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Home My WebLink About0199 ten~ier tu tt~e 71urtKu~;~~e in nr~•unluu~•~~ v?•itli the E?ro~•i~iuns u( th~• uoe~~ ~~•~•un•~I h~•mbv, lull pa~ u?~•nt of t1u~ entire iudebtednesss rr4~n•,t~nted th~~r~~?,~•. th~ \1ort~;u~;r~, at? tru,i~•e, sh~?11, in rui~~~,~tii~k thr anwunt c,f sucli indebtc~luc~ss, ~•redit to tlu~ ueco~nt uf t~u~ \fc?rt ~n~;ur un~• rrc•~iit I~alanc~• r~~iuuii?in~; un~l~•r th~~ pru~~i;iuns u( (a) of aaid paragraph 2. it ihert~ yl?all Ix~ a d~~fuu~t uml~•r uu~' uf ih~• pro~•iyiuus of tl~is ~iioetKa~e r~~sultiu~; in a public sale of t1~N pmi?iisi•s ~•o~•rred h~•reb~•, or if the ~lortgnger ar~~uires th~~ pcu{x~rt~~ ~~therwwt• uttc•r ~Irfault, tl~e hlortgagP~, us trustee, shall apply~ al the tu~~e of the ~•o~uu~encement of such pro~•~~e~li~?k?s or ut tlie~ tinu~ the property ia ot1~Nr~vi~e u~•quired, the auiount thet~ n•~uainin~ tu ~•reclit o! \fort~;agor u~?d~~r (a) c,f E~aru~;rapli 2 precedi~ig as a credil on th~• interest accrurd and unpaid and tlle bulance to tiie principal tlu~n rc~niaiwu~ iu?paid on said note. 4. He wiU pay all taxes~ aeseeamente, water rates, :?nd other governmental or muaicipal chargea~ 6nes, os impoaitione, for which proviaion has not been made deceinbefore, and in default thereof the Morigagee may pay the eame; end that he will promptly deliver the o~cial reoeipte~ theretor to tbe Morigagee. 5. He will pernnit~ commit~ or sutfer no waate~ impairment, or det,~rioralion ot said property or any pact thereof~ except reasonable wear and tear; and in the event of 6he iailure ot the Mortgagor ta keep the buildinge on eaid premises and thoea to be erected on asid premisea. or improvementa thereon, in good repsir~ the hiortgagee may make such repaire es in ita discretion it may deem neceeeary for t6e proper preac,rvation thereof~ and the full amount of each and every euch payment ehall be due and payable thirty (.30) daye after demand~ and ehell be eecured by ths lien oi thie mortgage. - 6. He will pay aU and aingular the~costa, chargee, and expenees, including reasonable lawyer's feee~ and costs ot ebetracts of title, incurred or paid at any time by the Mortgagea becewee of the failure on the psrt of the Mortgagor promptly and fully to perform the agreements and covenants of esid promiseory note and thia mortgage, and said coete, c6arges~ and expenses shall be immediately due and payable and shall be eecured by the lien of this mortgage. 7. He will oontinuously maintain hazard insurance, ot auch type or types and amounts as hiortgagee msy trom time to time require, on the improvementa now or hereaiter on said premises, and e.tcept when psyment for all such premiuma hes ~t~eretofore been made under (a) oi paragraph 2 hereof, h~ wiU pay promptly when due any premiums therefor. All insurance shell be carried in compamea approved by Aiortgagee end the poli- cies end renewals thereof s6nll be held by Mortgagee and have attached thereto loss payable clause8 in lavor of and in form acceptable to the ~4ortga~ee. . In event of loss 6e will give immediate notice by mail to Mortgagee, and `lortgagee muy make prooi of ioss d not made promptly by ~iortgagor~ and each insurance c~ompany concerned is hereby authorized aud duected to make psymeat for such loss d'uectly to Mortgagee instead of to :liortgagor and 4lortgagee ointly, and the insurance proceecls~ or any part thereof, may be apphed by Mor~ gagee at its option either to t~e reduction of the indebtednesa hereb9 secured or to the restorataon or repair of the propert.y dama~ed. In event~ of foreclosure o! this mortgage or other transte~ of litle to the mortgaged propert,y ~n extinguishment of the indebtedness secured herebq, a~l right, titte~ and interest of the Mortgagor ~n and to any insurance policies then in furce shaU p+iss to the purchsser or grantee. R. 1f th~~ pr~~nii,~•;, ur uu~- pt~rt th~~n•of, b~• ~•on~li•inn~~~i an~l~•r th~• ~ww•~~r of c~~uiu~~nt ~lo~uni~n, or a~•~~uin•~I for a publi~~ usc. Ih~• :lan?ar~~ ii~car~l~~~i. tL~~ pro~•~~~~~1, for tl?c~ tukin~? oP,'or th~• ~•nnsiil~~rution for su~•j1 f1P(~Ulslllotl, tu th~• ~•xtent of th~• full :?n?ount of tL~~ r~~niuinin~; unpai~l indt•{1tP1I114'SS s~~rured b~• this uiort~?a~~•. ur~• h~~e~~b~~ ussi~n~•~1 to th~• ~1ort~?x~t~c•. un~i 1?i. h~~i~~ ur u:si~i~~, .uul sliall h~~ p:~i~l (orth~~~ith to suid 11urt~:a~~~~~ ~~r I~i~ a..~iKne~~ to lu~ appli~•~l uz? a~•i•~?u~it ui thr lust n~utur~ii;: i~?stallnii~nts c~f +u~•h in~l~•bt~•~In~~~s: pmt~idrel, ho~~•~•~'~•r, the \(ortka~:~~~• ~~r l~i, :i~.i~;n~•~•. n~u~~ ut liiw ~li:~•r~~ti~,n pu~- ~lir~•~•t t~? tL~~ ~Icirtru~;or, i?is L~•in ur u:;irns i?n~• ~»~rt or ull of su~•6 a~~aril; Nro~•i~lt•il, thut i( th~• luun is ~;u:u•:u?t~~~~~1 ~~r iusur~~~l, tL~• ~•onst~ut of tli~• guureintur ur'insurnr is obtainc•~1 in a~l~•anre o( .ui~l pu~•i~~t~nt. The `iortgagee may, at any time penciing a suit upon this mortgage, apply to the court having jurisdiction thereof Eor the appnintment oi a receiver, and such court shall fort6with appoint a receiver of the premises covered hereby all add singular~ including all and singular t6e income, p:ofita~ issues, and revenues Irom whatever source deriveJ, each and every of which, it being expressly understood, ia hereby mortgaged as if apeci6cally set forth and described in the granting and habendum clauses hemof. Such appointment shall be made by sueh coutt as an admitteci equity and a matter of absolute right to said Mortgagce, and without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolveacy of said Mortgagor or the defendants. Such rents. proSts, income~ issuea~ and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such coutt. Ia the event of any default on the part. of t6e Mortgagor hereunder~ the Mortgagor li agrees to pay to the A'Iortgagee on demand as a reasonable monthly rental for the premises an amount at least f equivalent to one-twelfth (~jZ) of the aggregate of the twelve monthly instullments payabie in the then current ; year plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year ! not covered by the aforesaid monthly payments. ` lU. In the event of any u-eac6 of this mortgage or default on the part of the Mortgagor; or in the event that ~ any of said sums of money herein referrec3 to be not promptly and fully paidaccording to the tenor hereof, or in the ; event that each and every the atipulations, agreements, conditions~ and covenants of said note and this mortgage, E are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accraed to that time, and all moneya securecl hereby~ shall become ~ due and payable forthwith~ or thereafter, at the option of saici hiortgagee~ as fully and completely as ii all of the ~ said aums of money were ori~nally stipulated to be paid on such day, anything in said note or in this mortgage to ~ the contrary notwithstanding; and thereupon or therea(ter, at the option of said Mortgagee~ without notice ~r demand~ suit at. law or in equity~ may be prosecuted as if all moneys secwed hereby had mstured prior to its institu- tion. The :~tortgagee may foreclose this mortRage~ as to the amount so declared du~ and payable, and the said ~ premises ahall be sold to satisfy and pay the same together wif,h cwsts, eapensea~ and allowances. In case of partial ; foreclosure of this mortgage, the mortgaged premises shall be sold subject to the continuiag lien of this mortgage ~ for the amount of the debt not then due and unpaid. In suc6 case the ptovisions of this paragraph may again be ~ availed of theceaiter from time to time by the ~tortgagee. ~ I 1. No waiver of any covenant berein or of t6e obligation secured hereby shall at any ti~e thereafter be held ~ to be a waiver of the terms hereof or of the note eecured hereby. ~ 1'l. The lien ot thia instrument shall remain in full force and efiect during any postpoaement or extenaion of ~ the time of payment of the indebtednesa or any part thereof eecured hereby. ~ i:i. If the Mortgagor default in any of the covenaota or agreements contained herein, or in said note~ then the Mortgagee msy perform the same~ and all expenditures (including rea9onable uttorney's fees) made by the ~iortqagee ~ in so doin~ shall draw interest at t:~e rate provid~~d for in the principal indPbtedness, and shall be repayable ~ thirt,y (30) da~•s a[ter de~nand, and, to~ether with interest and costs accrued thereon, shall be secured by ~ t6is mortgage. ~ 14_ Upon the request ot the tilortgagee the ~iort~a~or shall execute and deliver a supplemental note or ~ notes for the sum or sums ad~•anced ~y t6e ~tortgagee for the alteration, modernization, impro~ement, main- :F tenence,_or repa~~~( said premises, !or taxes or as.~essmi nts a~;ainst the same and for any othcr purpc~se autl~or- ~ ized 6ereundcr. Said note or notes shall be secured hereby on a parity with and as fully as i( the ad~ence evidenced thereby were included in the note, first described above. Said supplem~ntal note or notcs shall bear ~ interest et the rate provided tor in the principal indebtedness and shall Le pa}•able in approximately equal ~ monthly pay•ments tor such period a, may be a{;reed upon by the creditor and debtor. Failing to agree on the ~ maturity, the whole o( Il~e sum or sums so advanccd shall bc due and pa~•aLle thirty (30) days afl~r demand ~ by t6e creditor. In no event shall the maturity extenJ beyond t6e ultimate c~aturity of lhe note first ~ deacribed sbove. Y ~ t" ~ ~_l~-. 1.'~ ~ . _ - ss: _r:*c~ ~~:c? ~ . _ . L. _ . _ '~~r-. ±'~`h'~