HomeMy WebLinkAbout0866 . 7. If owy of the sums of money herein rehired b be not pre?mpNy anti fully paid withiw fifteew (13) Boys heal offer the sowse sewreNy bosoms ties
anti poyobb, or it eocA anti awry the stipubtions, ogreetssewri, conditions anti cownonri o! said promitaory vote anti His mwtgoge, a ei1Mr, ore veal duly
performed, complied with anti abided by, the oggrpote sum wantioned iu veld promissory woh sisoll become ties owd poyobb forthwith er Merwher of
tM opliow of tIN Mwlgogee, os fully anti completely w it said oggrpoh wm of money ww originally atipstbad b b• paid ow wd day. ewyNsiwg in
aid prowixory wale or hereiw b the wntrory wolwilhsbwding.
1. Te deWrer b said Mortgagee, eve a before Moreh ISM at each year, ba receipts evidencing Ilse poyewewl d oN bwfstlly iwtposed boas fa the
prsceeding eolendor ywr, to deNwr b sold JNorlgogee, receipts .evidencing Me peysaent of all flews fa public improwswenb within wiwely (90) days afbr
tM some shall become due anti payable and b pay a disthorge wiMin piney (90) days after ties doh, owy end aN gowrwswawta) terries that ttyy M
mode eve the mortgaged property, ow His.rawrlgoge a note. or five owy oMer way rewhiwg from He Mortgage iwdebadMm fecund by Hia matgogy owd
it Mb conditiow be not complied with anti performed, sold mortgagee may Pay such wm or wws which ahoN become port of 11y debt saluted by Hit
mortgage, anti shall bear intenat of 1M same rote w the rworpage wote, Payable semi-ownuolly until paid or sold Morpogee wssy shies shot said rorF
gage debt Hereupon become ties anti payable /orHwiM.
9. It is further covenanted anti agreed by sold parties Hot five IM event d o veil being instituted b forecbw His mortgage, the Morpopee shoN
be enNtbd b opp'y at any time pendieq wch forecbwre suit b the ceun haviwg jurisdiction Hereof ter stet ~ppoinlaynt of a receiver of dl anti sirsgubr
the mortgaged property, and of all the renh, incomes, profiri, iswes anti rownues Hereof, from whatsoever source derived; anti Merostpow it L Mreby
expressly cownonted and ogrteu shot Me court shall forMwiM oppdnt o receiver of sold mortgaged properly, all anti. singvbr, owd of such rewri, is
«~sses, profits, lows and revenue Hereof, from whatsoever sauna deAwd, wiM He caveat powers anti delves of roceiwn )w like Doses; anti such op•
pointsawt shall be mode by such court os o matter d strict right b the Mo?tgogtt, iri successors, Ipel ropresentotives or essigws, owd without roferetsce
b He odequory or inodequogr of the wlue of He proFerty hereby aertgoged, a b Mt selrenry a iwsoNewq of the Mortgagor, anti Hot such newt,
pro6ri, iaowse, iuues anti rawnues shall be applied by such reteirer to the poymewt of the mortgage iwdebtedwsu, coari anti dsarges, oceording b
Me order Df such cowl.
10. Upon any default under the wsorpoge note or He mortpoge, at the optiow of the holder of the saorlgoge nob the awpeid bobwoa o1 the
mortgage note anti any adronces .vwde under it, or Me mortgage, togeMer with interest, shoN become due and poyobb, time being of He essenq of
this cownoN: My waiver o/ any payment under tM note or morpoge of any ilwy shall not, of any oMer lime, be tekew b be o waiver of 1M Nrtws d
Me note or mortgage, anti Me ocnptend of poymenri upon sold indebtedness shoN not consfihh o wisver of Me optiow of the holder of the wob b
oae:erote ropoyment of Me entire unpaid bobnce, unleu tM bolder uprossly g?onri such waiver five w?iliwg.
11. If all or any part of the property a< on interest Herein is sold u transferred by morgogw without wsorlgogN's prior writhe consewt •:dwM
ing (a) Me creation of o lien or tnc~rwbrante wbordinoN b His mortgage, (b) o tronshr by devise, dexewt, ar by operofion of bw upow the death of
o pint tenons, or, (c) Me gran! of any leauhoW interest of Mree years or leu not containing an option b pvrchow, or (d) the croalion d o pur-
chaw money security interest for household appliances, mortgagee may at mortgagee's option, doctors all wms ucured by His mortgage b be iwtasediahly
ties and payable. Mortgagee shall have waived such optton b oueleroh only if, prior b the wb or trawsfer, morlgogq and the persew b whom Ibs
property is to be sold or transferred reach agreement in writing Mot such person is a qualified borrows b He sofisfacliow d mWlpgee exercised
in in sole dixretion anti steal cny modifications of hrrns of the morgage loon os ore required by mortgagee in its sob and obsohth d'acretiets which
modifications may include without limitation Me rah of interest payable on the wms secured by 1M mortgage to o rah os roquested by mortgagee
have been agreed upon.
If mortgagee exercises such option b orcelerate, mortgagee shall moil mortgagor notice of o«e4rotion by depositing veld letter in the Ue'tted
States Moil, postage prepaid, to Me folbsring oddrtu:
Such notice shall provide a t+eriod of not feu tt•.on Mirty (30) days trove the date Me notice is +oikd, wiMiw whicA mortgoger Hey pay Me wm de-
clared due. If mortgagor bite to pay such sums prior to Me expiration of suds period, the ban shall be in defwh and morpogee may, without further
notice or demand on mortgagor, inro?e any remedies os provided for herein upon He even! of defouM.
My waiter of any payment under Me note or mortgage of any tinse shall not, of any other time, be token b be o vroiwr of Ilse terms Of the
note or rortgoge, and the ac~eptonce of poyrnenri upon said indebtedness shall note constitute o waiver of Nte option of Me mortgagee b oaebrote
the ir?debtedneu as provided for herein.
12. If a conveyance should be made by the rrsortgagor o/ else premises herein dexribed, or any part thereof, end shewld site grantee or any subse-
quem grantee wader sa.d conveyance. who has assunstd the mwtgage and indtbtedrtess, be in defauk by vtrlut of a breach of any of Ilse provisiotte
of this mortgage or rtes pov~swns_ol any assumption agreement with the mortgagee, whether a not said auswwption agreertyM ttsodifies tfy tertra d
the nsptgage and ,ndebtedness, then and therefore, tt+e mortgagW hereby consenri to auuwption and the pat?isionl d any Mstwwpfien agrtenaM with
the mortgagee, and to any mod.f.canons of the terms a pov.s:om of the mswtgaga and indebbdrass occasioned by said asawrption agreenaM and dots
fwther hereby grant the mortgagee the right to grant extensions of tint to said grantN without notifitalion d, reithotA ll+e consent d, and without affect-
ing the liablity of stet original rrrortgagor. o. any subsequem mortgagor.
13. Vylsen any amount of mone>, to be pid by the nsortgogor b else mortgpet under fly /stress hared shah be in defavh, a altostld ttte ntorga~or
defavh M any of the other terms, provisions or conditions of this nsorsgage, then in ants case the nyrtgagea shah have the right, without nand b llte
wwrgagor, b cdlect and receive from any tenant or lessee of said mortgaged premises stet reins, issues and profiri Of Ilse real eatab hereby ntarlgaged
and the iretprowment thereon, and to give proper retdpri and acquinances tlserefw, titer p.ying all cotsewissiom of any rental sgarst cdkctirtg Ny same,
and -any reasonable atpntys fees and Whet necessary expenses incurred in cdlecting sang, b apply the poceeds d such cellactiart upon asst' irsdebbd•
Hess. obligation or liabr6ry, of the mortgagor hertswsdtr. fibs right granted the mortgagee under psis puagraph slyM be in addition b, and shah not limit
p resNK1, any Whet .fight or rights granted the rnptgagte in this rnortgigt.
j 14. that in the ertnt the premise hereby myrtgaged, w arty part thereof,- shall be condemned and taken for public use trrtder tM power of srwieawt
dorwaus, sla Mortgagee shall have the right b demand that all dansagts awarded for the takrsg of a damages ro said preniws tJsaN be paid b Net
Mongapee up b Mae amount tMn unpad on Mis nyrpage and at Nee option of the Mortgagee may be applied upon tlr peyrttenls text payabM Nsareor?
13. The rrsortgago. binds himself not b erect a. permit b be erected any new buildigs ow else premises hareits ntortgaped a a geld b or permit
b be gelded b any of tM exisung improvements thereon p masks stay chwsgts or alteration in fait inpovensenrs which rwaterially tl+rspe sly same or tM
! caw thereof, withaVt the wr~nM consent of tM Mortgagee, and M Ny event of any violation W attempt b riolab Hie slipVletieft title sltorlgege Mtd aN
soma assured Mreby shall immediately becony ties and collectibb al Nta option Of Nee Mortgagee.
11. It fie specifically agreed that tirtta fie of tlsa essersce of stele eontrad and N?at ttp waiver of any Obigetion hereswtdor or of NN obKgMien aacstted
Iteeafslr shall at any ti.rse bt held b be a wuivtr of the terms Iyreof M of sty itsatrtrwtewt aacund Mrebll. .
17. If. laeclowre proceedings of arty second nyrgage or aednd trust dead or any junior lien of any kind aheuld ba instituted, site Mortgapae may,
at its option, irirriediately or thereafter declare His mortgage and sly iesdebtadntss secured hereby ties and payable forthwith, and may et fib option groped
b foreclose this ntongape.
d lfi. To tl+s extent of the indebtedneu of the INorsgago? b else Morgsge• dexribed herein or secured Mreby Nse Matgapee N bredy atrbroga/ad b
Ay lien or liens and b she rghts of the owners and holders Nseroo/ of eacA and awry mortgage lien a other irtarntbiartoe an Nee lartd described herein +
proceeds o1 Me ban dewibed herein or severed
which fie paid and/or satisfied in whole o. in part out of tM Isereby, and Nee respective Matta d acid
€ wsorgagn, liana a other incumbances shall be and life aanr and sods of Hem hereby is peserved and t pass b and be held by Nse Malpagae heroin
5 w eeanity for the indebtedness b the Mortgagee herein dtxrrbed or ly.eby secwed, b the saint extent Hat it would haw been preserved end would
haw been passed to and been held by the Mortgagee had it been duly and regvl+rh assigned tranferred, set over and deliwted tmtb the Morlgapae by '
aeperab deed o/ ass:gruncnt notvnrhstandinp sly fact 1Mt llte eery may be satisfied and cancelled of redid, it big the itstention of the parties ftereto
Nye the rarrse will bt saGSfied and cancelled of rocerd by tM (solders Ntartol M or about 1M time of the reprdirtg of Ntis rwrtpage.
11. To pay all aed singular tjse corn. cha.ges-and expanses, tncludirg lawyers tees, reasonably inevrred oy paid et any time by the Mortgagee,
because d the Isilun of the Mortgagor b pattern, comply with and abide by cads and every else stipulations, agrelnMMer eortdiliona, and eovertanM d said
promissory nob and this deed, or either, and every st?ds pynyMt sl+aN hew interest bores date at the sans rate as the ntorgapt ryN.
y IN WITNESS WMEREOf, tM said Morgapo? Itereswsb sets ItM bend and oast thin Nse day etsd veer flat ab~we wtrMlwf.
i
I / _
Squad, fooled, and dslMred ~ ~:.L ....(SEl1l)
~ in tM presence d:
WIL E. "
-J-- j" JEANNE G. REAG
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IAA h1 - ....(sf:K)
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