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Home My WebLink About0965 • , . ~ •?r~.+. ' principai sum and accrued i~4rtst shsll become due aad paya0l~ without notic~ at the optio~ ol th~ holder thereot. Md shall duy, prompty, and }ully ptrfarm. dischar~e, ~xecut~. ~Hact. complefe, and comply with and abide by each and wery the stipu• latbns. sar~rwnb, tonditions. and covenants of saW ptomissory note and this mortgag~. then this mortgage and the estate heroby cnatM shall cus~ snd D~ nyll ~nd voW. Md th~ MortgaQo~s turth~~ townant as tollows: 1. That they will psy tM indebtedn~ss. as hsninb~fon provided. , 2. That, in oM~r mon tully to prot~ct the secu~ity of this mortQaQe. ths M~rt~agors. together with and io addition to. tM moothy paymeMs u~der tM tem~s of aMr notes sacuosd hsreby. on tlis fint dsy ot each month until said note fs fully paid. wi!! psy to the Mort~agN tM totlowing sums: ~ ~ f~iA(~tlt x h~~f~l~ldq~t ~xs (b) All p~ym~nb me~tb~eed in ths procedinQ wbsection of this ps?agaph arM sll payments to t~e made undef any ~oU securM he?eby sl~all bs added together and the sggrea,~t~ amount tMroof shall bs paid by ths Mortgagors each monlh in a singls payment to bs spplisd b~r the MortQa~e to ths followfng items jn tM ordsr sat torth: ~d~l~~dt~l1!!ll~Alt ' ~ - 11. IMerost on the note secund hereb~r. and _ (ll. Amortizat~or~ oi the priocipa! ot said not~. My deHciency in the amount of such aggrogate monthy payment shall. unless made gcod b~r the Mortgs~as p~iw to tM due date ot the next such payment. oo~.stitute an evant ot defautt under this mo~tga~e. The Mortgagee_ may collest a"late charge" not to exceed twp ceots (2~) tor esch dolla~ ot esch paymeM more than tiitesn (15) days in snssrs to oover the extp ex- peose invohred in handling deiinqusM psyments. 3. That ff tM total oi the payments made by the Mortgagws uoder (a) ~ pua8nph 2 preceding shatl excaed the smouM - oi PaYme~ts actwtly made by the Mortgsg~ee. for taxes and ass~ssmertts ared insurance pmmiums. as the case msy be, '~uch excess shall be crodited by the Mortgsgee on subaepuent payments to be made by the Mortgagon. If. however. the monthy pay ments made by the Mortgagors under (a) of paragraph 2 preceding shsll no~t De sufficient to pay tsxes and suessments and in- ~ . sura~ce premiums. as tbe case may pe. wheo the same shail become due and payable. then the Mw~tgagors shatl pay to the Mort- gagee a~y amount necessary to make up the deficiency. on ar before the date when payme~t of such taxes, assessments, or insu~. ance premiums sl~all be due. If at sny time the Mortgagws 9ha11 teoder to the Mortgagee in accordance with the provisions of the note secured heroby. full paymeM of the entire indebtedness represeoted themby. the Mortgagee shsN. psy to the 1~Awtgagors all > amouots then rernaioing in the tax and insuranoe escrow accouM hetd in conneetion with this loae. H there shall be a delault ~ underany of the ptovisbns of this mortgage rawfting.in a public sale of the premises covered hereby, or ii the Mortgagee aoquires ' the property otherwise aiter detauR, ths Mortgagee shall appiy. at the time of the commencement of such proceedings or at the time the property is otherwise aeQuired. the balar~ce then remaining in the funds sCCUmulatad under (a) of paregraph 2 preceding as a credit against the amourK of principsl tnee nmaining unpaid under said ~ote. 4. That they witl pay ai! taxes. assessme~ts. wate~ rates. and other govemmeMal or municipal~ ~harges, fines. or imposl- tions, for whkh provisbn has not been made hereinbeforo. and tn detault thereot, the MortgaB~ ~Y Day the same and be sec~ered by the lien of the mortg,age; and that they will prompty deliver the oNicial receipts therefors M the Mortgagee. 5. Ttrat they will peRNt. commit, or suffer no waste. impalrment. or deterioration of said propertj? or sm? part tl~ereof: snd in the event of the failuro of the Mottgsgors to keep the buildiqgs.or said premises and_those to be eroCted on said promises. or imprwements thereon, in good repair, the Mortgagee msy make such repairs as in its dtscretbn R may deem netessary for the proper pr+eservation thereot. ar~d tha tull amoun! of each and every such payment shall be immediatey due and paysble. and - shall be secured by fhe lien of this mortgags. 6. That they will pay ail and singular the oosts. cha~ges. and expenses. including roasonaWe Iawyers faes. and costs M abstracts of title, incuRed of paid at any time by the Mongagee because of the failure oA tl~e part of the Mortgagots promptly and fuly to per/orm the ag?eemer~ts and cavenants oi seid promissary note arM this mortgage, and said costs, charges snd eu- _ penses shs!! be immediately dus and payable snd shall be secured by the lien oi this morfgage. 7. That they wilt kaep the improvemeota noyii existing or hereafter erected on the mortgaged prope~rty insurod as may be - required from time to time by the Mortgagee against bss by fi?e or other hazaMs, casuafties. and co~ti~encies in such amounts and for such periafs as may be raquired by Mortgagee. and will Pay P~nP~h?. whe~ ~ue~: ~t~~r Me~i1G~ry~ °R s~~ch irbspra~° for pay- merrt of which pnovisiott fws not peen made hereinbefore. NI insuranoe shell De carrled +n Compaqles appro~ed tfjf "Mortgsgse and ihe polkies and renewals thereof shsl! be beW by Mortgagee and have attsched thercto bss p~yabN ~lauses in favor of and in form acoeptabk to the Mortgagee. Renewal policies shall be deliverod to Mor~g~ at lesst 10 days prior to axqiration ~t~xist- ing policy. tn eveM oi loss. they w81 give immediately notice by mail to Mortgag .and Mqrtgages may make prooi of ioss i~ rw~ ~e P~~PUY bY Ma~SaBa+s. and each inwranos company concerned is ~ aufhvrizei) ~lfd direcf~'tb Inske p~syihl~'~b1~ such kss dirocty to Mortgsgee instesd of to Mortgsgors and Mortgagee joiniy. ~iilt~'i~il~$1~"~ds; bb argr •parY~~wb~ may be applied by MortgaHee ai its option either to the reductan ot the indebtedness heroby sacured or to ths rcstoration or re- - pairs of the property damaged, fn evern of foreclosuro of this mortgage or other transfer of titk to the~p rtgaged property in ex- tinguishment of the indebtedoess secured heroby, all right, tftle and inte?est of the Mortgagors in and to arry insuranoe policies then in torce shall pass to the p~rclusser or grantee. ~ 8. That the Mortgagee may, at any time pending a suft upon this mortgage. appy to the couK baving jurisdktlon theraM for the appointment of a receiver, and such oouK shall forthwith appoint s receiver of the premises eoverad hereby all and singu- lar, including all and sii?gula~ the inoome. profits. issues, and rovenues irom whatever source Qerived. each and every of which. it being expressly understpod. y hercby Rprtgegad as if apeciflcaty set forth and desc?ibed In the granting and habendum clauses hereof, and wch receiver shall have all the brosd and effective functians and powers in anywise eMrusted by a couK to a roceivar. and such appointrr~ent shall be made_by such court as an admittad equity and a mstter of abaolute right to said MoRgagee, snd without reterence to the adequacy or inadequacy M the value. of ths property mortgaged or to tF~a saivency or insalv~ancy of said Mortgagors or the defendants, and that such rents. prat'~ti, Income, issues snd revenues sl~al! be applied by such rocsive~ accord- ing to the lien of this mortgage and prsctke of sucb court. 9. That (a) in the event of ~ny breach of this mprt~age a detault on the paR of the Mortgagors. or (b) in tha eve~t tf~at any ot said sums of money herein ~efened to be not prompty snd fully paid without demaad or notipe. or (c) in tM eveM that each aod every the stipulations. agreemeMs. conditions and covens~rts of said note and this moRgage. are not duly. P~'+P«Y and fu1F~ performed; then in either or arty such eveet, the said aggregate sum menlioned in said note then remaining unpaid, wifh interest accn,ed to that time, and all moneys s~cured hereby. shatl beoome dus snd psysble forthwith. or tharcafter, at the option of said Mortgagee. as fully and completey as ii all of the saW sums M money were originaly stipulsted to be paid on such day, aml• th'ing in said oote or in this mortgaga to tha coM?ary ~otwithsta~ding; and thereupan or therrafter, at ibe option of said Mort- 8a8ee. wit?wut notice or demand. suit at !aw or in equity. majr be prosecuted as it atl moneys sccured hereby had matured prior to its insiitution. The Mortgagee msy fpre~,yose this ~mortgage, as to the amouM so declared dua and psyabk, and the said premises shall be sold to satfsy and pay the sama together with costs, expenses, and aibwa~c~s. In csses of paRia( foreclosure ' of this mortgage, the mortgaged premisas sha~~ pe soid wbject to the coMinuirtg liert of this mortgage for the amount of the debt not then due and unpaid. !n such case the provisions of this psragraph may sgain be avaited oi thereaker from tlme to time by the Mortgagee. ' ~ - ' ~ ~ ~ , - ~ ~ ~,t ~ r~ ~ . ~ -