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Home My WebLink About0762 tender lo tt?e Mortgu~;ee in sccordancee with the pro~ee;io~u oI tl~e notP secured iiereb~, full pa~•ment ot the entire in~lebtedneas repreaenteJ therebv, the Mortgagee, sa truatee, ahsll, in computiiig thP au~ount oi such indebteJneas~ credit lo tl~e arcount of tl~e tilort~oKor n~y creJit balance reinaining under Uie provisians of (s) ot said puagraph 2. lf tl~ere sl~all be a defau t under any of the pro~ieions ot ttiis u?ortga~e resulting in s public sale ot the pren?ises covered i~ereby, or if tt~e Mortgagre scquires tl?e prope~ty ott~erw~se after de(ault, the Mortgagee, as truatee, sl~sll apply, at the time of the ca~ii~iencement ot auch proceedings or at tl?e lime the property ~s otherwise acqui~ed, the amoun~ then re~i~sini~g to creclit ot Mortgagor under (s) oi paragraph 2 preceding as s credit on the interest accrued and unpaid and tl~e balsnce to the principal then remaining unpa~d on said notR. 4. He Nill p~y a!t taxes. aaeeaementa, water rstes, and other governmeatat or municipat charge,s, fiae~, o: impoaitions, for whic6 provision hae not been made hereinbeton, ~wd ia detault thereof the Mortgagee m~?y psy tbe eaone; end thst he will prompUy deliver We officiat reoeipte thenior to t6e Mortgagee. b. He will permit, oummit, or auBer no Maste, impairment~ or deterioration of asid property or any psrt ihereoi. e:cept reaeonabk wear and tear; snd in tLe event ot the failure oi the Mortgagor Lo keep the buildinga on eaid premieea and thoee to be erected oa eaid premisea. or impmvements thereoa~ in good repeir, We Mortgagee may mslce aueh repsire aa in ita diaeret~on it msy deem neceeesry tor the proper preac,rvs~ion tbereof, aad the full amounL of each and every euch psyment shall be due e?nd psysble thirty (30) dsys sitet demaad, and ahall be secured by t~he liea ot thie mortgage. 6. He will pay all and aingular the ooete, chs~gee, +md ezpenees, including reaeonsbk ls er's i ot sbetructs of title, incurred or psid at any ume by the Mortgagee becauee ot the fsilure on the ~ ~~d promptly and tully to perform the agrcements snd covenants of aaid pmmiaeory note and ttu~martgageMan gd a~sid ooete, chargee, and expea~ea shall be immediately due and payable and a6aU be eecured by the lien of this mortgage. 7. He will oontinuously maintain hazard insursnce, oi such type or typee and amounta as Mortgagee mey from time to time require, on the improvemente nov? or hereatter on ssid premises, and e.~cept when payment tor all such premiums hae theretofore been made under (a) of paragrsph 2 hereot he will pay pmm tl when due any preIIUUms therefor. All insurance shall be carried in com aniea a e~ po p pprov by 111ortgagee an t e li- cies and renewals thereof s6nll be held by Mortgsgee an d have attached thereto loss~ payable c lausee in favor oi and in form acceptable to the Mortgagee. In event oi loss he will give immediate notice by mail to Mortgagee, and Mortgagee mey make proof of Ioss if not made prnmptly by A+lortgagor, and each insurance oompany ooncerned is hereby aut6orized and d'uected to make peyment for such loss directly to Mortgagee instead oi to Mortgagor and Mortgagee jointly, and the insurance proceeds~ or any part thereot, may be applied by Mor~ gagee at ita option either to the reduction of the indebtednese hereby eecured or to the restorataon or repair of the pmperty dema~ed. In event oi forecloaure oi this mortgsge or other transfer of title to the mortgaged property in extingu~shment oi the indebtedness secured hereby, all right, title~ and interest oi the Mortgagor m and to any insurance policiee t6en in lorce ahall pnsa to the purchaser or grantee. R. tf !he pre~nis~~, or un~- part U~~r~~of, lx• c•ond~~um~d under th~ pow•~r o( eii~in~nt ~loiuu~n, ~r a~yuired for a publi~ usE•, thc~ dan~uKc~s uw•arcled, the pror~~~~is for th~~ takin~ of, or th~~ ~onsid~~rution for su~•h a~•yuisition, to t6e extent of the full amount of t}ie reniaininK unpai~l in~l~bt~~rln~~s s~~~•umd br tliis ~iiort~aKe, arn hereb~• ussi};nt~~~ to th~~ ~IortKaK~~~, un~l hi.e hrirs nr a~.5i~;ns, anil ~I~ull h~• pui~1 f~~rthw•ith to suid ~1ort~a~r~ or his aasiKnee to ~ applie~l on ac•~•ount of thi• lu.t n~aturinK i~~stalln~ents of sue•h indebtedness: pro~•i~IPd, hoKC~ver, tlie \lortKuKe~• or liis as.tiiKne~~, ~uu~- ut I~is ~lis~•r~•ti~n pu~- dirnrt Io th~ ~lortgnKor, his h~~irs or assiKns an~• part or all of surh aw•ar~l; pro~•~~1~•~I, that if th~~ luan is Ku:~runt~~~•~1 or insur~•~I, th~ ~•onseut of tlie ~uarantur or insurer is obtained in aclvanc~ of ~ui~l pa~~n~~nt. The :~iortgagee may, at any time pending a suit upon this mortgage,~spply to the ooutt having jurisdiction thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered hereby all add singular, including all and singular the income, pro6ts, issuea, and revenuea from whatever source derived, each and every of which, it being expresaly understood, ia hereby mortgaged sa if specifically eet forth and i described in the granting and habendum clauses hereof. Such appointment shall be made by such court as an admitted equity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of ' the vslue of the property mortgaged or to the eolvency or insolvency of said Mortgagor or t:~e defendante. Such ~ rents, pro6ts, income, issues~ and t~evenues shaA lSe applied by such receiver according to the lien of thie mortgage and the practice of such court. In the event of any detault on the part of the ;4lortgagor hereunder, the Mortgagor i agrees to psy to the l~iortgagee on demand as a ressonable monthly rental for the premises an amount at least { equivalent to on~twelith (~2) of the aggregate of the twelve monthly installments payable in the then cun~ent ; year plus the actual amount of t6e annual taxes, asse~mente, water rates, and insurance premiums for auch year ; not covered by tbe aforesaid montWy psyments. ~ 10. In tbe event of any b_-each of thia mortgage or default on the ~ part of the Mortgagor; or in the event that any of said sums oi money herein referred to be not promptly apd fuUy paid according to the tenor hereof, or in the @ event that each and every the atipulations, agreementa, conditions~ and covenants of said aote and this mortgage, ~ are not duly, promptly, and fully performed; then in either or any such event~ the said aggregate sum mentioned ~ in esid note then remaining unpaid, with interest acerued to that time, aad all moneya secured hereby, ahall become ~ due and peyable forthwith, or thereafter~ at the option of said Mortgagee~ ss fully aad completely us if sll of the said suma of money were ori~inally atipulated to be paid on such dey, anything in said note or in this mortgage to ~ the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice or ~ demand, suit at law or in equity, may be prosecuted ss if all moneya secured hereby had matured prior to its inatitn- ~ tion. The Mortgagee may foreclose this mortRage, as to the amount eo declared due and payable, and the said ~ premises ahall be sold to satisfy and pay the same together with coste, expenses, and allowancea. In case of partial ~ foreclosure of this mortgage~ the mortgaged pmmisea shall 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 provisione of thia paragraph may again be ~ availed of themafter Irom time to time by the Mortgagee. ~ 11. No waiver of any cavenant 6erein or ot the obligation secured hereby shall at any time thereafter be held ; to be s waiver of the terme hereol or of the note secured hereby. : 12. The lien of thia inbcrument ahall remain in full force and effect during any postponement or extension of = the t.me of psyment of the indebtedneee or any part t6ereot eecured hereby. I:3. If the Mortgagor defeult in any of the covenants or agreemente contained hercin, or in said note, then the x Mortgagee may perform the same, and all expenditures (including reaeonable sttorney's fees) made by the MortgaRee in so doinR shall draw interest at the rate provided for in the principal indebtedness~ and shall be repa~•able t6irty (30) days after demand, and~ together with interest and costs accrued thereon, si~811 be secured by t6is mortgage. J ~ 14. Upon the request of the 141ort.~agee the :1Tortga~;or sha11 execute and deliver a supplemental note or I notes tor the sum or sums advanced by t6e ~lortgagee tor the alteration, modernization, improvcment~ main- ' tensnce, or repai~ ot said premises, for taxes or a~~essments against the same and tor aa3• other purpose author- ~ ~ ized hereunder. Ssid note or notes shall be secured hereby on a parily with and as fully as if the advance ' ~ evidenced thereby were included in ~he note first described above. Said siipplemental note or notes shall bear ; intErest st the rate provided for in the principal indebtedness and shaU be payable in approximately equsl ~ monthly psy ments tor such period as may be a~reed upon by the creditor and debtor. Failin~ to agree on the ~ maturity, the whole of the sum or sums so advanced shall bc due and pa~able thirty (30) days afler demand ~ by tbe creditor. In no event shall t6e maturily extend beyond the ultimate raaturity of lhe note first ~ described sbove. 3~~• 5 '~~;r ° ` ~ ?ss ~L ~