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Home My WebLink About0379 cfs AND M+e soid Mo~tya9o? he~eby covenonts and o~rees with the soid Mortgapee as fo~tows: FIRST: Thot the Mortpagor is law(vlly seized of Me obove deur~bed prem~ses ~n fee s~mple ond has pood riQht to sell and ca+vey tha some to ~he Mort~a~ee; that ~he said prem~ses ore f~se and dischorged of and from oll toxes, ~ox titles o? cert~ficates, jud9ments, mcchonic's liens a~d encumbronces of any nafure or ki~d whotsoever ond tho/ the Mortgoyor wilt fully worranf and defend Me same to ~he Mo~tqogee, agoinst the lawiul claims and demonds of oll persons whomsoever, ond will make such furthe? ossurances to perfet? fee simple title to soid lond, in fhe Mortgogee, as may reasonable be ~equired, ond will poy the severol svms of money a~reed in the soid note to be poid ond oll instatlments of principol and inte~est thereon p?omptly when due, and accordi~g to ~he ~rue tenor ond elFect of Me said ~ote. SECOND: Thot Me MortQogor will poy all ond singula? the taaes, ossessmenls, tevies, ond enc~mbrances of every ~oture on fAe above dexribed properfy, ond upon fhis mortgaQe and nofe, or the money setured thereby, before delinquency thereof ond receipts evidencing pormenf of soid loxes, essessme~ts, levies ond encumbrance: sholl be deposited with the Mortgogee on o~ before Morth Ist of eoch sutteedi~g year during the term of Mis n+ortgoge; ond if samr be not promptly po~d when due, the Mo~tqogee mor (w~thou~ obligotiw? to do w) par the same, or become purchaser of any lowful e~~derxe the~eof, or certificote therefor, wifh01J1 wQivi~9 O~ O~ltfin9 any righf hereunder and in this morigoge, or the said note which this mortgoge setures; and - suth poyments or expenditures so ~*ode shall beor interest from the dafe thereof at the rote of el(J~lt & 3/4 (8. 75$~ ' pe~ onnum. TH1R~: That Me Mortgagor will keep all reol ond personal property now or hereafter encumbered by the lien of this morrgage insured os may be required from time to fime by the Mortgogee againsf loss by fire, windstorm ond other hozards, casuolfies and cor+tingencies for such periods and for not less thon suth amounfs os may be ~equired by the Mortgogee ond ~o poy promptly when due oll premiums for such insurance. The omounts of suth insuronce required by the Mo~tgagee are expressive of only the minimum omounts for whith soid insurancc shall be written and it sholl be incumbenf upa+ Ihe Mo~tgagor to maintain such additional insurance as may be nctessary to meet and complr ful~y wifh oll to-insvrance ~equirements contoined in said policies to the end fhot said Mortgagor is nof o co-insuror thereunder. Iruurance sholl be w?ilten br o compony or companies opproved by the Mortgagee and all polities ond renewols thereof shall be held by the Mortgagee. All detailed desig~ations br fhe Mo?tgogor which ore ouepted by the Morfgagee ond all agreemenls between Mortgogor and Mortgogee relating to insurance, now existing or hereofter tnade, shall be in writing and shall be a po?t af this mo?fgage ogreemenf os fvlly as though set forfh verbotim herein and sholl govern both porties herefo ood fheir successon and assigns. No lien upon any of said policies of insurance or upon anr refund o? refum premium which moy be poyoble on fhe tancellation or terminotion thereof, shall be given to other thon the Mor1- gagee, excepl by proper endonement afFixed to such polity and approved by Mortgagee. Eoch policy of insuronce shall have ofFixed thereto a Sfandard Mortgagee Clause aueptable to the Mortgagee, maki~g all bss or losses under such policy poyoble to the Mortgagee as its interesf may oppear. In the event any sum or wms of money become poyoble thereunder the Mortgagee shall have fhe option fo reteive and apply fhe same on account of fhe indebtedness hercby secured, or to permit the Mortgagor to receive and use if, or any part thereof, wifhout therebr waiving or impairing ony equity, lien or right under and br virtue of this mo?tgoge. In event of loss or physical domoge to the mortgaged properrp the Mortgagor shall give immediate notice thereof by . mail to the Mortgagee ond the Mortgagee may ~nake proof of bss if fhe same is not made pranptly by the Mortgogor. In evcnt of forecbsure of this mortgage or other transfer of fitle to the mortgaged property in extinguishment of the indebtedness secured hereby, all righf, fitle ond interesf of the Morfgagor in and to any insurante polities theo in force shall pass to the purchaser or granlee. Upon any defoult H?ereof, the Mortgaget may (but withouf obligation on its part w to do) plote insurance on suth buildings and pay the premium and tharge such sums so poid to the Mortgagor and such sums of money so paid shall beor interesf from the date of payment ot the rate of eictht & 3/4 (8.75$) per annum. i FOURTH: That oll sums of money paid or taused fo be paid by the Mortgagee under the terms of this mortgoge and hereio ! specificolly provided for, and intluding anr expenses incurred by ~he Mortgogee in colletfion of the sum secured by this mortgage, i sholl be covered by fhe lien of this mortgage, the same as the sums of money represented by the note which this mortgoge secures. ~ . ~ F1FTH: To permit, commit or suffer no woste, impairment or deleriorotion of soid properiy, or ony port thereof, and upon E the failure of the Mortgagor to keep the buildings on said p?opertr in good tondition of repair, the Morfgagee moy demond the ~ ~mmediote repair of soid buildings, or an increase in the arrwunt of security, or the immediate repaymen~ of the debt hereby secured, and the foilure of the Mortgagor to comply with soid demond of the Mongagee for a period of fifteen (15) days shall ~ consfifufe a breath of this rtwrfgage, o~d, af the opfio~ of the Mortgagee, immediately moture the entire unpaid pr~ncipal and interest hereby secured, and the Mortgogee mar, without notice, instifute proceedi~gs to foreclose this mortgoge, and apply for ~ the appointment of a receiver, as hereinafter provided. ~ SIXTH: Thot fhe Mortgagor herebr promises, tovenants ond agrees to poy the sums of money and interest os mentio~ed ~n said promissory rate, together wi!h any and all other sums justly d~e and owing the Mortgagee by the terms therein, and sec~red lo be poid as sfated therein promptlr when due. If default shal: be made in the payment of the soid s~ms of money or any part thereof os provided in the said note or fhis mortgage, or if the interest that may betome due thereon or any part thereof shall be in defoult and ~npaid for a space of fifteen (15) days, or should the Mortgagor breach or foil to comply with ony other cove~ant or ogreement on the part of the Mo?tgagor fo be tomplied with (in those tases in which the option of /he Mortgogee of otcelera- t~on is not otherwise expressly provided herein) and such breoch or non-complionce co~tinue in existence for o space of fifteen (15) doys, fhen and frcm thencefortF~, ot the option of the Mortgogee and without notice to fhe Mortgogor, the whole of so~d principal ~;r sum expressed in said note, fogether with oll other sums therein as well as herein provided for, sholl become immediotely dve ond ~ pnyable, wi!hout notice 1o the soid Mortgagor. ~ ~ ~ SEVENTH: Thet in case it should betome necessary to plote this mortgage and the rafe secured hereby or either of them, in the hands of an attomey for tollettion, the soid Mo?tgagor covenants and agrees with the Mortgagee to poy oll costs, charges ~ and experues of such collection, irxluding reasonable ottomey's fees whether collected by foredosvre or otherwise. _ ~ ~ EIGHTH: That, in ?he eve~t anr suit is brought upon this mortgoge, whether to foreclose it, to reform ~t, o? othe.wise, ~ and; or fo enforte poyment of any claim hereunder, the Mortgagee moy apply to any court having jurisdiction thereof for the ~ oppoinfinenf of a receiver of said mortgoged property, os well os fhe income, profits, issues ond reven~es thereof, o~d the soid ~ - ~ - 2 - ~~~FC ~~7~ ~'rC: 379 ~ ~ z.. _ _ ~ , _ _ _ _ . _ _ _ _ ~ ~ - ~ ~ ~ ~ x ~ ~ _ ~ ~ ~ ~ ~ ~ y t