The URL can be used to link to this page

Home My WebLink About0693 tender to ti?e 1~iortg~;ee in accorda~ce with tha pmvisiorw o~ tl?~ note secured !?emb~~, lull pa~•uienl ot the entin indebtedness represented thereby•, the MoKgagee, ss truatee, ahsll~ i~ con~puti~ig tl?e smount, oI sucli it?debt,eJneae~ credit to the account ot the 4lortgtiRor nny credit 6alance reinainin~; undPr the provi~iona ot (a) of said paragrsph 2. lt there shall be a defsult under a~y of tlic provisioris of this ~uortgs~e resulting ii~ s public sale of the preinisra covered l~ereb~ ~ or i~ tl?e tiiortgagre acqutrea the properly otherw~se •fter default, • the Mortgagee~ ae t~uetee, ahsU ypply, at the time of the coiuuiencement of euch proceedings or at tlie time the properly is ott~erwise arquirecl, the amount ti?en re~naining ~o creciit of Mongagor under (a) of paragrap}i 2 precediug aa a credit on the interest scccued and unpaid and the balance to the prtncipal then remaining unpa~d oa aaid note. 4. He wiU p~y all ta:es. aeeeesments. waLer nLes, and other ~overnmental or muoicip~l chai~ Gna, o~ laipoeitioDe, for which provision ha~s not beea made hereinbefore~ aad in def~ul~ thereot the Moct~gee m~y p~y t6s . ~ame; and L6~t be will promptly deliver t6e o~cial reoeipte tbecetor Lo tbe Mortg~~ee. 5. 8e ~rill peranit~ oommit~ or suRer no weate~ impairment. or deteriorstion ot e~id property or any part t6ereot e:cept resaonabb weu snd teu; i?nd in t6e event ot the failure ot the Mortg,aaor to keep th~ buildin~e on sui~ premeses and tdase to be erected on said premieee~ or improvements thereon~ in 6ood repair tt~ Mortaagee may m~lce eueh repairs aa jn ite dieeret~oa it may deem neoeaeuy for t6e pmper presc.rvation thereo~~ and the full amount of each snd every euch psyment ahell be due ~ad p?yabb thirty (30) daye atter demand, and ehall be secured by ; the lien of Lhis mortgage. 6. He will pay ull and aingular the oosts, chacges, aad expenees, includina reaeonabk lawyer's fees, and oosb ot sbatracta ot title. incun~ed or paid at any time by tbe Mortgagee becauee of the fi?ilure on the part of the Mortgegor promptly snd tully to pedorm tbe agreements snd ~covenante oi esid promieeory note and thia mo~~,gag~~ and eaid : ooeta, c6argee~ and expensea ahall be immediately due And p~ysble and ehsU be eecured by the lien ot t-his mortg~ge. ~ 7. He vvill oontinuously maintain hszard inaursnce, of such t~pe or Lypes and amounts as Mortgagee mey from time to time require, on Lbe improvemente nov? or hereatter on said premises and eacept when psyment tor all such premiuma has there~,otoro been made under (a) of paragrsph 2 hereoi ~e vvill pey prompWy when due any premiums lhcrefor. All insurance shaU be csrried in companies appmve~ by 111ortgagee and the poli- cies and reaewals thereof sh:?!1 be 6eld by Mortgagee and have attached thereto loss payable clausee ia favor oi and in form acceptable to the Mortgagee. In event oi loss he will give immediate notice by msil to Mortgagee~ and ~iortgagee may make .proof of Iosa if no~ made promptly by Mortgagor~ and each insurance uompany ooacerned is 6ereby suthonzed and d'vected to meke peyment for such losa directly to Mortgagee inatead ot rt to Mortgagor and `iortgagee ointly ~ anA t6e insursnce proceeds, or any p~rt thereot~ may be app7ied by Mor~ gagee at ~ta option eit6er to t~e reduction of the indebtednesa hereby secured or to the restoration or repair of the pmperty dama~ed. In event oi torecloaure of this mortgage or other tnnsfer of title to the mortga~ed property in extingwshment of the indebtedness secured hereby, a~l right,'tle, snd interest oi the Mortgago~ in and to any insurance policies then in force shall pasa to the purchaser or grantee. R. If the preniiuh, or un~- p:~rt thernof, b~ ~~on~li•ii~n~•~I un~ler th~ po~~~r of en~in~nt ~louiu~n, ur acyuir~d for e public use, tl~t• dauiaK~~s aHard~•~I, tlu• pro~•t•~~~Is for th~ tukin~; of, or thE• ~•onsid~ration for such a~•quuition, to the ixtent of the full an~ount oi tlic re~naininK unpnid in~l~bterlnt~ss sec•urMl h~• this ~~~ort~uRe, ar~ her~b~- ussiKned to t)u~ ~IortgaKe~. un~l hi.~ heirs or assi~;ns, un~l sl~ull t?r puid forthN ith to sai~l ~iort~?ag~e or 1?is assignee to l~e applie~l on a~~•owU u[ thi• lust n~uturi~~~ iustall~ui~nts of sue•I~ ind~bte~ines.s: pro~~i~l~d, Fiowe~•er, the ~1ortKuKce~ ur his assiKnee, n~u~- at liis di..~•r~•tion pu~• ~lir~~~•t to [he ~lortgnKor, his lieits ur ussiKns any part or al) of suc•1~ uw~ard; pro~•i~le~l, that i( tlic luun is ~;uarantc~~~~l or insurPd, tti~ eonsc~nt of the guarantor or insurer is obtaine~l in advance of said pn~•~nt•nt. - 9• The Mortgagee may~ at.any time pending a suit upon this mortgege~ apply to the court having jurisdiction thereof for the appQintment of s receiver, and such court sball forthwith appoint s reoeiver of the premises oovered hereby all and singular, including all and singular the income~ pro6te, isaues~ and revenuea irom whatever source derived~ each and every of- which, it being expressly underatAOtl~ ia hereby mortgaged as if apecifically eet forth and ~ described in the granting and habendum clausea hereof. Such appointment ahall be made by such eourt ae an admitted ~ eQuity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of r the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or the defendanta. Such E rcnts, profita, income, issuea~ and revenuea shall be applied by auch reoeiver acoording to the lien of thia mortgage ~ snd thp practice of such court. In the event of any default on the part o! the Mortgagor hereunder, the Mortgagor ~ a~ees to pay to the riortgagee on demand ae a reasoneble monthly rental for the premisea an amount at leaat ~ equivalent to one-taelfth (~z) of t6e aggregate of the twelve monthly installmenta payable in the then current - year plus the sctual amount of t6e annual taxes, assessmente~ wster rates, and inaurance premiums for such year t not oovered by the aforesaid monthly psymente. ~ 10. In the event of any b-each of thia mort~age or default on the part of the Mortgagor; or in the eveat that ~ ~ any of said euma of money herein referred to be not promptly and fuUy paid accordt'ng to the tenor hereof, or in Lbe ~ event that each and every the atipulations~ agreeme~ts, oonditione, and covenanta of said note and this mortgage,. r are no! duly, promptly, and fully performed; then in either or any such event, the said_ aggregate sum mentioned ~ in eaid.note then remaining unpaid, with interest accrued to that time, and all moneye secured hereby, ahall beaome ~ due snd payable forthwith, or thereafter~ at the option of said Mortgagee, sa fully and completely ua ii aU of the ~ eaid suma of money were ori~inally stipulated to be paid on such day, anything in said note or in this mottgage to ~ the contrsry notwithstsnding; and t6ereupon or thereafter, at the option of said Mortgagee~ without notice ~r ~ demand, suit at law or in equity~ may be prosecuted sa if all mooeys aecured hereby had mstured prior to ita inatitw ~ tion. The Mortgagee may torecl~se this mortgage, as to the amount eo declared due and pnyable, and the said : premiaea ahall be sold to satisfy and pay the same together w:th oosta~ expenses, and aUowances. In case of partial y foreclosure of thia mortgage~ the mortgsged pmmises ahall be aold subject to the continuing lien of this mortgage ' " for the amount of the debt not then due and unpaid. In suc6 csse the provisions of thie parsgraph may again be ; svailed oi thereafter from time to time by tbe Mortgagee. ~ ; 11. No waiver of any covenant herein or ot t6e obligation secured hereby ahall et aay time theresfter be held to be s waiver of the terma bereof or of the note secured hereby. ~ 12. The lien of thie inst,niment ehall remain in full force and eBect during any po~tponement or extenaion of ~ tbe t;me of psyment of the indebtedneee or any part t6ereof eecured hereby. = 13. If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then the Mortgagee may pe.rform the eame~ and all expenditures (including reasonabk attorney'e feea) made by the Mortga~ee : in so doing shall draw interest at the rate provicled for in the principal indebtednc~ss, and shall be repayable _ zf thirLy (30) days atter demand, and~ together with interest and costs accrued thereon, shall be secured by - this mortgsge. `i 14. Upon t6e request oi thc Mortgagee the Mortga~;or shall eacecute and deliver a supplemental note or - notes for the sum or sums ad~anced by the ~tortgagee for the alteration, modernizetion, improvement, main- ~ tenance, or repai~ ot said premises, tor taxes or as.acssments against the same and (or any other purpose author- = ized Lereunder. Said note or notes shall be secured hereby on s parity with and as fully as i[ the advance r,: evidenced tbereby were included in the note first described sbove. Said supplementa! note or notes shall bear ~ interest st the rate provided for in the principal indebtedness and shall be payable in ap proximately equal , monthly payments for such period as mey be a~reed upon by the credilor and debtor. Feiling to agrce on the ~ maturity~ the whole of the sum or sums so advanced shnll bc due and paysble thirty (30) days atter dcmand by the creditor. In no event ahaJl the mat,urity extend beyond the ultunate cieturity o! the note first ~ deacribed above. _ d~~~ 297 ~~~c 6~ ~ _ , - ~ ~ ~~`~~~u - 4 ~.~.r~~.; ~ _ _ ~ ~