HomeMy WebLinkAbout0934trn~ler tu ti~~~ 11ort~u~~•t• in u~•rurilun~•~• w•ith th~~ E~ru~•~.,ions o~ tlu~ n~~~~• ;r~~urr~! t~~•r~•i,~~. full ~~:«n~~~rit uf th~•
~ntirN in~l~•btrdn~~a~ m{-rr,~~ntrd th~~r~•1n~, tlit• \1ort~;a~~•~~, a,~ tn~.t~~r. ;L:~I1, iu cu~u~,uti~-~; th~• aui~~unt ~~f su~~l~
in~lebteJnc~ss, crr~iit to tli~~ n~•~•uunt ut tL~• ~l~~rt~;a~;~-r un~• ~•n•dit l~alanct• r~•ninininR uu~l~•r th~• ~iru~i.i~~u~: of tn~
of ~aid pura~;raph 2. !f th~~r~~ sl~ail b~• u~l~•fxult utitlrr an~• uf thi~ pruv~~i~-us of thi, inurt~;nK~• r~~,ult.n~ in ri
public sale of the pn•n~~;~•s ~•u~•.~n•d I~rrrb~•. ur if th~~ ~tortKaKre a~•qwres tlu~ Nrupt•rt~• ~~tl~~•rHi•~• uft~•r ~!rliiult
tl~e'11ortKaKee, «.+ tru:~i~~~•, shull appl~•, nt thr tinu• uf tl-e ~~onunt•nrt~n~c~„t ~-f su~•h pru~•rr~iin~;y ur at tl~~~ tii~~~•
tiie pro{~rt~• is otht•r~~•u~~ u~•~~uirr~l, tl~~ anu,utlt tl~~•n n•uiainiuK ~o ~•rr~lit ot ~l~~rt~;a~;ur uiid~•r ;a ~ uf ~~i~ru~retE,}, 'l
precediu~- ety a cn~~lit on ih~• iiitt•r~•st N~•cru~•~1 un~l w-F~aid xn~l thc• t,alan~•~~ to tht• priui•iE~ni tlu•n rru~nlusn~ u~i~,eiii
un said [:utN.
4. He wiU pay all taxee, ase~~smenta, water catee, and other governmenta) or municipal charges~ 6nee, or
impoaitione, for which provision hss aot been made heteinbefore, and in detault thereof the :~iortgagee may pey the
eame; and that 6e will promptly deliver the official receipti+ t6eretor to the Mortgagee,
5. He wiU pernait, cocnmit, or suRer no we.~te, impairment, or deterioration of said property or any psri thereof,
eacept reasonable a•ear and tcar; and in tLe event of the failure of the `Iottgagor to keep the buildings on said
pmmisea and those to be erected on ~aid premises, or improvements thereon, in good repair, the Diortgxgcr may
wake such cepaire xe ip ita discretion it may ~leem necessary for t6e proper pmscrvation ihereof, and the full amount
of each and every such payment ahall be due and payable thirty (30) daye after demand, and shaU be necured by
the Gen of thia mortgage.
6. He will pgy all auJ eingular the cost9, charges, and expenses, including rea~onable ]awyer's feea, e;,d coste
of abstracta of title, incurmd or paid at any tiine by tt~e ~Iortgagee beceuse of the failure on the part of the ~1ort~agor
pmmptly and fully to perform fhe agrermenis and coveuants of eaid pro~ni~ory note and this mortgage, aud said
costs~ c6arges, aed expen~c.~s ~i~.-11 t,e imiucdiutel,y due anJ payable and shall be secured by the lien af this murtgage.
7. fle w•ill continuously maintain hazHrd insurance, of suc6 t~pe or t~ pes and amou~t~q a4 \1~~rtgagee mav
irom time to time require, on tt~e unpm.•ciiients now or hernafter on saiJ premises, and e~ct:pt w6en pa}•mei~t
~or atl such prriniu~ns l,es !t,eretofore becu rnude unde: (a) of paragrap6 2 he:eot, he w•il! pe3 promptl~ w•t~en
due any prem;ums th~refor. Alt insurance stiatl be carried in companic~s appra~ed b_y ~lort~agt~e aud the poli-
cies and renew~alc tlr~reof sl~~U be held b~ ~IortRu~;ee and 6ave atta~•6ed ihereto loss pa~•ablr ~lauses in fe~or of
and in form acceptable to tkee ~1ort~;a~ee. In e.•euc oi lo~s he w~ill give immediate notice b~• maii to ~fortgagee~
and :~IortKa~;ce mt~y make proof of ~~,ss if uot made prompt{y bg ~lortgagor, acid each insurance company
concerned is hereby autt~urized and directed to make pa~ me~t for such luss dvectl~• to ~iortgx~ee instead of
to ~tort~agor and `tor(~;x~;ee jointl~, and the insurance proceeds, or any part thereof, may t,e sppGed by ~iortr
gagee at ~ts option either to the rec~uclion ot the indebtedness 6ereby secured or to the restorat~on or repair of
t6e property dama~ed. In e~ent oi foreclusure ot this mortgage, or o~her transfer of title to the mortgaged
Property in e~tin~;uishment of the indFbtedness srcurPd herebp, all right, title, and interest of the \furt~;agoe
in and to any ic-surunce poGcies then in f~,rce s6a11 p~-ss t,o the purc6a~er or grautee.
~. If tlu• ~-r~•~ni:~~:, irr :in~ ~r~rt Ih~•r~•ul, hi~ ~•~~-i~lr:n~~~•~1 utul~•r tlu~ ~;~~~c~•r uf ~•iniui•n! ~lun~:ii~,. ~~r ,u•~~uir~~~i f~~r
t- F~ul~lt~• ~~sr. tl:~• ~luiu:~~~•. tt~~'ur~l~•~1. th~• Fn~~~ ~•~•~I~ ;i~r thi~ t:tkis~t' u~. ~-r tii~• ~•„ti:~~l~•r:iln~n l~~r .i~~~ii iu~~~iti<iti~rt~. t~~
th~• ~•xt~~ni ~~f tli~• full aniuunt ~~f th~~ r~•nuunin~ un~r.ti~l in~l~•l,t~•~ln~•~> .~•~•un~~l f,~ ti~i~ i~.urt;::~~«-. un• 6~e•r.•L~-
:1~~1'!1l1•/~ ~1/ (~11' ~~1/P~+[plk!1'1•. 7U11~ ~11~ `!1•11`~ ~if th~l'~..',11~, :I-ii~ ~f::l~~ f1~' ~1:111~ f~~«I1N'11E1 ~11 ~:tl(1 ~~~~I'~+,;:1«~'~• l~f'll~
~l:•i~nc~~• to 1~~• xp~ili~•~I ~~n a~•~•~~ui,t ~~f thi• l.~:t n~al~~ri~~~, ~~i~tulln~~•:~!. u! ~~~~ h trui~~i~r~~~lr~~ ..; ~~r~~~:.1~•~1. he~tc~•~~~r.
~}IP ~~Q~(k;1kPP 111''1lS :l~~lk!Ill•1•, III.I~' ilf ~~Iti ~~1~~•PPIH~IS ~1:!\' t~lf~•rl 1~1 t~ll' ~~ul'j'~,[, :F!(1I'. }11~ }U•!('. ~~~ II..1`',',11~ :tf:\' +):1f4
ur ull uf :u~•h u~~xr~l: F-r~-~•~~I~~~t. tl~at i( ti:~• I~~:~:~ ~. ~:~::i~:~nt~•.~~i nr :r~.ur~•~1. tf~~• ~•nn~~~tit u! r}t~~ ~,i:irt~nt~~r nr i+~~ur••r
i. i-ht~tir~~vl in a~i~an~•~~ ~~f ;n~~i ~r.i~i~u•tit.
•'- 'I'he ~Iortgxgre may, at any time pending a suit upon this ~~ortgage, apply to the court ~a~•ing juri.gdiction
thereof for the appointment of a recei~•er, and suc6 courl shall forthaith appoint a recei~er of the premises co~•ered
hereb}• aIl au~ sinKula~, including all and singular the income, profits, issues, and revenues from wha:eti~er source
derived, each and e~•ery of which, it being expressly understoal, is hereby mortgaged zss if specificall~ set forth and
described in the granting and habeudum clauses herroL Such appointment shall be made by such cuurt as sn admitted
equit~• and a matter of absolute right to said Atortgag~, and without reference to the adequacy or ~nadequacy of
the ~•alue of the propert~ mortgaged or to the solvenc~• or iasc~lvency of said 1loriqagor or the defen~lant~4. Such
rents, pro6ts, income, issues, and revenues shall be applie~l b}• such receiver according to the lien of this mortgage
and the practice of such court. In the event of any default on tAe part of the ~Iortgagor hereunder, the ~Iortgagor
agrces to pay to the ~iortqagee on demand as a reasonable monthly renta! for the preroises an amount at least
equi~•alent to one-twelfth (!~y) of the a~rc•gate o! the twelve monthly installmcnts pa}-able in the then current
year plus the actusl amount of the annual taxes, asse~menta, water rates~ and insurance premiums for auch y~ea,r
not covered by the etomsaid mo~thly payments.
tU. In the event of any b-each of this mortgage or default on the part of the ~iurtgr.gor, or in the event that
any of said sums of money herein referred to be not promptly and fully paid accor~ling to the tenor hereoi, or in the
event that each and every the atipulations, agreements, conditions, and co~•enants o( s:,id note aad this mortqage,
are not duly, promptly, and fu11y performe~l; then io either or any such event, the said ~gqrc~Rate sum mentioned
in eaid note then remain=_ng unpaid, with interest accrued to that tim~, acd all moneys secure~l hereby, shall tx~rnme
due and payable forthwith, or thereafter, at the option ot sxid :~Iortgagee, as fully and completel}• as if alt of the
said aums of money were originally stipulaled to be paid on 9uch day, an}•thinq in sa~d note or sn thio mortgage to
the contrary notwithstanding; and thercupon or tttrreaftPr, at the oplion of ~id ~1ortAaqee, without notice ar
demand, suit at law or in equity~ ma~ be proxcute~l as if all mone}•s secured herehy had matured prior to its institu-
tion. The ~tortgaRce may foreclo.se this mort~aRe, a9 to the amount so declared due and pa}~able, and the said
premises shall 4-e sold to satisfy and pa~• the same together with costs, expenses, and allow•aaces. In case uf partial
fomclosure of this mortqaqe, the mortRa~Fd premises shall be sold subject to the continuiog lieo of this mortgage
tor the amount of the debt not ihen due and unpaid. In such case ihe pmvisions of this paragraph ma}• again be
svailed of thereafter from time to time by the ~lortgsgee.
~~. No weiver of any covenant 6Prein or oi the obligatioa secured hereby shall at any tia~e thereafter be held
to be s waiver of Lhe terms 6ereof or of the note secured hereby.
12. T6e lien of thia inscrument shall remain in full force and eBeci during eny postponement or extension of
the time of payment of the indebtedness or any part thereof eecured hereby.
~=i. If the Mortqagor default in any o! the covenanta or agreements contained herein, or in said note; then the
Mortgagee may pertorm the same, and all eapenditures (:ncluding reasonable attorney's fees} made by the :~iortgaRee
in so doinK shall draw intrrest at the rate pro~~i~)c~! for in the prin~ipal indebtedr.~ss, end shall be rcpa}•able
thirLy (30) days a(ter demand, and, t,ogett~er witti interes~ and costs accrued thereon, si~all be secured by
this mortgage_
14. Upo n the request of the itort~;a~ee the ~fort~a~;or shal) ezecute and deliver a supplemental note or
notes for the sum or sums ad~anced ~y t6e ~tortKagee for the alteration, modcrnization, impro~•em~nt, main-
tenance, or repair ot said premises, for taxes ~r ac.~c~:.ments a~ainst the same and for sar other purpose author-
ized 6ereunder. Said note or notes shall be secured hereby on a parily wit6 and as fully as i( the ad~•ance
evidenced thereby were included in the note firsl described above. ~aid snpplemenlal note or notes shall bear
interest at t6e rate provided for in the principal indebtedness and shall be pavable in approximately equal
monthly psyments tor such period as may be a~reed upon b~• the creditor and dcblor. Failin~ to agree on the
maturity, the whole of the sum or snms so ad.•anced shnll be due and pa~•able thirt~• (30) days after demand
by t6e creditor. In no event shall the maturity extend bcyond t6e ultimate e~aturicy of tt~e note first
described above.
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