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Home My WebLink About0883 tender w the ':Viort~au~re in accorda~~ce witl? t)~e pro~isions o~ tl~ note secured herebv, tull pr?yuient of tl~e entire indebtedneas trpresente~! thereb~, the Mo~tg~gee, aa truatpe. shap~ in con?puting 1hP aniuuut ut such indebte~lnea~, credit to tl~e account ol tl~e ylortga~tor~n~ credit balence reu?~ining under tli~ pcc~viaions ot (a) o~ si?id raph 2. If therF shall be a cfefault und~r any of the provieiona o( this u:ortga~e resultiug in a puWic sal~ the pn~niees covered herebv, or it tl~e Morigagre acquura tl~e property otturwise sf~er cleteult, the Mortg~gee, as truetee. ahall spply~ ~t the lin?e of t!u canineacemer?t oI auch proceedinRs or at tl~e time the properiy is otherwise uquirecl~ the amount the~ re+uainin~ to credit ot Mortgagor under (a) ot paragrapi~ 2 - precediag as a credit oa the interesl accrued and unpaid and t!?e balante to Ihe principal then reii~ainu?~ unpatd on s~id note. : 4. 8e wiq pay ap taues, adeeemenh. watee cster, aad otber ~ovuameatal or munieiPal ehar~s. 6nes. or imPoata~s, tor which pcovieuoa haa not beea made bereinbelore~ aod in delault tl~eo[ t6e Morts~ee may pRy tLs ' Mme; and that 6s will promptly daliv~ L6e o~cial reoapta ti~refar to tbe Mo:t~ee,. i ; b. He ~vill permit, oommit~ or suHer no waste, impairment, o~ tkt~erioration of eaid pcoperty ur p~rt t6ereof exapt nasonabis ~rear ~ad tar; and in tLe event o[ t6e failure ot t6e Mortg~gor to kcep the b~ui~dinga oa sai~ premises aod those to be erected on esid premises. or impcov~meata t6erean. in aood rep~ir. the Mortds6~ ~Y make suc6 npairs aa in ita discret~on iti may deem neoeesary tor t6e proper p~eecrvation tbeeeo~f~ and the full amounL of each sad every such psymwt ebsll be due uad q?yabb tLirty (30) dsys after demaad, aad ahall be secured by tbe liea ot this mortg,~e. 6. He ~vill psy all and ain6ulac the ooeta. char~ea, aad eacpeneea, includin~ reaeonabk Lwyer's fees~ sad oosts ot abetracta oi title, incurred or pAid at any time by the Mortg~goe ba;suee ot the failure on the part of t6e Mortgagor promptly and tuUy to pertorm the agreemeats and oovenante of eaid promieeory note and thia mortg~sge, and eaid oosfs, chargea~ and expenses shaU be immediately due and psyable and a6alf be eec~ued by the lien ot this mortg~sge. ; . , Ha will oontinuously maintain hazard insuranoe~ oi auch type or types aad amounts as Mortgagee may trom tima to time require~ on the improvements now or hereafter on sud prem~s~ and exoapt when payment tor all such precniuma hsa theretofore been mede under (s) oi paragraph 2 hereof he wiU p~ promptly when due sny premiums therefor. All insurance shall be carried in oompaniea sppc~ove~ by I1lortgagee rnd the poli- ' cies snd renewals Wereoi shall be held by Mortgagee and 6sve stt,ache~ thereto loss payable cfauses in favor of and in form acceptable to the Mortgagee. . In event oi loss he will give immediate notice by ma~l to Mortgagee, and `iortgagee may make prooi of Ioss ii not made promptly by Mortgagor, and esch iasurance oompany aoncerned is hereby~ authorized and directed to make payment for such loss du~ecUy to Mortgagee instead of to Mortgagor and Mortgagee jointly~ anA the inswance pmceeds, or any part thereoi~ may be app7ied by Morw gagee at its opUon either to tbe reduction oi the indebt~daesa hereby secuted or to t6e restoraUon or repair of the propercy dama~ed. In event oi foreclosure of this mortgage or other transier oi title to the mortgaged property in extingu?shment oi the indebtedness aecured hereby, afl rig6t, title~ and intereat of the Mortgagor m end to any insurance policies then in force ahall pnsa to the purchaser or grantee. 8. If U~e premis~5, or unr part th~~n~of, L~ ~•o~id~~iun~•~I under th~ pow•er of eniinent don~aw, e,r aequired for t ~ public us~, tl?~ dan~~K~~s aN~arde~t, tlu• pror~•~•ds for the takink of, or th~> ~onsidc~rution for su~h acyu~s~Uon, to the rxtent of tlie full a~uount of tl~e ren~aininK unpaid ind~•bt~dn~~ss set•ur~~il b~• tt~is niort~a~e, ar~ lierc•b~- ussikned to th~~ ~Iort~aKe~, uud hi.4 hi•irs ~~r e?ssi~;ns, swl sli~l) IH• pui~l forthw~itl~ to suid \tort~a~?~•~ or his ussignee to Ix~ appiied on ac•~•ount uf th~~ lust n?uturiuk insialliuruts of suc•1~ ind~btednt~; pm~i~l~cl, how~~•Pr, tlie \Iortgu~e~• ur hi.s assignee, iii~~' at I~is dis~•r~~tiou pu~- ilir~~~•t to thE• ~1ort~ugor,l?~s lu~irs or ussiKns an~• part or al) o[ sui•1~ aK•ard; pro~ided, that if the lc~un is kuarant~~~~d or insur~•d, th~ c•onsent of the guurantor or insurer is obtained in advence of ssid pa~•uu•nt. 9• The Mortgagee may, at any time pending a suit upon this mortgage, apply to t6e court having juriadiction Lhereof for ~he appointment ot s receiver, and suc6 court shall forthwith appoint a reoeiver of the premisea covered hereby all arid singular~ including all and singular the income, pro6ts, isauee, and revenues fmm whatever source derived~ each and every of which, it being expressly understood, ia hereby mortgaged ss it specifically aet forth and deactibed in the grantiog and habendum clauses hereot. Such appointment ahell be made by such court as an admitted equity and a matter of absolute right to said Mortgagee~ snd without reference to the adequacy or inadequacy of ; the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or the defendanta. Such i rents~ pro6ta, income~ issues, and revenues shall be applied by euch receiver according to the lien of this mortgage i snd the practice of auch court. In the event of any default on the part of t6e Mortgagor hereunder, the Mortgagor ~ egrees to pay to the 1liortgagee on demand sa a reasonsble monthly rental for the premisea en amount at least ~ equivalent to one-twelfth (~f z) of the aggregate of the tweive monthly installmente payable in the then cun~eat ` year plus the actual amount of t6e annusl taxes, asae~meata, wster rates, and insurance premiums for euch year g not aovered by the aforesaid monthly payments. ~ s ~ 10. In the Pvent of any • b*each of thia mortgage or default on the part of the Mortgagor; or in the evcnt that ~ sny of said syma of money herein referred to be not promptly and fully paid according to the tenor hereof~ or in t6e event that each and every the stipulations, agreementa, conditions~ and covenants of said note and this mortgage~ ¢ sre not duly~ promptly~ and fully performed; then in either or any such event~ the said aggregate sum mentioned ~ in eaid note then remaining unpaid, with interest accrued to that time~ and all moneya secured hereby~ shall become due snd psyable forthwith, or thereafter, at the option o[ said biortgagee, as [ully and completely ,~s J all of the said suma of money were origiaally stipulated to be paid on such day~ anything in said note or in this mortgage to the contrary notwithstanding; and thereupoa or thereafter, at the option of said Mortgagee~ without notice or demand~ suit at Isw or in~equity, may be prosecuted as if all mnneya sec~red hereby had matured prior to ita institu- tion. The Mortgagee may foreclose this mortRage, sa to the amount ao declared due and payable, and the said premiaea ahall be sold to satisfy and pay the same together weth coeta~ expenses, and allowances. In case of partial foreclosure_ of this mortgage~ the mortgaged premisea shaq be sold aubject to the continuing lien of this mortgage ~ for the amount of the debt not then due and unpaid. In such case the provisions of thia paragraph may again be ~ availed of thereafter from time to time by the Mortgsgee. ~ 1 I. No ~vaiver ot any covenaat herein or of the obligation secured hereby shall at any time thereafter be held to be s waiver of the terms hereof or of the note secured hereby. ~ 12. The lien of thia instrument ehall remain in (ull force nnd etTect during any postponement or extension of ~ the t.me of payment of t6e indebtedneae or any psrt thereof aecured hereby. 1:3. If the Mortgsgor default in sny of the covenanta or agreementa contained herein, or in said note, then the ~ Mo ma r(orm the aame and all ex nditw~es includin reasonable attorne '8 feea made b the Mo ~Ba6~ Y~ , Pe C g y ) Y ~B~rtee x' in so doin~ shsll draw interest at the rate provided for in the principal indebtedness, snd shall be rnpa}•able ~ thirty (30) days aiter demand, and, together with interest and costs accrued thereon, shall be secured by ~ this mortgage. ~ ~ 14_ Upon the request o! the tiiori.~agee the :~iortga{;or shall eacecute and deliver a supplementa! note or notes tor the sum or sums advanced ey ~he ltortgagee for the alteration, modernization, improvement, main- tenance, or repai~ of said premises, for taxes or as.~essmcnts a~;ainst the same and for aa~ other purpose author- ~ ized 6ereunder. Said note or notes shall be secured hereby on a parity with and as fully as it lhe ad~•anco ~ evidenced ~hereby were included in the note first described above. Said supplemental note or notes shaU bear ~ interest at the rate pmvided for in the principal indebtedness and shall be psyable in sp proximately equal ~ ` monthly psyments for such period as mny be a~reed upon by the creditor and debtor. Failin~ to agree on lhe 1 m~turity, the whole o( the sum or sums so advanced shall be due and pa~able thirty (30) days after Jemand s by t,he creditor. In no event shalt Lhe maturi~y extend beyond the ultimate raaturity of the note first ~ described above. , ~ °1^~K~,Uc~ FACE (7p~ , _ : ~ ~ _ - - - - - ~~~y„~ ~`~s.v_ . . > . . . ~ 33"vF::~3F