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Home My WebLink About1576 a To perform, corwN wits and abide by exh and every stipulation, agreement,, celtdi)iHts and covatw~ '0. y'd pomNaOty t~ awd daa~'sa~ rr1J 7. 11 arw of tM sutsw of rtsoetey herein re(at;l•~ N k tsN porptly and fully paid within thirty NO) days Mat after tM aaww severany becoana dra and payable. M If each and way tlta stipulaliotts, agreawtenb, condition. and cowMnb of said pramis?ory noN and Mis mortgage, a eiMa, ere rtet duly perfermed, complied with and abided by, tM aggregero Burn tttentiortad intie~d prpeti~abfy arose atoll beconta des and payable taMwiM a thereafter at the oWia+ of tM Mortgagee, a fully and cowtpNMly es if nail aggregaN soot of wq~y .yN{ Migittay>< Nipulat ed q a paid on ouch day. anyMsing in acid potwissory trots a hareiw to Nte cautery rtefwiMalattding. , To deliver b said Mortgagee, on a beige Merdt ISM of each Year, fast receipts widencing the payment of all lawfully impoesd sixes fa 1M peceditp .atarida yes, and ro deliver ro wid Mortgagee, receipts. widencing tM WYmertt of all lion fa public iwtprowmertb wiMin ninety (90) dari after tM aan+e atoll become des and payable, and ro pay a discMrge withlo ninjfy. (90) dari after thra date, any and all gowrrtrrtental levies tMt rosy M made on tM mortgaged popery, on Mis mortgage a rate, a in any other way resuUing from the Marpage indebtedness setwed by Mis mapaga: end if this condition be not complied wits and performed, said mapsgee rosy PaY such sum a swro which shall bxom• part of tM debt secured by Mis tttorpaga, and sMll bear interest at tM rah povided in uid non. paYabN mgnHly until paid a aai~,IllWpagee they eNct tMt said trtortgage debt Hereupon became des and payable forthwiM. I 9. It is IwtM' townanted end agreed by uid parties tMt in the event e< • soil being instituted ro foreclese Mis mortgage, tM Mapagee atoll a entitled ro apply el arty tieM pending suds fereclaawe wit ro the cowl Mvitp )wisdiction Hereof fa tM appointment of • receiver o! all and singular the mortgaged popaty, and of dl tM renb. incomes, pofib, issues and rawness thereof, from wMboewr sown derived; and Maswon it is hereby sapessM covenanted and agreed Mat tM court sMll forMwiM appoint • receiver of said rnapaged popaM. all and sirtguler, and o! such rents, incorrya, pofih, issues and rewnw thereof, from adtetaoewr sown derived. witA tM uswl powers and duties of nniven in lib cases: and such appo~ntmtnt atoll M made b1r such covet es • matte. d strict right b Nte Matpegee, its suaeswn, legal represenbtiws a assigm, and witheul reference ro Nta adegwcy a inadegsracy of /M value of the popery Mreby mortgaged, a ro tM solvency a Luolvertcy of tM Morpegor, and tlset suds rent, pouts, income. issues and revenues atoll M applied by suds receiver ro the paYm+nt of tM warpage irtdebtadrwss, cab and dwges, accadittg ro 1M order of atrch court. 10. li all a any part of the popaty a an interest tMrein is sold a transferred by mapaga without morpagN's pier wrinM consent, excludirq (a) flte creation of a ben or encumbrance subordinate to this mortgage, (b) the creation of a purcMu money security interest fa household appliances, (cl a transfer by devise or descent, or by operation of law upon the death of a joint tenant, a (d) rM grant of any leasehold interest of tMee yeas a less not containing an option ro purcMss, mortgagee may, at its option, declare all tM scans sawed by this mortgage to be imntedurety des and payable. Mortgagee sMll Mw waived such option ro xcelerate if, prior ro tM sale or transfer, mortgagee and tM person to whom tM poperty is to be wW a tranafared rexh apreemertt in writirq that tM credit of such person is satisfx?ory ro Mapsgee and that tM interest payable on the wms secured by Mis mortgage shall be ar such rite at Morpagee sMll request. 11. That in the event tM pemiaes Mreby rttortgeged, a any Part tMreof, shall be condemned and taken fa public use under tM power of eminent domain, the Mortgagee atoll Mw tM right ro demand tMt all damages awarded fa tM taking of a damages ro uid pemiaes sMll M paid to 1M.Mortgagee up ro ttte arwount Mart rmpaid on Mie •ta•tgage and at tM opion of the Mortgagee may M applied upon tM paYmenb last payable thereon. 12. TM tnatgaga binds himself riot 1o acts a permit ro be erected any Mw buildngs on tM pamises herein tttortpaged a ro add ro a permit ro a added to any of tote existing imp?owmanb thereon a make any thartges a •Iteretions in said imporemenh whidt meterialy change the same er Nte use thereof, without tM wrinen convent of d+e Mortgagee, and in 1M event o/ etty violation a enempt ro violaN this stipulation Mis rnorpage and an sun» secwed hereby atoll :m- tttadiaNly baome des and eollectibN at the option of the Mortgagee. 13. Nis specifically agreed that tiny is of tM essence of Mis central and that no waiver of any Ob:igation hereunder a of tM obligation secwtd Mreby shall at any tints be told ro be • waiver of tM tams henol a of tM imtrtrrnMt saewed hereby. 14. 1/ faxloawe poceedings of any sxor:d mgngage a second trwt deed or any junior hen of any kind should M irgtiluted, tM Mortgagee may, at its option, immediately a thereafter declare this mongage and Hte indeMednesa aecwed Mreby-dw end pay+ble forthwiM, and rosy a its option proceed to Iaeslose His mortgage. 13. To tM extent of /M indebedMSa of tM Mongegor ro tM Mortgagor described herein a secured hereby tM Mortgapee is hereby subrogsted ro tM Iran or liens and to tote rights of 1M owners and Mlders thereof of cxA and every rrtortgspe lien a other inctxnbrance on Nte land described herein whicA is paid and/or satisfied in whole a in part ow of Nte pocesds of tM loan deur:bed herein a secured hereby, and tM respKriw I:ens of said mortgages, liens a other .ncumbrsncea atoll be end tM. same and exA of tMm hereby is peserved and shall pass to and M told by tM Mortgagee herein as secwity fa the indebtedness to tM Mortgagee herein described a hereby secured, ro tM same extent that it would Mw been peserved and would Mw been paaui ro and been MId by tM Mortgagee had it been duly and regularly assigned, transferred, set over and delrwred unro tM Mortgagee DY separate deed of aasigrsrrtent norwithstartd.ng tM fat that tM same may be satisfied and uncalled of record, it being the intention of tM parties Mrao Mat the same wilt be satisfied and canceled of record by 'M holden thereof at a about tM tittle of tM rxading of Mis r.toreQage. 16. To pay all and singular the costa, charges and a¦penses, including lawyer's fees, reasonably incurred a wid err any time by the Mortgagee, because of Ma fai:ure of tM Mortgagor to perform, comply with and abide by exh and every eM stipulations, agreements, conditions, and covenants of uid pomisaWy note and this decd, or either, and every such payment shall bear interest from date at the rare povided in said pomissay pore. 17. When any antatnf of money ro be paid by tlr Mortgagor ro tM Mortgagee unde? tM terms hereof shall be in de/auN, a should tM Mortgagor defwN in •ny of tM otMr terms, povisions a conditiaa of this Mortgage, then and in that cane rM Mortgagee sMll haw Nte right, without notice ro else Mortgagor, ro collect and receive from any rertanr a lessee of said mortgaged penises the rents, issues and pof~es of tM rwl estate hereby mortgaged and tM impovemenb thereon, and ro give pops receipts and xquinancas therefor, and after paying •11 commissions of any rental agent collecting tM same, and any reesonable anorney's fees and oMer necessary exparnes incwred in collecting sent, ro apply Me poceeds of such collectioro upon any indebedness, obl.gat:on or liability, 0/ the Mortgagor hereunder. TM right granted tM Mortgagee under thin paayaph sM II be in addition to, and shall nor limit a restrict, any other right a r.ghy granted rM Mortpagee in Mis Mortgage. I 16. H tM Mortgagors ar tM trine of making this Mortgage a subsequent thereto tale. out Irfe insurance designating 1M Mortgagee herein u btnefKiuy w,eh • company sppoved by the Mortgagee a aaa~gro polices to tM Mortgagee for th• pwpose of securirp rM rnortpage loan hereby secwed, then tM Mortgage. shNl i Raw rM right ro pay any pemium acctuirq under said policies, and all sums so expended shah be added to end become a part of 1M pirtcipa) indeWednea sawed by Mis Mortgage and sMlt be paid by the Mortgagor ro tM Mortgagee in twelve cowl consecutive matNtly installments, tM lint rnonMly installment ro M paid es • pan of end in addition to tM monthly payment des txtde? this Mortgage in 1M first calendar month folbwirtg the •:pending of said sum. Swl+ sums so expended ro bear imerest a? the rate at which interest is wYable upon said pirtcipa) indebtedness and eM lien of His Mortgage shall extend to and sxwe rM sums so expended together wits interest rMreon as Mrernbafore p7vided. ~ 19. At mortgagee's option, together with and in addition to tM monthly payment of pincipal and mtaest payable under tM terms of tM riots secured hereby, Mortgagor atoll pay to Mortgagee each month until said note is fully paid, one-twelfth (1/12) of a sum egwl ?o tM annwl premium due for fire, •xtendad coverage, and other Mtard inwrance including flood inwrance, covering the morpaged poperty, Plus taxes and assessments next due on tM mortgsged poperyy (all es estimated by Morpagee) less all sums already wid therefor, and ro be divided by the numbs of months ?o elapse prior to tM date when such razes and assessments shall become delinquent. Said sums shall be MId by Mortgagee in trust or credited to tM pincipal of tM Iwo, so pay said inswance, taxes, and assessments and shall M applied on eM wYmem thereof when due. Any excess MId in trust by Mortgagee when said loan is paid in full sMll be paid to Mortgagor, a his auigns, or personal repsaentatives. In tM event of a default or forecbswe, said wms MId in trust may be applied on any costs o} damages sustained in connection with rite collection of tM nee secwed hereby whether by suit, foreclosure, or orMrwise. Mortgagee may from time ro time at ib op- tion waive, and after any such waiver, reinstate any or all povisions hereof requiring such depotita, by ratite to Mortgagor in writing. While any such waiver is in effect, Mortgsgor sMll pay taxes, assessments and inwance pemiwrts es herein esewhere povided. 20. Margpor shalt comply with eM provsions of any lease, if His mortgage is on • leasehold. If rh;s morrgaye h on • condom~nivm tint, mortgagor shall perform all of mortgagor's obligations under the declaration of condominium or master deed, rM bylaws and regulations of the condommwm project •nd con. stitutnt documents. Mortgagor fwrher covenants that M and tM associaKon responsible for tM operanon of the cordon+imum will observe el of the provn~ons of tM said declaration, and any amsrtdrrtenta rMrero, and of rM Condominium law of tM sole, and will perform all obliganons thereunder; and a fa~lvre ro do so which is not cured within 30 days after notice given by the mortgagee ro tM mortgagor and tM said assocation shall consnturc • default under thin rortgage. Mwpagor further specifically covenants, ties not by way of limitation, that M and tM nsociaGon will observe all of tM provisions of s+~d declaration of condo- minion reletirp ro inwrance coverage. infestation on ` 21. Mortgagor fwtMr covenants and agree: rMt at the rawest of Mortgagee to fwnish a standard termite bond inuring sgainst damage by the buildings now o. hereafter located on tM morpaged property, in such amounts and terms, sod wits such company es appoved and required by MatgagN; and in tM event Mortgagor does not comply wits Mis covenant Mortgagee shall haw the same rights to obtain same as inwrance coverage wider covenant 1t3 hereof. ~,~K 332 ~ cE 1574 s~~r ~;:c-~:ecar~ ac~c3~ PAGE2173 (Signatures on Reverse Side) - - _