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Home My WebLink About0096 ~ . ~ teader to the Mortgagee in acx.wrd~nce witl~ the provisions ot ih~ nole secuccd l~erebv. full psymen~' ot the ep~ire indebtednea represented therebv~ tf?e Mortg~gee, ~s t~ustee~ shi?p, in computi~g th~ smount of such itidebtedneee~ credit to tl?e account of t~ie Mortg~Ror any credit balance re~n~ining under tlie provisios~s oI ot said ph l~ t{~ere shali be a default under any oI the provisions ot this ~nortgs~e ~eault~ng in • public sal~t.he premisea covered hereby. or it the Mongagre acquiroa the property oehenvue s[ter de[ault~ the Mortgagee~ a~ trustse~ sh~ll apply~ ~t the time of the co~n~nencement ot such proceedu~gs or at tl~e time the proper~y is othervvise acquired~ the amount the~ ren~ainir~g to credit of Mortgagor under ot paragrapl~ 2 preoediag as a credi~ on the intereat ~ccrued and unpaid ~nd tf~e balaaca to the principal then remsining unpsid on said not~. 4. He w[ll pyr all taxe~,,, aa~e~ts. waLee n?tee, and ot6er veran~eat~l or mudeiPal oba*~ 6ae~. o~ e impo~itioae, fos wbieh provieioa has not been made hereinbetore. aod deta~ilt thereot tbs Mo~'es ma,Y P~Y ~ ~ame; and tbaL bs w1U prompLl~? deHv~ t6s o~eial reoeipte tbse+etor to tbs Mortpae~e. 6. Hs will permit, oommit~ or w8er no w~ste, impaismenl. or det~rloratloa of said pcopert~r or aap ~aet .thereof e~coept naa~nsble we:r and t~ear• aad in t~ svent oE t6s failure ot We Mort~or to k~eep the buildu~e on said premiees aad thas to bs ereate~ oa esid premises. or improvemeat~s tbee~eoa, in 6ood repair twe Il~ortg~gee may s mske auch npairs as in itr discnt~ion it msy deem neoees~ry for tLs pe: pre~c.rvsLion there~{ ~ ththti tul~~ t ot e~ and every euch p?ymeat ~6all be due and p~,yabls t~hirt~Y ) da,y~ aite~ demaad, e b~? t~e tien ot lb3s mort~e. d. He will pr?y aU and ~naulu tLe oosts, and eocpenses. in~ludina ressonab3a Lwyer's fees, and oost~s ot sbatrac4 oi title, iacurred or paid st any time try~ort~ee because ai tbe i~ilure on the p~rt of the Mort~or promPtiy and t~y to perform the s~roementa and covenants of eaid p~romieeosy note and tbis mort~e, and si[d oa+ts. charges. and expeneea ahsU be immedistely due and psyable aud ahall be eecured by t6e lien ot tbis mortgAge. ' 7. He wiU oontiauousl~ maintain hszud insuranoe, oi anch type or t~pes and amounts ss Mortgagee ma~ tmm tiane to time require, on tLe impro~remenb now or hereatter on ssid pnmisee snd esoept wden pa~ment tor all auch preauums baa theretofore been m~de under oi pRCagraFh 2 hereoi ~?e will pag prump~ly wben due any premiums thorefor. AU insursaoe ahal! be carri~ in uompawes approve~ by I~io and tha poli- cies snd renewals thereoi ah411 be held by Mortgagee wd h~ve att,~ched thereto loss psyab~uses in iavor oi and in form aa~ptable to the Mo In event oi losa he will give immediste notiue by mW to Mortgsgee~ and ;liiortgagee msy meike _prooi~~ if noti msde pmmptly b~ Morfgagor, and each insuraace compi?n~ ooncerned is henb authonzed aad directed to make psymea6 for auch loer directly Lo Mort~agee instead oi to Mortgagor aud ~ortgsges ~intiy, snd the insursnce pmceeds, or any part thereoi may be apptied by Mor~ gagee at its option eather to ~e reduction oi the indebt~edneee hereby eecured or to t~e reatontioa or repsir of the pmpertJ dsm~ed In event oi foreclosure oi t~iia mortgage or oWer t~sier oi tiWe to t,6e mortgaged property in eutinguishmenti of the iadebt~aeea,~ecured Lereby, atl rigLt, title, and iateres~ oi tLe Mortgagor m and to sqy insursnce policies then in force e6all pys to the purchaser or grsat~ea. 8. If the premisrs~~or an~ pnH U~ernof, be conden~ned under U« powPr of eniinent don~am, ur acquirnd for a public use, tlie da~uaE;es awarcied, tl~e pra•eeds [or tlie taking o(, or the ~onsiil~rntion for sucl~ acqu~sition~ to t1?e extent of tlie full s~nount of tlie remaining unpAid indeLtedness secured b~• tl~is niortgsge, arc liereb~- assigned to tl~e Mortgagee~ and l~is 1?eirs or assigns, snd sl~ull t,c~ pui~l forthwiti~ to saicl :~1ort~ee~ or his assignee to be applied on acrount o( the last ~~iaturu~K ii?stelL~~~nts of such inclebtedness; provi~led~ 1?owever~~ the :~iortguqee or his assignee, ~ue~ at his discrnlion pa~ dirn~•l to Uie Mortgagor, l~is 1?eirs or assigns any part or all of sucL awer~l; provideci~ thut if the loun is guuruntecH! or insurecl, the consent oi ~l~e guurantor or insurer is obtained in advance of aaid pa~•ment. 9. The Mortgagee may~ at any time pendin~ s auit upon this mortgage, apply to the oourt hsving jurisdictioa tber~of for the appointment oi s reoeiver, snd sucb aourt ehall torthwith sppoint s receiver oi tbe premisee oovered hereby all arid singular~ including all and aingular the inoome, profite, issuee, and revenuea lrom whatever eouroe derived, eac6 i?nd every of which, i! being expresaly underatood, ie hereby mortga~ed ~s if speciBcaUy eet torth and deecribed in the granting and habendum clatn~ea hereof. Such appointment ehall be tnade by sueh ootut as sn admitted equity and s matter of absolute right to esid Mnrtgagee, aad without reference to the adequscy or insdequacy of the value of the property mortg,eaed os to ttie solvency or ineolvency of eaid Mortgagor or t3e detendants. $uch rente, profits. inoome, issues, and revenuea ahsll be applied by auch receiver acoording to the lien of t6is mortgase - and the pn?ctioe of such court. Ia the event oi sny detsult on tbepar~ of t6e Mortg,a6or hereunder~ the M eg~ to p4y to the Mo on demand as • reaeonabk mont,~ly rental for the premiees an amount st II equivalent to on~t~relttb~ot thea~r~ te of the twelve montb}y installments psyable in the then cuaent ~ yesr plus the actusl amounti of the annual taxea, aea~sments, w~tec rstea, and insuranee pm,~niums for aueh year { noti oovered by the sforeeaid montWy psyments. ~ 10. In t6e event of any ~*each of thia mortgsge or defsult on the part of tbe Mortgagor, or in the eveut that ; sny of aaid aums of mocey herein referred to be not promptly and lully paid accordu'~g to the tenor hereof~ or in the ~ event thst esch aad ev~ery the atipulations, agreements, conditione, and oovenante of eaid note and this mortgage, ~ are not duly, prompLly, and tully pedormed; then in either or any such event~ the eaid aggr~eg~ete aum mentioned in eaid note thea nmsining nnpsid, with interest accrued to that time, aad sU mo~ya secured hereby, shaU beaome ~ due and psyable torthwitb, or theresfter~ st the option of said Mortgagee, as fully and oompletely ~s if all of the ~ said sums of money weee ori~nally stipulated to be paid on such daY. anYttun6 in asid note or in tbia mortgage to the oontrsry notwithstandjng; aad thereupon or theresfter, st the option of said Mo~tt.g~gee, without notice os demand, auit at law or in equit~, msy be pro~ecuted as if all mone~ye secure~ hereby had mstured prior to its inatitu- i tion. The Mortgagee may forecloee thia mortgage, as to the amount eo declared due and payable, and the asid ; pnmiees ehall be eold to eatisfy and pay the asme together ~rit6 eoete~ expenses, snd allowances. In case of psrtial ~ foreclosure of thie mortgage~ the mortgaged premisea sbsU be eold aubject to the oontinuing lien of tbia mortgage for the amount oi the debt not tben due and unpaid. In such eaee tbe provisione of ttus paragraph may again be ~ svailed_of tbenafter from time to time.by the Mortgagee. . ~ 11. No wsiver of say oovenaat berein or oi.t,he obUgstion secured bereby ahal! st any time thereafter be held ; to be s waives'of the terms Dereof or of the note secured hereby. ' ' 12. The liea of this inscrume.at aball mmain in full force sad eBect during sny poetponement or extenaioa of tbe time of paymen! o~ tbe indebtedaeas or aay part ther~of eecured henby. ~ 13. If the Mortg~sgor defsult in any of the oovenants or agreementa contained hei~ein~ or in esid note, then the E Mortgagee msy perform the same, and all ezpenditures (including n~nsbk sttorney'a fcea) made by the MortgaRee ~ in so doin ahall drsw interest at the rate provided for in the principat indebtednese, and ahall be repayable ~ ~~~eya after demand, and, together with interest and costs accrued thereon, shall be secured by ~ 14. Upon the request of the Mortgsgee the Mortgagor shull executa snd deliver a supplemental note or ~ notea !or tbe sum or sums advanced ~y tbe Mortgagee tor ~he altenL'an, modernization, impnovcment, msin- € t~enance, or repair o! said premises, for taxes or aseessments againat the same and for any other purpose suthor- ~ ized bereunder. Said note or notes ahall be secured hereby on • pnrity with snd as fully as ~t the sdvance ; evidenced Lhereby wece includeil in the twte first described obove. Said snpplemental note or notRS sha11 bee~r s inter~s6 at the nte provided !or in the principal-indebtedness and shsll beps yable in sp pm~imately equal 4 monthly payments for such period aa may be agreed upon by the creditor ~nd debLor. Failing to agrce on the ~ m~turity, the wbole o! t•he sutn or sums so advanced shall be due and psyable thirty (30) daya a[ter demand F by t~6e creditor. In no event ahall the maturity excend bayond the Wtimate msturity oi the nate 6nt ~ dacribed abo~e. ! ~ - d00K ~~V P~CE ~