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Home My WebLink About2174 - ~ - - a To perform, comply will and abide by each and every stipulation, agreemeMr. t0ltdttip? and cowrlar~ ~ Md paniuory soh and deed set forth. 7. If at?y of Nse suers of rrroney hereiw re(e~ted to M tset prowWly and fully pafd wiNsin thirty (>Ip) days heal alter tlse scree severelh beconse d,te arsd gtreble, a N each end every tM sHpuletiorr, agreereenh, conditions, end covatsarMa of said promissory tsoh end Nsle mgrgage, a eitlw, ere nor doh perfamesl, complied witA end chided by, Ilse aggregah ?uw wen?ioned in• ie~d prtiwiewry Jtph sMH become due end gyabie IaMwitA a tlserealter at the option of tM Mortgagee, « fully end cartoleteh w if said agghpah save of esatiry.vxM Niginal~l( uipuleted h apaid ors suite day, MsYfh4N iw said powissory tsoh a Iserelw h Nte conNary wotwiNsatendirq. , To deliver b said MortgagN, on a before Much 15H of cash Year, hx receiph wldarst:ing tM gymer?f of ell bwivlly itnPOSed teas for 1M preceding calensir seer. and ro deliver ro said Mapagea, hcelpts.swldw+cirp Nse paYmeM of aH.lieru for public insprovementa wiHirt ninety (90) tfeyt after 11se earns shall j become due end gyable, and ro pay a discharge witls{e asinJfy- (90) days after ate date, enY end all gowrrtnsantel levies tMt may be made an tM matgsped poverty, on this mortgagor a note, a in any other way rauhirq from 1M Mortgage indebtedness secwed by this mortgage: and if this condition be not complied wiH and performed, said magagee nsaY pay such wet a suns which sMll become paH of tIN debt secured by thle etortgage, and shall bear interest N rise rah provided M said ratti gyabN monMly until pad a ~i~Airtdsgtie mby elect that said ttsortgage debt Hereupon became due and Payable forMwiH. 9. h M ftwtlse: cowrwshd and agreed by said parties thani in Nsa event of • suit being institsaed a Iaeclaa His mortgage, Nse Mortgagee ahaN b• entitled h aPph al any bete pendirq such faecktswe suit h Nse tosM Mvirt' iwisdittion thereof for the appointment o/ • receiver of all and singular Use end of all the renh, incortsas, po6M, issues and reverw»s thereof, crow wMboewr sowee derived: end Meresgon it le her poPerb. dset till ceswt sisal) forihve,M apPOwM • receive of acid esortgegad popery, all end . ebY •xpressh covenanted and agreed uspuier, and of such rents, inrwwtes, petits, issues end revenue Merest, hart whariatver aeswd derived, witA Nse usual powers and duties trf receivers M K!e uses; and such appantrnent sMll M made by such covet a • rtsatter a! strict right N Nsa Mortgagee, in suoceswrs„ kyel represerM+Kvea a aasigtr, and willow reference h Nse adevuxy a Madegstecy of Nsa wive of rise papery Mreby mortgegad, j a ro the sohrency a iraolvencY o< rite Mortgagor, and tAN such rent. profits, income. issue and revenues shall M applied by reds nniwr ro Nye payment of tM wertgage irsdebadrsesa, eau and dtergae. eccoding h tM order ttf such cant. 10. IF all a any qrt of tl,e popery a an interest therein is sohf a trsmferred by mortgagor without mortgagee's pia written consent, nchtding (a) tM creation of a lien a encumbance subordinate ro this mortgage, (b) the creation of a pwchase money secwiry interest fa household apPliarsces, (c) a transfer by devise a descen?, a by operation of law upon rite deaM of a pint tenant, a (dl rise grant of any leasehold interest of Mree Yeus a Ito rat coouining an option ro pwchase, mortgagee may. at iri aptien, derlue all tM sums sacwed by this rtsortgage to be irrunediately dw and gYable. Mortgagee shall haw waived such option ro xcekute if, pia to the sale a transfer, mortgagee and the person ro whom the poverty is ro be sob a transferred reach agreement in writing that the credit of such person is sausfxrory to Mortgagee and that the interest payable on rise sums sacwed by Mis mortgage shall M at suth rah as Matgagse shall request. 11. 7Mt in tM event Nse premises Mreby rtsertgagad, a any part tMreof, shall b. condemned end taken for public use under rise power d ewinesw danairy tM Mergagee sMll Mw the right ro demand that ell damages awarded fa tM taking of a damage to said pemiNS sMll b• qid h tMJMortgegee w ro Mss amount risen urtgid on this wortgape end at tM apion of tM Mrtrttlagee way a applied upon the paymenh lest payabM Nsereon. 12. The wartpaga binds hiwneN not b erect a permit ro be erected any new buildngs on tM pemisM Iserein rrtertgped a ro add ro of permit b M added ro any at Nse exisfirq impovenNnri Meson a make any changes a aheratians in said impoweNr,ri whirls materially chanq tM same a tM use tltereot, wrMatt tM writes tomenl of the Mortgagee, end in Nse event of any violation a ettemp h vidah His atipulNion His nartgage and all sums axwad MrabY shalt im- med;ertly becowse dw and oolkctibN N tM option of rise Mortgagee. 1~. Nis epecitically agreed tMt time le of tM essence of this contract and that no waiver of any ob'igation hereunder a o/ the obligation secwed hereby shall N arty time be Mb ro b • waiver d tM terms ltereaf a of Me instrument secwed hereby. 11. If faecbsun proceedings of any second mortgage a second trust dead or any jwsior lien of any kind should a :mtituted, tM Mestpagee m.y, a iri option. i immediatah a therwfhr declare this mongage and tM irsdebtedrsen secwed hereby dw and gYeble forthwiM, and may at in option pureed a foreclose this j mongage. - 13. To /M extent of tM insMbtedrws of rise Mortgagor to /M Mortgagee described herein a secwed hereby 1M Mortgagee is hereby subrogahd ro tM lien a liens end ro tM righri of rite owner and lalden Hereof o1 cads and every mortgage I:en a usher inewtsbrance on Nse larsd described herein vrhicA is paid and/or utisfied in whole a in qrt out of Nse poresds of _tM lows described herein a secwed hereby, and the ?esPectiw liens of said wortgages, liens a other incumbrances shall M and Nse. san•.e and each of them hereby is peserved and shall qss to end be heW by the Mortgagee I+erein a sacwiy fq Nte indebtednen ro tM Mortgagee herein described a Hereby secured, ro Nse same extent that it would Mw been peserved and would 'maw been passed ro and been held btr rile Mortgagee had it been date and regularh auigned, hansferred, set over and delivered unto the Mortgagee by sepuah deed of assigesrrtent notwithstanding tM fact tMt Nse same may be satisfied and cancelled of record, it being 1M intention of tM pwties hereto that M• same will be satisfied and cancelled of record by rM holders thereof N a about the lull of rise recordng of Mrs Jrtortgage. . I6. To DaY all and singular the mari, charges and expenses, including lawyer's foes, reasonably incurred a qid at any time by tM Mortgagee, because of ' rtes failure of the Mortgagor ro perform, comply will and abide by each and every the stipulations, agreemenri, conditions, and covenants of said pomissory note and this deed, a either, and every such gyment shall bear interest from date at the rate povided in said pomissory note. + t 17. Whets any awosmt of wavy ro be paid by the Mortgagor ro tM Mortgagee under the ferns hereo/ shall be in default, a should the ' any of ill other terror, povisiero a conditions of this Ma Me~Wger defauN in s tgage, then and in tha* case the Mortgagee shall Isew NN riglN, without rewire to tM Mortgagor, ro caliecr and receive iron any tenant a lessee of said rnorfgaged pewiaes Ilse renri, iuues and pofiri of tM real estate hereby mortgaged and ell impovemenri , thereon, and ro give poper receips and xquinanps therefor, and after paying all convnissions of soy renal agent eollectieg the same, and any reasonable maneyi ~ foes and Order necessary expenses incwred in cdlecring same, b apply ill poceeds of sucA collections upon -any indebtedness, obligation a liability, of the ; I~ Mortgagor hereunder. The right granted the Mortgagee under this puagraph shall b in addition to, and shall not limit a restrict, any usher ?:ght a righh granted Me Mortgagee in His Mortgage. I 10. if tl+e Mortgagors at rise time of making this Mortgage a subsegstent thereto take out life inswance designating tM Mortgagee herein as beneficiary with • t comgny appoved by the Mortgagee a ass.gns policies to the Mortgagee fa the pwpose of secw"u,g tM mortgage loco hereby secwed, than the Mortgagee shall ~ have rM right ro pay ar,y pem:swn aotruing under said policies, and all sums w expended shall be added ro end become • part of tM pincigl indebtedness secured by His Mortgage and shall be qid by the Mortgagor ro tM Matgaget in tvwlw egwl comecutive mwMly instalfinenri, the /first monMly iMlefiment to be qid as • qn of and in addition ro tM monMly gyment dw under this Mortgage in tM first•ukndar month folbwir,g tM •:persdirsg of said sum. Such sums so •:grded to bear :merest n tM rah err which interest is gYable upon said pinc:gl indebedness and tM lien of Mis Mortgage shell •xNnd ro and sxwe the sums w expended together will interest thereon es here,nbefore povided. x - 19. At mortgagee's opton, together will and in addition to the monMly payment of pincigl and interest gysble under the terms of the note served hereby, Mortgagor shall pay to Mortgagee each monM until said note is fully qid, one-twelfM (1/14) of a sum P egwl ro the annwl pemivm due fa fire, extended ~ coverage, and other hanrd inswance including flood insurance, covering the morgaged poverty, plus taxes and assessmenri next due on the mongaged poverty 1 gall as estimated by Mortgagee) less all sums already qid therefor, and to be divided by the mtmber of months ro elapse p'ar to the doh when such taxes and ~ auessmenri shall become delitsquerst. Said sums shall be held by Mortgagee in tnnt a reedited ro the pincigl of the loan, to qy aid irsswance, to:es, and assessments and sMll be applied on rise gyment Hereof when due. My a:cess held in tent by Mortgagee when aid loan is qid in full shall be qid ro i Mortgagor, a his auigro, a personal repesentatives. In the event of a defwlt a faecloswe, said sums held in trust may be applied on any costs of damages sustained in corvsettion will tFre collection of~the note secwed hereby whether by wit, foreckxwe, or otherwise. Mortgagee may from time ro time at its op• Lion waive, and aher any susis waivrJr, reinstate any a alt povisions herrsf nquir'up stsdt deposiri, by notice to Mortgagor in w?itirsg. While arsy such waiver is in effect, Morpagor shall qy taxes, assessments and inswsnce pemiwtss u herein elsewhere provided. 40. Mortgagor shall comply will the povisions of any lease, if Mis mortgage is on a leasehold. tf Mis mortgage is on a condominium unit, mortgagor sMll perform all of mortgagor's obligations under the decluation of condominium a master deed, she by-laws and regulations of the condominium poiert and cone stirvenf documents. Mortgages further cawnanri that he and the association responsible fa the operation of the condominium will observe all of rtes povisioM of the said declaration, and any amendments thereto, and of the Casdorninivm law of the state, and will pirfam aN obligations thereunder; and a Hilun to do so which is not cwad within 30 days after notice given by the mortgagee to tM mortgagor and the said association shall constitute a default under ?his mortgage. Mortgage turelser specific:Ily covenants, bw not by way of limitation, that he and the association will observe all of the povisions of aid declaration of condo- minion releting ro inswance coverage. s 41. Mortgagor fsrrtMr covenants and agrees that at tM request of Morpagee to fwrsish a standard termite bond inswirsg against damage by infestation on 3 tM buildings now a hereafter looted on the morpaged popxty, in such amouNS and terms, and will such company as aPpoved and required by Mortgagee; a and in rise event Mortgagor does not comply will this covenant Mortgagee shall haw the same rights ro obtain same as irssurarKe coverage under covenant 1 ?t3 hereof. ~ . 3 f 7 i a , s s ss~~ 8(1t~I ~ P~GE~?Ja7J - (Signatures on Reverse Side)