HomeMy WebLinkAbout2598 _ .
~ -
AND Mte said Mortgagor hereby cowrsash and agrees with the said Mortgagee ns fdbws:
fIRSTt Tlsot the Mortgoga it lowftdly seised of the above described premises in fee simple and has good right to seN and
cgwey the same b the Mortgogeej Thof 1i1~ said premises on free and disdsorged of and front oN tors, tax titles a certifkotes,
N+dgntetos. mecisanic's Goa and ertcvnsbratkes of any naturi or ki;.3 ::,oiso:res :.rd s.''.ut !hs Ms:.~:. ftrtty worrord arsd
defend Mss same b Mss Mortgagee, ngainsf Mss bwful doing and denwnds of oU. persons whomsoever, and wiN make sash fuAhet
osswonces b perhd fee sueple title b sold land, M the Morfgogee, as• racy nosonoble be required, and wiN poy•1M several
sums of mott.y agreed b 1M said .note to be paid and otl instollmenb of principal and irttenst thereon promptly wFten dw, and
oot~ordinq b the hue tenor and effect of the said sots.
SKOND: That Mte Mortgago? will pay oN and singular the taxes. ouessmenh, levies, orsd entumbrontes of every notwe
on Mss above described property. and .upon Msis mortgage vnd note. or the stoney secured thereby. before delinquency thereof
and reteiph evidencing payment of said taxes, os:fssments, levies and ertfwtsbrantes shall be deposited with the Mortgogee on or
before March 1st of each suoceedirtq year dvrirta Mte term of this ntortgoge: and if some be not promptly paid when dw, Me
Mortgagee may (without obligation M do so) par Mte same, or become purchaser of any lawful evidence tMreof, a cerlittcate
tMrefor, without waiving or offecti<tq any right heretatder and in this ntortgag~, or 1lte sold note wlsidt this martQ a secures: and
such poymer>rs or expenditures so made shotl boor interest from the date Mtereof at tM rate of 15.4d~
pet aruwm.
THIRD: That the Mortgagor will keep all real and personal property now a hereafter encunsbered by the lien of the
nsortgoge iroured o: mar be required from time fo time by the Mortgogee against bss by flr~, wsndstorm and. other hazards,
costwtties and confirtgencies for such periods and for not less Mwn such amounts as may be required by Mss Mortgagee and to pay
Promptly when dw oR premiums for such irtswonce. The amounts o? such Insurance r~quaeo br rite iNwtgogee are express'we o:
only Mte ntininttast amounts for which sold insurance shop be written and it shah be irsoumbent upon the Mortgagor to maintain such
odditiawl irourarsce os nwy be necessary to ttte~t and coatply fugy with aN co-insurance nquiremerds.tontoirted said-porkies to -
tlse end shot said Mortgogor is not o oo-irauror tMreunder. kutrronce shots bi written by o otsntpony or asntpanies approved by the
Mortgagee and off polities and rersewok Mtenof shop be heW by. Mss Mortgagee. AM detailed desigrwtiorss by the Mortgagor
which ore ootxpted by 1M Mottgagee and oR agreements between Mortgagor and Mortgagee rebting b irtwrartoe, now existing
or Mreofter mode. shall be M writing and tltoq be o port of this mortgage agreensent as fuNy os Msough set forth verbatim herein
and shop govern both parties MreM anti Mseir sttocesson and ossigrss. No lien upon arty of said porkies of irssurortce or upon arty
refund or stars premium which may be payable on the canceUotias or termination thereof, shall be given to oMser thou the MoA-
gagse, except by Proper endorsement. affixed to such policy anti approved. by Mortgagee. Each policy of inswonce shop have
affixed thereto o Standard Mortgagee Gauss acceptable to -the Mortgagee. cooking op bss a losses under suds policy payable
to the Mortgagee as its interest may appear. 6 the event any stras or scans of matey become poyabk Mseraunder the Mortgagee
shoo hove the option b receive anti apply the same on account of the indebtedness hereby scarred, or to permit the Mortgagor b
receive and use it, or arsy part thereof, without tMreby waiving or impairing any equity, Gen or right under anti by virtue of this
nwrfgoge. b event of bss a physical damage id Mss mortgaged property Mss Mortgagor shay give inwnediate notice thereof by
moil to the Mortgagee anti Mss Mortgagee may make proof of loss if Mss some is not made promptly by the Mortgagor. b event
of foredosure_of this ntortgoge a other honsfer of title to the nartgaged property in extinguishment of the indebtedness seared
hereby, oq right, title anti interest of Mss Mortgagor in and b any inwronce porkies then in force shall pons to the purdwser a
grantee. Upon any defouh thereof, Mss Mortgagee nwy (but without obligation on its part so to do) .Plate irowartte on such
buildings anti pay the premium anti dsarge suds st~ sc~~d to the Mortgagor anti such wms of money so paid shall bear interest
from the dote of poyntent of the rote of ~ per arrstrm. _
FOURTH: That all sums of money paid a caused to be paid by the Mortgagee under the terms of this mortgage anti herein
speaficoly provided for, and inducting any expenses akurred by the Mortgagee in collection of the sum secured by ffiis mortgage,
~ shall be covered by 1he,Gen of this mortgage, the same as the sums of money represented by the note which this mortgage secures.
FfFTtt: To permit, commit or suffer ra waste, impairment a deterioration of said Property, or any port thereof, and upon
the failure of Mss Mortgagor to keep the buildings on said property in good condition of repair, the Mortgagee may demand the
immediate repair of sold buildings, or on increase in Mss amount of searity, or the immediate repayment of the debt hereby
secured, and the failure of the Mortgagor b canply with said demand of the Mortgagee for o period of fifteen (15) days shall
constitute a breach of this mortgage, and, of the option of Mss Mortgagee, immediately mature the entire unpaid prutapol anti
interest hereby secured, and the Mortgagee may, without notice, institute proceedings b foreclose this mortgage, and apply for
the appointment of o receiver, as hereinafter provided.
SIXTH: That the Mortgagor hereby promises, covenants and agrees to pay Mte sums of money anti interest as mentioned
in sold promissory note, together with arty anti a0 other sums justly due anti owing the Mortgagee by the terms therein, and secured
io be paid os stated Mersin promptly when due. If default shat: be-mode in the payment of the said sums of money or any Part
thereof os provided in the said note or this mortgage, or if the interest that may become due thereon or any port thereof shall be
in default anti unpaid for o space of fdtteao# dan~, or should the Mortgagor breach or foil to comply with any other covenant
or ogreemant on the port of the Mortga~&=1e~~tWnpGed with (in those roses in which the option of the Mortgagee of occelero-
lion is not otherwise expressly provided herein) and sud? breach or non-compliance continue in existence for a spore of fifteen (13)
days, then anti from thenceforth, at the option of the Mortgagee anti without notice /o the Mortgagor, the whole of sold principal
sum expressed in said note, together with all other sums therein os well os herein provided for, shall become immediately due anti
payable, without notice to the sold Mortgagor.
SEVENTH: That in case it should become necessary to place this mortgage and the note secured hereby or either of them,
in the hoods of an attorney for coltedion, the said Mortgagor covenants and agrees with the Mortgagee to pay all costs, charges
and expenses of such collect'an, ir?cluding reasonobte ottomey i fees whether collected by forecbwre or otherwise.
• EIGHTH: That, in the event any wit is brought upon this mortgage, whether to foretbse it, to reform it, or otherwise,
and;
or to enforce payment of any claim hereunder, the Mortgagee may apply to any court having jurisdiction thereof for the
appointment of o receiver of said mortgaged property, os well as the income, profits, issues anti revenues thereof, anti the said
8001(~~ PAGE~~e~~
-2-