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Home My WebLink About1763 leuder ~o tne Mortgsgee in ~ccoruance w~u~ cne provteions o~ ~ue no~P secu~eu nereuv~ ~w~ ~,r~uea~ v~ ine ; en~ire indebtedneaa represented thereb , the I1~lo~tgogee~ as trustee~ aholl~ in computi~g the au~ount ot such ~ iadebtedness~ creciit to tlie account of t~e Morlgagor eny Gtedii b+~l~nce remwining under tl~e provisions ot (e?) ~ ot a~id ~ph 2. lt there sl~~ll be a defeult under any ot tl~e provisions of tt~is iuort.~~e reaulting ia A ~ public aale o the premiees covered hereby. or it the Mortgagre acquires tl?e pmpeny otherwise ~tter default~ ~he Mottgagee~ ~e trustae, shsll apply. at I.he time ot the couimencement o~ such proceec:inga or a~ tl~e time the property is otherwise ecquirecl~ the a~nount lhen remaining ~o credit ot Mortgagor under of paragnph.2 preceding as a credi~ on the intereaC ~ccrued and unpaid ~nd tt?e balance to the principal then rerneining unpatd on aaid no~e. 4. He wIU q?y all ta~ces, aeeaee~nents„ wi?tee rr?ta, and othes~overnmeatal or municiP~1 ehae~ea, Gaa. os impc~tions. Ior wLieh prov~stoa Laa not beea made bet~einbetors, and in detault thereoi tLs Mo~ti~6~ ~Y PU? ~ ~ao~s; and t,hat bs will prompLly delivee t6e o6aa1 reoeipta theretor Lo the Mortg~ee. b. He ~riU permit, oommil, os suHer no waate, impatrmenk or det~cior~tion ot eaid property o~ aay psrt tbereot euce~ reaeoaabk wear sad t~r• und in ths even~ at tbe t~ilure of We Mort~gor to keep We buildinp on saia premiees and Lhoss to be erects~ on said pceeniee~, or improvements Wereoa, in good repair t,Us Mort;,agee may make such repairs as ia ita disoretion iL m~?y deean neoeesary for theproper presccvation t6ee~eo~. and the full ~~mount oi each and every suc6 payman~ eh~?U be dus aad p~?yable L~irty (30) d~ys ~tt~er demand, aad shsll be secured b~? tbs lten of tWs mort~e. 6. He will pay all and siagulu the ooets, ebsrges, aad ea~penses, indudina ra~sonabb Lwyer'~ fees, ~ad ood~r ot ubatrscta oi title, incun~ed or paid st say time by the Mortg~aaee becauee oi tha fWure on the part of t6e Mort~gor pramptly snd fully to pedorm t6e a~reementa and oovenanLs of eaid promiaeory ~e and thia mort,g,sge,~ad aeud ooeta, c6srges. and expenees aba11 be immediately due aad psyable and ahaU be eecured by the lien oi tLis anort~ge. 7. Ha will oontinuoua~ msintain haaard insurancs, oi auch type or t~pes sad amounts as Mortgagee msy irom time to time reqnire, on Lhe improvements now or here~?tter on asid pninises and exoept when paymant !or all auch pnuuums has theretofore been made under oi psr,~grsFL a hereoi ~e ~vill pay pmmpWy whea due sny premiums therefor. All insursace shall be carri~ in oompanies sppmve~ by Mortqagee and the poli cies and renewals thereof aLaU be held by Mortgagee and bsve attscbed thereto loes psyable cfauses in isvor of aud in form acceptable to the Mort~a~ee. In event of lo~s he will give immediate notioe by mail to Mortgagee, and Mortgagee mey malce proof o3 Iosa ii not made promptly by Mortgagc?r, and esch u~sursnoe oompany ooncerned ia hereb suthoriaed uid directed to make paymen~ for such loee directly to Mortgsgee instead oi to Mortgagor snd ~ortgagee 'ointly ~ snd the insnrance proceeda, or any part thereof msy be spFZied by Mor~ gagee at ite optian eiLher to t~e reduction oi-the indebtedneas hereby eecured or t~o t~e reatonvoa or repsir of the property dama~ed. Ia event of forerlosure oi this mortgage or other transier of title to the mortgaged property in extingu~shmeat o! the indebisdnees eecured hereby, s31 righL, tiLle~ and interest of the Mortgagor in and to any insurance policies then in force ehsll p9ss to t6e purchaeer or grantee. 8. tf the preiuises, or un~ purt thereof, be condeuinecl under the power of eminent domnm, or acquirnd for a public use, tlm claniages awarctecl, tLe pra•ec~ls for tl~e taking ot, or the considerntion for sucl~ acquisition, to the extent af tl~e full a~i~ount of tl~e remaining unpaicl indebte~lness serurecl b~ !his ~~iortgage, arn hernb~• assigned to the ~lortgaKee. aud his h~irs or assiKtLS, und sl~ull tx~ paid forthwitl~ to said Mortgagee or his assignee to tx~ applied on ac~•ount uf the last niuturink i~~stall~uents of suc•h indebtedne~ss; providecl, 1?oNC~er~ the :~iortgu~e~ or I?is nssignee, ~i~ay at l~is discrnlion pa~- clire~•t to tlie Mortgngor,l?is 1?~irs or assigns an~ part or all of such aw~ard; provided, tLnt if the louu is Kuaruntc~ed or insurc~l, the consent o[ the guarantor or insurer is obtained in aclvance o[ said pa~•u~ent. 9. The Mortgagee may~ at any time pending a suit upon t6is mortgage, apply to the oonrt hsving juriedictioa thereof for the sppointment of s reeeiver. and suc6 oourt ahall forthwith appoint a reoeiver of the premieee aovered hereby all arid singular, including all and singular the income, profite, iesuea~ and r~venuea lrom ~vbstever eource derived, each and every of w6ich, it being expressly underatood, is hereby mortgaged ae if specifically eet forth and deecribed in the granting and habendum clsuaea hereoi. Such sppointment shall be made by such o~urt as un admitted equity and s matter of absolute righL to eaid Mortg,agee~ and without reference to the adequa~y or insdequacy of the value of the pmperty mortgaged or to tbe solvency or inaolvency of said Mortgagor or tae defendanta. Such , renta~ profite. inoome, iasues, aad r8venuea BhaU be applied by such receiver sooording to the lien oi this mo~tgage , and t.he practioe of such court. In the eveat of any default on the part of t6e Mortgngor 6ereunder~ the Mortgagor a~eee to pay to the Mo on deuwnd ae s reaeonable mont}ily rental for the premises e~a amount st lesat j equivalent to on~tweUt6 ( s) ot the aggregate of the twelve monthly inatallments psyable in the then current ~ year plua the actual amount oi the annual taxes, assessmente, wster ratea, and inauranee premiums for such year ~ not oovered by the aforessid monthlY PaYmente. E 10. In the event of any b*each of this mortgage or defsult on the ~ part of the Mortgagor! or in tLe evcnt that ~ sny of ssid auma of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the event thst each and every the stipulations, agreements, conditione~ and oovenanta of said note and this mortgage, ~ are not duly, prompdy~ and fully performed; then in either or sny such event~ the asid agg~egate aum mentaoned in esid note then remainin6 unpaid, with interest ~?ccrued to that time. and sll moneya eecured hereby, ahaU beaome due and psyable forthwith, or thereafter~ at the option of said Mortg,agee~ sa fully and oompletely ua if all of the eaid sums of money were orig~nally atipulated to be pai~ on such day, anything in said note or in this mortgage to the contrary notwithatandiag; and thereupon or thereafter. st the option of said Mortgagee, without notice ~r demand~ suit at law or in equit~, msy be prosecuted as if all moneya secured hereby had matured prior to ita inatitu- tion. The Mortgagee msy forecloee this mortgage~ a8 to the amount so declared due and paysble, and the said premiees ahsU be sold to satisfy and pay the saune together with costa, e:peneea, and allowancee. In case of partisl foreclosure of thia mort~age, the mortgaged premises shall be eold subject to the oontinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the pmvisiona of this.paragraph may again be uvWed of thereafter !mm time to time by the Mortgagee. 11. No waiver of any eovenant 6erein or of the obligation secured hereby ahall at any time thereafter be held to bea? waiver of the terms hereof or of the note eecured hereby. ~ 12. Tbe lien of thie inbtrument ehall remain in full force and eHect during any poetponement or extenaion of the time ot payment at the indebtedness or any part thereof eecured hereby. ~ 13. If the Mortgagor default in any of the oovenanta or agreemente contained herein, or in eaid note, then the ~ Mortgagee msy perform the same~ swd all e:penditures (including reseonable attorney's feea) made by the Mortga~ee ~ ia so doin shall dnw interest st the rate provided [or in the principal indebtednesa~ and shall be repayable ~ tLirty (30~ days a[ter demand, and, together with interest and costs accrued thereon, aht?Il be secured by ~ this mortgsge. _ ~ 14. Upon the request of the Mortgagee the Mortgagor shall eacecute and deliver s supplemental note or ~ notes for tbe sum or sums advanced Dy the titortgagee for the alteration, modernization, improvement, main- ~ tenance~ or repair of said premises. !or taxes or asgeasments against the same and for any other pur~wse author- ized hereunder. Said note or notes shsll be secured hereby on a parity with and as iully as if the advance evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear interes6 at the nte pravided for in t6e principal indebtedness end shell be paysble in s~ pproximatelq equal monthly psy ments for such period as msy be agreed upon by the creclitor and debtor. Fsil'wg to agree on the ~ msturity~ the whole of the sum or suma so advanced ahall be due and payable thirty (30) days after demend bq L6e creditor. In no event ahall the msturity eatend beyond tbe Wtitnate c~aturity of the note 5rst ~ deacribed above. ~ ;o~ ~~3 P~ 1763 - - _ _ . w e~- ._5 : _ ti_ . _ - e£~~~ c~z~_