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Home My WebLink About0562 ~fs ~ ANO Me soid Mort9opo~ herebr tovenonts and aqrees wilh 1ht soid Mortqopee as follows: FIRST: Thot the Mort~a9or is lowfully seized of the obove deur~bed pre~++ises in fee simp~e ond hos pood ripht 1o stll and convey th~ some fo the Mo~tyo9ee; thot th• said premises ore free ond dischorqed of and f~om oll toxes, tox titles or ce?tificofes, jud9ments, methonit's liens ond encumbronc~s of onr nature or kind whatso~ve? ond thot the Mo~~popor will, fullr warront o~d defend tht some to fhe Mortqo9ee, ayoi~st the lowful tloims ond demo~ds of all persons whomsoever, ond will make suth fu?th~r ossurcnces fo perfect fee simple title to said land. in the Mortyo~ee, os mor reasonable be required, ond will pcr the seve?al sums of moner oyreed in the said note to be poid ond oll insfallments of principol arid intere~t thereon promptly when due, and accordin~ to the ~?ue tenor and effect of the said ~+o~e. SECOND: Thof the Morfgoyor will poy oll and sin9ufat fhe toxes, assessme~ts, levies, and entumbrontes of every notv?e a+ the above described prope~ty, and upon tF+is rtwrtqo~e and note, o~ the money secu~ed thareby, before delinquenty thereof ond receipts evidencing poyment of soid taxes, ossesunents, levies and encumbroncei sholl be deposited with the Mort9apee on or before Morch Ist of each sucteedin~ yeor during the term of Mis nartgoge; and if some be not promptly paid when dve. the Mortpagee mor Iwithout obliyction to do so) poy the some, or becoms purchoser of any lawfvl evidence thereof, or certificate Merefor, wifhout woiving o~ afFettin9 any right herevnder ond in fhis rtwrtgope, or the said note which this mortyo~e setures; and such parmen~s or expenditures so made shall beor interest from the dcte thereof ot the rate of~~p~p per centum per annum. Eight & 1/2 (8.58) THIRD: Thot th~ Mortyago? will keep all reol and penonol prope?ty now or hereofter encumbered by the lian of this mongage irnured as may be required from time to time by the Moriqoqee apaimt loss br Rre, windstorm ond ofher ho:ords, casualties a~+d contingencies for such periods and fo~ nof less Man suth amounts as moy be reqvired br the Mo?t9oyee and to poy promptly when dve all premiums for such insuronce. The amounfs of such insvrance reqvired by the Mort~aqee ore expressive of onlr the minimum artwunts for which soid insuronce shall be wri»en and it shall be incumbenf upon the Mortyago? fo maintoin such additiwwl insuronce as mar be netessary to n+eet end tanply fully with al! to-insurante requiremcnts tontained in said policies to the end thol soid Mort~agor is ~ot a to-insuror thereunder, Insurance shall be written by a compony or componies opproved by the Mortgagee ond all policies and renewals thereof shall be held by the Mo~tgapee. All detoiled designations by Me Mortgagor whith are aaepted by the Mortyaqee and oll a9~eements between Mort~ayor and Mortyagee relating to i~uurance, now existinq or hereafter mode, sholl be in writing and shall be a part of this mo?t9age agreement os fully as tlwuqh set forth verbotim herein and shall govern both porfies hereto ond fheir succeuon and aui~ns. No lien_ upon anr of said policies of iruurante or upon any refund or return premium which mor be poyoble on the concellotion or termino?ion Mereof, sholl be given to other than the Mort- ga~ee, except by praper endonement afFixed to wch policp and opproved by MoM~agee. Eoch polity of inwronce shal) have cf~ixed thereto a Standard Mort~agee Clouse aueptoble to the Mort9agee, making all loss o~ {osses under sud~ polity parable to the Mortgogee as ih interest may appear. In the event any sum or sun+s of naney become payable thereunde~ tht Mortga~ee sholl hove the option to receive and epply fhe some on eaount of the indebtedness hereby secured, or to permit the Mortga~or lo reteivc and use it, or onr pa?t thereof, wiMwut thereby waivin~ or impairing ony equit~r, lien o~ ri~ht under o~+d by vi?tue of this nwrt~a~e. M event of loss w physica) damape to the mortgaged property the MortyaQor shall yive immediote notice thereof by mail to the Mort~ayee and thc Mortyapee may moke proof of loss if the same is not made promptty by the Mort~ogor. In evcnt of forecbwre of this mo~t~aye o? other trarufer of title to fhe mongaged property in ex~inguishment of the indebtedness secured hereby, all right, tiNe and interesf of the Mort~agor in and to any enwrence policies•then in force shatl poss to the purchaser or gror.tee. Upon any default fhereof, the Mo?tqa~ee moy (but without obligatwn on its part so to do) placc irnuronce on wch ; i buildir?~s and poy the premium and thorge wd~ wms so paid to the Mottqagor ond wch sums of money so paid sholl bear interest j fran the date of poyment ot the rate of~t per tentum (~~(per annum. i Eight & 1/2 (8.5$) ~ FOURTH: Thet oll sums ot money poid or causcd to be poid b~r the Mortgagee under 1he terms of this mortgoqc and herein specificollr provided for, and includi~~ eny expenses incurred by the Mortgagee in collection of ~he sum secured by this mortga~c, shall be covered by the lien of this mo~tpaye, the some as the sums of moner represented by the note which this mortgogc secures. HFTH: To permit, commit or suffer no waste, impairment or deterioration of said p~openy, or ony part thereof, and upon ~ the foilure of the Mortgagor to kesp the bvildings on said property in good condition of repair, the Mortgagee mor demond the ~ immediote repoir of said buildings, or an increase in the amovnt of seturitp, or the immediate repayment of the debt hereby secured, ond the failure of the Mortga9or to comply with said demand of the Mortyagee for o period of fifteen (15) dors shall constitute a breath of this mortqage, and, at fhe option of the Mortya9ee, immediately moture. the entire unpaid principal and interest hereby secured, ond fhe Mortgagee may, without notite, instituta proceedings to fo?ecbse Mis morrgoge, and apply fo~ the appointment of a receiver, os hereinofter provided. SIXTH: Thot fhe Mortgayor herebr promises, covenonts and a~rees to poy the svms of money and interest os mentioned in said promissory rate, together with enr and oll ofher sums jvsNr due and owing the Morfgagee by the terms therein, and secured to be paid as stated therein promptly when dve. If defovlt shal: be mode in the parment of the said sums of money or any port ~ thereof as provided in the soid note or this nwrt~a~e, or if the interest that may become due thereon or anr part thereof sholl be ~ in defavlf and unpoid for a spate of fifteen (15) daYs, or should the Mortgagor breod~ or fail to comply with anr other covenont = or apreement on the pa?t of the Mortyopor to be complied with (i~ those coses in which the option of the Mortgogee of occelera- g. ~ twn is not otherwise expresslr provided herein) and wcfi breoch w ran-compliance contin~e in existence for a space of Rfteen 11 S) ' ~ dars, ihen and from thenteforth, at the option of the Mortgayee and without notice to the Mo~tgagor, the whole of said principol s ~ sum expressed in said rate, together with all other sums N?erein os well os herein provided for, shall betome immediatcly d~e and , poyable, without notice to the said Mortya~or. ~ € ; ~ SEVENTH: Thot in case it should become necessary to place this mortya9e and the note secured herebr or either of them, : i~ the honds of an attorner for collectan, the soid Mo~tgo9or covenonts and agrees with the Mortgagee to pay oll costs, chorges ~ ~ ond expenses of svch collection, includin9 reosonable attorney's fees whather collected by foreclosure or otherwise. ' ~ EIGHTH: Thof, in the event any suif is brought upon this mqrtgaqe, whether to foretbse it, to reform it, or otherwise, ' ond; or to enforce parment of anr daim herwnder, the Mon~a~ee may eppty to ony court hovinq jurisdiction thereof for the ( ~ { appointment of a receiver of said mortpoged propeNy, os well os the income, proFits, issues and reve~ues fhereof, ond the said ~ • ~ ~ ~ L ~ ~ - - ~ - AO[1K 2 v~cr ~~i' ~