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Home My WebLink About2103 - ~ . • ~ tender to ~he 'Mortgagee in accordance witl? the pe~o~aan~ of tl?e note secured liereby, [uU payment ot the ~ entire indebted~esa repreaented therabv~ the Mort$aa~s~ as lrustee, shall~ in con?puting the ~noun6 ot such indebtedaess, cnclit to tl?e account of t~~e Mortgagor any credi~ balance re~naining under t1~e provisions oI (a) ot said ~ph Z. 1~ there ahall be a detault under any ot the pmvisions of thia iaortga~e resulting in a public sale o the prernises covered herebv, or i~ the Mort.gagre 4cqutres the property otherwise after default~ the Mortgagee~ as trustee~ ahaU spply~ at ~he tiime o! the canmencement ot auch proc~edinga or ~?t ~he t~ime the property a oeherwise acquired~ the amount then nut~ining to credi~ of Mortgagor under (a) of pusgraph 2 I pceceding as ~ credit on the intereaC accrued and unpaid and tj?a balance to the principal then remuning unpaid ' on aaid note. ~ He wilt p~y all t~ces. aaseaement~, water rates, and ot~her aovernmeatal ot munieiPal ehae~ee, 6aa. oe i ianpoaitions, far w6iob provieion baa not been mads Lereinbetore, and in delwlt thereot tbs Mot'ti+~8~ m1Y WU? ~ ' rame; aad thaL bs wlll prompt~,y deliv~ the official reoeipts thenfor to We Mort~ee. ~ b. He will permiR oommit, or su8er no waste, impairaoeat, ot det~ioration ot e~id p`opezty or ypnrt thereot exoepti rascnsbk Near aad t~r• and in t6e avent ot t6s fulure ot tde Mortg~gor to keep t,he buildin~e on sai~ pcemiees and thoee to be erecte~ on said premiees, or improveaneata thereon, in good repair the Mortg~agee may make aueh repairs as in its discret~on it may deem neoeeeuy for tbe P~P~ P~ation tbereo~, aad tbe fuU ~mouat ot each and every suc6 payanen~ ahaq be due ~ad P~+Y~ ~Y ~ dte! demand, and ahall be eecund by t6e lien ot th~s a~ort~e. ~ 6. He will pay all snd singulas tLe oosta, charges, and e~cpenses~ includin6 nason~ble Lwyer's fees, and oost~ ot sbstr~cts of ticle, ineurred or paid at any Ume by t6e Mortdagee beosuse of tbe failure on the psrt of the Mort~~ + P~Ptly and fully to pertorm the agrcemeate and oovenants oi said promiaeory not~e aad thia mort~ge, and aaid ~ oosts. charges, and expensee abail be immediately duo aad psyabte and shsp be eecured by the lien ot tbis mort;,aga ~ us He aill oontinuousl~ maintaia hazsrd insuranae, oi such type or t pes and amounts as Mortgagee ms~ irom tima to time require, on Lhe improvements now or hereatter on eai~premisee and except whea payment ~ tor all such premiuma haa theretofore been made under (s) oi paragra,ph 2 hereoi 'he will pay promptly whea due any premiums therefor. All inauraace shaU be canied in compawes ~pprove~ by I~iortgsgee snd the poli- ~ cies snd renewata thereof shall be held by Mortgagee and have sttached thereto loas psyable cCauses ia iavor oi ~ aad in torm acceptable to L6e Mortgag~. In event oi loss he will give immedi~te notice by msil to Mortgagee, ' and Mortgagee may make prooi o~ Tosa ii not mada promptly by Mortgagor, and each insurance aompany o~ncerned ia 6ereby~ authorized and directed to make payment for such loss directly to Mortga~ee instead oi to Mortgagor aad Mortgagee jointly, and the inaurance proceeds, or any part tbereof~ may be applied by Mor~ , gsgee st ita option either to the reduction of tha indebtedneas hareby secured or to the restontion or repair of the property datna~ed. In event oi foreclosure oi thia mortgage or other transier of tiWe to the mortgsged property in extingu~shment o! the indebtednesa eecured hereby, a~l right, title, snd intereat of the Mortgagor ~ m and to sny inaurance policies then in lorce shsll pn9s to the purchsser or grantee. ~ 8. If Uie preinis~~s, or un~- purl ther~of, be rondetune~l under th~ power of eminent clomum, c,r acquirnd tor ~ a public use, tLe duiua~;e~s awarcied, il~~ pra•ec~is for the taking of, or the ~onsideration for sueh acquisition~ to ~ tl~e e!ctent of tl~e full an~ount of the remaining unpaid indebt~rlness serured b~• this u~ort~sRe, are 1?ercb~• assigned to ihe ~ion~aRee, uud his heirs or assiRns, un~l ~i~ull tx• paid forthwith to said ~tortga~;~e or his assignee to be applied on a~•i•ount of the last u~uturiuK install~~irnts of such indebtedness; pmvi~IPd, I?owcver, ; the `IortguKe~ ur his asSiKnee, ~~~a~ et his dis~•r~~tion pu~- dirert to tl~e Vlortgu~or, Lis 1«irs or nssigns any part ; or all of such a~ard; prov~decl, that if thc loan is Kuurant~e~l or insurea, the consent of tl?e guurantor or insurer ` is obtained in advance of seid pa~•~i~ent. z •9• T6e Moctgagee may~ at any time pending a suit upon t6ia mortgage, apply to the oourt having juriediction ' t6ereof for the sppointment of s receiver, and such oourt shall forthwith appoint a receiver of the premiaea oovered hereby sll a~d singular, including al! and singular t6e in~me~ proSte, issues, and revenues from wrhstever eource : derived, each and every of whic6~ it being expresaly understood~ ie hereby mortgaged ae if speci6cally set forth end described in the granting and habendum clsuses hereof. Such appointment ahaU be made.by such oourt ss an admitted , equity and s matter of absolute right to esid Mortgagee, and without relerence to the adequacy or inadequacy oi ` the value of the pmperty mortgaaed or to the solvency or inaolvency of ssid Mortgagor or t~e defendants. Such ' i renta, pro5ts, ineome, issues, and revenues shall be applieil by such receiver according to the lien of thia mortgaga ` ! and the practice ot euch oourt. In the event of say default on the part of the Mortgagor hereunder~ the Mortgagor ~ Agreea to psy to Lhe Mo on demand aa s reasonable monthly rental for the premiees an amount at lesat t equivelent to on~twelfth (~sj of the aggregate of the twelve moathly installmente payable in the then current ~ year plus the actual amoant of the snnual taxes, asee~sonents, water rat~a, and inauranoe premiums for such year ; not oovered by tbe etoresaid monthly psymente. o 10. In the event of any b-eac6 of thi~ mortgage or defaWt on the part of the Mortgagor, or in the event thsti ~ any of said sums of money 6et~ein referred to be not promptly and fully paid according to the tenor hereof, or in the , event that eacb snd every the atiptilations, agreementa~ conditione~ and covenanta of esid note and this mortgage are not duly, promptly, aad fully pedormed; then in either or any such event, the said aggregate aum mentioned ia said note then remainina unpaid, ~rit6 interest accrued to that time, and all moneya secured hereby, ahaU becwme due snd psyable fortbwith, ar thereaiter, at the option of said Mortgagee, as fully and completely aa it al! of the eaid ~ of money were origtnally etipulated to be paid on such day, anyLhing in said note or in this mortgage to the oontrary notwithstanding; aad thereupon or thereafter~ at the option of said Mortgagee, without notice ~r demand, suit at law or in equity, may be prosecuted as if aU moneys secured hereby had matured prior to its inatitu- ~ tion. The Mortgagee may foreclose thia mortgage, aa to the amount eo dectared due and payable, and the said premiees ahall be aold to satiafy and pay the same wgether wit6 co~ste, expensea, and allowances. In csse of partial ~ foreclosure of thia mortgage, the mortgaged premisea shall be eold aubject to the oontinuing lien of this mortgage for tLe amount of the debt not then due aad unpaid. In auc6 csee the provisians of thia paragraph may again be svailed of thereafter from time to time by the Mortgagee. 11. No waiver of any o~venaat herein or of the obligation secured hereby ahaU at any time thereafter be held ~ to be s waiver of the terme 6ereof or of the note eecured hereby. ~ 12. The lien oi this inscrument ehall remain in full force and effeet during any poatponement or e~ctension of - ~ the tirne of psymen~ d the indebtednees or any part thereof eecured hereby. ~ 13• If the Mortgagor default in any of the oovenanta or agreementa contained herein, or in eaid note~ then the ~ Mortgagee msy perform tbe eame~ and aU expenditures (including resaonsble attorney'e feea) m~?de by the MortgaRee ~ in so doing shall drsw interest at the rate provided tor in the principal indebtedness~ snd shall be rnpayable , ~ thirty (30) days after demaad, and, together with interest and costs accrued thereon, shall be secured by ~ thia mortgage. ~ 14. Upoa t6e request o! the Mortgagee the Mortgagor ahall eaecute and deliver s supplemental note or { ~ notea for the aum or sums sdvanced by t6e tiiortgagee for the alteration, modernization, improvement, msin- tenance, or repai- of said premises, for taxes or as.Qessments against the same and tor any other purpose au~hor- i ~ ized hereunder. Said note or notes shall be secured hereby on s parity with and as [ully as it the advance ev~denced thereby were included in the note first described sbove. Said supplementat note or notes ahall bear interest st t6e nte provided for in the principal indebtedness and shsll be paysble in ap proximately equal monthly payments for such period ss mey be agreed upon by the creditor and debtor. Failing to agree on the maturity~ the whole of the sum or sums so sdvanced shall bc due and payable thirty (30) days after demand ~ by t6e creditor. In no event shall lhe msturity extend beyond t,6e ultimate rsatwity o( lhe note first dacribed above. - R,.~K 31? ;E 2101