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Home My WebLink About0205 . ; ~ ~ p~incipal sum and accrued i~terest shall Aecorrn due end payabN Mnthout notice e! lh~ option ol the holder the~eoi. And shsll ; duy, p?omptly. and tull~r pe?form, discharge, execute, efiect, complete, and comply with and sb~d~ by each and every the stipu• ~ ' lations. sQreements, condit~ons. and cov~nants of said promissory note and this mongag~, then this mo~tgaQe a~d th~ estate hereby created shall ctas~ and b~ nu11 and void. , And 1he Mortgs~on iuhh~~ oovenant as idbws: ' 1. That they will pay tl~e indeM~dn~ss. as hereinb~fore provided. 2. That, in ord~t mon tully to protett tM security of this mortQaQe. tM Mortga~on. tagether with and i~ additioo to. th~ _ monthy payments uoder th~ tem~s ot any ~?otes s~cur~d heteby. an ihe fint dsy of each month until saW nott is tully psid. will pay to the Mort~aQee 1M folbwinQ sums: ' i (+~1wc~~~k~c~~w~tKioD~YlcJ~c~ca~a~nalt~cxwexat~xttMa~ao~rx~aw~w~at~f~wo~taxa~aco~~t~ac~cotli+r ~ oolt~twc~tot~tY xawfM j~iH~~iidtN~l~li~i~~~t1yK I~ 1~ ~dciwti~il~11~6ie1tK~+~tl~fKtt~~ticdtf~~idc ~ee~M~fycllM~M)Y1~N~f ~~att~OtXOMtMxKr~aQoc . (b) All piymtnts m~ntioMd in tM pncedtnQ wbsectlon ot this p~rsgrsph aod ail paymenb to b~ mad~ unde~ any not~ securod hereby shall M added toQeth~r aRd the ~~regatt amou~t th~rsof shall b~ psid by tha MortgaQors ~ach month fn a ` singb payment to b~ applisd by tM Mortga~ to tM followir~ it~ms in tM oMer set forth: ~ ~XX1UIl~KII~ltKMl[1(Jt~li~l1lK ~M: il. Interest nn the note securod hereby; sod ~ 111. Amortizstloo oi the principsi of s~fd note. - Amr deficiency in tM smount ot sueh s~groaste monthy psyment shall, unless made good by the MortgaQors p~ior to tM due date oi the next such psyme~t, constitut~ sn went oi defsuR under thfs_ moRga~~. The Mo?t~agee may collect a"Iate charge" not to exceed two cents (Zt) tor esch dollu of each payment mon than fifteen (15) days in arnars to cover ths eztra ex- pense imroMad in hsndllnQ dNinquent p~ymants. 3. That ii tM total of tM psym~nts made by tM MortgaQo~s unde~ (a) of paragraph 2 preceding shall txcNd the amouM ~ of psymeots actually msde by tM MoRQa~, tor tazes and ass~ssmeots and insuronc~ premiums, as tM us~ msy be, sucF~ excess shaii be cradited by the MoR~agee on subsequent payme~b to be made b~? the Mortgsgon. N, Iwwswr. the monthiy~piy- ' ments made by the -MortgsQars under (s) of parag~aph 2 preceding shsll not be suNici6at !o pay tazes snd assessments and in- s sunnce premiums, as the cass msy De, wheo the same shall bacome due and payable, then the Mortgsgors shall pay to th~ IiAort• ~ gagee any amount necessary to make up the deticiency. on o? betoro the date when payment ot such taxes, assessme~s. or insur. ; ance premiums shsll be due. If at ~ny time the MoRgagors shsll tende? to the Mortgagee in accoMsnce with the provisions of the note secured hereby, tull psyment ot the entirc indeMcdness represented thereby, the Mortgsgee shali. pay. to the Mortgagon all smounts then remaining in tM tax snd Insunnce escrow account held in connaNion with thls iaen. If then sball be s dtisult under any oi the provisions of thk mo~tgage rosulting in a public sab of the premises coverod hereby. or it tf~~ Mort~ag~ soquiros the p~operty otherwise afte.r detauR. the Matgagee shall sppty, at the time ot the commencement ot such proceedings or at the time the property is otherwise acqui~d, the balance then nmaining in the funds sccumufated unde~ (s) ot paragnph 2 pnceding ; as s credit against the smount oi p~incipal then remaininQ unpaid under ssid nots. ; 4. That they~will pay all tazes. sssessments. wster rates, snd other govemmtMal or munkipal charges, tines, or imposi- ~ tions. for whkh provisbn hss not been msde hereinDetore, and in defauft thereoi. the Mortgagee msy pay the same and be ; secured by the lien of the na~age; and that they will promptly deliver the oNicial receipts therofore to the Mortgagee. . 5. That they will psrmit, wmmit, or suffer no waste. impsirment. or deterioation oi ssid property or sny part thereoi; and ; in the event of the failu~e ot the Mortgagors to keep the buildings or said premises and those to be erected on saW promises, or ; improvements thereon, in good repair. the MoRgagee may mske such repairs as in its discretion it may deem necessary tor the ~ proper preservation thereoi. and Me full amount ot each and every such payment shall be Immediatey due and payaWe, snd shall be secured by the lien oi this mortgage. ~ 6. That they will pay all snd singular the costs, charges. and expenses, including reasonable lawyars fees, and costs of abstracts of title. incurred or paid at any time by the Mortgagee because ot~the failure on the paR of the Mortgagon promptly _ - F ~ and fuly to perform the agroements snd covenan~s of~ i ~ ~,~Pte and this mortgage, and. said costs, charges and ex- penses shafl be immediately due`and psysble~and `sffsll ~ the lien of this mortgage. 7. Thst they will keep the improvements now lxisfiA~reafter encted on the mortgaged property insured as may be j ; requiretf irom time to time by the.Mortgagae.against~ b~31te IN~IOY f~itd~rds, casuslties, and continQencies in wch amounts # and for sucb pereods as may be roquired by ee. .~whpn due, any premiums on such inwnnce for pay ~ M~B~ . ~fO~x ~ ment oi which provision has not been made hereinbe(g,~e._~II, sqrsnte.shall be sarried in compani~s spproved by MoRgagae i ~ and the policies and rcnewsts thereol shalt be held by Mo~~ snd hsv! attsched thereto loss psyable clauses in favor of and s in form acceptable to the MoKgagee. Renewal polfcles shall bs delivered to Mortgsgee at ksst 10 dsys prior to expiation oi exist• { ~ ing policy. In eveM ot loss, they will giw immediatey nMice by mail to Mortgagee. and Mortgagee msy mske proot of loss if not made prompty by Mortgagors, and csch insurance compa~ry.concemed is hereb~r authorizsd and directed to maka psymsnt tor _ such loss dlrectly to Mortgagee instesd oi to Mortga~ors and Mortgagee jolntly, and tM insurance proceeds. or arry part thereot. may be applied by Mortgagee st fts option either to the reduction of tt~e indebtedness hereby sacured or to the mstoration or te- ~ pairs of the property damaged. In event ot toreclowre oi this mortgaga or other tnnsfer oi title to the mprtgaged propOrty in ex- E tinguishment of the indebtedness sacured hereby. all right. titN and interest otthe Mortgagors in and to any insurance policies t. then in torce shall psss to the purchaser or grantae. ~ 8. Th~it the Mo~tgsgee may, at any time pending s suR upon this mortga~e, apply to tM court having jurisdktion thereol ~ ~ tor the appointment ot a rcc~iver; and such touR shsll forthwith appoint s receiver oi the premises covered hereby all and singu• ; lar, including all and singulsr the income, profits, issues, and rwenues irom whatevcr source derived, esch and every ot v~fiich, it ~ being expressy understood, is hereby mortgaged as it speciticaly set torth and described in the granting and habendum clauses ; hereof, a~d such receiver shall haw all tha brosd ~nd eHective functions snd powers in anywise entrusted by a coun to a raceiver. ~ ~ and such appointment shall be made by such oourt as an atlmitted equity ~nd a matter of absolute riQht to said Mortgagee, ~nd ~ without reference to the adequscy or inadequacy ot the value of the propsrt~r mortgaged or to the solvency or InsoNency of said Mortgagors or the detendants, and that such lents, profits, income, issues and revenues shsll be applied by such receiver sa:ord• ; ~ ing to tbe lien ot this mortgage anA practice of such couR. . ~ 9. Thst (a) tn the evsnt M arry breach of thfs mort~aQe or deisult.on the part of the Mortgsgon, or (b~ In the eve~t that any ~ ot said sums of money harcin referrod to be nat promptly snd futy paW without demand or notice, o~ (cj in the eveM that each . + s and every the stipulations, agreemertts, conditions sad cwenaMs oi ssid note and this mortgage, are not duly, promptly and tully , ~ pertormed; then in either or any such event, ths ssid s~regat~ wm mentioned in said note then remaining unpaid, witb iMerest accrued to that time, and sll moneys secured hereby. shall bscwns due snd payable to~thwith, or thereafter, st the optico oi said ; Mortgagee, as tulty and completNy as if all ot the said sums of mooey were originally stipulsted to bs paid on such day, any ~ thing in said note or in tbis mortgage to the coMrary notwithstanding: and thereupon or thereaiter, at the option of said MoR• ~ gagee, without notice or demand, suit at law or in equity, msy be prosetuted as it sll moneys secured hereby had matured prior ~ ' to its institution. The Mongage~ msy foreclose this mortg,age, as to the amount so declared due and payable, and the said ~ premises shall be sold to Eatisfy snd psy the ssme together with costs, ezpenses, and ellowantes. In tases of paRial tortclosure s of this mortgage, the mortgaged premises shall be sold subject to the continuing lien of this moRgsge for the amount oi the debt ~ ~ not then due and unpaid. In such case the provisions of this paragraph msy again be availed oi thereafter trom time to time by ~ ~ the Mortgagee. ~ ~ _ UD, ~ ~ • ° L ,I( "~P~ ~ ~ ~ ~ ~ ~ ~ ~ ~1 - - - - _ - ` ~ = ~`-,~;r_:=~