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HomeMy WebLinkAbout1705 l AND Me soid Mor~qa~or herebr co~enonts ond ap?e~s with th~ soid Mort9ope• o~ folbwi: FIRST: Thot the Mort9a~or is lawfullr seized of the obov~ deurib~d pren+ises in f~~ simpl~ ond hos ~ood riqh~ Io sell ond ! conver Me some to the Mortqo9ee; that th~ soid prert~ises are fra~ and discharQed of ond from oll taxes, tox titles or c~nificotes, ~ jud9ments, mechonii s liens a~d e~+cumbrcnc~s of a~y nature or kind whafsosv~r ond Mof the MortpoQor will fullr worrant and ~ defend the same fo the Moh9oyes, a9oinst ~he lowful cloi~ns ond demonds of oll p~rsons wlwmso~ver, ond will mok~ wch further ~ ossu~onces to perfed fee simple title to soid land, in the Mort~aqee, os moy reoionobl• be ?~quired, and will poy fhe several sums of money ogreed in the soid note to be poid aod oll installm~nts of pri~+cipol ond inter~st thereon promptly when due, and ~ according to the t?ue tenor ond efFect of Me :aid ~+ote. . SECOND: That the Mort~aqo~ will poy all ond iin9ulor the toxes, assessments. levies, cnd encumbronces of every noture on ~he obove deuribed propenr, ond upon Mis monqaqe ond nots, or Me naner s~cured Mereby, before deli~quency th~reof ond ~eceipls e~~dencin~ poyment of soid toaes, assessments, levies and encumbronces sholl be deposited with 1he MonqaQee on or befo~e Morch 1 st of eoch succeedinq yeor durinq the term of this nart~a~e; and if same be not promptly pcid when dve, the Mortgcgee moy ~without obligotion to do so) pay Me sam~, or b~cane purchaser of ony lawful evidence the~eof, o~ cenificofe Merefor, without woivin~ or cffectin9 any ri~ht hereunder and in this mortqo~e, o? the said note which Mis nartpa9e secu~es; ond such poyment: or expenditvres so n+ade shall beor interest from the dote thereof ot the rot~ of eiqh~per centum ~ per onnum. 3~4 (8-3/4$) THIRD: Thot the Mo?tyagor will keep all real ond personal property ~ow w he~eofter encumbered br the lien of this mo~tgoge iruured as moy be required f~om time to time by the Mort~apee cpainst loss br Are, windstorm and olher hazards, cosualties and continyencies for wch periods and fw no~ less then such anaunts a: mar be required by the Mon~o~ee and to por promptly when due all premiums for sud~ insuronte. The amounts of wd~ iosuronce required by the Morf9o~ee ore expressive of ooly the minimum omounts fo~ whith soid iesurance shall be written and it sholl be incvmbent upon the Mo?t~apor to mointain such additional insurance as may be necessary to meef ond c~on~plr fullr with all co-i~uuronte requirements contained in soid policies to the end that said Mortgogor is not o co-insuror thereund~r. I~uurance sholl be written by a oompanr or canpoeies approved by the Mo?tgagee and otl policies and renewals thereof sholl be held by 1he Mo~t9oqee. All detailed desiynctions by the Mortpo~or whnh are oocepted br 1he Mo~t~ayee and all a~reements befwear~ Mort~aQor ond Mortqapee relating to inwronce, now e~isting or hereofter made, shall be in writin~ and shall be a pott of this nart~a~~ a9reement as full~r as 1hou~h set forth verbatim herein and shall yovem both parties herero ond their waesso?s ond essi~ns. No liea upon any of soid pOiities of i~wrance or upon ony refw+d or return premium which moy be porable on the cancellation or te?n+inotion thereof, shall be 9iven to other thon the Mo~t- 9a9ee, except by proper endonement offixed to wd~ polic~/ and opproved by Mortpapee. Each poliqr of insuraoce shell have affixed thereto a Standord M.o~tyaQee Clause aaeptoble to the MortQa~ee, makin~ all loss w losses under wch polity poyable to the Mortgogee as its interest nwr appear. In the eveM ony wm or wms of money beoome poyoble thereunder the MoMqa~ee shall hove the optan to receive ond apply fhe same on acoount of fhe indebtednsu herebr setured, or to permit the Nlortqoyw to receive ~and use it, or any part thereof, wifhout thereby waivin~ or impairin~ onr equitp, lien or ripht under ond br vi~tue of this nwrtgage. In event of loss or phrsical damoqe to fhe na~tqa~ed property the Mo~t~o~o~ shall ~ive immediote notice thereof by moii to the Mortgagee and the Mort~apee moy make proof of bu if the some is not made prompNy by the Mort~agor. In event of forecbwre of this mo?t~a9e or othe~ tra~ufer of title to fhe mort~a~ed propert~r in e~tin9uishment of the indebtedness secured hereby, all riyht, tiNe and interest of the Mortga~o? in ond to aer iowrance policies then in force shall pass to the purchaser or grantee. Upon any default thereof, the Mwt9opee may (but without obli~alion on its part so to do) Plote i~uurance on wch buildings and pay the premium and charqe wch wms so paid to fhe Mort~a~or ond wch sums of money so paid shall bear interest from the date of parment at fhe rate of ei~hrper centum j@~per anrwm. 3/4 (8-3/48~ fOURTH: That all sums of money paid or caused to be poi br the Mortqa~ee under Me terms of this nart9a~e and herein specificallr provided for, ond indudinq any e~epenses incurred by Me Morfqa9ee in collection of the sum secured b7r this mo~tpage, shall be covered by the lien of this mort~a~e, the same os the sums of money represented by the note which this mortgape secures. ~ FIFTH: To permit, commit or suf~er no waste, impairment or deterio~ation oi soid property, or ony parY thereof, and upon ! the failure of the Mortgagor to keep the buildin~s on said propertp in ~ood oondition of ~epair, the Mortqa~ee moy demand the ~ immediete repair of soid buildin~s, o? on increase in the onaunt of sewrit~?, or the immediate reparment of the debt hereby ! ~ secured, and the foilure of the Mo~tgaqor to canply with said demand of the Mo~tgayee for o period of fifteen (15) days shall l constitute o breach of this mo~t~age, and, at the opYan of the Mort~o~ee, immediofely moture the entire unpoid principol ond interest hereby secured, and the Mo~tgaqee mar. without notice, i~titufe proceedings to foreciose this nwrtgaye, ond apply for the appointment of o receiver, os he?einofter provided. SIXTH: That the Mo~tga9or herebr promises, covenonts and aqrees to poy the wms.of money ond interest os mentioned in said promissory note, together with ony end all other sums jusHr due and owin~ the Mort~a~ee br the terms therein, ond secured to be paid as stated therein promptlr when due. If defauh shal: be mode in the payment of the said sums of money or any Port ~ thereof os provided in the said note or this nart9a~e, or if the interest that nwjr bacome due the~eon or any part thereof shall be in default and unpaid for a spote of fiheen (15) do~?s, or should the Mort9a~or breoch or fail to comply with any other toverwnt ~ or ag?eemeM on the pa?t of the Monpa9or to be complied with (in those coses in which the option of the Mo~t~aqee of aaelera- ~ tion is not othe?wise expressly provided herein) pnd wcfi breach or ian-complionce continue in existence for a spate of fifteen (1 S) ~ doys, then and from thencefoNh, at the option of the Mortya~ee and without n~tice to the Mort~agor, the whole of said principel ~ sum expressed in said note, toqether with al) other sums therein as well as herein provided for, shall become immediately due and poyable, without notice to the said Morf~o~or. ~ SEVENTH: Thot in case it slw~ld become necessary to ptace this mortyage and the note secured herebr or either of them, in the hands of an attorney for collecfion, fhe soid Mortgago~ covenonfs and a~rees with the Mortgoyee to pay otl tosts, chorges ~ and expenses of such collection, includin~ reasonable attorner's fees whether coltected br foreclosure or otherwise. ~ ~ EIGHTH: That, in the event any suit is brought upa+ this mon~a~e, whether to foreclose it, to reform it, or othe?wise, ~ and or to enforce payment of any daim hereunder, the Mortya~ee mor apply to any court having jurisdiction thereof for the ~ appointment of o receive~ of soid mort~a~ed prope~tr, os well es the income, profits, issues ond revenues thereof, ond the soid ~~~x 243 PA~ 1705 ` -z- ~ -r~ - ~ - - - - .