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Home My WebLink About2732 ~nuuas w~nv i.avr~ rv u~ sa:curu~uce wuu u~e rovwwua o~ u~e no~e secu~ea llefl'U~ ~ ~uu a~ u~eni o~ ~~~e % entire indebtedneas repre~ented therebv~ ~he Mortgagee~ as trustee, shall~ in con~puting t!?e smount of auch : indebtedness, cre~lit, to U?e account, ot tl~e MortgeKor any cre~lit balance remaining under the provisious o( (e) ~ of said ~rsph Z. lt ll~e~+ el?all be s defaul~ uoder any of tf?e gmvieions of tiiis ~norlgs~e resulting in s public aale o t,he premiaea covered herebv, or if tl~e Mortgagre acquuea tl~e prope~ty otl~erw~sc+ atte~ cle[ault~ the Mortgagee, aa trustc~~ shell apply~ at the tinie of tihe commencement ot such proceedir?gs or at tLe time ~ ths property ie otherwise acyuireci~ the unount tl?e~ reu~aining to credil, o! Mortgagor under (a) of peragrepl~ 2 preceding ~s a crecli~ on the i~terear accrueJ a~d unpaid and tl~e balance to the principal then recE:aining unpAid on said notc. HO N~U ~~1 v~ f,uE~ i~@Di~, iN1~i~u[ a'ww:q L. ~ O~! ~o VeiDmEn~il Ot II111n1C1~ .,..~.a~w ~ ia~poeitions, for w6ic6 proviaion haa no~ beea m~is 6areinbefore, and in detault thereoi tbs Mort6a8~ ~Y PRY ~ ~s; and t6~L bs will promptly deliver tbs o@'iciat reoeipte t6enfor to t6e Mortg,sgea b. He pill permit, oommit, or suHer no ~raste, impairmeat~ or deteriorstion ot said proparty os any ~~art tbereot esoept reaaonabk ~vear and t~ear• and in tbe event ot tLe fatlure ot tbe Mortg,agor to keep the buil~ng~ oa ai~ premises sad those to be erecte~ oa asid premises~ or improvements t6ereon, in good repair fhe Mortg~egee uu?y malce sueh repairs aa in Its diseretion i~ muy deem neceeeary for t~he proper pe~esc.n?ation thereo~, sad tbe full amount of a~ch aad every sucb p~ymen~ shaU be due aad P~4Y~ ~Y ~ri ait~er demand, a~ s~hall be secured by t~6e lien of this mort~e. 6. Ha wil! gsy s~ ~4 t~se eoeta, and espensea, taciudina reaeonsbk lawyer's feos, aad eosts of sbstr:cts of title, incun~d or paid ati any tima by~e Mo din. rt6agee beceues of the failure on tLe part of the Mort~agor promptly and tul~y to pertorm the agreementa ~nd oovenanta of ssid promieeory note and t6is mortg,sge~ and aiud ooets, e6arges, and expenseen ahall be immeidistely due and peyable and s6sll be secured by the lien of thia mort~ge. 7. He will oontiauoue~y maintain 6sasrd insurance, of such type or t~pes snd amonnts as Mortgagee ms ~ fmm time to time require, on Lhe improvements now or here~iter on eaid premises and except w6en psymen~ tor ail aucb premiuma haa theretofore been made under (a) oi paragrapL 2 hereof ~e vvill pay prompWy when , due any premiums therefor. All insurance sh411 be canied in compsnies approve~ by I1iort,~a~ee and the poli- ; c,ies and renewals t6ereof shall be held by Mortgagee and hsve attached thereto loea psysble cI-ausee in iavor oi and in form scceptable to the Mortgagee. In svent oi loss he will give immediate notice by msil to Mortgsgee, aad vlortgagee may mske proof o3 Ioea ii not made promptly by Mortgngor, and each ineuranue oompany oonceraed ia hereby~ suthorized and directed to make paymen6 for such loes directly to Mor~~ u~stead of to Mortgagor sad Mortgagee joinWy, and the insurance prooeeds. or sny part thereoi may be spptied by Morw gagee at ite option either b the reduction oi tha indebt~edness hereby eecured or to tihe restontion or repair of the pmper~y deana~ed. In eventi of foreclosure ot this mortgage or other transfer oi title to tha mortgaged pmperty in eutingwahment of the indebtedness eecured hereby, a~l right, title, end interest oi tLe Mortgagor ~a and to any insurance policies then in force a6sll p~ssa to the purchasee or grantee. 8. If lhe premis~•s, or an~- purt t)~ereof, be rondetuned under tL~ power of en~inent~ domam, or acquirecl for a public use, tLe datna~;es awardecl, the pro~•eeds (or tlie taking ot, or the ~onsiderution for suc•L acyuisition, to the extent of tl~e full umount of the ren~aining unpai~l indebtedness sec•urnd b~• this morl~aKe, atr liercb~- f assiKne~1 to tl~e ~[ortgag~, un~l his heirs or ussi~ns, un~l sLuU tx• paid forthKiUi to suid ~1ortRager or his ~ assignee to ix• appli~d on a~rount o( thi~ last maturinK installiu~•nts of sueh ind~bteclrn~ss; provi~led, IioKe~•er, lhc ~iortguKe~ or his ussi~n~~c, iua~ ut Lis dis~•re~tion pu~• dirr~•t to thc ~lortgAgor, his li~i~s or assigns an~• part~ or all of such award; ptovul~l, that if the loan is Kuurunt~•~~d or insured, the consent of the guurantor or insurer ia obtained in advance of saic) pa~•~ueut. . The Mortgagee msy~ at any time pending a suit upon this mortg,age, apply to the court having juriediction thereof for the appoi~tment of a receiver, and such court ahall forthwith appoint a receiver of t6e pr~mieea oovered hereby all attd singular, including all and singular the income~ profite, iasuea, and revenues from whatever eourc8 derived, each and every of which~ it being expressly underatood~ ia hereby mortgaged sa if speci6cally eet forth and described in the granting and habendum clauaea hereof. Such appointment ahall be made by auch oourt ss an admitted equity and a matter of absotute right to said Mortgsgee, and without referenoe to the adequacy or inadequacy of ~ the vi?lue of the property morcgaged or to the solvency or insolvency of said Mortgagor or t~ae defendaats. Such ~ renta, profite. income~ issuee, sad reveaues ahsll be appUecl by such reoeiver acwording to the lien of this mortgage snd the practioe of auch oourt. In the event of any detault on thepart, of the Mortgagor hereunder, the Mortgagor ~ agrees to pay to the Mortgagee on demand sa a ressonable montbly rental for the premieee an amount at least i equivalent to on~-twelft6 (~s) of the aggregate of the t,~velve montWy installments payable in the then curnent ~ year plua the actuat amouni of the annual ta~cea, sssesameate, ~vater rates, and insuranoe premiuma for auch year not covered by t6e afore$sid monthly psymente. ~ ' 10. In the event of any bzeach of thia mortgage or defanlt on the of the Mo _ ~ aay of said sums of mone herein referred to be not rom tl and full ~ ~~°ri or in the event thst ~ Y p p y y paid according to the tenor hereof or in the ~ evenL that esch and every the etipulations~ agreemente, conditions, and oovenanta of said note and t6is mortgage ! are not duly, promptly~ and fully pedormed; then in either or any such eveat, the eaid aggregate sum mentioned ~ ~ in aaid note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall beoome = f due and psyable forthwith, or thereafter, at the option oi said Mortg,agee, as fully sad completely se if all of the i ~ eaid eua~e of money wert origtnally stipulated to be paid on such dsy, anyLhing in said note or in this mortgage to } the contrary notwithatanding; and thereupon or thereafter~ at the option of said Mortgagee, without notice ar ; demand~ suit at law or in equity~ msy be proeecuted as it all moneys secured hereby had matured prior to its institu- ; tion. The Mortgagee may foreclose this mortgage~ as to the amount e~ declared due and payable, and the eaid ' premiees sball be sold to satisfy and pay the same together with oosts~ expeneee, and allowances. In caee of partial ~ forecloeure of thie mortgage~ the mortgaged premises shall be sold subject to the oontinuing lien of this mortgage for the amount of the debt not then due and unpaid. In auch c~se the pmviaiona of thie paragraph may again be ~ svailed of L6ereafter from time to ti~qe by the Mortgsgee. 1 l. No waiver of any covenant herein or of the obligation secured hereby ahall ut any time ther~after be held a to be s w+aiver of the tcrms hereof or of the note secured hereby. ~ 12. The lien of t6is inbtrument shall remain in full force and eHect during sny poatponement or extenaion of ~ the time of payment of t~he indebtecineas or any psrt thereof eecue+ed bereby. ~ 13. If the Mortgagor default in any of the covenante or agreements oontained herein, or in esid note, then the ~ litortgagee msy perform t6e eame, snd all expendiLuree (including reaeonable attorney'e fces) made by the MortgaRee ~ in so do~ng shall draw incereat a~ the rate provided tor in the principsl indebtednesa, and shall be repayable ~ thirCy (30) days aiter demand~ and, together with intsrest and costs acerued thereon, shait be secured by c thie mortgage. ~ 14. Upon tbe request of the ~Iortgagee the Mortgagor shal) eaecute and deliver a supplemental note or ~ notes for the sum or sums advancecl by the ~fortgagee for the alteration~ modernization~ improvement, main- ~ ten~nce, or repair of said premises, for taxes or as.Qessments against the same and for any other purpose aulhor- ized hereunder. Ssid note or notes shsl) be secured hereby on a parity with and ss fully as d the advance ~ evidenced thereby were included in the note firal described above. Said supplemental note or notes shell bear ~ int~ereat at the nte provided for in che principal indebtedness and shall bep ~yable in ap pro~imately equal monthly payments for such period ss may be a~reed upon by the creditor end debtor. Failing to agree on the ~ msturity, the whole of the sum or sums so advanced shall be due and papable thirty (30) dsya after demand by t6e creditor. In no event a6a11 the msturity extend beyond the ultimate r.~atwity of the note &rst ~ described above. ~ • ~ ~0~~~43 ~~~E2?3? ~ ~ . ~ ~ ~ - ~ ` ~ ~ : ~ - - - ~ , -