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Home My WebLink About0695 . ~ . S~~ tender ~to the 'Mortgagee in 4ccorcianrs witl~ tho provisions o~ ~he note aecured hereby, full pa~ u~ent ot the entire it?debtednesa repre$en~ed thereby. lhe I~Iortgagee, as ~ruste~+, ahall~ in coniputing tl?r amount ot auch indebtednese~ creciit to tl~e account of tt?e NortgaRor any credil Lslance remau~ing uuder the provisions oI (e) oi a~id p rsph 2. lf lhen+ shaU be • detault u~der any ot tlie provisioi?s ot tt?is u~ortgs~e resulting in e public sal~ the premises covered hereby. or it ll?e Mortgsgee acquu~ea tlie propeny ott~erwise a[ter d~fault~ the Mottgagee~ aa tcuatee~ shall apply~ ~l the time of tha canmencernent ot sueh proceeciinge or at tl~e time the property ~s otherwise acquired. the amount then re~asining to credit of Mortg~gor under (s) ot paragrn?ph 2 preceding as ~ credit on the intereat accrued and unpaid and the balance to the principal t!?en re~naining unps~d on said note. 4. He wlU pay all ta?:es„ aesoasmeata, wster rates, snd otbes~overnmental os muaicipal c6argas„ fin~er, ot impoeitions, for which proviaion Laa not beea msde hereinbetors, and in detault thereo~t t~he Mort6+~6~ ~Y P~ ~ ~aae; ~nd tL~t ba will promptU? ddiver t,6s o~cial reoeipts therefor to the Mortg~gee. a. 8e will parmit, oommit, or su6er ao w~ate~ imp~irme~t~ ar det~erlore?tion ot said ~oPertY or m thereof esoept rees~nsbk ~r snd tear• und in the event oi tbe f~ilure of the Mortg~gor tio keep tbe bui~ on sai~ pnmises aad those to be erect~e~ on s~id premi~ee„ oe improvements thereon, in good repair the Mortg,sgee may maice sucb np~?i:s ~s in iis discreiion i~ may deem neeeeeary tor fhe P~P~ Frexrva=ion ibereo~, aad the fuU amount of each and evety aucL p~yment ~6all be due and W1Ysbk t6~rfs~? (30) daya dt~er demaad~ aad s6sU be secured by ths liea ot tLis mortaa~e. a. He will pay all sad sinaulu t6e eoets, and eo~pensos, including raieonable Lwyer's teee, and oostr ot sbstncts of title. incurred or paid ~t aay time by Mortgsgee becauee of tha fWure on the part of tLe Mo~r promptly end fully to pertorm the agceemente and oovenants of eaid promiesory note sad thia. mort~e , an aad ~ ooste, chargea and expeneee ehall be immediately due aad psyable and shall be secured by the lien of tbie mort~age. 7. He aill oontinuoualy maintaia haa4rd inswrance, oi euch typs or types ~nd amounta as Mortgsgee ma~ trom Lima to time require, on the improvementa now or hereatter on eaid premises and exoept when psyment tor all such premiums has Lheretofore been made under (a) of psrag~sFh a hereof '~e will psy promp~,~y whea due any premiums therefor. All insurance ahall be c~rried in oompswes appmve~ by I~lortgagee snd t6e poli- cies and renewals thereof shall be held by Mortgagee snd hsve sttached thereto lo~s psysble cTsusea in fsvor oi and in form acceptable to tbe Mortgagee. In event oi losa he will give immediate notice by mail to Mortgagee, aad Mortgagee may make prooi of to~s ii no~ made promptly by MoMgagor~ and eac6 insuraaoe oompany ooncerned ia hereby~ suthoriaed and directed to make payment ior such loes directly to Mortqa~ee inatead of to Mortgagor aad Mortgagee ointly ~ and the inaurance proceeds. or ~ny part thereof may be app~ied by Mor~ ~agee st its option either to ~e reduction oi the indebtednees hereby eecured or to t~e nstontion or repair of We pmperty dame~ed. In event of foreclasure of this mortgsge or other transter oi title to the mortgs~ed properLy in eutinguishment oi the indebtednees secured hereby, af I right, tatle~ snd intereet oi the Mortgagor m and to any inaurance policiee tben in force shsll pnsa to the purchaser or grentee. 8. If U?e pmtuise~s, or unr purt tLercwf, be condeu~necl under Uie power of en~inent• do~uain, or acquirnd [or a public use, tlie demages aviarcled, tlie proc•eeds for ti~e taking of, or the ~onsidemtion for sucl~ acquisition, to tl~e extent of tl~e full nn?ount of tl~e remaining unpaid indeLt~~lncss sc~c•urecl ~b~• this ~uortgsKe, arn }iercb~• ass'igned to ilie ~lortga~ee, un~l his h~irs or assi~ns, un~! s6u11 tx~ pui~C fortLw~ith to said ~iortga~ec or }iis ~ assignee to t~ applied on acrouut ot the~ lust maturinK iustallnu•nts of su~•h ind~btedness; pm~ide~l, 1io~rver, the ~1ort~uKee or his assigncr, wu~ at liis ~lisi•retion pn~• dir~•~•t to the ViortgAKor, Lis heies or assigns an~ parl or al) of such aKard; provided. ihat i[ the loan is Kuarante~•d or insurncl, the c•onsent of the guurantor or insurnr is obtained in advance o[ said par~nent. The Mortgagee may, st any time pending a auit upon this mortg,age, spply to We oourt having juriadiction t6ereof for the appointment of s receiver, and such oourt shall forthwith appoint a reoeiver of the premiees oovered Dereby all aud singular, including all and aingular the income, profite, iesuea, and revenuea from whatever aouroe derived, eac6 and every o[ which~ it being expressly underatood, ia hereby mortgaged sa J speciScally set fort6 and deectibed in t6e granting and habendum clsusea hereof. $uch appointment ahall be m~ade by such oourt aa an admitted equity and a matter of sb~olute right to aaid Mortgagee, and ~vithout reference to the adequacy or inadequacy of the vslue of the property mottgaged or to the a~lvency or insolvency of said Mortgagor or t'~e defendanta Such rents~ profite. inoome~ issuea, and revenuea shall be applied by euch receiver aooording to the lien of thia mortgage • aad the practice of such oourt. In tbe event of any default on the part of tbe Mortgagor her~under, the Mortgsgor ag~eea to pay to the Mortg,agee on demand aa a reasonabte mont~ily rentsl for the premiaea an amount at lesat equivalent to onc-tweUth (~s) of the aggregate of the twelve moathly inatallmenta psyable in the then current year plus the actual amount ot the annual taaes, saeeasmente, water rates, and insuranoe premiums for auch year II aot oovered by the sforeaaid monthly psyments. 10. In t6e event of any b*each ot this mortgage or default on the p~rt of the Mortgsgor, or in the evet~t thst any of eaid eum,e ot money herein refere~ed to be not promptly and lully paid accordu~g to the tenor hereof, or in the event that each and every the etipulations, agreements, oonditione, and oovenants oi asid note and this mortgage~ are not duly, promptly, and ttilly performed; then-in either or any such event~ the said sggregate sum mentioned in eaid note thea remsining unpaid, with interest accrued to that time~ and aU moneya secured hereby, ahall beoome dne and psyabk forthwith, or thereafter~ at the option of said Mortgagee, as fully and completely ae if all of the said suaRa d money ~rere ori~nally stipulated to be paid on such day, anyt6ing in said note or in thia mortgage to the contrary notwithstsnding; aad thereupon or theresiter, at the option of said Moctgagee, without notice or demand, suit at law or in equity, mey be pro~ecuted as if all moneys aecured 6ereby had matured prior to its institu- tion. The Mortgagee may forecloee tbis mortgage, aa to the smount eo declare~ due and payable, and the said premiees shall be eold to sntisfy and pay the same together wit6 oosta, expenses, and allowanoes. In case of partid forecloeure of this mortgage~ the mortgaged premises ahall be sold aubject to the uontinuing lien of this mortga~e for the amount of the debt not then due and unpaid. In such caee the provisiona of thia paragraph may again be sviWed of tbereaiter tmm time to time by t6e biortgagee. I 1. No waiver of eny oovenant herein or of the obUgation eecured hereby ahall at aay time thereafter be held to be s~vaiver of the terme hereof or ot tbe note eecured 6ereby. . 12, The lien of this instrument ehall remain in Iull force and eBect during any postponement or extension ot the time of psyment of the indebtedneee or any psrt thereof eecured hereby. 13. If the Mortgagor defsult in any of the oovenants or agreementa contsined 6eeein, or in eaid note, then the Mortgagee may per(orm the eame, snd all ezpenditurea (including reasunable attorney'e feea) made by the Moriga~ee in so doin shall dnw interest at the rste provided for in the principal indebtedness, and shall be repsyable thirty (30~ days attet demand, snd, together with interest and costs accrued thereon, shall be secured by t,his mortgage. 14. Upon the request of the Mort~agee the btortgagor shall eaecute and deliver a supplemental note or notes tor tbe sum or sums advanced Dy t6e tilortgagee for the alteration, modernizstion, improvement. main- tensnce, or repair oi said premises, tor taxes or n~essments against the same and for any other purpose author- ized heteunder. Said note or notea shap be secured hereby on s parity wif.h and as fully as ~t the advance evidenced thereby wero included in the note firat described above. Said snpplementsl note or notes shall besr intRrest s6 the nte provided for in the principal indebtedness and aball be psyable in sp proximately equal mon~hly psy ments for such period as may be agreed upon bp the creditor and debtor. Fail'uig to agree on the maturity, the whole oi t.he sum or sums ~ advanced shall be duQ and psyeble thirty (30) dsya after demand by tha creditor. In no event ahalt the maturity extead beyond the ultimate ra~turity ot c6e note 6ist described above. 60~ 244 ~~E 695 ~ ; - . - . : i ~ -~.~.y~.~~~.~~.~~_~~:~. . -