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tender to the Mortgagee in accordance with the p+~bjls!l~~o[ t1~e4Ib~i?
secured hereb~•, full pa~•ment of the
entire indebtedness represented thereby, tl~e ;4lortgagee, as trustee, ahaA, in computing the amount of aucl~
indebtedness, credit to flee account of the Mortgagor any credit balance remaining udder tl?c provisions of (a)
o[ said ph 2. if there shall be • default under any of the provisions of this cctortgs~e resulting in a
public sale o the premises covered hereby, or if the Mortgagee acqutrea the property otherwise after default,
the Mortgagee, as trustee, shall apply, at the time of the commencement of such proceedings or at the time
the property to otherwise acquired, the amount tl?en ~ren~aining to credit of Mortgagor under (a) of paragn?ph 2
preceding ae a credit on the interest accrued and unpaid and t ce balance to the principal then remaining unpaid
on said note.
4. Hs will pay all taxes, aasesemente, water rates, and other governmental or municipal charges, tines, of
impositions, for which provision has not been made hereiabetore, and in default thereof the Mott;asee may pay the
game; and that he will promptly deliver the official receipts therefor to the Mortgagee.
b. $e will permit, commit, or suEer no waste, impairment, or deterioration of said property or an part thereof
eiieept naeonabb wear and tear; sad in the event of the failure of the Mortgagor to keep the buildings an said
premises and those to be erected on said .premises, or improvements thereon, in good repair the Mortgagee may
make such repairs as in its discretion it may deem aeoeseaty for the proper preecrvatioa theseo~, and the full amount
of sash and every such payment shall be due and payabb thirty (30) days after detanaad, sad shall be seciued by
the lies of this mortgage.
8. He will pay all and singular the costs, clbsrges, and expenses, includin6 reasonable Lwyer's fees, and costs
of abstracts of titley, incurred or paid at soy time by tthhee Mortgagee because of the failure on the part of the Mortgagor
o~ost charges, and ex ~nsea hall be iamm~iatel due and~~ of said promissory note and this. mortgage, and said
pe y payable and shall be secured by tt?e lien oft ' mortgage.
7. He will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee ma
from tune to time require, on tlib~i~nte now or hereafter on said premises sad evicept when paymen6
for all such premiums has there or 'been made under (a~ of paragraph 2 hereo! he will pay promptly when
due any premiums therefor. All insurance shsA be carri in companies approved by rortgagee sn. the poli-
cies and renewals thereof shall ba held by Mortgagee.and have attached thereto loss payable clauses ua favor of
and in form acceptable to the Mortgagee. In event of loss he will give immediate notice by mail to Mortgagee,
and Mortgagee may make .proof o loss if not made promptly by Mortgagor, and each insurance company
concerned is hereby suthorised~and directed to make payment for such loss directly to Mortgagee instead of
to Mortgagor and Mortgagee jointly, and the insurance proceeds, or any part thereof, may be app 'ed by Mort-
gagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of
the property dama&ed. In,event of foreclosure of this mortgage or other transfer of title to the mortgaged
property ui extinguishment of the indebtedness secured hereby, a~l right, title, and interest of the Mortgagor
in and to any insurance policies then in force shall pass b the purchaser or grantee.
8. If the prnn~isc~s, or am part thereof, be condemned under the power of eminent. don:au~, or acyuirnd for
a public use, the damages awarded, the pra•eeds for the taking of, or the consideration for such e~quisition, to
the extent of the full amount of the remaining unpaid indebtedness serured i?~• this uiortgaKe, am hercb~•
assigned to the ~tortgaKee, and his heirs or asgil;ns, uncl shall Ix• paid forthwith to said ~fortgagec or his
assiKnee to be applied on account of the last niaturiug installuu•nts of such indebtedness; pro~•ided, hoK•e~•er,
the ~lortgugee or his assiKnee, ncu~• at his discretion pa~• direct to the yortgagor, leis heirs or acsi~ns an~• part
or all of suck award; provided, that if the loan is Kuaruntecd or insurecl, the consent of the guarantor or insurer
is obtained in advance o[ said pa~•nu•nt. ,
9• The Mortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdiction
thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered
hereby all and singular, including all and singular the income, profits, issues, and revenues from whatever source
derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and
described in the granting and habendum clauses hereof. Such appointment shall be made by such court as an admitted
equity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of
the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or the defendants. Such
rents, profits, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage
and the practice of such court. In the event of any default on the part of the Mortgagor hereunder, the Mortgagor
agrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount at least
equivalent to one-twelfth (~z) of the aggregate of the twelve monthly installments payable in the then current
year plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year
not covered by the aforesaid monthly payments.
10. In the event of any b~eac6 of this mortgage or default on the part of the Mortgagor; or in the event that
any of said soma of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the
event that each and every the stipulations, agreements, conditions, and covenants of said note and this mortgage,
are not duly, promptly, and fully performed; then in either or say such event, the said aggregate sum mentioned
is said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become
due and payable forthwith, or thereafter, at the option of said Mortgagee, as fully and completely as if all of the
said soma of money were originally stipulated to be paid on such day, anything in said note or in this mortgage to
the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice or
demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had matured prior to its institu-
tion. The Mortgagee may foreclose this mortgage, as to _the amount so declared due and payable, and the said
premises shall be sold to satisfy and pay the same together with costs, expenses, and allowances. In case of partial
foreclosure of this mortgage, the mortgaged premises shall be sold subject to the continuing lien of this mortgage
for the amount of the debt not then due and unpaid. In such case the provisions of this paragraph may again be
availed of thereafter from time to time by the Mortgagee.
11. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held
to be a waiver of the terms hereof or of the note secured hereby.
12. The lien of this instrument shall remain in full force and effect during any postponement or extension of
the time of payment of the indebtedness or any part thereof secured hereby.
1:3. If the Mortgagor default in any of the covenants or agreements contained herein, or in acid note, then the
Mortgagee may perform the same, and all expenditures (including reasonable attorney's fees) made by the blortgaRee
in so doing shall draw interest at the rate provided for in the principal indebtedness, and shall be repayable
thirty (30) days after demand, and, together with interest and costs accrued thereon, shall be secured by
' this mortgage.
14. Upon the request of the Mortgagee the Ltortgalor shall execute and deliver a supplemental note or
notes for the sum or sums advancedl oy the `tortgagee for the alteration, modernization, improvement, main-
tenance, or repair of said premises, for taxes or as.~esgments against the same and for-say other purl?ose author-
ized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as if -the advance
evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear
interest at the rate provided for in the principal indebtedness and shall be Payable ins proximately equal
monthly pa menu for such period as may be agreed upon by the creditor and debtor. Failing to agree an the
maturity, the whole of the sum or sums so advanced shat! be due and payable thirty (30) days att:er demand
by the creditor. In no event shall the maturity extend beyond the ultimate maturity of the Hate first
described above.
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