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Home My WebLink About1077 . ~ i v ~ 1 r tender lo the Mortgagee in accordsnrr witl~ tiie proviaioua ot the note secured I~ereb~, tull pa~men~ of tl~e en6ire indebtedneaa reprc~?ented thereb~, the hiortgagee~ as trustee, shall, in computing thN ~n?ounl of sucli indebt,ednesa~ eredit, to the secount ot tl?e I?~lortgegor nny erecl~t Lalance reuiaining ur~der tl?e provisiona o! (a) ~ o~ said p rsph 2. lt there al~wll be ~ default unde~ uny o~ tl?e provi~ioitia of thi9 ~~iortga~e resulting in e public sal~ the premises covered hereby~ or if the Mortga~re acyuues tl?e property otherwise atter ~lefsult~ the Mortg~gee~ aa truat~~ ahall spply~ at the tu~ie ot the coiumence~nent ot such proceedinga or at tlie time the property ~e otherwise acquired, the amount the~ reu?e~ining to credit of hiortgsgor under (a) of paragrspl~ 2 preceding ~s a cre~lit on the intereaC sccrued snd unpaid snd tl~e balsnce to ttie principal lhen ren~ainu~g unpatd on said nole. 4. He aill pay ~Il taxes. aeeeeemente~ wsLer rat~es, aad other~o vernmental or municiPal ehar6e0. fina. os impc~tions, for which prov~aion Laa not been made here~nbefore, ~ad in detaulL thereoi tbe Mortg~gee msy p~y tbs e~a~e; and ttut 6e will promptly deliver Lbe oflicial reoeipta theretor t~o t6e Mortgagee. 6. Ha will permit, oommit, or suHer no waste, impairment~ or detuiorauon of s~id property or ~ny pari thereof e:cept reaaonabk wear and teu; ~?nd in the eventi of the failure oi the Mort~agor to keep the building~ on sai~ preaaieee and t~hoee to be erected on eaid premiaea, or impmvements thereon, ia good repair We Morigagee msy malce such repairs ss in ite diecretion it msy deem neaesary for tbe proper Preecrvation thereo~, and the full amoun0 of eac6 and every euch payment ehe~U be due and p~yable thlity (30) dsys att~ar demand, aad ~hsll be eecured by the lien of this mortgaae. 6. 8e will psy ~11 und dnguler the ooete, and espeaees, iacludiaa reaeonsble lswyer's tees, aad oosb ot a~strscb ot title, iacurred or psid st sny Gme ~~Mortdsgee bec~wee of t,he f Wure on t,he psrt ot the Mort~sgor P~ m P~ Y ~d full y to p edoran the a~ e e ment$ snd oovensate of sa~d promieeory note and this mo~t~gage~ snd e~ud eosta~ c6sr6es~ and expensea ahall be immediately due and paysble and s6sU be secured by the lien of t~ i a mortgage. 7. He will oontinuous~y maintain haaerd insurance, oi such type or types snd amounts ae Mortgagee may irom time to time require, on the impmvementa now or heredter on ssid premises and e.tcept when payment tor all auch premiums hsa theretofore been msde uader (s) of paragrsFh 2 hereof 'he wiU psy promptly when due any premiums thorefor. All inswrAnce ahall be carried ia companies spprove~ by I~iortgages and the poli cies ead reaewsls thereof shall be held by Mortgagee and have attached thereto lass paysble clausee in fevor oi and in form accepteblo to the Mortgegee. In event oi loss he will give immediate notice by mail to Mortgsgee~ and Mort.gsgee mey make.prooi oT Ioss if not made promptly by Mortgagor, and each insuranoe oompany ooncemed ia hereby~suthonaed and directed to make payunent ior such loes direcWy to Mo~ee inatead oi LQ Mor~~r ~n~ Mc~rtgag~e ointly = and the inaurance proceeds. or any part thereof, msy be ap~p 'ed by Mor~ _ gagee st ifs option eil,her to t~e reduction oi the indebtedneee hereby secured or to the reat,on~on or repair of t6e pmperty dama&ed. In event oi foreclosure oi Lhis mortgsge or ot~her transier of title to the mortgaged ~ property in extingu~shment of the indebtedness secured hereby, a~l right, title, and interest of the biortgagor m and to any insurance policiea then in force ahsll p~a to t6e purchaser or grsntee. ! 8. If ihe prnrois~~s, or nnr purt thereo(, l~e ~•ondemn~d under the power o( eu~inent~ clo~~~au~, or acc~uimd tor ~ a public use, tlie dan?agc~s awarcled, the prareds for ihe takiug of, or the ~onsid~rution for such acqu~sition, to ti?e extent of t~~e iuli uinount oi tLe re~~~aiuinK iiil~fllf~ iililPiitc~~Iili'ai SPCiII'P(I f3~ tliis ~tiiortg~Kc, srn licreb~- assiKned io tl~~ \tort~aKec•, und 1?i.s lu•i~s or as.si~;ns, un~l sl~ull lx~ paid forthNith to suid ~fort~age~ or his aasignee ta be applie~l on ac•rount uf the la,t n?uturu~~; i~istalbi~~~nts of su~•h indebtedness; pro~~i~led, 1?oH•e~•er~ the LlortKuge~ ur h~s s~,signee, uiu~• ut his duc~mtion pu~- dir~•~•t to th~ ~iorlgngor, iiis h~~irs ur assigns an~- part or ull o[ sucl? aNanl; pro~•~ded, thut i( the loan is ~uaruntr~d or insured, the c•onsent o( U~e guarantor or insurer is oblsined in aclvance o( said pa~•ment. 9. The Mortgagee may, at any time pending a suit upon this mortgage~ apply to the oourt having jurisdiction thereof for t6e appointmen~. of a receiver, and such court ahall forthwit6 sppoint s r~oeiver of the premieea oovered hereby all aiid singular, inclnding all and singular the income~ profite, issues, and revenuea fmm whatever source derived, each and every of which, it being expressly underatood~ is.hereby mortgaged sa if speciScally eet forth and described in the granting and habendum clausea hereof. Such appointment shall be made by such oourt as an admitted equity snd a matter of absolute rigbt to eaid Mortgagee, and without referenoe to the adequacy or inadequacy of the value of the property mortgaged or to the eolvency or insolvency of said Mortgagor or the defendants. Such ' rents, proSta. income~ issuea, and revenuee ahall be applied by such reoeiver acc~ording to tbe lien of this mortgage and the practice of such oourt. In the event of any default on t6e part of the Mortgagor hereunder~ the Mortgagor agrees to pay to the Mortgagee on demand sa a reasonable montbly rentai for the premieea an amount at "leaat i equivalent to one-twelft6 (~z) of the aggregate of the twelve monthly installments payable in the then current ~ year plus the actusl amount oi the annual taxes, s~nnents, water rat~ee, and insurance premiums for such year ~ not covered by the aforesaid montWq paymenta ~ 10. In the event of any b*each of thia mortgage or default on the part of the Mortgagor~ or in the event that ~ sny of said suma of money herein referred to be not prompWy and fully p~d according to the Lenor hereof, or in the event tbat each and every the atipulations, agreements, uonditions, and oovenants of said note and thia mortgage, ~ are not duly, promptly~ and fully performed; then in either or any suc6 event, the said aggregste sum mentioned ~ in eaid note then remainin6 unpaid, with interest accrued to that time, and all moneye eecured hereby~ shall bec:ome ~ due and psyable forthwit6~ or thereaiter. at the option of said Mortg,agee. as fully and completely aa if all of the esid auma of money ~vere ori~nslly atipulated to be paid on sucb dsy, anyL6ing in said note or in this mortgage to ~ t6e oontrary notwithstanding; aad thereupon or thereafter, at the option of said Mortgagee~ without notice or ~ demand, suit at law or in equity, msy be prosecuted ae if all moneys secured hereby had matured prior to its institu- ~ tion. The Mortgagee may foreclose this mortgage, sa to the amount eo declared due snd payable~ and the said .?.p.n;~ Ah~?11 hP ~nl~i ~n xatiafy and osy the same toaether wit6 ooste, expensea, and allowances. In caee of partial ~ a ~orecMsure of this mortgage~ the mortgaged premises shaU be sold aubject to the continuing lien of this mortgage ~ for the amount of the debt not then due and unpaid. In such ease the proviaions of thia paragreph may again be ~ avsiled of thereafter irom time to time by t6e hiortgagee. ~ 11. No waiver of any oovenant herein or of t6e obUgation secured bereby shall at any time thereafter be held ~ to be s waiver of the terma hereof or of the note secured hereby. ~ I2. The lien of t6ie instrument ~hall remain in full foroe and egect during any poatponement or eatension of ° tbe time of p~ymeat of the indebtedneas or any part t6ereof eecured hereby. • ~ 13. If the Mortgagor default in any of t6e oovenanta or agreemente oontained herein, or in eaid note~ then the v Mortgagee may pedorm the same, and all eacpenditures (including reasonsble attorne~r'e fces) made by the MortgaRee in ao doin shalt draw interest et the rate pmvided for in the principal indebtedness, and shall be repa} able t6irty (30~ days after demand, and, together with interest and costs acerued thereon, shall be secured by ~ thia mortgsge. ~ 14. Upon the request of t6e Mortgagee the Mortgagor shall execute and deliver a supplemental note or ~ notes for the sum or sums advanced by the 1lortgagee for the alteration, modernization, improvement, main- tenance, or repair of ssid premises~ for taxes or aaQessments against the same and for any other purpose suthor- ~ ized hereunder. Ssid note or notes shall be secured hereby on a parity with and as fully as the advance evidenced~ thereby were included in the note first described above. Said supplemental note or notes shall bear interest st the rate provided for in the principal indebtedness and shall be payable in sppmximntely equal ~ monthly pay ments for such period as may be agreed upon by the creditor and debtor.~ Failing to agree on the msturity~ the wboie oI t.he sum or sums so advanced shall be due and pa~ able thirty (30) days after demand by the creditor. In no event shalt the maturity eatend beyond the ultimate c~aturity ot t6e note 6rst described above. ~ °R2~ ~ 078 ~oo~ 4 i ~ ~ : - _ _ - - ~ r ~ ~ ~ ~ ~ ~ . _ ~ ~