The URL can be used to link to this page

Home My WebLink About0026 tender ~o the T~iortgagee in ~cordence with tl~e provisious of tl?e? note secured herob~•, tull pay~uent, of the entire indebted~e8s represen~ed therebv, the Mo~tgagee, as lruatee, ahsll~ in computing the amoun~ of auch indebteciness. cndit to ttie eccount o~ t~~e MortgaRor any credit balance reinainin~ under tlie provi~ior?s of ot said p rsph 2. If the~e sl?all be s default under any ot lhe provisior?s ot this mortga~e resultir?g in a public sal~ the premisea covered hereby, or it the Mortgagee acqu~rea the prnperty otherw~ after detault, the Mortgagee. ~s truetee~ ahall apply~ st the tiine of the conunencemeot of such proceedings or at tlie time the property is otherwise acquired~ the amount then rei??sining to credit ot Mortgagor under (s) of paragrsph 2 preceding as a credit on the interest accrued and unpaid and tt?e Lalance to the principal then remaining unps~d oa said no~e. 4. He wIll p~y all taxes~ ~ aeeeaements, wstes nt~ee, und other govarnmental or municiP~ ~~6~. ~ o= ~ impositions, ior whie6 provieion haa not beea made heninbetore, ~ad in defsult thereoi tbe Ddort~ee may p~y ths e~a~e; ~ad that he will prompUy deliver t6e o~ci~l rcoapte thece[or to tl~a Mortg~gee. b. He will permit, oommit~ or suHer no ~vaete, impuirment. or deterloratioa ot said pmperty os an paeti thereot ~v ezcept reaaonabk Mear and tear; i?nd in the event ot the failure oi the Mortgmgor to keep t6e b' din~s on. a?i~ premieee snd those to be erected on ssid premisea or improvements t6ereon, in good npair the Mortgagee may mslce such npairs As in its diecretioa it msy deem neoeee*ry for the proper preacrvstion thereo~, and tbe full amount ot each snd every auch paymeat s6all be due and psyuble t6isty (30) dsys atLer demaad, ead shsll be secured by the Ilen ot this mortgage. ' ~ 8. He will psy all aad singular tha ooete, c~ and ezpeneea, includin6 reaaoasble lawyer's feee, and ooste oi sbetrscts oi title, incurred or psid at sny time by t Mortgagee bersuee of t6e failure on the part of the Mortgagor ~ promptly and !uHy to pedonn the agreemeats and covenante ot said pmmieeory note and this mortgage~ and esid ooste, cbarges, and expenses shall be immediately due and psysble snd ehall be eecured by the tieri of thie~ mortgage. 7. He will oontinuously maintain hazard~inauranoe. of euch type or types snd smounts es Mortgagee msy ~ from time to time require, on th~ ia~p~o~ooq.ente now or hereatter on said premises and e.~capt when paymenL tor sll such premiuma has t,heretotb=e bden made under (s) of paragraph 2 hereof, ~e will pay promptly when due sny premiums thcrefor. All insurance shall be camed in companies appmved by 111ortgagee and the poli- ciea snd renewals thereof shsll be held by Mortgages snd bsve attached thereto losa payable clauses in isvor of and in form acceptable to the ;1+tortgagee. . In eveat oi loss he will give immediate notice by mail to Mortgagee, end :1~iortgagee may make proot oi Ioss. if not made promptly by Mortgagor, and each iasurance oompany c~oncerned is 6ereb authorized and d'uected to make payment for such loss direcUy to Mortgagee instead oi ~ to Mortgagor and ortgagee joiritly, and the insurance proceeds, or any part t6ereof, msy be applied by Morb gagee et tta op~ion either to ioe reduction of the indebtedne,sa hereby secured or to the restoratacn cr repair of the property dama~ed. In event of foreclosure oi this mortgage or other t.ransfer of title to the mortga~ed prnperty in extingu~shment of ~he indebtedness aecured hereby, a~? right, title, and int~erest oi the Mortgagor m and to any iosurance policies then in force shall pasa to the pucchsser or grantee. 8. If lhe pr~•n?is~~s, or an~~ part th~•re~of, lx~ ~~ondemnecl und~r th~ pow~r of euiinent dai~um, c,r acquired for a public use, tl~e cluuia~~~s uHareir~i. Ch~~ pro~•~~c•~Is for ~I~e tnkinK of, or thi~ ~onsid~rution for suc•h arqu~s~t~a~, to the rxtent of the full n~~~ount of U~c ren~ainin~ unpuid iud~btt~ilnc~s.~ se~~•urncl b~• tl~is ~i~ort~aKe, arc hernb~- ussikned to the ~tort~agee, un~l his li~~irs or assi~;~es, un~l ~l~ull b~~ pui~l forthwith to said ~tort~a~ce or his assi~r?ee to be applied on acc•ount c?f tl?e last maturn~~ iustallnu•nts of such ind~btedness; prn~•ide~l, hoK'~~'er, the ~1ortKuKeP or his assiKne~, inu~ at i~is d~•c•r~~tiou pa~- dir~•~•t to Ih~ ~lortgu~;or, his h~irs or assiRns an~~ part or all of such aw•ar~l; provided, that if th~ loun is Kuar~uU~~~~~1 or insun~cl, the consent of the guurantor or insurer is obtxined in ad~ ance o[ :~aid pa~•m~nt. 9• The Morigagee may~ at any.time pending a suit upon this mortgage, apply to the court 6eving juriediction tt~ereof for the appointment of a receiver, and auch oourt shall fort6with appoint a receiver of the premises covered ~ hereby all aud singular, including- all and singular the income~ pmSts~ isaues~ and revenues from whatever source derived, each and eveey of whicb, it being expressly underatood, ia hereby mortgaged se if speci6cally set forth and described in the granting and habendum clauses hereoi. Such appointment shall be made bq eueh court ss aa admit equity and a matter of absolute right to eaid Mortgagee~ and without reference to the adeqnacy or inndequac y~"'•' the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or t'~e defendents.' SuL~ ~ rents, profits. income~ issuea, end revenues shaU be applied by such receiver according to the lien of this mortgage j and the practice of such court. In the event of any default on the part of the Mortgagor hereunder. the Mortgagor ~ agrees to pay to the 1Viortgagee on. demand as a reasonable monthly rental for the premiaes an amount at leset ' equivalent to one-twelfth (yf z) of the aggregate of the twelve monthly instaqmenta payable in the then currer?L ~ year plus the actusl amount of the annual taxee, a~ssmente, water rates~ and inaurance premiume for such year not covered by the aforesaid monthly paymenta ~ 10. In the event of any b-each of this mortgage or default on the part of the Mortgagor; or in the event that ~ any of said suma of money herein referred tQ be not promptly and fully paid according to the tenor hereof, or in the event that each and every the stipulations, agreements~ oonditions~ and covenanta of said note and this mortgage~ ate not duly, pmmptly, and fully performed; then in either or any such evenc, the said aggregate aum mentioned in said note then remainiag unpaid, with interest accrued to that time, and all moneya secured hereby, shall become due and payable forthwith~ or thereafter~ at the option of said hlortgagee, as fully and completely us it all of the ~ said sums of money were originally stipulated to be paid on such dey, anyLhing in said note or in this mortgage to the oontrary notwithstanding; and thereupon or thereafter~ at the option of said Mortgagee~ without notice ar demand, suit at law or in equity, may be prosecuted as if all mone~ s secured 6ereby had matured prior to its institu- tion. The Mortgagee may foreclose this mortqage, as to the amount ao declared due and payable, and the said premisea ahall be sold W satisfy and pay the same together with coats~ expenses, and allowances. In case of partial fo*eclosure of~this'mortgage, the mortgaged pmmises ahall be sold subject to the continuing lien of this mortgage for the amount of the debt not then due and unpaid. In suc6 caee the provisions of thia para~sph may again be svailed of thereafter fmm time to time by the Mortgagee. i l. No waiver of any covenant 6erein or of t6e obligation aecured hereby shall at any time thereafter be hel~ to be a waiver of the terme hereof or of the note secured hereby. 12. The lien of t6is i~strument ehall remain in full force and etiect during any postponement or extension of the time of psyment of the indebtedneae or any part thereof eecured 6ereby. ~ 1:3. lf the Martgagor defsult in any of the covenants or agreements contained herein~ or in eaid note~ then the ~ Mortgagee may pedorm the eame, and all e~penditurea (including reasonable aEtorney'e fees) made by the MortgaRee ~ in so doing shall draw interest at the rate pro~ ided for in the principal indebtednc~ss, and sheli be repay nble thirty (30) days aiter demand, and, togethec with interest and costs accrued thereon, shall be secured by ~ this mortgage. ~ 14. Upon the request of the Mort~a~ee the Mortgagor shall ea~ecute and deliver a supplemental note or notes tor the sum or sums advanceci by the ~iortgagee tor the.alterstion, modernization, improvement, main- tcnance, or repai- of said premises, for taxes or as.~essments against the same and for aay other purpose author- ized bereunder. Said note or notes shall be secured hereby on a parity with and as [ully as i( the advance ~ evidenced tbereby were included in the note first described above. Said siipplemental note or notes shall bear ~ interest at tt~e rate provided for in the principal indebtedness and shall be payable in approximately equal ' ° monthly psyments for such period as may be a~reed upon by the creditor and debt,or. Failin~ to agree on the ~ maturity~ the whole of the sum or sums so aclr•anceci shell bc due and pa~able thirty (30) days atter demand by t6e creditor. In no event shall the msturit,y extend beyond t6e ultimate raaturity ot the no~e first ~ described above. ~ t; ~ ~~p ~ ; ~~OO 'r~1GE ~ ~ . - _ - - _ _ . . _