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Home My WebLink About0446 . t' ~ : ~ tender to U?e 'Mortgu~re in ~ccurd~u~•e witl~ the provisiona ot tl~e note t~rcured I~ernbv, full pa~•~uent ut the antin indebtedness reprt~entec! tl~erebv, the Mortgugee, aa trustee, at?all, in con~putinR Il?e an?c,unt ot aucl? : iadebtedness. credit to tlie sccount of tl?e :1'Iortgagor any eredit balance reinaining w?~ler tlic provi~ious of (a) ; o( suid p~raph 2. !f there al?all be a default uade~ aay. ot the provisions o! thia niortga(se resulting in a ~ puWic sale o the preniiaes covereci bereb~, or if the Mortgagre acyuu~es tl~e propeny ott?erwa~e atter defsulc, ; the Mortgsgee. ~s truetec, ahall apply~ at the tune ot the coiu~uenceinent of sueh proceetlings or at the time the property ia otherwiae acquirecl~ the tuiount then ren~sinin~ to cr~lit of Mortgsgor under of para~;r~ph 2 preceding ae ~ credit ot~ the intereat sccrued and unpaid e?nd tl?e balance to tl?e pruic~pal ti?en reuiaiu~ng unpaid on said note. ~ ~ . 4. He wiU p~y ~11 Laxee, ~eeesments, water rates. aad otber ~overnmental or municipal ehargea, fiae~„ os ~ impa~~sQne, for whicl~ proviaioa haa not been made hereinbetore, ~ad la default thcreoi t6e Moct~6~ ~U? P~Y ~ ? ~ame; aad th~t 6e will promptJy deliver the official reosipta t6e~efor to tbe Mortgaaee. ( a__ . ~_._1_~.:. • ~ HO ~ P6i~ii~ OULiWi~y uc eiuaw uv +`r:6wirui au.~SwasaaacL~~ w ua.K.aaw~.wvu ~ or~i ~vr.~+.j w 3Dp ~fi ~18Z'EOt 2 except reaeonabb ~vear aad t~ear• sn~ in the eveat ot the tailure of t6e Mortg,s~or t,o keep the buildinp on aai~ ear ~ premises and thase to be erecte~ on said premises~ or impmvements fberean~ in ~ood repair tbe Murt;agee msy s make suc6 repwin aa in ita discretioa it may deem aeoees~ry tor the P='oP~ Prescrvation thereo~, aad t6e full amounti ~ of eacb and every such p~ymen! shnll be due aad pay~bb thirty (30) dsys att~ demand. and ahsll be eecured by t6e lien ot Lhis mortge~e. . - , 8. He will psy all and eingulsr the ooats, cbarg~. and expenees, includina reaeonable lawyer'a fees, snd oost~s ' ot sbstracf~s of title, incun~ed or p~id at my time by t6e ?1Rort~ee because of the tailure on the par~ of tDe Mo~or , pmmptly aad fully to pedorm tbe agreements and covenante of aaid promieeory note and thia mortg,age, and eaid ~ ooeta, c6srgea, and expeneea shall be immediately due snd psysble snd shaU be aeoured by the lien of this mortbnge. ~ 7. He will oontinuously maintain Laaard iosurance, of suc6 type or types aad amounts ~s Mortgagee msy from .time to time require, on the impmvemente nov? or hereatter on ssid pnmises and eacept when psymenti tor sll such premiums hsa theretofore been mude under (a) oi psragraph 2 hereof ~e ~vill pay promptly when ~ due any premiums thoretor. All insurance ahsll be csrried in oompanies ~pprove~ by 111artgagee and the poli- cies and renewsls thereoi ahall be held by Mortgagee and hsve sttached thereto loas psyable clausee in favor of and in form acceptable to the Mortgagee. In event of loss he will give immediate notioe by mail to Mortgagee, and Mortgagee may make prooi o~t Ioas ii not made pmmptly by Mortgagor. and ea~ch inaw~ance oompany ooncerned is 6ereby authorized and direct~ed to mal~e payment for such loas directly to Mort~a~ee.inetead of to Mortgsgor snd Mortgsgee jointly, snd the inaurance praceeds, or any part thereoi, msy be spp~ied by Mor~ gagee at ita option ei~her to the reduction of the indebtednees 6ereby secured or to the restontion or repair of the property dama~ed. In eveat of foreclosure of this mortgage or other transter of title to the mortgaged property in extingu~shment oi the indebtednesa eecured hereby, a~l right, title, and intereet of the Mortgagor . m and to any inaurance policies then in force a~sll pasa to the purc6aser or grantee. 8. If the prcniisi~s, or un~- part thernof, tx~ eondeiuu~~d un~lcr tl~r power of eniinent do~iiu~u, ur acc{uiri•d !or ~ e public, use, tlie dau?aKes aw•arded, the pro~•e~~~is for tl?e taki~ig o(, or thN ~onsideration for such_ acyuisition, to the extent of the full nmount of the r~~n~aininK uupvid indebteclne~s sec•ured b~- th~s mortgai;e, arn hereb~- assigned to th~• ~tortgaKee, un~l hi.s 1?rits or ussi~;n~, au~l shull tH~ paid forthNitli to said ~lortgage~ or l~i.g assignee to l,r applied on ac•c•ount of thi~ lu~t maturin}~ iustallm~~nts of such ind~btedness; pro~•ided, hovre~er, the S1ortKu~e~ or hi.4 :~ssiKnee, uiu~- at l~is dis~•n•lion pa~- ~liri~~•t to th~ ~1ortgAgor, l~is hei~ or assiKus su~• part er e!1 ~f su!•I~ aN-Hr~1; ~m~~i~leci, th~t if thr louu is ~unrunte~•~1 or-insured, the consent o( th~ guuranlur or insurer is obtained in advance o[ said pa~~~uent. • The Mortgagee may, at any time pending a suit upon this mortgage, apply to t6e court having juriadictioa t6ereof for the appointment of a receiver, and such court ahall forthwith appoint s receiver of the premisea oovered hereby aU aad singular, including all and singular the income, pro6te, issuee~ and revenuea trom ~vhatever source i derived~ each and every of which, it being expressly understood~ is hereby mortgaged t~a if apeciScally eet forth and deecribed in the grsnting and habendum clausee hereoL Such sppointment shstl be made by such oourt ss an admitted equity and s matter of absolute rig6t to said Mortgagee,, and without teference to t6e adequacy or inadequacy of the value of the property mortgaged or to t6e ~olvency or insolr•ency of said Mortgagor or t5e de[eadanta. Such rents, profite. income~ isaues, and revenuea shall be appliecl by such receiver aocording to the lien of this mortgnge ~?nd the practice of such court. _ In the event of sny deEault on the part of the Mortgagor hereunder, the Mortgagor egrcea to pay to the Mo on demand aa a rea.gonable monihly rental for the premiees ea amount at teast ~ equivalent to one-t~relfth~of the aggregate of the twelve montbly installmenta psyable in the then current r ~ year plus the sctusl amount ot the annual taxes, a~e~seasmente, water ratee, and insursnce premiuma for euch year ; ~ not covered by the aforesaid monthly paymente. 4 10. In tLe event of sny b~each of thia mortgage or default on the part of the Mortgagor; or in the event thst ` ! sny of said awns of mocey. herein referred to be not promptly and tully p~aid according to the tenor hereof, or in t6e ~ event that each and every the atipulstio~, agreements. oonditions, aad oovenaata of said note and this mortgage~ ~ are not duly~ promptly, and fully periormed; then in either or any such event, tl~e aaid aggregate aum mencioned in esid note then remaining unpaid, ~vith interest accrued to that time, and all moneye secured hereby, ahall become i due and psyable forthwith, or thereafter~ at the option of said Mortgagee, as fully snd compietely ue if all of the ~ ~ asid sums of money were ori~inslly stipulated to be paid on such day~ anything in said note or in this mortgsge to ~ the contrsry notwithstanding; snd thereupon or thereaiter~ at the option of said Mortgagee~ without notice ar demand, suit at law or in equity, may be prosecuted sa if all moneys secured hereby had matured prior to its institw tion. The Mortgagee may forecloee this mortgage~ sa to the amount ao declared d~e and p~yable, and the said _ ~ premiees ahall be sold to eatisfy and pay the same together with ooets~ e:penees, and allo~vsaces. In case of pe~rtial forecloeure of thia mortgage, the mortgaged premisea ahall be sold subjeci to L6e oontinuing lien of this mortgage ~ for the amount of the debt not then due and unpaid. In such csee the pmvisions of thia paragraph may again be : ~ svailed of t6ereafter from time to time by the Mortgagee. ; z 1 l. No waiver of any covenant herein or of the obligation ae~ured hereby ahall st aay time thereafter be held - 4 ~ to ba s vvaiver of the terms hereof or of t6e note eecured hereby. - ~ 12. The lien of thie inbtrument ahall remain in full force and eHect during any postponement or extension of x the time of psyment of the indebtedneee or any part thereof eecured 6ereby. ^ 13. If the Mortg,ngor default in any of the covenanta or agreemente contained herein~ or in eaid note, then the ' Mortgagee may perform the same, and all.expenditures (inciuding reasonsble attorney's fees) made by the MortgaRee z in eo doing shall drav? interest st the rate provided tor in the principal indebtedness, and shall be repay able ~ thirty (30) dsys after demand, and, toget6er with interest and costs accrued thereon, shall be secured by ~ E this mortgage. !4. Upon the request of the Mortgagee the :14ortgagor shalt eaecute and deliver s supplemental note or _ noLes for che sum or sums advancecl by the l~tortgagee for the alteration, modernization, improvement, main- ~ ~ tenance, or repair of ssid premisea, for taxes or as.aessments against the same and for any other pur~wse author- ~ ~ ized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as it the advance evidenced tbereby were included in the note first described above. Said supplemental note or notes shall bear ~ ~ interest st the rste provided for in the principal indebtedness and shall be psyable in ap pro!cimately equsl ~ monthly psyments for such period as may be agreed upon by the creditor and debtor. Failing to agree on the i ~ maturity, the whole of the sum or sums so advanced shall be due and ps~able thirty (30) days after demand , by t6e creditor. In no event shall t6e msturity extend beyond the ultimat,e r~atwity of the AA1.C flI'Sf, ~ described sbove. ~ ~ ~ nn I : • ~Cv~X~ ~ ~ . € ~ . ~ 3 ~ c ~ ~ , - - - i , ~ ~ ~`~<~~".k"a,:'~,~ ~ - ~