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Home My WebLink About1390 ` ~ l--. _ - - - - . _ To permit, commit or suffer ao waste, impairmrnt or deterioration of said property or any part thereof. 3. To pay all and sirtgutar the toss, charges sttd expense;, includir~ reaaonabie 4wyei a fees sad cost of abstracts of title, incurred or paid at any Nme by acid Mortgagee because aad/oc in tF.e eveat.of the failure oa the port of the said Mortgagor to duly, promptly sad fully ptrform, d+scharge. execute, effect, complete, comply with and abide by each sad every tl?e stiputatiot?s, sgreemenp, cotxiitioas sad covenants of std pro~ttissorr note sad this mortgage. say or either. and . -said coax, charges :rd expenses,- each sad every. shall be intgnediately due tirtd payable, whether or sot there be notice, de- trtsad, atteanpt to collect or suit pettditt& and the lull aenpvnt of each sad every wch payment shall beat interest from ttte date thereof until-paid. at the rate of tea pee ceatum per aetattm; and all said coats. charges sad expenses so iaeterred or paid. together with such interest. shall be secured by the lien of this aartgage. - 6. That (a) is the event of say breach of thin mortgage or defiuls on she part of tpe Mortgagor, or (b) in the event say of said sums of taoney ttgtelet ereferred to be eat promptly sad fully paid with=n tend:its next rites the sane sevsnUy beconu d•~e sad • payabiq ttrithoutdemud or ratite, or (c) in the event each sad every the stipuladoa, agreetaeats, cotditioas and covertaats of said promissory note sad this atortgsgs, any ar either,are sot duly. Promptly and fully pc~ttuttttfd, di~ltiarged, executed. effscted, . completed, complied with sad abided by. thee. is either or say such event. the skid aggregate awn nxatioaed in said promissory ' note then remaining unpaid, with interest accrued, sad a!t atoaeys secured hereby. s:.sU become due std payable farthw~tb, or thereafter, at tbeop~tionofsaidMortgagee,asfullyaadcompletelyasifalloftheaaidsumsofmoaeywetsoriginallystipula~edcobe paid oa such day, saytbtag is said promissory note, sadlor to this morKpge to the contragr tatwithstanding; and thereupon or thereafter at the option of said Mortgagee, without notice os demand, wit at taw or in equity, theretofore, or thereafter begun. may be pcaaecnted a if all awntys secured hereby bad matured prior to.ia institution . 7. That m the event that at the bKginaing of or at say time pending :nq suit upon this mortgage, or to foreclose it. - oc to reform tt, and/or to enforce paytaeat of any calms he ef, said Mortgagee shall apply to the court havir~ jurisdiction thereof for the appointment of a Receiver, such total shaUrthwith appoint a Receiver of said mortgaged property all std dngulat; inchtdias all sad sistg» lu the teats, income, proRts, issues and revenues from whatever source derived, each and every of wbicZy it being expressly understood. is hereby mortgaged as if speciElaUy set forth sad descn'bed itt the granting and . habendutn clsttses hereot7 sad such Receiver shalt have all the broad sad effective functions and powers is anywise entrusted by a edurt to s Reoetver, sad such appointment shall be made by suck coast as as sdrattted equity sad a matter of absolute right to said Mortgagee, sad without refertaee to the sdequat.~r or inadequacy of the value of the property mortgaged or to the solveac~ oc itaohreacy of said Mortgagor and/or of the defendartes, a~ that such rents. prmits, income. iswes sad revenues shall be applied by - wch Receiver according to the lien and/or equity of said Mortgagee ud the practice of such court - 8. Its the event the jurisdiction of the U.S District Court shall bt invoked by or against the Mortgagor tinder say of the provisions of the Federal $ankruptcy Act. such action, whether voluntary or imroluaraq on the pare of the Mortgagor; shall automatksUy, without notice, accelerate the maturity of all sums of money herein described sal secured and.the same - shaU thereupon become rise sad payable forthwith as fully ss if the said aggregate sutras of money were originally. stipulated • to be paid on such dace. . 9. To deliver to said Dortgagee on or before Eiarch i S th of each year, tax receipts evidencing the payment of aU~awfuliy . ~P~ €o~ ~ F~ akadar year. and to deliver to said )Iortgagee, receipts etNdendnit the payment of all ~ ~ for public improvements within niaeg (90) days after the-same shall become due and payable, sad to pay or discharge vithia aiaeq (90) days sleet due date, any sad ail governmental levies that may be made on the mortgaged property. oa this Mortgage or Noce, or in say other way rewlting from the Mortgage indebtedness secured by this Mortgage, sad if this condition be not complied with and performed, said Mortgagee may pay wchsum or sums which :ball become part of the debt secured by this Mort eosplied with and performed. said Mortgagee may pay writ sum or wms which shall become part of the debt secured by this Mort -,gage and shall bear interest at the default tau provided in said Promissory Note payable monthly until paid or saia l?iortgagee may elect that said Mortgage debt thereupon became due and payable forthwith. _ 10. U all or any part of the property or an interest therein is said or transferred by Mortgagagor without Mortgagee's - prlor written consent, escludiag (a) the creatroa of s lien or cncwaSrance wbordinste to this Mortgage. (b) the creation of a- . purchase money security interest for 6ouselald appliances, !c) s transfer by devise or descent, or by operation of Iaw upon the death ofa joint tenant, or (d) the Grant of any kasthold iaurest ofthree years or less aotcontainiag as option to purchase, bfortga- _ gee may,-at its option, aeclare all the sums secured by this Mortgage to be immediauly due sad payable, Mort~gee shall have waived sttcb option to accelerate if, prior to the rile or transfer, ldot>;agee sad the person to whom the property is to be sold or transferred reach agreement is writing that the credit ofsuch person le antis-fYctory to Mortgagee and that the interest payable on the sums secured by this mortgage shall be at web rate as Mortgagee shall request - - 1 i. That in the event the premises hereby mortgaged. or any put thereof, shall be cotdtmned and taken for public use • alder the power of eminent domain. the Mortgagee shall have the right to demand that all damages awarded for the taking of or damages to said premises shall be paid to the Mortgagee up to the amount then unpaid oa this 1lforigage and at the option of the Mortgagee troy be applied upon the p:ytnents last payable thereon. 1 Z. The Mortgagor Sitcda hitase_ If not to erect or permit to be erected any new buildings on the premises herein mortgaged ` or to add to or permit to be added to any of the existing improvements thereon or make any changes or attentions in said improvements which materially change the same or the rise thereof, without thewritten consent of the 1ltortgagee, and in the e~: ent ofanyviolacionorattempttovtolatethisstipulation.thisMortgageandallsumsstcuredherebyshaUimmeducelybecomedueand - rnUecttbte at the option of the Mortgagee - - j 3. It is specifically agreed that tint is of the essence of this iltartgage and th:t no waiver of any obligation hereunder or of - the obligation secured hereby sha!! at any time be held to be a waiver of the terms hereof or of the instrument secured hereby. l~L. ffforecloaureproceedingsofanysecondmortgage•orsecondtrustdeedoranyiuniorlienofan) kindshouldbeinstituted the bortgagee may, at its option, immediately or thereafter declare this Ator:gage and the indebtedness secured hereby due and payable forthwith, and may at its option proceed to foreclose this mortgage ~ _ 1 s. '''o the extent of the indebtedness of the Dtottgagor to the Mortgagee described herein or securett tereby the 1lioscgagee is hereby. s~ibrogated to the ilea orliens and to the rights of the owners and holders thereof ofeach and every mortgage lien ur other } -encumbrance on the land descnbed herein which is paid and/or satisfied in whole or in part out of the proceeds of the loan des- ~ cribed herein or secured hereby:ad the respective liens oEsaid lltorcgages, liens or other encumbrances shalt be and the same and each ofthem hertby is pr:serred and shall i~ to and be held by the Mortgagee herein as security for the indebtedness to the Mortgagee herein described or hereby secured, so the same extent that it would have been prrsen eel and would have barn passed to and been held by the Mortgagee had it been duly sad regularly assigned, transferred, set over and delivered unto the .~tortRaRee by separate deed of assignment notwithstanding the fact that the same may be satisfied and cancelled of record, it being the intention of the parties hereto that-the same will be satisfied and cancelled of record bv_ the holders thereof at or ahot:t the 1 -time of the recordieg of this Mortgage. _ - _ - - - _ - - ec~~ic~~ PAGE~~ sco c t~2; ! • - -