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Home My WebLink About0535 tender'to the Mortgagee in accordance witl? the provisioiu of tlie nol~ eecu~ed 1?ereby. full pav~~ien6 oI tha en~irs indebLednea repn~ented thereby, the Mortgagee, .ae ttuslee~ shall~ in oomputing the ~mount o[ such indebtedaess, crectit a cl?e accounc ot ~he Mortga~or anv credit balance remau~ing unde~ the pmvisia~s of (a) ot said paragn ph 2. lt there sli~ll be a dafault under aay ot tl~e pcovieions of this mortgs~ sesulting in s puWic sale o[ the preioisea covered herebv. or if the Morlgagre scquiros the pmperty otteerwise afte~ default. the Mortg~gee, w truatee, shsll apply. at the tu~ie of the can~nencement ot such proceeding~a or at tlie time the properiy is atherwise ecquiced~ the sinount 1~!?en re~u~ini~g tu credit ot Mongsgor under (a) oi paragrapl~ 2 pretxdwg a~ a credi~ on the intereeC accrued and unp~?id and lt~e b~lance to the princip~l thea reinaintng unQiud on said not,e. Hs wIU py? all tua, aeeeeeu~enta, w~?ter r~?t~es, and oWer vernmeatal oe meidciP~1 ahkl~a. 80~ or imPodtiop+s, fo~ whiob provision Las not been m~ds 1~ereiabefars, ~nd~ detault thereot tLe Mort~ee m+4Y P~1 ~ rms; and tbat ha will PtomPtl,Y deliree the o~ci~l raoeipts tt~eretor to ~ha Mort~gea b. He will periait~ o~mmit~ or suQer no wast~e, impaironeat or det~etlorstioa of said p~operly a thereoi aocoept reasonabk weu aad t~s• aod In the evet~t ot tbe tat~ure ot tbe M~t~or Lo iceep t,6u b~ an ~ pramisee and Waee to be erect~e~ oa eaid pnmiuo~. or improv~enta t6ereoa, 3n good npair the Mortga~ee may malcs sneh repairs ~s ia its dieeretioa it may deean neoeeeary tor the~~roper prescrvation theceo~, and the full a~aount of oaeh and everl? euch p~ymeat ahail bs due ~nd P~,Yabk thirt3? t~u) dsys stt~ dem~ad, aad ~hall bs ieeured by t6e liea ot t6ts nnort~e. 6. He will pay aU and singulu the oosts, chargee, and expenees~ inclndina reasoasble l~wyer'~ tee~, ~nd ooets of ~bst,cacta ot title~ mcurred or paid at auy time by tbe Mortgagee bepwee oI t6e isilure on tbe part of t,he M~ pmmPtly a?nd I~r to pestorm the sgceements aad oovensnta oi said p~mi~ory not~ md t~ia mort~sge, said ooecs, c6argea, and expensee ahaU be immed;acely due and peyable and ehall be eecured by the lien oi this mortga~e. 7. He wiII oontiauoualJ maint~sin has~rd iasuranoe, oi such tijpe or t~pes snd amounta ae Mortgagee may tmm time to time reqaire, on the improvemente now or hereatter on eaid premises and eucepL when p~yment tor sll such premiums has tLeretofore been made und~er ~(a) oi psragca,ph 2 hereof ~e vvill psy pmmptly when due anp premiuma therefor. All inaun~noe a6s11 b~ d~tried ia oompanies spprove~ by Iaiari~gy~ee and Wa poli- c~ies and renewale thereo! shall be held by Mottgagee and 6stie attached therato loss p~yable clsuses in isvor oi and ia fonn acceptsble to the Mortgs~ee. In event oi bas he.~11 Bive immediate notioe by mW to Mortgagee, rnd Mort,gagee msy make .proof of Ioaa ii not mada pmmptly by Mortgagor, and esch insuranoe ~ompaay ooncerned ia heroby~suthonzed and directed to mshe p?yment for auch loea directly to Mortgagee mstesd of Lo Mortgagor and Mortgagee ointly, and the inautancc~ proceeds, or any part thereof may be ap- Flied bl Mor~ uran g~gee a~ its option eitLer to ~e reduction of ~he indebtednees hereby eecured or to t~6e restor~tion or rapair oi the pmperty dama~ed. In event oi farecfoeure oi t~hia mortgage or ofber t~snsier of 'tiWe to tha mortgaged property ia extingu~ahment oi t6e indebtednees secuced hereby, a~l right, 4tle, and intsreati of tbe Mortgagor m and to sny insurance policies then in force ahall p~ss to the purchaser or gi~sntee. 8. If the Premis~•a, or nn~- pnrt thcrnof, be rondetnned w~der tl~e power of eminent Joina~n, or acquired ior a public use, tlie clameges awarclecl, tl~r proe•e~ds for tl~e taking of, or the eonsicieration for suc1~ aequiattion, to tlie eatent at tlie full an?ount of Ute ren?aining unpai+i indeblr~tness serurccl b~• this n~ongage, are liereb~- assigned to tl« ~iortgagce, unct hi.4 I~cirs or as.si~ns, und shntl t?c~ paid lortt~with to saict Nortgagc~ or 1?ia ass nee to be applied on ar~•ount o( the Iost ii~uturinK installiuents of suc•h ir~debteclness; provicled~ however~ tl~e~ortg~;ee or his asaignee~ ~~ia~- at I~is disc•ri•tion pn~• dinK•t to ihe Vlortgagor, his lieirs or as.4igns an~ part or all of sucli award; provuled, tl~nt if the loass is ~uarunt~cKl or insured, the conaent of che guurantor or insurer is obtained in advance o[ said pa~•meut. - ~ 9. The Mortgagee may, st any time pending a suit upon thia mortgage, apply to the oourt hsving juriedictioa thereof tor the appointment of s reoeiver, and such oourt ahsll forthwith appoint a receiver"oi the premises oovet+ed bereby sll a~d aingular, including all and singular the income~ proSts, ieeuea, snd revenues lrom whatever eouree derived, each and every oi which, it being expressly understood, is fiereby mortgaged as if specificaUy set forth and described in the ~ranting and habendum clsuses hereof. $uc6 appointment ahsU be made by s~cch oourt se an sdmitted equity and a matter of absolute right to asid Mortgagee, sud without relerenee to the sdequacy or inadequacy of tbe value of the property mortgsaed or to the eolvency or insolvency of said Mortgagor or t:~e defendants. $uch reat~ pro6ta. income. iffiuea~ and revenuea ehall be applied by euch receiver according to the lien of t,hia mortg~ge and tbe prsctioe of euch oourt. In the event of any default on t~he part of the Mortg~gor hereunder, the Mort~or a~e~es to psy to tl~e Mo on dem~nd sa s maaonabk montiily rentsl for the premieea aa amount at leaet equivslent to one-twetith~ ot t6eag~ega te of the twelve monthly installmenta p~yable in the then cunr.at year plus the actual amount of the anauai tsuea, ssee~mente, wster ratea, and inauraaoe pteminms for such year not oovered by the Aforeasid monthly psymente. ~ lO.In tLe event of any b_*each of thia mortgage or defsult on the psrt of the Mortgagorf or in the evmt t6at sny of said auma of money herein refen+ed to be not promptly aad lully paid acoordu~g to the tenor hereof, or in the event that each snd every the atipulations, agreements, oonditions, and oovenanta of esid note snd tbis mortga~e, ~ are not duly, promptly~ and fully performed; then in either or sny auch event; the said aggregste sum meationed in aaid note then remaiwns unpaid, w~th intereet accrued to thst time, and all moneye eecured hereby, shall beoome ~ due i?nd psysble fotthwith, or thereafter, at the option of said Mortgagee, sa (ully sad oompletely ae if ~11 of the eaid suma of money were origtnally stipulsted to be paid on such dsy, anything in said note or in thia mortgage to tLe oontrary notwithatanding; sad thereupon or thereafter~ at the option of eaid Mortgag~ee, without notice ~ ~ demand, auit at law or in equity, msy be proaecuted ae if all moneys eecured hereby had matured prior tu.ita inatttu- tian. The Mortgngee may foreclaee this mortgage, ea to the amount eo declared due and psyable, ~ad the aaid premieee ahall be sold to satisfy and psy the same together ~rith ooste~ expenaes, and sllowsncea. In caee of parti~l ~ forec~osure of tbis mortgage, the mortgaged premises shall be eold aubject to the oontinuing lien of thia mortgsSe tor the amount of the debt not then due and unpaid. In auch caee the provisions of thie paragrsph may agnia be ' avsiled of t6ereafter from time to time by the Mortgagee. ~ i l. No waiver of any oovenaat berein or of the obligntion eecured hereby shall at any time thereafter be held ~ to be a waiver of the terma bereof or of the note eecured hereby. ~ 12. The lien of this inscrument eball remain in full foroe and eHect during any poetponement or extenaion of t,he time of psyznent of the indebtedness or any pnrt thereof eecured hereby. , 13. If the Mortgagor default in sny of tbe covenante or a~emente contsined herein, or in esid note, then the ~ Mortgagee may petiorm the aame, and all,expenditurea (including nsaonable attorney's fees) made by tbe MortgaRee ~ ' in eo doing shall dcaw interest st the rate provided for in the principai indebtedness, snd ahall be repsysble ' t6irty (30) daya after demsad~ snd, together with interest and costs eccrued tLereoa, shsll be secured by ~ tLis mortgage. 14. Upan the requeat o! the Mortgagee the Mortgagor shall eaecute and deliver s supplemental note or ~ notea !or the sum or awns sdvsnced by tbe :~iortgagee for the alteration, modernization, improvement, main- ~ tensnce~ or repair of said premises. for taxes os es.~esaments against the same and tor any other purpose author- ~ ized hereunder. Ssid note or notes shal) be secured hereby on a parity with snd sa tully as if the sdvance evidenced tbereby were inciuded in the note 6rst described sbove. Said supplementsl note or notes shsll bear 'snterest ~t the rste provided tor in the principal indebtedness and shall be psyable in s pro~imately equal ~ monthly paym ents for such period as may be agreed upon by the creditor snd debtor. Fa~ing to agree on the ~ mat,nrity, the wbole o! the sum or sums so advenced s6a11 bc due and pa~able thirty (30) dsys siter demand ; by t~e creditor. In ao event shall the msturity extend beyond t6e Wtimste nsturity of the nc?ta firat ~ described ~bove. ; sooK 2~i ~ ~~~E 53~i - ~f ~ _ . _