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Home My WebLink About0338 . ; t . _ i teades to the Mongegee in accordance with the pro~i~ions of t!?e aote secured I~errb~, tull puymenl, o~ the ` entin indebtedness represented therebv~ the Monga~ee~ as trustee, ah~ll~ in computing the ainount of such h indebtalness, credit to the ~?ccount of t~~e MortgsRor any credit balance reinaining under the proviaiona of (a) of said ~ph 2. 1~ there e}~ill be a detault under any ot thF ptovisioru o! this u~ort{~a~e resulting in a t public sale o the premisea covered hereby, or if the Morlgagre acquires the property otherw~ae after del~ult, ~ the Mortgagee~ as truatee. ahall apply~ at the time ot tha canmencement ot such proceedings or at ti?e t~ime ~ the property m otherwise acquired~ the amount then reu~aining io credit ot Mortgsgor under (a) of paragrRpli 2 , precxdiag ae s credit on the interest accrued snd unpaid and tlie balance to tha principal ~l?en rr.maining unpsid ' on said notc. _ ~ 4. He will p~y all tases. a~ent~, wr?ter nta. and ot6se ~overnmeatal ai municiP~l eha*`es, Sae~. oe ; ianpoeition~. !or whie6 provision haa no~ been made hereiab~ors, ~ad ia default thee~eot tbs Ddort~'es m~Y P~ ~ ; Mtne; ~nd tha~ he wiU promptly delivee tbe o~cial reoapts tbereior to tbe Mort~ee. ~ a. He will permit~ oommit, or eu8er no waaLe, imp~rn~ent~ or deteriontion ot said Pt'oP~Y ~~x P~ t~~ ~ e:apt reaacnabk Mear aad t~ear• und ia tbe event of t6e iailure ot Lhe Mort~or to keep tbe bu~tdingA on ai~ k pc~nises and thoee to be erecte~ on eaid premiaee. ot Improvemeab thereon, in ~ood npair the Martgagee maY make such npaiis ~a in ib dieeret~on it may deem neceesary for t6e proper pres~rvatton thereof. and tbe full amouat ~ at e~ch aad every such p~yment shall be dne and p~y~b{s ~6it~y (30) day~ aft~er demand~ aad ahall be ~ecured by the lka of this mort~e. . - . ! 8. 8e will psy att and singulas t~ oosta, cbarges, ~ad espeosea includin6 reasonable lawyer's Eeer, and oo~a ~ of sbat,ract~s o~ tiUe~ incurred or paid sf~ soy time by the Most;agee beesuee ~ tbe tsilure oa the patt ot tLe Mor~g,s~o~ promptly snd fully to pedorm the agreements and oovenante of said pro~miasory note and t~6ia mort~e ~ sad aaid j ~8~, ~ad expenses shaU be immediately due and p~yab3e and s6a11 be secured by the lien ot t~is anortgpge. ~ 7. He will oonlinuous~j maintsin hssard insuranoe, oi such type or t~pes and amounts ss Mortgag~ee ma ~ us irom time to time require~ on the ipnpmvements now or hereatter on said pnmises and e~coept wLen psymen6 - tor all such premiums baa theretofon bean made under (s) of psragra~6 2 hereof ~e will pay prompWy when due any premiums therefor. All insursnce ahall be carried ia oompsnies sppmve~ by 1liortgagee and the poli- cies and renewals thereoi shall be held by Mortgagee and have attached thereto loss paysble crsusee ia favor of ~ and in form acceptable to the Mort~a~ee. In event oi losa he rvill give immediat~e notioe by mail to Mortgagee, and ~Iortgagee may make proof o~ To~s it not made promptly by Morigagc?r, and each insursnoe oompany ~ ooncerned is hereby_ authorized and directed to mske payment for such loes directly to Mortqaqe~ inst~esd of - to Mortgagor and Mortgsgee )ointly ~ and the insw~anca prooeeds, or sny part thereof msy be sppled by Mort. ~ gagee a6 ita option either to the reduction ~i the indebtednees hereby secured or to t~e restoratton or rep ' of ~ the property dama~ed. In event of forecloaure of this mortgage or other transfer oi title to the morig~aged ` property m eutingwshment o! t6e indebtedne~a secured hereby; s~l right, ~ti~le. snd intereat oi the Mortgagor = ~n and to any inaurance policies then in foroe shall pnss to the purchaser or grwtee. ' R. If the preiuis~~s,.or nn~• part Uien~f, be conilemnPd under the power of eminent clon?am. ur acquired tor ~ a public use, tl?e clnma~es awarcted, tlu~ Pro~•e~cls foc tl~e tuking ot, or thr ~onsiel~ration for surl~ acquisition, to - ~ tlie cxtent of tLe full amount of tLe renisining unpaid indebt~rlnc~ss sec•urcd i?~• this mortgaKe, ar~ hercb~• assiKned to the \4ongager, and 1?is hcirs or aasikns, un~l shall be puid forthwith to sai~l ~'Iortga~ee or I~is - ~ assignce to be applied on ac~•ount of th~ last ~nuturiiiK installnients ot su~•1~ ind~btedncss; pro~•i~ied, IioNC~er, i the ~iortKa~e~ or liis t~s.SiKnee, ~uu~• at )iis discr~~tion pa~- dirnrt to tl~e Mortgugor, l~is l~eirs or nssigns an~ part ~ or ull of surh aw•ard; pro~ided. tl~nt if the loau i.~ Kuarunte~d or insured, the consent of tLe gunrantor or insurer ~ is obtained in ad~ ance of said pn~•ment. ' . 9. The Mortgagee may~ at any time pending. a auit upon this mortgage~ apply to the o~urt having juriadiction tbereof for the appoiatment of a n~oeiver, and such court ahaU forth~vit6 appoint s receiver of the premisee oovered hereby aU arid singular~ including all and singulsr the inoome, pcofita, iasuee, and revenuee from whatever Bource derived, each and every of which, it being expressly understood~ ia hereby mortgaged ae if apeci6cally eet forth and deecribed in the graating and habendum clauaea hereof: Such sppointment ahall be msde by auch oourt ss an admitted equity and s matter of absolute right to ssid Mortgagee, and ~vithout reference to the adequacy or inadequacy of ! the value of the pmperty mortgaged or to the eolrency or insolvency of said Mortgagor or the defendanta. Such ~ tents~ pmfits, income, isaues, and revenuee ~shall be applied by suc}i receiver acoording to the lien of this mortgsge ~ i and the practice of such court. In the event of any detault on the part of the Mortgagor hereunder, the Mortgagor 3 ! agrees to pay to the Mortgagee on demand aa a reasonable monthly reatal for the premiaes an amount st least ~ i equivalent to on~twel(th of the aggregate of the twelve monthly inatallmente payable in the then cutrent ' ; year Plus the actusl amoun~ of the annual tsaes, sseessments, water iates~ a~ insuranoe premiums for euch year _ 5 ~ not covered by t6e a[oresnid monthly psymenta. ; ; ~ 10. In the event of any b_~each of thia mortgage or defaalt atr the psrt of the Mortgagor, or in the evtnt thst ~ ~ any of asid s~une of money herein referred to be not promptly and fully paid accordiag to the tenor hereof~ or in the € even6 thst each and every the atipulations~ agreementa~ conditions, and covenanta of aaid note and this mortgage, ~ ~ sre not duly, proinptly~ and fully performed; then in.either or any such event, tbe eaid aggregate aum mentioned in eaid note then remainina unpaid, writh interest accrued to that time, and all moneya eecur~d hereby, ehall become f due and psyabk forthwit6~ or thereafter~ at the option of said Mort~agee~ sa fully and completely se if all of the ~ ~ said suma of money were originally stipulated to be paid on auch day~ anyLhing in said note or in this mortgage to # t6e oontrsry notwithstanding; aad thereupon or thereafter, at the optioa of said Mortg,agee~ without notioe_or ~ ~ demand~ suit at Iaw or in equit~, msy be prosecuted as if all moneya eecured 6ereby had matured prior to its inatitu- ? ~ tion. The Mortgagee may foncloee this mortqage, as to the amount eo declared due and payable, and the ssid premiaes ahall be sold to satisfy and pay the same tc~ether with ooete, e~cpenses, and aUo~vancea. In case of pertial ~ ~ toreclosure of thia mortgage, the mortgaged premises shaU be sold subject to the continuing lien of this mortgage ~ for the amount of the debt not then due and unpaid. ~In such case the pmvisiona of this paragraph msy again be ~ ~ svailed of thereafter from time to time by the Mortgagee. • ~ ~ 11. No ~vaivet of any oovenant herein or oi the obligation secured hereby ahall st any time thereafter be held . to be s waiver of the terms hereof or of the note aecured hereby. ~ ~ 12. The lien of thia inattument shall remain in full force and effect duriag any poetponement or extension of i : the time of payment of the indebtedneas or any part tbereof eecured hereby. ~ ~ 13. If the Mortgagor defsult in any of the oovenanta or agreemente contsined herein, or in aeid note, then the < ~ Mortgagee msy perform the aame~ and aU expenditurea (including resaonable attorney's feea) mnde by the MortgaAee ` in ao do~ng shall draw interest at the rate provided for in the principai indebtedness, and shall be repayable ~ x Lhirty (30) days after demaad, and, together with interest snd costs sccrued thereon, shatl be secured by s thia mortgage. ~ = 14. Upon the request of the Mort.~agee the ~iortgagor shal) e~cecute and deliver s supplemental note or ` ~ notes for the sum or sums advanced Dy the ~tortga~;ee for the alteration, modernization, improvement, main- ~ ~ tenance~ or repai~ of said premises, for taxes or a~essments against the same and for any other purpose author- ; ized hereunder. Ssid note or notes shall be secured hereby on a psrity with and ss fully as it the advance ~ ~ evidenced thereby were included in the note firat described above. Said s~~pplemental note or notes shall bear ~ interest st the rate pmvided tor in the principal indebtedness and shall be payable in sp proximately equal ~ monthly payments for such period as mey be agreed upon by the creditar and debtor. Failing to agree on the g maturity~ the whole o( t he sum or suma so advenced shall be due and pa~ able thir~y (30j days after demand ~ # by t6e creditor. In ao event shall the maturi~y excend beyond the ultimate c~atwity ot t6e note firat Y described ~bove. - = scpr 302 3~ ~ ~ ~ ~ ~ - - _ . ---T . . . . . ; .r.~~_:~' ~