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Home My WebLink About0903 , tender t,o the Mortgagee in vccordonce witl? tha proviaans ot tlie notc secured liereb~ ,[uU payuient ot the i eatin indebted~ess represen~,ed thereby , the~ Mortgagee, ss truatee, ahall~ in computi~g the amount ot auch ~ indebt~e~lneas~ credit to tlie account of tl~e MortgaRor any cred~t balance re~naining under tl~e provisions of (t) ~ of said paragnph 2. 1I there shAl) be • detault under any ot the pmvisiona ot th~s mortga~e resulting in a i public sale ot the prem~sea covered hereby~ or if the Mortgagre acquues the property otl~erw~se after default, ~ the Mortgagee~ as truatee. shsll opply~ at the time o~ the couimencement ot such proceedings or at tl~e time the pmpert,y re otherwise acquired. the amount then re~u~ining to credit of Morlgagor under (s) of peragrap}~ 2 ~ preceding ae t credit on the interest sccrued and unpaid and tl?e balsnce to the principal then rnrnaining unpaid on said note. He will pny aq ta~ces~ aeseeements, water ntes, and other ~overnmental or municiP~1 eh~r~es, 8na. os impoeitions, tor wblcb proviaion haa not been made hereinbeiore, and ia detsult thereof tbs Mort~ee ao~Y PRY ~ nme; and t6at be will prompt~y deHver t6e aA'icial reoeipt~ therelos t~o t6e Mortg~ee. b. He will permit~ oommil~ or auSer no waate~ impnirment~ or deterioration ot s~id property or an part thereot ~ escept reaaonabb Mear aad t,esr; and in the evcat af the failure ot the Mor~$agor to keep tLe bu~ing~e on eai~ } premisee and thoee to be erect~ed on eaid premiees~ or improvements thereon, ia ~ood repair the Mortgagee may ~ mske wch repairs ae in ite diecret~on it msy dcem neceeeuy for t6e proper pe~scrvstioa therao~. and t6e fult amount ; ot each end every such payment sball be dne and p~yabb thirty (30) days sfter demand, and shull be eecured by = the lien of this mortpae. 6. He will psy all and eingular the oo~eta~ and ezpenses, includina naeonsbk Lwyes's fees, and ooet~ . of abetracts of title, incurnd or psid st sny time b~Mort6agee because of the fe~ilare on the part of the Mortgagos ' o ete,P~chsrgea sn expe~neee hall be im~medise te due anenanta of asid pmmieeory note and this mortgnge, and said d ly psysble aad shsll be eecured by the lien of tbis mortg,ag~e. 7. He will oontinuoua~y msintain hsaard i~urance, oi such type or Lypes snd smounte as Mortgagee may imm Lime to time require~ on Lhe improveanente now or hereaiter on said premises and exoept when payment tor all such premiums has theretofore been made nnder (s) oi pacagra,ph 2 hereof 'ha will pay pmmptly when due any premiums thcrefor. All insurance shall be carried in compamea spprove~ by 111ortgagee and the poli- cies and reaewals t6ereof shall be held by Mortgagee and have attached thereto loas payable cCauses in isvor of and in form acceptsbla to the Mortgagee. In event of loss he will give immediste notice by mail to Mortgagee~ and ~tortgagee may make proof of Iosa if not made promptly by Mortgagor, and each insurance aompany ooncerned ia hereby~ suthorized and directed to make payment for such loaa du~ectly to Mortgage~e instead oi to Mortgagor and Mortgagee jointly~ and the insurance pmceeds, or any part thereot~ may be appGed by Mor~ gagee•at ita option either b the reduction of the indebtedness hereby eecured or to the restorat~on or repair of the pmperiy dama~ed. In event oi forecloaure of this mortgage or other transfer oi title to the mortgaged property m extingu~shment o! the indebtednesa secured hereby, af 1 right, title~ and interest oi the Mortgagor m and Lo any insurance policiea then in force shall p~s to the purchaser or grantee. 8. If tlie premis~s, or an~- part themof, be condeniu~cl m~der th~ pow~r of en~inent. cloniu~n, or acyuirnd for ~ a public use, tlie do~iiaKrs ev?arclecl, thi~ pro~•~~c~ls for the taking of, or the ~•onsid~rution for such a~•quuition~ to ~ tiie extent of tl~e full a~i~ount of the mn~ainin~_u«pai~l incl~bt~~lness serurecl b~• tl~is n~ortga~e, are 1?ereb~- assiKned to 1}~e ~1ort~s~er. nnd hi.~ 1?eirs or assikns. un~l shull Ix~ pni~l torthw-ith to said ~1ort~ag~~~ or 1?is aasignee to lx~ applied on acc•ount of th~• last n?nturi~~K installn~ents o( su~•h indebtedness; pro~i~led. ho~e~er, tt?e ~tortKu~c~ or his assignce, u~u~- ut liis disi•r~~tion pa~• ~lir~~~•t to th~ VlortgA~or, his h~irs or s~ssiKns an~• part or ~Il of such aWarcl; proc~~led, that if lhe loun is ~unrunt~~~~~1 or insured~ th~ consent of the guarautor or insurer is obtained in advance of said pa~•m~nt. 9• 'The ylortgagee may, at any time pending a suit upon this mortgage, apply to the oourt hsving juriediction e thereof for the appointment of a receiver, and such court shall forthwith appoint s receiver of the premises oovererl hereby all arid singulnr,. including all and singular the inoome~ proSta~ iasuee, and revenues from whatever eource ` derived, eac6 and every of whicb, it being expressly understood~ is hereby mortgaged as it speciScally set forth and described in the granting and habendum clauses hercof. Such appointment s6all be made by such oourt as an admitted equity and a matter of absolute right to said Mortgagee, and without referenoe to the adequacy or inadequacy of the value of the pmperty mortgaged or to the eolvency or insolvency of eaid Mortgagor or the defendanta Such i rents~ pro5ta. income, isaues, and revenues ahall tfe applied by auch receiver a«:ording to the lien of this mortgage ' ~ and the practice of such oourt. In the event of any default on the part of t6e Mortg,agor hereunder~ the Mortgagor agrees to pay to the Mortgagee on demand aa a reasonable monthly rental for the premiees an amount at lesat equivalent to one-twelfth (~s) of the aggregate of the twelve mont}ily installmenta psyable in the then current ~ year plus the actual amount of the annual taxee, asseasments, water rat~a~ and insurance premiuma for such year ~ not oovered by the ~?foresaid monthly psyments. ~ 10. In the event of any b~each of this mortgage or default on the part of the Mortgagor; or in the event that € any of said euma of money herein referred to be not pmmptly and fully paid according to the tenor hereof, or in the ~ event thst each and every the atipulations~ agreements, conditione, and oovenanta of said note and this mortgage, are not duly~ pmmptly, snd fully performed; then in either or any such event~ the said aggregate sum mentioned in eaid note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shaU become due and psyeble forthwith, or thereafter, at the option of said Mortgagee, as fully and completely ~s if all of the ~ esid eume of money were orignaUy atipulated to be paid on such dsy, anything in said note or in this mortgage to 3 the contrary notwithstanding; aad thereupon or theteafter, at the option. of said Mortgagee~ without notice or ~ demsnd, suit at law or in squity, may be prosecuted as if all moneys aecured hereby had mstured prior to ite institw ~ tion. The Mortgagee may foreclose this mortgage~ as to the amount so declared due and payable, and the said ~ premieea shall be sold to satisiy and pay the same together w:t6 costs~ expenaes, and allowances. In case of partial ~ foreclo~ure of this mortgage, the mortgaged prnmises ahall be eold aubject to the continuing lien of thia mortgage for the amo~nt of t6e debt not then due and unpaid. In suc6 ca~e the provisiona of thia paragraph may again be ~ svailed of thereafter from time to time by the Mortgagee. 11. No ~raiver of any oovenant herein or of the obligation aecured hereby ahall at any time therea[ter be held ' to be s~vaiver of the terma hereof or of the note aecwed hereby. ' ~ 12. The lien of thie inscrument shall remain in full force and eHect during sny Ewstponement or extenaion of ~ the Wne of psyment of the indebtednese or sny part thereof eecured hereby. ~ 13. If the Mortgagor default in sny of the oovenants or agreementa contained herein, or in eaid note~ then the ~ Mortgagee may pedorm the aame~ and all expenditures (including nasonable attorney'a fees) made by the Mortga~ee ~ in so doing shsll draw iniereat at the rate provided for in the principal indebtednesa, and shall be repa~ able ~ thirty (30) days aft.er demand, and, together with interest and costs accrued thereon~ shall be secured by ~ this mortgage. ~ ~ 14. Upon the request of t6c Mortgagee the ;1lortgagor shall eaecute and deliver a supplemental note or ~ notes for the sum or sums advanced by tbe ~tortgagee for the alteration, modernization, improvemcnt, main- tenance, or repai- of said premises, for taxes or as.~essments against the same and [or any other purpose author- ~ ized hereunder. Said note or notes shall be secured hereby on a parity with and as [ully as i( the advance ' evidenced thereby were included in t,he note first described above. Said supplemental note or notes shall bear interest st the rste provided for in the principal indebtedness and shsll be payable in approximately equal mont6ly payments tor such period as may be a~reed upon by the creditor snd debtor. Failing to agree on the maturity, the whole o( the sum or sums so ad~ anced shall be due and pa~ eble thirty (30) days a(ter dcmand by Lhe creditor. In no event shsll t6e maturity extend beyond t6e ultimete raatwity ot the aote first deacribed above. ~ L ~ i1V~ •JVV ~'i~ ~ _ h -~'~:~-,.t , . . ~.e-~x`t~