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Home My WebLink About2093 ' t t,eader to the Mortgsgee i~ accordance wit,h the pro~ieions o[ ll?e note aecured l~ercby. tull paymen~ of t~he entire indebtedneea reprc+eented therebv~ the Mottgagce, as tnwtee~ aha11~ in computing tl?e ainount oi such indebtedness~ credit to ll~e account ot ll~e Mort~~Ror any credit balance re~n~ining under t}?e proviaiona o! (a) oI asid ph Z. l~ there shall be s detsu t uoder any ot the pmvisions ot this uiortga~e reaulting in ~ ae public sale o the premieea covered herebv, or it the Mortgagee acquires the property otharw~ae after det~ult. the Mortg~ge~e~ as trustee~ shall ~pply~ a~ the time of the coinmencement ot euch proceedings or at tl~e time the property r otherwise acquirecl~ the amourit then re~naining t,o credit ot Mongagor under (a) of pangnph 2 preceding aa a credit on the interest sccrued snd unpaid and t~~e batance to the princip~l then remaimng unpud on said note. 4. He w1U psy all taxae~ aaeeeementa, watAe nta~ ~nd ot6er ¢overameatal or municiPal c6arge~. Hne~, o~ impoe~tions, for whieh provieion haa not been made heninbetore, ~ad m detault theceo~f Lhs Moet~6~ ~ P4Y ~ ~amie; and tba! bs will p~romptl~r ddiver !6e og'iaal reoe~pte tbee~etor to tbe Mortg;~ea b. 8e wiU permit~ oommit, or su6er no wast,e, impairmeal. ar deLeiiorstioa of eaid pe~operty or any par~ lhereot ~oept rasor,abk Mear and teas• aad in tbe eveat of t6s fa~lure of tbe Mortg~gor to keep t~he buildin~e on eai~ preoniees r?nd t~hase to be ercete~ on eaid pnmiees, or improvemenLe t6erooa, in ~ood npair tbe M ma mske snch npairs as in it~ discnt;oa 1L may deem neoeee~ry for the pmper prescrvatioa thereo# and the i~~u~U a~anoua! ot eac6 aad every sucb p~yment ehall be due aad p~?yabls thirtY (30) d~y~ after demaad, and ahall be secured by the liea of t6i~ mort~e. 6. He wjll pay sll snd einsulu the ooeta, and e~cpenses, includin6 reae~nsble L?wyer's feee, aad oost~ ot abskacts of t~tle~ incun~ed or paid at any time try~e Mortgaaee becauee ot the Isilure on the gut ot the Mo~gago P~'omPtly snd tully to per[orm tbe agrcements and aovensats of said promieeory note aad thia mortg~e aad r ooste, ohsrges, and expenees ehall be immediately due and psysb~ snd s6sll be secured by the lien of thia mortg,aga T. Ha will oontipuo~ tpsiQt4in hezud inaursnoe, of euch type or t~pes and amounta as Mortgagee may trom tima to time requlrs, on L6e improveanente now or hereaiter on said premises and exoept wden payment tor all such premiuma ba8 theretofore been made under (a) of psragcaph 2 hereof ~e will pay prompUy when due any premiums tharefor. All inaureuce ahall be carried ia companies spprove~ by biortgagee and t,6e poli- cies aad renewals t6ueof shall be held by Mortgagee and hsve attached thereto losa payable cteuaee in favor oi and in form acceptabla to the Mortgagee. In event oi loss he will give immedist~e notice by mail to Mortgagee, and :Nlortgsgee may meke prooi o7 Toea ii not made promptly by Mortgagor, and each insurance eompsny ooncemed ia hereby~ suthorized and d'uected to make payment for such lo~s directly to Mort~a~~ ~t~ead oi to Mortgagor and Mortgagee jointly, snfl the inauraace proceeds, or any part thereoi, msy be app7ied by Mor~ gagee at its option either to t6e reduction oi the indebtedneee hereby eecured or to the restorat~on or repair oi the property dains~ed. In event of foreclosure of this mortgage or other transfer oi title to the mortgaged property in ext.ingu~shment of the indebtedness eecured hereby, a~l right, tiUe~ and interes~ of the Mortgagor m and to any inaurance policies Wen in force ahsll p~ss to the purchaser or gnntee. 8. If thc preu~isi~s, or on~- purt ihcrnuf, be c•on~le~uned under th~ power of emin~nL dm~~u~n~ or acquircd for a public use, tlie dnii~aKPS awarded, thi~ pro~•eeds for the taking of, or the ~onsideration for suc~L'acquisition, to. tl~e extent of the full amount of the ren?aining unpaid ind~bte~lness sec•urnd b~• U~is mortgaKe, arr licreb~• assiKned to tlie ~fort~s~ec~, an~i I~is heirs or assiKns, und shall tx• paid fortt~wiih to saici ~iortga~;~c or liis assignee to tx• applied on acrount uf tlie last n?nturinK installn~euts of suc•h indebtedness; provided, how~ver, the `~ortguKee or l~is ~ssignec~ ~uur ai I~ia discrMion pa~• clirn~•t to tLe ~iorlgugor, his l~eirs ur assigies an~ part or all of such aw•anl; provulecl, that if the loun is Kuurnnte~ci or inswed~ the eonsent of the guurantor or insur~r is obtaineJ in aclvance o( said pa~•ment. 9• The Mortgagee may, at any time pending a suit upon this mortgage, apply to the oourt having jurisdiction ' thereof fos the appoiatment of a receiver, and such oourt ahall fort6with appoint s reoeiver of the premis~s oovered hereby all sad singular, including all snd singular the income, pro6te, iseues, and revenuea from whatever eource derived, each and every of which, it being expresaly understood~ is hereby mortgaged se if apeciScally eet forth and deecribed in the granting and habendum clau~es hereof. Such appointment ahall be made by suc6 oourt se an admitted equity and s matter of absolute rig6t to said Mortgagee, and without reference to the adequacy or inad uac of ' the value o! the property mortgaged or to t6e solvency or inaolvency of said Mortgagor or t.tie defendant~e. Such ; ' rente, profita. ino~me, isaues~ and revenuea ahatl be spplied by such receiver acoording to the lien of this mortgage ) ~ and the practice of such oourt. In t6e eveat ot any default on the part of t6e Mortgagor hereunder~ the l~iortgagor ~ C agrees to pay to the Mo on demand se s reasonable monthly rental for the premisea aa amount at leaat ~ equivalent to one-twelfth~of the agg~gate of ttie twelve monthly inatallmente payable in the then c~rrent ; year plus the ~ctual umount of the snnual ta~cea, sseessments, rvater rstes, snd insursnce premiams for euch year 2 , not oover~ed by tbe sforeesid montWy paymente. } } 10. In the event of any b*each of thia mortgage or default on the paet of the Mortgsgorf or in tbe eve~nt thAt sny of eaid aume of money herein referned to be not promptly and fully paid sccording to the tenor 6ereof~ or in the ~ event that each and every the atipulationa, agreements~ conditions, and covenanta of said note snd this mortgage, ~ are not dnly, promptly~ aod fully pedormed; then in eit6er or any such event~ the said aggregate aum mentioned ~ in eaid note then remaining unpaid, with interest accrued to that time, and all moneya secured hereby, shall become due and payabk forth~vith~ or thereafter, st the option of said Mortg,agee~ as fully and completely ae it all of the - esid aume of money ~ven origiuiully stipulated to be paid on such day~ anything in said note or in this mortgage to the contrary notwithatanding; and thereupon or thereaiter~ at the option of said Mortgagee, without notice or demand, suit at law or in equity, msy be pro~ecuted sa if all moneys eecured hereby had matured prior to its institu- tion. The Mortgagee may foreclaee this mortRage, as to the amount ao declared due and payable, and the said premieea shall be sold to satisfy and pay the same together w;th casta, eapensea, and allowances. In caee of partiai foreclosure of • thia mortgage~ the mortgaged premises shall be sold subject to the continuing Gen of thia mortgage - for the amount of the debt not then due and unpaid. In aucb caee the provisions of thie paragsph may again be svailed of thereaiter from time to time by the Mortgagee. 1 I. No walver ot any oovenant 6erein or of t6e obligation aecured hereby ahall st any time theresfter be held ~ to be s wsiver of the terms hereof or of the note eecured hereby. ' ~ ~ 12. The lien ot this inatrument ehall remain in full force and etiect duri ~ the time of psyment ot the indebtednese or any part t6ereof eecured 6ereby, ~~y ~tponement or extenaion of 1:3. If the Mort~agor default in any o! the oovenante or agreemente contained herein~ or in esid note, then the Mortg,aget msy perform the eame, sad all expenditures (including reasonabk attorney's feea) made by the MortgaRee ~ in so doing shall dnw interest st the rate provided for in the principal indebtednc~ss, and shall be repayable ~ thirty (30) dsys after demsnd, and, together with interest and costs accrued thereon, shall be secured by ~ thia mortgage. - l4. Upon t6e rec{uest of the Mortgagee t6e Aiortgagor shall eaceeute and deliver s supplemental note or a i notes for the sum or sums advsnced by che ~tortgagee for the alteration, modernization, improvemcn6, main- tenance~ or repai- of said premises, tor taxes or as.Qessments against t,he same and for aay other purpose suthor- ' ~ ized Lereunder. Said note or notes shall be-secured hereby on s parity with and as fully as if the advance evidenced thereby wen included in the note first described above. Said supplemental note or notes shall bear intereat at tLe nte pmvided tor in the principai indebtedness and shall be payable in ap proximstely equal - monthly payments for such period as msy be agreed upon by the creditor and debtor. Failing to agree on the msturity, the whole of the sum or sums so advanced shall be due and paysble thirty (30) days af~er demand ~ by fbe creditor. In no event shall the maturity extend beyond the ul~imate raeturity o[ tLe note firat dacribed above. h~'{+~~~ Par,E~~ ~