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Home My WebLink About0928 tender l0 1he 11~io~tgn~;ee in ~ccordpnce with tl~e provieions o~ thP note secu~ed hereb~, full pa~u~en6 ot tt~e entire indebtedneas represen~ed therebv, ~iie Mortgagee. ~s trus~ee, ahsll, in computing the on~ount ot such indebt.edness. crectit 1o tl~e account o~ t~?e Nort~~~or sny cred~t Lalance i'r~u~ining und~r U~e provisions of of said parag~~ph 2. 1[ tl?e~e sl~~ll be a detsu t under any of tt~e prnvisions of tt~is ~uortga~e resulting in a public sale ot lhe preiiuses covered hereb~, or it the Mortgagre acqu?rea the pmperty otherwtse after detault, the MoKgagee~ ae truatee. shaU apply~ at lhe tinte of the comn?encement ot such proceedings or llie lime the propetty is otherwise ecquired~ the unou~t the~ re~u~ining to credit ot Mortgagor under o( paragraph 2 + preceding as a credit on the interest scerued and unpaid snd tl~e Lal~nce to the prineipal then remain~ng unps~d ' on a~id notR. ~ o ; 4. He wiU p~y all t~ces~ aaeeesmenb. wates nta. ~nd ot6er ~overomeat,al or municiP~l ebacses. fine~, oe ~ i~npoe~cions, tor whtch provision baa aot beea made 6eninbefore, aad in delault thereof tbe Mot~t;aaee may p~y tbs Mme; and th~?t he will prompLly deliver tbe o~cial reoeipte therefor to tbe Mort~ee. b. He will permit~ oommi~, or suHer no waate~ impairmen~, or de~erlorstion oi eaid property ot any ~psr~ there~t ~ a~coept reaeonable ~ar and tear• and in the avea~ ot L6~ i~yilu~e oi tbe Mortg,aaor to keep tM~ building~ on N?i~ . premieea snd those to be erecte~ on eaid pnmisea.~or impcove~C?ents tbereon, in good npair the Mortgagee may malce sueh npuirs sa in its dieeretion it msy deem neoeesary tor tbe proper prescrvstion Lhereo~. and t6a full smounL oE each and every such p?yment shall be due ~nd p~yi?bb tbirty (30) dsys aiter demaad, and ehall be secured by the lien ot t~is mort~e• ~ " 8. He will puy aU i?nd ainguk~r Lhe ooeta, and_ e~cpensea includlna reaeoaable Lwyec'e tees, and ooeta . ot abstncts of ti~le, incurred or paid st aay time by~~Moe~taagee becsuse of the failure on t,he part of t~e Mortge~or promptly and fully to pedorm the agreementa snd oovenaata ot eaid promieeury note snd thia. mo~age ~ and said ooeta, charges, and expenees shall be immediately due aod p~yable and ahaU be eecured by the lien ot this mortgpge. T. He vvill oonti.nuously maintain hszard inaurance, oi such type or types snd amounta sa Mortgagee mpp trom time b time require, on the improvementa now or heredter on said, premises snd e.~cept when psyment ag s tpr all such premiuma has theretoiore been made under (a) of psragrsph 2 hereoi~'he will pay promptly when due any premiums thcrefor. All insurance ahall be carried in companiea appmved by I~io~ee and the poli- ciee and reaewals thereof ahall be held by Mortgagee and hsve sttached thereto loes payable c auaea in iavor of and in fo~m acceptable to the Mortgagee. In event oi loas he will give immediate notice by mail to Mortgagee. ` ~ ' and vlortgagee may make' prooi oi Iosa if not made promptly by Mortgsgor, snd each msuranoe eompany } ooncerned is hereby~suthorised and directed to make psyment for euch lods directly Lo Mo~~ mstead oi < t~o Mortgagor and Mortgagee l'ointly, and the inaurance proceeds, or any part thereof, msp be applied by Mor~ ~ gagee st its option either to tha reducwon oi the indebt~ednees hereby eecured or to t6e restoration or repair of ~ the property dama~ed. In event oi foreclosure oi this mortgage or other tranafer of title to the mortgaged c property in extingutahment of t6e indebtedness aecured hereby, a~l tigbt, title. snd interest of the Mortgagor i m snd to sny ~naunnce policies t6en in force shall p~?ss to the purchaser or grantee. ~ t~. If the pren?is~~s. or un~- purt tl~~rrof. tx• ~•ondemnc~d under th~ pow~r of eniinent douiam, or acquired for ~ a public usP, tl~e damal;c~s awarde~l, th~• proi•~~~~~Is for the taking o(, or the• ~onsid~ration [or such acyu~ition, to 3 the extcnt of the (ull n~uount ot the remaininR unpAid ind~bt~~lness serured i~~• this mort~nKe~ ern l~ereb~• ? assi~;ned to U~~ ~tort~agee, and h~c heirs or assi~;ns, un~l sl~ull tM Nu~~~ ro~cy?w~~~~ to sai~l ~tort~s~~e or I~is aas~Knee to be applied on acrow?t of th~ lust mnturtnK ii~stall~u~~uts o( su~•h ind~btedness; pro~~i~lecl, hoN~ver, the ~1ortKuKe~ or his sis.siKn~e, ~:~u~ at l~is dis~•rntion pur din•rt to tl~e V1ort~uKor, his h~irs or ussigns an~• purt or all of suci~ aw~ard; pro~ided, that if the loan is Kuaruntre~l or insured, thc consent of tlie gunrantor or insurer is obtained in ad~n~ce of said pa~•~nPnt. ~ ~ 3 9• The Mortgagee may, at any time pending a suit upon this mortgage, apply to the oourt having juriediction ~ thereof for the appointment of a receiver, and suc6 oourt shall tort6with appoint a reoeiver of the premises oovered hereby all add singular, including all and singular the inoome~ pro6ts. isaues, and revenuea from whatever source ~ derived~ each and every of whic6, it being expressly underatood, ia hereby mortgaged ae if apeciScally aet forth and ~ described in the granting and habendum clauaea hereot. Such eppointment ahall be made by such oourt as an admitted ¢ equity and s matter of absolute rig6t to eaid Mortgagee~ and without reference to the adequacy or inadequacy of the value of the property mortgaged or to the aolvency or insolvency of said Mortgagor or the defendanta Such renta, pro6ta. income~ isauea, and revenuea shall be applieil by such receiver aceording to the lien of thia mortgage snd the prsctice of euch oourt. In the event of any default on the part of t6e Mortgagor her~eunder~ the Mortgagor I aarees to pay to the Mortgagee on demand ae a reasonable monthly rental for the premises an amoupt at least ' equivalent to one-twelfth (~z) ot t6e aggregate of the twelve monthly install~ents payable in the then current • ; year plua the actusl amount of the annual taxes, assessmenta, water rat~ea, snd inaurance premiums for auch yeat . ~ not oovered by the aforesaid monthly psymente. i ; 10_ In the event of any b-each of this mortgage or defsult on the psrt of the Mortgagor; or in tbe evc~nt that ~ sny of said eums of mocey herein reEerred to be not promptly and fully paid according to the tenor hereof, or in the ~ event that each and every the atipulations. agreements, conditions, and oovenante ot said note and this mortgage, € are not duly, pmmptly, and ful~jr performed; then in either or sny such event~ the said aggregate sum mentioned . ~ in aaid note then rema~ning unpsid~ with interest acerued to that time, and all moneya secured hereby, shall become , due snd payable forth~vith, or theresfter, at the option oi said Mortgagee, as fully and completely ,sa if all of the ~ ~ eaid suma of money were originally stipulated to be paid on such day, anylhing in said note or in this mortgage to ~ t6e oontrary notwithatanding; aad thereupon or thereafter~ at the option of said Mortgagee, without notice ~r ; demand~ suit at law or in equity, msy be prosecuted aa ii all moaeya secured hereby had matured prior to its institw tion. The Mortgagee may foreclose this mortgage~ as to the amount so declsnd due and payeble~ and the said ; premiees ahall be sold to satisfy and pay the same together wit6 ooeta~ expenses, and allowances. In csse of partisl j ; toreclasure of thia mortgnge, the mortgaged premises shall be sold aubject to the continuing lien of this mortgage ~ ~ for the amount of the debt not then due and unpaid. In suc6 case the provisions of this paragraph may again be ; ~ svailed of thereafter fmm time to time by the Morigagee. . . > 11. No ~vaiver of any oovenant 6erein or o[ t6e obligation eecufed ~hereby ahsll at any time thereafter be held ~ to be waiver of the terms hereoi or of the note eecured hereby. , ~ 12. The lien of thia insttumer-t ebsll remain in full force snd eRect during sny po~tponemeat or extension of i ~ the time of psyment ot the indebtedneae or any psrt thereof eecured hereby. 3 ~ 1:i. If the Mortgagor default ia aay of the oovenanta or agreemente contained herein, or in said note, then the ~ w Mortgagee msy pedorm the same~ and all expeaditures (including reasonable attorney's fees) made by the Moriga~ee _ ~ in so domg shall draw interest st the rate provided for in the principal indebtedness, and shall be repa~ able thirty (30) days a(ter demand~ and, together with interest and costs accrued ihereon, sl~all be secured by ~ thia mortgage. ~ 14. Upon the request of the Mortgagee the Mortgagor shall ea~ecute and deliver a supplemental note or ' ~ notes for the aum or sums advanced by t6e Ltortgagee for the alteration, modcrnization, improvement, main- ~ tenance, or repai~ of ssid premises, !or taxes or as.~essments against t,he same and for any other purpose author- ~ ized hereunder. Ssid not,e or notes shall be secured hereby on a parity with and as tully as if the advance ~ evidenced thereby were included in the note firsl described sbove. Said sapplemental note or notes shall bear ~ interest st the nte pmvided (or in the principal indebtedness and shall be payable in sp prorimately equal : ~ monthly payments tor such period ss may be agreed upon by the credilor and debtor. Failing to agree on the 3 maturity, the wbole~of the sum or sums so advanced shal! be due and ps~able thirty (30) dnys a(ter demand f g by the creditor. In no event shall the maturit,y excend beyond the ultimate raaturity of the note first deacribed above. ' i [ 0 k `l`jn ~AGf z~~ 4 ao~ 271 ~E y28 ~o~x ~ . _ _ - -