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Home My WebLink About1606 AMO the sold Mongagor hereby covenonh and agrees with the sold Mortgagee os follows: FMST: That the Mortgagor is lawfully seised of the above described premises in fee sirwple and has good r:glst b se/ owd oonwy the some b the Mortgagee; Mot the sold premises ore free and disdwrged of and frorw o!I toaes, tea tales or ce.tdcwes. judgments. mechorsit s liens and encumbrances of any nature or kind whatsoever and shot the Mortgagor vriM isrl<y .+otront awd defend Mse same to Me Mortgagee, against the lawful claims and demands of all persons wtsorwsoever, and wir sake ssrds fsrrtlser osswwsces ro perfect fee simple title to sold load, in the Mortgagee, os may reasonable be .equired, and w~ pay the several sure of money agreed in Me said note ?o be paid and all installments of principal and a+te*est thereon FrortgsHy .Mew rive, and according b the true tenor and effect of Me sold note. SECOND: That the Mortgagor will pay all and singular the toaes, assessments, levies, and e++cumbronces of every nature on the above described property, and upon Mis mortgage and note, a Me money secwt•d thereby, beio*e dcl.rgoengr thereof and receipts evidencing payment of said rases, assessments, levies and encumbrances shop be depos+ted with the Mortgagee On Or before March 1st of each succeeding year during the term of Mis mortgage; and .f some be not promptly Pad .risen due, 11se Mortgagee may (without obligation to do so) pay the some, or become purchoser,of any lav.tu! ev=dente thereof, o. certificate therefor, wiMwut waiving or affecting any right hereunder and in this mortgage, a •the said note whwh Nws :mortgage secures, ord suds payments or expenditures so made shall bear interest from the date thereof at the rove of 17.17x _ per orrsum. THIRD: TAot the Mortgagor will keep all real and personal property now or hereafter e.+urs++x+ed lay tt+e heo of this mortgage inwred os may be required from time to time by the Mortgagee against kris by fKe, windsbrrw and oMser t~o:ords` cosuohies and contingencies for such periods and for not less thou such omounh as rnoy be required b~ the Mortgagee orsd b pcy prorwpHy when due all prenuums for such insurance. The amosinh of suds inwrnnce. required by the Mortgagee ore expressive of only Hse nsirwnsrrm onsounfs for wfiich said insurance shall be written and it shoN be srrcumbed upon the Mortgagor b so.eto.+ suds odditiorsol irosrronce os may be necessary to meet and comply fully wiM oli oo-irsssrrancc requiremenh contained :n said polraes b the end that said Mortgagor is rsof o co-insurer thereunder. Inssrrance shah be wrstters by o company o. corrsponiei approved by Mse Mortgagee and all policies and renewals thereof shall be held by the Mortgagee. AG detailed designo'iors by !se Mortgagor which ore accepted by Me Mortgagee and all agreements between Mortgagor and Mortgagee relating b insurance, nti.. a:istirrg u hermfter mode, shall be in writing and shall be o part of this mortgage agreement os fuNy as ttsough set larch verbotis herein and shall govern boM parties hereto and their successor ord assigns. No lien upon any of surd pdicies of irittlron[e or upon arty refund a return premium which may be poyoble on the cancellation or termination thereof, st+aa be given b other thou Mse Mort- gagee, except by Proper endorsement affixed ro suds polity and approved by Mortgagee. fads policy of insrrranOe sfwR ha.e affixed thereto o Standard Mortgagee Clauu oaeptable ro the Mortgagee, making oh kris ur kxses under suds poigr poyoble b Ilse Mortgagee os ih interest may oppeor_ In the event any sum or sums of money isecane poyoble theresssder she Mortgagee shall hove the option b receive and apply Ilse same on atxosrnt of the indebtedrsess hereby secured, u b persit the Mortgagor b receive and use it, or any port thereof, wiMtout thereby waiving o? impairing any equity, lien or right :order and by vsrtsre Ol this mortgage. b event of kxs or physical damage to the mortgaged property the Mortgagor shah g*"e isrwediate notice thereof by moil b the Mortgagee and the Mortgagee may make proof of loss if Hse some is not mode prortrptly by the Mortgagor_ in event of foredowre of this mortgage a other transfer of title to the mortgaged property in extrnguistsarerst of rise indebtedness scarred hereby, oR right, title and interest of the Mortgagor in and ro any insurance pdicies then in force sfsoM pass b the prrdsoser or grodee: Upon any defouh thereof, the Mortgagee may (but without obligation on its port so b do! place irssurarte ow t+rrdt buildings and pay the prcmiwn and charge such sums so paid ro the Mortgagor and suds u.•nss of money s.• pod rho! boor interest from Ilse date of payment at the rate of 17.172 per orsrwrr~ ' FOURTH: That oU sums of money paid or caused ro be paid by the Mortgagee srr+der the terms of ctrl: more.*goge end herein speafically Provided for, and induding any expenses incurred by the Mortgagee in collection of the sum secured by eta so:tgoge, shall be covered by the lien of Mis mortgage, the some os the sums of money represznted by ttse note wfiid+ tlsa mortgage scares FIFTH: To permit, commit or suffer no waste, impairment or deterioration of sold property, or any port the-eof, and upon E the faik?re of the Mortgagor ro keep the buildings on said property in good condition of repair, the Mortgagee soy dewsad Hte immediate repair of said buildings, or an increase in the amount of security, or the immedwte repoysent of the debt hereby seared, and the foiM~re of the Mortgagor ro comply wiM sold derrsond of the Mortgagee for o period o~doys tlsd ca+stitute o breach of this mortgage, and, of the option of the Mortgagee, aumediatef; mature rise ersfire urr~~ra ~r~l ord interest hereby secured, and the Mortgagee may, without notice, institute proceedings to foreclose N>.s ersortgage, and apply for R the appointment of a receiver, as hereinafter provided. SIXTH: That the Mortgagor hereby promises, tovenonts and agrees b pay the sums of money and snidest as sedioesed in sold promissory note, together wiM any and all other sums justly due ord owing the Mortgagee by Ilse tens: thdei~, and scarred b be paid as :toted therein promptly when rive. If defouh steal: be mode in the payment of the said soon:: of rwasey or ory po?t thereof as provided in the said note or this mortgage, or if the interest that may became due thereon a orry part Msereof shall be _ in defouh ord unpaid for a space of7lFilrl<~M~~D 6E alrs. or should the Mortgagor breeds or fad to cawply with arty otlser oove.rs+t ~ a agreement on the part of the Mortgo~r complied wiM (in ttsose cores in wtsids the option of the Mortgagee of aaeiera- lion is not otherwise expressly provided herein( and such breocls Or ron-compliance continue in existe++ce far o spare ai~~~) days, Men and from thenceforth, of Me option of the Mortgagee and without notice to the Mortgagcx, she whole of sa- pr sum expressed in sold note, together with all other sums therein os well os herein provided for, shall becon+e inwsrediatety due and payable, without notice ro the said Mortgagor. i SEVENTH: That in case it sl>auld become necessary to place this mortgage and the note secured hereby or e=ther of thew, in the hoods of on attorney for collection, the said Mortgagor covcnonfs and agrees month the Mortgagee to pay a!~ cosh, :hcfges and expenses of suds collectan, including reasonable at?orney's fees whether collected by fore+iowre a o*+se*~•=se. ! EIGHTH: That, in Me event any wit is brought upon Mis mortgage, whether 1o fo+eckxe .t, to .efo•n+ =t, o+ c!rrc+~se and or ro enforce payment of any claim hereunder, Me Mortgagee may apply ro any court ho.~+.g iur=sd.ct~ r,c+eof for rs+e g appointment of o receiver of said mortgaged property, os well os the incense, profs, issues and revenxs thereof, e++d t~.r sc.d i ! t 1 ~