HomeMy WebLinkAbout2115 teAde~ ~to ths Mortgagee in acconi~nce witl? the provi~iot» of tlu note secured 1?ereby, full payment ot t~l?e
eatirs indebtedne~s represented therebv, the Mort,gagss~ a~ lrust~ee. sh~ll~ in computing the anount oi euch
iadebt,ednas, creciit to tt~e sccount ot the Mortgsgor any credit dalsnce rem~ining under the p~oviaiona ot (o)
ot uid ph a, lf there ahoU be detault unde~ any ot the pmvirions of thie mortgs~e ~esulting in a
public sal~the premiaes covered herebv~ or it tha Mortgigre acquues i,he proper6y othecw~e ~tter deisult~
the Mortgagee, a~ trurtee~ shsU ~pply~ ~t the ~iu?e of the caninencement o! such proccedings or ~?t the time
the propsriy i~ otherwise i?cquired~ the iunounL the~ re~ii~ining co credit ot Mortgagot under (a) of paragnph.2
preoe~iug as a credit on the interest ~ccrued and unpaid ~?nd tha bol~nc~e to the pr~acipal then remsining unpud
on 4aid not~.
4. He wtU p,y alt ~~eeerments. wst~ee n?tb. aod ot~h~ee~vetnr~a
tat a annniaip~t a6s~ Roe~ os
ia?Dotltioa~„ for whlo6 provLion haa not been m~ds bereiab~ars, aad ia d~tault tberaot tDs Moitp~ee m~Y Pw ~
Mms; and thst Ls will promptb? deltver tLe oBoial reoelpfa t6ee~efoe to the Mort~es.
b. He Mit! permit, oommil, or su![er no watte, impai:meai, or detaerlontio~ ot eaW pe~opett~ oebu~ the~~eot
aacoept reaaeaable ~rear aad tear• ~ad In t,bs avent ot tbs f~ilure ot the M~~r to keep tbs on aid
preani~es sod t~6oas to bs eceaLe~ oa s~id pn~Le~, or impravemeot~s thereon. 3a-rood rep~ir t~hs Mort[~6'~ m4Y
m.lc~s .ueh rep.irs a. in ia ai.oretioa it m.~y deen~ aeoe~s~? ier ehe~~roper pr~e.cn?ar~ioa Lhereo~ and tbs fuu .mo~wo
oi a?oh and avery ach paymeat eLall bs due apd PiV?sbk thir~jr (~v) dyrs attee~ deaaand, an~ ~haU bs seoured bp?
the liea or tLi~ most~s.
a 8e will p~y sll and sin6u4s t6s oosts, and espe~ses, indudiua ra~so~abl~e 4wyer's fees, aad oosb
ot ~betraet~ ot title, ineucred or p~id at ~ny time by ort~ee 6eesuee of tbe i~ilure oa ibe part ~ tbe Mort~or
P~P~Y aad i~y to perform ths a~reements and oovanants of ~id proanieeo~r~r note aad thid mo , and ea3d
ooats, c~rza, and expenees shall be i~na~diate~y due aud payable aad aha11 ba ~eoured by tbe L'ea o[~mort~e.
T. He wilt oon~iauoua~j maint~ain hwrd iasuraace, oi such type or t~pes aad amounb as Mortgagee msy
iram time to time require, on L6e improvement~ now or hareatter on said pnanises and ezoept when p~ymen0
tor all suc6 premiuma h~a tt~eretofore been m~de under ~(a) of psrsgrsFL 21?ereoi ~e ~rill gay promptiy whan
due aay premiuma theretor. All insuranae aball be carried in companies appmvea by M~ and t6e poli-
cies and renewale thereoi ahall be held by Mortgagee ~nd Ls~e aLtacLed t6ereto loes psyable uses in iavor of
aad in form aoceptabk to tba Mos In svent oi lo~s 6e vrill give iananediate notioe by m~il to Mortgsgee,
•ad Mortg~agee may malce,prooi ~ if noti made pmmpW~? by Mortgagor~ and eacL insuru~os oompeq7
ooncerned ss hereb suthorised and directed to mske p~Tment for auc6 bes du~eetly to Motg~ in,stesd oi
y~ sed m
ta Mortgag~or i?ad Mortgagee joinUy, and the inaunaoe grooeeds, or an~ part thereot ma~ be
ap~
- F7ied by Morw
gsgee at its option either to tbe reductian of ths indebtsdnees hereb~ secured or to t~e res~or~twa or repair of
the pmpertj dama~ed. In even0 of forecbsure of this mortgage or other trw~fer oi titie to t6e mortgsged
pmperty in ext,inguis6ment oi tbe indebtednees aecured hereby, a~l rig6t, title, and interest oi the Mortgagor
io and to any insurance po4cies Wen in force ah~ll p~ to ths purchasec or gcantee.
8. 1f t}?e pre~uisea, or nn~- purt tl~ereof~ be conde~uned under Uie power of en~inenL domam~ or ac4uired tor
a publie use, tlie dan?ages awarclecl,ll?e pmc~recls for the taking of. or the ~onsicierntion for sucl~ aequ~sition~ to
the e!ctent ot the tull s~uount o( tlie rc~maining unpaid inlebtednPaa secured b~ this niortgage, are 1?ereb~•
nssigned to il~e Mortgagee, and liis heirs or assigns, und shall 1~ peid forthwith to said 1~tortgagec or hia
asa~g nee to be applied on acrount of thc last iuaturiu~ instaUu~ents of sucL indebteclness; provided, however,
the iiort~ee or 1?is ussignee~ ~i~a~ at. his ~lisrretion pa~• dircet to t}ie MortgaF;or, liis l~eirs or nssigna any part
or ail o[ sueh awarci; providecl. that if the louu is KaarunteM! or insurecl, the consent of the guarantor or insurer
is obtained in adv$nce oI seid pa~ment.
9- The Mortgagee may, st anq time peading a suit upon thia mort8~8e, ~?PPiY !~o the oour~ having jwrisdict~on
thereof for the appointment of w reoeiver~ snd euc6 oourt ahe~ll forthwith sppoint s reoeivet of tbs premieee oovered
hereby aU s~d aingulsr, iacluding sll aad aingular the ineome, pro6te~ i~c~es, aad revent~es fmm w+hatever eource
derived, eac6 snd every oE ahich, it being ezpreeely underatood, ~s hereby mortgaged as if specificslly aet forth and
deecribed in the granting and hsbendum clsusea 1~reof. Such sppointment ahe?ll be made by euch oourt aa sn admitted
equity snd s matter of abeolute right to esid Mort~agee~ snd without refereaee to the adequaey or inadeqaacy of
the value of the property mort~ed or to tbe eoivenay or ineolvency of asid Mort~yagor or the defendants. Such
rents. Pro6ts. inoome, ieeues, aad reveaues sbslt be applied by such reoeiver su~oordina to the liean ot thia mortgage
und tha practioe of eueh oouri. In. the eventi of my defsult on the part of tbe Mortgpgor hereunder~ the Mort,gsgor
agreES to psy to the Mo oa demand as • reasonable moatbly rental for the premieee an aanount at lea~rt
equivnieat to one-tweUth ( s) of the ag~ate of the Lwelve montbly installments psysble in the t6en curreat
year plus the aetwl amount of the annual taaes, ae~snnenta, wster ratea, end inauranoe premiums for euch year
not oovered by tbe aforeeaid monthlp P~Y~~
l0. Io tLe eventi of sny b*esc6 of this mortgage or defsalt on the part of t~he Mort~agor~ or in the eveut thst
any of said suma oi money herein refen~ed to be not prompWy snd fultyp~ d according to the ten~ hereaf, or in the
event that each aad every the atiputationa~ agreementa~ ooaditiona, snd ooveaaats of said aote and thia mortgage,
' ae+e not dulY, promPtly. and fully performed; then i.n either or any such event~ tbe aaid sggregste aum mentioned
In said note t6en remaining unpaid, with intereat accrued to thst time, snd all moneys eecured hereby, a6all beoome
due aad psysble forcha?~ch, or Lhereaiter~ at t6e option of ssid Mortgagee, as fulty and completely ae if sll of the
eaid aums of money were ori~natty stipulated to be psid on eucb dsy, aayt.hing in esid note or in t6ia mortgage to
` tbe eontrary notwithatanding; aad thereupon or thereafter, st the option of esid Mortg,agee, without notioe ar
i demand~ auit at law or in equit~, msy be groeecuted sa if aU moneys secured hereby had metured prior to ite institu.
~ tion. T'he Mortgagee may forecloee this mortgage, se to the amount so declared due and payable, and the eaid
premiees sha116e eold to satisfy aad pay tbe same together with oosts, espemee, snd allowances. In a,se of psrtial
i loreclosure ot this mortgage, the mortgaged premises shall be eold subject to the oontinuing lien ot this mortgage
~ for the amount of the debt not then due and unp~?id. In auch case the provisiona of this paraqraph may ag~in be
~ sv~iled of thereaftear lrom time to time by the Mortgagee. _
' I 1. No waiver of aay oovenant herein or oi the obligstjon secured hereby aball st sny time theresfter be held
' to be a waiver ot tba ternns beteof or of the aote secured hereby.
' 12. T~e lien of Lhie inbuument ehsll remain in full force sad egect. during any postponement or extenaion of
!6e tim~ of p~ymen~ o~ tbe indebtedaeas or sny psrt thereof secured hereby.
13. If the Mortg,agos default in any of the covenanta or agreemente contained herein~ or ia eaid note~ then t6e
Mortgagee msy perform tbe eame~ and aU expenditurea (including ressonable attorney's feea) made by the Mortgagee
in so dom shall draw interest at the rste pmvided !or ir~ Lhe principal indebtednesa. snd shsll be repsyable
thirty (30~ days atter demand, and, together with interes~ and oosts accrued thereon~ ahall be secured by
this mortgage.
14. Upon the request of t6e Mortgagee the Mortgagor ahsll eaecute and deliver ~ supplemenf,al note or
notes tor the aum or sums advanced Dq tbe tiiort.gagee tor the alteration, modernization~ improvement. main-
tensnce~ or repsir ot said premises, tor Laxes or asseasments against the same and for any other pury~ose author-
ized hereunder. Said note or notes shall be secured hereby on s pscity with snd as fully aa ~t the advsnce
; evidenced thereby were included in the note first described sbove. Said supplementai note or notes shall bear
interesi st t6e rste provided for in the principal indebtedness and shsll be psysble in ap procimately equa]
monthlp paym ents tor auch period as may be agreed upon by the creditor snd debWr. Failing to 4gree on the
m~turi~y, the whole oi t~he sum or sums so advanced ahall be due and payabie thirty (30j days atter demand
by the creditor. In no event shall tbe mst,urity extend beyond the uitunate mnturity of the note &rst
described above. A
, 8COK2`t~ PA~~'21,~
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