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Home My WebLink About0550 • ' . . t • t,eader w the Mortg~gee i~ ~ccord~nce with the pcovl~Wi1~ O~ a~v QO~P iCCNCE(I ~ll~NNbY, ~uU piyi~ien~ ot ~he entire indebl~dnas ropre~ented theoebY~ the Mortgagee~ a~s trustee~ shnp, i~ computing ihe ~u~oun~ ot sucli iwdebiedaas. crali~ w tlie account ot tl~e MortgaRor any credit b~?l~nce remaining unde~ the pmvisio~u oi (a) ol said ~ph Z. there ~hsU be • detaWt under any o~ the provisioru o! tliis ~nortga~e r+esulting in a puWic sals o~he premi~ea covered heteby~ or it 1,he Mottgagre acquir+es the praperty otherwx~ after default, the Mortg~gee~ as trwt.ee~ shaU apply~ at the ~inie ot ihs coin~nencement of such proceedinga or st tl~e time ths property r otherv?Me ~cquind~ the unount then r~u«ir?ing io credit ot Mortgagor unde~ (a) ot psragnpl~ 2 preoeding as ~ credi~ on tha interrst wccrued and unpaid ~nd the balance to the priacipal then ren~ai~iing unpaid • oa wid not~. . 4. Se wtlt pyr ~q t~e~. ara~menh, wuLec rot~. aad o!!?e~ pverame~tal or muaiclPal char~es, 8ae~. a iIDPaitiao~„ ta w6ioh peevLicn ~s no~ beeo mads beedabeias, rnd ia detaulL thereot t6s Mort~es ma~Y Pq? t~6s Mms; aod tLnL hs will p~oa?pt~r delive~ t~Ls oici~l reeeipt~ t6ereioe to ths Mortp~ee. !i~ Sa will peranit~ oommit, ur adCes no wasfa, impsirmeaR o~ deto:ioatio~ of N3d p[opear~y ac ,~p?r t~6ee~eot ea~oept re~soaabk ~rear and t~eas• ~nd Ia t~he eveat at tbs iiulure at the Mo~~oe to keep tbs b~wkitnp~ on aai~ premiees ~ad tho~e to bs ereate~ on wid pcemi~ee. ar ionprovemea~a t6e:eoa, 3a-~ood np~ir tbe Mo~etp~ee m~,y make suoh repairs a~ ia ita dlsoi+etion It m~y deem neoeerary tor t6s~~copes preK:~vst~ t6eeeo~ aad tbs fuU amount ot each sad every wc6 pyrmant ~6aU bs dns ~ad P,1?~b~s tbi~t7 (~p) d~y~ Jt~e~ dem~nd, ~ shatl be ~eoured b~? tbs lien ot t6i~ mortp~e. _ 6. He will pyr all ~od sinaular !he oosts,~~~ and e:pemse~. ineludin~ reaao~nabk 4wyer'~ fee~, aad oo~ts oi sbstesob of title, ineurred or p~id s! wy time by tbe Mort;aaee baauee of Ws failure on tbe pat! ot tbe Met~r ~ P~'~mP~Y sad iu1~? to perform tbe a~recmenLs aad eovenaats ot eaid promisorq noLe aad tbid mo~t~ge, snd asid ooets, ehsr~e~. ,?od expenses ehap be immediscely due und payabb snd abssll be .ecured by ebe tiea ot tlus' mo~e. 7. He wiil oontia~u~j maintain hwrd ~iosuranoe, oi such ti;~pe or t~pes snd uanounts as Mort~g~gee ma~ irom time to Wiae require~ on the itnpmvemente now or het+eatter on asid prsmises and exoepti whea gqrmen~ tor ~Il such premiums has theretofore been made under (a of psragr~~L Z hereoi ~e will pw promp~,~y when due an~ premiums thosefor. All inauraace shatl be ~ in oomP~ ~PP~oe~ by I?iotga~~ and tfia poli- eies aad reaervaM tbereo! s6aU be held b~ Mortgagee snd 6ove s~tac6ed thereto bes p~yabje cTsuses ia tavor ot aad in form aooeptabb to t6e M In event of toes hs ~ril! give imaaediaLe notioe by mail to Mortgsgee, and Mortg~gee msp make ,prooi~ ii not made prompt~y by Mortgagorl and e~ch insursnoe o~mpan~ uec y concerned is bereby~ aut6onaed aad directed to mske psymeat for euc61oes du~ectl to Mo ee mstead oi to Morigagor sad Mortg~gee 'ointly, and the insuranos proceeds, or any part thereoi msy be ap~ ' by Morb- g~g~es at its optiop eit6er to ~e reductioo oi the indebtedne~s hersb~ secured or to t~e resto»t~un or repair oi the property damaged In eveat oi toreclosurs oi t,his mortg~s or other 4~aster oi title to the mortgaged pa+opert~ in extinguia6raent oi tlie iadebtednees eecured Lereby, a~l righ~, title. ead inf~erest ot tLe Mortgagor w sad to aq~ insunnce policies then in foroe abali p~s Lo the purchaser or grsntee. lf ihe preroisea, or un~ purt thernof. be c~ondemnecl un~ler th~ powPr of en~inent don~aia, o~ acquirnd tor s public usr, tl~e daiu~;es awarclecl, tlie procrecls tor t1~e taking of, or ihe consiciecntion tor sucl~ acquiaition~ to ti~e extent the tull a~nount ot~ Uie remaining unpaid indebt~dncss sec•ured b~ tl?is inortgage, sre !?ereb~• assigned to tl~e Llortgsgcc, en~l his~ I~eirs or uss~us, nnd shuU hc~ puid forthwith to said :~tortgagec? or 1?is asa nee to be applied on acrow?t o! ihe tast u?uturu?K instalLurnts of sue1~ indebteclnrss; provided, howPrer, the~oM~ ee or h~s nssi~nc~~ ma~ at l~is discrntion pa~ dinti•t t~th~ Viortgagor~ his l~eira or ussigns an~ parl• or all ot sucli swunl; providecl, thut if the loan is guurunteed or insured, the consent of the guarantor or insurer is obtained in advance o[ said ps~i~?ent. , 9. The Mo~rtgsgea msy. st any time pendin~ s suit upon t6is mort6~8'~. ~PP~Y to the ooust lisving jurisdiction t~ereof for the sppoiatment of s reoeiver, and sucb oourt shall forthwith appaint s receiver of tha premieea oovered hereby ~il s~d singulsr, includin6 all snd singular the i~onue, P~~, sad reveaues from wLat~evar eousoa derived~ each sad eve.y of which, it being ~xpreaely uaderetood, is henby mortaaged as if specifically seti forth and described ia the gantin6 aad habendum cLusea hereof . 3ucl ?ppolntmeat ahaU be a~de by auah oourt as aa admitted _ equity and a matter oi sbsotute rigdt to eatd Mortdegee~ ~nd without r$terenoe to the adeqw?ay or iqadequs~y ot t6e vslue oi the pmperty mo:t~d or to tbe eolveney or insolvency ot aaid Moreasgor or t~ae defendaate. 8uch reats, pcofits, inoome, isaua. aad ceveauea absU besp~ ed by such reoeiver aooordiaa to t6e lien of this mortg¢ge and.the practice ot such ouurt. In the aveat oE aay defsult on tbe of tlre Martga~or hereunda, tbe M sgrees to WY to the M on dem~ad aa s rtas~n~e mont~y reatal for t1~ preanieea aa amoun~ a~ equivdeat to one-twelf tb~ oE .tbe ~te d the twelve monthly inatallmeots payable in tbe t~6en c~uranL year phie the actusl amwunt o tbe aan taxes, a~8smeats, wster rstes, and in~ue~noe premiume for s~ year not cor~red by the doressid monthlY P~Y~~ 10. Ia_tba event of my bse,ach of tbis mortgs~e or defaWt on tbe psrt of the Mo ~ or in the event that aay ot se~d sums of money he~t~eia~ referred to be aot prompt~y aad fully peid according to~t e~tenor hereof, or in the event that each and evezy the stipulstions, agreementa, condit~one, sad oovensnts ot aaid note and this mortgage. ire not dulY, Pro~PuY. and fully pedormed; thea in either or any euch event~ t6e esid a~gregate aum mentioned . in se?id noLe tben remainin6 unpaid, wit6 intetest aocrued to tlwt time, and all moneya secured hei+eby, ahalt beoome due snd pryabte tort6aitb, or theresfter, at tbe option of said Mortgsaee, sa fully sad oompletely ~a J all oi the , ssid sums d monty wen originally stipulited to be paid on auch dsY. snY1,6iDB in said note or in thie mortg~age to the oontn~ry notwithstsnding; aad t6ereupon or theseatter. st the option of eaid Mortgagee, without notice ar demsnd._suit st law or in equitj. msy be proeecuted aa if all moneys secut~od bereby 6ad msture~ prior to ita institu- tion. The Mort~sgee may forecloee this mortgage, aa to the amount so declared due aad psyable, and the ssid premiaes shall be sold to sausly sad p~y the aame tAgether with ooata, e:penees, aad atlowaaoes. In ca,ee of partial ~ toreclos~ue of this morta,age, the anortgaged premiaea e6a11 be aold rubject to the continuing liea of thia mortgage i !or tbe smount ot the debt not then due and unp4id. In such e~iee !he pe~dvieiocs of this paragrsph may again be svailed of thereafter trom time to time by the Mortgagee. ` 11, No waiver of any ooveasnt berein or oi the obligstion eecured-bereby shsU st any time thereafter be heW to bs s w~iver ot the terms hereot or of t6e note eecured hereby. 12. 1Ue lien oi this iastrument shsll remain in full foroe and eHect during any postpoaement or extenaion of the t3me o! paymen~ oi tbe tndebtedneas or any part tLereof eecured h~reby. t:i. If tbe Mort~or deisiilt ia any of !he eovenants or ag~eements oontained herein, or in aaid note, Lhea the Mottg~gee msy perform the eame~ e~ad aU ~acpenditure~ (including r+eaaonable sttorney's fees) made by the Mortga~ee in e~ doin ahall dnw interest it the nte pmvided tor in the principal indebtedne$s~ snd shap be repsyabla thirty (30~ dtys a[t,er dem~?ad, and, together with in~erest and costs accrued thereon, shsll be secured by Wia mortg~ge. 14. Upon Lhe requeat oi the Mort~agee the Mortgagor ahall e~cecute und detiver a supplemental note or notes !or t,be sum or sums advanced by the 4lortgagee !or Lhe alteration, modernization, improvement, msia- tenance, or repair oi said premises, tor taxes or assessments ageinst the same snd for any other purposc sut~hor- ized hereunder. Ssid aote or notes ahall be secured hereby on • parity with and sa tuily as ii the advance evidenced thereby were included in the note firat described above. Said snpplementsl note or not,es shall besr interest at t6e nte provided !or in Lhe principal indebtedness snd shsU be psysble in ap proximstcly equa! monthly payments tor such period as msy be sgreed upon by the crec~itot and debtor. , Fsiling to agree on the m~Lurity, the wtale of t6e sum or suma so advanced shall be due snd p+yabl ~ t~jr~, (30) d~ys after demand _ by t6e credito~. In no event a6at1 the maturity sxt,end beyoad tbe dltu~~lt~d~urity oi t.6e note first d~cribed above. ~ • ~~Ai~ir~ ~i . ~ . ~ . - _ - v _ - - - , - - - .