HomeMy WebLinkAbout1633 7. 11 ony of the wws of money herein refitted h be not prowplly and fully paid wiMiw fifteew (1S) days resat ofhr Me ame wrerolly become due
and poyobb, a if each and awry tM stipubtaws, ogreewseeh, conditans and cownonh d said p?omiaary noh and Mis morgage, a e:Mer, ore not duly
perfortrsed, cornplisd w:M awd abided by, tM oggrpah ww mewtiowed iw said promissory soh shall bxotwe due and poyobb forthw:M or thereafhr of
1M opKow o/ the Mortgagee, oa fully and compbhly os if aid oggngoh wm of money was originally atipubted ro M paid on wch day, anyMsing iw
aid prowiwory woh a Mrein b the cowtrary notwiMsbnding.
To deliver h aid Mortgagee, ow or behn March 13M d each year, bx receipts widewcing the poyweM d oN lawfully iwposed byes fa 1M
proceeding cobt?dor year, to deliver b aid rlAortgogee, rxeiph evidencing the payment of all liens for public irwprowmenh within ninety (90) dogs after
tM some shall become dw awd poyobb and b poy or ditchorpe wiMin wnety (f10) Boys ofhr due dote, owy and oN gowrnmentol levies Mot way M
mode ow Me wartgoged propeAy, on Mis nortgoge a note, or in owy oMer woy revelling from Me Mortgage indebtednts; secured by Mh wortgage; and
if this eonditiow be wM complied wiM owd performed, aid warlgogee may poy wch ww or wms which shoN become port of N+e debt secured by Ma
wartgoge, and sMll boor interest of Me awse roN os the nsorlgoge note, poyabb term-ownuolly until paid or said Morpo~ee way e4ct that sold wwrt-
goge debt Merwpon become dw and poyabb forMwiM.
9. It is further cownon?ed and agreed by sold ponies Mot in the event o{ o wit beirq instituted ro forecbss Mis mortgage, Mee Mortgagee shoN
be entitled b opp:y at ony tams pending such foreclosure suit b Me court having jurisdiction Hereof for the appoiwlwenl d a repiwr of all and singubr
Me mortgaged property, and of all the rents, incomes, profih, issues and nvenws thereof, how whohoever source derived; and Merwpon it is Aenby
expressly cownonted and ograeu Ihot tM court shall fortltwiM appoint o receiwr of aid mortgaged property, all and singular, and of wch renh, in-
«.vrt, profih, issws and revenue Hereof, fraw whotsoewr source derived, wiM Me usual power and duties d receiwr in like cosec; and such op•
pointwent shall be wade by wch court os a wooer of evict right ro tM Mortgagee, ih sucnsson, bgol npnssntotiws or assigns, and wiMout nhnnce
b Me adequacy or inodequary of Me wlw of Me property Mreby mortgaged, a b Me solvency a insohrengr d Me Mortgagor, and Mot such rant,
profih, income, issues and rewwues slsoll be applied by suds receiwr ro the payment d the worgoge itsdebtedweas, cosh and Barges, according ro
Me order d such court.
10. Upon aey default under the mortgage hole or 1M twortgoge, et 1M optan d Mee . lalder of IM mortgage note the unpaid bohnce of Me
morgoge note and ony advances .vade under it, or 1M mortgage, together wiM interest, shall become due and poyobb, time being of Me ewnce of
this contract. Any waiwr of ony payment under Me note a wargoge of ony 'itwse shall hot, of any oMer time, be bkew b be o waiwr d Me firms d
tM note or warpage, and the occepbnce of poymonh upon aid indebadneu shoN net eonatituh o waiver e/ Me option of the holder of the note b
oaeleroh repayment of Me entire unpaid bobnd, untie the holder expreuly gronh such waiwr iw wriHng.
11. If all or ony port of Ms property a an interest Merlin is sold or transferred by worfgogor wiMout mortgagee's prior writhe corwnf exdud•
ing (o) Me creof:on of o I:en or encasvsbronce wbordinoh to Mis mortgage, (b) a tronshr by devise, descent, or by operotbn of law upon the deoM of
o joint tenant, o?, (c} Me grant of ony kouhold interest of Mree (J) year or' feu not containing on option b purchase, or (d) Me creation d o pur-
chase money security interest for Muaehold oppliancoa, mortgogw woy of mortgagee's optan, dxbn all wms secured by Mls mortgage b M immediohly
dw and payobb. Mortgagee spoil have waived such option b ouebroh only if, prior M Me ab or tromhr, mortgogq and tM person b whom Me
propery is to be sold or transferred reach ogreemont in writing Mot such person is o qualified, borrower ro Me atisfoction of natgogoe exercised
:n ih sole discretion and that cry modifications of Mrrwa of tM morgoge loon as are required ~ by mortgagee in its sob and obsolete discretion which
modifications woy include without (imilotan Me rah of interest poyabhr on the sums secured by Me warpage to o rate oa requested by mortgagee
hate been agreed upon.
If mortgagee exercises such option to orcelerote, mortgagee shall moil mortgagor notice of aecekrotion by depositirp aid letter in Me United
Stites Mail, postage prepaid, to Me following oddreu:
Such notice shall provide o {.er:od of not feu than Mirty (30) days from the dote the notice is moiled, within which mortgagor woy pay Me wm de-
clared due. If mortgagor foils to poy such sums prior b the a+p:rotbn of such period, Me loan shall be in defavh and mortgagee may, wiMovt Fur1Mr
notice or demand on mortgagor, invoke ony remedies os provided for herein upon the event of defauh.
Any waiwr of ony payment under the note or mortgage of any time shall not, of ony other time, be bken ro be a waiwr of Me terms of Me
note or mortgage, and Me oc~eptonce of payrneMS upwn sold :ndebfedneu shall not constifuh a waiwr of the option of 1M mortgagee ro ouebroh
the indebadneu as provided for hersin.
14• 11 a conwrance should be made by theearart9a9or of the premises Mro:n dex.:bed, a arty pert thereof, and should ilea grantee or arty subse-
quent grantee trrrdtr sa.d conreyawce, who Ms assumed tM mortgage and irsdybtedness, be in defauh by valued • brexh d any of tM pravisioM
of th.s mortgage a the pora.ons of arsy assumption agretment w:M tlsQ mortgagee, whether a not said auwnpf:on -agreerrseM modifies the terms d
the mortgage and indebtedness. then and there(ae, the mortgagor hereby comenh to auumpt:en and the previsions d any assumption agreewsarst wiM
the mortgagee, and to any mod.f.cet.ons p1 the terms a prov:s:ora of the mortgage end indebtedness ocusiot+ed by said assserrpt:on agreerrsent and does _
fweher hereby grani the mortgagee the right to grant aatena:ans of Brno to said grantee witlaut rrW:f:tM:On of, w:tlatA Ilse consent d, end without affect-
ing the t:abhry of the a.ginal mortgagor, or any subsputnt mortgagor.
1~. Wlran any amount o1 morsel to be paid by the mptgagor b the rrsorlgagee under the terms fsertd shall be in defauh, a should the mortgagor
dehuh in arty of the attic. terms, povisions or conda:ons of the matgagt. then :n tMt use tM mortgagee sMll have ilea right, without notice to tM
morgaga, b collect and receive Irom any tenant a hnxe of said mortgaged pem:sts tl+e rents, issues and aofih of tlst real estate hereby nartgag.d
and the improvement thereon, and to gre proper rKe:ph and xgsrinances therefor, after paying all comrtrta:an of any rental agMt cdlect:ng the same,
end any reasonable anorneyi tees and other necessary e+penses :ncw.td :n cdkcting sense, to apply ilea proceeds d such tOllecfion upon any indebted-
ness, obtigetion a IubLq, of the mortgsgor hereunder. The rgM granted the mortgagee twsda this paragraph sheN tit in addition to, and tisaH not limit
or restrict, any aher right a nghts grained the ma/gagte :n this rrrortgage.
1{. TMt b the event the premises Mnby mortgaged, a any pert thereof. sMll be condewu+ed and taken for public use under tM power of eminent
domain, 1M Mortgpet shall Mre the right b de!nard that all damagts awarded (a tM tak:rtg of or damages ro wd premiws shah M paid to ilia
Mortgagee up to the amount then unpa.d on Mis mortgage and et tM option of tM Morspegoe may be applied upon Mee peymersla {eat payafyle tlsereon.
13. TM mortgagor bands h.mself not ro erect a permit to be erected arty new buildings on tM premises heein n+orgaged or to add ro or perrrrit
b a added b any of tM earstrrrg improvements thereon p make Msy charspes a alrerarions N said improvements which wrahrully d+arspe tM same or the
vac tlsareof, without the wrneen consent of tM Mortgagee, end in Mee event of arty viebtion or ethmpt b v:olah this atipubtion this ertortgege and all
ewws centred Mrsby shill .mrnsdiately become dw and collect:bla M Mee option d the Abrgpee. .
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f 11. h :a specifically agreed Mat tune w of the nsena d this corsnact and that its waiver d any obligation hentrrder a d tfte obligation soerrnd
t httreby tJ+ell at any r..rte be held b be • waiver of Mte 1wrrM hared M of Mee itsetruttterst sound Mnby.
17. If fwecbwro proceedings oI ersy second nartgage or secartd tnnr deed a any junior lien of sny kind should be imtinrhd, tM Matppee may,
at ite ept:on, immedutely a thereafter declare Hie nartgpe end ilea indfbrednefe eecurod herby dw end payable forthwith, and may at ih option proceed -
S is foreclose this mortgepe. .
11. Te tM •:tent o/ the indebtedness of ilia dlortgepor b tM Morgagee desuibed herein or secured hereby Mee A6oAgegee it kreby subrogated b
Ace lien a liens and to the rights of tM owren ersd holden tlsareof of each and awry wa.tgage lien a other incumbrana on tl+e land described herein
$ proceeds of Me ban desuibed Mre:n a secured
whid!s a paid and/a satisfied .n whole a :n pert out of Nre hereby, and Mre respective liarh d said
( rrsortgeges, flew a other incumbrances shell be end the sense and cads d Mem Iss.eby is preserved snd shill pass b and be held by Mee Aorgagee herein
w NKVriry fa the indebtedness ro 1M Mortgagee hereits dewbd or hereby tacwed, ro ilia same extent that it would haul been preserved and suesrW
haw been passed to and been held by tM Mortgagee hd it been duly and regulaly assigned, transferred, set over end delivered web ilia Abrtgagee by
sepereh deed of eu.gnment norwrthstand.ng the fact that' Mee sense may M satisfied and cancelled d record. it being tM intention d the parties lsereto
Meat Mee sans will be satisfad and cancelled of record by Nte holders thereof N or about Mee tirtre of Mee recording of this tttortgege.
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lf). To pay all acrd singular area costs, charges end a+perttee, wsclsndirtg lassryer's face, nesonably incurred or. paid Many time by tl+e Mortgagee,
i becww d ilea leihm of the Mortgagor ro perlcrm, comply w:M and abide by exh and every the st:pubt:ons, preensenh, oasditiorr, and Wwnanh d said
promissory nos and this deed, a either. and awry suds payments (hall bear interest ham Bah M the sarrse rah as the rnortgaga rsoh.
1M WITNESS WMEREOf, ilea said AAortgegor herewsb acts hIa head and seal Ilsis ilea tlwy and year first abeva wtritNta
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nod, seolad, aril delMred 'L.`". ISEAI)
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