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Home My WebLink About0867 ~ tender lo the 1NortgagNe in acconlanee witl~ the p~ovisio~?s ot the not~ xecu~ed 1?ernL~•, full pa~ ine~t ot the ' entire indebted~ess repn~rnted therebv. the Mortgu~ee, us truatee, al?ull, iR con~Nuting the amount of aucli ~ indebteJt~ess~ credit to tl?e uccount of tlie rlottgegor any credit Lalance reinaininR un~l~r tlie provisions of (a) f oi said paragrsph 2. !f there shell t?e s default under arh of the provisions of this ?uortga~+ resulting in a ~ public aale ot the premisE~s covered I~ereby, or it the Mortgagre acquires the property otherw~se after defeult, ~ the Mortgsgee~ as trustee~ shaU apply~ et the tinie of the commencement of such proceedinga or at the time ~ the propeM,y ~s otherwise iu•quireci. ihe amou~t tl~en reu~aining ro crrclit of MortKagor under (s) oI para~;rapl~ 2 preceding aa a credit o~~ the interest acerued and unp~id end tl?e balance to lhe principal then remaining unpaid h on said note. ~ . 4. He will p~y wlt taxee, asee~emeats, wster rstes, wd other governmeatal or municipal ehsrgea, fin~es, or ~ impoeitione, for which proviaiaa hae not been mada bereinbetore~ and in detault thereof the Mortgagee msy puy t,be ~e; snd tbs~ bs will promptly deliver t6e og'iciAl reeeipta theretor to We Mortgagee. - b. He ~vill permit, oommit, or suBer no waa~e. iu4pairmenf, or detertoration of eaid pmperty or anp par~ thereof ~ eacep~ reaeonabk wear and tear; sad in the event of tha failure of the Mortgagor to keep the building~ on eai~ premiees aod thoee to be erected on ssid premiees, or improvements thereon, in good repair the Mortgagee may ~ make such repsiia ae in its discretion it msy deem ne~eary for the proper preecrve?tion thereo~~ and the iull amount of eac6 sad every euch psyment a6all be due aad p~,ysbb thirty (30) days Jter demand~ sad ahs11 be eecured by tbe lien ot this mortgu~e. 6. He will psy sll ~?nd singular the ooets, c~~, snd e~cpeneee, including reseonable lswyer'a feee, and oosts ~ ot abetracts of title, incurred or psid st any time by tFie -Mortgagee becsuee of the fsilure on the part of the Mortgagor promptly and fully to pedorm tbe agreements and covenanta of esid promieeory note end thia mortgage, and said ooeta, cbarges, and expenees ahaU be immediately due aad paysble and ehsU be eecured by the lien of this mort~age. 7. He will oontinuoualy maintain hazard insurance, oi eucb type or types and amounta ae Mortgagee may irom time Lo time require, on the impmvemente now or hereafter on said premises and eaoep6 when payment tor all such premiums has t6eretofore been msde under (a) of parag~aph 2 hereof 'he will pay prompt1y when f due any premiums thcrefor. All insurance shsll be carried in companies spprove~ by 1liortgagee and the poli- cies and renewals thereof shall be held by Mortgagee and bave attached thereto loss payable clauses in isvor of and in form acceptable to the Mortgagee. In event of lass he will give immediete notice by mail to Mortgagee, and Mortgagee may meke proof of Ioes if not made promptly by Mo`rtgagor, an?d1 each insurance oompany W131:Cf11Ct1 t3 I1GICi7 $(SLI3UC3"L~ll ti21(1 (tlf"lSl;l~C~ W 11ItiSiS ~7n-I-11CU4 llJi~ S~IL'U 3USS L1If~Cl;~.ly ZU iYlUT4~u~ 8~6 1(LSLB$Q Qj ; to Mortgagor and ~ortgagee jointly, and the insurance proceeds, or sny part thereof, may be applied by Mor~ 3 gsgee at its option either to the reduction of the indebtedaees hereby secured or to the restoration or repsir of ~ the property damaped. In event oi foreclosure of t6is mortgage or other transfer of title to the mortgaged property in extingu~shment ot the indebtedness eecured hereby, a~l right, title, and int~erest of the Mortgagor m and to any inaurence policiee then in force shall pasa to the purchaser or grantee. 8. 1f tl~e preiuis~~s, ur nn~- purt tliereof, bc~ ~~oudeiiuu~d under tl~e power of en~inen/ doi~iain, or acquimc! for ~ ~ public use, the clamaK~~s awarded, th~~ pro~•~~~•ds for the taking of, or th~• ~onsicl~rution for suel~ acqu~sition, to tl~e extent of tl~e tull nniount of Uie r~n?aininK unpuid indebt~dnras s~~vrnd br tliis inortKuKe, am her~b~- ~ u~~ikn~•d to th~~ ~fartKaKe~, un~i his h~•in ur assi~;ns, un~l sl~all IH~ pui~l ~ortl~Hith lo ~uid ~lort~;a~;e~ or I~is assiKne~ to be applied on arrount uf thi• lo,t nu?turi~~~ i~~stalluu~nts of su~~l~ ind~bt~~dn~ws; pm~•i~it•~i, hoK•e~•er, the ~1ortKuKee or }?is ~ssignee, uiu~- ut l~is dis~•mtiuu pu~• clir~•~•t to tl~e Vlortgu~or, I~is 1?~~i~ or us,iriis anv part ~ or ~?Il of su~•L aK•ar~t; provuled, thut if thi~ loan is ~u:in~nte~•~1 or insunKl. t}~~ conse~it of the guurantor or ii~surer is obtained in advance of said pnrment. - ~ The Mort ma at an time ndin a suit u n this mo } 8a8~ Y, Y Pe 8 Po rtB~~ aPPly to t6e oourt having juriadictioa t6ereof for the appointment of s receiver, and such court ahall forthwith appoint s receiver of the premises oovered hereby all arid aingutar~ including all and singular t6e inoome~ profita, iesues, and revenuea lrom whatever source derived. eacb and every of which~ it being expressly underatood~ ia hereby mortgaged sa if specificaUy eet forth and described in the granting and habendum clausea hereof. Such appointment shall be ma,de by suc6 oourt as an admitted equity and a matter of absolute rig6t to said Mortgagee, and without reference to the adequacy or inadequacy of the value ot the property mortgaged or to the solveacy or insolvency ot said Mortgagor or the defendanta. Such rents~ pmfita, inoome~ issuea, and revenuea shail be applied by such reoeiver acoording to the lien of thia mortgage ~ t?nd t6e prsctice of such court. Ia the event of any default on the part of the Mortgagor hereunder, the Mortgaqor ~ ' sgrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount at least , equivalent to one-twelfth (~z) of the aggregate of the twelve monthly installments payable in the then current year plus the actual amount of the annual taxes, assessmente, water rates, and insurance premiuma for auc6 year I, not oovered by the aforesaid monthly paymenta. ! 10. In t6e event of any b~each of this mortgage or default on the ( any of said aums of mone herein refened to be not rom tl and full ~ of the Mortgagorf or in the event that Y p p y y paid accordiag to the tenor hereof, or in the ~ event that each and every the atipulations, agreements, oonditions, and covenants of said note and this mortgage, are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become due and payable forthwith~ or thereaiter~ at the option of said Mortgagee, as fully and completely ~a if aU of the eaid sums of money were originally stipulated to be paid on such day, anyLhing in said note or in this mortgage to the contrery notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice or demand, suit at law or in equity, msy be proeecuted as if sll moneya secured hereby had matured prior to ita institu- tion. The Mortgagee may foreclose this mortgage, as to the amount so declared due and payeble~ and the said premieea shall be sold to satisfy and pay the same together with costa, eapenses~ and allowances. In c~se of partial forecloaure of this-mortgage, the mortgaged pmmises ahall be aoid subject to the continuing lien of this mortgage ; for the amount of the debt not then due and unpaid. In such case the provisions of this paragraph may again be ~ evailed of thereafter irom time to time by the Mortgagee. ~ 11. No ~vaiver of any oovenant herein or of the obligation secured hereby shall at any time thereafter be held ~ to be s waiver of the terms hereof or of the note secured hereby. ~ 12. The lien of thie insttument ehall remain in full force and eBect durin an t nement or extension of B Y P~ Po I the time of psyment of t6e indebtednese or any part thereof eecured hereby. ~ s I:i. If-the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then the ~ Mortgagee may pedorm the eame, snd all eapenditurea (including reasonable attorney's fces) made by the Mortgagee } in ao doing shall draw interest at the rate proviJed for in the principal indebtedness, and shall be rnpayable ~ thirty (30) days atter demand, and, toget6er with interest and costs accrued thereon, shall be secured by , this mortgsge. ~ 14. Upon the request ot the Mortgagee the ~iortgaf;or shall eaecute and deliver a supplemental note or `s notes for the sum or sums advanced ~y tbe ~tortgagee for thc alteration, modernization, improvement, main- ~ tenance, or repair of said premises, for taaes or assessments against the same and for any other purpose author- ~ ized hereunder. Said note or notes shali be secured hereby on a parity with and as fully as it the adrance , ~ evidenced thereby were included in che note first described above. Said sapplement$1 note or notes shall bcar interest et t6e rate provided tor in the principal indebtedness and shall be payable in ap proximately equal ~ monthly payments for such period as may be agreed upon by the creditor and det~tor. Failing to agree on the ~ meturity, the w6ole of the sum or sums so advancecf shall be due and pa~•able thirty (30) days alter demand ~ by t6e creditor. In no event shall the matutity extend beyond the ultimate rsaturity Qf the note first , described above. ~ 6~~K ~44 P~~E 867 ~ ~ Y ? ~ ~T.~."'~~_._. .'F.._, . _ _ . . . ~ ~ w: .r..'~~