The URL can be used to link to this page

Home My WebLink About0134 trnder to ti?e ~~lurtgu~;~~e in w•~•unlun~•~~ v?ith the pru~•iaiu~u+ c?f tli~ nut~• eucurrd I~ere~by, full pa~•nient ot tl?~ i enti~e indcblednesa repre~ented th~~rrL~v, thN hlortKager, as trust~•e, at?all, in ~•uu?puting thP an~ount ot suri~ indebtedn~ss, credit to tliP ac•count uf llu• ~lort• a~;or nn~• ~•rrdit balance re~nai~?iu~; und~•r the pro~•isions of (u) ot asid paragraph 2' If th~•r~~ shall I,e a defau~t uudPr uu~• ot ttie provisiuns ot tliis u~ortga~e rnsulting in a ~uhlir. asle o1 1hp prwn~ivt~u ~ov~~rFil h.~rti?v; or iI t}~~':41orlgagc~P ~~~utrea !!~e pr•+~?~~rtt otl:Prwise sIt!~c cle~sult, the I~lortg~ee~ ~sa iruatee, shall apply, at the tu~~e ~f the ~•omuiencNment o~ such proeeediuga or ut the Iiine the propert~• u~ otiierwise a~•yuired, thP auiount U~rn rr~i~ainin~ to ~•redit o( ~1ortKagor u~ulrr (a) ot psragrap)i 2 precedia~ aa a cre<iit ou tl~e iniHrc~t accrued anci unpaid aud tFte balan~•e to the princip~l ihen ren?ainin~ unpaid on said note. ; 4. He wiU puy a!1 taxee. saeessmenta. wster ratee. aod oWer tcovernmental or municioal chareee. 6nes, or i impoeitione, for which proviaioa hes not beea macie 6ereinbetore~ ead in detsult thereot the Mortgagee may puy the ~ eeu~e; and that he ~rill promptly deGver lhe official reoeiptn t6erefor to the Mortgagee. ~ 5. He will permit~ commit, or suHer no waste, impairn~ent. or deteriorstion oi esid property or sny part thereoi. ~ eaccept reseoneble wear and tear; and in tbe event of tbe failure ot the 1liortgagor to keep the buildinge on sstd premisea snd thoee to be erected on eaid premisee~ or improvemente thereon~ .in good repair, the Mortgagee msy mske such repairs as in its discretioa it msy deem neces~ry for the proper preacnration t6ereof, and the full amounL ~ oi each and every euch paymeut, ehall be due and psyable thirty (30) dsys Jter demand, and ehsll be aecuted by the lien of this mortgage. 6. He will pay all and aingular the ooete, chargee~ and ezpeneea~ including reseonsble lawryer's feee~ and ooate of abetracte of title~ incurred or paid at any time by the Mortgagee becsuae of the tailure on the part of t6e Morigagor t promptly and fully to perform the agreements and coveaanta of eaid promiseory note and thia mortgage~ snd eaid { oix-ste, eLargi~, ar~J rx~uara ahatl i~ i~nwrciiai,ely due and payable and sha1l be eecured by tbe lien of this mottgage. " ~ 7. He will oontinuously maintain hazard insurance~ oi such type or types end amounta es Mortgagee msy fmm time to time require, on the impmvementa now or hereafter on said premises~ and eacept when payment for all such premiums has theretofore been made under Za) of peragraph 2 hereof, he wiU pey promptly when due any premiums thcrefor. All insurance s6a11 be carrietl in companies approved by blortgagee and the poli- ciea and renewals t6ereof s6e?ll be held bv ~~ortgagee and have attached thereto loss peyable ctause+e in favor of and in [orm accepteble to the ~iortga~ee. In event of loss he will give immediste notice by mail to Mortgagee, and ~lortgagee mny make proof of ioss i! not made promptly by :1~lortgagor~ and each insurance c~ompany concerned is hereb authorized and duected to make payment for such losa directly to Mortgagee instead of to :1lortgagor and ~lortgagee jointiy, and t6e iasurance proceeds, or any part thereoi~ may be applied bp Mor~ gagee at its option either to the reduction oi the indebtednesa hereby secured or to t6e restoration or repair of ~ the property dama~ed. In event of forecloaure o! this mortgage or other transfer of title to the mortgaged pruperty in extinguis6ment of the indebtednesa secured hereby, a~ll right~ title, and interest of the Mortgagor in and to say iasurance poGcies then in force shall pass to the purohaser or grantee. !t. If lh~~ pr~•uiis~~s. ur un~- p:irt th~•m~,f. iN• ~•c?n~l~•iun~•~1 un~l~•r th~• ~ww•~•r of ~niin~•nt iloiuuui, ur u~•quir~•~i for -_u ~?ubli~• us~•. th~• ~luniu~~~s uw~erd~vl. tli~• pr~~~•~~~~~I, fur thr t:ikin~? of. or th~~ rcn?,idcrution [or:u~•li u~•quisition, to tl~~• rrt~~nt ~?f tli~~ full ui~i~?unt of tlu• r~•~neiiuin~; unp~~i~l inil~•1?t~•~lnrss ~~~~•ur~~~l 1?~~ this niort~akt•. nr~~ h~•r~l~~- u;si~:n~•~I tu th~• ~Iurt~uK~~~~. un~l lii• i~~~i~~ ur :~:.i~n~, :ir~~l •li:~ll (,r ~rui~l f~?rthN•ith to .~?i~l ~lortku}~~~~~ or I~i.ti n:,~Kn~•~• tu IN• xj?~?li~•~1 un u~•~•~~unt th~• lu.t u~uturi~~~ installnu~nt. uf su~•h incf~~btt~~ln~~~,: pro~-i~livl. h~~~~•c•~-c•r, ~ tlu• ~1urt~u~:~~~• ~~r liiti us~ikni•~~, n~u~- ut I~is ~li:~•n~tii~n },a~~- ~lir~•i•1 to tlu~ ~Inrtki~~;or. 1~~, h~~irs ur us,i~•u, ati~• ptirt ~x u(1 ~~f ,tu•li i?~~~ir~i: pr~r~-i~lr~l. tli~t i~ th~~ I~~:in i. ku:ir:~nt~•~~~) ur insun•~I. tlu~ ~•on,~~nt ~?f tht~ Eisairentor or insun•r i. uhtxinivl in :ul~•an~•~~ i?f •,u~l pa~•u~rnt. The ~tortgt~gee may, at any time pending a suit upon t6is mortgage, apply to the court having jurisdiction i thcrc~f for the appointment of a receiver, and suct? court shall forthwith appoint a receiver o[ the premises covered I hereby sl~ and singular, including all and singular the income, proSts, issues, and revenuea from whatever source j deri~~ec1, each and e~•ery of which, it being expressly understood, ie hereby mortgaged as if apecifically eet forth and ; descriF~1 in the granting and habendum clauses hereof. Such appointment ahall be made by such court as an admitted i equity and a matter of absolute right to said Mortgagee, and without reference to t6e adequacy or inadequacy of the ~•alue of the property mortgaged or to the solvency or insolvency of said Mortgagor or the defendants. Such ; rf•nts, pro6ts, income, issues, and revenuea shall 1Se appliecf by such receiver according to the liea of this mortgage ~ and the practice ot such court. In the event of any default on the part of the Mortgagor hereunder, the Mortgagor ~ agrecs to pay to the ~iortgagee on demand as a reasonable monthly rental for the premises an amount at least ~ eyuivalcnt to one-taelfth (~Z) of the aggrc~ate ot the twelve monthly installments paysble in the then current ~ year plus the actual amount of the a~ual taxes, asscssments, water tates, snd insurance premiums for such year ~ not covered by the aforesaid monthly payments. ~ ~ i~l. In the event of any b-eac6 of this mortgage or default on the part of the :~'Iortgagorr or in t6e event that ~ any of said sums of money herein referred to be not promptly and fuUy paid according to the tenor hereof~ or in the ~ event that each and every the atipulations, agmements, conditions. ancl coveaants of said note and this mortgage~ ~ are not duly, promptly, and fully performed; Lhen in either or any such event, the said aggregate aum mentioned - ~ in said note then mmaining unpaid, with interest accrued to that tiroe, an~l aU moneya secured hereby~ ahall become due and payable forthwith, or therea(ter, at the option of said l~iortgagec, as fully and completely as if all of the j ~ said aums of money were originally stiputated to be paid on such day, anything io said note or in this mortgage to j ~ the contra~rp notwithstending; and themupon or thereafter~ at the option of said Mortgagee~ without notice or f deriiand, suit at laa or in equity, may be prosecuted as if all moncys secured hcreby had matured prior to it.8 institw ~ tion. The ~Iortgagee may foreclose this mortgaRe, a9 to Lhe amount ao declared due and payable, and the said ~ premises ~hall he sold to satisfy and pay the samc together with costa, expenses, and allowances. In ca.ge of partial i ~ foreclosure uf this mortgage, the mortgaged premises shall be sold aubject to the cantinuing lien of this mortgage ' ° for tt~e amount oi the debt not then due and unpaid. In suc6 case the provisions of this paragraph msy again be E = availsd of theresiter from time to time by the tiiortgagee. i 1 I. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held ' to be a waiver of the terma hereof or of the note secured hereby. ~ ? 1''. The Gen of thie inscrument ahall mmain in full force and eftect during aoy postponement or extension of ~ the time of payment of the indebtedness or any part thereof eecured hereby. [ _ 1~;. If the 4iortgagor default in any of the covenant9 or agreementa contained herein, or in esid note, then the _ Mortgagee may perform the same, and all expendit»res (including reasonable attorney's fees} made by the 2~iortgaAee _ in so doinK shall draw• int~resl at the rate pro~•i~i~~d fc~r in th~ prin~ipal indebte~tn~ss, and sha11 be repa~•able y thirty (30) da}•s a(~er demand, and, together witl? interest and costs accrued thereon, shetl be secured by ~ thi4 mortgage. ~ 14. li pon the request. ot the ~tort.E;a~ee th~ ~iort~a~or shall execute and deliver a supplemenial note or > notrs for the sum ar sums ad~•anc~~l Dy the ~tort~;agce for Lhe alteration, modernization, impro~ement, main- tenance, or r~pair of said premises, for taxc~ or as,~e•ssments a~;ainst the same and (or en~• other purpose author- ized 6ercurr~rr. Said note or notes shall be secured hereb) on a parity w ith and as fully es if the advance ~ ' evidenced thereby were included in the note first described atwve. Said supplemcntal note or notes shall bear = interest et the rate pro~ idcd (or in the principal indebtectness anJ shall be payable in approximately equal 1 monthly pavm~nts for such periad as may be a~;reed upon b~ the creditor and ~lebtor. I~'ailing to agree on the ~ maturity, t~e wt~ole of t he sum or siims so ad~•ance~l shnll ~bc due and pa~•at,le thirty (30) days after demand ~ = by lhe creditor. In no e~enl. shall the maturity extend be}ond l6e ultimate c~aturity of t6e note first ~ ' described sbove. ; ~ - , , ~ _ . ' ' 1.~ ~ ~