HomeMy WebLinkAbout1247 4. To proof[, commit ur sutler nu waste, impa+rmrnt or drtrriuratiort ut said pn+prrt}• or am• part thrn•ul.
S. Tu pay all and singul:u the costs, ihargrs .tnd expenses, inilud+ng rt•asonablt• lawyer's Tres and lost of .?hstraits ut
title, iniurrt•d or paid at any time b}• said 111urtgagrr because and,~ur in the runt of the failure on the p.?rt of the s.+id
Mortgagor to duly, promptly :utd fully perform, discharge, execute, effect, complete, comply with and abide by rath and
rcery the stipulations, agreements, cunduums and iuvrn:+nts of said promissory m+tr, and this nu+rtg:+gc, .+nc ur t•ithrr, :ur~l
said costs, charges and expenses, each and curry, shall be• immediately due and payable. whrthrr or nut thr;r hr outfit, de-
mand, attempt w iollrct ur suit pending; and the full amount of eaih and terry such p:+ymt•nt shall bear inte•n•at hum the
date thereat until paid at the ratt• of tt•n per crntum per annum; and all said loafs, ihargrs and rxpensrs sc. miurrrd ur paid,
together with suih intrust, shall hr sri un-t1 by the lien of this mortga};r.
G, That (a) in the turn[ of any hrc•aih of this mortgage ur drt:tult un tht• part of the \lortgagur, or (b) in tht• ecrnt ,u+y of stud
sums of money hrrrin referred to hr not promptly and fully paid within ten days next after the same sc•rrralh• brcunx• due and
payable, w•ithuut demand or notice, or (c? in the t•rrnt eaih artd e~•rry the stipulation, ,+gmrmrnts, i onditiuns and iucc•nants of s.ud
pn,misauy note and this mortgage, ane ur either are not duly, pnrmpth• and fully prrformt•d, d+sihargett, cxt•iutrd, rffeitrd,
iumpletrd, complied with and abided hy, then, in either ur any such event, tht• said aggregate sum nu•ntiunrd in said prumiss,m•
note then remaining unpaid, with intrust aiirut•d, and all moneys secured hereby, shall ht•cunu• due and parable forthw•+th, ..r
thereaftei, at theuption of said Atortgagrr, as fulh•and romplrteh•as if all of tht-said sums ut nu+nrc were unginally stipulated to he
paid on such day, anything in said promissory note, and~ur in this mortgage to the iontr.+n• nutw•ithstanding; and thrrrupun uz
thereafter at the option of said ~lortgaRrr, without nutiie ur demand, suit at htw or in t•yuuy. thcrt•toticrc, ur tht•traftt•r begun,
may be prosecuted as if all moneys secured hrrrM• had matured prior to its instit+u+un.
7. 7•hat in the event that at the brgrnning ut ur at am• time pending .ui~ suit upon the. mortgage, or a• fort•ilusr it,
ur to reform it, and~ur ur enforce payntrnt of ,+ny ilaims hrrrundrr, said \tortg,+gt•c .h•+li ,+pph• to the four[ h.+cmg tunsclii flan
thereof for the appointrnt•nt of :t Rrcrivrr, suih four[ shall forthwith appoint ,t !te•.t•is•t•r of sod mortgaged proprrt: all ,+nd
singular, including all and singular the rents, iniume, profits, issues and rryrnues from wh:ttct•c•r s~ ~urir droved, e-ai h and terry
of which, it bring rxpressit• understood, is hett•by mortgaged as if spccttir,tlk u•t forth and drsrriht•d in the• gr,tntmg an.l
habrndum clauses ht•reo(, and such Rrrr+yrr shall have aH the• broad and rffrc five furti runs and puu•ers in ans•!+•ur entn+strd by
court to a Krieirc•r, and suih appuintmt•nt sh.+ll hr t:+.tdr he suih court as an a~lnuttrd cyt:itc and a matter of absolute right to s,ud
.Vortgagrr, and without refrrrncr to the :ulryu:tcy ur inadequaiy of tht• caur of thc• propt•rn• n;ortgagcd ur to the sols•rniy or
insolvency of said Mortgagor and~'ur of the• de•frnd.?nts, and that such rt•nts, pre+tits, inanne•, issues and rcycnucs skill br applirel h~•
suet: Recen•rr according m the lien and'ur equity ut said ~turtgagee .+nd the pr.+ctitr of wth four[.
K. In the event the jurisdiction ut the l•. ti. District Court shall hr incukrd he ur against the Vortg,+gur under any of
the proyisiuns of the Federal Kanlcruptiy Ait, such action, whrthrr vuluntan• ur int•ult:ntan• on the pazt .d the ~turtgagur,
shat! .+utumaticalh•, without notiir, ai ct•lc•ratr the maturate of all sums of mont-y bettor de•si riht•d and st•c urt•cl .tnc! the •,unr
shall thrrrupun become due and payable f~nthwrth as fulls as rf the said aggre•}:atc mums ut money w•rn.• urigrnxlh- snptil.ttrd
w br paid on suih date. _
9. Tu deliver to said \lortgager un ur bctun- Varch 1 Sth of rath year, tax rrirrpts ryide-ni+ng the p:n•i:ernt of .+l! lawtullc
rmpusrd taxes fur the preceding calendar year. and to drln•rr to said ~tortgagre. receipts ryulrnirng the• pa)•men: of .ill liens
tier public impruvemrnts w•ithrn n+nrty (9ti) clays .+ttrr the same shall become slur and p.n•ablr, and to pay ur disih.+rgt- within
nint•ty (90) days. after due date, anv and .ill guecnunrnt:+l levies that may hr m.+di• un the :nurtgagt•d pruprrt~-, on this \t. ~rtge~:r
ur \otr, ur in any other way rrwlting Irum tht• \tortgagr mdebtcdnras sriurrd by this \tortgagr; and it this cunditu~n hr nut
iumphrd with and performed, said \lortg.tgrt• ma}• pay suihsum ur sums which shall hciunu• part of tht• debt st•i urt-d h~• this \lurt-
cumphrd with and prrtirrmed, said Slurtgagrr mat• pat• wch sum ur sums whiff h shall bri umc• p.ut of the debt secured by this \turF
.gage and shall bran interest at the drL+ult rate prrn•idrd in said Prumissun• \otr payahlc• monthly anal paid ur said ~lurtgagct• mac
r1rR that said AtortgaKr debt thereupon ht•conic due and pat•ahlr forthw•rth.
10. If a!I or ary part of the property or an interest therein is sold ur transferred by ~lurtgagagur without \lurtgage•e•s
prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a
purchase money security interest for household appliances, (c) a transfer be_ devise or descent, ur ht• operation crf law• upon the
death of a joint tenant, or(d) thegrant of any leasehold interest of there erars or less not containing an option to purchase. Mortga-
gee may, at its option, declare all the sums secured by this portgage to br immrdiatel}• due and pa}•ablr, Mortgagee shall h.tye
waived such option to accelerate if, prior to the sale car transfer. Mortgagee and the person to whom the property is to br sold
or transferred reach agreement rn writing that the credit of such person is satisfacu~ry tuMurtgagee and that the intrust payahh•un
the sums secured be th+s mortgage shall br at such ratc• as .Mortgagee shall request.
11. That in the event the premises hrrrb~• mortgaged, or :mt• part thereof, shalt he iundrmned and tal:rn fur publii use
under the puw•er of eminent domain, tht• Mortgagee shah h.tyc the right to demand that damagt•s aw•ardrd for the t,+Arng ut ..r
damages to sa+d prt•m+srs shall be patd to the Mortgagee up to the amount then unp,+id un tM~ Mortgage amt at the optron c•f the
\lortgager ma~• hr apphrd upon the paymt•nn 1.+st parable thereon.
12. 7hr Mortgagor binds hintsrlf nut a. rre•it ur prrnut a+br retired any new b~iild+ngs un thc• prrraises hcre+n nu+rtgagc-d
ur u, add to or permit ur br added to ant• of the rx+sting impnn•rmrnts thereon or nt.+l:c• any hangi•s or alterations u+ said
imprucrments which rnatrriallc chan;;r the s.+nu• or tht• use thereof, without the wr+ttrn eonst•nr ut thc• itort~lagre•..+nd in the runt
of-any i•rulation ur at~rmpt to eiulatc• this st:puL+tn,n. this Mortgage and all sums secured hi-mhy s'ttall rnnu•c!:atrle hetomc clue and
iullrctible at the option of the Mortgagee.
1 3. Ir is sprcifiialh• agreed that ttmr +s o(the essence of this Mortgage and that no uan•er of ,ur~• uhhg.uion hcn•undt•r ur of
the obligation secured hrrnc~ shall at am• tune br held to br a w•aiyer of the terms hereof ..r of thc• mstrunu•nt secured herrbc.
14. (f foreclusutr proceedings of am• sri and mortgage or second trust tired ur any ~unuir Lrnof am k+nd should bt• instrtutccl
the \lortgager mat•, at its option, immedcttei}~ or thrrraftrr declare this \tortgagr and the rndebtrdness .reared hrre•hy due and
payable furthw•ith. and mac at its option pr~+crcd to fi>rritusr this mortgage.
15. To the rxtrrtt of tht• indrhtrdness of the Mortgagor to the Mortgagot• deaf nbc•d he•n•tn ~ x•i un•d hrn•bt• the \1. ~rtga~cr
is hereby subn+gatrd to the hen or !fens and to the rights ut the owners and holders thrrcut ~,t t•ai h and ccrrc murtg.+gr hen ur other
rncumbrancr un the land drscribrd hrrt•ur which is paid and ur satisfied in whole ur ~n p.?rt out ut thr,pmtrrtis ut tht• io,+n des-
cribed herein or sriurrd heuM• and the respt•ct+ye liens of s,+rd Mortgages, lens ur other eni umbr,+nies shall be .+nd the s.tmc and
eaih of them hrrrM• is preserved and ch.+ll pass to and br held by ;hr Mortg.+gcc• hrrrin ,+s sri ante ti>r the indchtcdncss to the
~tortRage•r hc•rem dracnbt•d or hrrebc sriurrd, to the s.tau• t•xtrnt [heat it would h:+ce• been prt•arn•rd and would hace• been p.+ssed .
to and ht•cn held be the Mortgagee had it been duly and regularly assigned, rransfrrrt•d. ae•t oc cr .anti de•ln reed unto the Mor tgagc•c•
h.• separate tired ut .+ssignmrnt notwithstand+ng the lair that the s,unr mac bt• s:+tistircl .u+d iancrllyd ut n•corc!- ~t broil; the
+ntrntum of th~• p,+rhes hereto that the s.+nu• will hr s.+tisticd and iantrlit•d of record he the hotclrrs thereat .+t or ,about the
ttmr ut the reiurc3inr of this \tur[}~agr.
. ~ ~'x 327 ~~^~f 1246
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