The URL can be used to link to this page

Home My WebLink About0034 ..s ANp fhe sa~d Mort9oflor heieby tovenanls oRd agrees w~?h 1he said Mo~~gagee os follows: FIRST: Thot the Mortgagor ~s lowf~lly se~:ed of the obove des:r~bed p?em~ses ~n fee simple and hos pood r~qhf to sell ond conver fhe some ~o the Mortgagee; thot the soid prem~ses are free and dischorged of ond from oll taxes, tox fitles or ceMificotes, judqments, mtchanic's liens and encumbrances of any nature or kind whotsoever ond thot the Mortgogor will fully worront ond defend the same to the Mortgogee, against the lowful tlo~mi ond demonds of oll persons whomsoever, ond will make suth furthet ossuronces to perfetl fee s~mplt litlt to soid lond, ~n the Mortgagee, as moy reasonoble be reqvired, ond will poy the sever~t sums of money og?eed in the said ~+ote to be paid and all installme~ts of principat ond interest Ihereon promptly when dve, and according to the trve tenor ond effect of the said note. SECOND: ?ho~ the Mortgogor will poy all and aingulor the toxes, ossessments, levies, and encumbrancss of every nature on the ebove destribed p•operty, onc ~pon rnis mvrig~ye u~~u ~K,i~, t~- :++oney :ecu:ed thereby, before delinquency thereof ond receipts evidencing poyment of soid toxes, ossessments, levies and encumbronces sholl be depos~ted wi~h the Mortgogee on or befo?e March lsf of eoch succeeding yeor during the term of this mortgage; o~d if same be not promptly paid when due, the Mortgagee may (without obliyation to do so{ pay the same, o? become purchoser of any lowful evidence thereof, ~r te?tifitole therefor, without waiving or ofFecting ony right hereunder and in this mortgage, or the soid note which this mortgoge secures; and such poymenls or expenditures so mode sholl bear inferesf from the date fhereof ot the rote of xiafj~ per tentur~[~) per onnvm. Nine (9$) THIRD: Thot the Mortgogor will keep oll reol and persor+al property now or he?eafter encumbered by the lien of this ^,o?t9a9e insured os may be required from time to time by the Mortgogee ogoinst loss by fi?e, windstorm and other hazords, casuolties and contingencies for such periods and for not less than such amounts as may be required br the Mortgagee and to poy promptly when due oll premiums for such insurarx~e. The amounts of such insuronce required by the Mortgogee ore expressive of only the minimum amounts for which said ins~~ance shall be written and if shal) be incumbent upon the Mortgogor to moinfoin such additio~al insurance as may be necessory to meet and comply fully with all to-insuronce requirements tontoined in said policies to thc end that said Mortgagor is not a co-insuror thereunder. Insurance shall be writteo by a compony or companies approved by the Mo~tgagee ond all policies and. renewals thereof shall be held by the Mortgagee. All detoiled designotions by the Mortgagor wliKh are accepted by the Mortgayee and all agreements between Mortgagor and Mortgogee reloting to insurance, ~ow existing or hereotter made, shall be in writing and sholl be•a port of this mortgage agreement os fully as though~set forth ve?botim herein and sholl gover~ both parties hereto ond their successon ond assigns. No lien upon ony of said polic~es of insuronce or upon ony refund or return premium whith mar be paroble on the tancellation or terminafion thereof, shal) be given to other than the Mort- gayee, extepf br proper endonement affixed to such policy ond approved by Mortgegee. Eoch policy of insurance shall have affixed thereto a Standard Mongagee Clause acceptable to the Mortgagec, making all bss or bsses under such polic~r payable to the Mortgagee as ifs inferest may oppear. In Me evenf any sum or svms of money become payable thereunder the Mortgagee shnll have the option to receive and apply the same on aaount of the indebtedness hereby secured, or to permit the Mortgogor to ' receive ond use it, ot any part fhereof, withouf M?erebr waiving or impairing any equity, lie~ or right under ond by virtue of this mortgaye. In eve~f of loss or physital damo~e to the rtwrtgaged property the Mo~tgagor shall give immediofe notice thereof br mail to the Mortgagee and the Mortpagee may moke proof of loss if Me some is not made promptly by Me Morfqagor. In event of forecbsure of this mortgaye or other frensfer of tifle to the mortgaged property in extinguishment of the indebtedness secured ~ hereby, all righf, tifle and i~terest of the Morfgagor in and to anr insuronte policies fhen in force shall poss fo the purchoser o? grantee. Upon any default thereof, the Mortqayee moy (but without obligation on its part w to do) ploce insurance on such buildings and pay the premium and cherge wch sums so paid to the Mortgaqor and such sums of money so poid shall beor interesf j from the dnte of payment ot the rate of xjQ~? per cenfum j~er annum. " . ; Nine (9$) - FOURTH: Thot alf sums of money paid or taused to be paid by the Mortgagee vnder the terms of this mortgage and herein ~ specificolly provided for, ond including any expenses incurred by the Mortgagee in collection of the sum secured by this mortgage, j shall be covered by the lien of this mortgage, fhe same as the sums of moner represented by the note which this mortgage sec~res. t ~ ~ FIFTH: To permit, commit or sufFer no woste, impairment or deterioration of said property, or any part thereof, and ~pon g the foilure of fhe Mortgagor to keep the buildings on said properfy in good tondition of repair, the Mortgogee moy demand the ~ immediofe repair of said buildings, O~ an increase in fhe omount of security, or the immediate repoyment of fhe debf hereby ~ secured, and the foilure of fhe Morteoyor to comply with said demand of fhe Mortgagee for a period of fifteen (15) doys sholl ~ constitute o breach of fhis mortgage, ond, at the option of ihe Morfgagee, immediotely mature the e~tire unpaid prirxipol ond inferes/ he?eby secured, ond fhe Mortgayee may, wifhout notite, insfitufe proceedings to foreclose fhis morfgage, ond applr for the appointment of o receiver, as hereinofter provided. ~ SIXTH: That the Morfgayor hereby promises, tovenants and agrees to poy the sums of money and interest os mentioned ~ in said promissory note, together•with any and ail other sums justly due and owing the Mortgogee by the terms therein, and secured ~ to be poid as stated therein promptly when due. If defoult shal: be made in the payment of the said sums of money or any part ~ thereof as provided in fhe soid note or this mo?tpaye, or if the inte~est thaf may become due therew+ or any part thercof shall be ~ in defoult and unpoid for o spote of fiheen (15) days, or shovld the Mortgogor breoch or fail to comply with any ofher cove~ont ~ or agreement on the part of tfie Mortgagor ro be complied with (in those cases in which the option of the Mortgogee of accelero- tio~ is not otherwise expressly provided herein) ond such breoch or non-compliance continue in existence for a space of fifteen (15) ~ days, then and from thenceforth, ot fhe option of the Mortgagee ond without nolice to the Mortgagor, the whole of said principal sum expressed in soid note, together with ell other sums therein as well os herein provided for, sholl become immediotely due and ~ poyable, without notice to the soid Mo?tgayo~. ~ SEVENTH: Thot in case it sNould become necessory to plote this mortgoge and the note secured herrby or either of them, ' in the hends of an attorney for collection, the said Mortgagor covenants ond og~ees with the Mortgagee ta poy all costs, charges ~ : ~ and expenses of such collection, irxludiny reasonable attorney's fees vrhether collected by foreclosure or otherwise. ~ EIGHTH: Thot, in the event any suit i: brought upon this mortgage, whether to foretlo:e i?, to reform it, or otherwise, and or to enforce poyment of any claim hereunder, the Mortgogee may applr fo any court having jurisdicfion ihereof for the ~ oppointment of o receiver of said mortgayed property, as well as the income, profits, issues and revenues thereof, and the said ~ ~ B K 427 ~~~::2C69 , ~ ~ ~ ~ • _ Z_ g00K 2S~ PACE J~ ~