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Home My WebLink About0032 . _ , i . ; I _ . e. 'tu Dcrform. canFb' with and abide by esch ~nd ov~Y a~pohtloa. agroamont, cond[tiau and a~veuant in said praaissory uote aud ~ieed ? sot fatb. _ ? 7. In t6e evoat the jurisdictlon o[ tbe U. S. Dl~kt Court sball be invoked by ora~ainst the Mo.~gagor~~under wy af tbe pro~•isiant ~f th~ ~ Federsl Hanlcruptcy Act, auci~ actioa. whetl,er voluntary a involuntary o~ thep~r~ oF the Mortgag~, shaU automatic~lly, witt~out notica ao- ~ cr1~.,rato tLe ma:urity of all sums of money herein ~cribal aad secur~, c.ad the aame :tiaD thereupea be~?ane duo ud payabb forthvrlt~ as fuUy u i[ the said aggce~ste suau af money vw+re ortginally atipu!ated tq be pvd aa such dat~e. be ?ane 8. To deli~~e~ tn caid Mat~;aSee, oa or be(are lUarch 15th of eac6 year. tau reoeips evide~ocw'g tLepayu~eat af all Iawfully unpored taua fw t6ap cdaodar year, aad b deti~~ to saKi Mo~t~gae. receipes evklencinS the parwedt af all lkas Eor bUc (f0~days aEt~ ths uma sba11 beoans dne audp P~ ~b vrfth;n ninetY ) um ayab~'0. and topa Y oc diicharge writLin ainetY (90) ckri after ciue 3ate~aaqr wd all gove~nmautal lebf~ Ehat way be m~de oo.tbe murtga6ed Pro~~ty. oa lht: mo~tgage oc nc+te. ar ln s~? at6er w~y nsultiog fmm tM Mart~sSe indebeednees ~ecared bY t1~ and if t}~ oonduioa be not oom wltL and performed. a~id mo~tga~es may pny a~c6 ~m or suim whkh du11 bcc~us put oE tbe~~sornred by t6is~ aud sba11 ~ interat at the defauk r~te providad In ~aW paysbk moathly w~Hl paid or sdd 1?tatBaSee mU? dect tbst aid ~ dabt t6eieupon beoane due +wd payabk fortLwi~~r aobe 9. lt fs fu~er oovec~r.tal.and agrend by atd partie~ t~at iu ths event of a toit beiag iostituted w forcclose thts m~tgaRe, tt?e Mortgagee shall be ratitkd to apply at suy tar~e pend'u~g sudi foceclosuro wit to tl~e oourt hsving Jurisdiction t6ereof for tLe appo~ntment af a reasiver of all and singular the mortBaR~~cq . xnd of sl! the renta, incomes. Pm~tt~, iaues and revenues thereof, from wbatsoever source derivr~• sud thereupaa it_b hereby e~nxaly ~~covenan_ted and agreed that the caut shaD fathwith appotnt a receiver of said mortasged Prope~t~, al~ and singular, and a~ sucb ra:ts, profits. iss~es and reventte thereo~f, from wLatsoeYa~t sonroe 3erived, witli ihe usual po+vers ~nd duties of raxivers in like cases; ~ appointment shall be made by sucb oourt aa a matter ot strkt ri~t to the Matgagee, itt successors, , ~ represoc~tativ~a a ass~gns, and without reEerenc6 !o the adc~uary or tnadeqwcy of the val~e of the P~ ~~Y ~~8«1. or to the ~ ~~y or i~oivency of the I?lort~cago~, and that stx~h rent, profits, incane, issues and rerenuea ahaI) be app ' by such raceiv~er to the P+?Y- meat oE the mo~tSaSe indebtecia~. caats and cLarBes. aocorain8 to tiee order of such oourt. ~ 1Q If ~11 or any part of t6e p~perty or an interest therein is sold ar tmnsferred bY mortgagar witbout mortg~gee's prior aTittea co~uent, exrluding (a) the crration af s lien or encvmbraac~ mbordinate to this mat~age, (b) the creatioa of a purchasemoue~ securiry interest for t,~ouse}wld appltcnax, ( c) a transEcr by devtse or descent, or by ageratioa of law npau tha ~eath of a jant eenaat, o~ ( d) the grwt of any ~ ieasehold iaterest d thrce euso~ less not aoataining an option to pumhase, g~e may. at itsop decLro all tLe sua~s sa.urAd by tfiis morigaRe to be i~tely dne and payable. MortgaBee sl~all have wat ~such o~ptioa to aocdean~ if p~ior to iLe saZe or trander, : niortgasee and t~e pers~n ta wl?om tne oroperty is to be sdd or Mu~sferred ~eadi agreewent in writing that t~ee c:~cdit of such person is sat• ; isfactory to MortRaF.ee and that the inte~est gayeble ~ the swns secured by this matgaKe s6aI1 be at s~ch rate as Mortgagee sLall reqnest. 11. That in tLe event the premises herebY mortt~ged> or anY Pa*t t6ereof. s6all be condemaed aad taken for public use nnder tl~e povrer ^i eminent domaen, the Mortp,a~ec shaU have the right to demand that all damages awudod for the talring of or damaRes to said pcemiseR sha11 he paid M the Mortgagec up m the amount then unp~id oa this mortgaga and at the option of the iliorigsgee may be applied upoo ~ thr payux~nt; last payabk t~ereaa. , , 1Q. mo~tga~~r bi~cis himcelf not to erect or pertnit to be erected any new buiWings on the premiscs herein mortgaged or to add to , or prrnu"t to he added to any ~ the adsdng improvemeats thereon or_make any ~ a~ alteratioas in aaid impmveanents which materiall}. chaa~e the same or tbe use thereof. without the written cor~ent of the Mortgagee in the avent of any violatioa or attempt to violate this stipulation this noortga~e and ell sunt secured hereby s6all immediately becou~e due and cnllectibk at ths opclo~ af t6e 11~ortgag~ee, s 13. It is specificaAy ag~eecl that tiine is of- the essenee of this co~tract and that ~ waiv~er af any ob ' tia~ hereurxler or of d?e obligation ' ~•umd herrby shall at any Hme be Leld to be a waiv~er of the temit heceof or o£ the iustrument seau~hereby. _ 14. If forecioaure proc~u' gs of anp seconci mortBaRe or seca~d trust de~ed or an fi~nior lien of any ivnd should be iastituted. the Mort- on fia~ee may, at its aptiaa. immediately or there-after declare this mortgage and the edness secvred hereby d~ and payable #ortLwith, a~l ~nay at itx optian proce«1 to foreclose this moitgage. . i3. To the eactent of the indebtedness of the ~iortga~or to the ~iortt~~agee described berein or securerl hereby the 1liortga gco ic hereby sub~ogatod to the lien or liens and to t~e rights of the ovvners and holders thereof ~ each and every mortga~e lien or other ircUmbranoe oo the land described herein whirh is paid and/or satisfied 'm whok or in part out of the procee~s of the loan d~c~ibed herein or secured hereby and the re~ve~lieztt af said nwrt es, lieeu a other incumbra~xes shaA be and tha same and each af theq~ hereby is pre.~erve~d and sha~ ' pass to ancl be held by ihe 1Nortgagee as secnrity for the iixlebtedness to the l~tort~a herein desc~ibed or hereby secnred, to the atco~e extent tl~at it waild have been resenred and wonld have been ~~xacced to and becn held h~y aai~ed, trantferred, set over an 1 delivered unto the I1io b the Mortp~agee _h.~d ithe fact tha[ ~ rtga~ee y separate cked of atsi~nment notwitbstnndin he satisfied anci eaneeIIed of reeord,- it bctaR the intention d the-parties hereto that the same w;ll be sati~kd and cancelled of rceord by the holders thereof at or about the time of the teoorciing of this mortgage. . . 18. To pay ail and aingular the msts, charges and expenses, inclading lawyer s fees, reasonably iacuired or paid at any time by the ~1art- t;astce, becauce af Ltie fsihue of the !ltort~a or t perform. complg with and abide by each and every the stiP~ilati~s. a~teemeats, sonditiont, and cm~enants of s~id pro~issory note and ~ deed, or either, and every such paymeat shaD bear interezt from date at the ddauit eate pro- ~~ded in satd prou?issory note. - 17. Whena~ry amo~nt of to be pai3 bY the Mortga gor to th~ Mortgagee vuder the tern~s hereo~~ ahall be in defauh, or~shou:~ the \tortgagor default in any of the~ot er terms, provisions or conditioas of this Mortgage, thea and in that c~se the I?ior.'gagee anall }wve the riRht, without notice to d~e 1ltortgagor, to coUect and recrive from any tenant or lessee of said matgagtxl pranises tLe rents, istues and profits of the real ~,-hte hereby mortRaged and the imp~ovements thereon. aad to give pm~er receipts and scquittances thrrefor. ud after PavinR aIl commi~ of any ~tal agent collecting the same. and any reasonabk attorney s fees and ~ther n~ary eupenses incurred ~n co~ecting same. to app}y the proceeds of s`uch cdlectioas apon anp indebted~obligation or lisbilitY, oE the MortSaBor t~ereunde:. 7'he eip,ht ~anted tbe Mortgagee ~mder tbts parap~raph sfiaIl be in addition to, and n~ Nmit or restrict, any other right or rights ~;ranted the ~tort~aAee in this I?'lortRage. _ ' l8. If the I1~ortgagors at the time of makinq this rtorigage or subssv~ueat d?ereto teloe ont life insarance desig~ating the 1ltortgagce herein 'F :~s tieneficiary with a com aPPraved b tLe 1?lortgagee or assigas poticies bo the I?~ortga for tt~e purpose ~ securing tbe mort~age ban e herrby secumd, then the iortgagee shaD ve the right to pay anv premium aceruing er said policies, and all sums so ~pended shaA be ecome j added to and become a part of the pri ~ndebted~ss secured by this Mortgage aad shall be paid.by the 1?iortgagor to the 1?~ortgagee ~ in twelvee~ ual consecutive monthty ias ta, the 8at montWy instatlmeot to be paid as a part of and 'm additioo to the monthly gayment i due under this !liartga~e in ihe fi~st calendar m~th following the ezpendinA of said sum. Such sums so cKpended'to bear interest at the rate ! at whirh interest is payable upan said principal i~ebtedne.ss and the lien of this biortgage shall eateixl to and secuce the s~mu so espmded E to~ether with interest thereo~n as 6ereinbefoie'providod. ~ 19. At mortgaqee's aptioa, toget~h~er with and in additian to the monthlypa yment of rincipa) and interestpa rable under the tsrms of the E note seti~red herebY, Morts~tto: shallpa y to ~i~rtp,agee eac6 month until said note is pa~d. one-tweI~th (1/12) of a sum ual to the ~ th ec~ ~ annaal premium due for fire, extended coverage, and other 6azard insurance including iaruranoe cmering the mo~rtgaged Praperty. plus taxes and acse.ssmeats ne:t dne an the mort~a8~ ~*oP~Y (s~ ffi~~ted by MortBaSee) I~S all su~ already paid t~e~for, and to be ~ divicled by the num~ of months to elapse prior to the date whea snch tazes ai~ci assessments shall become deliuquent. Said sums shsll be F heki hy ~tortgagee in tnnt or crediteci to the principal of the loan. to pay said 'uuuranc~ ta:es, and assessments antl shaU be applied an the ; ~ payvient thereof when 3ue. My ~cess held in tnut 1ry Mort~aKee when said loan is paid in full shati be paid to Mo*tga8or> or }us assip,ns ` E or persona! representatives. In the cwent of a default or fonrlosure. said sumt held in tnut may be applied on a~y costs of damages sustamec~ f , in connrction with ~~e eoDectim~ of the note securrd hereby whether hy sait foreclasure, or othenvise. Mortgagce may from tia~e to time at G itco~l~nn w-aive, and aftcr any such waiver, reinstate any or aD provisions ~ereof requirtng such deposits, by noti~ to Mortgagor ia writing. ~ ~t'i~ile any such K~aiver is in effect, «ortRaXOr sha11 pay :axes, assessmeats and ias~rance Fdemi~ma as nerein elsewhere provided. i0. Mortga~+or shail rnmplp with the ~rovisionc ef any lease, if this mortga e is on a 1r~sehold. IE this mor;~e is on a candaminimn ~ mortgaAor shall pedorm sIl of modAagors obligations under the declarati~ ~ rondominium or master deed, ibe bY-laws and regulationi~ ( the concior.~inH~m project and ooatitituent documents. 11lortstaROr further_ covenaats that he and the as.wciation ibk far the operutiao .-,o u ! of the condominium wiD oluerve al! of the provisians of the said declarafion and ar~ amendments thereta, and the Condominium Iaw of i the state, and w~ill perform all obliRations thereunder, and a failure to do so w~ich is n~ eured withtn 30 days after notioe ~ven by the Mat- " aas~ee to ihe mortgagor and the said acsociation shsll conctitute a default under tl?js mrntgafte. Mortgagor futther specifically covenants, bnt not ~ ' by way of limitation. that he and the assnciaHon wiD o5serve all of the prm~isioris of sald declaratiou of condominiom relatinR to insnranoe ~ t co~~eruge. . ' ~ 22. Mortgagur iu:th~r cavenants and agrees that at the rr.auest of I?fortRagee to fumsh a atao~lard termite bwd insuring a~ damage E hy infestation on the buildin~s now or hereahec located on the ~ortga8ed Praper~y. in su~ amoc:nb and ternLS, and with sccb canpany as mo E approved and required by ~iortqa~Cce; and in t6e event Mortgagor dces not comlly with this oovenant Mortgagee s6a11 hav~e the same rip~hts ~ to obtain same as insurancc caverage tudEr covenant #3 htreaf. ~ ~ 22. 7~at in the t•venE that this modRa~e is given to secure a oonst ruction Ioan, fallure on the part af the 11~ortgagor ar the b!ortgagoi s ? contractor, architect, engineers. os svb-ctmtracton ta a~mply with the termi of tl~e Comtructioa I.oan A t of even dr.te herewith, F whic~h is by reterrnce ms inoorporated herein, shall, at tLe opHon of the M o:t~cagep, ca~tute a defanlt er. ; ! ~ E 23. If the mortgaged pr~nises ft osher than a one to four family dwelling,~the Mort~agor rovenanb mnd ag~es that he will. not Iatei~ ; than thi*tY (30) days after tLe end of the fikal year fumish un[o the Association a oomplete and aocu~ats balance s~eet and profit and loas ~ state:neut ~Ekx.~ting the MortF;agor's tiabil•'ties as wel~ as grofit and loss for the f~is~ca) year, and such balance sheet and profit and lact state- ment shall be prepxred by a oertified publk ~tant 1~cemed ia the State of t7aid~. and ~ be catified as heing cortect by such ce~ti- i fied public acoountant. _ r f , t _ - 1:~ - --r`---- . _ ~ r , s '~~r~~~~~~<-~ "`nsr , - ' - - - - - ~ _ - - 1~~ ~'e'."~~'~"~ ~