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Home My WebLink About0988 . ? . ~ . ~ ' ~ . ~ e ~ I ANn.. tM ~toetsa~or doe~ heceby oovanant and atree: ' 1. Zb peKorm. comply wfth and aDlde by earh and wery the stipulattone. asreements, oonditbns wd covenanb oonWned ti and iet torth 1n aaW pe~omtswry note or notes. thl~ mort~a~e and. It appllrable, the loan ~eement between the a[ort~ases ~nd - atostsa~or. 2. To psy tM indebtednesa ascured by thb instrument and accord[ng to tbe true tenor and eKect ot the promlasory note hercinabove menqoned or ot any renewal thereof. PromPtlY on the day or de~ys tbe rame Reverally beoome due. 3. To pay. bctore Decamin~ deHaquen~ a11 obllre?tloas. encumbrances, tsxes. a~eaunenta, p~vlt~, sidewal]c, sanltary and ot1?er aaseasments. levka or lien~. now or hereatter levled or lmpo~ed upon or a~tairut the mottga~ed propcrty~ and to exhibtt to ue Irtwt~a8ee before aucA taxes, a~sea~nnenta~ llens ancl encumbrances beooms dellnQuent t6e oK1cW recefpta tor payment thereot. and if the aame or any psrt thereot ba aot paid betore becoming delfnquet~t the ~Iort~~ee may at aay tlms pay tbe same wlth accivtd lntereat and charges, tt aqy. wlthout walving or atfectint Hortg~ee'a opUaa W loreclwe thls mortgage. or aA t hereunder. and every payment so made duU pear intereat [rom tTie date tbereof at the rate ot ten per cent (10%) per apnu~m, and all such payments wiW fnterest :.'~sU be secueed by the lien hareot. ~ Thet U a cunveyance should be made by the Mortgagor o[ the premises hersln deaerlbed os any part thec~eof, without tlee ' writtea~ conaent of the Mortgagee and without assumptlon ot the obltgation. creited henuMer. In regular form ot law by t1~ grantee o~ the Mortgagor. tlun and in that event and at the optlon ot the Mortgagee atd artthout notloe~toy~ ~rtsagor~~ sums ot maney aecured hereDy ahall immedlstely and concurrently with wch oonveyanoe become due and w•hether or not the aame are so due and payable and in de[ault by the apecific tettns hereot. 5. That in thc event bt a suit beinK iastituted to forecloee thla mortgage, !he 3[ortgagee sUa11 be enUtled to appty. st any time during auch foreclaaure sult to the court having iuriadictbn thereof for the appotntment of a reaiver of all aad atngu- tar the mortgaged Property. and of all renb. incomea. profits, lsaues aad revenua tl~ereot. f~+om whstsoEwer sow+ce derived; and thereupon it is 1~ereby expressly oovenanted au~d agre~! that tbe conrt ahall fortAwith appoint such rec~iver •with the usual powen and dutles of ncefvers tn like cases; and aafd ap lntmeat at?aII be made by tha court as a matter a~ sttlet right ta the ][ort- Sagee. and vvithout reference to the adequacy or ir~iadeqwcY at the vatue ad the property herrby mort~sAed, or W tbe sotv~cy or insolvency of the Mortgagor or any other psrty detendant to auch sui~ The` y[ortgagon hereby spec[tlcally waives tt~e rlght to obiect to the appointment of a rcce:tcr aa atoreaaW and hereby exPe'q~lY coasenb that such appotntment ahaU be made aa an admitted equity and as a matter ot abaolute rlght to the Mortgagea snd t,haR~ the aame may be done without notice to the ][ortgagor. 8. That it any praccedinga ahould be h~stituted against the property covc~red by this mortgage upon any other lten os claim whether auperior or ~unior to the tten ot thta mortgage. We ll[ortgagr,e may at ita optlon tmmcdtately upou instituUon o! nu2~ auit or durl~g the pendency thereo! declan thb martga~e aad tbe indebtedaeas iecured t?ereby due and payable forU?with and may et 1ts option pro~.~ecd to foreclase tWa mortgagr. To pay sri and singular the costa, teea. chargea and expeases oi every kind. including the ooaL ot an abstract of title to ~ said l~nds found to be oonvenient or expedient ia ,ow~necUort wiW any auit for the foreclosun ot this mortgage, and aiso includi~ ~ whethes We ]+Iortgagee ia obliqated to pay aame or not, reasonabte attorr~ey'a fEes lacumed or expended at any Lime br, tLe ~ Mortgagee because ot the tailure ot t?~ Hortgagor to pedorm. oomply with snd abide by aU or any of the covenants, conditions ~ and sUputatlo~a ot aaW pmmia9ory note, or this mortgage. tn the foreclawre of t1LL~ mortgage and in cotlecting the amamt aecured hereby with or wlthout tegat proc~eedings. and to reimbu~se the l~ortgagee for every payment made or incurred for aqy wch purposs~ with intcrest from date of every such psymwt at We rate ot ten per oe~nt (10~G) per annum; auch paymeaU a~ obli- gationa, wtth interest thereon aa atoreaaid. ehall be secured by the llai hereot. 8. To kecp all impravementr. real and persoaal encumbered by the Um oi thb raortgage. now or hereatter oa eaW Uwd i insured agatnat loas or damage by fire. exterided rnverage and cther perils. including war rlsic Insurance it available. fn a s~mn not leae than their tuil insurabk vatue at the aoat and expense ot the Hortgagor in a cornpany or compsnies appemred by tLe Mortgagee, the policy or pollcies to be held by the ]~ort6sgee. aad such pollcy or policfea of insurat?ce s6a11 Mve affixed tbereto ~ a ciaus~ nnsklag ail lo~s or lossea undcr sud~ policy or polides payable to tt~e Jdortgagee aa its interest may appear. aad to deliver ' saW pol[cy or policies to 2Le Hortgagee wben Is9ued with the reoeipts for the payment ot the premium tbenior; and in the eveat ' any s~ua a[ awney becomea payable wider such poitcy or polidea. the Hortgagee sball have We optbn to recxlvoe and app~y the i same on aooount of the Indcbtedaesa secue+ed hereby or to permit Lbe ~ortgagor to recelve and use 1t, or. any part thereo~, Lor ~ other purpoxs„ without thereby waivtng or imP~B ~Y ~LY. liea or rlght under or by virwe ot tl~is mortgage: aM tbe Mortaxgee it it deems necesaary may place and pay for auch lnsurance. or sny part thereof. wlUwut lo~U~g. walvtng or atlectin~ ` 3?iortgagee's optton to forecbx ior. Dreach ot thia covenant, or any pstt thereot. or any right or opUua w~der Rhla raortgage, aad ~ every such payment shall bear interFSt fmm date thereot until paid st t~e rate of ten per oent (10x) per abnwn. and all wch payments with intere~t aa atoresaid adall be secured by the lien hcreof. In tbe event any bsa or damage la suffered ]rtostgagor shall notity Mortgag~ee d such losa or damage withln foFty-eigfit (#S) 6ours after tbe happening therea~; the fallure to aive sacb i noUce ahall conatitute a default and the Mortgagee nhall have the rigfita het~eta given for sU defaults. ~ 9 Zb permit, oommit or suffer no waate and to malntaln tbe impranrements at all times in a atate of goosf repair aad condition; and to do or permit to be doae to sald ptemieea noth[ng tl~at will alter or change the use and chnracter of satd proper- iy or in any way impalr or wEaken the security of satd mortgage. In case of the refuasl. negtect or lnabllliy ot tbe ]Sortgagos to repair and ma[ntaia saM property. Uu Ir[ortgagee maq. at ita opUon. make such repairs or cause the satne to be made aM ~~tmoniea in that behalt which aums ahall be secured by the lien hereof aq$ bear interest at the rate o! tm pqer omt (10%) ~ 10. To deliver the survey and abatract or abstracts ot t1Ue oovertng the mortgaged property to l~ortgagee or ib destgnated ~ agent,v?hfd~ ahall at aii times. during the life of this mortgage, remain In the poaeesalon ot the Nortgagee and in evmt ot the ~ foreclosure of this mortgage or other tranater of title. all right, title and interest ot the ~ortgagor in and to aay a~ch wrveq and - abstract or abstracts M t1Ue ahall pass to the purcl~aser or grantee. 11. T6at ao waiver ot an covenant hereln or in the ob • Y ligation secured hereby ~sil st any tiine herraiter M beld to ba a waiver of aay oi the other terme hersof os o[ the note secured hertby . iZ. That in order to accelcrate the maturlty ot tbe indebtedneas hereby secured because of ibe failure o! the Hortgagor to PaY ~Y ~~g~~n~ liabWty, obl[gatioR or encumbrance upan ~aW property aa hereia pmvlded, !t shall not be neoeasu~r nor requisite that the y[ortgagee st~all flrat pay. t1u same. 13. 1Tiat it Lhe Ho ' rtgagor ateali tall, neglect or refuse tor a period ot thlrty (30) days tulty.end promptly to pay the amounts requlred to be paW by the note henby secured or. the interest therein specified or any of the auns ot money herelA nterred W or hereby secured, or othErwiae dutjr. tuUy and pmmptly to perform, execvte. comply wfih and abide by each, every or any d the covenanta, conditiom or stipulatiwu of thls mortgage. the promissory note hereby ~ocured aod/or tl~e eoastruction loaa agreema~t. it any. then, and in eiWer or in sny of ~uch evpita. w[thout notioe or de~nand. the said ag~regate sum meatia?ed ia sald prorniasory rwtc lesa previous paymeni~ !t ar~y, and uny snd all sums menUoned 6erein or aecured hereby ahall beootae due ~ and p~yable forthwith or thereafter at the oontinuing opUon of tlie lriortgagee as fully and cotppletely as 1f saW ag~regste autru were orlginaily atipulated to be paid at such ttme. anythina tn saW promtasory twte or henin !o the oontrary notwithstandLU. and the yiortgagee aha11 be a~tltled tlrerE~pon or thereatter without notioe or demand to institute auit at law or In equity to enfora the rlaf?ts o[ the 1~tortgagee herE+u~der ar under said pmmiaeory note. In tUe event of say detsult or breach aa the part of t6e Hortgagor hereunder or undcr ssW promissory note, t}u ~ortgagee ahW have the ca~tinuina option to entoroe pRymmt ot aq wms secur+M hereby by action at lsvn oc by wiit W equity to foreclose thts mortgag~ either o~ bnth. ooacurrenUy or otberwlse. a and one aMba or auit shall not ab~te or be a bar to or watver ot the ytort~a~ee's Hght to lastttute or mafr?Wa tbe otber. prnvJded pJd li[ort~asee .bw ~w ooir ooe wyme~c aaa ~?wd.cuop or .aw mae~tem.a.. . . ~ i . : ~a~K Z7 o~E 98~ : ~ _ ..j~ ~y ~ ~