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Home My WebLink About2066. . .. . ~ o o-- -_~ ~ ~ ~ ~ ~ :; _ tende~ to ti-e ~1u~tKn~~~r in accordane~~ witli the provisiona of thr not~ secu~ecl hereb~•, ful) payment, ot the er-tire indebtedness reprr~rnlyd ti~e~eb~•, the ~1or~~;agee, us trus~ee, shall, in computinK thP anioun~ o~ auch indebtedness, c•redit to tl-e account of tl~~• \turt~;u~;ur ou~• ~•redit Lalunce n•~nainin~ und~r tl~r pro~ isions of (a) of said paraKrnph 2. If then• shall tx~ b defsult under any ot the proviyions ot Il~is n~ortga~e rnsulting in a public sale ot tl-e preiui~~~s ~•overed I~rret,~•, or if tl~e ;11artKagi~e acyuires the pruNerly otherM~se aRer detaull, the Mortgegee, ua trustee, shall appl~•, at the tuue of the ~•u~uu~encrinent o~ such proceeclings or at the limP the property i9 otherwise a~•yuired, ttie amounl then rt,~uaininK ~o ~•redit of MortKagor under (a) c-t paragrapL 2 precedin~ a.r a rr~~dil on the intrrest accrued and unpaid and the balance to the principal th~•n r~ma~nin~ u~peid on saici notr. ~. He will psy e-11 taxee~ aeeeaemente~ water raLee~ snd other govcrnmentsl or municipsl chsrgee~ fines. os impoeitione~ for whic6 pmvieion hae not been made hereint,efon, snd in detault thereot tha Mortgagee msy psy tbe eame; and thst he wiU promptly deGvc~ the QH'icisl receiptn theretor to t~e Mortgagee. 5. He will permit, commit~ or sufTer no waete, impairment, or deteric~ration of eaid property or any part thereot, except reasonable wear and tear; and in the event ot the tailure of the Mortgagor to keep the buildinga on eaid premisea and tho8e to be erected on said premiseA. or improvements t6ereon~ in good repair, the hiortgagee may meke euch repaire as in its discretion it msy deem necessary tor the proper preac.rvation thereot~ snd the full amount oi each end e~•ery euch payment shall t,e due and payable thirty (30) dsye after demand~ and e6sll be eecured by the lien ot thi9 mortgage. 6. He wiU pay aU and aingular the costa~ chargea, and expeneee~ including reasonable lawyer'e fees, snd coets ot abstracta of title~ incurred or paid at any time by the Mortgagee because of the failure on the part ot the l~tortgagor prowptly and fully to pertorm the agreemeats and covenants of eaid promiesory note and this mortgage, and eaid coete~ charges, and expenses shall t,e immediately due and payable and shall be eecured by the lien of ihie mortgage. 7. fie w-ill oontinuously msintain hazard insurance, ot euch t,ype or Lypee aad amounta as Mortgagee may from time to time requue, on the improvements now or heresiter on said premises, and e~cept when papmen~ for all suc6 premiums hag t6eretotore bcen made under (a) of paragraph 2 6ereof~ he will pay promptly when due any premw~ns thcretor. All insurance st~all be carried in comparues approved by I1lortgagee and the poli- cies and reneN•als thereof shnU be held by `tortgagee and have attached thereto loss payable clauses in tavor oi and in torm acceptable to the ~fortga~;ee. In event oi loss 6e w~ill give immediste not~ce by mail to Mortgagee~ and ~tortga~;ee ~noy make proot ot loss it not made promptlp Ly Mortgagor~ And each insuranco company concerned is herf•by authorized aud directed to rnake payment tor such loss directly to 141ortga~;ee instead oi to ~lortgagor and `tortgugee joinlly~ and the insurance proceeds, or any part therec~f, may be applied by I14or~ gagee at its option either to the reduction of the indebtedness herebf secured or 6o t6e restorat~on or repair of the propert} dama~ed. In event of toreclosure of this mortgage, or other lranster of title to the mortgaged properly ~n exlin~;u~shment, of the indebtedne~s secured 6ereby, all right, title, and interest ot the blortgagor m and to any insurnnce policies t6en in torce s6sU pass to the pure6~er or grantee. !t. If tlu• pr~•iui;~~., ur :~n~ !-art tlr•n•~~f. L~• ~•~m~l~~~~~nt•~I un~l~~r th~ ~~w•~•r of ~•n~i~u•nt ~loni:ii~~, ~,r urquin~~l for n puhlii• u,~•. th~~ ~lainuk~•~ u«-arde~~1. tl~~• pr~~~~~~~•~Is fur tl~~• tukin}~ of. or th~• ~•umi~l~~ruli~~n f~-r su~•1~ a~•~~uis~t~~in, to th~• r~t~•nl ~d Ih~• fuil uiuuunt of Ih~• r~•~u~unin~; un~»-i~l iu~l~~l~t~•~In~•~s c~•run•~1 h~- tliis nu~rt~-a~-~•. urv• lu•rnb~- uxsi};n~•~I t~~ t4u• ~l~-rt~-a~;~~~•. un~l h~. lu•ir. „r u•.i}~n:, :~n~i :I~:~II I,~• ~-~~i~l fortl~w•ith to ,vi~l ~i~-rt~i-~~~~~ ~~r liis ns.i~;n~~~• t~~ 1,~• z~{-1-1i~•~I un a~•~•~-unl uf th~~ lu:t ~~iutunii~ in;ti~lluu•nts ~~f .u~•!i in~l~~bt~~~ln~~ss: ~-n~~•i~l~~~l. hu~c~•~•rr, Ihi~ ~1~~rt~;uk~•~~ ~~r hi+ :t.~i~n~•~•, ~n:i~- :tt liiv ~li.~•re•Iwn ~-:~~- ~lir~•~1 l~~ th~• ~inrt~;~~~ur, his lu•ir~ ~-r :~~,~~n~ ut-~• pt~~t or uU uf •iu•li ~~~cer~l :~-r~~~•i~lr~l. th:i~ ~f ti~~• I~~:in -. ~u:~r:~ut~•~•~1 ur iusurt•~I, th~• ~~ons~•nt ~-f th~~ Kuart~tU~,r ~-r ii-sun•r is ~-htxin~•J ~n n~l~•an~•~~ ui .ni~l pa~~-iu~•~it. :+ 'ChP ~Iortgagee may, at any time pending a suit upon lhis mortgage~ apply to the court having jurisdiction thereof tor the appointment of a receiver, and such court shall (orthwith appoint a recei~er of the premises covered hereb~ all and singular, including all and singular the income, profite, issuea, and revenues (rom whatever source deri~eJ, each and e~•ery of which, it being expressly understoal, is hereby mortgaged as it apecifically set (orth and described in the grantinq and habendum clauses her~of. Such appointment shall be made by su~h court as an admitted equity and a matter of at~solute right to said 1liortgagee, and without mference to the adequaey or inadequacy of the ~•elue of the property mortgaged or to the solvency or insolvency ot said Atortgagor or t`-e defendants. Such rents, pro6ta, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such court. In the event of any dF(sult on the part of the ~iortgagor hereunder, the Diortgagor agrees to pay to the ~tortgagee on demand as a rea~naLle monthiy rental for the pr~mises an amount at lcast equivalent to one-tw~lfth (~2) ot the a~regate of the tw•elve monthly instullm~nts payable in the then current year plus the actual amount of the annual taxes, assessment~e, w$ter rates~ and insurance premiums fot such year not covered by the aforesaid monttily pay menta. 1t1. In the event of any b-each of this mortgage or default on the part of thc biortgagor, or in the event thet any of said sums of money hereiu referred to t~e not promptly sod fully paid accor~ling to the tenor hereof, or in the event that each and every the atipulations, agreements, conditions, and covenants of said note and this mortgage, ~-re no+, duly, promptly, and fuUy performed; then in either or any such evPnt, the said apqregate xum mentioned in eaid note then remaining unpaid, with interest accruecl to that time, an~i all moneys secure~f hemby, shall become due sad payable forthwith, or thereafter, at the option oi ssid biortgagee, as fully and completely ns i( all ot the said eums of money were originally stipulated tn be paid on such day~ 80}'LFI1D~ IQ SAId ~01C OI 1D ~~119 II10f1~8gC LO t6e contrary notwithstanding; and t6ereupon or thereafter, at the option of said Mortgagee, without notice ~e demand, suit at IaR or in equity, may be ptosecuted as if all mooeys secured hereby had matured prior to its inatitu- tion. The ~tortgaRce may foreclose this mortQaqe, as to the amount ao declared due and payable, and the said pcemiees shall be sold to satisfy and pay thc san~e together with costs~ expensea, and allowences. In ca.se of partial tomclosure of this mortqage, the mortguged premises shall be sold aubject to the continuing lien of this mortgage for the amount of the debt not then due and unpaid. In suc6 case the provisions of this paragraph may again be svailed o[ thereaft,er trom time to time by the blortgagee. I 1. No weiver of any covenant hercin or of the obligation secured hereby shaU at any time theteafter be held to be s waiver of the terms hereof or of the note secured hereby. 12. T6e lien of thie inatrument shall remain in full force and ePfect during any postponement or extension ot t6e time of payment of the indebLednese or sny part thereof eecured hereby. I:i- If t6e Mortgngor default io any of the covenanta or agrcementa contained herein, or in said note, then the Mortgagee may perform the eame, snd aU expenditures (including reagonable attorney's fees) made by the MortgaRee in so doinR shall draw interest at the rate provid~d for in ihe principal indPbtedn~ss, and shall be repa~•able thirly (30) days after demand, anJ, Logether wil!- interest and costs accrued thereon, s6all be secured by t6is mortgage. 14. L'pon the request of thc ~tortFa~ee the ~tort~a~or shall execute and deliver a supplemental note or notes tor the sum or sums advancc~i hy t6e ~tort~;aRee for the alteration, modernization, improvement~ main- tensnce, or repai~ of ssid premises, for taxes or a.c~ecsments a~ains~ the seme and for enl other purpose aulhor- ized hereunder. Said note or noles shall be secured hereby on a parity with and as (ully as if the ad~ ance evidenced lhereby were included in lhe note firsl described above. Said s~~pplemental note or notes shsll bear interest st the rate provided tor in the principal indebtedness and shall be payable in approximately equsl monthly paymPnts for such period as may be a~reed upon b~ the creditor and debtor. Failing to agree on the m~turity, the whole ot the sum or sums so advanced shell bc duc and ps~able thirly (30) days a(ter dcmand by t6e creditor. In no event shall tbe msturi~y extend beyonJ the ul~imste ciaturity of lhe note first described above. 6'?~'1l;~''t~7 P"6F~,~.JV~~ ~ - -t ,-_.. ;~