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Home My WebLink About0329 . ~ ~ lender lo the 111ortga~;ee i~ acconluu~•e with the proviaiona o( the note eiecured 1?ert~b~•, full pa~•n~en~ ot the entire indebledneas repn~ruteci therebv, the Morlgsgee, ~s trus~ee, s!?all, in cou~puti~~g tl?e an~uun~ ot such indebtedneae, credit to the uccount of tlie ~'loct~aKor an,r• creclit balgnre remainin~; unclrr tlir pro~'LSi011S Of ~~1 of aaid psragraph 2. I~ ijlP[P SIIaI~ dNN 8(IP~NU l under any ot the provi~ions of this n~ortga~e resultiu~; in a public a~?le of the pre~~~isra covered Lereb~, or if tlie biortgagre scyuirc~ tl?e propert~• otliNrw•~ after ~letault, the Mottg~ee~ as tretetre, ahall apply, ~t Lhe tune ot the canniencemenl ot such proceedings or al the time the property ia otherwise ncquired, the sinow~t tl~en re~uaining to ~•redil of Mortgagor under (s) oi paragraph 2 preceding aa a credit an tl~e interNSt accrueJ and unpaid end t~?e balsnco to tl~e principal ti~en reinaininR unpaid on said note. 4. He ~riU psy all taxea ~u+eea~menta, water rstee~ e?nd ot,her ~overnmeatsl or municipal charges, fioes, or , impoeiuone~ for which pmviaion 6sa not been made hereinbefon, end tn default thereoi the Mortgfigee msy pey the e~aue; and tbst 6e ~viil promptly deliver the o~cisl ceoeipte theretos to the Mattgagee. He ~rill aermit~ oommit~ or auRer no psate, impairment~ or deteriorstioa of eaid pmperty os any psrt thereof e~ccept reaeonable wear aad tear; snd in the event oi tha failure of the Mortgagor to keep tbe buildinge on eai~ premieea end t6oee to be erected on eaid premieee~ or improvemente thereon~ in good repair~ the Mortgagee may make such rep~?irs ae in its diecretion it m~y deem nec~eesty for the pmper prea~rvetion thereot. and the full amounti of eaeh and every euch psyment ehall be due and psysble thirty (30) dsye after demsnd, and e6all be secured by the lien of thia mortg~sge. 6. He will psy sll snd angular t6e ooete, ~ and ezpenees, including reseonable ]swyer's fee+~s, snd oosts ~ of abetracte of title, incurred or psid at any time by t e Mortgagee becsuee of the Iailure on the part of the Mortgagor promptly and fully to pedorm the agreementa and covenant$ of said pmmiseory note and thia mortg,age~ and said ; ooste, chargee, and expenses ahall be immediately due and payable and s6sU be eecured by the lien of tL~a mortgage. # 7. He will oontinuously maintsin hszard inaurance, oi such type or typee snd amounte as Mortgagee may # from time to time require~ on the improvements now or hereaiter on said premises. and e.~oept when psyment tor all such premiums has theretotore been made under (s) ot pa~aph 2 hereof~ he will pay promptly when ; due any premiums lherefor. All insurance ahaU be carried in companiee approved by I11ortgagee and the poli- ~ ciee and renewals chereoi sholl be held by Mortgagee aad have attached thereto loss payable clausee in favor of ~ and in form acceptable to the Mortga~ee. . In event oi loss he will give immediate notice by mail to Mortgagee, s and Mortgagee may make proof ot ioss d not made promptly by Mortgagor, and each insurance oompany ! ooncerned is hereby authorized and directed to make payment for such loss directly to Mortga~e~e instead oi ; to Mortgagor and bsortgagee jointly, and the insurance proceeds, or sny part thereoi, may be applied by Mor~ ; gagee et ita option either to t6e reduction oi the indebtedne~s hereby secured or to the restont?on or repair of ; t6e property dama~ed. In event oi foreclosure of thie mortgage or other transfer of title-b the mortga~ed i property in extingu~hment of the indebtedneea secured hereby, a~l right, title, and intereat oi the Mortgsgor ~ m and to any insurance policies then in force ahall pnsa to the purchaser or grantee. ~ f R. If tlie pr~~~ui~~~, or un~- part thi•reof, tx• ~•ondc~iun~~cl under th~ power of euiitient dauum, or aeyuir~~~i ro~ i a public use, th~ du~i~a~~~s uwardecl, the pro~•e~~ds for the tuking of, or th~~ ~onsiderulion for surl? acyuisition, ti, ~ thr extent of the full ainount o( th~• re~~unininK unpai~l inclebt~~lm•,.s s~rured b~• t!?is ~uortKa~e, xrn hernb~• # ussi~n~~d to th~~ ~1ort~a~;ee, au~l I~i.. iu~irn or a,si~;ns, :?mi sf?c~ll tN~ pi?i~l forthK•ith to suid \1oriKa~;~~~ or i~is t assiKnee to tx~ applie~l on ~c~•ouiit of th~• lust i~~uturiu~ instail~ui~ntti of surh indebt~dn~~~.~; pm~•ided. 1?oH•~~•er, t tl~e \Iortgu~;e~• or lii.s :?s.siKm~~~, niu~' ut his dis~•r~•tio~? pu~• dir~~~•t to th~• ~Iurt~akor. hu h~~i:~ ur u~tiirns uur purt ~ or all of su~•L u~~~uril; pro~•ul~•d, thut if th~• I~rui is ~?uur~u~t~~~~~1 ur insurt•~I, th~ ~•on~~~nt of th~ gunrantor c~r insurer ' is obtain~~d in ad~•ancc~ of sai~l pn~•n?ent. : ; The liortgagee may~ at any time pending a suit upon this mortgage, apply to the oourt hsving juiisdictioa ` thereof for the appointment of a receiver, and such court shall forthwith appoint a reoeives of the prPmiaes oovered i hereby all arid singular~ including all and singular the income, pro6ts, iasuee, sad revenuea fmm whstever source derived, each and every of which~ it being expressly understood, is heceby mortgaged as if apecifically set forth and deacribed in the granting and habendum clauses hereof. Such sppointment ahall be made by suc6 court as an admitted ~ equity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of ; the value of the property mortgaged or to the eolvency or iosolvency of -said Mortgagor or the defendants. Such = rents, pro6ts. income~ issues, and revenues ahall be applied by sucb receiver acoording to the lien of this mortgage ; and the practice oi such court. In the event of any default on the part of the Mortgagor hereunder, the Mortgagor ' a~ees to pay to the 1Vlortgagee on demand ss a reasonable monthly rental for the premises an amount at least = ; equivalent to on~twelfth {~z) of the aggregste of the twelve monthly installments payable in the then current year plua the actusl amount of the annual tsxea, assess~ments, water rates, and insurance premiums for auch year ; not covered by the aforesaid monthly pnymente. ' : : ~ 10_ In the event uf any b-each of this mortgage or default on the part of the Mortgagor; or in the event that = E any of said sums of money herein re(erred to be not pmmptly and fully paid according to the tenor hereof, or in the ; event thst each and every the atipulations, agreements~ conditione, and covenants of said note and this mortgage~ ' ~ arE not duly, promptly, and fully performed; then in either or any auch event, the said aggregate 8um mentioned ~ in eaid note then remaining unpaid, with interest accrued to that time, and all moneys ~ecue+ecl hereby, shall beoome ~ due and psyable forthwith, or thereatter, at the option of said biortgagee~ as fully and completely se if all of the eaid sums of money were originally atipulated to be psid on such day, anything in said note or in this mortgage to ~ the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice ~r demand, suit at law or in equity, may be prosecuted as if sU moneya secured hereby had matured prior to its institu- ~ tion. The Mortgagee may foreclose this mortRage, as to the amount eo declared due and payable, and the said ~ premiees ehall be sold to satisfy and pay the same together wit6 casta~ expenses, and allowances. In case of partial foreciosure of this mortgage, the mortgaged premises ahall be sold aubject to the continuing lien of this mortgage ~ for the amount of the debt not then due and unpaid. In such ca~e the provisions of this paragraph may again be ~ availed of t6ereafter from time to time by the Mortgagee. ~ 11. No waiver of any oovenant herein or of the obligation aecured hereby shall at any ti-ne thereafter be held ~ to be a waiver of the terma hereof or of the note secured hereby. ~ 12. The lien of thie instrument ehaU remain in full force and eSect during any postponement or extenaion of . - the time of payment of the indebtedneas or any psrt thereof secured hereby. i 13. If the Mortgagor default in any of the covenants or agreementa contained herein, or in said note, then the ~ Mortgagee may perform the same~ and all eapenditures (;ncluding reasonable attorney'e fees) made by the MorigaRee _ _ ~ in so doing shall draw interest at the rate pro~ ided for in the principal indebtedness, and shall be repa~ able ; thirty (30) days after demand, end, toget6er with interest and costs accrued thereon~ sliell be secured by ' - this mortgage. { ~ ~ 14. Upon the request of t6c hiortgegee the tiortgagor shall eaecute and deliver a supplemental note or ~ notes [or the sum or sums advanced by che ~lortgagee for the alteration, modernization~ improvement, main- a ~Y tenance, or repair oi said premises, tor taxes or assessments against the same and for an~ other purpose euthor- + w ized hereunder. Said note or noLes shall be secured hereby on a parity with and as fully as if the advance evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear ; ~ interest at the rate pmvided for in the principa) indebtedness and shall be payable in ap proximately equal ? monthly payments for such period as may be agreed upon by the creditor and debtor. Failing to agree on the ; ~ maturity, the whole of the sum or sums so advanced shalt bc due and pa~able thirty (30) days afeer demand ~ ~ by t6e creditor. In no event shall the maturi~y extend beyond t,he ultimate rsaturity of lhe note first ~ deacribed sbove. ~ f* ; ~ ~ a 8(:~.r. t~ aJ vacE ~~.V ~ ~ ~ ~d~ 3 ~ - _ } : . '~~t`~~.~~ 3'?~`~ ~ ~ . _