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Home My WebLink About1626 • ~ • teader w the Mortg~gee in a~nlac?ce wit!? ~t?e proviaions of tl~e note secured f~erebv, tuU psyment of the eAtire indebl,ednees reprc~aented tberebv. the Mortgagee, ss trustee~ shaq, ia con?puting the auiount of suct~ indebtedaess~ credit to ti~e account ot tl,e Mortgagor sny o~ed~~ balance rem~ining under tlia provisiona ot (s) ot ssid rsph Z. If thare ehaU be a detsult under any ot. the provisions of thie mortga~e resulting in e public sal~ the premiees covered hereby, or if the Mo~tg~gee acquire~ t!?e propert,y otherw~se sfter det~ult, the Mortgagee, as trustee~ ah~ll ~pply. ~t the time of tha co~ninencement ot auch proceedings or af. tl~e time ~ the property is otherwise acquired~ the amount then reniaining to credit ot Mortgagor under of paragr~ph 2 preoediag as a ce~edit on the interest accrued snd unpaid sad Lha bt?lince Lo the principal then remai~ing uap~ud # oa eaid not~e. ~ 4. 8e wtll py? ~p taxe~. aeee~ah, w~?te~ e'utes, and ot6et~ovecamental ve municlPat e~+arges. Sae~. os imPodtlons, for wWob pmvieioa has aot been mads henlnbetore. and ia defaul~ tl~ereof tbs Mcrti+~8~ ~Y PU? ~ ~ams; and t~6~L be will Pe'omPW? deiiver iLs o~'ieial ieoapts tbee+etor to the Mort~ee. b. 8e will peranil~ oommif~ or euHer no waet~s, imp~irme~t, oe det~sriorat3o~n ot eaid prope~ty oe~qy ~sr~ tha+eo~ e:oept re~o~sb~e .ross sna ta?r• ana in ws event or ths ca~lurs of tbe M to keep tbs buildin~e oa eai~ w pe~emises ,~nd tbo~s to be ereot~e~ o~n e~ia premieee, or ionprovements t~he~+eon, Sood repa~r uye Mortgagee msr maks such npain aa in ita diacntion i! aoay deem neoeeeary for theproper prescrvatioa thereo~ aad fbe full amount af each aad every eucb p?y~eni ahaU bs dus aad p~yabls ihtr~7 (30) da~y~ +~ff~er demaad, uo~ ebsll bs eecured by ths lien ot this ~onottp~e. 6. Hs will p~y ~tl aad a~s6u4c tbe oosta, ~ and eacpenea, iadudin6 reasonsble Lwye:'a fees, ~nd oosts ai ~batrsets ot titie, incurred or pud at any time by Mortg,~gee because of tLe f Wure on the pat of the P~PVY snd t~y to pedorm the a~reementa and oovenaats d s~d pmmies~ry not~e and thia mort~e , and siid oost,e, ehsrges. and expeneee ahaU be immed,ate~ due,md p.ysble snd ebail be.eaued by the liea ot cbis morc~e. 7. Ha wiU o~ntinuousiy ansintaia haurd i~unace, oi such type or t~pes and ~maunts as Mortgsgee m~y tmm tinae to time e~equire, on the impmvemeats now or hereatter on a~id p»mises aad axoept ~vhen paymen0 !or ~11 sac6 premiums haa tLeretofore been made uader oi psrag~a~b Z Lereoi ~e will pay promptly whea due any premiums ~horefor. All inauraaoe shatl bs cerried in oompaoies approvea by bi ~gag~ and the poli- cies and renewsla thereoi s6a11 be held by Mortgagee snd L~ve attached thereto loss psyaba le cTauses in iervor of and in iorm acoeptsble to t.ha Mo In event oi loae he will give immediate notioe by mail to Mortgages, snd Mortgsgee msy make .proof~~ if not made promptly by Mostgagorl and each inauraaoe oompany aoncemed is Lereby~suthonsed and directed to maka payment for snch loes du~ectly to Mor~tga~ee ins ~~i to Mo r aad Mor oinWy , and the inaursnce prooeeds, or aay p~rt Wereoi m~y be apFlied by gagee sr t~ t~s option eithe~~~e reduction of the indebtednees hereby secured or to t~e restorat~on or repair oi the property dsms~ed. In event oi foreclosura oi thie mortgage or other tnwsier oi Litle to the mortgaged pmperty in extangu~shment of the indebte~lneas eecured hereby, a~l rig6t, tiWa, and int~eres~ oi the Mortgagor m~nd to any insureace policies thea in force ahell p~e to the purchaesr or grantee. 8. I[ tl~e prea~isc•s, or un~- puK thernof, be conclesnnrd under t1?r power of en~inenL doninm, or acquired for ; a public use, tlie dau~ages av?arciecl, tl~e proc~ecds for tl~e takin& o!~ or the considerntion [or sucl? acqu~sition, to the extent ot the full aroount o! tl~e rernaining unpeid inclebte~lness serurnd b~' tl?is mortgage, are hereb~• assigned to tl~e liort~ee~ and his lieirs or ass~ns, und s1?a11 t~ paid forthwith to saici Mortgagee or l~is assignee to l,e appliecl on acrount o( t}~e laat a~nturinR i~istallu~ents of sucl? indebtedness; provide~l, howcrer, the ?1lortgngee or lus assiKnee, n~s~ at his discrntion pa~ dircK•t to tl~e Mor~gagor, liis lieirs or assigns anr part or ali of sucti awani; provided~ tl~ut i~ the loan is guarnnteMl or insurncl, the consent of tlie guarantor or insurer ie obtained in acivance o( said pa~ ment. 9. The Morigagee msy, st any tSme pending a auit upon t6ia mortg,age, apply to tbe oourt bsving juriedict~on thereof for the sppointmeat of a reoeiver, and such oourt ahall forthwith sppoint s reoeiver of the prem~eea oovered hereby all a~d aingulsr, includina all and aingular the inoome. profite, issues~ and revenues from ~vhatever souroe derived, esch aad every of which~ it being eupreasiy underetood~ is hereby mortgaged ae if apeci6call,y eet forth and deecribed in the srsating aod habendum c3auaea bereof. Such sppointanent ahall be msde by auch oour6 se an admitted equity ~nd a matter of abeolute righ! to eaid Mortgagee, and without refer~aee ta the adequacy or inadequsoy of the value of the pmperty mortgaaed or to the eolvency or ineolvency of asid Mort~agor or t'~e defendanta. Such rents, pmfita, income. iffiuea snd t+evenues ahsll be spplied by euch reoeiver acoording to the lien of thia mortgage aad the practioe of such e~urt. Ia the event of any default on t~se part of the Mortg~gor 5ereunder, the Mortgagor ag~+eee to p~y to the Mo on dennsnd as a reaeonable monthly rentat for the premises an amownt sti Least equivalent to one-tweUth ( z) of theag~e~ te of the twelve monthly insWlments psyable in the then curre,nt yesr piua the :?ciwil amount of the annual ta:ee, s~asmente, wster rs~s, and inauranoe prPmiuma far auch year not covered by the aforesaid monthly psymente. 10. In the event of say b~ach of thia mortg~ge or defsult on the p~r! ot tbe Mortgagor~ or in the event that F sny of ea~d eums ot money herein refen~ed to be not promptly and fully paid accordu~g to the tenor hereof, or in tbe event that eac6 and every the atipulations, agreemeats, oonditions, and eovenanta of esid note and this mortgage~ sre no` du]y~ prompt{y, sad fuUy pedonmed; then in either or any auch event, the esid aggregate aum mentioned in esid note thea r~neinin~ ungaid, with interest ~ied to thst tune, and all mone~ra eecured hereby, ahsli beeome ' due and psya?ble fortbwith, or thereaiter, at the option of said Mortgap~ee~ as fully and completely as if all of tLe aaid eums of money ~rere origiaally atipulated to be paid on such day, anytbing in said note or in this mortgage to the oontrsry notwithatsnding; and thereupon or t6ereaf'ter. st the option of said Mortgagee, without notice ~r demand, suit at isw or in equit~, msy be proeecuted as if all moneya eecured hereby bad matured prior tfl ita inatitu- tion. The Mortgagee muy forecloee this mortgage, as to the amount eo declsred d~e and payable~ and the aaid y prem~a shaU be eold to satiafy aad pay the same together witb ooete, ezpenses, and aUowancee. In caee of psctial ~ ot recloeure of thia mortgage, the mortgaged premises ahall be sold subject to the eontinuing lien of this mortgage !or the amount of the debt not then due and unpaid. In snc6 case the pmvisiona of thia paragraph may again be i ~vailed of there~iter fmm time to time by the Martgagee. ` 11. No ~vaiver ot any ouvensnt herein or of the obU~etion aecured hereby ahall st any time thereafter be held ~ `o be s w~uver of the terms hereoi or oi the note secured her~by. ~ 12. TT~e lien of this instrwoo?enL ehaII remain in full force and eHect during sny poetponement or extensioa ot ~ the time of psyment of tLe i.ndebtednean or any part thereof eec~red hereby. 13. If the Mortgagor defsult in e~ay ot the oovenants or agreementa contained herein~ or in aaid note, then the ~ Mortgagee mey perlorm tbe eanue, and aU expenditurea (including resaonable attorney'e fees) made by the Mortga~ea in eo doin shall dnw interest st the rate pmvided for in the principal indebtednese, and shall be repayable ~ j thirty (30~ dsya sfter demand, and, together with interes6 and oosts accrued thereon, shall be secured by i thia mortgage. ~ 14. Upon the request of the Mort~agee the Mortgagor ahe11 execute snd deiiver s supplemental note or notes !or the aum or sums advanced by the titortgagee Ior the alteration~ modernization, impmvement, main- tensnce, ot repair of said premises, for taxes or ussessments against the same snd for any other purpose suthor- ized hereunder. Said note or notea aha!! be secured hereby on s parity wit6 and as fully as it the advance ~ evidenced thereby were included in the note first described above. Said supplementsl note or notes shsll bear interest a~ the nte provided for in the principai indebtedness and shsll be paysble in a~ pproximately equa! monLhly psym ents for such period ~s may be agreed upon bY the creditor snd debtor. Fsiling to agree on the msturity, the w6ole ot the sum or suma so edvsnced ahall be due and payable thirty (30) daya after demand by tha creditor. In no event s6a11 the msturi6y estend beyond the ultimete nsturity oi the AAtC ~TSti described above. - aoa~~4~ PA~E162z - _ ~ - ; ~ . . . , _ . . ~ 4 ~vS ~..t ~':-v1 . _ _ . ? y.,.~"~' 3;...:~"` Fk-~s-.s' . T G' _ ~ "~G~"'T - . , w _ ~~'`r~:. _s-_. .