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Home My WebLink About2324 7. H owy of tM wore of mon.y herciw referred b b• wet promptly ofd fvNy paid wiMiw fifteew (13) days neat after tM soars severeNy becoere dw cord poyobb. or if aed cord every Me stiprtbtions, ogreaasewq, opwdiliows ad cewwonb of said prorwissary weh and Mris wrortgoge, e/ either ore tact duly performed, complied wiM cad abided 6y, tM ogprpoh wm saeatiowad b veld prowiwry tsote sheN i+ecatee dw cord poyobb forthwith ear MsereofNr sit tM eptiets d the Morpogee, es fvNy cad compbtely as if so(d oggregoh wm of ttsoaey ww orpineNy stipvbted b b• paid ea svd day, eayMdag iw said Pren(sseryl aeh or herein b the contrary aolwithaloadiag. - N. To dealer b wid Morgogee, ow w Mhn March ISM d each year, tat receipb widerrcing the peymewt of oN bwfvNy isposed tattw far 1111 prepediag cabndot Year, b deliver h sold 1111ortoooee. ateipy evidencing Me poyewat of oN liens for pvbtk improwatewts wiM4 aiaraly (90) days after Me some sMN become dw and psyobb cad h pay or d'aclyrga within ninety (90) days ofhr dw doh, wy cad eN gaararwmeahl bvlw that racy M weds on 1M morgeged property. on this eaorgage or weN, w in owy othe? way rewHiwg tom the Morgoge iwdebadaea sacvnd by Mrk morgtsgel end if Mis rendition b. not caeptied rsiM and performed. veld wargogee wary Pay such wm a wms which a1roN become port el the deal secured by thA morgoge, and sMN bear interest of the sane rah ds tM norgoge soh, poyobb semi-owwuolly uatJ paid or said Mwgoyee e~ey abet that veld ~srb flogs debt thereupon beeoere dw and poyobb forMwillr. 9. It a further cownonted and' agreed by wid parties Mot is IM event of a wit being iwslihrhd h hrecbw Mis erorgage, tore Morgagee shoN be entitled b opp:y of oay Awe pending such forecbsvre suit b 11y Coen horiwg juradietion Meraof for the 9ppOlalment oI a reaiwe of oN cad uiagvbt the mortgaged proFe?ly, and of all tM rents, incomes„ profits, iswes cord revenues thareoi, from wMtswver oeuvre derived; cord tberer?pow it i. Mnby eapressly covenanted cad ogrteu that Me court shell forthwiM appoint a receiver of veld morgoged property, atl cad s(ngubr, and of such reari. it? cc.wes, profiri, isswa and rswnue hereof, from whatsoew? wvra derived, wiM Me vwol powers cad duties of receivers b tike cosec: cad such ap• pointtweat shall be mode by wch court os o mothr of strict rigkt h /M Morgogee; iri wcce»ors, bgol rcpresentafiws or ossigrr; cad w'tMout rehrewce b Me odpuogr or iaodequocy of tM velw of Me proFertY Mrcby rwoetgoged, or h the solveary or iasoMewty of the MoAgogsr, cad Mrot such rent. profiri, income, iuues and reaenvea shall. M applied by such receiver b IM poyaaent of 1M morgoge indebtedweas, cosh and dorgas, arrordiag M the o?der of such court. 10. Upon onY default under the morgage soh w the morgoge, of the option of IM holder of the raortpoge soh /M vwpeid babas of the nrorgoge soh cad owy advances nwde under it, a 1M morgope, together wiM interest, shoe become dw and poYebb, tine being of Me eswaa o/ this centracf. Any waiver of any poynynt wader Me woh or mwgope at say itase shall rrot, of oay other Awe, be tokew b M a worwr of tM firma d th• soh or morgope, and Me occepronce of poymeari upon veld indebadness shall not cot?stihrh o w~iwr of the optiow of the holder of tM soh b o«e'eroh repayment d Me entire unpaid balance, unleu the holder eapresslY gronri such waiver in writ(ng. 11. If all or orry port d Me property or on interest herein is sold or tronshrred by morgopw withow mortgagee's prior writtew convent eaclvd~ lag (o) Me craotion of o lien or encar+rbrarrce wbordinete b Mis mortgage, (b) a tronshr by devise, descant, a by operation of law vpow the dwM o! o pint hnont, or, (c) the prom of any bosehold inhrest of Mree (3) ywrs or less not towtoiwing an option h purchase, or (d) 1M «motion of o pur- chose rwoney securiy interest for Muuhold opplwaces, morgogee may of mortgagee's optiow, dacbre all w~ secured by Mb mortgoge_ h be iasnediahly du• and poyobb. Moatgagee shall have waived sucA option b ouekroh only if, prior b Me sob or trons(er,• erergogee and tM Peraen h whom the property is to be sold z. transferred reach agreement in writing Mot such person is o qualified borrower h the satisfaction of mogogee eaeraiwd in iri sok discretion and that any modifications of hrnrs of the mergoge loon os aq required by mergogee in iri sole orrd obsolete d'aeretioa which modifications may include- without hmirof'wn Me rote of interest payable on Me auras secured by tM arorgoge b o rah os regveded by morgogee how been agreed upon. If mortgogq eaercias such option h ortelerote, morgogee short moil rworgagw notice of accekrotion by depositing said b1Nr in Me~United States Moil, postage prepaid, h Me folbwing oddreu: - Such notice shall provide o period of not less Mon Mirty (30) days from the doh Ma notice is .oiled, within which mergogor may goy the mom de- clared dw. If morgogor foih h pay such sums prior h rho expiration of such period, the bun atoll M in de(ovN sad morgogee wrap, without fynMr notice or demand on morgagor, invoke any remedies os provided for herein upon Me event of dafavlt. Any waiver of any payment under Me note or awrgoge a? any time shall not, at oay other Awe, be token h be a waiver of Me Nana of the note or morgope, and the acreptowce of poyraerrri upon sold indebtedness shall not consfitvh a waiver of Me option of the morgopea b otcebroh the indebtedneu as provided for herein. 12. If a convetraace should be made by the mortgagor of the premises Main described, a any Part tlsereef, and should the games a. any subae- quMt grantee under said conveyance, wMe Mss assumed tM rrrortgage sad indebtavierea, be in defauh by value of a breach of any of 1M prairsierrs of this mortgage o. the pevnions,of arry assurrrption agreement wiM ttre mortgagee. whatlrer a< erW veld asstwaplion agrleerrlrM nrodifias Mrs terwss Of tM mortgage and rndebtedryss. rhea and therelae, Nre matga9ar hereby camenb to assumptan and the provisieM of any asstwrrption agraeerreret with the mortgagee. and to any rrrad.l.cat:ona of tM terms a provision of tM rrrortgage and irwlebtederass ecusioered by said assumption agreement and does fwther hereby g?ant ttre mortgagee tM right to great eatlMiena Of Herr! to said grantee without rrotifiution of, willrOlA the consent of, and withosA afhCh lag the liab.hty of tM a.gin+l mortgagor. or any subsequent eno?tgagor. 1S. Wl+en any ~morrr?t of nwnes to be paid by tM enptgagor b Ilre mortgagee warder dre tertrrs hereof aMN a as defauh, er should tht nrottgagor defarrh in any of she abler terns. povisions or carrditianf of this nratgage, than in drat use the mortgagee sMN have 1M rigM, without tsosite b rive morgagor, to cdkct and rece:w Ironr say tenant or. lessee of said enatgaged premises tM rents. issues and pofiM of the real eshN hereby mortgaged and the improvement thereon, and ro give poptr eeceipb and acquittances therefor, afar paying all eannissioea Of arty rental agent collecting tlr! same, and any reasonable arrorneys' lees and other necessary eapenws incurred in collecting same. to apply tore proceeds d such tdlection upon arnl bdebsed• eyss. obligation a liab,lrry, of the mortgagor hereunder. TM right granted tM mortgagee rRrdn this paragraph shah be in addition tq, and shah not Grnif or restrict, say aher right or r:ghri grained tM mortgagee is this mortgage. 11. That in tM event the premises herby rrrortgped, or any part thereof. sMN bt cardsavrsd and rs?en for public use carder tlse power of eminent domain, the Mortgagee shaft Mve the right b demand that all damages awarded for tM takieg of or damages b said premises shah bt paid b Mao Mbngagee up b try sincerer then unpaid on Mis mortgage end al tM eptgn of tl+a Morgpei msy be applied r?iroes the peymeesta tact payable tisaseon. 1S. The rerortgagor binds Airrrsstf not to erect a permit b bf erected arty new buildings on tore premiss herein ngrgapad or b add b a peemif b be added b any of the ea.st,ng improvemenri ttyreon or make ttny changes or a1tt/MieM M said iwrprwenrenri which rrraleriaNy cfrtirrga the sense or flre uw thereof, wrthOUt tht wrrtren consent of tM Mortgagee, and in the event of any violation or attempt b violate this stipulation lhfs nsortgape end ep auras accused hereby shall rmmediatey becomt dw and collectbb a tM option ed the Mortgagee. 1~. It is specifically agreed Mat time is of the ttuence of Mrit aonaatt and that tss waiver of any obligation M?ectedM err of tore ebligetion aecwad hereby shall at any t»ry be told to be • waiver of tl+e hreas Isereof a of tore irrsurrrrrewt waved Isereby. 17. If /orecbwre proceedings of any sewed enoetgpe or weond true t deed or any junior liner of arty k'rd shouh! be instituted, Ilse Morpagea may, at its option, invned,ately a thereafter declare Mis nwrtgage and tM indebtedness secured M?ebY dw and payable torMwith, std may et ib option pteoeed b /oredoae this mortgage. 1~. To dre ascent of tM indebtedneu of the Mortgagor b dse Mortgage• described herein o. seared hereby rise Abrgagee Y Mfebtr eubregated b d+e lien or liens and to the rights of the ovrrers and holden thereof o/ each and every mortgags lien a other irrcwrtbrenoe on tote land described travels whirls is paid end/a wtistied in whole a in pan out of the proceeds of Nre ban dewibed herein W severed hereby, and the tespectine Gene erf said mortgages. liana a other irrcumbrancea shall be and the wetre and each of hem hereby is preseeved and shPtf pass to end bt told by tote Morgagee Mrein w searity for tM indebtedness to the Magagee Mrein dewrTaed w hereto w ~ sawm •:teal that it would have been prewrved end vreuW have been passed to mid been Meld by the Mortgagee had it been duly and regularly auignad, nursterred, set over and delivered tnrto tore Morpegee blr separate deed of assignnatnt notwitMstand,erg the fact that die same may b• eetisfied and eanceNed of record, it being the itNention of the Petlip hereb that tM aaara vriG be wnsf.ed sad cancelkd•of record by Nre holden Mtaewf M a about tore IrtM of the recording of M11a atottge0e, H. Te pay aU rid singular tiro roars, charges end •:psnwe, vrcwd'ng f+wYer's hen, eraeonably trtcttrred a Paid N any Muse br tlae AAorgsgee, becauw of tM /aihrre o/ the Magagor to perform, cowrf?y with and abide by each and every tM atipulatiOM, agreerrraerb, aonditiorrs, end oorenanb d acid Promissory note and this deed. o. a+tMr, and wary sucl+ PayttmeMS sMN bear insaeest from daM of the same ate ss Mae wtttngage crate. IN WITNESS YYHEREOf, 1M said Mortgagor Isereursto eeM his herd and wet Nsis MN day and yew lYtf ebeve ttrt111en Slgnad, meotad, and delMred ~iy--......-~!Q~.j~(Sfl1t1 M the pnwnce d= ,~~,F..;- A~~T'nTri~~ r('cr~Fc~~ c~ rlt. c r ~'~C Nl J rte, ~J ROGE C. MORRIS, PRESIDENT ........8[1t}K PlGE GJ~~ ~ : ~ ~ ~ a S: - . -3