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Home My WebLink About1434 YRU1'IUEU AL11'Al•S, 1.1?ut if said Mort};ugur .hall ~?uy auto said Mortgage the debt ur obligation es~i- ckv?ctid and x•cuncl by this mortgage decal ;md also evidenec~c by the promissory note, a copy of which is attached hereto ;uxl made h:ut hereof, as if fully expresscYl herein, and all renewals thereof. and shall perform, c~~mply with ,uul :?bide by c•:u•h :uxl ever • the stipulutic;ns, agreements, a,nditions and covenants of said pn,miscory r?c,tes arnl of N?is de~c•el then this d?•c•cl anc~ the estate hereby created shall cc•asc+ and hR null and void. FUR THE PURPOSE OF INDUCING THE MORTGAGEE TO EXTEND TO THE MORTGAGOR 7'HE CREU[T HERE81' E1'IDENCED AND SECURED. THE MORTGAGOR HEREBY COVENANTS AND AGREES: 1. To promptly pay when tint due the obligation evidenced and secured hereby. This covenant shall be con- strued to constih?te an independent, unequivocal and umm~ditiona) obligation on the part of the Mortgagor to pay to the Mortgagee the deht hereby evidenced and secured. s To promptly pay, when due, all ground rents, taxes, assessments, public and other dues and charges levied } ur ;?ssessed or which may be levied or assessed on the property and on the mortgage debt and interest, and upon t~ayment thereof to exhibit to the Mortgagee the receipted bills therefor at the place of business of the Mortgagee; :?nd not to permit an}• lien or encumbrance on the pro rty superior to the lien of this Mortgage or statutory ?en of ~ :?ny kind except liens for taxes not then delinquent. Ifpthe 1ltortgagor shall default in the performance of the cove- nants l?ereof, the saki '?lortgagee may at any time, without waiving or affecting his option to foreclose, or any right . hereunder, p;ry said taxes, assessments, levies, liabilities and encumbrances, and every payment so made by the Mort- ~:?gee shall hear interest from the elate thereof at the rate of 10% per annum. 3. To p;iy ;ill and singular the costs, charges and expenses, including lawyer's fees, reasonably incurred or t,aicl :it an • time by said Mortgagee, because of the failure on the part of said \lort agor to perform, comply with and abide ~y each and every the stipulations, agreements, conditions and covenants of said promissory notes and this Aced, ~r either, and every such payment shall bear interest from date at the rate of lOrJo per annum. To keep the buildings and personal property nosy or hereafter located on said land insured against loss b~- fire and windstorm, in a sum not less than the unpaid aggregate indebtedness hereby secured, in a company or companies to be approved by said Mortgagee and the policy or policies held by and payable to said Liortgagce, and in tl?e event any sum of money becomes payable under such policy or policies, the Mortgagee shall have the option to receive and apply the same on account of the indebtedness hereby secured or to permit the Mortgagor to receive :u?d use it, or any pazt thereof, for other purposes, H•ithout thereby waiving or impairing any equity, lien or right under or by yirh?e of this mortgage, and may place and pay for such insurance or any part thereof without ~.•aiving c,r affecting the option to foreclose or any right hereunder, and each and every such payment shall bear interest at the rate of 10`"c per annum. To promptly deliver to the Mortgagee original receipts or other written evidence shos.•- ing payment of all insurance premiums when due. ~ _ 5. To permit, commit or suffer no waste, impairment or deterioration of said real or personal proppeerh•, or .cm• part thereof. To keep all improvements, buildings and personal property situated on the above described •lancl in good state of repair, well painted and waterproofed, acid M promptly pay all costs and expenses thereof. «'ith- n,t the written consent of the Mortgagee, the Mortgagor shall not remove, or allow to be removed, the tangible prop- rrty hereby encumbered from the above described real property. 6. It shall be deemed a default under this Mortgage, if, N•ithout the written consent of the Mortgagee, (a ~ the Mortgagors shall sell, cease to o~vn, assign, transfer or dispose of all or an}• part of the mortgaged propert~•, or , b ? the mortgaged property is abandoned. a In the event the Mort agee consents to the sale, lease or transfer of any kind or any part of the mortgaged ~ properh•, the Mortgagor shal~ pay any reasonable attorney's fees or any other expenses incurred by the Mortgagee as result of any such consent. The parties hereto acknowledge that the 1liortgagee is relying on the credit and per- ,onal responsibility of the Mortgagor, therefor the Mortgagee may .withhold his consent to any such transactirn? described above at his discretion. r 'r. ;\'o delay by the Mort agee in enforcing the terms and provisions of this Mortgage Deed or the promissory ~ notes hereby secured shall ever be construed as a waiver of the 111ortgage~es right to enforce the same. The debt evidenced and secured by this mortgage deed and the promissory notes herein referred to, having once been ar celeratecl by reason of default, cannot be decelerated save and except (1) by an instrument in writing executed by the Mortgagee under seal, and also (2) supported by independent good and valuable consideration. The acceptance `s h.• the Mortgagee of pazt payment or part performance by the 11lortgagor shall not be treated as curing any default, nor shall the same operate as an estoppel or waiver against the Mortgagee. , 8. If any said sums of money herein referred to be not promptly and fully paid when due and payable, or if each and every the stipulations, agreements, conditions and covenants of said promissory notes and this deed, or 1 either, are not duly perforTr?ed, rnmplied with and abided by, the said aggregate sum mentioned in said promissory 1 notes shall become due and payable forthwith automatically and without notice, as fully and completely as if the said aggregate sum of money evidenced by the promissory notes hereby secured was originally stipulated to be paid on such day, anything in said promissory notes or herein to the contrary notwithstanding. t 9. It is agreed that the provisions, agreements, terms and conditions contained in this 1liortgage Deed, and promisson• notes hereby secured, together with the lien and security hereby created, shall extend and apply to, and t ~m-ern any and all notes given in extension or renewal of the notes hereby originally secured. g 10. All persons, associations and corporations liable for the debt hereby expressly waives any statutor• or „ther defense which they now have, or may hereafter have against the enforcement of the terms, provisions, agee- - nu•nts and conditions of this Mortgage Decd and the promissory notes hereby secured, and each of them does hereh}- a~rec~ that they have no set-off or counterclaim against the enforcement and collection of the debt hereby secured. _ I1. The term "Mortgagee" as used in this \iortgage Deed and the promissory notes hereby secured, shall lx• cieeme•cl to include and mean the Mortgagee, his or her or their hews, administrators, executors, grantees and as- sit;ns, and if a corporation, its successors, grantees and assigns. The use of the singular shall be construed as the plural whenever the context so requires. The terms "debt" or "obligation", as used in this Alortgage Dc•c•d and t~romissory notes hereby secured, shall be deemed to include all the covenants, agreements and promises of thc• Mortgagor as herein delineated. r 12. Upon default by the Mortgagor of any of the terms, provisions, agreements and conditions of this mort- ~at;e deed, and the promisor} notes hereby secured, the :Mortgagee shall have the right to have a receiver aplx,int,•cl to take charge of, control and manage the mortgaged premises, and to collect and hold the rents and profits acc•rnin~ therefrom; such receiver shall be appointed without the necessity of showing insohency of the Mortgagor or inade- cluacy of the mortgaged security: all rents, pmlits, revenues arc( income arising from the mortgaged premises r,r ~,~P~ 3U6 -~::143~ - - ,