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Home My WebLink About0100 ~'~~t~ " ~tl principal sum and accrued interest shail become due and payable without notice at the option ot the holder ihereot. And shall duly, promptly, and tulty pe~torm, d`scharge, exetute, eftect, complete, and comply with and abide by each and every the stipu- lations, ag~eem~nts. tonditions, and covenants oi said promissory note and this mongage, then this mortgage and the estate hereby created shall cease and be null and void. Md the Mo?tga~on turther covenar~t as to~lows: 1. That they will pay the indebtedness, as hereinbefore provided. 2. That. in order more fully to protect the security of this mo~tgage. the Mortgagors, together with and in addition to, the monthly payments unde~ the terms of any notes secured hereby, on,the tirst day of each month until said note is tully paid, will pay to the Mortgagee the tollowing sums: F (i'~C~ ~'i~111t~~Yd~CD1[~1l7~m0i~17Q4~1~ir0~~Ri~7tiC~K7~r~~[I~lC~X~~11~UbaRK 10[W~~~i d~1~pC~10p~~~ri~~~l~(1~(~YCICO~~I[OU[Q~~f~ItF1DD:Q~7C~kA14C06~~CC R1~18d~y'lf~SR~la~eX (b) All payments mentioned in the preteding subsection oi this parag~aph. and all payments to be made under any note secured hereby shall be added together and the aggregate amount the~eof shatt be paid by the Mortgagors each month in a singte payment to be applied by the Mortgagee to the following items in the order set forth: i 1, f ~ooium~ II. Interost on the note secured hereby: and ' 111. Amortization of the principal of said note. Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mo~tgagors prior to the due date of the next such paym~nt, constitute an event of default under this mortgage. The Mortgagee may collect a"late cha,rge" not to exceed two tents (2t) for each dollar of each paymerrt mo~e tha~ fifteen (15) days in aRears to cover the extra ex• _ pense involved in handling delinquent payments. 3. That if the total of the payments made by the Mortgagor~~under (a) of paragraph 2 preceding shall exceed the amount oi paymeMs actually made by the Mortgagee, tor taxes and assessments and insu~ance premiums. as the case may be, such ; excess shall be credited by the ~Mortgagee on subsequent payments to be made by the MoRgagors. If, however. the monthly pay ments made by the Mortgagors under (a) of paragraph ~ preceding shall not be suNicient to pay taxes and assessments and in- surance premiums, as the case may be, when the same shall become due and payable..then the Mortgagors shall pay to the Mort• gagee any amount necessary to make up the deficiency, on or before the date when payment of such tax~s, assessments, or insur. • ance premiums shall be due. If at any time the Mortgagors shall tender to the Mortgagee in acco~dance with the provisions of the note secured hereby, full paymeM of the entire indebtedness rep~esented thereby, the Mortgagee shall, pay to the Mortgagors all amounts then remaining in the tax and insurance escrow account he~d in connection with this loan: Ii there shall be a default under any oi the provisions oi this mortgage resuRing in a public sale of the prEmises covered hereby, or N the Mortgagee acquires the property otherwise after defauft, ~the Mortgagee shal! appty. at the time of the commencement of such proceedings or at the , time the property is otherwise acquired, the balance then remaining in the tunds accumulated under (a) of paragraph 2 preceding as a'credit against the amount of principal then remaining unpaid under said note. 4. That they will pay all taxes, assessments, water rates, and other govemmeotal or mUnicipal charges, ~nes. or imposi- tions, for which provision has not been made hereinbefore, and in detault thereof, the Mortgagee may pay the same and be secured by the lien of the mortgage; and that they will promptly deliver the official receipts therefore to ihe Mortgagee. 5. That they will pe?mit. commit, or suffer no waste, impai?ment, or deterioration of said property or any part thereof; and - in the eve~t of the failure of the Mortgagors to keep the buildings or said premises and those to be erected on said premises, or. improvements thereon, in good repair, the Mortgagee may make such repairs as in its discretion it may deem necessary tor the proper preservation thereof, and the full amount of each and every such payment shall be immediatey due and ~payable, and shatl be secured by the lien of this rtto?tgage. _ i 6. That they will pay all and singular the costs, charges. and expenses, including~ reasonable law~rers tees, and costs oi ~ abstracts of title, incurred or paid at any time by the Mortgagee because of the failure on the part of the Mortgagors promptly and fuliy to perform the agreements and covenants of said promissory note and this mortgage, and said costs, charges and ex- penses shall be immediately due and payable and shall be secured by the lien of this mortgage: ; 7. That they will keep the improVements ~ow ezisting or hereafter erected on the mortgaged property insured as may be y rtgagee against loss by fire or other hazards, casualties, and contingencies in such amounts ! required from time to time b the Mo f and for such periods as may be required by Mortgagee, and will pay promptly, when due, any premiums on such insurance tor pay- ' ment oi which provision has not been made hereinbefore. All insurance shall be carried in companies approyed by Mortgagee f and the policies and renewais thereof shall be held by Mortgagee and have sttached thereto losi payable clauses in favor of and in form acceptable to the Mortgagee. Renewal policies shall be delivered to Mortgagee at Ieast.l0 days priw to ezpiration of exist- ~ ing policy. In event of loss, they will give immediately notice by mail to Mortgagee, and Mortgag~e may rr~k~ proof. of loss if not ~ made promptly by Mortgagors, and each inw~ance tompany soncerned is Ae~eby authorized and drected to ~ake payment tor ~ such loss directty to Mortgagee instead ot to Mortgagors and Mortgagee joinl~i; and the insurance' proc~ds; or a~ty paR thereof, E may be applied by Mortgagee at its option either to the reduction of the ind~¢tedw~ss hereby secLred or to the rostoration or re- ~ pairs of the property damaged. In event of foretlosure of this mortgage or other transier ot title to the mortgaged property in ex- ~ tinguishment of the indebtedness secured hereby, all rigM, title and interest of the Mortgagors in and to any insurance policies then in force shall pass to the purchaser or grantee. ~ 8. That the Mortgagee may, at any time pending a suit upon this mortgage, appty to the court having jurisdiction thereof ~ for the appointment of a receiver, and such cou~t shall forthwith appoint a receiver of the premises covered hereby all and singu- lar, including all and singular the income, profits, issues, and rovenues from whatever souree derived, each and every of which, it - ~ being expressly undersiood, is hereby mortgaged as if spetifically set forth and described in the granting and habendum clauses ~ hereof, and such receiver shall have all the broad and effective functions and powers in anywise entrusted by a court to a receiver, ~ and such appointment shatl be made by such court~as an admitted equity and a matter of absolute right to said Mortgagee, and ~ without reterence to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of.said ~ Mortgagors or the defendants, and that such rents, profits, income, issues and revenues shall be applied by such receiver accord- ' ~ ing to the lien of t~is mortgage and practice of such couR. j 9. That (a) in the eve~ oi any breach of this m~rtgage or default on the part of the Mortg~gors, or (b) in the event that any of said sums of money herein referred to be not promptly and fully paid without demaqd or notice, or (cj in th~ event that each ~ ` and every the stipulations, agreements, conditions and covenants of said note and this mortgage, are not duy, promptly and fully ~ ~ performed: then in eithe~ or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest , $ accrued to that time, and all moneys secured hereby, shall become due and payable torthwith, or thereafter, at the option of said Mortgagee, as fully and completely as if all of the said sums of money were originally stipulated to be paid on sucb day, any- thing in said note or in this mortgage to the contrary notwithsta~ding: and thereupon or thereafter, at the option of said Mort- ~ ~ gagee, without notice or demand, suit at law or in equity, may be prosecuted as it all moneys secured hereby had matured prior ` ~ to its institution. The Mortgagee may foreclose this mortgage, as to the amount so declared due and payaWe, and the said ~ premises shall be sold to satisiy and pay the same together with costs, expenses, and allowances. In cases of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the continuing lien of this mortgage tor the amount of the debt not then due and unpaid. In such case the provisions of this paragraph may again be availed oi thereafter from time to time by the Mortgagee. , ~ ' ~ ° s~~~ 289 r~~E 1~ . . : ~ - - - - _ _ - - v . ~ ~ ~ ~ ~ ~ ~ _r ~ w s s - ~ ~ ~ 3 ~y~~~ ~ ~ ~ r } ~ - - a r- _ c. " - a';.<?,: . . _ . - - . . ~.;:~x:-~,-