HomeMy WebLinkAbout0206ten~ler tu tl-~~ ~\tortga~;~~~~ in are•urdun~•r w•ith the pro~•i~ii~nc of th~~ tiot~ secure~l lit•r~•L~•, fuli pa~•ui~ut of th~~
entire i~~debtediu•ss rrprt•st•nled tht~rebv. the ~1ort~;agre, as trus~e~N, shall, in con-putinR tht~ an,ount of su~l-
indebteJn~~ss~ cIE'Illl l0'llil• x~•~•ow~t of tiiN 41urt ~aKur uu~• rr~•dit l,alai-cr n•iuuinin~ un~l~~r the• pru~•i~iui~s of (n~
of~said para~raph 2. If tluv~• shnll br u d~fxu~l undPr an~• o! tlit• pro~•iyiuus u( this ~uort~aKr r~~sullin~ in a
public sale ot tl~e prN~ni~~•s ~~uvered Lereb~•, ur i( the ~lortgagre a~•ywres 11-e propert~~ oth~•rwwe aft~•~ dcfault,
ttie Mortgagee, as trustee, s}iall appl~•, at the tun~ of ttie c•o~~u~iencc~uu~nt uf such prorredink9 or ut Ihe tinu•
tiie propert~• i~ uthNrwi~e acyuire~l, IIIP 8t110U11~ lIl(•n rnn~ainiuK tu ~•r~~dil of ~tortKa~;~,r und~•r (a) of }~aru~;raph 'l
preceding aa a~•redit ou the ~ntc~rest ac~rue~l nnd unpuid au~l the t,ulxne~ to tl~e prineipal th~•n rc~+uainin~; unN~icl
on saici note.
4. He wiU pay all taxea~ aseessmenta, water ratee~ and other governmental or municipal c6argee, fiaea, ot
ionpositione,_tor whic6 pmvision has not been made 6ereinbefore, and in detaulc thern~-f chn ~r.,~ooo.~. .,,e.. ..e,..~._
esu~r; iauu taai ue wiu prompt~y ueliver t~e othciaJ rece~pta therefor t,o the Mortgagee. ----- -a-L -~~' `jj ~`
5. He will permit, ~mmit, or sufier no warzte~ impairnuent, or deterioration of said property or any part thereef~
except reasonablo wear and tear; and iu t6e event of the failure of the Mortgagor to keep the beildings on said
premi9es and those to be erected on said premiaea~ or improvemente thereon, in good repeir~ the 141~.rtgagee may
make such repairs aa in its discretion it may deem neoessary for the proper pr-r.ac.rvation thereof~ and the full amount
of eac6 and every euch payment ehall be due and payable thitty (30) daye after demand, and ahall be secured by
the lien of this mortgage.
6. He will pay all and eingular the costa~ charges, and eapenses~ including :easonable lawyer's feea, and coeta
of abstracts of title. incurred or paid at a.ny time by the I~iortgagee because of the failure on the part of the Mortgagor
promptty and fully to per(orm the agreements and covenants of eaid promisaory note and thia mortgage, and said
costs, chargea, and expenses shall be immediately due and payable and shall be eecured by the Gen ot this mortgage,
7. Ho vvill oontinuously mai~tain hazard insurani:e, of such type or typea aud smounts as ~Tortgagee msy
trom time to time require, on t6e impro~ements now or hereaiter on said premises, and e~cept w6en paymeut
!or all suc6 premiums has theretofore been made under (a) of paragraph 2 hereof, he Kill pav promptly when
due any premiums thcrefor. All insuranc~ sl~all be carried in comparues approved by 1lortgagee and tf-e poG-
cies and renew~sis thereof shnll be held by ~lortgagee and 6ave attac6ed thereto loss payable cla~~ses in favor oi
and in form acceptable to the 4iortga~ee. Iu event oi loas he will give immediate notice by mai! to :~Iortgagee~
and ~fortgagee may make pmot o[ toss J not made promptly Ly ~Tortgagor, aud each insurance company
concerned is hereby• authorized and directed to make payme~it for such luss directly to 4lortgagee instead of
to ~lortgagor and 1lortgagee }ointly , and t6e insurance proceeds, or anp patt ther~of, may be applied by :~f or~
gagee at its option either to the reduction of the indebtedness hereby secured or ta t6e rPStorat~on or repair of
t6e pmperty damaged. In event oi foreclosure of this mortgage, or other transfer ot titte to the mortgaged
property in extingws5ment of t6e indebtedness secured hereby, all rig6t, titte, and interest ot the ,\Iortgagor
in and to any i~~.surnnce policies then in furce shall p~-ss to the purchaser or grsa~ee.. ~
~. If tL~• Eirnn~i>~~;. ~~r u~ic p:trt Ili~•n•~~f. i~~• ~•~~n~lriuru•~1 un~l~•r tli~~ ~Nnc~•r ~~f ~•n~in~•nt ~luin:~u~, „r ui•~~t~ir~~~1 f:~r
u ~,ubli~• u.i•. th~~ iliuuu~~~s u~~~urd~•~I. tlu• Pr~~~•~•~•~Is f~~r th~• tukin~, ~-f. ~-r th~• ~•~~n,i~l~•rati~~n fr~r :~~<•f~ u~•~~ui,itiun. tu
th~• ~~~t~~nt ~~f th~~ full uiuount uf t!-~• r~~niuiriin~ ~ui~~ai~l i~idi•I,1~•~In~•s; .~•~•~~r~•~I h~- thi: iuon;,•:-r~•, an• 1~~•r~~l-~•
ai.si~-~t~~l t~~ th~~ ~1urt~;ak~~~•. en~l lii. hrir: ~--• u..~~n,, :i-;~l :I~:il) h~• ~,i~i~l f~~rth~~-ith to ::~i~l 11~~rt~•a~~•~• ur lii•
tt.si~-n~~ to h~~ xppli~~~l ~-n ai•~•~~unt ~~f thr l~;t ~~~:~turiu~ i~~stalln~~•ni. i~f ,u~•L inil~•i~t~~~lne•..; ~-s•u~i~i~•~I, I~~-~c,•~-,.r,
th~~ ~l~-rt}~u~~~~• i~r his a.~i~-n~~~•, n~u~• ut -~iv ~lis~•r~•ti~~n pu~~ ~lirnrt t~~ th~~ ~i~~rtr:~ki-r. l~i, ~u•i~. ~~r a:;irn• un~• E~art
ur ull ~~f su~•h u~~•xni; E-ro~-iil~~d. thut sf tlir lu:~n ~, kii:~r:~nt~•~~~i ~~r insiir~•~I, tlic ~•~ms~•ut ~~f th~• kuurxnt~~r ~~r imur~~r
is ~~htain~•~I in ailrhn~•~~ uf .aiil pi~~-nu•nt.
•~- The ~Iortgs ee may, at any time pend~ng a suit upon this mortgage, spply to the court having jurisdictiun
thereof for the app~tment of a recei~~er, and such court shal) forthwith appoint a receiver of the premises covered
hereb~ all and sinqular, including all and singulr-r the income, pmfit~, issues, and revenues trom whatever source
derived, each and evec~• of which, it being exprE•ssly unde~stoal, is hereby inortgrs~Ced es if specifically set. forth and
described in the gra~tin~ and haheuuum clsuses t-er~~of. Such appointment shall be made by such covrt as an admitte~l
equitS• and a mattPr of absolute right to said 1~lortgxgce, and without.mfemnce to the adequacy or inadequa~y of
the ~•alue ot the pmpert~• m~rtgaged or to the u~l~ency or ins~>h•ency ~f sxi~] Atortgsgur or t}~e defendants. Such
rents, pro6ts, income, is.~ues, and re~enues shall t3c applic~ by such receiv~r according to the lien of this mortgage
and the practice of such court. In the event of any default on the part oE the ~tortgagor hereunder, the tiiortgagor
agrees to pay to the ~lurtgagee on demand as a re~sunahle monti~ly r~ntal for the premises an amount at least
equivalent to one-twelfth (~2) of the aggre~ate of the twPlve monthly installmt•nts pa~•able in the then current
year plus the actual amount of the annual t:~xes, assessmente, water rat,c~, and inswance premiums for auch year
not covered by the aforesaid monthly payments.
lu. In t6e event of any bceach of this mortgage or default on the part of the ~tortgagor, or in the event that
any of said sums of money herein referred to tx• not promptly and fully paid a~~cordin~; to the tenor hereof, or in ihe
event that each and ~very the atipulations, aRreem~nts, conditions, anrl cov~nants of ~iid note and !his mortqage,
are not duly, pmmptly, and fully perforn~~d; theo in either or an}~ such ev~nt, the sai~i ay,Rr~•~ate sum m~ntioned
in eaid note then remaining Unpai~l, with int~rc•st accrued to that tim~, and all mone}•s srcumd hercb~•, shall become
dae and payable forthwith, or thereafter, at the option of ~:iid ~fartgaqec, as [ully ancl c~,mplctel}• as if sl~ of the
esid aums of money were originally stipulated to be psid on such day, an~ thinq in said note or in this mort~age to
the contrary notwithstanding; and ther~up.~n or th~r~after, at the option of said ~tilnrtRagee, witi~out notice or
demand~ SU1L A~ ~.tW (li 1~ Cf]111t0. IIIA}• t~e prosecute~l as if all m~~-se~•Q S£C;;iC~ :;rit'i;~ ,in~~ Ti~utUfet! ~f10~ LO li9 1DSlILU-
tion. 'The :~tort~a~c~e ma~~ foreclase this m~rt~aRe, as to the amoi~nt so deci~re~1 due and payahle, and the said
premises shall -,e sold io satisfv snd ~a~~ th~ ~arn~ togeth~r w•ith cost,g, expc~nses, an~l allr~wanc~s. [n ca.~e of partisl
foreclosure of this mort~rage, the mortRaR~~~1 pr~~mises shall be sold subject to the continuinR lien of this murt~aqe
for the amount o( the debt not then due and unpaid. In suc6 case the provisions c~f this paragraph m~y again t~e
aveited of thereafter from time to time by the ~1ortRagce.
~~. No waiver of any covenant herPin or of the obligation secured hereb~• ~ha11 at an~• tiane thereafter be held
to be a waiver of the terms hereof or of the note sccured hereby.
1''. The Gen of thie instrument ehall remain ~in full force and efTect dunng any postponemcnt or extension o(
the time of payment of the indebtedness or any part thereof secured hereby. ~ '
1~~. If t6e :1~iortgagor default in sny of the co~•ec,anfs or a~rePrn~nts containFd herein, or in said note, then the
Mortgagee may perform the same, and all expenditures (i~cluding reasonable attorncy's fces~ made by the ~fortRaRee
in so doink shall draw• interest at the rate pro~•i~1~-r1 f~~r in th~ E.rin~ipul ind~~bte~ln~•ss, and .hall t~ rnpa~•able
thirty (30) days atter deuiand, and, togettier witt~ interest ancl ~c~sts s~•cn~e~l thereon, shall bc secur~d by
this mortgage.
~4. Upon the requ~•st of th~ ~tort~,~x~e~c~ th~ ~1ort~;a~;~r .hati e~c~cut~~ ~nd ,1<~li~er ~~upp1«~r~~rntal note ~~r
not~~c for the sum or sums ad~•anced by lhe \iort~-a~;e~e (or the alteration. mo~iernization, ~mpro~-~m~ns, main-
tenanre, or repair of said prcmisFS, for ta~e~ or a.s.~~•csm~nts a~;a~nst the same an~l for ea~• othrr pur{,ose authar-
ized Lereunder. Said note or notes shall be secumd hereby on a parit_v with ar~d as fully as if I,hc ad~•ance
evidenced thereby were included in t,he note first described abo~ e. ~aid siipplemrntal note or notes shall bear
interest at t6e rate provi~lcd for in the principa) indebtedn~ss an~l shall be Pa~•ablc: in approximately cqual
monthly pavments for such period as may be a~;reed upon b~• the creditor and ~lcbtor. Failin~ ta a~rec on the
maturity, tF~e whole o( the sum or snms sn ad~•anced shnll ~bc due und pn~•ablc thirty (:SO) days sfter d~mand
by the creJitor. In no event shal! the maturity exte4d be}or.d the uitimale r.~atur~ty o( t,he note first,
described above.
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