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Home My WebLink About0374 ten~l~~r to th~~ ~1u~t~;i~~;r~• iu a~~~•urdnue•~~ N•ith tl~i~ {rruv~xiuu~ tl~~~ ii~~lr s~,~•u~r~t ii~•n•b~•. full ~~i~~'uu~nl uf tlu• ei~tirn indcbtrd~?~~xs rc~pr~~~•nt~•d tl~~~~~~b~•, th~~ '~lort~s~~~e, as tru,t~•~~, ~I?ull, in con~{~utii~~? ~h~~ unu~uul ut xuel~ indebt~du~~ss, crndit to tlu~ rii•~•outit ot tl~r \lurt ~nKor auy ~•n•~lit t?xlun~•~~ r~~n~ainin~ uud~•r tiu~ pru~•isic?ns of (a) o( said paraKrapli 2. If llu~rn al~~lt be ~ d~~fuu~t under un~- uf tlu~ E~m~~i~ions ~~f thiK ~~~ort~;aKe ce•~ultin~? iu u public sslP of tl~e prn,~~i,~~x ~•u~~erNd hi•rrb~•, ur if tl~~ 111ort~aKr~ a~•yuirt~x th~~ proJxrt~• ~~therh•i~c~ a(trr d~~fuult, tl~e ~1ortKagee. as truat~~~•, sl~up appl~, a1 the ti~i~e uf 1he cou~n~en~•t•inent af sucl~ pru~•~~r~lin~,?s or ut tlu~ ti~n~~ ti~e pro~rty ia otbNrwiac~ a~•quired. the a~uount then rnmaininR t~ rrn~lit of liortKa~or und~~r (a) of ~?uruKraph 2 precedinK sa a~•nKiit on ttu~ int~~r~•st ac•cruNCi utul unpaid and ti~e balaui•e~ to tlu~ principa) tht•n n,ii~nin~n~ uu~~aid uu said ~iutP, 4. He wiU psy al1 taxea, uaee~ementq, wster rat~es, snd other goveramental or municipsl chsrgee~ fines. or impoeitiona, tor ahich pmviaion hse aot been macie hereinbefore. and in detaul~ thereof the Moctgagee may puy tbe eame; snd tLst be will promptly deGver t6e o~ciat nroeipte t,herefor to the Mortgagee. 5. He will permit~ oommit, or suffer no ~raate, impsirment,~ or det~erioration of eaid property or sny part thereof, except reasonable wcar and tear; and in t6e event of the fsilure ot the Mortgagor to keep the beuldin$a on eaid prem~ees and thoee to be erected oa asid premieea or itnprovementa thereon, in good repair the Mortgngee msy mslce auch repairs ae in ita discretion it may deean neceeesry for the proper preec.rvatios? t6ereo~~ and the tull smount ot each and every euch psyment ahall be due :?nd pqyable thirty (30) daye stter demsad, ~nd s6aq be eecue+ed by the lien of thie moKgag~e. 6. He ~ritl psy sU and singular t6e oosta, chargea~ ~nd expen~~ including rraeonable lawycr'e feee, and ooats of abBtracta of title, incurred or paid at any time by the Mortgagee becauee of the failure on the part of the Mortgagor promptly and fully to perform tbe ag~cements and oovenants of ssid promiaeory note and thia mortgage~ and said ~oata, charge~ and expenses ahall be immediately due and payabte and shsU be eecurcd by the Gen of this mortgage. He will oontinuously maintain 6azard insuranoe, oi auch type or types aad amounts as Mortgagee ruay fmm time to time require, on the improvements now or herealter on sa~d premises, and e.tcept when payment tor aU such premiuma has theretofore been made under (a) of paragraph 2 hereof~ he will pay promptly when due any premiums thereior. All insurance shall be carried in compacuea eppmved by 1liortgsgee and the poli- ciea and renewals thereof ahall be held by i~tortgagee and have attache~ thereto loss psyable elausee in favor ot and in form ,tcceptable to the l~iortga~ee. In event of loss he will give immediste notice by mail to Mortgsgee, and :~iortgagee msy make proof of ioss if not made promptly b~r Mortgagor~ snd each inaurance c~ompany concerned ia hereby suthorized and d'u~ected to make payment for such loss directly to Mortgage~e instead oi to iiortg,agor and i~Tortgagee jointly~ and tt~e insurance proceeds, or any part thereof, may be applied by Mor~ gagee at its opWon either to the reduction of the indebtedneas hereby secure~ or to the restoratioa or repair of the property dama~ed. In event of foreclosure of thia mortgage or other transfer of tiWe to the mortgaE?ed pmperty ia extinguishment of the indebtedness secured hereby, e~l right,-title, and interest oi the l~iortgagor m and to any insurance policies thea in force shall pqss to the purchaser or grantee. tf tlit• pr~•mi..r., or ain~- pi~rt U~~~r~~of, !?r ~•o~~ele•~~~m~~! t~u~ler ihe• ~C~w•~•r ot ~u~in~ut_ ~loinuiu, ur ~u•yuir~~c! for » publi~• us~~, th~ dan~s~~c~s u~~•urd~•~I. th~~ prorr~•~Is fc?r the tal:in~? of. or th~ ~~on,id~rution for sui•h ac•yui,ition, tc? thr ~~xtent of th~• full amount of th~• r~•~u~?it~in~; uupui~l i~ult•1?t~~~lu~:,c sr~•ur~~cl b~• this inoM~ag~~, ar~• lu~r~b~- tt~~iru~vi tu ih~• \1~irtKa~?~•~~. uiul hi. !~~•ii~ ~~r ti.si;~n., un~l sl~:~ll h~~ pi~i~t f~~rtl~a•itl~ to suid ~1urt~;u~;~~c• or lii.. u~.,i~;r~c~i~ to 1~ ap~?li~~~l on u~v•ount ~~f thr lu•t iiri!~ui~?r instullui~•nt• of .ui•h ind~•bt~•dtiir.: ~~n?~~i~l~•d, ht?~~-~•~•~~r, tlic \lortku~;c•~~ ur his :~.c,iKn~v, ~na~- ut his di.~•r~~~i~?u ~ui~• ~liri•i•t In tlu• ~1urt~u~;ur, li~, h~•ir~ ~?r :i::i~ns z~n~• part or all of such u~canl: pro~ulc•d, tl~ut if thi• lu:~ii is ~u:iru~~l~~~~il or insun~~1, tlu• ~~on,~~nt uf th~~ ~?uurautur or ii~;ur~~r is ohtain~~d in ad~•anct~ of ~~i~l pu~•nu•nt. '.1- The Mortgagee may~ at any time pending a suit upon this mortgage~ appty to the court having juriadictioa thereof for the appointment of a receiver, and such eourt sha11 forthwith appoint a receiver of the premieea covered hereby all atid singular, including all and singular the income~ profita~ issues, and revenues fmm w6atever sourae derived, each and ecery of which, it being expressly understood~ is hereby mortgaged as if apeci6calty set forth and described in the granting and habendum clauses hereof. $uch appointment ahall be made by suc6 court as an admitted equity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of the value af the propertS mortgaged or to the solvency or insolvency of said Mortgagor or t!~e defendanta. Such renta~ pro6ts, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgag~e and the practice of such oourt. In the event of any defaulL on the part of the Mortgsgor hereunder, the Mortgsgor a~^eea to p~y to the l~iortgagee on demand ss s reasonable monthly rental for the premises an amount at least equivalent to one-tweltth (3/z) of the aggregate of the twetve monthly installments payable in the then current year plua t6e actual amount of the annual taxea, ssaessments, water rates, and insuranoe premiums for such yesr not oovered by the aforesaid monthly payments. lU. In the event of any b~each of this mortgage or default on the psrt of the Morigagor; or in Lhe event thst any of said sums of money herein referreil to be not promptly and fully paid sccording to the tenor hereof~ or in Lhe event that each and every the stipulalions, agreements, conditions~ and oovenants of said note and this mortgage~ ar~ not duly~ promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in eaid note then remaining unpaid, with interest accrued to that time, and all moneys secur~ecl hereby, shall bec;ome due and payable forthwith, or thereafter, at the option of said Mortgagee, as fully and completely as if all of the esid sumss of money were originally atipulated to be paid on such day, anything in said note or in this mortgage to the contrary notwithatandiag; and thercupon or thereafGer. at the option of said Mortgsgee, without notice or demand, svit at law or in equity, may be pmsecuted s.g if all moneys secured hereby had matured prior to its institu- tion. The :1'Iortgagee may foreclose this mortgage, as to the amount ao declared due and payable, and the said premises shall be sold to satisfy and pay the same together wit6 oo~ts, expenses, and allowances. In case of partisl foreclosure of this mortgage, the mortgsged premises ahall be aold aubject to the continuing lien of this mortgage for the amount of the debt not then due and unpaid. In such csse the provisioas of this paragraph may again be availed of thereaiter irom time to time by the Mortgagee. 11. No waiver of any covenant herein or of the obligation aecured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the note secured hereby. ~ 2. The lien of thia instrument shal! remain in full force and effect during any postponement or extension of the time oE psyment of the indebtedneee or any part Lhereof eecured hereby. I:i. If the Mottgagor default in any of Lhe covenants or agreementa oontained herein, or in said note; then the Mortgagee may pertotm the eame, and aq expenditures (including reason~bie attorney's feea) macie by the MortgaRee in so doing s6afl draw interest at the rate provided tor in the principal indebtedness, and shall bc~ rnpayable thirty (30) days a[ter demand, and, together witti interest and costs accrued thereon, shall be secured by this mortgage. t4. Upon the request of the ;~lortgaRce the :ltortga~;or shal! eaecute and delivcr a supplemental note or notes for the sum or sums ad~anced by the ~tort.~agee tor the alteration, modc~nization, impro~ement, main- tenance, or repair oi said premises, tor taxes or as.~c~sm~nts against the same and [or an~• other purpose author- ized hereunder. Said note or notes s}~ait be secured hereby on a parity with and as fully as if the advance evidenced t6ereby were incl~ded in the note 6rst deseribed above. Said supplemental note or notes s}?all bear interest at t6e rate provided for in the principel indebtedness and shall be payable in approximatel~ ci~ual monthly pay ments for such period as may be a~,;reed upon by the creditor and debLor. Faihn~ to agree on the msturity, the whole of the sum or sums so ad.•anced shaN bc due and pat•Bble thirtv (30) dsys atter demand by the creditor. In no event s6all tbe maturi~y extend beyond the ultimate ~~aturit,y of t6e note first deacribed above. eooK2'~$ r~cE ~73 _ _ , . , V ~ ~ s@