HomeMy WebLinkAbout28403. To pay all and aingular the coata, charges and expenaea, includi»8 laWy~er'a jeea. sea-
sona6~ly incurred or paid at any time by said Mor~gagee because of the failure on the part of the
• said Mortgagor to perform. mmply with and abide by each and euery the stipulations, rnndi•
tions and couenants oj said promassory note and this deed, or either, and every such payment
shall bear inter+est jrom date at the rote oj 11 per cent. per annum.
4. To keep the 6uilding now or herea ter on said land ireaured in a sum not less than
ful l insurable value ~ in a compan or companies to be approved 6y
said Mortgagee, and the policy or policies held by and pa.ya ~le to saul Mortga~ee, and in the
event any sum oj money becomes payable under auch po[icy or policies, the Mortgagee shall
haue ihe option to receiue anr! apply the same on account oj the inde6tedness her~eby secured or
to permit the Mortgagor to receiue and use it, or any part there~of, for other purposes, tuithou!
thereby waivang or impairtng any equity lien or right under or by virtue of this mortga~e, and
ma~- place and pay ~or such insuronce or an,y part ther+eof. without waiuing or affecting the
option io foreclose or any right hereunder, and each and euery such payment shall bear intereat
jrom date at the rnte of 11 per cent. per annum.
5. To permit, commit or suffer no waste, impairment or deterioration of said property or
any part thereo~
6. To perform, comply with and abide 6y each and every the stipulations, agreements,
conditions and couenants in said promissory note and in this deed set forth.
7. Ij of said sums of money herein referred to be not pmmptly and fully paid within
thirty ~~~) days next a/ter the same seuemUy become due and payable, or if each and
euery the stipulations, agreements, conditions and covenants of said promisso~r~- note and thes
deed or either, are not duly perjormed, complied with and abided 6y the said aggregate sum
r.ientioned in said promissory note shall bec~vme due and pa. able fort~iwith or thereafter at the
option oj the Mortgagee as~ully and completely as if the sa~aggregate sum of Twentv Six
Thousand ($26,000. 0) xxxxxxxxxxxxxxxxxxxxxxxxx dollars was orcginally
stipulated to be paid on such day, anything in said promissory note or herein to the contrary
notwithstanding.
8. The Mortgagee may, at any time while a suit is pending to foreclose or to reform this
mortgage or_ to enforce any claims arising hereunder, apply to the court having jurisdiction
thereoj for the appo~ntmeni oj a receiuer, anci sucie couri siuiu 'orthwi~h appoini a receiuer o
the premises and all other property couered hereby, including aljand singular the income, pro~
its, rents, issues and reuenues from whateuer source deriued, and such receiuer shall have atl the
6road and ejjective functions and powers in anywise entrusted by a court to a receiuer and such
appointment shall be made by such court as an admitted equity and a matter of absolute right
to sa~d Mortgagee, and without reference to the adequa~c~+ or inadequacy of the value of the prop-
erty mortgaged or to the soluency or insoluency of said Mortgagor or the dejendants, and such
income, profits, rents, issues and reuenues shall be applied by such receiuer according to the lien
of this mortgage and the practice of such court.
As to the Insurance Policies referred to hereinabove in this Mort-
gaqe Deed, the mortgagees shall be named insureds on all such
policies of insurance.
~n ~ittuess ~hereuf, t/=¢ said Mortgagor hereunto sets his hand and seal the day and
year first a6oue written.
Signed, "Seaied and Delivered in Presence of:
~j~ d~ a~
~ .t~ ~ aQ,t~
,
as:~c~ Pa~f
~ ~
- - r~.~