The URL can be used to link to this page

Home My WebLink About1806- • - - ~ - - o o- --- testier to the ~loetgaoee. in acrorda~ce with the prori3ions of flee note secured Iterate, full payttient of the entire itdebtedness represented thcreb~, the ~lortgsgee, as trustee, shalt, in computing the amount of such indebtedness, credo to the account of ttte Mortgagor any credit balance remaining under ttte provisions of (a) d said paragraph =_ It there shall be a default under am of the provi9ions of this rrtortga~e resulting in a pnbiic sak d the psemiaes covered hRrebr, or J the ~tortgsgre acqurres the property otherwrse after default, the !-lortgaglee, as trustee, shall apple, at the tiau of the canrtreneement of such proceedings or at the time the property m otherriise acgoired, the amount then rrntainit-g to credit of Mortgagor under.(s) of paragraph 2 prroeder6 ss a credit oa the interest accrued and unpaid and t to balance to the principal then rernainrng unpaid on said note. i Bs will pay a>t tases~ asseameats, water rte, sad other governmental or municipal charges, fins. os ispoai~ioasr for tsiield peoviiios bas sot bees made htreinbdoee, sad in default thereof the Ddortpgee tnaY paY ~ Satre; sad fiat lts wiY promptly delver the oicial reeapts therefor to the Mort see. ~ He wiD permit. commit, or strQer m waste, impairment, or deterioration d said ProP~Y or an part thereof esc+ept reasoaiabie sear anti tray; sad is the event d the failure d the Mortgagor to keep the buildings on ssi~ pcesists asd those to be erected as said premises, of impwremeats thereon, in good repair, the Mortgagee may make svah repairs as u its discretion it may deem neoeasary for the proper preservation .thereof, and the toll amount ~ rmeat a6dt be due sad pa3-sbk thirty (30) days titer demand, and shall be secured by d abetraets of try, iat:urre+d ~ at an t~ime'U ~~~` ~~ k lawyer's fees, and costa y by ortgsgee because d the failure on the part of the Mortgagor provpth sad fuIIy to perform the agreements acct covenants d said pronnissory note and this mor~~ge, and said posts, charges, sad expenses shall be immediately due sad payable sad shall be secured by the lien of this mortgage. 7_ He sii8 contmaously maintain hazard imuranae, o! such type or types and amount as Mortgagee may bvv time w time regwc+e, os the improvements sow or heraftcr on said premises, sad except when payment for a8 such premiums bas theretofore been made under (a) of paragraph 2 hereof, he will Pay Prom tl when due any premrtrms therefor. till insurance shall be carried in eompanus approved by I1lortg ee an. rye lt- ag h ' cica and resesa~ tbered shall be held by Mortgagee and have attached thereto bas payable clauses to favor of acct in form acc+cptabie w the ,iortga~ea . In event of loss he will give immediate notice by mW to Mortgagee, and aiortssgee may imake prrwf d toss d rot made promptly by Mortgagor, and each insurance company eonc+erned is beret wtbortred and directed to make payment for such loss directly to Mortgagee instead of to ~iotrtgagor and ~tortgag~ce IaatlJ, and the insurance proceeds, or any part thereof, may be applied by Mort- gagee at its option ember to the reduction of the indebtedness hereby secured or b the restoration or repair of the p~ope:tJ dama~ed_ In ere~at d [oreclosuro of this mortgage or other transfer of title to the mortgaged property m estrcguishmrnt of the indebtedness secured hereby, ab right, title, and interest of the Mortgagor ra anti to anJ tnsurasoe pohcres then in force shall press to the purchaser or granfRe. c li ti,r- per„-i:.-t. or sn~- part tl-rrw,f. by rnndru»te.l under tht• power of eminent don,utn, e,r at•quired for a public u=r. fix da,ua~s asanlhl. tier prw-r.•.is for the takinK ot, or the ~onsid:•ration for such at•yuitiition, to tl~- extent of tl,r full amount of tl:e_rrn-aining unpai.l intiel-te.lness sw•urec) by this utortgaKe, am hereby ~i~,r,evl to t~;T \l..rt~er_ serf E:~ lceirs or et`~~i~r~., seal :hell t-c• pai.l forthv-ith to said \iortgaKee or his a;~rF-c,er to i~r apid~r.l an a.~-cuut .-i tt,P ha ,uaturu-~ it~tallu~rnts of su.-h indebtedness; pro~•i.iPtl, hov-e~•er, tl,r \fort~a~f.- (.r r+s r-~~nnr, ::,a. at his ,li•.-rrtN,n ps.- dis.ti-t to the Mortgagor, 1-iS heirs or ussiKns any part ~x all cf ~ur2: asanl: pro•-r,lwl. that if the ;ua:, „Ku:trsntw•.i or insured, the consent of the guarantor or insurer iz obtau,.,! ,n a.icarKr of .a:.l pay:-irnt. ~ 'Ibc \tort~,gec mar, u say time pending a suit upon this mortgage, apply to the court having jurisdiction Hereof for tl•.e appomtmcrst of : reeeii~tr, sod such court shall forthwith appoint s receiver of the premises covered hcrebr a8 sad angular, including aII and angular the income, profits, issues, and revenues from whatever source dtrived, each sad rs~en of whidi. it being e:presslr unde.-atood, is hereby mortgaged as if specifically set forth and desci-:bc+d in the paat~ sad habeadum clauses hereof. each appointment shall be made by such court as an admitted equity sad s matter d atsotute rat to said fiortgsgee, and without reference to the adequacy or inadequacy of the satire d the t~rtr mortgaged err to the aolreacy or insolvency of said Mortgagor or the defendants. Such Beats. profits iacoot; issues, sad resenues shall be applie.l by atich receiver according to the lien of this mortgage asd for practice d such court. L tie Brent d any default on the part of the Mortgagor hereunder, the Mortgagor apeea to facer to the m«tg,~t os demand as a reasonable monthly rental for the premises sn amount at least equiraleat to oar-ts~rlftb (!~2t of the ag~e~-te of the twelve monthly irsstallmenta payable in the then current year p~ the actual am~ouat d the annual taxes, sasesaments, water rates, and inatiranee premiums for ouch year mot cos~ere+d by the aforesaid monthly Paymeats- 10_ L the e~se~ot d car beach d this mortgage or defauh on the part of the Mortgagor; or in the event that say d said cams d mostr herein referred to be not promptly and fully paid according to the tenor hereof, or in the et~t that each sad es+err the etipuhtioas, agretments, cooditiom, and covenants of acid note and this mortgage, are sot duly, promptly. anti fuUr performed; then in ether or any such event, the said aggregate sum mentioned a said ache rhea ram:iaisg ®paid, with iate~rest accrued to that time, and all moneys secured hereby, shall become due and P_~~ forthwith, or thereafter. st the option of said Mortgagee. as fully and completely as if all of the said sums d mosey were orig(~aa8y stipuhted to be paid on such day, anything in said note or in this mortgage to the eostrarr sots,itlsstasdisg; anti thereupon or thereafter, at the option of said Mortgagee, without notice or demand. sa>it u law or is egtaty, may bt prosenitcd as if all moneys secured hereby bad matured prior to its institu- tion. 7lie ~iatgagee mar foreclose this mortgage, as to the amount so declared due and payable, and the said premises shall be sold to satidr sad par the same together with costa, expenses, sad allowances. In case of partial foreelo~arre d this mortgage, the mortgaged premises shall be sold subject to the continuing lien of this mortgage for the amwatt d the debt sd thee due sad unpaid. In such ease the provisoes of this paragraph may again be avsa~ed d thereafter from tint to time by the mortgagee. i 1. Igo sraiiser d asy eoseaaot btrria o: d the obligation secured hereby shall at say time thereafter be held to bt: a ta~airrer d tit tetras ht3eot err d the note secured hereby. 12_ Ttie Iles d tiffs iaatrti0est eha8 remain is full force and eHeet during any postponement or extension of Lit time d payment d tie i~deb~tedscas a any part tbered secured hereby. 13_ li tit Mortgagor defauk is say d the eovensats or agreements contained herein, or in said note, then the Yortgr~gee ma7 Pam ~ ~mr7 anti all expesditrrres (inducting reasonable attorney's fees) made by the Mortgagee iii so doing sia® dens interest at the rate provided for in the principal indebtedness, and shall be repayable thirst. (30) dajs after demand. sad. together with interest and costs accrued thereon, shall be secured by tiffs mortgages - i~_ Cpoo the request of the ~1 the tortgagor shall execute and deliver a supplemental note or notes for the :tuts or sums advanced nr Mortgagee [or the alteration, modernization, improvement, main- Leaaace- err repai- o[ said Premises, for fazes or assessments against the same and for any other purpose author- ized fereaader_ Sad met or notes steal! be secured hereby on a parity- with and as tally as if the advance erideaced tberehy were iadnded m the note first described above. Said supplemental note or notes shall bear oterest at tit rate pe+oridrd for in tie principal indebtedness and shall be syable in a proximately equal oontily P•vmrsts for ss~ period as m:r be 4.r~ upon by the creditor and debtor. Failing to agree on the aattrrity, the stole d the sum a sums so advanced shall be due and payable thirty (30) days after demand b7- the crcditor_ Ia no event shall the maturity extend beyond the ultimate maturity of the note first abd.~ X344 P~i806 -. .'=' - - :~;~ _