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Home My WebLink About0794 ~ . ' t~ • , ' • ' ' ~(~a.= tenciet to the Mortgagee in acconfance witl~ the provisions ot tl~e note secu~ed I~ereby, tull pay~nent ot the antire indebtedneea repres~ented thereby , the Mottgagee, as trustee~ ahsll~ in computing the s~uount ot euch it~debtedneas~ credit to tl?e account ot ti~e MongaRor any credit be?lance reinsining under tl?e provisions of (e) ot s~id paragrsph 2. 1[ there shall be a dehult uoder any o[ the provisions o! lhis iiiortga~e resulting in s public sale ot !he premises covered hereb,v, or i~ the Mortgagee acquues lhe property otherw~se after defautt, ~ the Mortgsgee~ ~a truetee~ shall apply~ at tha time of the caninencement of such proceedings or at tl?e time : the pmperiy m otherwise acquired~ the amount then reu~aining to credit ot Mortgagor under (s) of puagrspl~ 2 • ~ preceding ae a credi~ on the interest accrued and unpaid and t)ie balance to the principal then remain~ng unpaid on said note, 4. He wIU p~?y all t+?~ces, ~eeeesmeab„ w~ter ratee, aad othes ~ove~nmental or muaicipal eh~c~es. Sne~. or impomtlons, for wbich provieion hae not been m~de 6eninbefore, aad in detault thereoi t6s Mo~t6,~ee maY P~Y ~ s~me; and tbat he will promptly deliver tbe o6cial reoeipte tberefor to fbe Mortg~ee. b. He ~vill permit, oommit, or autter 8o waste, imP~irment, or deteriorstion ot esid property or any psrt thereot e~ccept_reaaonabb wear and t,ear• and in the aven` of the failure oi t6e Mortpgor to keep t6e building~e on sai~ premiees snd thoee to be erecte~ on eaid premises~ or improvements thereoa, ia good repair We Mortgagee may make such repaiis as in ita discnt~on it msy deem neceaeary for tLe proper Preacrvation tbereo~, ~nd the full amount ~ o~ each snd every euch payment shall be due and P~Yabb t6irtY (30) d~y?e ait~er demand, aad ehsll be secured by the lien ot this mortga~e. 6. Ha will psy all and eingular tbe ooete, ,~d exP~, iacludina reasonabk Lwyer'a fees, and oosts oi sbetracts o! title, incurred or paid at any time b~Mortgagee because of the failure oa the part ot tbe Mortgagor promptly and fully to pedorm the ~greemente and oovenante ot eaid pmmieeory note and thie. mortga~e, snd eaid ooete, c6argea, and expenees ahaU be immediately due and psyable and ahsll be secured by the liea oi t~ie mortgage. 7. He wiU o~ntinuoua~ msint~ain hszard i~urance, oi such type or types and amounte as Mortgagee moy trom time to time require, on Lhe imprnvements now or~?ereatter on asid premises and exoept when psyment !or sll auch premiuma hsa theretofore been made under (a) oi paragraph 2 hereof ~a will pay promptly whea due any premiums thcrefor. All insurance ahall be cariied in companies approve~ by 111ortga~es and the poli- ciee and renewsls t6ereof shall be held by Mortgagee and have sttached thereto loss payable cTauses in isvor of and in form acceptable to the Mor ee. In event oi loss he vvill give immediate notice by mail to Mortgagee, and Mortgagee may make proof oi if not made promptly by Mortgagor~ snd each insurance aompany ~ ooncerned is hereby~authorized and directed to make payment for auch lo~s directly to Mortgagee instead oi to Mortgagor and Mortgagee jointly, sad the insurance pmceeds, or any part thereof~ msy be app7ted by MorF gagee at its option either to the reduction of the indebtednees hereby eecured or to the restorataon or repair of the property damaped. In eventi o! forecloaure oi this mortgage or other transfer oi title to the mortgaged propecty in extingu~shment of the indebtedness eecured hereby, e~l right, title~ and interest of the Mortgagor, m and to any insuraace policies then in force shall pass to the purchaser or grant~ee. 8. If the preiuises, or nn~- part therrof. be~ rond~nmecl under th~ power of e~uinent~ dmi~am, or acyuired for a public use, the dama~c5 awarcled, tLr pro~•eeds for Ihe taking of, or th~• ~onsideration for surL a~quisition, to the extent of the full u~nount of tlie ren~aining unpai~l inclebtedness sec•ured h~• this inort~aRe, ar~ liereb~• assiKned to tL~ ~iortga~e~. un~l I~i,s lieirs or assikns. un~l shull tm pui~l forthwith to saici ~1ort~agee or his eissigflee to be applied on ac~•ount uf the lust mnturiu~ ii~stallnients of su~h indebteclnrss; prnvi~led, hoN•~~er, tlie ~lortguKe~ ur l~is assiKnee, iua~- at his ~lis~•ri•tion pa~• ~lirert to th~ VlortguKor, l?is Leirs or ussigns an~• part or all of suc•li aN•ard; provi~led, thut if the loan is Kut~rantri•d or insurecl~ the ~onsent of the guarantor or insurer is obtained in actvence of said pa~•~uent. 9• The Mortgagee may~ at any time pending a suit upon this mortgage, apply to the eourt having juriediction R thereof for the eppointment of a receiver, and such court shall forthwith appoint s receiver of the premises oovered hereby all and singular, including all and singular the income~ profits, isauea, and revenues irom whatever source derived, each and every of whicb, it being expressly undeistood~ ie hereby mortgaged ae it apeci6cally eet forth and ~ described in the granting and habendum ~clauses hereof. Such appointment shall be made by such court ss an admitted ` equity and a mstter of absolute right to said Mortgagee~ and without reference to the adequacy or inadequacy of the vAlue of the property mortgaged or to the $olvency or insolvency of ssid Mortgagor or the defendante. Such ' ' renta, pro5ts, income~ issues, and rEVenues shall lse applied by such receiver acxording to the lien of this mortgage ~ ~ snd the practice of such court. In tbe event of any default on the part of t6e Mortgagor hereunder~ the Mottgagor € . agrees to pay to the Mortgagee on demand as a reasoneble monthly rental for the premises an amount at lesat i ( equivalent to one-twelfth (~z) of the aggregate of the twelve monthly installmants p~yable in the then current ` year plua the actual amount of the annual taxes, s~ssmente~ water rates, snd insurance pr~miums for such year t not oovered by the aforesaid monthly p~ymente. ~ ~ IO. In tLe event of any b*each of this mortgage or default on the part of the-Mortgagorf or in the evcat that - ~ sny of gaid aums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the event that each snd every the atipulations~ agreements, oonditione, and oovenants of said note and this mortgage ~ are not duly, pmmptly, and fully performed; then in either or any such event, the,said aggregate sum mentioned e in eaid note then remaining unpaid, with interest accrued to that time~ and all moneys secured hereby, shall become ~ ~ due snd payable forthwith, or thereafter, at the option of said Mortgagee, as fully aad completely ,~a if aIl of the ~ ea~id eume of money were ori~inally stiptilated to be paid on such day, anything in said note or in this mortgage to t6e oontrary notwithatanding; and t6er~upon or thereafter~ at the option of said Mortgagee~ without notice ~r ~ demand~ suit at law or in equity, msy be prosecuted ss if all m~neys secured hereby had matured prior to ita institu- ~ tion. The Mortgagee may foreclose this mortgage~ as to the amount ao declared due aad payable, and the said premiees ahall be sold to satisfy and pay the same together wjth costa, expenees, and aUowances. In case of partial ~ foreclo~ure of thia mortgage, the mortgaged premisea shall be sold subject to the continuing lien of this mortgage a for the amount oE the debt not then due and unpaid. In suc6 cs~e the provisions of this paragraph may again be s availed of thereatter from time to time by the Mortgagee, ~ 11. No waiver of any covenant 6erein or of the obligation secured hereby shall st say time thereafter be held ~ to be a~vaiver of t6e terma hereo! or of the note secured hereby. 12. The lien of thie inatrument ehsll temain in !ull force and eRect during any poatponement or exteu§ion of t~he time of p~yment of t5e indebtednese or any part thereof eecured hereby. ; 13. If the Mortgagor default in any of the covenanta or agrcementa contained herein~ or in said note, then the ' Mortgagee msy perform tbe same, and sll eupenditurES (including resaonable attoraey's fees) made by tt?e MortgaAee ~ in eo domg shall draw interest at the rate provided for in the principal indebtedness~ and shal) be repa~•able < tbirty (30) days a[ter demand, snd, together with interest and costs accrued thereon, s}~all be secured by ~ this mortgage. 14. U n t6e request ot the Mortga~ee the Mo ' rtgagor shall ea~ecute and deliver a supplemental note or ; notes for t e sum or sums advsnced by the ~iortgagee for.the alteration, modernization, improvement, main- ~ tenance, or repai- ot said premises, for taxes or as.Qessments against the seme and for an other ur y p pose author- - s ized hereunder. Ssid note or notes shall be secured hereby on a parity with and as tully as i( the arlvance ~ evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear interest at the rate provided for in the principal indebtedness and s6all be pa able in s ' monthly psyments for such period as may be agreed u y pPr°r~mBte~Y equ°~ ~ pon by the creditor and debtor. Failing to agree on the 5 msturity, the whole of the sum or sums so advanced shall bc due and peyable thirty (30) days a(ter demand E by t6e creditor. In no event s6all Lhe maturity extend beyond the ultimate rseturity oi the note first described sbove. { - ` ~ gQO~ 3U8 PA~E 794 3U6 T~~.~ ~02 : ~ E8-~~it~ , _ 4~ ~ ~ ~ t~ ~ _ _ . t~ _ , c.~~-~