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Home My WebLink About2785 _ a _ ANO the sold Mortgapo? hereby tovenonh and opries wits 1M soid Mortgagee os folbws: FIRST: Thof tM Mortgagor is lawfully seized of tlse above desuibed premises in fee simple and has good right b sell and convey tM some ro the Mortgagee; Mof the soid premises are free and discharged of and from all foxes, fox tiNes or certiAcotes, judgments, mechanic i liee?s and encumbrances of any nature or kind whatsoever and Mat Me Mortgagor will fully warrant and defend IM some to Me Mortgagee, apairot Me lawful claims and demands of all persons whomsoever, and will make such further oswrances ro perfect fee simple title ro said lord, in Me Mortgagee, as may reasonable be required, and will pay the several sums of money agreed in Me soid note to be paid and all instollinents of principal and interest Mereon promptly when due, and otoordinq,ro Me true tens-and effect of Me soid note. SKONO: That the Mortgagor will pay all and singular Me foxes, assessments, levies, and encumbrances of every nature on the above described property, and upon Mis mortgage and note, or Me money secured Mereby, before delinquency Mereof and receiph evidencing payment of said taxes, assessments, levies and encumbrances shall be deposited wits Me Mortgagee on or before March 1st of each succeeding year during Me term of Mis mortgage; and if same be not promptly paid when due; the Mortgagee may (without obligation ro do so) pay Me same, or become purchaser of any lawful evidence Mereof, or certificate Nserefor, without waiving or affecting any right hereunder and in Mis mortgage, or Me soid note which this mortgage secures; and such payments or expenditures so made shall bear interest from Me date thereof of Me rate of 189b per annum. THIRD: That Me Mortgagor will keep all real and personal property now or hereafter encumbered by the lien of this . mortgage insured as may be required from time to time by the Mortgagee against bss by fire, windstorm and other. hazards, cosuafties and contingencies for such periods and for not less Man such amounts as may be required by Me Mortgagee and to goy promptly when due all premiums for such insurance. The amounts of such insurance required by the Mortgagee ore expressive of only Me minimum amounts for which said insurance shall be written and if shall be incumbent upon the Mortgagor to maintain such odditionol insurance as may be necessary to meet and comply fully. wits all to-insurance requirements. contained in soid policies to the end chef said Mortgagor is not o co-inwror thereunder. Inwrante shall be written by a company or companies approved by the Mortgagee and all poliaes and renewals Mereof shall be held by Me Mortgagee. All detailed designations by the Mortgagor which ore accepted by Me Mortgagee and all agreemenh between Mortgagor and Mortgagee relating to insurance, now existing or hereafter mode, shall be in writing and shall be a part of Mis mortgage agreement as fully os though set forts verbatim herein and shall govern bats parties hereto and Meir successor and assigns. No lien upon any of said policies of inwronce or upon any refund or rebm premium which may be payable on the cancellation or terminotiop Mereof, shall be given to oMEr Man Me Morf- gagee, except by proper endonement affixed to such policy and approved by Mortgagee. Each policy of inuurance shall hove affixed Mereto a Standard Mortgagee Clause aaeptable ro tlse Mortgagee, making all bss or bsses under such policy payable to the Mortgagee os ih interest may appear. In Me event any wm or wms of money becane payable thereunder_Me Mortgagee shall have Me option ro receive and apply Me some on account of Me indebtedness hereby secured, or to permit Me Mortgagor to receive and use it, or any part thereof, without Mereby waiving or impairing any equity, lien or right under and by virtue of this mortgage. In event of bss or physical damage to the.mortgoged property Me Mortgagor shall give immediate notice Mereof by mail ro the Mortgagee and the Mortgagee may make proof of loss if the some is not made promptly by the Mortgagor. k, evert of foredowre of Mis mortgage or other transfer of title to the mortgaged property in extinguishment of Me indebtedness secured hereby, all right, title and interest of the Mortgagor in and to any inwronce policies Men in force shall pass to Me purchaser or groMee. Upon any default thereof, Me Mortgagee may (but without obligation on its port so to do) place irswronce on suds buildings and pay Me premium and charge such wms so paid to Me Mortgagor and such sums of money so paid shall bear inte~esf from Me date of payment at Me rate of 18% per onrwm. FOURTH: That all sums of money paid or loused fo be paid by Me Mortgagee under Me terms of Mis mortgage and herein specifically provided for, and inducting any expenses incurred by Me Mortgagee in collection of the sum secured by Mis mortgage, shot) be covered by Me lien of Mis mortgage, Me same as Me sums of money represented by Me note which this mortgage secures. f - HFTH: To permit, commit or suffer no waste, impairment or deterioration of soid property, or any part Mereof, and upon Me failure of the Mortgagor to keep Me buildings on soid property in good condition of repair, Me Mortgagee may demand the immediate repair of said buildings, or an increase in Me amount of security, or the immediate repayment of Me debt hereby sewred, and the failure of Me Mortgagor to comply wits said demand of Me Mortgagee for o period of fifteen (15) dogs shall constitute o breads of this mortgage, and, at Me option of the Mortgagee, immediately mature the entire unpaid principal and interest hereby secured, and the Mortgagee may, without notice, institute proceedings to foreclose this mortgage, and apply for f Me appointment of o receiver, os hereinafter provided. SIXTH: That Me Mortgagor hereby promises, covenants and agrees to goy Me sums of money and interest as mentioned ~ in said promissory note, together wits any and all other sums justly due and owing Me Mortgagee by Me terms therein, and secured p to be paid as stated Mersin prompNy when due. If default shot: be mode in the payment of Me said sums of money or any port thereof os provided in the soid note or Mis mortgage, or if Me interest Mot may become due Mereon or any part Mereof shall be in default and unpaid for a space of fifteen IIS) days, or should the Mortgagor breach or foil to comply wits any other covenant or agreement on Me part of Me Mortgagor to be complied wits (in those cases in wh~tts Me option of Me Mortgagee of occelera• Ywn is not otherwise expressly provided herein) and suds breech or non-compliance continue in existence for a space of fifteen (15) E dogs, Men and from MenceforM, at Me option of the Mortgagee and without notice to Me Mortgagor, Me whole of soid principal sum expressed in soid note, together wits all other sums Mersin as well as herein provided for, shall become immediately due and payable, without notice to Me soid Mortgagor. SEVENTH: That in case it should become necessary to place this mortgage and Me note secured hereby or either of Mem, in Me hoods of an ottorrey ror collection, Me said Mortgagor covenants and agrees wits Me Mortgagee to pay all costs, charges and expenses of such collection, includ?ng reasonable attorney's fees whether collected by foreclosure or otherwise. t EIGHTH: That, in Me event any suit is brought upon Mis mortgage, whether to foreclose it, to reform it, or otherwise, g andjor to enforce payment of any daim hereunder, Me Mortgagee may apply to any court having jurisdiction thereof for Me _ appointment of o receiver of soid mortgaged property, os well as the income, profits, issues and revenues Mereof, and Me soid i $~33~. P~2781 -z-