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Home My WebLink About0461 t AND the soid Mortqo~or hereby covenonts ond cqrees with the :aid Mortyoyee as lolbw:: ~ FIRST: Thot the Mortqagor is lawfullr seised of the cbove destribed premises in fee simpfe ond hos pood riyht to selt ond conver the some to the Mortyoyee; tho~ the said premi:es are free and di:chor9ed of and from oll toxe:, tox titles or ce?tificotes, , judgments, mechonit s liens and encumbra~ces of ony nature or kind whotsosver and thot the Mortyoyor wilt fully wa~ront ond T ~ defend the same to the Mortgagee, o~ainst Me lowful cla~ons and demands of cll pe~sons whomsoever, ond will moke such further ~ ossurorxes to perfect fee simple title to soid land, in the Mortgo~ee, as mar reosonable be required, and will poy the seve~ol sums of money agreed in the sa~d note to be poid and all inslollments of p?incipol ond inlerest thereon promptly when due, and otcording to the true tenor ond effect of the soid note. SECOND: Tho~ the Mortgagor will por all and singular the toxes, assessments, levies, and encumbronces of every notu?e on the above described p~operty, and upon this moMgoge and note, or the money secured therebr, before de~inquerxy thereoi ond ~eceipts evidencing payment oi said taxes, ossessments. levies ond encumbrances shall be deposited with the Mort9o~ee on or before March Ist of eoch succeeding yeor durin~ the term of fhis mort~age; and if seme be not promptly poid when due, Me Mwtgagee may (wi~hout obligotion to do so) poy the same, or betome purchaser of ony lowful evide~+te thereof, or certificate ' therefor, wi~hovt waiving or offectirtg any right hereunder ond in Mis n+ortgo~e, or the said note whith this mortgege secures; ond such payments or expenditares so made shall bear interest from the dote fhereot ot the rate of~per tentum~per an.~um. THIRD: That the Mo?tgagor will keep oll real o~d penonol propeHy now o~ hereofte? encumbered by the lien- of this mor~gage insured as moy be required from time to titne by the Mort~agee cgainst loss by fire. windstorm and other ha:ards, casualties and contingencies for such periods and for not less thon such omovots os moy be required by the MoNgogee ond to poy promptly when due all premiums for svch iruvronce. The omov~ts of~ wth insuronce required by the Mortpagee ore expressive of only the minimum amounts for which said insurence sholl be wriNen and it sholl be incumbent upon N+e Mertgo~or to maintain sutb additionol insu~ance as mar be necessary to meet ond complr fully with oll co-insurance requiremeots contained in said policies to the end that soid Mortgogor is not o to-insuror thereunder. Insuronce shall be wriften by a tompany or tompanies approved by the Mortgagee and all policies ond renewols the~eof sholl be held by the Mortgogee. All detailtd designations by the Mwtgagor which ore ouepted by the Mortgagee ond a{I agreements between Morfgagor and Mortgagee reloting to insurance, now exis~ing or hereafter mode, shall be in writing and shall be a paA of this mo~tgcye cgreement os fully os though set forth verbatim herein ond shall govero both parties herero and their successors and auig~n. No lien vpon any of said policies of insuronce or upon anr refund o~ retum premium which may be payable on the cancellotion or terminotion thereof, shall be given to othe~ thon the Mo~t- gagee, except by proper endonement alFixed to wth politp ond approved br Mortgagee. Each polity of insurance shall have affixed thereto a Standord Mo~tgagee Clause aaeptable to the Mo?tgagee, moking olf loss or losses w~der wch policy payable to the Mortgogee as its interest may oppear. In the event any wm or sums of money become payable therevnder the Mo~tgagee shall hove the option to receive and opply fhe some on aaount of the indebtedness hereby secured, or to permit the Mo?tgagor to receive and use it, or any part thereof, without thereby waiving or impoiring anr equity, lien or righl under and by virtve of thi: mortgage. In event of bss or physicol damage to the mortgage~d propertp the Mortgagor sholl give immediote notice thereof by moil to thc Mortgagee and the Mortgagee mor make proof of lou if the same is not mode prompNy by the Mortgogo~. !n event of foreclowre of this mortgage or other transfe~ of title to the mort~a~ed property in extinguishment of the indcbtedness secured herebr, all right, title and interest of the Mongagor in ond to any inwrance policies then in force sholl poss to thc purchaser or grontee. Upon onr defovlt thereof, the Mortgegee nwy (bvt withovt obli~otion on ih pan so to do) ploce insurance on such buildings and poy the premium ond charge wch wms so paid to fhe Mortpayor and such wms of money so paid sholl bear interest from the date of payment ot the rate of ~~e er centu~~~per anrwm. 1 FOURTH: That all surr?s of money poid or caused to be paid by the Mottgayee under tfie terms of this mortgage and herein ~ specificolly provided for, and including any expenses incurred by /he Mortgagee in tollection of the sum sccured by this mortgage, i ; shall be covered by the lien of this mortgage, the some as the sums of money represented by the note wFi~ch this mortgage secures. i FIFTH: To permit, commit or wfier ra waste, impairmeM or deterioration of said property, or ony part thereof, ond upon the failu~e of the Mortgagor to keep the buildings on said property in good condition of repeir, the Mo~tgagee may demflnd the immediate repair of said buildings, or an intreose in the anaunt of sesurity, or the immediote repayment of the debt hereby setured, and the foilure of the Mortgagor to complr with said demand of the Mortgagee for a period of fifteen (15) doys shall constitute a b~eoch of this mortgage, a~d, at the option of the Mortgogee, immediately mature the entire unpaid principal and interesf hereby secured, and the Mortgagee may, witF~out notice, institute proceedings to foreclose this mortgage, end opply for the appointment of a receiver, as hereinofter provided. - SIXTH: That the Morigagor hereby promises, covenants ond agrees to pay the sums of money and interesl as mentioned in said promissory note, together with any ond all other swns jusNy due end owing the Mongoyee by the terms therein, and secured to be paid as stated therein prompNy wfien dve. If default shol~ be mode in the poyment of the said sums of money or ony port thereof as provided in the soid note or this mortgage, or if the interest that may become due thereon or eny part thereof sholf be in default ond unpoid for a space of fifteen (15) days, or should the Mortgagor breoth or fail to comply with any other tovenent or agreement on the part of the Mongagor to be tomplied with (in those toses in which the option of the Mortgagee of auelero- tion is not otherwise expressly provided herein) and such breoch or non-compliance continue in existence for o space of fifteen (15~ ~ ~ days, then and from thenceforth, at the option of the Mortgagee and without notice to the Mortgegor, the whole of said principal ~ sum expressed in soid note, together with oll other sums therein as well as herein provided for, sholl betome immediotely due and ~ parable, without notice to the said Mortgagor. ~ ~ SEVENTH: That in case it shovld become necessary to place this mortgage and the note secured hereby or either of them, ~ ~ in the hands of an ottorney for collecYan, the said Mortgagor covenants and agrees with the Mortgagee to poy oll costs, charges ~ and expenses of such colleclion, including reasonable attorney's fees whether tollected by foreclosure or other.wise. ~ EIGHTH: That, in the event any suit is brought upon this mongage, whether to foreclose it, to reform it, or otherwise, and- or to enforce poyment of ony claim hereunder, the Mort9agee mar opply to any court having jurisdiction thereof for the oppointment of a receiver of said mortgaged property, as well os the income, profits, issues ond revenues thereof, and the said ~ BooK 245 PACE 460 . -z- _ _ ~ - w.v_~ . . _ _ , _ _ _ _ -