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Home My WebLink About0214 ANC ~h~ io~d Mor~po~a h~raby coveoonts ond op•so~ wiM Mf soid Mortpa9~~ ot follcws: . ~ FIRST: Tho~ th~ MorfQopor is lowfv~lr fei:td of th~ obov~ d~x~ibtd premis~s in f~~ s?mp1~ ond hos pood ri~h1 to s~ll and conv~r Ih~ fome to Il~e Mort~oqee; thot th~ said p~emises or~ f~e~ and discha~p~d of ond f~om oll tax~s, toa tiN~~ o~ ttrtiP~cot~s, jud9n?eMs, mechanic': I~ens cnd encurnbronc~s of onr ~a~vre or kind whot~o~v~? ond tnot Me Morfpapor wil) tvllr worrant cnd defe~d t1~e sam~ to the A~wt9o9ee. o9oinst M~ lawEul tlo~ms oRd d~monds of oll p~rso~s wFwmso~v~r, ond will mck~ wd~ fu~r . a:w~onces ro pe~fect fee s~mple titie to said lond. in fh~ Mort9oper, as n+ay reasonobi~ be ~~qvired, and will poy th~ sevaral sums of nwner o~~eed in the said ~ote to b~ paid and oll instollm~~ls of principal ond ir.~~res~ M~rtan p:ompiir whtn due, ond aao?din9 ro tM true tena ond effact o.' the said not~. } t SKON~~ Thof the Morf~oQO~ will pay oll ond sin9vlv? Ihe tox~s, osseums~l:, I~vies, and encumbronce: of ev~ry noture on Me obove described p~openr, ond upa+ N+is nan9a~~ ae~d not~. or M~ nwney secured the~ebr. before dalinquency thereof and ~eceiph avidencin9 poyment of said loxes, ossessments, levi~s ond s+~cumbronces shatl be deposited wilh 1he Mo?tqapee on or befo~e Morth lst of eoth succeeding yeor durin0 the hrm of this r.wrf~oge; and if some be nat promptty poid wher~ dve, the MortqaQ~e mcr {without obtiyatia+ ro do so) poy Me scme, or betane pvrchaser of onr lowf~! evid:nce th~reof, or ceniRcate the~efor, withwt woivin~ or afFectinp ony ri9ht hertund~r aRd in this nw?tQaqe, or 1hs soid note which Mis na~tgoqe srcures; ond wd~ porments or expenditurci ~o nwd~ shall beor inlerest Fron+ th~ date lhereof ct th~ rote of ~ p~r tentwn ~ p~r onrwn+. . eigtw & 3/4 (8.75$) THIRD: Thot the Mort9ogor will keep o0 reol a~ penawl p~operty now o? hereafte~ e~+cumbered by the lien of this nwrtgoge inwred a~ may be required from time ro time by the Mortqa9ee a9oirot loss by Rr~, windstorm ond other ho:ords, cawalties and contingencies for wth periods and for not less than such anaunts os mor be required by tke Moffqogee ond to por pranptl~ when due ell premiums for such irouronce. The onaunb of wcfi insurance ~equired br the MortpaQea are expressive of a+ly the minimum omouot: for which soid inwronce shaU be writt~n and it sha!! be +rrcumbent upon tl~e AAo?t~opw. ro mointoin wsh odditio~wl inwronce os may be necessary to rt~wet ond oomply fuflr wilh ol1. oo-inwrance requiremenls tontained in soid policies to Ihe end Mwt wid Mwt9agor is not o co-insuror thereund~?.•hwrance shall be writteo br o oompany w tanpanies opproved by the Mortqo~ee and oll policies ond ~enewols thereof shall bs held br fhe Mortyaqee. All detailed desi~notions by ehe Mwtgaqo? which are oaepfed br the Mortqa~e~ and all a9~een~eMs b~tween Mortqoqo? ond Mortpa~~e relatin~ ro i~uuronca. now exiatin~ or hereofter rtwde, sholl be in w~itir?~ and shall be a poM of this•nwrt~aqe o~~eement as fullr o:lho~h se~ fo~th verbat~m f~erein ond shal) ~overn both pa~ties hereto and tMir wccesson and aui~ns. Pb liee upon any of wid poticits of i~uuronce or upon ony refw~d or reNm premium which may be porable on tM canceUation or ter+nination thereof, slwll be given ro other Mwn the Mort- ga~ee, except bY Qroper e~dorsemant afF'ixed to such polic~? ond approved by Mort~a9se. Eech policy ot inwr~nce shall tiove atfixed thereto a Standard Mort9egee Gouse oaeptoble % Me Mort~egee, mokirsp oll loss or bsses ueder wih ovi~cy poYoble to the Mortga9ee es fts ir~erest rrwy opp~ar. In the event any wm or wms of n~oner bncane parable M~eraunder the Mortqa~ee sholl hove the option to receive ond appl~r the same oe Qaoount of the indebtedneu hereby searred, or to permit the Mortqo~ ro reteive ond use :t, ot ony patt thereof, wifhout fhereby woivinQ or impoitin9 onr equit~?, liee o~ ripht under ond by virtwe of tFrs mortpa~e. In event of bss or physical danwqa to !he nwr~~aqed Prope~ the Mort~aqo~ shoil qive imenediote notice Ihereof br nwil to the Mortga~ee ond ihe Mort~ayee mor nsake proof of bss if the scme is not made prompNr br the Mort~o~or. In event of foredosure of fhis nw?tqo~e or other fra~fer of tiNe to the mortqa~ed property in ~xti~quislun~nt of the indebtedness secvred here~y. afl ri~ht, tiMe and interest of the Mortpa9or in and ro any inwronca policies then in ~o?se shall pau to !he purchoser or Qront~a. Upon any defeuh thereof, the Morf~Qyee nwr (but withovt obliQotioe on its port so b do) Place irourance on safi - buildin~s and por the premiwn end d~orpe sah wms so paid to the Mortpopor and wd~ wms of money so paid sha{? bcar interesf fran the dote of parment et the rote of ]lf~f per centwn per ennum. eight ~ 3/4 (8.75$) FOURTH: That all sums of mp~er ~oid or coused to be paid br the Mort~ayee under the tenns of this nwrtqape Qnd hwrein specifically provided for, and indaidir~q any expenses incurred by the Morr~o~ee in oollectias of the sum secured br this mortya9e, shall be covered by the lian of this mort~e~e, the some as ihe wms of rtwriey represented 6y fhe rate which this aw?tgage sea?re;. HFTl1: To permit, tomeni! or wfFer no woste, impoirment or deteriorotion of soid property, or ony part thereo#, ond upon the failvre of the Mortgapor to kesp fhe buildinp: on said prope?ty in ~ood,oonditioo of repair, the Mortgogee mar demand the inanediote repair of said buildin~s, w an ir~treose in the anww~t of secu~it~?, or the immediate repoyment of the debt herebr secured, ond the feilure of the Mortqo~or to oomply with said denwed of the Mortqagee for o period of fihecn (!5) doys shall oo~?stitute o breodi of Ntis nart~o9e, and, at fhe option of the Mo~rt~o9ee, immediately moture the entire unpaid principal ond interest hereby sewred, aod the Mort~a~ee may, w'ithout notite, institute proceedinys to foreciose this enort~age, and applr for the oppointment of a receiver, os hereinofter provided. SIXTFi: Thot the Mort~cQor herebr p?omises, oovenonts ond oprees to pay Me wms of nwoer ond ioterest os mer~tioned in soid promissory rwfe; to~ether wilh ony ond all ofher sums jusNr due and owin~ the Mort~ayee by the terms therein, and secured to be pcid as stoted therein prwnpNy when dve. (f d~fouh sfwl~ be made in the payment af the soid sems of matier o? ony Po~t . thereof as.provided in the soid note or this mortpoqe, or if the iroerest fhat tnar beton~e due the~eon or ony part thereof sholl be in defavlt and w+poid for a spoce of fiffe~n i1S1 doys, or should ihe Mo~t~o~ bre~fi or foil to complr with ony other covenant or a9reement on the part of the Mo~t~oqor to be comp{ied with (in tfiose coses in which tfie option of fhe Mortgagee of accelero- E twn is not otherwiu expresslr prov'ided herein) and wch breoch oir rqn.canplience c~ontinue in existence for o space of fifteer: (15) 3 da~rs; then and f~are thencefwth, at the option of Me Mort4agee ond without notice to ihe Mort~agor, the whde of soid principal swn expreued ie said note, to~ethe~ with al! ofl~er sw~s therein os weU os herein srovided for, sholl become immediately due ond parable, wittwut notice to the soid MortQapor. ~ SEVBdTH: That in cose it slwuid be:~ome neceuory to place this mo?t~oye and !he note secured hereby or either of them, in the honds of an oftorner for collection, the iaid Mortya~or tovenonh ond a9rees with the Nlortqa~ee to pay all ~cosls, char~es and expenses of sufi oolledion, includinQ reasawble ottomer s feas whether oollected br foreclowre or oN?erwise. - ~ EIGHTH: Thaf, in the event onr wit is broupht upon this mort~pa~e, whether to foreclose it, to reform it, or otherwise, and,!or to enforce porment of a~ doim hareueder, the Mort~oqee nwr applr to ony purt haring jurisdiction thereof for the appoirttment of a receirer of said nw!tpapsd ,~ropertr, os well os the income, profits, iswes ond revenues thsreof, ond the ~o;d 1 - - ~~2~7 ~ ..14 -z-