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Home My WebLink About2161 . • ' AND the said Mortgogerr hereby e+ovenonh and agrees with the said Mortgagee as folbws: FIRST: That Nte Mortgagor is lawfully :cued of Nse above desuibad premises in fee simple and has good right ro setll and convey the soma ro the Mertgageet shot Na said premises art tree and discharged of and from oU foxes, tax tiNes.or certificates, judgments„ mechanic's tents and encumbrances of any nolwe of kind whomsoever and that the Mortgagor wiN futy warrant and defend the soma ro the Mortgagee, against the lawful doims and demands of,oll parsons whomsoever, and wiR make such further ossuronces ro perfect fee simple tiNe ro said sand, in the Mortgagee, as may reasonabb be required, and wNl pay the several suns of motwy agreed in the sold note ro be poid and all iratallments of princppo) and interest thereon praenpNy when due, and occordin~ ro the tree tenor and affect of the said note. SECOND: Thal the Mortgagor wiN pay oN and singular the foxes, assessments, levies, and encumbrances of every nature ears the above desuibed property, and upon this mortgage and mote, or the nwney secured thereby, before delinquency thtrsof and receipK evidencing payment of said taxes, ouessments, levies and encumbrances shah be deposited with the Mortgagee on or before March !st of each suexeeding year dwing the term of this nwrtgoge; and if some be not promptly paid when due, the Mortgagee cony (without obligation ro do so) pay the soma. ear become purdtoser of any lawful evidence thereof, or certificate therefor, without waiving or affecting ony right hereunder and in this mortgage, or the said note which t ln~wrt98~e secures: and suds poymenh or expenditures so mode :boll boor interest from Me date thereof of the rote of 1 par onwm. THIRD: That Nte Mortgagor wiN keep oN real and personal property now or hereafter encumbered by the lien of this nwrtgage insured as may be required from time to time by the Mortgagee against tats by firs, windstorm -and other hazards, casualties and contingencies for such periods and for not ku than such amewr?h os nay be required by the Mortgagee and ro pay promptly when due aN premiums for such inwrance. The otnounts of :acts insurance required by the Mortgagee are expressive of only Nsa minimum artsosrrsts for which said inswonce shop be written and it shop be incumbent upon the Mortgagor ro mointoin such odditionol irssuronce os may be necessary to meet orsd aamply fuNy with. aN eao-irssurancs requirements cerntoined in said potties ro the end that said Mortgagor is not o oa-insuror thereunder. kssurance shop be written by o canpony or ccsmparsies approved by the Mortgagee and oR policies and renewals thereof shop be held by tM Mortgagee. All .detailed designations by the Mortgagor which ore accepted by the Mortgagee and oN ogreamenb between Mortgogor.and Mortgagee relating ro inwrarsee, now existing or hereafter made, shop be in writing and shop be o port of this mortgage agreement as fully as thewgh set forth verbatim herein and shop ga~ens both parties hereto and Nseir wocesson and assigns. No ten upon any of said policies of inwroroe or upon any - refund or return prerssium which may 6e poyQble on Nsa eorscellation or ternsinolion thereof, shop be given ro oMser thou the Mext- gagee, except by proper endorsement ofRxed ro such potey and approved by Mortgagee. Each policy of inwronce shad have off'ixed thereto a Standard Mortgagee Ckwse erexeptabk ro the Mortgagee, cooking aN bss e>r losses under such potty payable ro the Mortgagee as its interest may appear. ti the event any sum or wms of money become payable thereunder the Mortgagee shall hove the option to receive and apply the some on oooourd of the indebtedness hereby secured, or ro permit the Mortgagor ro receive and use it, or ony part thereof, without thereby waiving or impairing ony equity, ten or ri~lst under and by virtue of this mortgage. b evert of.bss-or physical damage to ti>e mortgaged property the Mortgagor shop give immediate notice thereof by moR to the Mextgogse and the Mortgagee may nwke proof esf loss if the some is not mode promptly by the Mortgagor. h event ? of foredosure of this mortgage or other trorssfer of tiNe ro the mortgaged property in extinguishment of the indebtedness scarred hereby, oR right, title one! asMrest of the Mortgagor in and ro arty inwronce policies then ar force shop pass to the purdsaser or groNee. Upon ony defouM thereof, the Mortgages may (but without obligofron on its port so .to dot place inwrance exs such buildings and pay dst premium and charge such sums so paid ro the Mortgagor and such sums of money so paid shop bear interest from ttse dote of payment at the rote of ~ S - ~ 8 Y per amtrrn. FOURTH: That op :wets of money poid or caused to be poid by the Mortgagee under the terms of this mortgage and herein speeSficoUy provided for, and inekrdiesg any expenses incurred by the Mortgagee in collection of the sum scarred by this mortgage, shop be covered by the ten of this mortgage, the some os the sums of money represented by the note which this mortgage secures. HFTH: To permit, canmit or suffer rw waste, impairment ar detenorotron of sold property, or any port thereof, and upon the failure of the Mortgagor ro keep the buildings en said property in good condition of repair, the Mortgagee may demand the immediate repair of said buildings, or on increase in the amount of security, eu the immediate repayment of the debt hereby secured, and the fos~ure of the Mortgagor ro comply with sold demand of the Mortgagee for o period of fifteen (15) days shah constitute a breech wf this mortgage, and,. of the option of tlse Mortgagee, immediately mature the entire unpaid pruscipal and interest hereby scoured, and the Metgagee may, wiNf011t notice, institute proceedings to foreclose this mortgage, and apply for the oppemstmed of o receiver, as hereinafter provided. L SIXTH: That the Mortgagor hereby promises, covenants and agrees to pay the wms of money and interest os mentioned in sold promissory note, rogether with ony and aN other sums jusNy due and owing the Mortgagee by the terms therein, and secured to be paid os stated therein promptly when due. If default shot: be mode in the payment of the said sums of money or any part thereof os provided in the said rate or this mortgage, or tf the interest that may become due thereon e>r ony part thereof shall be in defouR and unpaid for. a space of ets ~pys, or should the Mortgagor breach ar fo1 to comply with ony other covenant or agreement Ors the port of the Mortgagor a plied with (in those cases in which the option of the Mortgagee of excelera- lion is not otherwise expressly provided herein) and such breach or non-complionte continue in existence for o space of fifteen (1S) days, then and from thenceforth, of the optan of the Mortgagee and without rsotice ro the Mortgagor, the whole of said principal wm expressed in sold rate, together with all other sums therein as well os herein provided tor, shall become immediately due and poyoBle, without notice ro the said Mortgagor. SEVENTH: That in core it should become necessary to place this mortgage and the note secured hereby or either of them, in the hands of on attorney for toiledion, the sold Mortgagor covenonK and agrees with the Mortgagee to pay all costs, charges and expenses of such collection, irrdudirp reasonable attorney i fees whether collected by foreclosure or otherwise. EIGHTH: Tha/, in the event any suit is brought upon this mortgage, whether ro forecbse it, to reform it, or otherwise, and~'or to enforce payment of ony daim hereunder, the Mortgagee may apply to any court having jurisdiction thereof for the appointment of o receiver of sold mortgaged property, os welt os the income, proFts, iswes and reverwes thereof, and the sold P~4i.~