The URL can be used to link to this page

Home My WebLink About2799 tender to the ~lortg~~~~~ in aecurdun~•r v?•itl~ tb~~ Nru~•i+ions ot th~~ uut~~ aecurrd liernb~•, full pu}•n~eiU of th~ 1 e~~tire indebtednrss reprc~euled tl~ereb~•, the Aiortga~e~, as trust~~e, shull, in con?putii~k ~I~r anu~unt o( such ~ indebtrdut~sa~ ~•redit to th~~ acrount ot tlu~ ~io~tgaKur un~ crndit balunce rr~naininR und~~~ tlu~ pro~•isions o[ (a) o~ said paragraph 2. If tl~ern shall t,e a~INfault under ~n~' O~ lI1P ~1['OVIS10118 O~ 1I11S ~uortga~e rnsultin~ in a public sale of tl?e prn~uitx~ ~~vere~i I~ereb~•, ur if 1he Morlgsg~~e e~•yu~rea the pro~~rty otl~erh•~sc~ after d~~feult, the Iliortgsgee, aa t~ustt~~, shall apply, et Ihe tu~ie of the cauu~encenient of sucl~ pra•eedinga or at the tim~ tt~e propert~ ~ oUu~rwi~ arquire~l~ tlie ainount 11?en reu~ainin ~o crrdit of !llort~agur uud~r (a) of paraKrapl~ 2 e~ preceJin~ aa a~•rNCiit on 11~~ int~rnst accruecl and unpeici a~d t~e balanc~ 1o the prinripal tl~~~n rnmaininK unpaid un Raid note. 4. He ~rill psy all taxea, sseeasments~ wstee r~??tes, and other ~overnmental or municipal chugea 6aes, os icnpoaieione~ for which provieioa haa not been made hereinbefore~ sad in de[aul~ thereof the Mortgegee may pay t6e esme; ~ad tha~ he will promptly deliver t6e o~cisi reoeipt~ Lherefor to the Mostg,~gee. b. He ~ril! permit~ oommiL. or suffer no waste, impairment~ or det~erioratioa of sdd property or ~anp psrt thereoi, eucept resaonable wear and tesr; and in tha event ot the failure of the Mortgagor to kee tha build' mieea and thaee to be erected on said P ~ on said pre premieea or improveanente thereoa, in good repair the Mo me? malce such repairs ae in ita diecretioa it may deem neoee~eary for t6e proper preec.rvation thereo~, and the frtulg l~sanount of each and every duch payment shall be due And psyable thir~y (30) dsys ~fter demand~ snd a6sll be sxured by the lien ot thie mortg,age. 6. He will psy all and singu4~r the ooste, c6argea, and expeaeea, Including reseonable Lwyer'a feea, snd oosts of abstracta of title~ incurred or paid at any time by the Mortgagee becauee of t6e fsilure on the part of the Mortgagor promptly aad fully to perform the agreements and oovenanta of eaid pmmiseory note and Lhia mort~age, snd eaid oosts, chargee, and pacpenses shall be immediately due aad payable and ahall be eecured by t6e liea of this mortgage. 7. He will oontinuously maintain 6azard i~urance, of auch type or types snd smounte ea Mortgagee may • trom time to time require, on the impmvementa no~v or hereaiter on sa~d premises and except when payment tor all such premiums hsa theretofore been made under (s) of paragraph 2 hereof ~6e will pay pmmptly whea due apy premiums therefor. All insw~nce ahall be carried in compeniea spprove~ by hiortgagee and the poli- cies and reaewals thereof shall be held by Mortgagee and hsve attached thereto losa payable ctsuses in iavor of and in form acceptable to the Mor ee. In event of losa he will give immediate notice by msil to Mortgagee~ and `iortgagee may make proof of oss if not made promptly by Mortgagor, and each insursnoe oompany ooncerned is hereby auchorized and directed to make payment for such loss directly to Mortga~ee instead of Lo biortgagor end biortgagee oinWy, and the insuranee proceeds~ or any psrt thereof, may be applied by Mor~ gagee at ita option either Lo t~e reduction of the indebtednesa hereby secured or to the restoraWon or repair of the property dama~ed. Ia event oi forecloaure of this mortgage or other transiec of title to the mortgaged ~ property in extinguishment o! the indebtedaess secured hereby, s~l right~ tiWe, and interest ot the Mortgagor ' m and to any iasuraace policies then in force shall pnss to the purcheser or grantee. g. If th~~ prc~n~is~~s. or un~- purl therc~c~f, lx~ c•on~l~~iu?e•d under i)~e poHC•r of emin~~nt clon?ain, or acquirnd for a public use, th~ dai~~x~~s aa•arde~cl, the pmc•~~,i~ ro~ ~i~~ ~r, or ihe~ ~onside~rution (or su~•1~ ac~quisition, to the ~~xtent ot tl~e (ull an~ount of Uie rnmaininK unpaid i~?~I~bt~~ln~~s s~~~•ur~~d b~• this uiortgn~;e. arn hernb~• ~s.tii}?ned to th~• ~lortKt~Ke~, uu~l I~i.ti 6~~irs or a~5ir~~~, uu~l ,h:~D tx~ puiil forthNit6 to suid ~1oM~u~.?e~ or liis iusiKnce to Ix~ appli~~d on a~•~•ounl uf tlir lust u~uturi~i~ installuu~nts uf su~•h indel?t~dnc~s; pm~•i~i~•d, hoH~~~-cr, tiie ~IortKu~e~~ ur his :~.~i~;n~•~•, u~uj• ut his dis~•n~tion p~~r ~lir~•~•t to th~ ~1ortK~kor, Itis I~~~irs or u.s.tii~;ns an~- purt or ull of sucl~ a~rard ; pror« (~~~1, thut if tiu• loun is ~u:?ru~u~~~~~1 ur insureil, th~• ronsent of tl~e guurant~~r or insurer is obtained in advenct• of sai~! pa~•i~u~nt. 9• T6e 1liortgagee may, aGany time pending a suit upon this mortgage, apply to the court having jurisdiction thereof for the appointment of a receiver~ and such court shall forthwith appoint a receiver of the premises oovered hereby all arid singular, including all and singular the income, pro6ts, issues, and revenues from whatever source derived, each snd every of which, it being expressly unde~stood, is hereby mortgaged ae J apecifically set forth and described in the granting and habendum clauses hereof. Such appointment shall be made by such oourt as an admitted equity and a matter of absolute right to said Mortgsgee, and wit6out reference to the sdequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or t'~e defendants. Such rents, profits, income~ issues, and revenuea shall be applied by auch reeeiver according to the lien of thia mortgage aad the practioe of suc6 court. Ia the event of any default on the part of the Mortgagor hereunder~ the Mortgagor sgrees to pay to the Mortgagee on demand as a reasonable mont6ly rental for the premiaes an amount at leaat equivalent to on~twelfth (~2) of the aggr~ate of the twelve monthly installmenta psyable in the t6en curt~ent ~ i year plua the actual amount of the annual taxes, seaessnnents, water rates, and insurance premiums for such yesr = not oovered by the atoresaid montWy payments. ; i = 10. In the event of any b-each of this mortgage or default on the part of the Mortgagori or in the event that ~ any of said sums of money herein referred to be not promptly and fully paid accord~'c~g to the tenor hereof, or in Lhe ~ event that each and every the stipulations~ sgreements~ oonditions, and oovenants of said note and this mortgage, ; are not duly, promptly, and fully pedormed; then in either or any such event, the said aggngate sum mentioned ~ in esid note then r~maining unpaid, with interest aocrued to that time, and all moneye ~ecured hereby, shall become ~ due and payable forthwith, or thereafter~ at the option of said Mortgagee, as fully and oompletely us if all of the ~ said suma of money were originally stipulated to be paid on such day, anyLhing in said note or in this mortgage to ~ ~ the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice or ~ demand, smt at law or in equity, may 6e prosecuted ss if all moneys secured hereby had matured prior to its institu- ~ ~ tion. The Mortgagee msy foreclose this mortgage, as to the amount ao d~eclared due and payable, end the said ' ~ premisea ahall be sold to satisfy and pay the same together with oosta expenses, and allowances. In case of partial ~ ~ toreclosure oi this mortgage, the mortgaged premises shall be eold subject to the c~ontinuing lien of this mortgage ~ for the amount of the debt not then due and unpaid. In suc6 case the provisions of this paragraph may sgain be ~ availed of th~re$fter f~om time Lo time by t6e Mortgagee. ° 1 t. No waiver of any oovenant 6erein or of the obligation secured hereby shall at any tinne thereafter be held ~ to be a waiver of the terms hereof or of the note secured hereby. 12. 1'he lien of this instrument shall remain in full force and eflect during any poatponement or extension of ; the time of payment of t6e indebtedness or any part thereof eecured hereby. I:i. If the Mortgagor default in any of the oovenante or agreements oontsined herein, or in said aote, then the Mortgagee may perform the game, and all ezpenditures (incluciing reasonable attorney's fees) made by the MortgaAee in so doing shall draw interest at the tate provided for in the principal indebtedness, and shall be rnpayable i thirt,y (30) days a[ter demand, and, together with interes~ and costs accrued thereon, sliall he secured bp ~ this mortgage. - ~ 14. Upon t6e request of the Mortgagee t.he 11Zortga~;or shall eacecute and deliver a supplemental note or notes for the sum or sums ad~anced by the ~iortgagee for the alteration~ modernization, improvement, msin- ~ ~ tenance, or repair ot said premises, for taxes or assessments against the same and for an~• other purpose author- ~ ` ized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as if the ad~ance s evidenced t6ereby were included in the note first described above. Said supplemental note or notes shall bear : interest st the rate pro~ ided for in the principal indebtedness and shall be pa; able in epprorimately equal = monthly psyments for such period as may be agreed upon by the creditor and debtor. Fail'u~ to agrec on the { maturity, the wbole of the sum or sums so advanceJ sha11 bc due and pa~able thirty (30) days aftcr demand by the creditor. In no event shall the maturity extend beyond the ultimate raaturity of the note first ~ described above. ~ ~ `s`oox~~4 r~cc2`~'~9 } ~ ~ ~ . ~ _ ~ - - I'I ~ ~ ~ . ~ ' . - ' ~ ~ :