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HomeMy WebLinkAbout0563 n ~ N ~ j~.3~~ ~9~"~ ~ ~ '!'O('ET~~R with all agricultural, horticultural and truit crops, now planted and/or growing, and hereafter planted, grown, or ~aised on the above described premises, and aA atx! singulsr the fixtures a rtenant thereto, which shall include. in w far as they now are or may he~e:.icer belong to or be used with the premises or any buil~ or improvements thenwn and whether attached or de- tached; all lighting, heatinB, coolin8, veniilating, air-conditioning, incinenting, sprinkling, and plumbing fixtures• irrigating, water, and power syste~ns• enginea and machinery; boilers, ranBes, furnace~ oil burners, oc units thereof• elevaton at?d motors; refrigcration plants or units; kitchen cabinets; cooking aP~ iances; wall beds: storm windows and doors; window a~ door screens; awnings; window shades; shrubbery• ru&s and carpetin8: and au ProPeKY now or hereatter a/tached to or reasonably necessary to the use ot the pmmises, all of which shall be deemed to be Cixtures and shall be part of the security tor the indebtedness hernin mentioned and shaU be rnvered by this mortgage; and togelher with al! and singular tfie buildings, imp~+ovements, ways, streets, alleys, pas.wges, waters, water courses, righes, liberties, privileges. easements, tenements, hereditaments. apd appurtenances thereunto appertainin8. and the revers?ons and remainders, rents, issues, and profits thereof, all oi the said pr~operty, whether real or personal, beusg hereinafter designatcd as "the premisea." TO HAVE AND TO HOLD the same, and all the estate. right, title, interrst, homestead. dowec. right of dower, separate estate, property. possession. claim and demand whatscever in law and in equity of Mortgagor in and to the same unto Mortgagee, in fee simple. forever. AND Mortgagor hereby covenants with Mortgagee thaE the Mongagor is indefeasibly seized of the said premises in fee simple and has tull power and lawful right to convey the same as aforesaid and that it shall be lawtul for Mortgagee at all times hematter peaceably and quietly to enter upon, ho1d. occupy. and enjoy the premises and everypa rt thereof. that the premises and every part thereof are free from aU encumbrances; that Mortgagor will make such other and further assurances to perfect the [ee simple title to the premises in Mortgagee, aa maq hereafter rrasonably be required• and Mortgago~ does hereby fully warrant the title to the premises and every part thenwf and will detend the same against the lawtul claim of all personc whon~oever. PROVIDED AL.WAYS and these presents are upon ihe express condition that if the Mortgagor shall well and lruly pay to the Mortgagee the indebtedness evidenced by that certain promissory note hereinabove reterred w and all renewals or extensions thereo[. together with all interesl thereon, as and when therein respectively pmvided, and pay to the Mortgagee such further sum or sums of. money, if any, as the Mortgagee may hereafter during the continuance of these presenis advance W the Mortgagor,- with interest on such furthe~ sum or sums Irom the time they tt~ay be respectively advanced at the rate provided for in said promissory note or notes evidencing such advance or advances, and sha11 per(orm, rnmply with and abide by each and every the conditions and covenants con- tained in this mortgage and in the promissory note or notes secured hereby, then this mortgage and the esWte hereby cceated shall cease and be null and void. i ~ Mortga8or further rnvenants and agrees as iollows: _ ' ` 1. biortgagor shall pay principal, interest and all other sums of money which are a part of the indebtedness secured by this ~ mortgage or are payable under this mortgage when due, whether in rnurse o~ under any covenant or stipulation of this morigage. All sums hernby secured shall bear interest at the highest lawful rate per annum after the same shall become due, whether in due course or under any covenant of this mortga8e; until paid. Upon payment of aH such sums Mortgagee shall, upon written demand of Hort- gagor, satisfy this mortgage at cost oE Mortgagor. I 2. biortgagor shall keep the premises in good condition and rnpair, reasonable Kear and tear excepted; shall not permit nor ~ perform any act which would in any way impair the value of the premises; sha11 not remove any fixture nor remove or demolish any building or improvement or cut or remove any merchantable timber located on the above described lar~d without the written consent ~ of Mortgagee; and shall neither rnmmit nor permit waste of the premises. ~ 3. Mortgagor shalt pay and discharge as the same become due all taxes and assessments that may acctue, be levied, or astessed ~ upon the premises or any pan thereof, or which may be or become a lien prior to the lien of this mortgage or have priority in payment to the debt secured hereby, or upon Mortgagee's interest therein or upon this moslgage or the indebtedness or evidence of indebtedness ~ secured hereby, without regard to any law heretofore or hereafter enacted imposing payment of the whole or any part thereof upon ~ Hiortgagee; upon the passage of any law imposing the paytnent ot the whole o"r a~y part thereof upon Mortgagee or upon the rendering by any appellate couct oE eompetent yuris,dietion of a deeuion that the undertaki.ig by Mortgagor to pay such taxes is legally inopera- tive, then the indebtedness hereby secured without deduction sha11, at the option of Mortgagee, become immediately due and payable, nota•ithstanding anything contained in this mortgage or any law heretofore or hereafter enacted; and Mortgagor shall not su[fer or p ^ ~7'cTi:Sc~, 4'v uc~:~u~r 'vT Ti~~.oii~ permit any such taxes or assesstnents on the said remises, or which may be or t~ern~*!e ?!i^:: c.. - ~ " ' ~ cirunquen~ or perm~t any part thereof or any interest therein to be sold (or any taxes or assessments• and further shall furnish annually to btortgagee, prioc to the date when they would become delinquent, certificates or receipts o: the proper ofticer showing tull payment of all such taxes and assessments. 4. Mortgagor shall pay all debts, claims, or other charges that may become liens against the premises or any part ihereot [or repain or improvements that may have been, or may hereafter be, made on the premises and shall not permit any lien or encum- brance of any kind which might become superior to the title of Mortgagee or the lien of this mortgage to accrue or remain on the ~ premises or ar~q pari thereof. 5. Mortgagor shall provide, maintain, and deliver to Mortgagee poiicies of [ire and such other insurance as Mortgagee may from time to time require in companies, form, and amounts satistactory to Mortgagee upon the buildings and improvements now or hereafter situate on the gremises, and shall assign and deliver to Mortgagee with satis(actory mortgagee clauses all insurance policies of any kind or in any amount now or hereatter issued upon ihe premises. Mortgago~ shall give immediate notice in writing to I1lortgagee oI any loss or damage to the premises caused by any casualty. Full power is hereby conferred on Mortgagee to settle and compromise claims under all policies and to demand, receive, and receipt for all monies becoming payable thereunder and to assign all policies to ~ any holder of the indebtedness secund hereby or to the grantee of the premises in the event of the foreclosure o[ this mortgagc or other trasufer of titie to the premises in extinguishmcnt of the indebtedness secured hereby. In the event of loss under any of the policies o[ insurance herein referred to, the proceeds of such policy shall be paid by the insurer RA Mortgagee which. at his sole and absolute discretion, shall apply the same, wholly or partially after deducting all costs ot collection, including a reasonable attorney's fee, either as a payment on account of such part oi the indebtedness secured hereby as Mortgagee may elect, without affecting the amount or time for payment of other inslallments required thereunder, whether or not then due or payable, or toward the aiteration, reconstruction, repair, oc restoration of the premises, either to ihe poriion therebt by which said loss was sustained or any other portion thereof. 6. The rents, inrntne, and profits oi all and every paR of the premises are hereby specifically pledged to the payment of the debt and all othFr obligations hereby secured. If default sha11 be made in the payment of the said indebtedness or any part thereof or in the performance of any covenant or agreement of this mortgage or of the said indebtedness, Mortgagee shall ha~e the right forth- w•ith and without notice to enter into and upon the premises, take possession thereof, and rnllect sa~d rent, income, and pmfils with or i without the ap~ointment of a receiver ar?d regardless of the adequacy oi the security or the soivency of Mortgagor, Mortgagor hernby covenanting that the appointment of such a rereiver by a court of competent jurisdiction. regardless of the adequacy of the security or k the solvency of Mortgagor, shall be a matter of right to Mortgagee. All such net u~rnme, after payment ot any collection, management, and attorney's fees, shall be applied Wward the payment of any advances made by Mortgagee or in reduction of any indebtedness, inciuding interest thereon, hereby st~ured in such manner or proportion as Mortgagee may elect. 7. Mortgagor, without first obtaining the written consent of Mortgagee thereto, shall not (a) assign the rents, or any part thereof, from the mortgaged premises, (b) consent to the moditication, cancellation or surrender of any lease of the mortgaged premises, or any part thereof, now existing, or hereafter to be made, having an unexpired term of one year or more, or (c) collect rents f rom the mortgaged premisea for more than one month in advance. - ' ~ 4~ ~<oU ~ a ~ ~9