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Home My WebLink About0683 l teadet W the 1~iortgagre in accord4nce witl~ the provisions o( U~e note secu~ed I~ereb~•, tull payment of the entin indebtedness represented therebv, the Mortgagee~ as trustee, ahnll, in computing lhe sniount ot sucli indebtedness, credit to tl~e sccoun~ ot the Mortga~or Pn~y cred~t bslsnce reuiaining und~r tl~e provisions of (e) ot suid pua~nph 2. It there a}?all be • detault undeL any ot the provi~iona of this inortgs~e resulting in s publie aale of the pre~nisea covered }iereb~ or if tt?e Mortgagre acquirea the property otherw~se after de(ault, the Mortgsgee. as truatee~ ahall apply, a~l?e time of the co~n~nencernent ot such proceedinge or at~ tl~e lime the property ~a otherwise ecquired, the amount then reu~sining to credit ot Mortgsgor under (a) ot paragrep)~ 2 gra~ding ~s a rr~~it un the inierst accruec! ar.d un~sic! anc! tles balanre to the gr:ne~pe! then ren~sin~~?g ~~np~id on said note. 4. He will p~y all taxes, aeseaementa, water rst~es, aad otLer ~overnmenLal or municiP~l chsr~e0. fi~0. ~ impoeitions, for whic6 provision haa aot t,eea made hereinbetore, and in defsult thereot tbe Mortgagee may p~y tLe ~anie; ~nd ths! be will promptly deliver t6e o~icial reoeipts therefor to the Mortg~gee. b. He wW permit, oommit, or suner no ~vaate~ irnpsir~a~r~ or deieric,r~iion oi s~id prvperiy ar ~ny pa~ 'tiacu~ri esoept reason$ble ~esr snd tesr; and in the even~ oi t6e failure o! tbe Mortg,agor to keep t6e buildinga on eai~ prenniees snd thoee to be erected on eaid premiae~ or impmvemente thereon~ in good repair the Mortgsgee may make such repairs ae in its diecret~on it msy deem neceseary for t6e proper prescrvstion Chereo~~ and the full smount of each snd every such psyment sball be due aad p?ysbb thirty (30) .dsys sfter demand, and eball be se~ured by tbe lien of this mortg,sge. 6. He will psy sl! and angular the ooeta, c6srgee, and e:pensea includiaa reaaonable lswyer's feee, and oosts of abstracte of title, incun~ed or paid at say time by tbe Mortgagee becauee of Lhe lailure on the part of the Mortgagor promptly aad [ully to pedorm tbe agreement.a and oovensnte of esid promieeory note and this mortgage, and said ooete, cdargea, and expenses ehaU be immediately due e?ad p~ysble and ahsll be eecured by the lien ot thia mortgage. 7. He will oontinuoua~y maintain Lazard insurance, oi such type or types snd amounts as Mortgagee msy irom tame to time s~quire, on Lhe imgro4~ments now or hereaiter on said premises and etcep6 when payment tor all such premiuma hes theratofore been made under (s) of paragcaph 2 hereoi ~e will psy promptly whea due any premiums therefor. All insurance ahall be camed ia companiee spprove~ by l~iortgagee and the pofi= ciee and renewals thereo~ shnll be held by Mortgageo snd have attached thereto loea payable cfauseB ia favor oi and in torm acceptable to the Mortga~ee. In event oi loss he will give immediste notice by msil to Mortgagee~ and yiortgagee may mske proof oi Ioss if not made pmmptly by Mortgagor, and each insuranoe Qompany ooncemed is hereby~suthorized and directed to make payment for such losa directly to Mortga~ee inst~ead oi to :4iortgsgor snd Mortgagee ointly, and the insurance proceeds~ or any part thereof~ may be spp1ied by Mort. _ gagee at ita option either to t~e reduction oi the indebtednesa hereby secured or to the restontron or repair of the pmperty dama~ed. In event of foreclosure of this mortgsge or other transfer of title to the mortgaged property in extinguishment of the indebtedneas secured hereby, a~l right, title~ and intereet oi the Mortgagor m and to any insurance policies then in force ahall pnsa to the purchaser or.grantee. 8. If the premisi5, or an~- p~rt ti~en•of, bc~ cond~nnu~d under th~ pow~r of eminent dmiiu~n, or acyuired for a public use, tLe cinme~t~s awardecl, th~~ pro~•eeds for tl~e takinK of, or th~• ~onsic{eration for su~h acyu~.s~t~on, to _ the ertent of tl~e full nniount of the ren~aining unpui~l inclebtednc~ss serured h~• this ~nortgs~e, arr l~ereb~- ussiKned to Ilie ~tortga~ec•, und hi.s I?~irs or assi~?ns, un~l ~hvll FM paid torthwith to said ~tortgtige~ or liis assignee to Le applied on aec•ount uf the last n~aturiur iustalL~ients of su~•h indebtectness; provi~le~l, hoW~~er, the ~1ortK~~ec~ or his ~csignee, ii~u~- at liis ~lis~•r~•tion par dire~•t to th~ ~iortgugor, his heirs or assig~is an~ -part or ail of such aw•arcl; provi~lecl, tlint i( the loan is Ku:~rant~~ed or insured, ttie consent of the guurantor or insurer is obtained in acivance ot ~aid pa~•~uent. 9. The Mortgagee may, at any time pending a suit upon this mortgage, apply to the court having juriediction thereof for the appointment of a receiver, and suc6 court shall forthwith appoint s receiver of the premises oovered - hereby all arid singular, including all and aingular the income~ profits, isauea, and revenues from whatever souroe derived, each and every of which, it being ezpressly underatood, ia hereby mortgaged ss if epecificaUy aet forth and - described in the granting and habendum clauses hereof. Such appointment ahall be made by such court as an admitted ; equity and s matter of absolute right to said Mbrtgagee, and without reference to the adequacy or inadequacy of the value of the property mortgsged or to the aolvency or insolvency of said Mortgagor or the defendanta. Such ' rents~ profita, income, issues~ and revenuea ahall be applieJ by auch receiver acoording to the Ueu of this mortgage ~ and the practice of such court. In the.event of any default on the psrt of the Mortgagor hereunder~ the Mortgagor ~ agreea to pay to the biortgagee on demand as s ressonable monthly rental for the premises an amount at least E equivalent to one-twelfth (3~z) of the aggregate of the twelve monthly installments payable in the then current ~ year plua the actual amount of the a~ual taxes, asse~ments, water ratea~ and insurance premiwns for auch year ~ not covered by t6e aforesaid montWy p~ymente. " r ' 10: In the event of any b~ach of this mortgage or default on the part of the Mortgagor; or in the event that ~ any of said aums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in t6e ~ event that eacb and every the atipulations, agreements~ oonditione~ and covenents of said note and this mortgage~ ~ are not duly, promptly, and fully performed; then in either or any such event, the said aggregate 8um mentioned in eaid note then remaining unpaid, with interest accrued to that time, and all moneye secured hereby, shall become ~ due and payable forthwith, or thereafter~ at the option of. said Mortg,agee, as fully and completely ua if aU of the ~ eaid aums of money were originslly stipulsted to be paid on such day, anylhing in said note or in this mortgage to ~ the contrary notwithataading; aad thereupon or thereafter. at the option of said Mortgagee, without notice ~r demand, auit at law or in equity, may be prosecuted aa if all moneye eecured hereby had matured prior to its institu- tion. The Mortgsgee may foreclose this mortgage, as to the amount so declared due and payable, and the said premiaes shall be sold w satisfy aad pay the same together with coats~ expenses, and allowances. In case of pariial ~ foreclosure of this mortgsge~ the mortgaged premises shall be eold subject to the continuing lien of this mortgage ~ for the amount of the debt not then due and unpaid. In auc6 caee the pmvisions of this paragraph may again be ~ svailed of theres(ter lrom time to time by the Mortgagee. ~ I 1. No ~vaiver of any oovenant herein or of the obligation aecured hereby shall at any time ther+eafter be held ~ to be a~vaiver of the terme 6ereof or of the note eecured hereby. i 12. The lien of thia instrument ehall remain in full force and efiect during any postponement or extension of - tbe time oE psyment of t6e indebtedneae or any part t6ereoi aecured hereby. 13. I! the Mortgagor default in any of the coyenanta or agreementa oontained herein, or in eaid note, then the Mortgagee msy pedorm t6e eame, and all expenditures (including reasonabk attorney'e fces) made by the MortgaRee • in ao doing shall draw interest at the rate provided for in the principal indebtedness, and shall be rnpayable ~ ~ thirLy (30) dsys atter demsnd~ and, together with interest and costs accrued thereon, shall be secured by ~ this mortgage. . . - - , 14. Upon the request oi the Mort.~agee the Mortgagor shall ea~ecute and deliver a supplemental note or ~ notes for the sum or sums sdvanced by the titortgagee for the alteration, moderniza~ion, improvement, main- tenence, or repsi.- oi said premises, for taxes or assessments against the same and for any other purpose auLhor- ~ ized hereunder. Said note or notes shall be secured hereby on a parity wit6 snd. as fully ss it the advance F~ evidenced thereby were included in the note first described above. Said supplemental note or nol,es shail bear interest st the rate rovided for in the rinci al indebtedness and shall be pa able in sp - ~~s P P P Y P~rimately equal monthly payments for such period as may be a~reed upon by the creditor and debt,or. Failing Lo agree on the maturity, the whole of the sum or sums so sdvsnced shall b~ due and psyable thirty (30) days after demsnd ~ ~ by the creditor. In no event shall the maturity excend beyond the ultimate raaturity of ~he note firat ~ deacribed above. ~ R 29~ ~8~ goc~ Fnc: ~ ..r - - - - - - - - - _ ~ ~ ~i ~ ,.~x"- t.r -~n'"~ ~ ~ ~z s ~