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Home My WebLink About2667 tender lo the Mortgagee i~ ~cconlonce witli tlia provisioua o( U~e notc secu~ed lien~b~~ full ps~ment o( tl?e entire indebted~ess represen~ed therebv~ the Mortgsgee~ us trus~eu, ahall, in co~uputing Ihe ~?~uount ot auch indebtednees~ creiiit to tlie account of the Mortgagor any cred~6 balsnce remsining under the provisioua of (s) of soid ~raph Z. !f lhere aliall be t det~ult u~der any ot the provisious ot this ~nortga~e reaulting in • public sale o lhe premiace covered t~ereby~ or i[ the Mortgagee scquu~ea the propen,y otl~erw~ae atter default. the Mortgagee~ ~8 trusl,ee~ ahall spply~ st the time ot the can~nenceme~t o[ auch proceedings or at tlie time the property is o~herwise scquirecl~ the unount then rem~inin~ to credit ot Mortgagor under (s) ot paragnpl~ 2 preceding ss a credit on the interest sccrued and unpaid and t ~e balance to the principal then remaintng unpud oa said note. - - 4. He wlll p?y all taxa, aaeeeemeut~, wuLer rut~es. ~nd otbsr~o verameatal oe munieip~l e6ar~es~ Sne~ ~ impodtio~ tor whie6 provision !us not been made 6ereinbetors, ~nd In detault thereoi ths MortiaL~ ~3? P~Y ~ ~ams; and thu! 6e will promptly delives t6e o~cial noejpte L6eretot to tbe Morta,~gee. b. He ~rill parmiL~ oommit, os suHer no waste, Lnpairment os deterior~?Uon ot said property ar any ~~?rt thet~eot e~coept nasenabb wear snd t~ear; and in tbe event ot Lbe fai~ure of the Mortgy~or to ]ceep the build~ag~ oa sai~ premises and thoee to be erected oa e~id premises. or improvemeats t6ereon, ia good repair the Mort8~8~ ~Y make sueh npaira as in ita disonuoa it may doem neoeeeasy for theproper preecrvstion t6ereo~~ ~nd the full ~ua! ot eaeb sad every such p~ymeat ehall be due aod p~ysbb th~r~y (30) dsys Jt~er demand. aad shsll bs secured by the lkn ot tliis mort~e. - 6. He will psy a11 aad ein6ulsr the ooets~ ebsrges, aad espensea includin6 reason~bk lswyer's feoe, aad oosta of abstracta ot title, Ineurred or pe?id st any time by tbe Mortg~sgee becauee of the lailure on the part ot the Mort~saor he r~sge promp~ly and f Lo perform the a~reemente and oovensnts of said promieeory note ~nd thia mo ,~nd sad oosts, charges, expeneea BhaU be immediately due aad pe?ysble snd ahsll be secured by the lien of this mortg~ege. 7. Ha wiii oontinuoua~y msintsin bazard i~ursnoe, of suc6 ~ype or t~rpes anci smounta as Mortgagee msy tmm Lime to time reqnire, on Lhe itnprovements now or Lere~?iter on ssid premises snd eacept when psyment tor all such premiums haa theretoiore been mada under (a oi psra~grs,ph 2 hereof ~e will pay promptly when due sny premiums thorefo~. All insuranoe a6aU be ia compsrues approve~ by I~1ort~a~~ and the poli- cies aad renewale t6ereof s6sU be held by Mortgages and h4ve attached thereto loss psysble-crsusee in favor oi and in form acceptable to the Mort$agee. In event of loss he will give immediate natice by mail to Mortgsgee, •nd Mortgagee may meke prooi o3 Io~ it no~ made promptly by Mortgagor, and each insurance company ooncerned ia 6ereby authorized and directed to make psymen~ for such loea directly to MoM~a~~ instead of to Mortgagor sad Mortgagee jointly, and the insurance proceeda, or my part tbereof may be aprp7ied by Mortr gagee at ita option eit6er to t6e reduction oi tha indebtednees hereby eecured or b t'6e restor~?4on or repair of the pmperty dama~ed. In event oi foreclosure oi thia mortgage or other transfer of title to We mortgaged pmperty in extingwahmeat of the indebtedneas eecured hereby, a~l right, title. and interest of tbe Mortgagor m snd to any insurance policiee t~hen in force s6all pASa to the purchaser or grantee. 8. If the pre~ui~~~s, or anr purt thereof. be roncle~uuecl w?der Uie power of eminent cloma~n, or acquired [or a public use, tlie dau~ap,es awarcied, tlie pra~eccls ~or tl~e taking ot, or the ~onsicierntion [or sucl~ acquisition, to ; tl~e extent of tl~e full a~nount of the remaining unpaid indebte~lness sec•ured br tl~is ~uortgage~ arn liernb~• ~ ~ssigned to the Mortgagee, and his 1?eirs or ussi~ns, ami shu11 tx~ paid forthwitte to saicl 141ortgagee or his ~ iusignee to be appliecl on ec••n~l~it of th~ last n~uturing iustallmeuts of sucl~ indebtedness; provideci, however, ~ the 1~ort~a~ee or }~is ossignee, u~a~• nt his dis~•rt~tio~~ pa~• clire~•t to the Vlortgugor, Lis'1?eirs or us.signs an~• part~ ~ or all of sucl~ avrar~i; pro~idecl, thnt if the loan is Kuuranteed or insured, the cons~nt of the guarantur or insurer is obtained in advance of said pa~•~itieitit. 9• The Mortgagee may, at any time pending a suit upon this mortgage, apply to the oourt heviag juriedietioa thereof for the appointment of a receiver, and such court shall lorthwith appoint a receiver of the premises oovered hereby all a~d singular~ including all and singular the income, pm6ts, iesues, and revenues fmm wha«tever eouroe derived, each and every of which~ it being expreasly understood, ia hereby mortgaged sa if apecificslly set forth and described in the granting and habendum clausea hereof. Such appointment ahall be made by such oourt as an edmitted equity and s matter of absolute right to said Mortgagee, snd without referenee to the adequacy or inadequacy u; Lhe value of the pmperty mortgaged or to the eolvency or insolvency of aaid Mortg,agor or the defeadanta. $uch rents~ pro6te. ineome~ iasues. and revenues s6a11 be applied by such receiver aooording to the lien of this mortgage aad the practioe of such oourt. In t6e event of any default on the psrt of t6e Mortg,agor hereunder~ the Mortgagor a~ees to psy to the Mo on demand as s reasonable monthly rental for the premiees an amount st least equivalent to one-twelit6~ of t6e aggre,~ate of the twelve monthly installmente psyable in the then curre.nt ' year plus the actual smount of the an.nual ta~ces, sse~mente, w~ter ratea„ and insuranoe premiume for guch year ' not oovered by t6e atoresaid montWy psyments. i 10. In the event of i?ny b*each of this mortgage or defa~ilt on the part of t6e Mortgagor~ or in the eve~t thst I any of said euma oi money herein referred to be not promptly and tully paid acr,ording to the tenor hereof~ or in t6e ~ event that each and every the atipulations, agreemente, conditione, and uovensnts of said note and this mortgage~ ; are not duly, promptly~ and fully performed; then in either or any such event, the esid aggregate sum mentioned i in eaid note then remaining unpaid, ~vith interest accrued to that time~ and all moneys aecured hereby~ shaU beaome ~ due snd psyable forthaith, or thereafter, at the option of said 111ortgagee, ss fully and oompletely ,as if sU of the . ~ eaid suma of money were ori~nally stipulated to be paid on such dsy, anyLhing in said note or in this mortgageto the contrary notwithstanding; and thereupon or thereafter. at the option of said Mortgagee~ without notice ~s ~ demand, swt at Iaw or in equity, may be prosecuted sa if all moneya secured hereby had matured prior to ite inatitu- , tion. The Mortgagee may forecloee this mortgage~ as to t6e amount eo declared due sad payable, and the said ~ premiees stu?ll be eold to eatisfy and psy the same together with costa, e:penaes, and allowances. In esee of partisl forecloaur~ of thia mortg,age, the mortgaged premises shall be eold eubject to t6e continuing lien of this mortgage ~ for the amount of the debt not then due snd unpaid. In sucb case t6e provisions of thia paragraph may again be svailed of ther~after from time to time by the Mortgagee. ~ 1 l. No wsiver of sny eovenant herein or of the obUgation aecured hereby ahall st any time thereafter be held ~ to be a waiver of the terma hereof or of the note eecured herEby. ~ 12. The lien of t6is inbcrument s6a11 remain in full force and e6ect during any poatponement or extenaion of ~ the time of payment of tbe indebtedneee or any psrt thereof eecured hereby. ~ 13. If t6e Mortgsgor default in any of the covenante or age~eemente contained herein, or in eaid note, then tha ' Mortgagee mey perform the same, and all eacpenditures (including reasonable attorney's fees) made by the Mortgagee ~ in eo doin shall draw interest at the rate pmvided (or in the principal indebtedness, and shall be rnpsyable ~ ; t6irty (30~ days atter demand, aad, together with interest and costs accrued thereon, ahall be secured by ~ ~ thie mortgage. ~ ~ 14. Upon the request of the Mortgagee the Mortgagor shall ea~ecute and deliver a supplemental note or ~ { ~ notes for the sum or sums advanced by the :ltortgagee for the alteration, modernization, improvcment, main- I tenance, or repair of said premises, !or taxes or asaessments against the same and tor any other pur{wse author- ~ ized hereunder. Said note or notes shall be secured hereby on s parity with and as fully as it the advance ~ evidenced thereby were included in the note firat described above. Said supplemental note or notes shall besr interest st the nte pmvided tor in the principel indebtedness and shall be payable in approximately equsl ~ monthly psy ments for such period as may be agreed upon by the creditor and debtor. Fail'ing to agree on the mstnrity, the wbole ot the sum or sums so advanced shall be due and psyable thirty (30) days after demand ~ by t6e creditor. In no event s6all the maturity extend beyond the ultimate rsaturity o! the AALC Sl'SC ~ described abova. 60~K PACE ~66~ ~~a - . i~:E~~ `Iv a -~'p.z -~:3