The URL can be used to link to this page

Home My WebLink About0312 ~ • , i tender W tiie IVlortgagee in uccunlau~•e witl? ti~e provi~io~~s ot the n~t~ ~ecu~rd I~ereb~, full paymenl~ of t}ie = entire indebtednrua reprc~ented therebv~ the Morlgagee, aa truatee, ahall, in computi~ig /l~e e~iluu~~t o~ sucli ~ indebt.e.~lnees, credit to tl~e account uf tlie vtortgpRor nny crr.dit balance~re~naining under the provisions of (s) ot eaid par~ raph 2. !f there shwll be a detau~t under ~ny ot ~he provisiona o( tl~is ~nortge~c resulling in a publie sale ot the premia~ covered hereby, at it the Mortgagre acyutrea the propert;v otLerw~ atter default, the Mo~tgague, ea truetee~ ahall apply, st the tune of the coutuiencement ot sucl~ proceedinge or at t}?e tin~~ the property is otherwise acquired~ the ~~uounL then reu~eining to cr.~ciit o[ Mortgagor uncler (s) ot parugraph 2 preceding aa a credit on the interest i?ccrued en~ unpaid and t1?e balence to ti?e principal Lhen reuiainiu~ unp~~d on said note. - 4. He will p?y all t~ces~ aeseee~ments. wster rst,es~ t~ad other ~overamental or municipal eh~rges, S~e~ o~ impoeiti~ne~ for which proviaion hae not baen made hereiubefore~ aad m detsult therea~t t6e Mortgagee iasy pqy t6e ~me; ~d t6a~ be will prompWy deltver t~he oBei~i reoeipte theretor to t6e Martg~ee. b. 8e wiU parmiL~ oommit, or euHer no wast,e, impairment, or deteriorauon ot ea~d property or aay part thercvi exeept, ressonsble wear snd tear~ aad in the eventi ~t t~De failure of the Mortg~gor to Iceep t~ buildings on esi~ p~emiees snd thoee Lo be erecta~ on eaid premises~ or improvements Lhereon, in good repair the MortB~ ~Y make such repoirs ss in ita diecretion it msy deem neoeeear,~ ~or the ~roPer Prescrve?tioa theca,~. ~ud the i~~ll amouaL ot each snd avory sucb puynuea~ ahaU be due and p~~ysble t6irty days sttar demaad~ and ahsll bs seoured by tbe liea of tbis mort~e. _ 6. He will pay all aad eingulsr the oosts, cl~ ~ad ea~penses, includina raaeonsble Lwyer'~ fees, and oosta ? of ~bet.racts of title, incurred or psid a~ any time by Mortg~sgec becauee oE tha fsilure oa the pa~t oi the Mortgagor ! promptly aad fully t~o perlorm the agreementa and oovenants oi eaid promiaeory note and thismortgage~ aad eaid ~ oosts, charges, and expenses shaU be ixnmediately due nud payable and shsil be seeured by the lien oi thia mortgage, i 7. He will oontinuously mainf~sin 5azard ineunaoe, oi auch type or t pes snd a~nounts ae Mortgagee msy trom time to time require~ on the improvemente now or hereatter on ssi~premisea snd excepti when payment tor all such precniuma haa theretoiore been mi?de undar (s) oi psrsgraph 2 hereof ~e vvill psy promptly when due u?y premiuma thcrefor. All insurance ehall be canied in compsnies spprove~ by I1lortgagee and the poli- ciea i?nd renewals thereo! shall be held by Mortgagee and l~sve atLached thereto loss paysble crauses in favor ot and in torm acceptable to the Mortgagee. In eveat of losa he will give immediate notice by msil to Mortgagee, and Mortgagee inay make _proof of losa if not made promptly by Mortgagor, and each insuranoe c~ompany ooacerned is 6ereby~suthonzed and directed to mske psyment for euch loee direcWy to Mo~ee inatead of to Mortgagor and Mortgagee )ointly, snd the insurance proceeds, or any pazt thereoi msy be ap+p 'ed by Mor~ gsgee st its option eil6er to t6e seductiQn of the iDdebtednees hereby eecured or to t~e reatonUon or repsir of the property dama~ed. Ia event ot foreclosure oi this mortgege or other trsa9fer oi tiWe Lo the mortgaged ~ property in extinguishment o! the indebtedness eecured hereby, a~l right, tit~le. and interest of the Mortgagoc m and to any iasurance policiee then in focce shall p+~sa to the purchaser or grantee. 8. I~ U~e prnmisis, or nn~- purt tliereof, be ronde~u~eed under th~ powhr of en~inenG doa~~u~n, or acquired for a public use, tliP dame~es awarilecl, tlu• pro~•e~~da ~or ihe taking of, or the ~onsid~rniion for sucl? ecquisitioi~, tc~ tl?e extent of tLe full amount of the rnmainin~ unpai~l indebte~iness sec•urcd b~• t}~is i~~ortgu~e, arn hereb~- assiKned to tl~e ~1ortKa~ee, au~l hi.~ h~i~ or us,5i~;ns. un~l sl~all t?r pui~l forthw•ith to suid ~1or1~a{;e~ or his assignee to lx~ applied a~ ac•~•ou~U of th~~ last n~uturinK instalL~+i•nts of ~u~•h indebtedneas: pm~•i~led. )?oHe~er, thc ~iortKuKee or lii4 ~ssign~~~, ~i~u~- ut his ~li.~~•r~~lion pei~• ~lire~•t ta the Mortgugor, his l~ein or ussiKns an~ ~,art or al! of sucl~ aw•anl; pro~idrd, thut if the loan is Kuarnntr~~~l ~r ensurrcl~ thc~ consent of the guarantor or insurer is obtained in advanre of said pa~ ment. 9• The 4lorigagee may~ at any time pending a suit upoa thia mortgage~ apply to t6e onurt having jurisdiction thereof for t~,e appointment of a receiver, and such court ahall forthwith appoint a receives of the premieea oovered bereby all a~d singular, including all and singular the incame. pro8ts, iasuea, and revenues fcam whatever souroe derived, each and every of whicb, it being expressly underatood, is herEby mortgsged sa if specifically eet forth and described in the granting and habendum clauses hereot. Such sppointment siiall be made by suc6 oourt as aa admitted equity and a matter of absotute rigbt to said Mortgagee, and without reference to the adequacy or inadequacy of - the value of the property mortgaged or to the a~lvency or insolvency of said Mortgagor or t~e defendanta Such rents, profita, income, issuea, and revenues ahall 1Se appUed by euch receiver acoording to the`lien of t6ie mortgages snd the practice of suc6 oourt. In the event d any default on the part of the Mortgagvr hereunder, the Mortgagor sgreea to psy to the Mo on demand aa s reasonable monthty rentsl for the premiees an amount at Iesat ` eqwvalent to oae-twelith~of tbe aggregate of the tvrelve monthly installments payable in the then current i year plus the actusl amount of t6e sunual taxea, sssessmenta, water ratea, sad insursnoe premiume for such year ~ not oovered by t6e aforeeaid monthly psymente. ~ 10. In the event of any b~+each of t,bia mortgage or default on the ~rt of the Mortgagor, or in the event t6st ; wy of said suma of money herein referred to be not promptly and fully p~id according to the tenor hereof, or in the p event that eac6 and every the stipulationa, agreemente~ conditians, snd oovenants ot said note and this mortgage, ; are not duly, promptly, and fully performed; then in either or any such event~ the eaid aggreAste eum mentioned in aaid note tben remaining unpaid~ wit6 interest accrued to that time, and all moneys aecun~d hereby~ ahall beoome ~ due and psyable fort6w+it6, or th~reafter, at the option of said Ibiertgegee~ as fully and comgletely ae it all of the eaid sums of ~uuoney were orig~nally stipulsted to be paid on sucb dsy, snylhing in said note or in this mortgage to ~ the oontrary notwithatanding; snd thereupon or thereatter. at the ogtion of said Mortgagee~ without notice ar - demsnd, suit at law or in equit~, m:.y be prosccuted as if all moneys aecured hereby had matured prior to its institu- ~ tlon. The Mortgagee may foreclose this mortgage, as to the amount eo declared dus rwd payable, and the said premises shall be sold to sa!isfy and pay the same together with ooBts, expeneea, and allowances. In c;sae of partial foreclosure ot this mortgage, the mortgaged premises shall be eold subject ta tbe continuing lien of this mortgage ~ for She umount ot the debt nut then due and unpnid. In such case the provisions of this psragraph may again be ~ svailed of Lhereafter lrom time to time by the Mortgagee. ~ 11. No ~vsiver of aay oovenant 6erein or oi the obligation aecured hereby s~,alt at 9ny time thereafter be 6eld ~ to be s waiver of tDe terme hereof or of the note secured hereby. ~ 12. The lien of this inr,crument shall remain in tull force snd eBect during any postponement or extenaion of tbe ~ime of psyment of the indebtedneas or any part thereof eecured hereby. ~ 13. If the Mortgagor defsult in any of t6e covenanta or agreemente eontained herein, or in said note, then the F Mortgagee msy periorm the same~ and u11 espenditures (including reaeonable attorney'e fces) msde by the Mortga~ee ~ in ao doing shall draw interest at the rate provided tor in the principal indeb!edness, and shall be repayable ~ thirty (30) dsya atter demand~ and, together with interest and costs accrued thereon, shsll be secured by ~ ~ this mortgage. . ~ 14. Upon the request, ot t6c Mortga~?ee the l~iortgagor shsll oaecute and deliver a supplemental note or ~ notes for the sum or sums advanceci Dy the `tortgagee for the alteration, modernization, improvement, main- tenance, or repair oi ssid premises, for taxes or as.aessments agsinst the satt~e and (or any other purpose author- ~ ized 6ereunder. Said note or hotes shall be secured hereby on s parity with and as tully as if the advance ~ evidenced thereby were included in the note first deseribed above. Said snpplemental note or notes shall bear ~ interest at t6e nte provided tor in the principal indebtedness and shall be payable in ~proximately equsl ~ montbly paymenta for such period as may be agreed upon by the creditor and debtor. Fa' ing to agree on the ~ msturity, the wtwle of the sum or sums so acivanceJ shall be due and pe~eble thir~y (30) de~ys aft~er demsnd . ~ bq the creditor. In no event ahail the maturity extend beyond the ultimate raaturity ot the note Srst ~ - deecribed above. . ~ 800K 2~ ~ P~GE ~ 3l2 ~ - ~ .~,_W._..._ . ~ ~ = ~ , , ~