HomeMy WebLinkAbout0739 a. To permit, commit or suffer no waste, impairment or drtrriuratiun of safe) pn,prtty or am• part thereof.
S. To pay all and singular the costs, charges and expenses, including reasonable L?w}•rr's fees and cost of ahstr.?cts of
title, incurred or paid at any time by said Alort};ager because and/or in the event of the failure un the part of the acid
,,Vortgagur to duly, promptly and Cully perform, discharge, execute, effect, a?mplete, comply with and abide by e.?ch and
every the stipulations, agreements, conditions and covenants of said promissory note, and this mortg.+gr, .?m or rithrr, and
said costs, charges and expenses, each and every, shall br immediately due and payable, whether or not there hr notice, de-
mand, attempt to collect or suit pending; and the full amount of each and every such payment shall bear interest from the
date thrrrof until paid at the rate of ten per crntum per :uutum; and all said costs, chargra and expenses su incurred ur paid,
together with such interest, shall br sccurrd by the lien of this mortgage,
G. That (a) in the event of any breach of this mortgage or drLiult on the part of the .Mortgagor, ur (h) in the turn[ any of said
sums of money herein referred to br not promptly and fully paid within ten days next after the s:unc• severally hecomr due, and
payable, without demand or notice, or(e) in the event rash and every the stipulation, agreements, conditions and covrnanta oCs,?id
promissory Holt and this mortgage, any or eithrr,are no[ duly, promptly and fully prrfornted, discharged, executed, rffrctcd,
completed, complied with and abided by, then, in rithrr or any such event, the said aggregate sum mrntiuncKl in said promissory
note then remaining unpaid, with interest accrued, and all moneys sccurrd hereby, shall hecomr due and pa}•ablc• forthwith, or
thereafter, at the option of said ~lortgagce, as fully and completeh•asif all of the said sums of money wrrc originally stipulated to br
paid on such day, anything in said promissory note, and~or in this mortgage to the contrary notwithstanding:; and thereupon or
thrrrafter at the option of said Alortgagrr, without notice or demand, suit at tact, or in eyuity, thrretufore, or thrrr.?ftrr begun,
may be prosecuted as if all moneys secured hrrrby had matured prior to its institution.
7. That in thr• rennt that at the beginning of or at any time pending any suit upon this mortgage, or to forrclosc it,
or to reform it, and,'or to enforce payn7ent of any claims hereunder, said .,\turtgagre shall apply to the court haying jurisdiction
thrrrof for the appointment of a Receiver, such-court shall forthwith appo7nt a Keceiver of said nu7ztgagrd property all and
singular, including all and singular the trots, rncomr, profits, issues and rrvrnur•s from whatever sourer derived, each and every
of which, it bring expressly understood, is hereby mortgaged as if sprcifica{ly set forth and described in the granting and
habendum clauses hereof, and such Rrcrivrr shall have all the broad and c ffrctiyr functions and powers in am•wisr entrusted by a
court to a Receiver, and such appointment shall be made by such court as an admitted ryuitc and a matter o} absolute right to a:?id
~tortgager, and without reference to the :ulcyuaq• or inadequacy of the salve of the property nwrtgaged or to the solvency or
insoh•ency of said Mortgagor and%or of the defendants, and that such rents, profits, income, isaurs and rerrnura shalt br applied by
such Receiver according to the lien anJ:'ur equity of said 1lortgagre and the practice of auch court.
8. In the es•rnt the jurisdiction of the L.S. District Court ahall bc• invoked by or against the Uortgagor urdcr any of
the provisions of the Federal Bankruptcy pct, such .?ction, w•hrther voluntary or involuntary un the part t,f the ~lurtgagur,
shall automatically, without notice, acce•lrrate the maturin• of all sums of money herein described and sccurrd and the name
shall thereupon hc•come due and payahk• forrhw-Ith as fulh• ac i(rhP caul agE~n•gat?- sums of nx,nrs• wrrc onginalh• ctipulatrd
to he paid on such date.
9. To drlivcr to a,?id \lortgagre on or before March I Sth of rash year, tax receipt: ryidrncing the payment uf,?Il lawtulh•
imposed taxes for the preceding calendar year, and to drlivcr to said \lortgagre, receipts ry:drncing the payment of all liens
for public improvements within ninety (90) days after the same shat! become due and pa}'abir, and to pay or disch.rrgr within
ninety (90) days after due date, any and all goyrrnmental Ircies that may be made on the nuirtg.Igc•d property, on this \tuzteage
ur \ote, or in am• other way resulting from the Mortgage indebtedness secured by this \lurtgagr; and if this condition be not
complied with and performed, said \lortgagrr may pay suchsum or sums which shall hecomr part ut the debt sccurrd by thin \iort-
compliedwith and performed, said \lortgagee m.?y pay such sum or sums which shall hecomr part of the debt sccurrd by this ~turt-
.gageand shall bear interest at the default rate prrn•idrd in said promissory \ote payable, numthls• until paid oz acid \lo: [gager n7ay
elect that said Jtottgage deb: thereupon hero ::r due and payable furth..•ith.
_ ]O. If all or an} part of the property or an interest therein is sold or transferred by ~lortgagagor without \lortgagrr•s
~ prior a•rittrn consent, excluding (a) the creation of a Lien or encumbrance subordinate to this \tortgagr, (b) the creation of a
i
purchase money security interest for household appliances, (c) a transfer by devise or descent, or by operation of law upon the
death oCa joint tenant, or (d) the grant of any leasehold interest of three years or less nut containing an option to purchase, ~lurtga-
~ gee may, at its option, declare all the sums secured by this Jortgage to br immrdiatrls• due and payable, \lortgagre shall have
waived such option to accelerate if, prior to the sale or transfer, Jtortgagre and the person to whom the property is to br sold
or transferred reach agreement in writing that the creditof such person is satisfacton• to ~lortg:?gerand that thc• interest pas•ablc•on
the sums sccurrd bs- this mortgage shall br at such rate as ?1lortgager shall request.
11. That in the event the premises hrrrby mort}.agrd, ur ans• part thrrrof• shall hc• condemned and t.tke•n t~lr public oar
under the power of eminent domain, the \lurtg:?grr sh.711 has•r the right to demand that all d.:rn.Igrs awarded f~,r the taking of or
dar;lagrs to said prrmisrs shall br paid to the t~turtgagre up to the amour_t then unpaid on this \tortgacr :?nti at the t~ptiun t,(thc
~lurtgagrr may he applied upon the pa)•nu-nts l,nt pasablc• thereon.
12- Thr \lottgagur binds himself nut to rre-ct ur permit to br emrtrd am- new huild:ngs un the ptcnu~rs herein murtCaCe•d
or u, add to or permit to br added u> any of the c•xisrsng :mpnls•rmrnts thereon ur make am ch.Inge•s ur altrratums ir. said
in:ptoyrments which matenally chan}:e• the same or the use thereof, wuhout the writ ten rt:nsrnt of thc• :dortc.ts,re•, ,end :r. the cs-cnt
ur any yiolauon or attempt to s•iul"ate thin stipulation. this Vortgagy and all sums sccurrd he•: rby sh.7i1 i:r.nle•d:.! tris- be-t umc ti:;r and
rolle~tible at the option of the ~loztga~e•r.
l i- It is spccifiraily agreed that tlrnr is of the essence of this \Iurtgagr and that no w.ucrz t,f .?ny uhl:gatn,n hczcundcr or of
the ubli~;,uion sccurrd hereby sh.t11 ,It any time be held to be a w-an•rr crf the terms hereof t.r ut thy :mr.::n:ent .cr ure•d hcn-ilc.
- 14- Itfon•closurrproccrciir.gaofan)'srumdmurig.rgrorsernndtrustdre•due.lns;nn:~,:L•t•t:ut.u:li:illcishtn:ltihen:~tautrti
rhr \lortg.ty;rr may, .it ih opuun. imnle•di.rtrls• o: thrrraftrr dreLue this \lo: tg.Igc and the :nCchtctinc~. sr. un•t: hc:chc eie:c .Ind
p.?cable Gnthw•Ith, and may at its option pnrcrrd to foreclose this rnurtgage.
: S. 'I-u the c•xtcnt I:f rhr mdrbte•dne-ss of the \lortg,:gur to the Jtiutcagcr dr«nilcd i7crrus or .ce crt-ti }ta-rrhr the ~l•,ztL.!>•c•r
is },.•Tehs• ct•flft .l•.7 (r~.7 t1,.. 7, t-...... •-••.7 ,t..l. .1. . •1 /)'A'f ir: a.aiia: il„1,i t': ~ llll'1 ~~.1 ~.1 I1 .11: ~i r~ l:l ill/ ~S iL•I~r Zirtl l other
~ erlcumhrance• un the sand tiexr:be•d he•rc:n which Is paid and or s.?taiied in w•hulr or :n ~ art out ut the pnue~,is ut tin lu.u7 de•~
~ cribc•d hrmin or sccurrd hrrrby and the rrspretis•c hens of said \lortgagcc, hens ur other e ni t:rlhr.Inrc. sh.tll he :+nd rhr s•I:nr .tnd
each of them hen•l;y Is prrsrn•cd and shall pass to and he held by thc• ~turtg.tce•c he rrln as .c•. u: in- cur rhr indrbtrc:nc•ss to the
~ Jlortgace•c hrrrtn drsr shed or herrbs srr acrd. to the ~anu• extent that it w•uuh} has•c i,rrn pzr~crce•d and wuuhj h.n-c }~e•: n ~l.t.~r.}
ti, anti been he•!d he rhr \lnrtgagce• h.Id tt herrl7}ulc.lnd rrgutarly .tssit;ne-d, tran~trrred. sett rr .tot'. tir;iyrrcd :oat ~ tin- \1t tC.tcrr
r' by se•paratr de•rd t,t .rsslgnment notw•ithstandinF rhr fart th.It the, same m.n• he •.ar~he.i and cance•llcd u! rctunl. a ix•:ri the
Intcnnun of the l..Irtirs hereto that the •.trnr will hc• ~arsflc•d .?nd lance jlyd ut record by tltr ho'tir:~ thrrcot at ur ,[bout the
;tnu• u! rhr n•cuninlg ut this ~lurtg.7~c•.
,'-{3i8 F~~E 738