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Home My WebLink About1459 _ ~ _ . ~ ~ - , ___-~s.~.. -~_w ~ _ } .e t 1 ~ ~ tender to the °~dottgag+ea in aooordancs witl~ the prrvisiota o[ tl~e Holt securod l~erebv, full pay anent of the satire indebtedness tepreeented therebv, the Mortgagee, ss trustee. shall, in oon~puting thr~ tuuount of suct~ indebtedaasa, crndit to the account-of the Mortgagor any credit bslanas remaining under rho provisions of (s) of said p~ra~raph Z. 11 there shall be a default ender am o[ tl?e provisions o[ this mortgage resultu?~ in a - publio sale of tha.pr~emises covered hereby, ar if t.':~ Mortgagee acquires the property otlietw~se aftbs default, the Mortgages, as trwtee, shs11 apply, at the time of the conuneacea?ent of such proceedings or st tl,e time the property w otherwise acquired, Ehe amount then reu~ainiag to ered~t o[ Mortgagor under (a) of paragraph. Z pisosdwg as s cted~t on the. interest acerued and unpaidaad the balance w the principal then remair?iag unpaid on said note. - 4. He wlll pUr aH tsioes. aaseasoaeeq, water rates, and otb~er ~veramental oe muaiOipal charges, ~Soes? oe smss; sn~d tti L M-will pe~om~ pt~j? ~r~ee o~ rapt dhe efo~t to ~ the DdoetPjes rnt~ pslriis 6. -He sill pMtmit, ooooasit, or suffer no waste, impaira~eat, or deterioration of said pt~operty at theeeol esaept reaeonabk.waat and tear and is the-evrot aE the faaiillure of the Mortgagorr to ~ the bu~ on aald ptemisee and thas~ to ba et+eete~ on said pre~aaisu, oar lmpe+ovemeats tbe~reon, in rood repair --t~ha Mort~es may toaka ntoh rspalrs ss Ls its diseretioa it myr dxm neoesisary for the proper preaarvatioa tbar~so!{ and the full aLnoust - - of each and svegr such ps?ymeat shall bs due and payable thlrgr (80) days attet~ demand, aa~ shall bs aeou:+ed bnr the Ilea of this dwrtpage. d. Ns will pay all sad singular the ~ sad e:peaaes, induding reasoosbls Lwyer'a fees, sad coals of abstraetas at this, iaourred or paid st say time t?y the Mort~ee beawee of the tailors oa tl~e part of tba MAOrt~~oe promp~t~y and fly to perform the agreemments sad eoveaants of said prooAirsoey note and this ooats, charges, and espsoses sha8 bs uamediate~? dos and payable and ehal! be eeaured by the lienpui~mortg~e. 7. Ile aiD voatinuoua~ maintaaa hasard iasuraaoe, of such type or tomes and amounts as Mortgagee may from time b time require, on the improveenes<ts now or hen+aiter on said prs~n~s~ and esoept wLen p~msat -tor all such premiums has theretofore been made under ~(a of haregrsFh 2 heroaf ha will pay promptly when due say premiums therefor. All insurance shall be crtried in oompawes approve by M rt~~e and We poli- cies and renewah thereof shall bs held ~>M~Q !gages and have attached thereto loss payabo le cTai~es in favor of sad in form aooeptabk to the M event at lees ha will give imaiediste notice by mail to Mortgages, sad Mortgages may make proof o it not made promptly by Mortgagor, and each insurance oompag7 oonceraed is her'eb authorised and directed to make payment for such lease dir+ectiy to Mortga~gee~ins~ M~i - to Mortgagor and ~ortgagee jointly, sad the insurance pmrxeds, or aqy part tbereoi may be a li gages at its option either to the reduction wi the indebtedness hereby eecwrsd or to t~e reston4on or re the property dammed. In event of foreclosure of thinmo or other transfer of title to the rnortg~ag d propertj to extiagu~shment of the indebtedness secured hereby; alt tight, title, sad iatereat of the Mortgagor - m and to any insurance policies then in fot+ee shall p+isa to the purchaser or gnatae. - _ 8. If the ppreu~ises, or and= part thereof, be condemned-un~{er. the po~irer o[ eminent dauam, or acquired !or a public use, the damages awarded, the pror~erls [or-the. !alongg ot, or the consideration [or~such acquisition,- to - the extent of the lull arnoant o[ the remaining unpaid indebtedness secured by this mortgage, are liereb~ assigned to the Mortgagee, and- his hews or ass>~~s, and shall lx? paid- [orthwith to said Mortgagee or hta ass~nee to be applied on account of the lest matunnK installments of such indebtedness; provided, However, the 1Liortga~e or his assignee, enay st his discretion pay direct to the Mortgagor, has heirs or assigns any part - or all of surf sward; provided, that i[ the loan is guaranteed or insurer!, the consent o[ the.guarantor or insurer - is obtained in advance o[ said pad meat. - 9- The Mortgagee may; st any time pendin6:suit upon this mortgage, apply to the sour: having jurisdiction - thereof !or the appointment of a receiver, and such court shall forthwith appoint s receiver of the premises covered hereby? all amd singular, including aq sad singu4r the income, profits, issues, sad revenues from whatever source dewed, each acid every of which, it being expressly understood, is benby mortgaged ss if specifically sEt forth and described in the granting sad habendum dauaea hereo#. f3uch appointment shall be made by ouch court as an admitted- equity and a matter of absolute right to said 3~inrt~es, and _w~tthcwt sderCnce to tl~e adequacy or inadequacy o[ - the value of the property mortgaged or to the solvency or insolvency of said Mortgagoor or the defendants. Such rents, profita.:aeome, issues, and t+evenues shall be by such receiver aooordiag to the lies of this mort$e6e sad the prsetioe of roc6 court. Ice the event of say default ~ the pert of the Mortgagor hereunder, the M agrees to pay to the M on demand as a reasonable rocs y rental fo: the pzemisea an amount equivalent to one-twel[tb~of the ag~e~to of the twelve monthly installments payable in the rhea current yea: Plus the actual amount ~ the annual taxes, aesesements, water rates, and instuanoe premiums fair such year not covered by the atareaaid monthly payments. 10. ;n the event of say 6~*eaeh of this mortgage or default on the part of the Mortgagors or is the event that - say of said sums of money herein r~erreri to be not promptly sad- fully paid sr~ordtng to the tenor hereof, or in the event that each sad every the stipulations, agreements, conditions, and oovenaata of said note and thin mortgage, -are not duly, P~P~', sad ~ pxrfo*med; then is either or any such event, the -acid aggregate sum mentioned in said Hots then teanaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become due and payable forthwith, or thereafter, at the option o[ said Mortgagee, as fully and compktdy as if X11 ~ the said sumo of money were originally stipu4ted to be paid on such day, anything in said note or in this mortgage to the contrary notwithatsnding; sad thereupon or thereafter, at the option of said Mortgages, without notice oe demand, suit at law or in equity, rosy be prosecuted as if all moneys secured hereby had matured Prior to its institu- _ lion. The Mortgagee may for~ecloee thin mo'tgpge, sz~ to the amount so declared due t+ad payable, amt the acid - p~m shall be Bold to ~Y and pay the same together wits coats, expenses, sad sllowanaea. In case of partial of teclosure of this mortgage, the mortgaged premises ah:ll be sold subject to the continuing 2iea of this mortgage !o: the amount of the debt not then due and unpaid. In such ease the provisions of this paragraph may again be availed of thereafter ;tons time to time by the Mortgagee.. l 1. No waiver of any ooveaant herein or of the obli~?tioa se~.,ured hereby shall at say time lherea[ter be held #o be s waiver of the terms hereof or of the note secured hereby. l2. The lies of this inat:,moent shall seassin in. full force sad edeet during say postponement or a:tension of the time ct payment cf the indebtcednees or any part thereof secured hereby. 13. if the Mortgagor default in any of the oovenaats or agreements oontaiaed herein, or in said note, rhea the Mortgagee may ptxfarm the same, and alt expeadita~res (including reasonable attoinay'a fees) made by the Mart~gee in so doing shelf draw interest at the rate provided for in -the principal indebtedness, and shall be trpa~able thirty (30) days after demand, and, together. a?ith interest and costs arxrued thereon, shall be secured by - this mortgage. - 14. Upon the request. of the Mortgagee the 1Nortgsgor shall exec~rte and deliver a supplemental note or notes for the sum or sums advanced. by the hiorSgagee for the alt~etation, modernization, improvement, tnsin- ~ tenauce, or re~ir of said premises, for taxes or aaseaanents against the same and fns an other u y P rpa'-e sutbor- ~ ised hereunder. Said note or notes shalt be secured hereby on a parity with and as fully as ii the !~vaace - " evidenced thereby were iaclude~ in the note first described above: Said supplemental note or notes shall bear - interest st the rate Provided for in the principal indebtedness and shall be payable is proximately equal f monthly psynaents for such period as rosy be agreed upon by the creditor grid debtor. Fs~-to agree oa the ~ maturity, the whole of tbs aeon or sums so advanced shall be due sad payable thirty (30) days alter demand by the ueditor. Ice 9o event shalt the maturity extend beyond the u:timate atatttrity of the note first described above. _ . ~}c~ E - - Bt>~~~ Pltt~~~~ -