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Home My WebLink About0654 ~~fs ANO M?~ soid Mo~tyopor h~r~by tov~nanfs ond oQre~~ with M~ soid MortQoqe• as tollows: FIRST: That tM MoNpoqo~ i~ lowfullr s~ised of tM abov~ describ~d premises in f~e ~imple ond hoi pood ri~hl to sell ond convey tM ~on~ 1o N+e Mortqoqe~; 1F?ot th~ said premii~: cr~ fre• ond dischor9ed of ond lrom all toxes, tox ti~ies o? ceAiAco~ei, jvdyments, mechanic's li~ns ond encwnbranc~s of any notur~ or kind whotsoa~er ond thot rhe N'•o~+po9w will full~ wor~onl or+d d~Fe~u1 fh~ some to N+e Mortqogee, o~oinst th• lowful cloims ond demonds oI all persons whomsoever, and will make such fu~the~ asw~ancss ro p~~fect fee sin?pl~ ti?Is to soid lood, in M~ MortQope~, as moy reosonable be required, ond will poy Me several ' i~ Ilme~ts of ri:~ci ol ond interest thereon p~omptly when due, o~d occo~din9 ro Me trve tenar and eRect of Me soid note. ~ SECOND: Thot Me Mortgoqor will poy oll and sinqulor the toxes, assessmen~s, levies, ond encumb~onces of eve.r ~+a~u~e on the obove deuribed property, ond upon Mis n?ort~oqe and note, or the money setured thereby, before deli~quencY thereof and ~eceiph evidencin~ poyment of said laxes, assessments, levies ond encumbronces sholl be depositsd wiM the Mortgogee on or before Morch lst of eoth sutceediny yeor duriny the term oF this nartyoge; o~d ;f same be not promp~iy poid when due, Me Mortyoyee may (without obligo~ion to do so) poy tAe some, or become purcheser of onr lowful evidence thereof, o~ cerlificote the~efo?, without waiving or alFecting any right herev~der ond in Mis nw?tgege, or the soid note which this mortgoge secures; and such poyme~ts o~ expenditures so mode sholl bear interest from the date thereof at Me rate of eight & 3/4 (8. 75$) , per annum. - • THIRD: Thof the Mo~tgagor will keep all reol ond personol prope?ty now or hereaftcr encumbered br ?he lien of this ~ mortgoge insured as moy be raqvired from fime to time by the Mortgoyee agoinst loss by fire, windstorm ond other ho:ards. cosuolties and contingenties fw wch periods and for not less thon suth amounts as moy be required by the Mortgogee ond fo poy ' promptly when due all premivms for such iosuronce. The onwu~ts of. such insurance ~quired by the Mo~tgagee are expressive of only H+e minimum omovnts for which said insuronce shall be written and it sholl be incumbent upon the Mo~tgagor to maintoie s~fi addifiaw) insu~once as may be necessory to meet and tomply fvliy wifh all to-iosuronce requiremenh confoined in said policies fo the end that said Mortgogor is not o co-insuror the?evnder. Insurance shall be written by a company or companies approved br the Mo~lgagee and all policies ond renewals lhereof sholl be held by the Mortgagee. All detoiled designotions br the Mwtgogo~ which are attepted by the Mo?tgagee ond alf agreemenh between Mortgepor and Mortgagee relotinb ~o insu~ance, now exist~ng or hereafter inade, sholl be in wri?ing ond sholl be a port of this mortgage ag?eement as fully as though set fo?th vcrbotim herein - and sholl govern both parfies hereto and Meir sutcesson ond assigns. No lien upon any of said policies oF irnuronce or upon ony refund or retum p?emium whith moy be poyable on the corxellotion or termination thereof, sholl be given ~o other thon the Mort- gogee, excepl by prope? endoneme++t efFixed to wch policy arsd approved by Mort9agee. Each policr of inwronce shall hove ofFixed the~eto. a Stondard Mortga~ee Clouse oiceptoble to the Mortgagee, making oll loss or bsses w~der wch poliq? poyable to the Mortgagee as its interest may oppear. M the event any wm or sums of nwner become poyable therevnder the Mortgo~ee shall have the optan to receive and applr fhe somc o~ account of the indebtedness hereby secured, or to permit the Mortyogor to receive aod use if, or ony port Mereof, without thereby woivioy or impoiring any equity, lien or right under and by virtue of this mortyoge. In event of loss o? physitol domaQe fo the mortgaged property the Mortgogor sholl qive immediate notice thereof br mail fo the Mortqoyee ond the Mortqagee may make proof of bss if the same is not made prompNy br the Mwtgagor. M event of forecbwre of this nwrtga9e or other trarufer of title to the mortgaged property in exti~guishment of the indebtedness secured hereby, oll right, tiNe and interest.of fhe Mortgagor in and fo any inwronte polities then in forte sholl pass to the pur~oxr or grantee. Upon anr defeult thereof, Ihe MoHgagee may (but without obligation on its port so to do) ploce insuronce oo wch buildirys and poy the premium one! charge such sums so paid to the Mortgagor and sucfi sums of moi,ey so poid sholl bea~ interest from the date of paymentaf the rote of e1c3Ylt & 3/4. (8. 75$) pe~ a~num. ~ fOURTH: That alf sums of moner paid or caused to be paid by the Mortgagee under the terms of thi: mortgage ond herein ` spetifrcally provided for, ond induding any experues incurred by fhe Mortgagee in collection of the sum secured br this mortgage, ~ shall be covered by the lien of this mortgage, the some as the sums of money represented by the note which this mortgage secvres. ~ NfTH: To permit, commit or sufFer no woste, impairment or deferioration of said properly, or ony part thereof, ond upon ~ the foilure of the Mort a or to kee fhe buildin s on said ro e?t in ood tondition of re oir, the NOort a ee mo demond the 9 9 P 9 P P Y 9. P 9 9 Y € ~~nmediafe repair of soid buildings, or on increase in the amiwnf of seturity, or the imnsediafe repoyment of the debt hereby ~ secv?ed, ond fhe failure of fhe Morfgagor to tomply with said demond of the Mortgagee for o period of fifteen (1 S) days shall ~ constitufe o breod? of this mortgage, and, af the opfion of fhe Mortgogee, immediately moture fhe entire unpaid principal and ~nterest hereby secured, and the Mortgage~.moy; withovt notice, institute proceedings to forecbse th~s mo~tgage, and apply for tF?e appoiniment of a receiver, os hereinofter provided. ' ~ SIXTH: TF~of the Mortgagor hereby promises, wvenonts ond agrees to poy the s~ms of money a~,d interest as~mentioned in said promissory nofe, fogether with ony and all other sums justly dve ortd owing the Mortgagee by the terms therein, and secured to be pafd os stated therein promptly when due. If default shal: bt made in the payment of thr said sums of money or any part ~ the~eof os provided in the said nofe or this mortgoge, o? if the interest that may become due thereon or onr part thereof shall be ~ in defau~a~+d unpaid for o spoce of fifteen (15) doys, or should the Mortgagor breach or foil to comply with any other covenont or agreement on the port of the Mortyagor to be comptied with (in those ca:es in which fhe option of.the Mortgagee of occelera- ~ rion is not otherwise expresslr provided herein) ond such breoch or ran-complionce continue in existence for a spoce of fifteen ~15) ~ doys, then ond from thenceforth, ot the option of the Mortgogee ond without notice to the Mortgogor, the whole of soid pcincipal ~ sum expressed in soid note, together with all other sums therein as well as herein provided for, shall become immediotely d~e ond payable, without ratice to the seid Mo~tgagor. ~ ~ ~ SEVENTH: Thot in case it should become necessary to ploce this mortgoge and the note secvred hereby or either of them, ~ in the honds of an ottorney for collection, the said Mo~tgagor coverronh and agrees with the Mortgogee to pay all costs, chorges ~ ond expenses of such collection, includinQ reasonable atto~ney's fees whether collected by foreclosvre or othe.wise. ~ ~ EIGHtH: Thal, in the event ony suit is brouyht upon this mortgo~e, whefher to foreclose ~t, to .eform it, or otherwise. ~ ond; or to enforce parmen~ of any claim hereunder, the Mort~o9ee may apply to ony court hoving ju.isdiction thereof ior the oppointment of o receiver of soid mortyeged property, os well os the income, profits, issues and reve~ues Mereof, ond the said ~ 0 ~ - 2 - SURK ~09 PACE 651 ~ i ~^-::~sx ~ - `~Y = - ~.~H - ~ _ z~~~? n ...~w - ;,sry ' _ _ :a .