HomeMy WebLinkAbout0337 ANa th~ soid Mo~tyo9o? h~reby coveno~ts and ap~ets with M~ :oid Mo~~poq~~ os folbws:
FIRST: Tho~ tM Monpopor is lowlvlly seised of tM obo~~ deur~b~d pr~mises in fe~ ~impls ond hci pood riph~ to ~ell ond
conv~y fh~ same to M?~ Mat~o~ee; ?ho1 the soid premi~es or~ fre~ ond dischorped of ond fran all taxes. tox titl~s o~ certificcte:,
judpmeoti, mechanii s liens ond encumbronce: of ony notur• o~ ki~d whotsoev~r ond thot ths Mortpapo? wiN fvllr worrcm ond
def~~d M~ some Io Ms Mort9oyee, a9oinst the tawful tlaims a~d demands oi oll p~rsons whanso~ver, ond will mokt iuch furMer
os~urontes to pe~~ect fee s~mple fitie to soid tand, i~ the Monpaqee, os n+or r~ose~noble be ?eqvi~ed, ond will poy Me sever~)
swns o/ nwney aqreed in rhe so~d oote to be poid ond all instollrnenls of principol ond interest Me?eon p~omptly when due, ond
occordin~ ?o Me tiue tena ond eRect of ths so;d note.
SECOND: Thot Me Mo?tqa9or wilt por oll o~+d sinqulor the ~oxes, ossessments, leviei, ond encumbraeces of eve?y noture '
on 1he obove described p~operty, ond upon this nartyoqe ond note, or the nwney s~tured Mereby, before delinquencr thereof
and receipts evidencinq poyment of said toxes, ossessmenh. levies and ei+cumbronces :hall be deposited w~th !he Mortgog~e on w
befo~e March Ist of eoch succeediny year during M+e ter~n of Mis nartgege; o~d if some be not promptly poid when due, Me '
Mo?tgagee mor (withovt oblipat~on to do so~ pay the some. or become purtboser of any lawFvl ev~dence thereof, o~ certifKOte ;
therelor, witAau! waiving o: atfecting ony riQhf hereunder and in this mortgege, or the soid nofe which fhis na~tgage secures; ond i
iuch poymenh o? expenditv?es so mode sholl bear interest frorn the date therepf ot the rote oF~i+t pa cenfun+~1 per anrwm.
(10.28'~G) (10.28x)
THIR~: Thot Me Mort~o9or will keep all reol ond personol propeny now or hereofter encumbered by the lien of this i
mortgage insured as moy be required from time to time by the Mortga~ee agoinst (oss by fire, windstorm o~d oMer hazards, ;
cosvalties ond to~tinyencies for such periods ond for ~ot less thon such omounts as moy be required by the Mortpa~ee and to poy ~
prompftr when due aU premiums for suth insurantt. The amovnfs of such insurance rcqvi?ed by the MoNgogee are expressive of f
udy the minimum omounts for which said insuronce shaU be wriHen ond if sholl be intumbent upon the Mo?fgogor to mointoin such ~
oddit;onol imura~ce os moy be necessory to meet ond tanply fvllr with oll co-insuronce requirements ta:~ained in soid policies to ~
the end thot said Mortgagor is not a to-insuror fherew~de~. Insurance shall be wriRen by o tompany o? tompunies opproved by the
Mortgogee ond all policies and renewals thereof shall be held by the Mortgagse. /111 detoilcd designotions by the Mort9egor
which ore actepted by the Mortgagee and oll a9reements befween Mortgogor ond Mortgayee relating to insurd~ce, now existing ?
or hereafter made, sAall be in writ~ng and shall be a part of this nwrtgage agreement ai fully os thcugh set fo~th verbatim herei~ i
and sholl govem both porties hereto and their wccessors and ossigns. No lieo upon any of soid policfes of ~n~urance or upo~ any
?efund or retum premivm which moy be payable on the cancellation or terminotion thereof, shall be give~ to other Mon the Mort• i'
ga~ee, except br proper e~donernent ofFixed to wcfi policy ond opproved by Mortyagee. Each polity of insurancr sholl hove
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oRixed H~ereto a Stondord Mortgogee Clouse occeptable to the Mortgogee, moking all loss or bsses under such polity porable ;
to the Mo?tgogee os ih inferesf moy appear. Ir? fhe event any sum or sums of money bctome poyable thereunder ihe Mortgogee ;
shoil hdve the option to reteive and apply Me some on oaount of fhe indebtedness hereby secured, or to permit the Mortgagor to ~
reteive and use if, or any pott thereof, without thereby wciving or impairing ony equity, lien or righl under ond by vi?tue of this ~
mortgage. In event of loss or physital domoge to the nwrtgaged property the Mortgvgw shall give immtdiote notice thcreof by E
moil to the Morfqogee and the Mortgogee moy make proof of bss if the some is not mode prompNr br ~he Mortgagor. Irr event
of foretlowre of fhis nwrt~o~e or other tronsfer of title to the mortgayed property in extengvishm~nt of the indebtedness setured
herebr, all righf, fitle and interest of the Mortgagor in ond to onr insu~ance policies then in force sholl poss to thc purchose? or
g~ontee. Upon ony defeult thereof, fhe Mortgogee mar ~but without obligotion on its part so to do) ploce irnuronce on wch ;
buildings ond poy the premium and chorge such sums so paid tq the Mortgagor end such sums of money so peid shall bear in?ere:t j
trom the date of poyment ot the rete o~~~c centu~~~C anrwm. }
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FOURTH: Thot oll sums of money poid or caused to be poid by Me Mortgagee unde? the terms of this mortgage and herei~ ;
specificotly provided for, and including ony expenses inn?rred br ?he Mortgagee in to~lection of the sum s~tured by this mortgoge,
shaN be covered by the lien of this morigage, the same as fhe sums of money rep~esented by the note wti~ch this nwrtgage secures.
NFTN: To pern?it, tommif or sufFer no woste, impoirment or de?eriorofion of soid property, or ony port thereof, and upon
the foilure of the Mortgagor to keep the buildings on soid property in good condition of repoir, the Mo?tgagee moy den+and the
immediate repair of said 6vildings, or on increose in the amount of security, or the immediote repoyment of the debt hereby
secured, and the foilure of the Mortgagor to tomply with soid demond of the MoAgagee for o period of fifteen (15) dors shaii
constitute o breach of this mortgage, ond, ot the option of the Mongogee, immedioteiy moture the entire unpaid principal end
inte~esf herebr secured, ond the Mortgeyee moy, wittavt notice, insfitute proceedings to foreclose this mortgage, end apply for
the appoiritment of a receiver, os hereinofter provided.
S~XTN: Tha/ the Mortgogor hereby promises, covenants and ogrees to pay the sums of rtw~er ond interest as mentioned
in soid prdnissory note, together with ooy ond all other sums justly dve ond owing the Mo?tgagee by the terms therein, and secured
to be paid os stoted therei~ promptly when due. If defoult shcl: be made in the payment of the said sums of money or ony port
the?eof os provided in the said note or this nw?fgage, or if the interest that may betome due thereon or anr part thereof sholt be
in defoult and vnpaid ~or o space of fifteen (15) dars, or should the Mo?tgagor breach or foil to comply with ony other covenant
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or ogreement on the part of fhe Mortgagor to be complied with fin ?hose cases in which the apfion of thc Mortgagee of accelero- ~
tion is not otherwise expresslr provided herein) and such breach or rwn-tomplionce contirwe in exis?ence f~~~ o space of fiftePn ~1S)
days; then and from thrnceforth, et the option of ihe Mortgogee ond witFwut notice to the Mortgogor, the whole af soid p.incipal
sum expressed in said note, together with oll other sums therein as well as htrein provided for, shol! bccom' ~mmediateiy dve and
payoble, without notice to the soid Mongagor.
SEVENTH: That in cose it should become ~ecessary to ptace this mortgoge and the note setured hereby or either of them,
in the hands of on aftor~ey for colleclion, the said Mortgogor covenants and agrees with the Mortgogee to pay olt cosrs, chorges
ond expenses of s~ch collection, including reosonoble ottorner's fees whether collected by foreclosvre or otherw;se. ;
EIGHTH: Thct, in the evertt any svit is brovght upon this mortgoge, whether tp fpretlose it, to ~eform it, or otherwise,
and or to enfo?te porment of ony tlo~m hereu~der, the Mortgogee moy opply to any courl hoving j~risdiction ~hereof for the
appointment of a receiver of said mortyoged prope?ty, os well os the irxome, profits, issues and reven~es the?eof, cnd the sa~d
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