HomeMy WebLinkAbout0685tender lu lht~'~1ort~-u~;~•r in ur~~urdu~u•r witli the pru~•~.~ious of tt~~• uu~~• ,e~•urcd t~e~~•b~•. full ~u-}•iuc•ut i~I tlu~
enLire indebteduc•~~ rr{,n•;c~•ntrd tht~reb~•, tl~r ~1ort~;n}~e~~. a.s trustr~•, .i~Hll, ~n ~c-n~~,uti~~K thr uuu,u~~t „( su~~i~
indebte~lttc~, ~•r~•~lit tu tl«• M~•~•uwN uf Ilu~ ~lurt gnRur un~~ ~•rrdil 1-alun~•~~ r~•inai~rin~; u~~il~•r th~• pru~•~~~u~„ o( (et~
of ssid puraKr~spl~ 'l. It Ihrn• sl-all br e drlault ui-der ut~y c~t U~e provi~-ui~s o( tl~is inurtgnK~ rr,ul~in~ in «
PLL~IIC ~9I@ OI l~~P j1TPin~.~•s ~•u~•ercd lu•rc•b~•, ur if thc• ~lortKagrr aryuirrK th~• pr„~N•rt~~ o~hrra~i.~~• uft~•~ ~I~~fault
the MortgaKee, r~ truyt~•~~, shaU upply. at th~ tun~• o~ the ~•uuin~~•ncNinet~t ;-t .u~~h pr~~•~~r~linKs or a1 Ih~ tinu~
the propert~• ~~ oth~~rH•~s~ a~•yu~n•d, ttie au~uunt the•n rr~~~e-iuiuK +u ~•rrd~1 ~-f \1ortKx~or ~~nrl~~r is) o! ~ieraRra{~h '~
precedinK aet e crNdit on Uu~ ~~itt~rrst n~•~•ru~~~) und un},sid an~l the I,alau~•e t~ ~lu~ pr~n~•i~,al ~h~•n n~n~~n-i»K unpai~l
un said notr.
4. ~ie wnU psy all taxea~ seeeasmente, water tatee, and other government,~sl or municip~! chargee, finee~ o:
imp~sitioaa~ tor w6icb provi~ion hae not t~een made hereinbetore, and in default, lhereof the Mo~tgagee may pay the
eame; and that he will promptly deGver the officisl receiptR therelor to the Mortgagee.
5. He wiU petmit, commit, or auffer no waste~ impairmeut. or deterioration ot c-aid pmperty ot aa~• part theteoi~
except reusonable wear and tcar; and in tbe event of the failure of the Mortgagor to kcep the buildings on eaid
premisea and thoee to be erected on said pmmiaea. or improvementa thereon~ in good repair, the Mortgagce msy
make auch repairg as in ita di~cretion it may deem necxssary for the proper preec.cvat~on tt~ereof~ and the tult amount
of each and every auch payment shall be due and pe-yabte thirty (30) daye after demand, ~-nd ehaU be aecured by
the lien of this mortgage.
6. He will pay all and aingular the coata~ chargca~ and expensee~ including masonable laaryer's feea. snd costa
of abatracta of title, incurred or paid at any time by the l~tortgagee bec~use of the failure un the part of tbe ~Iortgegor
promptly and fully to perfo~m the aqrecmeuts and covenants of said promissory note au:d this mortgage, and tu-id
coets~ ehargea~ and expen.~es shs~l be immediately due aad pa~~able and shall be secured by the liea of thi.9 mortgage.
7. He wiU continuously maintain hazard iasurance~ ot suc6 t,ype ur tvpeR and amounts a.q Aiortgagee may
irom time to time requirr, on the improvementa now ur hereattPr ~-n said prPmis~~. and except w~en payment
Ior all such premiums b-~s theretc~fore beea msde under (a) oI para.Kraph 2 hereof, he witl pav promptlv w•6en
due any premwms thcre(or_ All insurance s!-a!t be carried in companics approved by I~lortgagee and t~e poli-
ciea and reneNals thereof shnU be held by `iort~;agee and have attact~ed thereto loss payable clausee in favor of
and in form acceptable to t6e 1Zortga~ee. In event of loss 6e w~ll give immediate aot~ce by mail to Mortgagee.
and `fortgagee cnny make proot uf ioss if not m~de pron~pUy by ~sort.~;ef;or, and each insurance compsny
ooncerned is 6ereby authorized and directed to make gayment tor such loss dvectl~ to 4Sortgugee instead of
to :llortgagor and `lortge-gee joinlly, and twe insurance proceeds, or any part thereuf, may be applied by ;4lortr
gag~e at ~ta option either to tbe reduction of the indebtednes.9 hereby secured vr to the re~toration or repait of
t6e property damaKed. !n event of [ureclosure ut th+s mortgage, or oLher transfer of title to the mortgaged
properLy ~n extin~;u~shn~ent o( twe indebtedness secured hereby, all right, title, and interest ot the ~14rLgagor
in and to eny insurnnce policies then iu (orce s6e11 pasa to the purch~+er or grantee.
ti. 1i th~~ pr~•ini;~•,. or:w~- prrt Ih~~rrof. 1~~• ~•on~l~•iun~vl un~l~~r tlu• F~w•~~rof rniim~nl ~lo~n:~iu. ~~r:u•yuir~•~1 (~-r
a pttblir uc~•. tl-~~ ~luu~u~:~•s ~tw'ur~i+~~1. Ih~• pr~u•~•~•~k (ur ih~• tiikinR•of, or tlu• ~~on•i~li•ruti~~n f~+r tiw•h eir~~ui;ili~~t~. t~~
t h~~ ~•el~•nt ~-f tlu• full un~nunt ~~f th~~ re•t~~xiaa-~; tu~pui~l itul•~IN~•~iturs ~~•+•un•~{ h~- thi, n~irrt~.-~~;~•. Hri• h~•n•!,~•
:iY:i~t:~~~l tn tL~• ~i~rtKek~~i~. uu~l hi. h~•ir~ ur u.:i~u:. :~n~l .liull t,~• ~-ui~l fnrtl~N•iti~ to s:-i~l \i~+rt~;a}~~~i• ~-r I~iti
assiKn~~• tu iN~ xp~-li~~~l ~~~~ e~•~•nunt ~-f th~~ lu.t iiu~turiu;: in.i~~lluu•nts c~f ;u~-1~ in~lrbt~•~In~•:>: ~-r~~~•i~lF•~i. t~u~~~~~crr.
th~• ~Iurt~;uk~t• or hts :tsatKn~~~•. ~u:~~' t-{ !us ~li~~•rrli~,~i F~u~' ~lirr~•t tu th~• ~I~~rl~~t~Rut, hi: lu•ir~ ~~r :~.:i~,~n~ ,u-~• part
~-r ~ill nf su~•h ~i~cxr~l: procidr~l. th:it if th~• lu:~n u~u:irant~•~•~l ur in~i-r~•~I. t1~~ ~•~rn,~•nt ~~f ~fu• }~u:in~nlnr nr in,ur~•r
~~ ~rbtuin~•i) in a~l~•nn~•~• +~f •~~i~l pa~•nic•t~~.
'~- 'fhe ~fortgagee may, at any time pending a suit u~x-n this c~ortgage, appty to t~e court he~~nq jurisdiction
thereoi for tfie ap~intment of a receiver, and such coutt shall forthwith appoint a receiver o( the pmmises co~~ered
hereby all and siagular, includinR all and singular the ~income, pro6ts, i~sues, and revenues fmm w•hatever source
derived, each and every of which, it being exprnssly un~er~toal, ia hereby mortRaged ss if specifically set iotth and
described in the granting and habendum clauses her~of. ~uch appointment shall t,e made by sach co~itt a9 an admitte~i
equity and a matter o( abs~h±te riRht to said l~iortgaqce, snd without mference to the adequac}• or iaade~~uac}• ~~f
the value of the property murtgagc•d ot to the snlvenc~ ~-r -ns~,-vency of said ~lurtqagor ~r t:~e dt~iendan!s. ~ucn
rents, profits, income, isauc~s, and revenuc.w shall iSe appli~~J by such recei~er according !,o the lien oi tt,is mortgage
and the practic+j of such court. In the e~ent of any d~fautt on the part of the Mortgaqor hereunder, the l~tortqagor
aqm~~s to pay to the ~toctgagce ~n demAnd as a rcasc~nal,-e monthtS• rental for the pmmiges an a~nount xt Icast
ex~~uvaEent to one-twelftt~ (~/iq) of the a~mQate of the tw~lve monthly instalim~nts px~at,te in the then current
ye3r plus tr~e xcti.al amount of the annual taxes, ass~ssments, water rates, ar-d insurance premiuins tor auch year
not covered hy ihe a(oresr~id monthly payment~9.
1~1. In the event of auy b-each of this mortqa~e or default on ihe part o! the ~fortgagor, or ia the evet-t that
any of said aums oi mo~e_y herein reierred to bc not promptly and fully paid a~rnnlin~ to the E~nor hercof, or in the
event that each at~d every t1~e atipulations, agreements, conditions, and co~•ensaGv of ~i~1 note and this mortqag~.
are not duly, promptly, and tully performerJ; th~n in either or an~ ~uch ev~nl, the said sy,qr~•qate sum m~ntioned
in said nute then remaining unpaid, with intPre~t accn~ed to that t~m~, and itll m~nFya r,ecur~d h~mby, shall tx•come
due and pa~able forthwith, or th~reafter, at ttte opti~n of cti~~ `1ortRaRc~. •~.9 fu1,v an~f cnmpletPl~ .~.9 ii ~I! of the
naid eums of monev were originally, stepulatfxl to be pa+d on such dav, anylhint~ in Qa-d notP ~~r in this mortRaRe to
!~P contrarv notuithstandinK; a~c~l th~rruEwn ~~r thrr~aftrr, st th~ ~oti~•n ~~f ax~d ~1~rtRaqee, without notice or
dPmand, suit :-! !aw nr tn et~uity, mny i~ pr~~.u~~nt••d :~.~ if x~l mon~:•Q ~~ur~~d Fiereh-r hx~i matur~d prinr to its instiU~-
ti~,r,. 'Che ~1ortRaQ~•e •mriv fomclo~ thi~ mortRaQv, :-.9 tc~ the smovnt ~~i~~i:~TMi ~:~~ and payable, aRd th~ said
pn•miw~s ~h:.U 'r,e sold t~ satisiv and p;~}• the ~an-e toReth~r w~ith casts, expenses, an~1 allnwanc~s. In ca~ af pnrtix!
[omclos~re ~f tt:ia mortRaKe, the :r.ort~aQ~•d pmmisrs shall t~e sold subject to ~iie continuinq lirn ~~f Ihia r~ur-~aRe
for the amount of the ~)Pbt not thrn due anJ unpai,l. [n such ca,e tt-e provis~ons oF this paragraph ma~ aqa~n t~e
avail~d of thereafter from time W time by the ~1ortRaRee_
~ ~. Ir'o waiver of any covenant 6erein or of the obliRati~a secur~d heret-.• Rhal{ At an~ ti:ne thereaftPr t,c hel:~
to he s waiver of the terms hereof or of the notc ~ecured hPrcb}~.
-~'. The Gen of thie instniment ahall remain in full for~ and Pffect durinq an}• postpnn~ment or ext~nsion of
the time of payment o! the in~Jebte~ines~ or any part thereo! securc~i hereby.
.~~;. I[ the Mottgagor defau{t in any of tfie covPr~ant9 or aErr~~ment9 contain~•~i hem~n. or in said note, then ihe
VlortRaqe~e may perform the xame, and al! expenditures (includin~ reasonabte attorneS's iF~ ~~ made by the ~iortRaqee
in so ~1~~nk• ei~x11 draw ~ntere~t at th~ rate prm•i~lyd fc~r :n tl,~ ~nn~:pul ~n~I~~ht~~In~~~, and she{1 t,~ r~pa~•ahle
thirty (3~31 ~~Rt•q afte•r deman~f. an~1, t~-~-ether with intpr~•~t ar,d ~c~sts ec~ru~•<1 th~reun, slir;il ~~e Sceun•d bv
this mortga~e -
~ i 1'n.~n thc :equFSt ~~f ti~~ ~lortt~a~r•r th~ ~iort~;aeor chnli ~x~~ntn ar.~~ ~1~!iv.•r a:»p~,lcm~~ntxl n~cF or
nota•~ fnr the ~~~m ~~r surns arlcanc~~d bv the• ~[~~rtKR~;~•e f~+r th~ alt~rnli~-n. m~•f~rnizetion. imnrm•~m~nt, me~r--
tPnan~e, or :~pa~r o( said prem~scs, for laxc~ or a.~~~•scm~nts x~;a~nst :he ~en~~ ar~d tu~ e.:-~• other nurpos~ anti~~r-
~zed t~ereund.•c. Said note or notes shall i,e ~cured herel-~• on a parit~ with and ac fully as if thr ad~•ance
evidenced thereby were included in lhe note first described abo~~e. ~aid si~pplPm~ntal notP or n~tes ~hall bear
interest a6 the rate provided (or in the principsl ind~bteclne~c nnsi shatl be pavable m approx~matel~• equsi
monthly pavments tor such period as may bc ~;re~d upon h~ the cre~iitor wnd <l~bt,or. F ailin~; to a~rce on t he
msturity, t~e whole ot the sum or sums so ad~•anccd sh,~ll be Ju~ and pa~~at,1~ thirt~• (3~) da~•s aft~r ~Irmnnd
by the creditor. In no event s6alt the msturicy extend beyoud ~,he ultimate r.~nturity of thP n~te first
described ebove. '
r,x34~ P~r,E ~~
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