HomeMy WebLinkAbout0924AN~ Me said Morl9aqor he~ebr tovenanff ond oprees wi~h 1he said Mortpcqee o: follows:
FIRST: Tho~ Me Mortyoqor is lowfvllr seized of the cbove dexribed premisei in fee simple and ho~ pood riyht to sell and
convey the some to the Mo~tyayee; -hat the said prem~ses ore free ond dischorqed of ond from all toxes, tox titles o- ce~tificotes,
judyments, metho~it s liens ond encumbrontes of ony nofure or kind whotsoever ond Ihot the Mortqopor will fvlly warronl ond
defend Me same to the Morlyagee, ogoinsl the lowful cloims ond demands o~ oll persons whomsoever, cnd will moke such fu~ther
ossura~ces to pe~fett fee simple title to soid lond, in the Morfgogee, as moy reoson~ble be required, ond will poy the several
s~ms of money aqreed in the said nole to be pa~d ond all instollmenls of principal ond inrerest thereon promptly when due, cnd
occo~dinq to the lrue teno~ ond eiFect of the soid notc.
SECOND: Thot the Mortgogor will poy oll and singular the laxes, assessments, levies, and enc~mbronces of every noture
on the above described properly, ond upon this mort9oge and nofe, or the money secured thereby, befo•e delinqueacr thereof
and receipts evidencinq poymenl of soid foxes, assessments, IGVies and encumbronces shall be deposited with fhr Mortgogee on or
before Mo-th lst of eath sutteeding year during the term of this mortgoge; and ~f some be not promp~ly poid when due, the
Mortgogee moy (withouf obligofion fo do so) poy the some, or become purchose~ ,of any lawfut ev~dence fhereof, or cerfificole
therefor, wiMout woiving or of~ecting any right hereunder and in this mortgoge, or fhe said note which th~s mortgoge secures; and
suth poyments or eapenditures so mode sholl bear interesl from fhe date IhereOf ol the ~ate of ~~N P~ ~i' ~14$)
per on~wm.
THIRD: That Me Mortgagor will keep all reol and personol property now or hereafte- rncumbered by the lien of this
mortgage insured os may be req~ired from time to time by the Mortgogee againsf lost by fre, w~ndstorm and other hozards,
casualties and to~finge~cies for such periods aod for nof less thon such amounfs as moy be reqvired b~ the Mortgogee and to poy
promp~ly when due all premiums for such insuronce. The omounts of such i~surance -equired by the Mortgogee ore expressive of
only the minimum amounfs for which said i~surante sholl be wriftee ond it shall be incumbent upon the Mortgag6r to m~infain such
oddilional insurar+ce as mar bc netessary to meet ond tomplr fullr wifh oll to-insvrante requirements tontained in said policies to
the end Ihat said Mwtgagor is rwt a to-i~suro- thereunder. Insurance sholl be wrilten by o tompony or companies approved by fhe
Mortgogee ond all policies and renewols thereof sholl be held bY the Mortgagee. All detoiled designol~s by the Mo-tgagor
which are occepted by the Mortgagee and all agreements between Mortgogor o~d Mortgogee reloting to insuronce, now existing
or hereaite~ made, sholl be in wriling and sholl be a porl ot this nwrtgage ag~eement as fully os Mough sef forth verbatim herein
and shall gove~n bofh parties herefo and fheir successon and ossigns. No lie~ upon ony of sa~d policies of insuronce or upon oey
refund or rebrn premium whith moy be payoble on fhe tancellafion or ferminalion fhereof, sholl be given to other fhan the Morf-
gogee, excepl by proper endorsement afFixed to such polity and approved by Mortg~gee. fach policy of insuronce ~al) have
oFFixed thereto o Sfandard Morfgogee Clavse oueptable fo fhe Mo~tgogee, making all bss ur losses vnder such politr poyable
to fhe Morfgogee os ifs interesf may appear. In the event ony wm or sums of money become payable thereunder fhr Mortgagee
shall have the option fo receive and apply Me same on occount of the indebfedness hereby secured, or to permit the Mortyagor to
reteive and use if, or anr porf thereof, without Mereby waivin~ or impairing ony equity, lien or right under and by vi-fue of this
mortgage. (n event of loss or physicol damage to the morfgaged propertr the Morfgagor sholl gwe immediate notice thereof by
moil to the Mort~ogee and the Mortgagee mor moke proof of loss if Me same is not mode promptiy by the Mortgagor. I~ eve~t
of foretbwre of this mortgage or other fransfer of title to fhe morfgaged property i~ extinguishment of the indebtedness setured
hereby, oll right, fitle ond interest of fhe Mortgagor in and to any insuronte policies theo in force sholl pass to Ihe purchaser w
gronfee. Upon any default fhereof, fhe Mortgagee moy (buf withouf obligotion on ifs parf so Io do) place insuronce on such
buildings ond pay fhe premium and tharge such sums so paid to the Morfgagor and such sums of money x~ poid shall beor interest
from fhe dafe of payment af fhe rote of F'cii~r't'r-+~n Txr Ce11t ~14$~ per anrwm.
FOURTH: Thaf oll sums of money paid or caused to be paid by the Mortgagee under the terms of this mc~~gage and herein
specificolly provided for, and including any exper~ses incurred by fhe Mortgagee in collection of the sum secored by this mortgage,
shall be covered by fhe tien of fhis mortgage, fhe same as the sums of moner represented by Ihe note which this mortgage secures.
FIFTH: To permit, commif or sufFer no woste, impoirment or deferiorofior~ of soid propertr, or ony part thereof, ond upon
the foilure of the Mortgagor to keep fhe buildings on said property in good tondition of repai-, the Mortgagee may demand the
immediate repair of soid buildings, o- an increose in the amount of security, or the immed~ate repoyment of the debt hereby
secured, and the foilure of the Mortgogor to comply with seid demand of the Mor-gagee for o period of f~ftecn (15) days shall
corutitute o breach af this morfgoge, and, at ihe option of the Mortgagee, immed~a-ely mature the en~ire unpaid principal and
inferesf hereby secured, and the MOrfgogee mar, wifhoui notice, insfifu~e proceedings to foreclose fh~s mortgoge, ond opplr for
the oppointmenf of o reteivet, as hereinofter provided.
SIXTH: Thot the Morfgagor hereby promises, tovenants and ogrees to por the s~ms of money and interesl os mentioned
in said promissory note, together with any and oll other svms justly due and owing the Mortgogee by the ferms therein, and secured
to be poid as stoted therein promptly when due. If defoult shat: be made in the poyment of the said sums of money or ony part
thereof os provided in the said note or this mortgoge, or if the interest that moy betome due fhereon or anr port thereof sholl be
in defovlt ond unpoid for o space of fifteen (1S) dars, or should the Mortgagor breoch or foil to comply with ony other cove~ont
or ogreement on the part of the Mortgagor to be complied with (in those cases in which the option of rhe Morrgagee of accelero-
tion is not otherwise expressly p~ovided herein) ond such breach or rwn-tomplionce contirwe in exi:tence for a space of fiffeen (15)
days, fhen a~d from thenceforth, at the option of the Mortgagee and withovt notice to the Morigagor, the whole of soid principol
sum expressed in said note, togeMer witb all other sums therein os well os herein provided for, sholl become immed~a~ely due and
payable, without nofice to the said Mortgagor.
SEVENTH: That in tose it should become netessarr to place this mortgage ond the note secured hereby or e~ther o( them,
in fhe hands of en aftorney for collection, the soid Mortgogor covenonts and agrees with the Mortgagee to pay oll costs, chorges
and expenses of such collection, includi~g reosonable attorney's fees whether collected by forecbs~re or othe..rise.
EIGNTH: Thof, in the event any suit is brought upon this mortgage, whether to fo-eclose it, to refo~m if, o- otherw~se,
and or to e~forte porment of onr claim hereu~der, fhe Morfgogee may apply fo any covrl hoving jvnsdittion thereof for tAe
appointmenl of a receiver of said mortgoged properfy, os well os the income, profifs, issues and revenves thereof, ond th~ said
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- 2- BOOK~~S PdGE ~2
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