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Home My WebLink About0002 ti' , ~1 e ii `i i ~ ~ principal wm and acc~ued int~?~st shall D~ca~» dw and paYabf~ w+thout notiu at 1M optio~ ol tM hoWK tMrQOf. Md shaU ! duhl. P~~?P~b~ snd tully ptrform. discha?g~. execut~. Nfect. complel~. and compy with aod aDid~ bY ~ach snd ~wry the stipu• ~ lations. s~~s~ments, conditions, snd cownants of ssid promhsory ~ote and this mort~~. thM this mortga~ snd tM cstat~ M~~bfr cnat~d shsll c~as~ and b~ eull snd void. . Md tM Mat~aQws turtMr cownant as fo{lows: • l. That tMy will pay tM ind~bt~dn~ss, as h~n+nMton ptovW~d. ~ 2. That. fe oN~~ mon fuly to prot~ct tM security o/ thb mortSa~. th~ Mongsgo~s. togethK with aod in addition to. ths mo~thy paymenb undar tM t~mn ol a~y ~wta securad hereby, on the Tirst dsy of each month until ssid ~ot~ is fully paid, will Par to th~ Mo~ tM fotlowi~ wms: (~ll4qiAfxlfQlNXltl(~~X~1~ tONDl1!l~f11t11DHUUUUq~0~11~~1K1I0(M011GMIliJO~NIW11011)OMIII( JOOIi1Kdk11 I~ION~IVl~~f11~~~f111~IQ1Utl~lNtl~Al1~01!(l0~ptklOrl)O~IXlNUt10~fY1H0111~I0p~1~~(I~q~ll~Utlt1! l00l~Iq~~OKi01llMdtt~~w~ (b) All ps~rmeMs mentlo~ad in tM P~i~ wbsectbn of this psragnph aod all paymenb to b~ rt~sde unde~ anY not~ securad hereby shsll b~ added togather ~nd the aggre~ate amouM thenof shall be psid by the Mo~aQon each mon!h in a single payment to bs applied by tM Mortgsga~ to ths folbwing Rsms io the ordor set forth: rX ~X ~ 11. Ir~tersst on ths note secu?ed hereby: and - 111, AmoRizatbn oi the prinNpsl oi saW note. _ My deikkocy in the amouM oi such sgg~egat~ mo~thy psyment shsll. unbss made good by the Mortgagois prior to the due date oi the next such psyment. co~stitute an eve~t ot default unde~ this rrwrtga8e. The MortgaBee may collsct s"Iate charge" not to exceed two cents (2~) tor each dollar of each paymeM n'wm thsn fiitaen (15) days in anan to cover the extra ex- _ pense I~voh~ed in handting deli~quent payments. , . 3. Tbat if the tatal of, tha payments made b1l ~e M~HaB~ under (a) of MhHnPh 2 O~eceding shall exceed the amount M psyments actualyr msde by the MoR~sg~, for taxes and sssessments and~inwranoe pnmiums. ss tlw case maY be. wch ex~ess shsll be credited by the Mo~tgagae on subsequent parmeets to be made by the Mo~tgsgon. If. howave~. the monthly psy ments made Dy the Mortgagon under (s) of paragraph 2 procedinH shs~~ not b~ suHicient to pay tsxes and assessments arM in- wrance premiums, as the case may be. when the same shall betome due and payaDle. then the Mortgagors shsll psj? to the Mort- gagee any amouM o~cessary to make up the deficiency. o~ or betoro the date when psymeM of such taxes. assessments. or insur• ance premiums shsll be due. If st any time the MoRgagas shsll teoder to the Mortgsgee in aocor~anoe with the provislons of the note securod heroby. full payme~t gf the entire indebtedness represeoted thereby. the Ma~tgsgee shall, pay to the Mo~tgagors all amounts 3hen remai~ing in the tax and insurance sscrow accouM held in connection with this loan. If thero shall be a default under amr of the provisions of this mortgage rasuRing in a public sste of the premises coverod herebY. or Nthe MoRgages soquires the property othen+vise aiter defauR, the Mortgagee shatt appy. at the time of the commencement of wch procaedings or at the time the property is otherwise acquired. t1~e balance then remaining in the fu~ds accumulatsd under (a) of parognph 2 precedin8 as a credit against the amouM of principat then remaining unpaid under said note. 4. That thay will pay all taxas. assessments. water rates. and other go~eemmentsl ot muniNpal cha?ges. ~ines. or imposl- ~ tions, tor whkh provision hss not been msde hereinbe(oro, and in detault thereof. the Mortgagea may Psy the same snd be % secured by the lien of the mortgag~ and that they will prompUy deliver the official receipts therefwe to the Mortgagee. 5. That they will pe?mit, commit. or suHe~ ra waste. impairment. or deterioration ot said property or arry part thereof: and _ in the event oi th~e failure of the Mortgago?s to keep the buildin8s or said premises and those to be erected on said premises. or improvements thereon. in good repair, the Mortgagee may make such repairs as in its distrotion it may deem necessarl/ for the proper prese~vation therooi, and the full amount of each and every such payment shall be irRmediatey due and payabk. and sha11 be secured by the lien of this mortgage. ~ ' 6. That they will pay aIl and singula~ the costs, charges. snd expenses. i~luding reasowaW~ lawyer's tees, and costs of abstracts of title, incurred or paid at any time by the Mongagee bec~ause of the hiture on the pert ot the Moirtgagors promptly and fuly to perform ths agreemeMs and covenants of said promissory note and M~ mortgage, and said costs. ehaBas and ex- penses shall be immediately due snd payable and sl~all be sacu~d by the fieo of this mo~t$sQe. 7. That they will ksep the improvements rww existing or hereafter erected on the mortgsged property insured as may be required irom time to time by the Mortgagee against. loss by fire or other hazards, casualties. and contingencies in such smounts i and tor such periods as may be requircd by Mortgagee. and will psy prompth?. when due, sny prcmiums on wch insurance tor pay ~ ~ ment of which provision has ~ot beeo made hereinbetoro. All insurance shsll be canied in companies spPro~?ed bf? Mortgagee ~ ' and the policies a~d renewals thereoi shall be held by Mortgagae and have attached thereto loss payabte clauses in favor oi and ; in form acceptable to the Mortgagee. Renerral policies shall be delivered to Mo?tgagee at least 10 days prior to expiration of exist- + E ing policy. In eveM of loss. they wilt give immediatNy notice by mail to Mortg~ee. and Mortgagee may make Proof of loss if not ~ ; made p~ompty by Mortgagors, and esch i~uranoe compam? concer~ad is hereb~r authorized snd directed to make payment for ' ~ such loss direttly to Mortgagee instead of to Mortgagors and Mortgsgee jointly. and the insunnce proteeds. or any part thereof. ~ ~ may be applied by Mortgagee at its option either to the roduction of the indebtednass hereby secured or to the restoration or re- ~ pairs of the property damaged. In eveM of toreclowre of thk mo~tBage or other transfer of title to the mprtgaged property in ex- ~ tinguishment of the indebtedness secured hereby. all right, title and interest of the Mortgagors in and to airy insurante poticies ~ then in force shall pass to the purchaser or grantee. ~ 8. That the Mortgagee may. at any time pending s suit upon this nwrtg~e. a~r to tne oourt na~ine 1u~satct~on tner~of for the appoiMment of a receiver. and such couR shall to~thwith appoi~ s receiver of the premises covered herebj? all arM singu- lar, inctuding all and singular the inoort~e, profits. issues, and raveoues from whatever source derived. wch and every of which, it being expressly undetstood, is hereby mortgaged ss if specificaly set forth and describad in the granting aad-habendum clauses hereof, and such receiver shall have sll the Mwd and effettivs functions and powers in snywise sMnnted by a court to a receiw~r. and~such appointment shall be made by such court as an sdmitted equity and a matter of absolute rigM to said Mortgagee. and ~ without reference to the adequacy or inadequscy of the value of the propetty mort8a8ed or to the solvencY or insoNency of said Mortgagors or the defendants, and that such rents, profits, income, issues and revenues shatl be applied by such rcceiver acoord- ~ ing to the lien of this mortgage a~ practke W such court. ~ • ~ 9. That (a) In the everrt of sny brosd~ of this mortgage or defauR on tt~e part oi the Mortgagors, or (b) in the eveM that any ~ s of said sums of money herein mierred tu be not PromPtb s~ fully paid without demand or notice. or (c) in the evern that pach ~ ~ and every the stipulations, agreements, conditions and covenarrts of said note and this mo~tgage. sre not duly. promptly snd fully periormed; then in either or arry such event, the said aggregate wm mentioned in said note then rcmaining unpaid, with iMerest i ; accrued to that time, and all moneys secured hereby, shsll beoome due snd paysble forthwith, o~ thereafter, at the option of said t t £ Mortgagee, as fully and completely ss if all of the said sums of mo~ry were originaly stieulsted to be paid on such day, arry- • thing in said note or in this mortgage to the contrary notwithstaoding; and thereupon or theresfter, at tbe optbn of.said Mort- ~ ~ gagee, without notice or demand, suit at taw or in equity, may be prosecuted as if all moneys secured Nereby had matured prior ~ £ to its institution. The Mortgagee may toreclose.thls mo?tgage. as to the amount so declared due and payaWe. and the aaid ~ premises shall be sold to satisfy and psy the same together with,costs, expenses, snd atlowances. In cases of partial toreclosure ~ ~ of tbis mortgage, the mortgaged premises shall be sold subject to the continuing lien of this moKgage for the amount of the debt not then due and unpaid. In such case the provisions of this paragraph may agai~ be availed of thereafter from time to time by ~ the Mortgagee. g gooK ~Qz eacE ~ ~ k • ~ ~ ~ 1 ~ ~ • ~ -.Y» , } : ~ . ~ ~ ~ - ~~~-Y ;t F. ~ ~ , ~ - .,r~.~: =