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Home My WebLink About0179 . + ± ( .,t . . pNncipN wm s~d accrued inte~est shall bscome dw and psyabie wilhout notice at tho option of the holder thereot. And shail dut~r. promptly. ~nd fully p~~form. discha~g~. execute. ~flect. complete. snd compiy with and sbids ~y each and every ihe stipu• ~ lations. a~rsNrnnts. conditions, snd covenaMS ot sald promissory note and this mongaQe, then this mohgage and the estate Aereby chat~d sNsll ceas~ and b~ null and void. Md the MoRgsQo?s furtM~ Coreeant ~s folbws: l. Th~t thsy will pey th~ indebt~daess, as heninbetore provided. 2. That. in o~der rtwre fuly to protect the security of this mo~tgage, the Mongsgon. together with snd in addition to. the monthy payments under the tertns of any notes securod h~reby, on the tirst day of each month until said note is tuly psid. will psy to tM Mortgagee the following sums: ~w~c~tixrc~~txac~wcw~wx+c~uc~pxorx~Kyae~tao~x~x~t~coaa~KeaQKw~co~~~R4uarnk~e~o~~livioax~f~oc~e~tltx nanoor~x~ox~c~x~owx+p~cx~ xl~cwc~oc~~cxnno~x~axoca~coctlb~exaxl~~~tR9tWx4~A~l1t~1tlt j rnaqc~tlox70xot01ROtaaein0• . ~ (b) All payments mentiooed i~ the precedi~ subsectlon ot this paraBraPh and s~~ MYmenK to be mad~ under any not! ~ secured hereby shall b! ad6ed togethe~ and the aggmgate amount the~eot shall be paid bY ths Mortgagon sach month in a single psyment to be applied by the Mortgagee to th~ idlowing items in the order set fo~th: XX XNiNl9~lNl~tNih~~111~711W(I~i07Ut~MtIK100QIX~OKId01100[~( ' II. Interost on the note sacured hemby; and ~ 111. Amortizatbn of the principal oi said note. ~ My deficie~cy in the amount of such sggregate monthy payment shall, unless made good by the Mortgagors Ptior to the due date ot the next such payment. constitute an event of detauR under this mortgsge. The Mortgagee maY collact s"late charge" } nat to exceed two cents (2!) for esch dollar oi each paymeM moro than fiitseo (15) da~rs in arrears to cover the extra ex- ~ pense imoNed in handling delinqueM psyments. 1 3. That it the total of the payments made by the Mortgagon undec (a) of psragraph 2 proceding shall excesd the amount ot payments actualy made by the Mortgagee. for taxes and assessments and insurance premiums. as tha cau may be. such excess shall be credited by tAe Mortgagee on subseque~t payments to be made by the Mortgagors. If. howeve~, the monthy pay- ments made by the Mortgagors uoder (a) of paragraph 2 preceding shall not be sufficient to pay taxes and assessments and in- ~ surance premiums. as the case may be. when the same shall become due aod payable. then the Mortgagoi`s shsll pay to the Mort- gagee any amount oecessary to make up the deficiency. on or betore the date ~vhen payment ot such taxes, assessme~ts. or insur- ~ ance premiums shall be due. lf at any time the Mortgagors shall tender fo the Mortgagee in accoMance with the provisions of the note secured hereby, tull paymeM of the enti?e indebtedness represented thercby, the Mortgagee shall, pay to the Mortgagors all amounts then remaining in the tax and insurance escrow account held in connection with this loan. If there shall be a default under any of the provisions of this mortgage resufting in a public sale of the premises coverod hercby, or if the Mortgagee aoquires the property otherwise aite~ detauk, the MoRgagee shall sppfy. at the time of the commencement of such proceedings or at the time the property is otherwise acquircd, the balance then remaining in the funds accumulated under (a~of paragraph 2 precedin8 as a credit against the amount of principal then remaining unpsid under said note. 4. That they vritl pay all taxes, assessmeots, water rates. and other govemmental or munkipal. charges. fines. or imposi- tions, for which provision hss not_ been made hereinbefore. and in default thereof, the Mortgagee may pay the sartie and be secured by the lien of tbe mortgage: and that they will prompty deliver the oHicial receipts themforo td the Mortgagee. 5. That they will ~ermi~ commit, or suffer ~o waste, impairme~t, or deterioration of saW property or any paR thereof; and in the eve~t of the failure of the Mortgagors to keep the buildings or said premiscs arsd those to be erected on said premises, or improvements thereon, in good repair, the Mortgagee may make such repairs as in its discretion it may deem necessary for the p~oper preservation thereof, and the full amount of esch and every such payment shall be immediatey due and payable. and shall be secured by the lien of this mortgage. ~ 6. -That they will pay all and singutar the costs, charges, and expenses. including reasonable lawjrer's fees, and costs ot abstracts of title, incurred or paid at any time by the Mortga8ee because of the failure on the part of the Mortgagors promptly and fuly to pe~form the agreements aod covenants of said promissory note and this mortgage, and said costs, charges and ex- penses shalt be immediately due and payable and shalt be secured by the lien of this mortgage. j 7. That they will keep the improvements now existing or hereafter erected on the mortgaged property insured as may be ; required from time to time by the Mortgagee against foss by fire or other ha2ards, casuafties, and contingencies in suc6 amounts l and for such periods as may be required by Mortgagee, and will pay promptly, when due, any premiums on such insurance for pay- ment of which provision has not been made hereinbefore. All insura~ce shall be carried in companiet approved bY Mortgagee = t ~ and the policies and renewals thereof shall be held by Mortgagee and have attached thereto loss psyaWe clauses in isvor of and j 'i in form acceptaWe to the Mortgagee. Renewal policies shall be delivered to Mortgagee at least 10 days prior tp axDiroUon of e~~s~' ~ ~ ing policy. In event of loss. they will give immediately notice by mail to Mortgagee, and Mortgagee may makeproof of toss ff not ~ made prompty by Mortgagors, and each insurance compam? concemed is hereby authorized and directed to make payment for ~ such loss directy to Mortgagee instead of to Morigagors and Mortgagee lointly, and the insurance proceeds, or any part thereof. ~ ~ may be applied by Mortgagee at its option either to the reductio~ of the indebtedness hereby secured or to the restoration o~ re- ~ pairs of the property damaged. 1~ event of foreclosure of this mortgage or other trans(er of title to the rr~rtgaSed Properh? in ex- , tinguishment of the indebtedness secured hereby, all right, title and interest of the Mortgagors in and to any insurance policies ~ then in torce shall pass to the purchaser or graMee. . - ~ a 8. That the Mortgagee may, at any time pending a suft upon this mortgage. spply to the oourt having jurisdiction thereot ~ for the appc~intrtrsnt of s receiver, and suCh court shall foKhwith appoint a receiver of the premises wvered hereby all and singu• ~ tar, including all and singular the income. prot'its, issues. and revenues from whatever source derived, each and every of which, it i being ezpressly understood, is hereby mortgaged as if specifiwlly set torth and described in the granting and habendum clauses ~ hereoi, and such receiver shall have all the broad and eHective tunctions and powers in anywise entrusted by a court to a receiver, ~ and such appointment shall be made by such court as an admitted equity and a matter of absolute right to said Mortgagee, and ~ without reterence to the adequacy or inadequacy of the value of the properiy moKSaBed or to the solvency or insolvency of said ~ Mortgagors or the defendants, and ihat such rents, profits, income, issues and revenues shall be applied by such receiver accord- ing to the lien of this mortgage and practice of such couR. ~ 9. That (a) in the event of arry breach ot tbis mortgage or default on-the part of the Mortgagors, or (b) in the event that any ~ of said sums of money herein reterred to be not promptly snd fuly paid without demand or notice, or (c) in the event tnat each ~ ~ and every the stipulations, agreements, conditions and covenants of said note and this mortgage, are not duly, promptly and fully i performed- then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest ~ ~ accrued to that time, and all moneys secured hereby, shail become due and payabte forthwith, or thereafter, at the option of said ~ ~ Mortgagee, as fully and completely ss if all of the said sums of money were originally stiputated to be paid on such day, any- ~ ~ ~ thing in said note or in this mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option of-said Mort- ~ gagee, without notice or demand, suR at law or in equ'~ty, may be Prosecuted as ii all moneys secured hereby had matured prior ~ ~ to its institution. The Mortgagee may foreclose this mortgage, as to the amount so declared due and payabte, and the said ~ premises shall be sold to satisfy and pay the same together with costs, expenses, and allowances. In cases of paRial foreclosure of this mortgage, the mortgaged premises shall be sotd subject to the continuing lien of this mortgage for the amount oi the debt not then due and unpaid. In such case the provisions of this paragraph may again be availed of thereafter trom time to time by the Mortgagee. . ~ OR ~ 8~~~~3 f~~E ~79 ~ ~ 3 S ~ ~L-. . _ . „ _ _ - - _ . - _ - _ ~ - - F ~;:(-r~°~.~~.'F' ~ „ . L-`~ ~`~`~~"c,' ~