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Home My WebLink About0352 tenJcr to tt?e :1lortgu~;~~e i~ eccorda~ce with the provieions ot thP note s~cured 1?Freb}•, full pa~•~nent of the entin indebtedness represented thereb~•, tl?e Mortgagee, as lrustee, shall, in computing the anwunt of such indebtednese, credit, to the ucount of tl~~ Mort g~Ror uny crrdit balance ren?ainin~ und~~r tl~e pruvisions ot (a) ot s~id pusgraph 2. 1( therr ahall be a default under any o~ the provisio~is o1 this ~nortga~e resulting in a ~ public sale ot the premises coverec! herebv, or i! ti?e ~iurlgegre acyu~rea the property otlierw~ etter defeult, the Morlgagee, as truatre, shsll apply, st ~he tuue o~ the co~nu?encetnent of such proceeJings or et tl~e time the property ia otherwise urquired, the amount then ren~ainio~ to credit of Mortgagor under (s) of paraE;raph 2 preceding sa a credit or? the in~e~eat accrued and unpaid and t~e balance to the principal then remair?m~ unpeid on said note. 4. He ~riU p~y all teuc~s, aeseeementa, w~tar rates~ and other ~ovetameatal or municipal chsrg~ee, fiaea, or ~ impoeitione, tor whic6 provision has not been made hereinbefore, aad in detault thereoi tbe Mo~tga6~ ~Y P~Y ~ trme; aad that 6e will promptly deliver the official n~oeiptr therefor to the Mortgsgee. 5. He aill permit~ oommit~ or suHer no paa~e, impairment, or deterioration of eaid property or any psrt thereot e~ccept reaeonabk wear and tear; snd in the event ot the tailure of the Mortg~agor to keep the buildings on sai~ pnmises and Lhose to be erected on asid premieea. or improvemeats thereon~ in good repsir the Mortgagee may ma{ce sueh npairs ae in ita dieeret~oa it msy dcem neceeeary tor the proper presc.rvation Lhereo~~ sad the tull amount of each and every suc6 payment sbsll be due aad p~yable thirty (30) days aft~et demand, snd s6sll be secured by t,be lien of this mortgage. . 8. He will psy all and aingular tbe ooets, chargee, aad expenses, including reaaonable lswyer's feee, snd ooets of abetracta ot title, incurred or paid at any time by the Mortgagee beca?use of the failure on the part of the Mortgagor pro~nptly snd fully to perform the agreements and oovenants oI eaid pmmieeory note and thie. mortgage, and esid coet~, cdargea, and ~xpensee ahall be immediately due and paysble and aha?ll be eecured by the lien of thia mortgage. T. He will oontinuoualy maintain hazard insurance, oi auch type or types snd smounta as Mortgagee ma~ from time w time require. on the improvements now or hereafter on said premises~ and e.~cept when payment tor all such premiums has theretofore been made under (s) of paragraph 2 hereof ~ he will pay promptly when due lny premiums thcrefor. All insurance ahall be carried in oompatues approved by I1lortgagee and the poli- ciea and renewals thereof shall be held by Mortgagee and 6ave attached thereto loss payable clausee in fsvor of and in form acceptable W the Mortgagee. . In event oi loss he will give immediste notice by mail to Mortgagee~ and Mortgagee mey make proof of Ioss d not made pmmptly by Mortgagor, snd each insurance oompany ooncerned is hereby~ authorized and directed to make payment for such losa directly to Mortgagee instead oi to Mortgagor and Mortgagee ointly, and the insurance proceeds, or any part thereof~ may be applied by Mort- gagee at ita optaon either to ~e reduction oi the indebtednees hereby secured or to the restoretaon or repair of the property dama~ed. Ia event of foreclosure of thia mortgage or other transfer oi title to the mortgaged property in eactingu~shment ot the indebtedness secured hereby, a~l right, title~ and interest oi the Mortgagor u? and Lo sny inaurance policiea then in force shall p~sa to the purchsser or gnntea. , R. If the pren~isi~s, or uu~- pnrt th~~r~•of, b~ i•ondrnin~~l under th~ pow~r ot emin~nt doniu~n, or acquired for a public use, the dau~aKi~s aHarde~l, th~~ pmr~~cds for the takinK of, or th~~ ~onsid~rution for surh acyuisition, to the extent of ihe full umount of the remaining unpai~l ind~Lt~rinc~ss serured b~• this niortgaKe, arn hereb~• assikne~l to the ~lortea~ee, un~l hi.c t~rirs or nssi~?ns, un~l .liall tx~ pai~f fortl?w•itl~ 1o sai~l ~lortgt?g~~ nr )~ic assiKnee to be xpplie~l on a~~•ount of the last ~~?uturi~~K iustalln~i•nts of suc•h ind~Ltedness; pro~•i~le~l, ho~~ver, tl~e ~~ortkuKe~• or liis as,siKne~•, u~u~- at his d~~rrt•tion pa~- ~lirn~•t to tlie V1ort~u~or, his li~irs or uaSiKns an~ part or ull of such aw~arcl; pro~~ided, thut if tlu• loan is ~;uurunt~~~~il or insuri~d, tlic ~•onsc~nt of the guarantor or insur~r is obtained in advance o[ seid pa~•meut. 9• The Mortgagee may, at any time pending a suit upon this mortgage, apply to the oourt having jurisdiction thereof for the appointment of a receiver~ and such court shall forthwith appoint a receiver of the premises oovered hereby all arid singular~ including all and singular t6e income~ proSts, issues~ and reKenues fcom whatever eource derived, each and every of which, it being expressly underatood~ ia hereby mortgaged a~ it speci5cally eet forth and described in the grsnting and habendum clause.s hereot. Such appointment a6all be made by such oourt a8 an admitted equity and a matter of absolute right to esid Mortgagee, and without re(erence to the adequacy or inadequacy of the value of the property mortgaged or to the aolvency or insolvency of said Mortgagor or the defendanta. Such ' renta~ profita, income, issues, and revenues shall be applie~d by such receiver acc:ording to ~the lien af thia mortgage j and the practioe of such oourt. In the event of any default on the part of t6e Mortgagor hereunder~ the Mortgagor agrees to pay to the biortgagee on demand sa s reasonable monthly rental for the premiees an amount at lesat equivslent to one-twelfth (~z) of the aggregate of the twelve monthly instsllmente payable in the then currPnt F year plua the actual amount of the annual taxes, a~mente~ wster rates, and inaurance premiums for such year 4 not oovered by tbe aforesaid monthly paymente. ~ 10_ In tbe event of any b-~e~of+h ~f S~»s mortgage or default on the part of the Mortgagor; or in the event that ~ any of said aums of money herein referred to be not promptly and fully paid according to the tenor hereof~ or in the ~ event that each and every the stipulations, agreementa, conditione, and oovenanta of said note and this mortgage~ are not duly, promptly~ and tully pertormed; then in either or any such event~ the said aggregate sum mentioned ~ in eaid note then remarning unpaid, with interest acerued to that time, and all moneys secured hereby, shall become due and payable forthwit6~ or thereafter~ at the option of said Mortgagee~ as fully and completely as if all of tbe eaid aums oi money were originally stipulated to be paid on such day, anything in said note or in this mortgage to the contrary notwithstsnding; aad thereupon or thereafter.-at the option of said Mortgagee~ without notice ~r demand, suit at law or in equity, may be prosecuted sa if aU moneye aecured hereby had matured prior to ita institu- ~ tion. The biortgagee may foreclose this mortgage, as to the amount eo declared due and payable, and the esid ~ premiaes ahall be sold to satisfy and pay the same together w:t6 coata, expenaes, and allowancea. In case of partial ~ fareclo~ure of thia mortgage~ the mortgaged premisea shall be sold aubject to the continuing lien of this mortgage for the amount of the debt not then due and unpaid. In such caee the provisiona ot thia paragraph may again be ~ availed of thereafter imm time to time by t6e Mortgagce. ~ 11. No ~vaiver oi any oovensnt 6erein or of the obligstion aecured hereby shall st any time thereafter be held ~ io oe a waiver oi fihe ~rerms hereof or of the note eecured hereby. ~ 12. The lien of thia insirument ahall remain in full force and eRect during any postponement or extenaion of the time of payment of the indebtedneas or any part thereof eecured 6ereby. ~ 13- If the Mortgagor default ia any of the covenants or agreementa oontained herein, or in asid note, then the ~ Mortgagee may ~erform t6e aame, and aU expenditures (including resaonable attomey'e fees) made by the Mortgagee =4. in so domg shall draw interest at the rate provided for in the principal indebtedncsa, and shall be repa~ able thirty (30) days sfter demand, and, toget6er with interest and costs sccrued thereon, shall be secured by _ this mortgage. ; 14. Upon the request of the Mortgagee the ti'Iortgagor shali ea~ecute and deliver a supplemental note or ~ notes for the sum or sums advanced Dy t6e ~tortgagee !or the alteration, modernizetion, improvement, main- _ tenance, or repai~ ot said premises, tor taxes or as.~essments against the same and tor any other purpose author- ized hereunder. Said note or notes shall be secured hereby on a parit,y with and as fully as i[ the sd~ance ~ evidenced t6ereby were included in the note first described above. Said supplernental note or notes shall bear interest at the rate pmvided for in the principal indebtedness and shall be payable in ap proximately equal ~ monthly psy ments tor such period as may be a~reed upon by the creditor and debtar. Failing to agree on the msturity, the whole of the sum or sums so advanced shall bc due and ps~•able thirty (30) days afler demand by the creditor. In no event a6all the maturicy extend beyoad t6e ultimate r3aLurity ot the ncite first ~ de~cribed above. ~ 800K 282 ~E 344 - ~M: _ _ _ . ~ , ~ , - _ ; _ . ~ ..~,~~.~-n~ ~ . -