Loading...
HomeMy WebLinkAbout0462 i mcome, profits, i~sves ond reven~e~ ore ~ereby mor~~oged as if tpetificolly sef forfh ond destribed ~n ~he g.ont~n9 and habendum clouses Ae~eof, ond suth receiver shcll hove oll ~he b~ood ond effetlive funclions and powers ~n any wise entrus~ed br o coun to 0 receive?, o~d suth oppoi~tmenf sholl be mode by suth to~rt os an admitted eqvify and o motter of obsolute ?ight in the Mott~a~ee, ond withoul refe~e~ce lo the adeqvocr o~ inodequatr of Ihe vol~e of the p~operty mortqo~ed, or to rhe solvencY or insolvency of i the Mortyogor ond/o~ the defendant ond such rents, profits, ~ntome, issves and revenues sholl be oppl~ed by ~he receive~ acto~dinq t fo the lien ondior eqv~tr of this mo~tyo~e ond the prottite of such courl, and such oppo~~tment of receive? sholl be witAoul notict to any obligor he~eunder. NINTH: The Mortgogo~ hereby woives all riyhts of homesfead and exemption gronted by ~he Constitution and lows of ~ Fb~ido. It is specifKally ogreed thot t~me is of Ihe essence in this co~~~acf end thof no waiver by the Mo~tqogee of any obl~gor~o~ ~ hereunder o~ of the obligation secured hereby sholl ot ony time M+ereofle~ be held to be a woivet o{ fhe terms he~eof or of Ihe : obligotion secured hereby. TENTH: Upon onY sole, tronsfer or conveyonce of the property herein destribed ond covered by this Mo~tflope to ony person, firm or corpo?otion, whose credit-worthineu hos not been opproved in writing by the holder of this Mort~o9e, the Mortpo9ee or holder sholl hove the ri9ht, at its sole option, to occelerote the moturity of this Matgoge os thagh it were d~e and poyoble on the doy of suth tronsfer, if upon notice of soid tronsfer, the Mortgoyee w holder hos good reoson to believe thot the seturity of the Mortgogee or holder hos been hormed or Ploced leopordy. The Bonk sholl receive o complete current finonciol stote- ment in a fam ond p~esentotion satisfoctory to the Bank BEVENTH: If forecbsure proceediogs of any second nwnqage or second tnist deed o~ any junio~ lien of any kind should be instituted, the Mortgogee moy, at its option immediately or thereofter decla~e this mortgage and the indebledness secured hereby due ond parable. TWQfTH: That in the event the premises hereby nart~aqed, or any part thereof, sholl be co~demned and taken for public use under the power of eminent danoin, the Mort~agee shall hore the right to demand Mat oll dama9es owarded for the taking of or damages to said premises shall be poid to the Mort~aqee, up to fhe amount then u~poid on this nwrtgcge and Me obligafion secured hereby and may be applied upon the poymenfs last poyable under fhis mortgage and the obligation secvrcd hereby. THIRTEENTH: That insto~lments, poyable under the terms hereof and fhe note secured hereby, not paid when due, shall be subject, after fifteen (15) days from the dve date thereof, to, and it is ogreed Mortgogee shall collect thereon and therewith, a "late charge" in the amount of four per cent (4%) of the installment due upon eacfi such delinqvent installment, ond wch "late chorges" ore secured by the lien hereof. . FOURTEENTM: Without impairiny the obiigotions of Mortgagor contained in parpgrophs SECOND, THIRD and fOURTH hereof, and for application to Me purposes thereof insofar os the same sholl be wfFicient, Mortgagor sholl, in addition to M+e monthly Payments of principol ond interest os stated in the oripinal note (and in the note or notes secured herebr) provided to be made, par a monthly sum and omount equol fo one-twelfth (1/12) of the esfimoted a~nual taxes, osseuments and inwronce . premiums upon Me reol estote security, as the amount thereof is determined fran Nme to time by the Mo~tgagee. i ~ FIFTEENTH: That Me Mortgago? shcll fumish anrwallr, ot the request of the Mortgagee, finan:ial stotements in form ond f certified in a monner satisfadory to the Mortgagee. I ~ ~ SIXTEENTH: This mortgage also secures any and all renewals and extensions of the promissory •rate referred to herein and ~ :ecured herebr, and oll insfollmenls thereof, and also any other notes whicfi have been or mor be given fo fhe Mortgogee by the ~ Mortgagor, and any other indebtedness of the Mortgagor to the Mortgagee which, however, sholl not exceed at anr Qne time the aggregofe unpaid principal sum of _ _ - - - - - - - Dolton (S . 1. it being the specific intention that further advontes moy be mede by the Mortgagee at its option to the Mortgagor, eithrr prior to or after the due dates of the above refer?ed to promissory rate• herebr secured; and this mortgage is given for the specific purpose of securing ony ond all indebtedneu by fhe Mortgagor to the Mortgogee in whotever manner the sane may be evi- denced or represented, until this mo?tgoge is satisfied of retord; and all tovenants and ogreements contained in this mortgage shall be applicoble to all further end future advances made by the Mortgagee to the Mortgogor and all other indebtedness of Mo?tgagor to the Mortgogee, and anr cnd 'all renewols or extensions thereof. ~ SEVENTEENTH: the bank shall be entitled to reasonable costs and attorney's fees ~ on appeal. ~ ~ ~ ~ ~ . ~ ' ~ooK 245 PACE 461 ~ -3- ; - _ - - - _ _ i~ Y~.,~ ~ ~ . ~G .b~~ : ' ..1 .