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Home My WebLink About0074 teader t,o !he 'MortgaE;re in eccordance'~ wjtti the' oi't~'qas of the notP secur~d hereb~ , fult parn'Ce~t of ti~e entire iadebtednesa represented therebv~ the Mort~tge~l~*aa truatee~ ahall, in computing tl~e ai~~ount o! sucli indebtedne8s~ ci+edit to t}ie account ot t~ie Mort~aRor any credit balsnce reu~aiaing under ti?e provisioi?s of (a) o! aaid ~nph 8. It there sl~~?Il be a defau t under any ot tl~e proviaions ot this u?ortga~e resulting in e public sale o the ptemisea covered tierebv, or if ttie Morlgagre acqwres the property otl~erw~sc+ aftec de(ault~ the Mortg~gee, as truatee~ ahaU •pply~ at the time of the ca~iiriencement of such proceedings or a~ the ~ime the property ~e otherwise acquired. the ~mount then reui~ining to ctedit of tilortgagot under (a) of paragrapl~ 2 preced~ng ss a credi~ on the interest accrued ond unpaid and tiie balance t,o the principal then remaininR unpaid on said note. 4. He wiU p?y all tauces, ~aemnante. w~t~er r~t~es~ aaci otber governmeat~J or municiP~1 ahat'~es, Ga~. a~ impoeitione, for wbich provieion haa not beea made hereinbetore, and in det~?ul6 thereof tbe Mott~gee m~y p~y t6s ~ame; and t6~~ he will promptly deliver tDe o~cial receipf~ thenfor Lo tae Mortg,~ee. ' b. He ~riU peimit, oommit~ or suHer no waste, imp~sirment, or det~rioralion ot eaid property or any psr~ t6erec! e~coept reaeonabk weu snd tear• and in t6e eveat of the lsilura oi L6e Mortg~g9r to keep the buildinga on sai~ premises ead thaee to be erECtec~ on said pnmises, or impmvements t6ereon~ io good npur the Mortgagee me?y maks auch npsirs as in its diecretion it may deem neoeesary for tbe proper preacn?ation theno#~ and the full amouat of eac6 aad every auch psyment ehsll be due snd pqyable thirty (30) daye aft~er demand, and ahall be secured by t~he llen ot t6is mort~e. 8. 8e will pay all snd aingular the oosts, charges, and ezpeneee, ~ncluding ressonsble lswyer'e fees, aad oosts of abstracte ot title, incurred or psid st any time by tbe Mortgagee becauee of t,~e fsilure on the part of the Mortgagor promptly sad (ulty to perform the agnemente and covenanta of ea~id pmmieeory note sad this mortgage, and ssid eoeta, chargee, and expenaes ahaU be immediately due and payable and ehaU be eecured by the lien of t~ie mortg,age. 7. He vvill oontinuously maintain hszard in~ursnoe, ot auch type or ty pes snd emounts sa Mortgagee may irom time to time require, on the improvemente now or hereafter on eaid premises and exoep~ ~rlfen pe~?ment tor all such premiums ha8 theretofore been made under (s) of paragreph 2 bereof, ~e will pay promptty when due any premiums thcrefor. Al! insurance shall be csrried in companies appmved.by Ikio ee and the poli- • cies and renewsls thereoi shnll be held by Mortgages and 6~ve attached thereto lose pa~?sble ' isvor of and in form acceptsble to t6e Mortg ee. . In event oi loss he will give immediate notice by m~il to Mortgagee~ i and 4lortgagee may make _prooi of oes d aot _r~ade promptly by Mortgagor, and each irisurance campeny ooacemed is hereby~ authonzed and directed to ~cuake payment for such lo~s directly to Mortgege~e instesd of to Mortgagor and Mortgagee ointly ~ and thg inanrauce proceeds~ or sny part thereof~ may be sp~lied by Mor6- gagee st its option either W t~e reduction af'the indebtednesa hereby eecured or to t6e r+estort4on or repsir ot t6e pmperty damaped. In event of foteclosure of Lhis mortgage or other tsansier oi title to the mortgaged psoperty in extingu~shment oi ihe indebtednese secured hereby, afl right, title, and intereat of the Mortgagor m and to any iasurance policiea then in force shall p~s to the purchaser or grantee. R. lf tl~e preii~is~s~ or un~- p~rt th~reuf, tx~ eond~~~iineci uniler t!« pow~r of emin~nt do~i~nm, c.r acquired for a public use, thP dainagi~s awarded, tlu• pro~•e~~ds for the tuking of, or th~• ~onsid~rution for suc•!~ aryuisition, to the extent of the full at~iount of tl~e ren~aining unpaid inclel~t~iin~~ss sr~•ur~~d h~• tl~is ~iiort~:age, arn liernb~- assikned to tL~ ~tortgaK~e, and 1?is heirs or us.5i~;ns, un~l sluill b~~ pai~l fortl~w•ith to suid ~fori~aRec or his assignee to !x~ applied on ar~•ount of th~ last ~unturin~ installuu•nts of su~•L in~l.ebt~dnrss; pro~~i~IPd, ho~rerer, the ~1ortKukee or I~is us~ignce, n~a~' at his dis~~r~~tion pu~• dire~•t to t1~e ~Iortgu~or, his l~~irs or nssigns an~~ part or ali of su~~~ awarcl; prov~decl, tleat it the loau is Kuarunt~~~~d or insur~•d, tl~e consent of U?e gunrantor or insurnr is obtained in advance o! said pArn~~nt. y• The Morigagee may, st any time pending a suit upon this mortgage, apply to the ooiirt having jurisdiction thereof for the appointment of a receiver, and such court ahall forthwit6 appoint a rec:eiver of the premiaee oovered hereby all srid singular~ including all and aingular the income~ pro6ts~ issues~ and r~venuea from whatever source derived, eac6 and every oE which, it being expres4ly underatood, is hereby mortga~ ~ if speoi6cslly eet fo~t6 and described in the granting and habendum clausee hereof. Such appointment shall be ,~jy,~o~ oourt sa sn,e~imitted ~ equity and a matter of absolute right to said Mortgagee~ and without reference t,u. adequacy or inadequaey of - t6e value of the property mortgaged or to the solvency or insolvency of said Mortgagor or the defendants. Such rents~ profits, income~ issuea, and revenues shsll tfe applied by such receiver according to the lien of thia mortgage snd t6e practice of such court. In the event of any default on thep~rt of t6e Mortgagor hereunder. the Mortgagor agces to pay to the Mortgagee on demand sa s reasonable monthly rental for the premi~es an amount at lesat equivalent to oa~twelfth (~s) of the aggregate-of the twelve month]y instsllmenta payable in the then cun~ent year plus the sctusl amount oi the annual taxes, assessments, water rat,ea~ and inauranoe pr~miums for such year not covered by the sforesaid monthly paymenta. 10. In t6e event of any breach of thia mortgage or default on the part of the Mortgagor; or in the event that any of esid sums of money herein referred to be not promptiy and fully paid according to the tenor hereof, or in the event that each and every the atipulations, agreements~ conditions, and covenante of ssid note and thia mortgsge, are not duly, promptly, and fully performed; then in either or sny such event, the said aggregate sum mentioned in enid note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become due and payable forthwith~ or thereafter~ at the option of said Mortgagee~ as tully and campletely ,ys if all of the esid sums of money aere origIaally stipulated to be paid on sucb day, anyLhing in said nate or in this mortgage to the contrary notaithstsnding; and thereupon or themafter~ at the option of said Mortgagee, without notice or demend~ suit at law or in equity, may be prosecuted aa if all moneys secured hereby had matured Qrior to its institu- tion. The Mortgagee may foreciose this mortgage, sa to the amount so declared dne and payable, and Lhe said premiees shall be sold to saiisfy and pay the same together with caets, expenses, and allowances. In case of partial foreclo~ure of thia mortgage, the mortgaged premisea shall be sold subject to the continuing Gen 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 avsiled ot thereafter irom time to time by the Mortgagee. 11. No ~vaiver of any covenant bereia or of the obligatioA secated hereby ahall st any time thereafter be held to b~s a waiver of the teraos he,reof or of the note eecured hereby. . ~ ~ 12. The lien of this instrument sha11 remain in full force and eHect during eny postponement or extension of the time of psyment d the indebtednese or sny part thereof eecured hereby. ~ ~ 1:i- If the :Vlortgagor default in any of the covenants or agreemente oontained herein, or in asid note~ then tha Mortaagee msy pedorm the 8ame, and aU expenditures (inciuding resaonabie attorney's fees) made by the Mortga~ee in so doing shall draw interest at the rate provided for in the principal indebeedness, end shall be rnpsyable thirty (30) dsys after demaad, sad, together with interest and costs accrued thereon, s1~aU be secured by t6is mortgage. 14. Upon the request of the Mort~a~; ee the :~iortgagor shall eacecute and deliver a supplemental note or notes for thF sum or sums advancecl Dy the itortgagee (or the alteration, modernization, improvement, mnin- tenance, or repair oI said premises, tor taxes or as.~essments ageinst t}:e same r~nd tor any other purpose author- ized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as if the advance evidenced thereby wece included in the note first described above. Said supplementsl note or notes shalt bear interest at t6e rt~te provided for in the principal indebtedness and shall be payable in ap procimatety equal monthly psyments forsuch period ae may be agreed upon by the creditor and debtor. Failing to agree on the msturity, the wbole of the sum or sums so advanced shall be due and ps~able thirty (30) days stter demand by the creditor. In ao event sh~ll the maturit~y extend beyond the ultimate raaturity of the note fira~ described above. BGUi( 279 PAGE ~ ~ K~? / O PAef171 ~