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Home My WebLink About0635 AND tM said Mo~tyopor h~rebr tovenonf~ ond oqrees with M~ soid Mor~poqee as foltows: FIRST: Thof M~ Mort~apoi is lowfully seized of M~ abov~ dex~~bed prsm~ses in fee s~mple and hos yood right to sell ond convey th~ some to the Mort9a~ee; thot the said premises ore free ond distho~yed of ond from cll toxes, toa titles or cerfificotes, jvd9ments, mechanit's liens ond entumbronces of ony ~oture o~ kind whotsoever and thot th~ Mo~~ycpor will fully worronl and ! d~fend Me some Io the Mortyaqee, ogoinst fhe lowlul tla~ms and demcnds of oii penons wnomsoever, on~i .+iii f11t7RQ 1Vt~i ~yi i~~at ; assurontes to pe~fett fee simple fifle to soid land, in the Mort9cyee, oi moy reosonuble be req~i?ed, and will poy the severol ~ ~ iums of moner a~reed in 1he ~aid nole to be paid a~d olt installmenls of principot ond iMe~est thereon promptly when due, and occo~d~n9 ro the ~?~e tenor ond elfed of fhe soid note. SECOND: That the Mortga9or will poy oll ond s~ngulor the toxes, assessme~ts, lev~es, and en.cumbrances of eve~y not~re on the above deuribed propertr, ond upon this +nortyQye and note, or the money secu?ed thereby, before delinquency thereof and rece~pts evideacing poymeet of said to~es, os~e~sments, levies and e+xumbronces shall be deposited with the Mortgogee or+ or . befoie MarcA lst of eoth sucteeding rear during Me term of Mis nwrtyoge; o~d if some be not promplly paid when due, the ~ Mortgogee moy Iwithout obligotion to do so) poy the same, or become purchoser oi any lawf~l evidence Ihereof, or certificate there~or, without woiving or aiFecting any right hereunder ond in this nw~tgoge, or the said note wh~ch this mortgage secvres; ond suth payments or expenditures w mode shall beor interest from Me dafe thereof af the rote of nine and one-half (9 ~'/o~ per amum. THIRD: Thot Me Mortgogo~ will keep all reol ond persa+al property now or hereofter encumbered by the lien of this mortgoge insured os moy be required from time fo time by the Mortgayee ogoinst loss by fire, windstorm and olher hoza~ds, casuallies and tontingencies for such pe~iods ond for not less than suth amounts us moy be required by the Mortgagee ond to poy promptly when due all premiums for such insuroncr. The amouots of such insurance required by the Mortgogee ore expressive of o??ly fhe minimum omounts for wFiith soid insuronce shall be written and if sholl be intumbenf upon the Mortgagor to maintain such odditional irovroncc os may be necessary to meet and comply ful~y with all co•insurance requirements contained in said policies to the end thot soid Mortgagor is not a co-insuror thereu~der. Insurance shall be written by o company or componies approved by ihe Mortgagee ond all policies ond renewals thereof shall be held by the Mo?tgagee. All detailed designotio~s by the Mortgagor which ore accepted by Me Mo~tgagee and all agreements between Mortgagor and Mortgogee relating lo insuronce, now existing or hereofter mode, shall be in writing ond shall be o part ot this mortgage agrecment a: fvlly as though set forth verbotim herein ond shall govern bofh porties hereto and their succe:sors and ossigns. No lien upon ony of said policies of insuronce or upon anr refund or refurn premium whith moy be, poyable on the cantellotion or termination thereof, shatl be given to other than the Mort- gagee, except by proper endorsemenf ofFixcd to such policy ond approved by Morfgagee. Each polity of insurance shall have aRixed thereto a Standard Mo~tgogee Clause occeptobte fo the MoAgagee, making all bss or losses u~der such policy poyable so fhe Mongagee os its interest may appear. In fhe event ony sum or wms of money become poyable thereunder the Mortgagee shall have the option to receive and opply the same on aaount of the indebtedness hereby secured, or to permit the Morlgagor to receive and use it, or ony po?f the~eof, without thereby waiviny or impairing ony equitp, lien or right under ond by virfue of this mortgoge. In event of loss or physical damoge fo fhe mortgaged property the Mortgagor shall give ~mmediate notice thereof by. mail to the MoN~agee and the Mortgogee moy make proof of bss if the some is rwt mode promptly by the Morfgagor. In evenf of forecbsure of this morfgage or other t~ansfer of title to the mortgaged property in extinguishment of the indeb~edness secured hereby, all right, title ond interest of the Mortgogor in and to any i~surarxe policies then in force sholl pass to the purchaser or granter. Upon any defoult thereof, the MoAgagee mor (but without obligotion on its part so to do) place insurance on such buildings and pay the premium ond tharge suth wms so poid to the Morfga or and svch sums of money so paid shall bear interest from the dote of paymenf af the rate of ~ne ~and one-half (9.5~~p~r annum. FOURTH: Thaf oll sums of money paid or toused to be poid by the Mortgagee under the terms of this mortgoge ond herein j specificolly provided for, and intluding ony expenses incurred by the Mortgagee in collectio~ of the sum setvred by this mortgage, ~ shall be covered by the lien of this mortgage, the same as fhe sums of rtwney represented by the note which this mo?tgage setures. E i ~ FIFiH: To permit, commit or sufFer no waste, impairment or deterioration of said property, or any port thereof, ond upon the foilure of the Mortgagor to keep fhe buildings on said property in good condifion of repair, the Mortgogee moy demand the ~ immediote repair of said buildings, or an inc?eose in the omount of security, or the immediate repoyment of the debt hereby secured, and the failure of the Mortgogor to complY with said demand of the Mongagee for o period of fifteen (15) dars shall constitufe a breoth of fhis mortgage, ond, ot fhe option of the Mortgogee, immediately mofure the entire unpaid prirxipnl and interesf hereby secured, and the Mo?tgogee moy, withouf nofice, institute proceedings to foreclose this mortgage, ond apply for the appointmcnt of a receiver, os hereinafter provided. 5lXTH: That the Mortgagor hereby promises, covenants ond ogrees to poy the s~ms of money and interes~ as mentioned ~n said promissory note, together with any ond all other s~ms justly due ond owinJ the Mo~fgagee by the ferms therein, and secured to be paid os stoted therein promptlr when due. If default shal: be made in tht payment of the said sums of money or ony part ~ thereof os provided in the said note or Mis mo?tgoge, or if the interest that moy become due thereon or ony part thereof shall be ~ ~n default and unpoid for a spoce of fifteen (15) doys, o~ slwvld the Mortgagor breach or foil to comply with any other covenant or agreemenf on the part of the Mortgogor to be complied wifh (in lhose toses in which the option of the Mortgogee of atcelera- ~ tion is not otherwise expressly provided herei~) and suth breach or non•compliance tontinue in existente for a space of fiftee~ (1 S) ~ doys, then and from thenceforth, at the option of the Mortgogee ond without notice to the Mortgagor, the whole of said prir,cipal ~ sum expresud in said note, togethe?.wifh all othe~ sums fhetein as well as herein provided ior, shall become immediotely due and ~ poyoble, without no?ice to the said Mortgagor. ~ SEVENTH: Thot in tose it should become necessarr to place this mortgage and the note secured hereby or either of them, ~ in the honds of on attorney for tollection, the said Mortgogor tovenants and agrees with the Mortgagee to pay ofl costs, charges ~ ond expenses of s~+ch collection, irxludin9 reosonable ottor~er's fees whether collected by foredowre or otherw~se. ~ ~ EIGHTH: That, in the event ony suit is brought upon this mortgage, whether to foreclose ~t, ?o refo~m ;t, or otherwise, ~ ~ and or fo enforce poyment of ony claim hereunder, the Mortgagee may applr to any court having j~risdiction the~eof for the ~ appointment of o receiver of said mortgaged property, os wetl as fhe income, profits, iss~es and revenues thereof, and the said ~ ~ U~ ~ BL':~K ~ f~ 'l~hC ~ - 2 - j~hJ ~ _ - - - - - ~ , ~ m~.~ ° : • j t - , „ ~ ws z_r-~ 3 . 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