HomeMy WebLinkAbout0283 tendes ~o the'1~Ior~ee in ~xx,rJ.~~~ wit1~ tt~a pr~v~?ioru ot tl~~ not~ cecur~d h~reb~. tut! ps,rmcnt oi tho
eatirs indebteduea npre~ented thersbv. the Moccga~ee~ a~ t.ruetae. shsU. ia oomputing the unoua0 ot such -
iadebLedaen, credi~ to tl~e ~?ccount of the Mort ~ ndi~ bal~nos re~nainir~g under tl~s provaiona of (s)
ot ~aidpara~»p
h Z. It. there shaU ~~.~1~f~1~ uq~ y ot the pmvi~ions ot tha iuortg~e resulting in •
public aale oi the premises covered t?e or it the o acquires the propecty otherwne aft,er det~ult, _
ehe Mort~~ee, ~ trwtee~ shall apply~ a~ the time ot the oaninencemenL of such pmceeding~ or the time
the properiy r otherwi~e acquired. the amou~~ lhen re~uuining to credit ot Mortgsgor under ot puagr~ph.Z
preosduig a~ a credit oa the interest ~ccrued and unpud sad the balsnc+s to ~he principal then e+emaining uapud -
on said not~e. ~
4. He wW p~,~r ~it t~~. aMeMment+r, wafAe sa~a, ~ad ot6e~ tal o~ m~P~l a6ae~. 6ae~. oe :
imPaitio~, fae wLioh pe~ovidon has not~ beea m~ds heceiabeto~ aod det~wl0 thee~sot t~6s Mo~ti~~es my? P~1~ ~ -
rams; ~nd t6st 6e wlll pe~oonptbr delive~ t6s oioial reoeipta L6eretoe to L6s Matv~es. ~
b. Se wIU peemi~, ooa~mit, or a~er no waet~e~ impairc~k a detedo~stio~n ot ~aid propeel, oe ~r tbeeyoi
e~oept n~soasbk we~t and t~ar• aod ia t6s av~eut ot tbe failuce at tbs Moct~os tio keep ZLs build~i aa ni~
pceaoise~ and tho~s to bs eree~ o~ said pe~i~es~ or ionprovemeat~ t,6ereoa. ia ~ood repair t6s Mort~aes m~y
maloe woh r~atis a. ia ia discretion Iti m.y deem neoeracy for t6s~o
per prewrva~ton tbee~eo~ ind iLs full amouat
~ ot eaoL ~nd e~rery a~ p~yment ~11 be due and P~,Ysbl~s thiit,r (30) dyn atte~ de~aaad~ ~nd ~11 bs ~eaured by
tbs liea ot this mortp~s.
S. 8e wtil pay all and dn6ular tbs oost~s, r~a~ ~nd ao~peo~e~, iaaludina reaeon~ble 4wyet's fee~, and oosta
ot ~batneh oi title, incoreed or patd aE aay time
hry~E6
le
Kort~es beeau~e ot tbe failure oa ibe paet et tbs Mort~o~ .
P~P~1? and i~y to pertorm ths~ a~pd ooveaanta cf saW promiesory note snd tbia and nid
oosts, ot?argas, and expeneea s~U be~? due ~nd paysbls snd ahsri be ~ec~ued by the Ikn
of~t
L mortp~p.
7. He will oon4nuoue~j maintain baaard imuranoe, ot wch tijpe or t~pe~ and amounts as Mortgsg~ee ma~
trom time to tune require, on Lhe i~nprovemeats aow or Lerestter on said pr~mises snd excepL when paymenti
tor all wch premiums 6aa therstotore been made under (s of paragca~h a Lereoi ~e will pa~ promp when
due an,~ premiums th~+refor.. All insuranoe ahall be ~ in oomP~~ ~PProve~ b~ M es and ~e poli-
~ref
cies aad nuewals tbereot sl"iall.. ' d b~ Mortgagee ~nd h~ve attac6ed t~erato loas paysble wes in isvor of
and in form ~eoeptabk to t6e In event oi loss he will give immediat~e notioe by maii to Mortgagos~
and Mortgsges ma,j? make prooi o ~ ii not made pmmptl~ b~ Mortgagor~ aud each insurauos o~mpan~
oonoerned is hereb aut,horised and directed to make p~?ymenti for such bss du~ecdy to Mor~e iffitead oi
to Mortgagor ~d ~ortgage~ 'au?tl~, ~nd the insurance proceeds. or aRY P~ thereoi may be ap ed b~ Morw
~agee at its optzon eithet W~e reduction oi tbe indebtednees Lereby secured or to t~e restontlon or rs~ir oi
tbe propert~ damaged In even` oi foreclosure of this mortg~ge or other ~er oi title to the mortgaged
prapertj ia extanguishmen~ oi the indebtednees eecue+ed Lereb~, afl right, tit,le~ and interest oi the Mortgagor
m aad to_ any inauraaoe policies t~hen in fon~e shsU pRSS to tbe puerLseer or g~aatee.
8. !t tl?e pre~uises, or anr part thereof, be conden~necl under t1~e power of eminent doiunm~ or ac~uired for
a publie use, tlie da~uages awarcled, tlie proreecis for tl~e taking of, or the ~onsiclerution for suel~ aequ~sition, to
tl~e extent ot tlie full ainount oi tl~e ren~aining unpaicl indebte~lness sec•urec! b~ tt~is mortgage~ ete l~ereb~•
assigned to tlie Mortgagee~ and lus lieirs or assi~,ms, und sl~$11 tx~ puid forthwith to said Mortgagee or hia
ass~gnee to be applied on account o( the lest i~iutun~~K iustaUn~enta of sucl~ indebtedness; provi~iecl~ l~owever~
the Moctga~ee or h~s assignee, iua~ at his cliscrntion par diree•t to the Mortgagor, his 1?eirs or assigns any part
or ~ll o[ sucli ewani; pmvided~ that if the lonn is guaru~itec~l or insured, the consent of tl~e gunranLor or insurer-
ia obtained in advance of said pa~ ment.
9. The Mortgaaee msy, st aay time pending s suit upon this mort6A8~, sPP~Y to tbe o~urt 6avin6 jarisdictioa
thereof for the sppointment of s receiver, and auch ootut ehsll fort6with sppoint a receiver ot tbe pre~uises oovered
Lenby all s~d eingulsr, includina all and ~ngWar the inoome~ Prost0. iasu~, aad revenues from wba?tever souroe
derived, each and every of whicb~ it being expreasly understrood, is henby mort~,aged aa.if speci6csUy~set forth aad
d~cribed in tbe ~nating sad habendam clsusee hereof. 8uch sppoinLment ehatl be made by such oourt as an admitted
equity sad s matter of absulute ri6h~ to aaid M~urtgagee, sod wit6out refereuoe to t6e aHeqnaay or inadequacy of
the value of the pmperty mortg~~ed or to the solvency or ineolveney of eaitl Mort~br or the detendaats. Such
rents„ ~oSts. inoome~ issues, a~d ravenues ahall !se applied by such receiver sooo:+dina to tLe liea of this mortg,age
snd th~ praetioe of such oourt. In tbe event of an detault on the of tLe Mo berennder, tbe Mo
he Y .p~'t ~
a~rees to pry to the Mo on demand as s rmsonsWe moncn~y rental for the premisea an amount at~
equivakat to one-tweUfbr (~j of thea~ ~ the -twelve monthly inatallments psyable in t6e thea current
yeas plus the actusl amount of the aanual ta~, aaeessmeate, wutes ratRS, and insuraaoe ~emiums for s~c6 ya~r
~ not oovered by the storeeaid monthlY Pe?3?menta. .
~ 10. In tbe event of any ~*esch of this mort~e o~ deta~ilt on the parE"of the Mort~gort or in the eveat thst
pu u~g ErCO
any of said sums of money hereia referred to be not promptl3? snd-fuUy d aocord' to tbe tenor 6ereoi, or in tbe
event that each and every the atipulatioas, a~eementa, oonditions, and ooveaaats of said note and t6is mort~e,
are not du1y. promP~Y, and fully performed; tben in either or aay auch event, tLe asid aggreg,~?te aum meationed
ia eeiid note t6ea nmsinin6 unpsid, w[th interest aecrued to that time~ and aU moneya eecured hereby~ shall beoome
due and paysbk forthwitb, or thereafter st the optlon of aaid Mortg~gee, as fuUy sad oompletely ae it aU of the
said aums of a~oney were oriainally atipu~ated to be paid on such di?y, enythina in aaid aote or in t6is mortpge to
We o~ntrary not~rithatsndina; aad thereupon or Weresfter. st the option of aaid Mortg~gee, ~vithout notioe or
demand~ euit at Isw or in equit~~ msy be praeecuted as J all moneye eecured bereby 6ad mstured prior to its instita-
Lion. The Mortgsgee msy foreclase thia mortgage~ aa to t6e amount so declared due aad psyabk~ sad the said
pramises shall be s~ld to sstiafy ~od psy the asme t~etber witb ooats, ~P~, snd allowancea. In case of psrtial
foreclosun d this mortg,uge, the mortgaged premises shall be sold subject to the oontinuiag lien of thia mortgs~e
for t6e amount ot the debt not tben due and unpaid. In such case the proviaions of this paragrsph msy a~ain bs
availed oE ther~iter fmm Lime to time by the Mort6sgee. ~
11. No waiver ot any oovenant herein oe of tbe obligstion aecured hereby ahall st any time thereafter be he3d
to be s waiver of tLe terame bereof or of the note eecured herEby.
~
~ 12. T6e liea ot this iabtrument e6s11 nmain in full fonx and eQect dnrina any postponement or eutenaion of
the time d p~yment ot tbe indebtednees or any part thereof eecured henby.
13. II the Mort~sgor defsult in any d t6e oovenants or age+eements contained herein. or in said not~e~ then the
Mort~gee may perfosm the ssa~e~ snd all expenditurea (including reasonsbk attorney'e fces) made by t,~e MortgaRee
in so do' shall dnw+ interest at the rate provided for in the principel indebtedness, and shall be repaysble
tbiriy days Jter demand, and, toget6er ~vith intsrest snd coats ~ccrue~ thereon, shaU be aecured by
this mortgsge. ~
14. Upon the request o! the Mortgsgee the Mortgagor shall euecute and deliver a supplemental note or
notes tor the sum or sums ~dvanced by the Mortgagee for the altention, modernization, improvcment, msin-
tenance. or repair oi said premisea~ tor taxes or asgessmenta agains6 the same and for sny other purNose author-
ized hereunder. Ssid note or notes shall be secured hereby on a parity witL snd as fully as ii the advance
evidenced thereby wero included in the note first described sbove. Said aupplementsl note or notes shall bear
intenat at t6e rste provided for in tbe principal indebsedneas and shsll be psyable in sp pm~imately equsl
monthVr payments for such period as msy be agrced upon by the credit,or and debt,or. Failing to agree ofi the
matunty~ the w6ole oi the sum or sums 9o advanced shall be due and psysble thiKy (30) daya :fter demand
by the creditor. In no event a6sll the maturi~y eat~end beyond the Wtim~ta raaturity oi t6e nc?te ~rst
d~scribed abo~s.
a00lI~G~ ~ ~