll draw interest at the rate provided for in the principal indebtednesa, and shall be rnpayable ' k ; t6irty (30) days atter demand, and, together with interest and costs accrued thereon~ ahall be secured by ~ ; this mortgage. _ } i ; 14. Upon the request of the Mortgagee ~the Mortgagor shall eaecute and deliver s snpplemental note or ~ notes for the sum or sums advanced ny the titortgagee (or the alteration~ modernization, improvcment, main- E tenance, vr repair ot said premisea, for taxes or assessments against the same and for any other purpose author- i ized hereunder. Ssid note or notes shal! be secured hereby on a pari~y with and as fully as it the advance E evidenced thereby were included in the note 6rst described above. Said supplemental note or notes shall bear ~ interest at the rate pmvided for in the principal indebtedness and shsll be payable in appro~imately equal monthly payments for such period as may be agreed upon by the creditor and debtor. Failing to agree on the ~ meturity, the wbole of the sum or sums so advanced shall be due and psyable thirty (30) days after demand ~ by t6e creditor. In no event shall the maturity extend beyond t6e ultimate raaturity of the note 6rst , described above. ~ BOOK PACE 7~ ~ ~ E - . ~ ` ~ ' ~ T { ~y ~ ~ _ _ . '~.,"j^~" ~ :