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estimated to be sufflcient to pay said items is not sufficient. 1 promise to pay the dit[erence upon
demand. II such sums are held or carried in a share account. the same are hereby pledged to
further secure this indebtedness. The b~lortgagee is authorizeci to pay said items as charged or
billed without further 1nqulry.
3. If Insurance is procured on the life. health, accident or other casualty, or on
the public llability of the Mortgagor payable to the Mortgagee as beneficiary or is assigned to or
pledged to the Mortgagee, the Mortgagee will pay to the insurer the premiums allocable to such
insurance, provided that the Mortgagor pays monthly to the hiortgagee an amount equal to one-
twelfth of the amount of the annual premiums allocable to such insurance. The Mortgagor hereby
promisea to pay said amount to the Mortgagee at the same time as, and in addition to, other pay-
ments made by him to the Mortgagee. as required by this agreement. the installment note, and all
other covenants and promises made by the Mo,rtgagor on account of said indebtedness. Stich funds
may at the option of the Mortgagee be handled the same as tax and hazard insurance funds.
4. This mortgage contract provides for additionat advances which may be made
at the option of the Mortgagee and secured by this mortgage, and it is agreed that in the event of
such advances the amount thereof may be added to the mortgage debt and shall increase the unpaid
balance of the note hereby aecured by the amount of such advance and shall be a part of said note
indebtedness under all of the terms of said note and this contract as fully as if a new such note and
contract were executed and delivered. ~An~ additional Advance Agreement may be given and accepted
for such advance and provisions may be made for different monthly payments and a different
interest rate and other express modifications of the contract~ but in all other respects this contract
shall remain in full force and effect as to said indebtedness, including all advances.
5. That in case of failure to perform any of the covenants herein, Mortgagee
may do on Mortgagor's behalf everything so covenanted; that said hlortgagee may also do any act
it may deem necessary to protect the lien hereof; that Mortgagor will repay upon demand any
moneys paid or disbursed by Mortgagee for any of the above purposes and such moneys together
with interest thereon ai the highest rate for which it is then lawful to contract shall become so much
additional indebtedness secured by this mortgage with the same priority as the original indebtedness
and may be included in any decree foreclosing this mortgage and be paid out of the rents or proceeds
of sale of said premises if not otherwise paid; that it shall not be obligatory upon the Mortgagee to
Inquire into the validity of any lien. incumbrance or claim in advancing moneys as above authorized.
but nothing herein contained shalt be construed as reqviring the Mortgagee to advance any moneys
for any purpose nor to do any act hereunder; and the N[ortgagee shall not incur any perscnal liability
because of anythinQ it may do or omit to do hereunder; ~
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~ 6. That it is the intent hereof to secure payment of said note and obligation whether
the entire amount shall have been advanced to the 141ortgagor at the date hereof, or at a later date.
and to secure any other amount or amounts that may be added to the mortgage indebtedness under
the terms of this mortgage contract;
?. The h'Iortgagor shall not convey the property mortgage herein without the
consent of the Nlortgagee and the assumption by the new owner of the unpaid balance of the mortgage
deed, and in event transfer or conveyance is made without consent and assumption in due form,
then the unpaid balance of this mortgage may be accelerated without notice by the Mortgagee and
the Mortgagee may declare the entire debt due and pa~able.
8. That in the event the ownership of said property or any part thereof becomes
vested in a person other than the Mortgagor. the Mortgagee may,. without notice to the Mortgagor.
deal with such successor or successors in interest with reference to this mortgage and the debt
hereby secured in the same manner as with the Mortgagor. and may forbear to sue o~ may extend
time for payment of the debt, secured hereby, without discharging or in any way affecting the
liability of the Mortgagor hereunder or upon the debt hereby secured;
~ 9. • That time is of t6e essence hereof and if default be made in performance of
~ any covenant herein contained or in making any payment under said note or obligation or any
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! extension or renewal thereof, or if proceedings be instituted to enforce any other lien or charge
~ upon any of said property, or npon the filing of a proceeding in bankruptcy by or against the
Mortgagor, or if the Mortgagor shall make an asaignment for the beneCt of his creditors or if his
property be placed under the control of or in cuatody of any caurt~ or if the Mortgagor abandon any
of said property, then and in any of said events. the Mortga~ee is hereby authorized and empowered.
~ at its option and without affecting the lien hereby createcl or the priority of said lien or any right af
the Mortgagee hereunder, to declare without notice, all sums secured hereby immediately due and
payable. whether or not such default be remedied by Mortgagor~ and apply toward the payment of
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