HomeMy WebLinkAbout0565 ' 8. 1[ rlorlgagot tails to i~uure Uie pmmucs, oc to {~:.y and lurnis}? recespts (or ail laxr~ and a~ey,u,.•nts, ur to r~~y i~ 1,~s.
cl~ims. ur other ch~rges for ~r~in und ~mpruve~neuls, or tu k~tip the pr.•m~u, in ~;~xxl ~•a~~Jitiou. .~nd n•p.~ir. ~ll :,s ~uu~•~d~•d I~~ ~a•in,
~luctti:+~;~~r may bt his opt?on pn~euce such ~ruuranc~. pay ,,uet~ {~xes anJ a,~cti,in~•~~t+, re~!••c?u the pro{x•rty (r~., , auy ta~ ,:~1~~. P~uc•u~.•
,~u•h r~~ipts, or cntrr upon the p~rm~~s and nu~ka• suct~ mp:~~rs as hr ~n:~~• d~•cm uayca+a~y; an~l 111ortbagor sh..il pay to ~loit~;:~ti~r ull
~uins whrch hc +hall have so paid, to~cQ~cr vvith ~ntcrest themon at lhe I~:tih.•.~ i..wful r:~tc prr auuum Irom the da1~ tha• ..,me w•:~s
p:~id. and for puyinent thc~eot. tl~is mortg:~Ce shall +tanJ :w sccurily in l~k. ni.~~uicc .~~ul e[t~rt as lur the payment of thc ind.~ht~~cln.•.~
re(crr~~i to alx~vc: bul the failurc oi B~ort~;ug~~t to ~.ru.•un• such i~~.+~u-au.,~ tu }?:~y se~rh taxa~ aiu! ;ux_~vn~nt~c, to ndcti•m thr ~~ro~x•~ty
[rom any tax salr, o~ to make rep:+~rs stwll in no w..y r.nde~ 1Nortga~;.r i~.~tde to 31,u-tb:,~;ur. If ~tur4;:~~'~ sl~ail cl~~cl to adv:u~..• ~nuur-
un~ti pnnuums, taxrs, or a~~mcnts, o~ ~~d~tim (n,~n lax sale, lhe n~cci~ uf thr i~~surunce cornpany u~ of the p~~opec tax utfuial shal)
Ix rnnclus~ve evidence of the umount, validity, und the fact ot payme~t thercot.
9. MoriRagor slti~ll pay to Mortgagee al! sunu, inclad?nR costs, cxpe~ues, :ai3 r.•:..wiu~Lle :~eut's or at~:irney's fees, whirh he
nwy expend or txv.~omc ubligatcri to puy in „~~y proc~~di~s. l~~gal or otherwix, to prnvcnt thv comn~:.,iun af v?•astc, to ~5tublish ar
sust~in the lirn oi lhis mortg:~r or its pri~.n~y, or to detcnd asainst liei~.c, clainu, ~it!hts, rsl:des, cu. , rnrnts, nr n~trictiuns, asscrtim;
pri~~iiy to U~is morlgage: in paymm~t. setU~mrnt, dischar~r. or rele:.s~ ut ;~ny .~~u•ii.,l lic~, claim, re;•!=!, ea-k::ttr.t, c~r rc~tririion m:..:.
uEx.n :nlvice of eompetenl counsel LL.,t the s»me is ~uperiur lo lhr licn ul tLis n:~ , i,;agr. lor title ~nsurance, abstrac~ .,f tllla or .•xtensiun
tha•n~ot• or in connecuon with any swt to ~•ntocr~ ur (o~.-~lose this morlgaRr ~rr to nvover any ,ums hemby securecl. Atl such sun~s
w pa~d by biortgagee st~a11 bear inten~st at the h~ghcst i,~wtul rate per :uu?um uutil paid, ai~d [or paym~•nt ot such su~ns :,nJ intrrrtit,
this mortga~e shall stand~ as scrurity.
l0. !n thc event damages am avrucdecl for the taking of alt~or any p.?ri of or injury to the pcrmises, wh~•thrr auch takin~; ~~r
injury I,e done u~.Jer the power o! eminint do~nain or othcrwise, all such damagcs shall l,c paid to Alortga~cti• tu bc ap(?lieJ aa a p:~y -
ment on account ot sucfi part of the indebledness securrd hereLy, as Mortga~~r may clcct, without :d[erting U~e amount ut time tor
paym.•nt to~ other installn~. nts required thcreun~lcr, wh~•tlicr or not said indebtedness is th~•n duc .and payable.
11. The total atnount o[ indebtedncss aecuraYl hor~•by m~y ~ler.rnase or incrrase trom time to time, Lut thc total un~aid h:~lann•
so secumd .~t any one tinir sha11 not exc~wd the origiu:.l princip:.l enwuut o[ ~he iudcl,t~dncas securti~l herrl.; plus ir?ten•st Lhrrcw, :,nd
any duburs.~ments macie tot the paymcnt of taxcs, icvies or i~uurance on the propecty co~en~d 6y the l~cn ot th?s mortK~t;c, N~th
interest thcntin; 5nd this r~:urtgage shall sccum any and al! add~tional or ~~irthcr monics M~hich may bc advanc~~f by ~lortga~;cr to
Mortgagor. or any one ot them i[ the~+e 1x• morr tlmn one, a(Icr the date hrrcwf, u•f~ich future adv;~nc~~s oF mu~~.•y, if made, s}iall lx
evidenccd by a note or no~es executed by Mortg:,gor, or any onc u( them i( thcn• mom than onc, to !1lortba~.•e ixarin~ such r~te of
intcrost a~uf with such maturitics as s}wil be dctrnnin~~ci irum timc to timc, Lut :,ny unci ali such futurc advanccy s~rund by thi,
mongage shall become payable not more than twenty (ZO) y~ars aftcr th~ date hereo(. Nothi~ig h~•rein contain~Yi shat! be d~~mt~ a~n
ol,li6ation on lhe part ot I~tortgagce to makc any tuturn advauc.r~.
12. Tfiat if any of the sums of moncy pay:.ble undcr ur securcd by this mortRaRc bc not hilly p:?id wh.•n thc s;ame bccomr
due and payable, or it therr be any breach ot this mortgagr or de(ault herein on thc {?art o[ hiort.:aGoi, or if ~ny tuv ~~ant or sti:su{:?tion
oi said p~omissory note und of this mo~ tgage is not promptly and fuUy pertorm~d, thrn m any an~i rach such event, tLe a~n~atc ~um
s~Y•ured hernby, exccpt unearned intci.•~t, less pre~ious payments, it any, sh:,{I, at thc oplion of Hiortgagee, ~r.ie due and payablc
tortl~with imntediately as fully and completely as if originally sUpulatrd th~•n to be pa~d, anything in saicLpromissory note ot in this
mortgage to the cont~a~y notwithstatul~ng; and thr~cupon, or thrn•aiter, at thc option o( \iortg:~giv, vrittwul noticr or J~•mand, swt ai
taw or in equity, theretofore or thema(trr begun, may tx prwcruted as if all sunu her. i~~ x~w-ed had matnr~d prior to i~~; institution.
13. No delay or failure ot Mortgagee to exercue any option herein gi~•en or reserv~Yl shalt const~wte a w:.iver of such option or
estop lUurtgagee Irom afterw:~ni~. rxenuing same or any uthcr opliun at any tim~• and the ~ti~ymer~t or contrar~~nK to E~.>• by Alurtga~;ce
ot anything Atortgagor h:~+ h.•rc~n agrcrd to pay shall not coustitutv ~ waivcr ot tlie drf..ulc oi hiung:+~;~r in tailu.g to makc s:~i+l
paymenls and shall not e~top Aiortg:~ee irom ton~alosing this mortg:,Kc on account of such fw~lure o( hlort~;agor. Th.• rig{ns, optiuns,
powrrs, and remedies herein providcd shall be cumut:.ti~~r and no one or more ot ~hcro shail be exclusive of ehe otteer or othrrs, or oi
any r?ght or rem~dy now or hereafter given or allowed by I~w,
1~. The granting to the maker u[ the notc, blorl};.~y;ur, or to any otl~~r prrwn o( an extrnsion or extensions of time ot payment
o( the note or any sum due utu~er or s~rcurad by this murtgage or the tak~ng of other u~ ad~l~tion:~l s~rurity tor paymrnt thercof, or
~t~aiver by biortgagee of or tailure to enforcc :u~y ~rotenaot or stipulation o( the nute or th~~ mortgu~;c or to drelare any dcfault there-
uE~der shall not operate aS a waiver of any sul,oryuent deiault or a[iect the nrht o( Diortga~~r to exercise any right her~•undcr not
ezprrssly waived in wnung, nor operate as a rrlea;~• from any personal Iiabili~y upon the nute or uncler awy rovraant or stipulat:on
ot lhe mortgage.
THIS IS A BALLOON MORTGAGE
~
i
'~i _
;
~
. . - . r,
I
~ IN WITNFSS WAEREOF. this mortgage has bren executed under seal by ~fortgagor thr day and year lirst :,bo~~e written.
I Si~ued~ ~!~lad~ C»'~ C~..°~::'C'~'C3 i~s' ~ZrinCE j:
[ - - ~
~ ~---i~--
~ , ~
f , -
' -~1>~~- - - ~ ~ _ rsEwi.~
% RE ~ E H. B RD,
I ~ ! / ~ d
_ ~
! / 1 _ ~ t/:. . ~ , • _ . ~ . cs~?L,
~ _ -
SALLY S. BYRD
; `
i ~
~ _ (SEAL)
i
(SEAL)
' - (SEAL)
~ ---_V (SEAL)
i ~,r i ~;i.:
_ ~ 2~~