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Home My WebLink About2244 . • , . t~nder to the 1ldortgagee in accorJen~•e witl~ ti~e pwvisioi?s ot tl~e not~ arcured kereb~, fu~l pa~•iuent of the entin indebtedneas represented tberebv, the l~~ortga~ee, as trustee, shull, in cu~uputing thP s»iount of such indebtednesa~ ctedit to the account of t~,e Man~Kor nny creclit bwlance temainin~ undPr the ptoviaions ot (s) o~ said r~ph Z. 1~ thPre al~all be ~ de~au t undP~ sny ot U~o pwvisio»s of thia u~ortga~e resulting in e public sal~ the pre~n~ea cuvered l~ereby, or if tl~e Mor~gagre acqu~res 11~e property otl~erwise after defsult, the biottg~gee~ as truatee~ sha11 apply~ ~tt the ~u~~e a~ the couu~ience~y~ent ot buch proceedinga or at Uie time the property ~a otherwise scquired, tha ~mount then remsining to credit of biortgagor undet (s) of paragraph 2 preceding aa a eredit on the intereat acerued snd unpaid end tfie balonce to the principal then remaining unp~id on said notp. . . 4. He wiU pay ~11 taxes~ aaeeesrneab. w~?tet rutes, ~ad ot~her ~overninental or munieipal ehar~gee~ fine~ os impoeitJoas, for which provision has aot beea made herPinbefose, and in defsult thereot tbe Moet6~6~ ~Y W~1? ~ a~e; and t6st be will promptly deliver t~6e og'ieial reaeipta theretor b t6e Mortdages. 5. He ~?ill permi=, oommit, or suRer no Naate, impe?irment, or deterioration d satd propetty or any part the~eoi accept reaaonabb wear and tear; snd in the erent ot the tailure oi t~Ae Mortg,agor to keep th+~ building~ on ssi~ premiees and tl?ose to be erected on asid pnmises~ or impmvementa thereon, in good repm~ir the Mortgagee may make such rep4~ira as in ita diaeretioa it msy deem neceaeary for tl~e proper prexrvation thereo~, and the full aanoun0 ot each twd every auch psyment shall be due aad p~ysbk thir~y (30) daye aft~er demsnd, and s6all be seQUred by tbe lien of tdis mortg~. . 8. He wiU piy e~U aad ~ingular the oosta~ cAa~, and eapenees, including reaeonable Iswyer'~ fees, and eosv ot sbetracta of title, incurred or peud a~ aay time by e?4iortgngee becauee of the tail~ue on the part oi the Mort$agor promptly and full to pedorm the agreementa and covenanta of eaid promieeory notc sad this. mortgage, and eaid ooata, c1u?rgee, an~racpenses shall be immediately due and payabte and e6ull be eecured by the liea ot thia mortgage. 7. He wiU oontinuoualy msintsin h~ard insunnce, oi such type or types sad smounte as Mortgagee may trom tune to time require,~p t~~ impmvements now or heraafter on said premis~ and excspt whea paymen~ tor sll auch premiums hss tb'ere~ofQre ~,Aen. de under (s) of paragrsph 2 hereof, ~e vvill pay pmmptly wben due any premiums thcrefor. AD insurince ~ell ~ie carried in compsnies spproved by 111ortgagee and t6e li- cies and renewals thereof sb+?ll be held by Mortgegee sud h~ve attsched thereto losa paysble clauses in favor oi and in form accepteble to lhe Mort~agee. ~In event of loss ~e will give immediate notice hy mai~ to Mortgagee, and l~iortgsgee may make proof a~ Ioss if aoL made promptly by 1~Iortgagor, and each insurance eompany ooncerned ia hereb authoriaed and directed,to make payment for such loss d'uectly to Mortgagee inatead ai to Mortgagor and ~ortgagee ointly, and the insurance proceeda~ or any part thereoi, may be app7ied by Mort- gagee at its option eit6er to t~e reduction oi tDe indebtedness hereby eecured or to ihe restorataon or repair of the pmperty damaped. In event of loreclosure oi this mortgage or other transfer of title to the mortgaged pmperty u~ extingwshment of the indebtednesa secured hereby, a~l right, title, and interest oi Lhe Mortgagor m and to any inauraace policiea then in force ahall pnsa to the purehaser or grantee. If the premis~w, or an~- purt lla•rnof, tx~ c•on~leu~ned under the powrr of emin~nt elauum, or aryuir~~cl for a public use, the dun~a~e•s nw•arcie~l, the prorrecls for the~ takit~K of, or thh coi~sidrrutian for suc•h aequisition, to tLe e~t~nt ot th~ fv1) a~nount of tLe rPn~aininK iu~pAid in~i~bt~~~lnc~s se~•ured b~~ this u~ort~aKc. arn hernb~~ assi~;necl to tlie ~lortgaK~~~. uiul his h~•irs ar ussi~;ns, un~l tI11II IN' pui~l forth~~ith to said Ziortga~ee or lii.c . assignee to l~ applic~l on_ac•rousU uf th~• last u~aturin~ instatlie~~•uts of su~•1~ in~iebtedn~~ss: pro~•ide~l, hou-~•~•er, tiic \lortgu~ce or his as.c~~;n~r, uiu~- at his disc•r~~tioii ~1u~- <lire~e•t to tLe ~lortgvgur, hi,~ hrin ur ussig~?s an~~ purt or al) of surl~ aH-arsl; pro~-iil~~d, thut if th~• luun is ~:u:ir:~~?t~~~~~! or insum~i, tL~ eonseut of tlie~ guarantor or ii~surer is ot~tained in advance of saicl pa~•inent. The Mortgagee may, at any time pending a auit upon Lhis mortgage, apply to the court having juriscliction thereof for tAe appointment of a receiver~ and such court ahall forthwith appoint a receiver of the premiaea oovered ~ hereby atl arid singular. including all and singular the income, profita, issues, and revenuee from whatever sowce derived, each snd every of which, it being expressly understood~ is hereby mortgaged as if apecifically set forth and described in the granting aad habendum clauses herPOf. Such appointment shall be made by such court as an admitted equit~ and a matter of absotute right to said Mortgagae, and without reference to the sdequacy or inadequacy of ttie value of the property mortgaged or to the aolvency or insolvency of said riortgagur or t'?e defendants. Such rents, pmSts, income, iasues. und revenuea s6all be sppliecl by such r~ceiver according to the lien of this mortgage sad the practice of such court. In tLe event of any default on the part of the Mortgagor hereunder~ the Mortgagor ag~ees to pay to the Mortgagee on demand ss a re.asonable montbly rental !or the premiaes an amount at least eqwvalent to one-twelftb of the ag~rEgate of the twelve monthly instaltments payable in the then curren6 year plus the actual amount of the ~nnual taxes, sssessnnenta, water rates, and insuranoe premiums for euch yeat not covered by the ~?foresaid monthty psymente. 10. In the event of sny b~each of thia mortgage or default on the part of the Mortgagor; or in the event thst wy of said awna of money herein referred to be dot promptly and fully paid according t,o t6e tenor hereof, or in Lbe event that each and every the atipulations, agreements, conditiona, and covenants of said note snd this mortgage, ~?re not duly, promptly~ and fully periormed; then ia either or any such event~ tbe said aggreg~te $um mentioned in eaid note then remsining unpaid, with interest accrued to that time, snd aU moneya ~ecured hereby, ahall beoome due a~d psyable forthwich~ or thereafter, aL the optioa of said Mortgagee, as fuUy and completely sa if all o! t6e eaid auma of money were originally stipulated to be paid on such dsy, anything in said note or in this mortgage to Lhe wntrery notwrithatanding; sad thereupon or thereafter~ at the option of said Mottgagee~ without notice ~r demsnd~ auit st Iaw or in equity, may be prosecuted as if all moneya secwed hereby had matured prior ta its institu- tion. 1'he Mortgagee may foreclose this mortgage, as to the amount so declared due and payable, and the eaid premiees ahall be sold to satisfy and pay the same together with costs~ expenees, and atMwancea. In ca~e of partisl forecio~ure of this mortgage~ the mortgaged prnmises ahall be eold subject to the cantinuing lien of this mortgage !or the amount ot the debt not then due and unpaid. In euch case the provisions of thie paragraph may again be svailed of tberPSfter from time to time by the I~iortgagee. - ~ 1 l. No waiver of any covenant 6erein or of the obligation seeured hereby shall st any time thereafter be held to be s waiver of the terma her~of or of t6e note secured hereby. ~ 12. The lien of thie inatrument ahall remain in full force and eHect during any postponement or extension of t6e time of psyment of the indebtedneas or any part thereof eecured hereby. 13. If tbe Mortgagor defsult in any of t6e covenanta or agreements oontained herein, or in eaid note, then the Mortgagee msy perform t6e same~ and all eupenditures (including reasonable attorney'e fees) msde by the MortgaAee ia so do~ng shall draw interest, st the rate pro~ ided for in the principal indebtedness, and shall be repsyable thirty (30) dsye siter demand, snd, together with interest end costs accrued thereon~ ahali be secured by thi~ mortgage. 14. Upon the request of t.he Mortgagee t6e l~iortgagor shail eaecute and deliver a supplemental note or - notes for the sum or sums advancecl by the ~tortgagee !or the alteration, modernization, improvement, main- tenance, or repsir of ssid premises, for taxes or as.Qessments sgainst the same and tor any okher purpose suthor- ized hereunder. Ssid note or notes shall be secured hereby on a parity with and as fully as it the advance evidenced tbereby were inctuded in the note first described sbove. Said supptementai.note or notes shall bear iinterest st tLe rate pmvided for in the principal indebtedness and sha11 be peyable in approximately equal monthly psy ments tor such period as may be agreed upon by the creditor and debt,or. Fsiling to agree on the ms~urity, the whole of the sum or sums so advanced shall bc due and ps~~sble thirty (30) days stter demand by Lhe creditor. In no event s6all the msturi~y extend beyond the ultimate rsaturity of the note f rst deaeribed above. 800K ~4~ PAGE 4~,45 600K G~ PA6f ~7~ ~ _ , ~ -~~~t: ~ ~ ~s .~-~r:~~.~. ~ _ ~