HomeMy WebLinkAbout0621 AND Me said Mo~tpa9or herebr covenonts o~d oQr~es w~M th~ sa~d Mort~aq~• as folbws:
FIRST: Thot the Mortpagor is lawfully sei:ed of th~ obov~ d*suibed pr~+nis~s in fs~ siTpl~ and hos qood riqhf to s~l! and
convey the some fo the Mortyopee; thot the iaid premises ar~ fre~ ond disthorped of and f?an all toxts, 1ax titl~s or ce?tificct~:,
jud9ments, mechonic's liens ond encumbrances of anr nature or kind whotso~v~? and thot ~h~ Mortpaqw will fully warronl and
defend fhe some to th~ Mort9oQee, oyoinst Me lowful cloims and dsn+onds of oll persons whomso~ver, cnd will mok~ wch furNur '
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assuronces to perfett fee sin+ple fi~le to soid lo~d, in the MortQope~, as mar reasonobl~ be r~qvired, ond will pcy the several y
sums of money a9reed i~ Me said not~ to be paid ond oll ieutollments of principal ond i~te?est th~reon prwnptly when due, and a
acco~dinq to the true tenor ond eff~ct of the said note.
SECOND: Thal the Mortyopo~ will poy all and sin~ula? M+e toxes, ass~ssmeats, levies, ond tecw+~brancts of every noture
on Me above described properry, ond upon this mat9aqe ond noh, or the inon~r secu~ed ther~by, before delinquency thtreof
oe+d receipts evidencin~ paymenf of soid ~oxes, ossessments, levies and encwnbronces sholl be deposited with the Mort~a~ee on or
before Morch 1 st of each sutceedin~ year durin~ the t~rn? of this inort9aqe; ond if some be not pranptlr poid vrhen due, the
Mo~t~o~ee may (w~thou~ obl~9anon ro do so) pey ihe sam~, o? b~can~ purcheser of onr lowful evid~nce thereof, o~ certificote ~
therefor. without waivin~ o? atfectinp ony riqht herev~der and in this mo~t~o9e, or the sai~,~t~~/~~~o9e secures: and ;
sudi poy~nenK o~ expendih?res so rt~ode sholl beor interest from tM date thereof at tht rot`~ oE e~ t er centwn pe`r onnum. ~
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THIRD: That the Mo~t9apor will keep all ~eal and personol p~op~rt~r now w hereoh~r encvmbered by the lien of this g
mo~t~a~e insurcd as mor be required from fime to time by th~ Mort~o9ee a~sinst bss by R~e, windstorm ond other hozards, ~
casvalties and continyencies for wch periods end for not leu Mo~ w~d~ amow+ts os nwr be required by eM Monpaqee and to Par ;
promptly when due all pren+iums for such iesurance. The emoa+h of w~d~ inswonce reqvired by th~ Mo~t~aq~e ore expressive of
only the minimum anaunb fo? which said inwronce shalt be wriRM and it sholl be ieKwnbent upon the Mortqa9or to mointaio sucl~ #
additanal i~auronce os mey be n~ceuory to n+eet and canplr fullr wifh oN ao-i~uwonce requiren~+b ca+toined in said policies ro
the end that said Mort~a~or is not a co-insuror fhe~eunde~. Mwrance sholl b~ wntten br a tanpany or cwnponi~s approved br the
Mo~t9aqee and oll polities oed re~swols M~reof sholl be held br th~ Mortpcyee. na d•Toaed de~pno?a~s by ~he Mor~9a9or
which o~e aaepted br the Mo~t9a9te and ol) apreements b~tw~en Mort~a~w and INorf9apee r~{otin~ 1o inwrence. now existi~p
or heraafter made, shall bt in writin~ and sholl be a part of Ihis mortqa9e ayreement os fvll~r os Mwu~h set forth verbotim her~i~ ~
and sholl ~ovem boM parti~s Mr~fo and their wocessors ond aui9ns. No lien upon enr of said polici~s of i~uuronce or upon oey ~
refw~d or retum premium which nwr be porobl~ on tM tancellotion or termirwtion fhereof, sholl be ~iven ro other than 1he Mort- '
~o9ee. ~xcept by Proper endorse~nant o}F'ixed to w~d~ politp and approv~d br Mort~apee. Eoch policp of inwrance shall have ~
o}fixed Ihereto o Stondard Mort~oees Clause oaeploble to the Mort~a~ee, nwkinp oll bss w bsses w+der wch policp payable ~
to the Monqa9ee os its iMerest mar cpp~a~. In the ~veM arnr swn or sums of na~~r b~oome porable therew+der the Mortpa~ee ~
sha{I have the option to r~ceive and apply fhe san~ on oaoount of fhe ind~btedMSS herebr sewred, or ~o pernat fhe Mort~oyor ro ~
receive and use it, or anr part thtreof, without Ihtrebr waiviep or impoirirp a~? equit~?, li~n or riqM und~r and by virtue of this j
mortpa~e. In event of loss or phrsital dema~~ to the mortQaq~d prop~rt~? fhe Mo~t~aqor shaM ~ive imn~diote notice thereof br f
mail to fhe Mo?t~c~ee and the Mo~tqa9~e mar nwk~ proof of loss if the sonw is rat enod~ Pr~wnpNp br the Mort9a~w. In event
of foredowre of this nwrt~aQe or ath~r trornfer of title to ~he,na~tpa~ed prop~rtp in extapuisM~ent of the indebtedness sscured ~
hereby, all ri~ht, tifle and interesf of the Mwt~a~ ia and to anp inwrance polia~s Then in force shall pass b 1he purdwser or ;
groMe~. Upon any defouh thereof, the Mort~a~es nwy (but w~thou~ obli~ation on its part so to dol p~«e i~rance on su~h ~
buildinps and por the premiwn and~ poid b 1h~ Mort~a~ and wd~ wms of nwney so paid sholl bear ieterest ~
from the date of poyment at the rah of eip t~r esnfwe pK arrrNn. " ~
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' FOURTH: That all w+ns of ma~er pai~ w caus~d ro be paid by the Mortqo~ee under ~he tenns of this nart~oye and herein }
specificolly provided for, and indudinp anr expanses inwned by the Mort~a~~e in oollection of the wm sacvred br this nwrt9age,
~ sholl be oovered br the lien of this nart9a9e, the some os 1he wms of nwr~r represented br the note which this nwrtpa~e secures.
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~ HFTH: To pennit, commit o~ wfFer no woste, impoirmer~ or dNerioration of said property, or any paA thereof, and upon -
~ the failure of the Mortgaqor to keep the buildin~s on said propert~? ai ~ood oondition of repair, the Mort~aqee mar demand the
~ immedicte repair of said buildin~s, or an increase in the anaunt of securit~r, or the inwnediate repoyment of the debt hereby
sewred, and the failure of the Mortpo~or to oanplp with soid demond of the Mo~t~o9ee for a period of Rheen (15) dors shall
constitvte a breach of fhis nw~tye~e, and, at ihe option of tM Mort~ayee, inNnediotdr mature the entire unpaid principol and
interest herebr sewred, and the Mort~o~ee nwr, withovl notice, institute proceedin~: w fo.eclose this mortya~e, and applr for
the appointment of a receiver, as here'MOher provided.
SIXTH: That Me Mortqa~or herebr pranises, oovenonts ond aqrees W pay 1he wms of moner end inte~csf as mentioned
in soid promi:sory note. to9ether wifh anr ond all otMr sums justly due ond owirp the Mortqoyee br the terms therein, cnd secured
to be paid os stoted therein prompNy wh~n dw. If d~fauh ~hol: be nwde in ihe porment of fhe said surns of n~oner or any port
N~ereof as provided in the said note w this nwrt9oye, or if 1h~ int~rest thot moy baoorne due thereon o~ onr part thereof shall be
in default and unpoid for a:pace of fift~en I1S) doys, or sFauld tht Mort~a~or bread~ w foil ro aomply with artp other covenant
or apreement on the part of the Mort9aQor to be oomplied wifh (in Mwse wses in which the option of the Mortqe~ee of auelera-
~ tion is not otherwise expresslr provided herein) and wch breach o? ~w~n~cornpliance aontinue in existenc~ for o spoce of fifteen (1S)
r doys, M~en and from thenceforth, at the option of fhe Mortyayee and without notice to the Mat9a~, the whole of said printipal ~
~ swn expressed in said note, fo~ethe~ with oll ofher wms the~ein os well as herein provided for, sholl b~come immediotely dve and
~ poyable, without notice to the soid Mort~a9or.
SEVENTH: That in tase it should become necessary to place this mortqoye ond the rate setured herebr or either of them,
in the hands of an aHorney for collection, the said Mart9o9or covenants and aprees with the Mort~a~ee to pay all costs, chorges >
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ond expenses of such collection, includinq reasonabfe attomer s fees wheM~er oolleded br foreclowre or othe~wise. =
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HGHTH: That, in the event anr wit is broupht upon this matyope, whether ro foreclose it, ro reform it, or otherwise, ~
ond/or to enforce porment of any daiie hereunder, the Mort~eqee nwr opply ro anr court havi~p jurisdiction thereof for the
appointment of a receiver of said na~t~aa~d propertp, os well os the inooin~, proAts, iswes and revenues lhereof, ond the said
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