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Home My WebLink About0327 C~S AND the soid Morlqopo~ h~reby ~ovenonts ond cpree• with Ihe ~aid Morlqoqee a~ follow~: FIRST; Thot the Mortqayor ii lowf~lly sei:ed oi Me obove deuribed prem~~es ~n fee s~mple ond ho: good ripht /o sell ond convey the same to the Mo~tpoqee; thot the said premi~es are f~ee and distharged o( ond Irom aN toxes, tox titles or certiPKOtes, iudgme~ts, rt1KF1a~1it's lie~s ond er?cumbrences of ony notu.e or kind whotsoever and thot the Mortgagor will fuUy worront ond defe~d the same to the Mortgogee, againsf the lawiul tloims e~d damonds oi oil persons whomsoever, ond will moke such further ossuoances ~o pe~fetf fee simple title to soid land, in the Mortyopee, as may ~eoso~able be required, ond will poy the se~er~l sums of money agreed in the said note to be paid ond all installments of prinupol ond ;n~eres~ the.eon p?omptly when d~e, ond accord~ng to the trve teno. ond effec~ of Me soid ~,ote. ~ SECOND: Thot the Mo~tgogor will pay ol~ and singular fhe toxes, ossessments, levies, a~d encumbrances of every nolure on the above described property, ond upon this mortgaye and note, or ?he money secured the~eby, before del~nquency thereof and receipts evidencing poyment oF soid toxts, assessments, levies ond encumbrances sholl be deposited with the Mortgogee on or before Marth 1 st of eoth. sucteeding yeor during the term of this mortgcge; and if same be not promptly pa~d when due, the Mo?tgagte moy (withoul obligation to do so~ poy the same, or become purchaser of ony lawful eviilence thereof, or cerfifKple therefor, wifhovf woiving o? af'Fetfing any righf hereunder ond in this morfgoge, or the soid note which this mortgogc set~res; and iuch payments or expenditures so mode sholl bear interesf from f~e dofe thereof ot 1he rate of eight &~4 75$) per onnum. THIRD; TAa1 the Mortgogor will keep atl reol ond personol property now or hereofter entvmbered by the lien of Ihis mortgoge insured as moy be required from time to timc br the Mo~tgcgee agoinst loss by fire, wind:torm ond other hozards, casualties and contingenties for suth pe~iods ond for not less thon such amounts as moy be required by the Mortgogee aod to poy p~omptly when due oU premiums for suth insuronce. The omovnfs of such insurante req~ired by the Mortgagee a~e expressive of only fhe minimum omounts for which soid insorance shall be written ond if sholl be irxumbenf .upon the Mortgagor to mointoin suth additionol insurante as moy be necessary to meet and complr ful~y with oll co-lnsuronce requirements contoincd in said policies to the end lhot sqid Mortgagor is not o to-insuror fhe~eunder. Insuronce sholl be wriften by o cornpony or componies epp~oved by fhe Mortgagee and ull polities and renewals thereof shall be held by the Mortgagee. AI~ detoiled designations by the Mort~agor which are accepted by the Mortgagee and aii ogreements between Mortgogor and Mortgogee relating to insvronce, now ex;sting or hereofte~ made, shatl be in writing and shall be a parf of this morfgage agreement as fully os Mwugb set forth ve?botim herein • and sholl go~ero both parties hereto and their successors and assigns. No lien upon any of said policie: of insuronce or upon onr refund or refurn premium which_moy be poyable on the tancellatan or terminafion thereof, shall be given to other than the Mo~t- 9ogec, excepl by proper endonemenl aRixed to such policy and approved by Mortgagee. Eoch policy of insuronce shaf) hove affixed thercto a Standard Mortgagee Clouse atteptable to fhe Morlgagee, making oll bss or losses u~der such policy poyable to the Mortgogee as its inferest moy appear. In the event any sum or sums of money become payoble thereunder the Mortgagee sholl hove the option to receive ond opply the same on aaount of the indebfedness hereby secured, or to permit the Mortgagor to reteive and use if, or any port thereof, wifhouf thereby woiving or impoiring anr equity, tien or right under and by virfue of tl~is mortgoge. in evenf of bss or physitai damoge to M?e mortgoged property the Mortgagor shall give immediote notice thereof by maii to the Mortqogee and the Mortgogee may makt proof of loss if the same is not made promptly by the Mortgago?. In event of forecbsure of thes mostgoge or other trarufer of title to the mortgoged property in extinguishment of the indebtedness secured herebr, oll righf, fitle and interesf of the Mortgogor in and to any insueonce policies then in force sholl pass to the pu~choser o~ grontec. Upon any defoult th~reof, the Mongagee may (but without obligotion on its part so to do) ploce insurance oo such bvilding: and poy the premium ond charge such sums so poid to the Mortgagor ond such sums of mo~ey so paid shall beor inferest from the date of poyment at the ~ate of e1QI1t & 3/4 7 rJ$ ) pe~ annum. _ fOURTH: Thof ull :ums of money paid or caused to be paid by Me N?ortgogee under the lerms of this mortgoge ond herein specifically provided for, ond including ony expenses incurred by the Mortgogee in tollecfio~ of the sum secured by th~s mortgoge, shall be covered by the lien of this mortgage, the same os the sums of money represented by the note which this mortgage secures. FIF7H: To permit, commit or suffer no woste, impairment or deteriorotion of said property, or ony port thereof, ond upon the fyilure of fhe Mortgagor fo keep th~ buildings on said properfy in good tondition of repair, the Mortgagee moy dema~d fhe immediate repair of said buildings, or an increase in the ort+ount of securifp, or the immediate repayment of the debt hereby - secured, and fhe failure of fhe Mortgagor to tomply with soid demond of the Mortgagee for o period_of fifteen (15) dors sholl consfitute o breach of this rnortgoge, and, ot the optiort of the Mortgagee, emmed;otely moture the ent~re unpoid prirxipol and interesf hereby secvred, ond fhe Mortgoge~ moy, wif}wuf notice, insfifute proceedings to foreclose lhis mortgoge, ar.d apply for tfie oppointment of o receiver, os hereinofter provided. SIXTH: Thot fhe Mortgogor hereby promises, covenonts or+d agrees to poy the sums of money and interest ds mentioned in said promissory note, together with onr ond oll other sums justly due and ow~ng the Mo~tgogee by the ferms therein, and secured to be paid os stoted therei~ promptlr when due. If default shal; be mode in the paymenf of the said sums of money or ony part thereof os provided in the said note or fhis mortgoge, or if the interest that may become due thereon or any part thereof sholl be . ~n defoul~ and vnpaid for o space of fikeen (1S~ doys, or shovld the Mortgagor breoch or fai! to tomply with ony other covenont or agreement on ihe part of the Mortgagor to be complied with (in those toses in which the option of 1he Morlgagee of accele~o- tion is not otherwise expressly provided herein) and such breoch or non-complionce confinue in existence for o spoce of fifteen (15) doys, then and from fhencefo?th, af fhe opfion of fhe Mortgogee a~d without nofice to fhe Mortgagor, the whole of said principal s~m expressed in said note, together with oll other sums therein as well as herein provided for, sholl become ~mmediotely due and payable, without notice to the said Mortgagor. , SEVENTH: That in cose it shovld become necessa~r to place this mortgage and the note secured hereby or either of them, in fhe hands of a~ ottorner for cottection, the said Mortgagor covenanfs ond agrees with 1he Mortgogee to pay oll costs, chorges and expenses of such collection, ir~cludi~g reasonable ottorney's fees whe?her collected by foreclosure or orherw~se. EIGHTH: Thot, in the event any suit is brought upon this mortgoge, whether to foreclose it, to refo?m it, qr o~herw~se, and or to enforce poyment of any cloim hereunder, the Mo?tgogee may apply to any court hav~ng ju?isdittion thereof for the oppointmenl of o receiver of said mortgaged properfy, as well os the intome, profits, issves a~d reven~es thereof, ond the sdid ~~RK'85 P~~E '32z _ _ ~