HomeMy WebLinkAbout2180mortgage, and, at the option of the mortgagee, imnediately mature the
entire amount of principal and interest hereby secured, and the mort-
gagee, immediatety and without notice, may institute proceedings to
foreclose this mortgage and apply for the appointment of a Receiver,
as hereinafter provided; or the mortqagee may make and pay for such re-
pairs as in its discretion it may deem necessary for the proper preserva-
tion thereof, and the full amount of such payments shall be secured by
the lien of this mortgage and shall at the option of the mortgagee be
immediately due and payable.
5. To perform, comply with_and abide by each and every the stipu-
lations, agreements, conditions and covenants
a. in said promissory note and this deed set forth;
b. in the letter commitment for mortgage loan from mortgagee
to mortgagor dated March 3, 1981, as accepted by mortgagor on
March 6, 1981; and
copies of all of which are on file and available for inspection at the
offices of both mortgagor and mortgagee. If any of the sums of money
herein referred to be not promptly and fully oaid as the same severally
come due and payable, or if each and every the stipulations, agreements,
conditions and covenants of the above iteras a and b, or either of them,
are not duly performed, complied with and abided by, the aggregate sum
mentioned in said promissory note, or such part thereof as shall then
be disbursed, shall become due and payable forthwith or thereafter at
the option of the mortgagee, as fully and completely as if said
aggregate sum of money was originally stipulated to be paid on such
day, anything in said promissory note or therin to the contrary notwith-
standing.
6. To execute, acknowledge and deliver, from time to time, such
further instruments as mortgagee may require to accomplish the purposes
of this mortgage, including, without limitation, Uniform Cormiercial
Code financing statements and continuation forms.
7. To deliver to the mortgagee on or before March 15th of each
year, tax receipts evidencing the payment of all lawfully imposed
taxes for the preceding calendar year; to deliver to the mortgagee
receipts evidencing the payment of all liens for public improvements
within ninety (90) days after the same shall become due and payable,
and to pay or discharge within ninety (90) days after due date any
and all qovernmental levies that may be made on the mortgaged property,
on this mortgage or note, or in any other way resulting from the
mortgage indebtedness secured by this mortgage.
8. Until default in the perforniance of the covenants and aqreements
of this mortgage, the mortgagor shall be entitled to collect the rents,
issues and profits from the premises hereinbefore described, but in
case of a default in any of the terms of this mortgage, or the filing
of a complaint to foreclose this or any other mortgaqe encumbering
the within described property, the mortgagee shall immediately and
without notice be entitled to the appointment of a Receiver of the
mortgaged property, and of the rents, issues and profits thereof, with
the usual power of Receivers in such cases, and such Receiver may be
continued in possession of the said property until the time of the
sale hereof under such foreclosure and until the confirmation of such
sale by the Court or by operation of law.
9. In the event the premises hereby mortgaged, or any part
thereof, shall be condemned and taken for public use under the power
of eminent domain, the mortgagee shall have the right to demand that
all damages awarded for the taking of, or damages to, said premises
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