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Home My WebLink About0789 tender l.o U?e+l~iortgagee in accordu~ce wi11~ lhe prqviuious of tlie not~ uecbred:liereb~•,~full nen~ ot the entire indebtedness repreKrr<<ed tliereby, tlie Mortgagee~ ~a truatee, al~all, in cun?puting tl~e eii~ount of sucl~ indebt,edness, cre~lit to tl~e accounl ot tLe Alortge~or any c~edit balxnce reinaini~~g under.the provi~ions of (s) of said paragraph 2. !f there st~all be • detault uoder any ot tl~e provieior~s ot ti~is uiortga~e rnsulting in a puWic sale oi the prem~ses covered herebp, or if the :~iortgagre acyu?res the propertv otherw~ae after clelault, tha Mortgagee~ ~s truatee~ shall apply~ at lhe tune of lhe couunencement ot such proceedings or at il~e time the property is ott?erwise acquired, the auiount then re~uaining to credit ot Mortgagor under (s) ot paragreph 2 precedi~g as a eredit on the interesC acecuecl and unpwid and tt?e Lalance to thr principal then remaintng unpaid on said note. ~ He will p?y atl taxes, ~eseeementa, water »Les~ snd other sovernmental or municiPal eharBes, fiaa„ or impositions, tor which pmvision haa not beea made hereinbefon~ snd in defiult thereof Lt~e Mortg~ee may p?Y tbe wne; ~nd thu~ 6s will gromptly deliver the o~cial reoeipts therefor to tJ?e Mortg~gee. b. He wnll permi~, oommit~ or suHer no weate~ impairment~ or deterior~?tion ot eaid proPettY or any part thereof e:oept reasonsbb Mear snd t~ear• snd in the event of the lailun of the Mortgagor to kcep the building,e on aai~ prem~ses end thoee to be erects~ on eaid premiees, or improvemente thereon~ in good repair the Mortg,agee msy : make such repaiis ea in its diseretion it msy deem neoeeeary for the proper pres~rvstaon tbeno~, and the fult umount ' of esch snd every euch psyment ahall be due and puysble t~hirty (30) daye dter demaad~ and ehsll be secured by the lien oi this mort~e. 8. He will pey all and ~ingul~?r t6e ooete, chae~ee, and expeaeee, iacluding reaeonable Iswyer's leee, end oosts of abstructa oI Litle~ incurred or paid at any time by the Mortgagee becauee of the failure on the part ot the Mortgagor pmmptly and fully to perform the ag~eements and oovenants of esid promieeory note snd thia mortg,age~ and said ooete, chsrge~ and expenses ahaA be immediately due and paya6le and a6sU be eecured by the liea of tlria mortg,sge. 7. He vviU oontinuous~y maintain hszard insurance, of auch type or types snd smounta ae Mortgagee may imm t,ime to time require~ on the impravemente now or hereaiter on said premises and ezcept when psyment ~ tor all such premiums 6sa theretofore beeu mede under (s) oi psragraph 2 hereof, ~e will pay promptly when ~ i due any prem~ums thcrefor. All insurance shaU be carried in companies approved by I1lortga~ee and the poli- ciea and renewala theroof shall be held by Mortgages and have sttached thereto loss payable clauses in favor oi • and in form acceptable to the Mortgagee. In event oi loss he will give immediate notice by.mail to Mortgagee, ; and 4lort.gsgee may make .proof of Iosa if not, made pmmptly by Mortgagor~ and each insuranoe oompany c~oncerned is hereby~authonzed and directed to make payment for such loss d'uectly to Mortgagee instead oi to Mortgagor and Mortgagee ointly ~ and the insurance proceeds, or sny part thereof, may be appLed by Mor~ gagee at tta option either w t~e reduction of Lhe indebte~nesa hereby secured or to the restorafaon or repau ot the pmperty dama~ed. In event ot forecloaure of this mortgage or other transfer oi title to the mortgaged property in extinguishment oi the indebtedness aecured hereby, afl right, title, and interest oi the Mortgagor m and to any inaurance policies thea in force shell pasa to the purchaser or grantee. 8. If tl?e pmmi~~, or ut~~• purt the~ri•of, be ~•on~lenuicd uu~ler the pow•er o[ ewin~nt domnm, or acquired for a public usc~, tl~e duma~~•s axarded, thE~ proi•~~eds (or the takink of, or tt~e ~onsiclerution for surl? acqu~s~tiou, to tl~e extent of tLP full n~nount of tl?e rrn?ainiuK unpni~i 111lIPVl1'I~IIf'U s~~i•ured b~• this ~nort~aKe, ar~ 1?ereb~- ussiKned to th~~ ~tort~a~ee. un~l his li~~in or ussiRus. s?n~l •hull ix~ ~~uid forChw~ith to suid ~lortgaKe~e or Lis ` ~iKnee to bc~ applied on acrount of thr lust niuturu~~ install~u~•i~ts of su~•L in~lc~bt~dnec,: prn~•ide~l, }?oH•c•~•er, i tl~e ~lortga~c~~ or i~is :tssi~ne~•, niu~- at his di~~~rt•tio~~ pu~• dire~•t to the ~Iortgukur, l~is I«~i~ or ~csi~ns an~• part• or all of sucL a~saril; pro~uled, tl~at i( the lou~i is Kwiruntr~d or insurnd, th~ ~•onsent of the guara~itur or insurer = is obtained in a~~~•ance o( sai~l pa~'met?t. ' 9- The Mortgagee may, at any time pending s suit upon t6is mortgage, apply to the court having juriadiction thereof for the appointment of a receiver, and such co~rt sh~?ll fort6with appoint a receiver of the premisea covered hereby all arid singular~ including all and singular the income, pm6ta~ iesues, and revenuea from whatever source derived, each and every of which~ it being expreasly undeistood, is hereby mortgaged aa if apeci6cally set forth and described in the granting and habendum clauses bereof. Such appointment shsll be made by such court as r?n admitted equity and a matter of absolute rig6t to said Mortgagee~ and without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency oi said Mortgagor or the defendants. Such rente, profita. income~ isaues~ and revenuea shall tfe applied by such receiver acoordi~g to the lien of this .mortgage ; and the prsctioe of such oourt. In the event of any default on the part of the Mortgagor hereunder~ the Mortgagos F to psy to the Mortgagee on demand ss a~ reasonable monthly rental for the premises sn amount at lesst ~ ~ ent to one-twetfth (y~z) of the aggregste of the twelve monthly installments payable in the then current ~ year plus the actual amount of the annual taxea, essessments, water rstes~ and insurance premiume for such year not oovered by the aforesaid monthly psyments. ~ l0. 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 auma of money 6erein referred to be not promptly and fully paid according to the tenor hereof, or in the event thst eacb and every t6e atipulations, agreements, conditione, and covenants oi said note and this mortgage, ~ are not duly, promptly, and fully pedormed; then in either or any suc6 event, the said aggregste aum mentioned in esid note then remaining unpaid~ with intereat accrued to that time, and all moneya secured hereby, shall become due and payable forthwith, or ther~after~ at the option oi said- Mortgagee~ as fully and completely se if sU of the eaid aums of money were ori~inally stipulated to be.paid on such dey~ anything in said note or in this mortgage to the contrary not~vittistsnding; sad thereupon or thereafter, at the option of said Mortgagee, without notice ~r demand, suit at law or in equity, may be prosecuted as if al1 moneya secured hereby had matured prior to its institu- ~ tion. The Mortgagee may foreclaee this mortgage~ as to the amount so declared due and payable, and the said _ premiees ahall be sold to satisfy and pay the same together with costa, expenaes, and allowances. In case of pe?rtiel ; ~ foreclosure of thia morigage, the mortgaged premises shall be sold subject to the continuing lien of this mortgage ~ for the amount of the debt not then due and unpaid. In such case the provisiona of thia paragraph may again be ~ svailed of thereaiter from time to time by the Mortgagee. ~ i l. No waiver of any oovenant herein or of the obligation secured hereby ahaU at any time thereafter be held ~ to be s waiver of thf jerms hereof or of the note eecured hereby. 12. The lien ot this instrument ahail remain in full force and effect during any po~tponement or extenaion of the time of ppyment of tbe indebtedneas or any part thereof eecured her~by. ~ 13. If the Mortgagor default in any of the covenante or agreemente contained 6erein, or in aaid note, then the ~ Mortgagee may per(orm the eame, and all ezpenditures (including reasonable attorney's fces) made by the Mortgagee i in so doing shall draw interest at the rate pro~ ided for in the principal indebtedness, and shall be repayable ~ t6irty (30) days atter demand, and, toget6er with interest and costs accrued thereon, shall be secured by ~ thi~ mortgage. ~ 14. Upon the request of the Mortga~?ee the Mortgagor ahall eaecute and deliver a supplemental note or ~ notes for the sum or sums advanced by tbe ~tortgagee for the alteration, modernization, improvement, main- tenance, or repair of said premises, for taxes or as.aessments against the same and for an} other purpose author- ~ ized hereunder. Said note or notes shall be secured hereby on a parity with and as tully as if the advance ~ evidenced thereby were included in the note 6rst described sbove. Said supplemental note or notes shall bear interest st the rste provided for in the principsl indebtedness and shaU be payable in ap pmximately equsl monthly payments for such period ss msy be agreed upon by the creditor and debtor. Failing to agree on the - m,turity~ the whole of the sum or sums so advanced shall bc due and ps}able thirty (30) days after demand ~ by the creditor. In no event shall the msturity extend beyond t6e ultimste na~urity of the note first ~ described above. j ~ d(3~~1 ~ PACf 7~ _ e_. .w _ . : . - - - - _ ~ _ - ;:3 -