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Home My WebLink About0382 . # ~ lender to the :~iurtgagee in accordance with thc+ provisions of tli~• note si•~•ur~~d hrrrb~•, (ull parin~~nt of the entire indebtednesa represen~ed ti~erebv, th~ ~14orlgagee, aa tru,~t~~e, ~liall, in con~putii~~ tbP a~uount o( such indeblednesa, credit to the account of t3?e I~~o~'tgegor an~ eredit balance ren?ainin~; un~l~~r th~ pmvisions of (a) of asid psregrapl? 2. I! there shall bc a defaul! under an~• ot th~~ provisia~s o( this mortga~;~ resulti~iK in a public at~le of the pnmisrs covered herebl•, or it Uie Mortgage~ acquuea the pniperty otherH•4,e aft~•r default, the Mortgsgee, as truatee, ahall appl~~, at the timc of th~ co~ninenceinenl of such proc~cxlinga or at th~ tiin~~ M~ u ' the propert~ is otherwise scquired, the aniount then remainin to credit of A4ortKsgor under (e) of paru~raph 2 preceding aa a credit on the interest aceruecl and unpaid and t~e balenre to the principsl then rnmainin~? unpaul : on said note. ' P4y ~?ll Leu~ee, s?eeeesmeate„ wster rst~es~ and other governmenta! or munici 4. He wiU P~ a~B~. ~ os ~ ? impoa~tione, for whie6 provis~qn has not been msde hereinbefore~ snd in default tt?ereof the Mort~agee msy psy the ~ eame; and thst he will promptly deltver the official reoeipt~ therefor to the Mortgagee. ~ b. He will permit, oommit~ or auQe~so~atei impairment~ or deterioration of said property or aqy ~ o e~f~ ~ e~ccept reaeonsble wear and tear; end ia- tXie~ event i1f Ohe f~ilure of the Mortgagor to keep the buil premieee and thaee to be erected on eaid premiees~ or lmprovements thereon, in good repair~ the Mortgagee me?y ~ make such repe?irs sa in ite dIecretion it msy deem neoee6ary for We praper prceervation thereof, and the tull amo~nt ~ of each and every euch psyment shall be due aud p?ye?ble t6~rty (30) dsye after demand, aad ehall be eecund by { the lien of this mortgage. 6. He ~?ill pay all and eingulsr the coete, chsrgee, and ezpeneee, including reasonable lawyer'e feee, and casts of abstr~cts of title, incurred or paid st any time by the Mortgagee becauee of the failure on the part of the Mortgagor promptly and fully to periprm t.~e agreements and oovenante of eaid pmmiseory note and thia mortgage~ and said ooste, chargee, and expenses shall be immediately due and payable and ehall be eecure~ by the lien of thia mortgage. ; 7. He will ountinuous~y maintsin hszsrd inaurance, of such type or typee snd amounts as Mortgagee may irom time to time require, on the improvemente now or hereafter on eaid premises and eacept whea pnyment ~ tor all such premiums hes theretofore been made under (s) of psragraph 2 hereof ~?e will pay pmmpWy when ; due any premiuma thcrefor. All insurance shall be carried in companies appmvec~ by 11io~ee and the poli- cies and renewals thereof ahall be held by Mortgagee and have attsched tLereto losa payable c auses in fsvor of and in focm acceptable to the Mortga~ee. In event of loss he will give immediete notice by mail to Mortgagee, ~e~a 11Rnr+~w~s ~on ma~ru nn~r?f nE nao ~f nn+ tnw~A nr+mm~tlq hv M~rtoa~r~r. an~i RA/`.~I li1AlITHRAA fY1T1111AnV uoncemedis hereb y~~ authonzed and directed to makle peyment for such lo~s directly to Mo~ee inatead of ~ to Mortg.agor and Mortgagee jointly, and the insurance proc~eeds, or eny part thereof, may be app 'ed by Mor~ gagee at its option either to tbe reduction of the indebtedness hereby eecured or to the restorat~on or repair of the property dama&ed. In event of foreclosure of thia mortgage or otLer transier of title to the mortgaged = property in extingu~shment oi the indebtedness secured hereby, a~l right, title, and intereat ot the Mortgagor m and to any insurance policies then in force ahall pass to the purcha9er or grantee. R. If tl~e pre~uises, or an~ part lLernof, tx~ condemned uncier the power of eminent clo~uain, or ac•quired (or a public use, Uie damages awanied, tl~e pror~eds for tli~ takin~ of, or the consideration for suc•h a~qu~sitiou, to ~ the e~tent of tLe full an~ount of the reniaining unpaid ind~btedness securnd b~• this inortgs~?~~, arn li~rnb~- nssi~ned to th~~ ~tortgagee, and his {~eirs or assigiis, anii sliall b•_~ paid forthw•ith to suid '~1c,rt~a~;~~ or liis ~ assi~nee to tx~ applied an ac~ount o( the last maturing install~i~ents of sucl? indeUteclness; pro~i~led, liowe~er, tl~e ~tortgage~ or his nssignee, ma3 at his disc•retion pa~• dire~t to th~ ~Zortgagor, l~is hei~ or nssigns An~ past or alt of such aH-ard; pto~i~led, that if the loun is guaranteed or insured, tt?c~ consent o[ ttie gunrantor or insur~r is obtained in ad~ance of said pa~ment. The Mortgagee may, at any time pending a suit upon this mortgage, apply to the oourt having juriadiction thereof for the appointment of a receiver, and such court shaU forthwith appoint a receiver of t6e premises oovered her~by all arid singular, including all and singular the income~ profits, iasues, snd revenues from whatever source derived, each and every of which~ it being expressly understood~ is hereby mortgaged as if apecifically aet forth and described in the granting and habendum clsuses hereof. Such appointment ahall be made by such oourt as an admitted equity and a mutter of absolute right to said Mortgagee~ and without reference to the adequacy or inadequacy of _ the value of the property mortgaged or to the ~olvenq or inaolvency of esid Mortgagor or the defendants. Such rents, profita, income, is4ues, aad revenues ahall be applied by such reoeiver according to the lien of this mortgage ' and the practice of such court. In the event of any default on the part of the Mortgagor hereunder, the Mortgagor ~ agrees.to pay to the 11'Iortgagee on demand a8 a reasonable monthly rental for the premiees an amount at least equivalent to on~twelfth (~Z) of the aggregatie of the twelve monthly installmenta p~yable in the then current ~ year plua the actual amount of the anni?a~"taiea, aseessments, water rates, and ineurance premiums for such year i not covered by the aforesaid monthly paymenta ~ 10. In the event of any breach of this mortgage or default on the pait of the Mortgagor~ or in the event that ~ any of said eums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in t6e event that eacb and every_ the atipulations~ agreements, conditions~ and oovenants of said note and t6is mortgage, are not duly, promptly, and fully performed; then in either or an~~ such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys eecured hereby~ shall become due aad payable forthwith~ or thereafter~ at the option of said Mortgagee. as fully and completely as if all of the ~ said sums of money vrere originally stipulated to be paid on suah day~, anything in said note or in this mortgsge to the contrary aotwithstanding; 8ad thereupon or thereafter, at the option of said Mortgagce, without notice or ~ demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had matured prior to its institu- ~ tion. The Diortgagee may foreclose this mortgage~ ss ta the amount so declared due and payable, and the said pmmises ahall be sold to satisfy and pay the same together aith costs, expenses, and allowances. In case of partial „ forecloswe of this mortgage, the mortgaged premisea ahall be sold subject to the oontinuing lien of this mortgage ~ ~ for the amount of the debt not then due and unpaid. In suc6 case the pmvisions of this paragraph may again be ' ~ availed of thereafter from time to time by the Aiortgagee. 11. No waiver of any oovenant herein or of the obligation secured hereby shall at any tia~e thereafter be held ~ ~ to be a waiver of the terms hereof or of the note secured hereby. t ~ 1'?_ The lien of thia instrument ahall remain in full force and effect during any postponement or extension of ~ ~ the time of payment of the indebtedneas or any part ther~of eecured hereby. ~ 1:3. If the Mortgagor default in any of the covenanta or agrE.~ements oontained herein, oc in said note, then the ~ t ~ Mortgagee may perform the same, and all expenditures (including reaeonable attorney's fees) made by the Mortgagee ~ in so doing shalt draw interest at the rate pro~ ided for in the principnl indebt~dnc~ss, and shall be mpat able thirt~~ (30) da~•s after demand, and, together with interest and costs accrued thereon, shall be secured by ~ this mortgage. ~ 14. Upon the request ot the l~iortgagee the Mortgagor shall eacecute and deliver s s~epplemental note or t ~ notes for the sum or sums advanced by the ltort,gagee for the alterstion, modernization, improvcment, main- ~ tenance, or repair of said premises, for taxes or asscssmcnts against the same and~ for any othcr purposc author- - ~ ized hereunder. Said note or notes shall be secured hereby on a pariLy with and as fully as if the advance ; evidenc~ thereby were included in the note first described abo~ e. Said supplemental note or notes si~all bear ~ ~ iaterest st t6e rate provided for in the principal indebtedness and shall be payable in approximately equal ~ monthly pa}•ments for such period ss may be agreed upon by the creditor and debtor. Failiag to agree on the ' maturity, the whole o( the sum or sums so ad~anced shall bc due and pa~•ablc thirty (30) days a[tcr clemnnd ~ by the crcditor. In no event s6a11 t6e maturity extend beyond the ultimate ~~aturii,y of tt~c note first_ ~ described ebove. ~ saoK ~44 PACE 382 ~ - - - ~r: :"l:~„~ . _ _ . ' *~~r~~-~~ _