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Home My WebLink About0619 c-fs AN~ H+~ soid Mo~tqopo~ her~by cov~nonti ond oQ?e~: with the said Moriqaqea as foilaws: FIRST: Thot Mu MoN~oqo~ is lawiullr sei:ed of ~h~ abo~~ dexribed prem~ses in fee ~imple and hcs ~ood riqht lo sell ond conv~y th~ some to 1h~ Mo~t~o9ee; that tM soid premis~: ors fre~ and dischoryed of ond from all taxes, taa titles or cen~Ficotes. judpments, methonit s lite+i ond entumbronces of any nofur• or ki~d whotsoever and thof tAe Mo~tQopor will fully wa?ronf and defend IM same lo the Mort9ayee, oyainsl fh• lawful tloin?s and demcnds of oll pe~sons whomsoever, ond will make suth further a:suronces to pe~fect fee simple ti11e to soid land, in the Mortqoqea, as mor reosa+oble ba ~equi~ed, and w~ll poy the several swns of nwney o9reed in Me said nore to ba poid and oll ins~allments of p~~ncipol and ~nteres~ the?eon promptly when due, ond auQrdin~ ro ths trve teno~ and affett of N+~ said no~e. ~ ~ SKONfl: Thot the Morl9ayor will poy oll o~d singular the faxes, ossessments, levies, and enc~mbrances of every noture . • on the obove dexribed p~operty, and upon fhis mortqope ond note, or fhe money secured thereby, before delinquency thereof ond receipts evidencin~ poyment of said taxes, ossessments, levies and encumbrances shall be deposited wilh the Mortgagee on a ? before Morch 1 st of eath sutceedin9 yeor durinq the term of this mortgoge; ond if same be _ not promptly po~d when due, the ' Mortyogee moy (w~?~wu1 obli~otion to do w) pay the some, o~ become purchose• of ony lowful evidence thereof, or certificote therefor, wifhout waiving or ofFetting onr righf he~eunder and in this rnortgoge, or the said note which this mortgage secures; ond ~ such poyments or expenditures so mode shall bear interest from fhe date thereof at the rote of elQtlt & 1/2 ( 8. 5$ ) per onnum. ~ THIR~: That the Morigogo? will keep all real ond personol property now or he~eofter encumbered by the lien of this r mo?tgoge imured os mar be reqvired from time to time by thc Mortgagee ogairut loss by fire, windstorm and other hazards, ~ casualfies and tonfin~encies for such periods and fw not less fho~ suth amounts os moy be ~equired by the Mortgagce and to poy i promptly when due ell premiums, for such inswonce. TFie amounts .of such insurance required by ~the Mo~tgagee are expressive of ~ i only fhe minimum amounts for which soid insurance shall be wriNen ond it shall be incumbent upon the Mortgagor to maintain such : additional irau~ance os may be netessory to meef and tanply fuliy wifh ol) to-insuronce requirements contoined in soid policies to ; the cnd Ihaf said Morfgago? is nof o to-insuror fhereunder. Iruvrance shall be wriHen by a tompany or companies approved by fhe Mortgagee and oll policies and renewals the~cof sball be held br the Mortgogee. All detailed designations by the Mortgagor . ~ which are accepted by the Mo?tgagee and all agreements between Mortgogor and Mortgogee reloting to iosuronce, now existing ~ or hereofter made, shall be in writing and shatl be o part of this nwrtgoge agreement as fully os though set forth verbaNm here~n and shall goven+ bofh porties hereto and thcir succeswn and ossigru. No lien upon any of said policies of insv~ance or upon any refund or return premivm which may be poyable on the concelletion o~ te?mination thereof, shall be given to other than the Mort- gaQee. except by proper endonement afFized to such policp and opproved by Mortyagee. Each policy of insurance shail fiove offixed thereto a Standard Mortgayee Clouse aaeptoble fo the MoHgogee, moking all bss or losses ~nder wch policy poyoble to the Mortgo9ee as its interest mdy appeor. In the event ony wnn or sums of moner become payable thereu~der the Mortgagee ; sholl heve Me option to receive ond applr the same on aaount of fhe indebtedness he?ebr secured, or to permit the Mortgogor to ~ receive and use it, or ony port thereof, without thereby waivio~ or impairing any equity, lien or right u~der and by virtue of Mis ~ mortga~e. M' event of loss w physital damoge to the mo~tgaged prope~ryr ?he Mortgagor shall give immediotc notice thereof by ~ mail to the Mo?t~ayee ond the Mortgagee may rnoke proof of loss if the same is not made promptly by the Mortgagor. In event of foreclowre of this nw?tgaqe or other t~orufer of title to the mortgaged property in extinguishment of the indebtedness secu~ed ~ herebr, all riphf, fitle ond inferesf of the Mortgagor in and~to eny insurance policies then in force sholl pass fo fhe purchoser or grantee. Upon oey default thereof, the Mortgagee may (but without obligotion on its port so to do1 ploce insurance on sud+ ~ buildings and poy the premium and tharge such wms so poid to the Mortgagor and such sums of money so paid shall bear interest ~ trom the dote of poyment at the rate oF e1Qht & 1/2 (8. 5$) per onnum. k fOURTH: That oll sums of money poid or caused fo be poid by the Mortgogee under the terms of this mo~tgoge and herein ~ s ecificall rovided for and indudin an ex enses incurred b the Mort a ee in collection of the sum secured b this mort a e, { P YP . 9 Y P Y 9 9 Y 9 9 i shall be covered br the lien of this mortgage, the same os the sums of money represented by the note which this mortgage secures. ~ HFTH: To permit, commit or sufFer no waste, impairmtnt o? deterioration of said property, or ony part thereof, and upon tfie foilure of tfie Mortgagor to keep the buildinys on said property in good condition of repair, the Mortgagee moy demand the : immediate repair of said buildings, o? an increose in the amount of setvrit~r, or the immediate repoyme~t of the debt hereby ; secured, ond the foi~ure of the Mortgagor to tanplr with said demand of the Mortgogee for o period of fifteen (15) dors shall ~ ~ constitute a breach of this mortgage, and, at fhe opfion of the Mortgagee, immediately mafure the enfire unpaid principal and < interesf hereby setured, and fF~e Morfgegee mny, wifhovf notice, institute proceedings to foreclose this mortgage, and apply (o~ ? the appointment of a receiver, os hereinofte~ provided. _ i SIXTH: Thot fhe Mortgogor hereby p'romises, covenonts and agrees to poy fhe sums of money and interesf os mentioned in said promissory note, fogethet wi!fi any and oll other sums jusfly due and owing the Mortgagee by fhe terms therein, and secured to be poid os sfofed therein prompNy when due. If defoult shal: be made i~ the pormenf of the said sums of moner or any part Mereof as provided in the said note or this mortgage, or if the interest Mat moy become due thereon or ony part thereof :hall be i ;n default and unpaid for a spoce of fifteen (15) days, or should the Mortgagor breoch or fail to comply with any other covenant ~ t or ogreement on fhe paft 3f the Mortgagor fo be tomplied with (in those tases in which the option of ?he Mortgagee of oc~elera- - tion is not oMerwise expressly provided herein) and such breach or non-compliance continue in existence for o space of fifteen (15) ~ doys, then ond fran thencefo~th, at the option of the Mortgagee and without notice to the Mortgagor, the whole of s~id prirxipol ~ sum expressed in said note, together wifh oll other sums therein as well as herein provided for, shall become immediately due and ~ porobls, withouf nofice to the said Mortgagor. ~ . SEVENTH: Thot in case it should become netessary fo place fhis mo?tgage and fhe note secured hereby or either of them, ; _ in the hands of an atforney for collectan, the said Mortgagor covenants and agrees with the Mortgogee to pay all costs, chorges ~ ~ ond experues of such collettion, includiny reasonable ottorner's fees whether collected by forecbsure or otherwise. ~ EIGHTH: That, in the event any svit is brought upon this mortgaQe, whether to foreclose it, to reform it, or otherwise, and; er to enforce poymenl of anr cloim hereunder, the Mortgagee moy apply to ony cou~t hoving jurisdiction thereof for the oppointment of o receiver of said mortgagad propertr, as well as the income, profits, issues and revenues thereof, ond the soid ; - $0~287 6~6 ~ - - - - - - . w~;~~ ~ f C'c. 'a~ "ri,,,.a '''a~`~ i~.:~a~a. . ~A~s--:"~"~"•^~a'°?J~~~34"'.Sw-i ~ s , . .