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Home My WebLink About0939 /WD Me soid MortQopor h~~eby covenanls ond oqre~i with th~ iaid Mc?tQoqee os foitows: FIRST: Thot th~ Mo~tqo9or is lowfully seiz~d of the obov~ dexribed premises in fee simpl~ ond hos pood riQht to sell o~d conv~y Me some to th~ MohpaQe~; that th~ :aid premis~s ar~ fr~~ and disd+oryed of and from all taxes, tox titl~s o? c~hificotes, judqments, mechank's liens and ~ncumbro~?c~s of a~y notur~ w kind wAotsoavt~ and Mot th~ MortQoyor will fully worronf and defer~d 1h~ some to the Mor~po~e~, apoirot M~ lawfvl cloin?s ond dsmands of oll p~rsoru whomso~ver, ond will mak~ wch fv~ther ouuronces to pe~fed fee simple title to said land, ie the Monpapee, os moy reosoncbls b• r~quir~d, ond will poy N+s several sums of money o~reed in the said not~ to be poid and oll i~atallments of principcl ond interest thereon promptlr when d~e, and ouo~dinp to th~ trve teno? ond ~}~ect of M~ ioid note. SECON~: That the Mo?tyopo? wil) por all ond sin9vlo~ Me taxes, asiessments, levies, and encumbrances of every nature . on the abave described property, ond upon H+is mort9a~e and note, or Me moner secured M?ereby, before delinquency thereof and ~eceipts eviderxin9 poyment of said toxes, assessments, levies ond encumbronces sholl be deposi~ed with the Mort~nqee on or before Morch lst of each succeedin9 year duriny the term of this monyaQe; ond if same be not pranptly paid whe~ due, the Mo~t~apee may (without obli~atwn to do so) poy the same, or bacane purchase~ of ony lowful evidence thereof, or certificote therefo?, without waivin~ o? olFettin~ any riyht he~eunder ond in this mortqo~e, or the said note which this mortpoge secu~es; ond such payments o? expe~ditures so made shall bear interest from fhe dote thereof at the rate of eight per centum (8~) }e~ annum. THIRQ: Thaf the Mortpo~or will keep all ~eol ond.persona) propert~? now or Aereafter e~cumbered by the lien of this rtwrtqaye inwred as mar be ~equired from time to time by fhe MortpoQee a~ainst loss by flre, windstorm ond other hazards, cawolties and contin~encies fo? wch periods and for not less than such amovnts as may be requi~ed by the Mo~tyapee and to pay prompNy when due all premiums for such insuronce. The amounts of such insurance required by the Mo~tgagee are expressive of only the mi~imwn omounh for whith said i~urance shall be written a~d it sholl be incumbent upon the Mortgo~or to maintoin such odditionol insuronce os may be neceuory to meet and comply fullr with all co-insuronce requirement: contoined in said policies to ths end that soid Mo?t~opor ii not a to-insuro~ therevnder. Insuronce sholl be wriHen by o company or componies approved br the ~ Mo~tyayee ond all policies and renewals thereof shall be held by 1he Mort9a9ee• All detailed desiynations by the MoA~ayor which are aaepted by the Mortyaqee and alf aq~eements between Mo?tyaQor and MortQapee relating to insu~oece, oow existiny or hereafter mode, shall be in writin9 and shall be a pan of fhis mort9aye o9~eement os fullr os Mwugh set forth verbatim herein ond shall qovem both paNies hereto and thei~ successon a~d assiyns. No lien upon any of said policies of i~nurence or upon any refvod or retum premium which may be payoble on the cancellotion or terminotiw~ thereof, sball be given to other than the Mort- gopee, except by proper endonement afFixed to wch policy and approved by Mo?t9aqee. Each poliq of insuronce sholl have. affixed thereto o Stendard Mort9a9ee Clause oaeptable to the Mortpo~ee, makiny all loss or bsses under such polity poyable te the MortQagee as ih interest may appear. In the event any wm or sums of rtaney become payoble therevnder the Mortyoyee shall have the option to receive and applr the same on oocount of the indebtedness hereby secured, or to permit the Mortpapor to receive and uss it, or any port thereof, wiN~out Merebr woivin9 or impairin9 any equity, lien or ri~ht under ond by virfue of this mortyaps. In event of lou or physical damaQe to the mort~o9ed property the Mortya9or sholl pive immediote notice Me~eof br mail to the Morigo~ee and the Mortgapee may make proof of bss if the same is not made promptly by the Mort~oQor. In event of foreclosure of this mortya~e o~ other transfer of title to the mort~aQed property in exti~9uishment of the indebtedness setured hereby, all riqht, title ond interest of the lNortyoqor in and ro any inwronce policies then in force shall pa:s to the purthaser or grantee. Upon any defoult thereof, the Mort9o~et may (but without obliqation on its part so to do) place insuronte on such buildin9s end pay the premium and chor9e such sums so paid to the Mort~a~or ond such sums of money so poid shall bear interest from the date of payment at the rote of eiQht per centum (8~) per anrwm. FOURTH: Thot ell sums of mo~ey paid or caused to be poid by the Mortyagee under the terms of this mo~tqa9e and herein specifically provided for, and irxludin~ ooy expenses incurred by the Mortya9ee in collection of the sum secu~ed by lhis mortpaqe, shall be covered by the lien of this rnortpaye, the same as the sums of money represented by the rate w1iKh this mortQape secures. i ~ HFTH: To permit, commit or wfFer no woste, impairment or deteriorotion of soid property, or anr part thereof, and upon ~ the foiiure of the Mort9aqor to keep the buildinqs on said propertp in ~ood condition of repair, the Mortyaqee moy demand the immediote repair of said buildin~s, or an increose in the amount of securitp, w fhe immediote repoyment of the debt hereby E secured, and the foilure of the Mort9a9or to tomply with said demand of the Mort~aqee for a period ot Afteen (1S) days sholl ~ constitute a breath of this moAgoge, and, at the option of the Mortgagee, immediately mature the entire unpaid principol aed ~ interest hereb secured ond the Mort a ee ma witlwut notice, institute roceedin s to foreclose this mort a e und a I for Y . 99 Y. P 9 99, PPY ~ the appointment of a receiver, as hereinofter provided. ~ s ~ SIXTH: ThoT the Mortgagor hereby promises, tovenants ond agrees to pay the sums of money and interest as mentioned " in said promissory nofe, together with any ond all other sums jusNr due and owing fhe Morfgagee by the terms therein, ar?d secvred ~ to be paid as stated fherein promptly when due. If defoult shal: be mode in the poyment of the said sums of moner or any part ~ thereoF os provided in the said .note or this mortgage,-or if the interest that may become dve thereon or anr part thereof sholl be in defavlt and unpaid for a space of fifteen (15) dars, or should the Mortgagor breach or fail to «+mplr with any other covenont ~ or ag~eement on the part of the Mortgagor to be complied with (in Mwse cases in whid~ the optwn of the Mortgagee of occelero- ~ tion is not otherwise expressly provided herein) and such breath or nw~-compliance continue in existence for a space of fiReen (15) dors, then and from thenceforth, ot the optiw~ of the Mortgagee and without notice ro the Mortgagor, tl~e whole of soid principal a; ~ swn expressed in seid nofe, fogether with oll other sums therein os well as herein provided for, shall betome immediately due und k ~ payable, withovt notice to the said Mortgagor. ~ ~ = SEVENTH: That in cose it should become necessary to ploce this mortgage and the r?ofe secured herebr or either of them, - in the hands of an ottorner for tolletfan, the said Mortgcgor tovenants and agrees with the Mortgogee fo pay oll costs, chorges and expernes of sucfi colledion, including reasonoble aHorney's fees whether collected by foreclosure or otherwise. ~ EIGHTH: That, in the event any suit is brought vpon this mortgoge, whether to (oreclose it, fo reform it, or otherwise, and/or to enforte paymenf of onr daim hereunder, the Mortgagee may apply to ony court having jorisdiction ~hereof for the ~ oppointment of a receirer of soid moAqaged properfy, as wel) as the intome, profits, iss~es ond revenues thereof, and the said sw ~ - ~ R ?Ar,E 6~ ~ _ z _ ~oc~ Y~ BUi~!( F,.rF ~ ° P 3U1 939 ~ ~ - _ . _ _ ~ ~ .,~.-:r ~ _ - s~ - ~ _ . - ; _ _ , ~ , . ~ ~ _ : ~ ...,w ~