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Home My WebLink About2820tender to the ~lortKa~~•e in acconla~re-witlt Ute pt~ovisioRS o~ tl~p nut~ xerutrd I~rrrb~•, tult p~~•u-Nnt of tl«~ eotire indebtedness ~eprNarn~ed thercb~, the Mortgagre, xe truxtre, aiu-ll, in canputing U~r ~uwun~ of su~•h indebtednesa~ credit to t1~r ac~•ount ot tl~e 41ort -aRor any rreJ~t L~-lauce reinainin~; w~d~•~ the pruvbµ,i-s of (u~ ot said paragraph 2. t! tl~e~e s!-al! t,e a de(au~t undl~ ~nY o~ thr pro~i~ions of this mortge~{e resultiug in p public sale of the premises covered hereb~•, or i~ tl~e Mortgngre acyu~rex ti-r pruprrt~• ott-erM•~xe ~Itc~c delault, the Mortgagee, as truatee, ahaA apply, at tt~e tune of the c•oinn-rncr~nent ot such prceerdings or at tliP linu• the propett~ ~s atl~ervrisp acquire~l, the ~i~iount then rr~~~ainin~ tu rrrdit of Mortgt-Kar w~d~•r (~) of NsraKraph 2 preceding ae a credit on the interc~st sccrued and unpaid ancl ti`e bale~-ce to 1!-e prit-e1NaI IIfrR f~•u-aii~u~K unpaid on said notP. ' 4. He ~viU p~y ap tuues~ aeeeeements~ water rat~es, ~nd ot6er ~overnpmenta! or municipal chugee, fin~. ot impoeitions~ for which pmvision 6ae not beea made 6ereinbefon~ and in defsult thereof Lhe Mortgagee me-y psy tbe eaone; t~nd tdat De wiU ptomptly deliver tbe official reeeipt~ thenfor to the Mortgagee. 5. He ~rill permit, commit~ or su8er ao wa8te~ impairment~ or det,eriorsWon ot eaid pmperty or aay part thereoi, eucept reaeonable wear and tear; e~nd in the event ot the fvilure of the Mortga~gor to keep t.h~ bwklin~s oa esid pnmieea snd thaee to be erected on eaid premiees, or improvemente thereon~ in good repair the Mortga~gee msy mske euch repaire ae in its discretion it msy deem neceeeary for the proper preacrvation thereo~, and the full amount ot each and every eucb puymeat ehel! be due :-nd paysble t,hirty (30) daye siter demand, and sball be eecured by Lhe lien of this mort~e. 6. He will pe-y aU and eingular We ooata~ chargee~ and expenaes, includin6 reseonsbk lawyer's feea~ and coets of sbstracta of title~ incurred or paid at any time by the Mortgagee becauee of the failure on the part of the Mortgagor promptly snd fully to perform the agreements and covenants ot eaid promiseory note and thia mortgage~ and said eoets, c6argea. and expensea ahall be immediately due and payable and ahal! be eecured by the lien oi this mortgage. 7. He will oontinuously maintain hazard insurance, of euc6 Lype or types and amounts as Mortgsgee map trom time to time ~quire, on the unpmvements now or hereaiter on sa~d premises, and e.~cept when payment Ior all such premiums hsa t6eretofore beea made under (a) oi pacagraph 2 hereot, he will pay promptly wben due sny pretn~ums therefor. All insurance shall he carrie~ in comparuea approved by I~iortgagee and tt~e poli- cies and renewals t6ereof shnll be held by Mortgages and have attached thereto loss paysble cisusee in lavor ot and in form acceptable to t6e biortgagee. In event ot loss he will give immediate no~ice by mail to 114ortgagee, snd :Viortgagee may make.prooi ot Ioss if not made pmmptly by Mortgagor, and each insurance oompany ooncerned is hereby authonzed end d'uected to make payment for such loss d'uectlv to I-~lortgagee instead of to Mortgagor and b'Iortga~;ee ointly, and the insurance proceeds, or aay part thereo~, may be applied by Mortr gagee at its option either w t~e reduction of the indebtedness hereby secured or to the reslorataon or repair of the property dama~ed. In event of foreclosuce of thie mortgage or other transfer of title to the mort~aged property in extingu~s6ment of the indebtedness secured hereby, a~l right, title, snd interest ot the Mortgagor m and to aay insurance policiea then in force shall pasa to the purchaser or gtantee. x. lf lh~• pr~•n~is~•., or un~- part Ih~•rn~~f, b~~ ~•on~lt•~un~•il umlc•r th~ Ex~w•rr of t~niin~nt don~uu~, or u~•qttirc~il fur a public• us~~. tli~ ~lun~a~-~•s uw~ar~l~•~1. th~~ pro~•~~~vls fur Ih~~ takin~ of. or th~~ ~•onsi~l~~rutiun for ~w•1~ u~•yu-siti~,u. t~- tli~~ ~~xtent o! Ih~~ full u~nount ~+f thr rF~n~uininK in~pui~l inct~~l,t~•rlnf~s s~•~•ur~•~l h~- thi. iuurtK~Kr. ar~• !u•r~•1~~~ acsi~-nw1 to th~~ ~1ortKa~c~~~, un~l hi~ I~~~ir~ ur ei.si~ns, un~l ,l~:tll h~~ pi~i+l (t-rtl-H•ith 1u ,ui~l ~1i-rtKu~r~~ ~-r I~i~ a.tsiKnc~ to im appli~~~l nn a~~•ount of th~• last n~uturin~ inslullin~•nt. uf sw•h ind~•bt~•dtu~": pru~•i~l~•~1, liu~~•~•~•~~r, th~• ~1on~-u~;c•~~ ur hi.s us.tii~n~•~~. n~u~• u1 )~is dis~•r~•tia~i pu~• ~lir~~rt ta tL~• ~furt~;i~kor. 1-is L~•irs ur u•~i~ns un~• E,ert or all of su~•i- uH~ur~l; pm~idi•d, thut if ti,~• iua~- i• ~:u:-r:-nt~•~~~1 or insumd, th~ ~•onsi•nt of tl~~~ Kuurantur ur i~~surnr is obtain~•d in ed~•anre~ of :;ai~l pn~•uu~nt. ' !-. The :ldortgagee may. at any time pending a suit, upon this mortgage~ apply to the court having jurisdiction thereof for the appointment of a receiver, and suc6 court ahall forthwith appoint a teceiver uf the premises covered hereby aU snd singulas, including sll and singular the income. proSts, issues~ and revenues (rom whatever source derived, each and every ot which, it being expressly underetood, ia hereby mongaged ss if spec;6celly eec forch and deacribed in the grantiug and habendum clauses hereot. Such appointment shall be made by such court as an admitteci equity and a matter of absolute right to said Mortqagee, and without reference to the adequacy or inadeyuacy of the vnlue of the pmperty mortgaged or to the solvency or insotvency of said ~tortgagor or the defendants. Such rents, profits, income. issues, and revenues shall be applieci by such receiver according to the lien of tfiis mottgEge and the practice of such court. In t6e event of any default on the part of the Mortgagor hereunder, the Mortgagor agrees to pay to the 1ltortgagee on demand as a reasonable moathl~• rental for the premises an amount at leaet equivalent to one-twe[(th (~y) ot the aggcegate of the twelve monthly installments payabte in the then current year plua the actual amount of t6e annua! ta~ces, assessments~ water rates~ and iasurance premiums for such year not covered by the atoresaid montWy paymenta. l0_ In the event of any b-each of thia mortgage or default on the part of the Mortgagor; or in t~e event th~-t any of aaid aums of money herein ~reierred to be not promptly sad fully paid according to the tenor hereof. or in the ~ event that each and every the atipulations, agreements, conditions, and covenants of said note and this mortgage, are not duly, promptly, and fully p~rformed; then in either or any such event, the said agqr~gaSk sum mentioned in said note then remaining unpaid, with interest accrued to that time, and all moneya securecl hereby, shall become due and payable forthwith, or theresfter, at the option oi said l~iortgagee, us fully and completely as if all of the eaid sums of money~ were originally stipulated to be pa-id on such day, snytfiing in es~d no1,e or in this mortgage W the contrary notwithstanding; sud t6ereupon or.therealter, at the option of said Mortg,agee, witF~out notice or demand, suit at taw or in ec~uity, mey be pr~ecuted as it all moneys secured herebv had matured prior to ics institu- tion. The N[ortgagre may toreclo~e tfiis mort~a~e, as to the amount so declareci due and payable, and the said premises shall be sold to satisfy aad pay the same together with c~ts, expenaes, and allowsnces. In case of partial loreclosure of this mortgage~ the mortguRed pmmises shall be sold aubject to the contiouing Gen of this mortgage for the amount of the debt not then due and unpaid. In such case the provisions of this paragraph may again be evailed of thereafter trom time to time by the ~iortgagee. 11. No aaiver of any covenant hecein or of the obligation secured hereby shali at an~ ti~ue thereaf ter be held to be s waivet of the terma bereof or of the note secured hereby. 1''. The lien of thia inacrument ahall remain ia full force and efiect duriog any poa~ponemeot or extension of the time of payment of the indebtedneae or eny part thereof secured hereby. ~~;. If the Mortgagor detault in aay of the covenanta or aRreemeuta contained herein, or in eaid note, then Ehe Mortgagee msy perform the esme, snd a!1 expenditures (inciuding ressonable attorney's fees} macie by the MortgaRee in so doin~ shall draw• interest at the rate provided for in the prin~ipai indebtedn~ss, and shall be r~pa~•able thirty (30) days aiter demand, and, togetherwith interest and cost,s accrurd thereon, sl~all be secured b} t,his mortgage. 14. Lipon the request of the L~ortfia~ee the titort~a~;or shaN eaecute and d~liver a supplem~ntal notc or aotes for the sum or sums adranced Dy the ~torLgaRee tor the aheratiun, mocDernization, impro~rm~nt, main- tenance, or repair of said premises, for taxc~ or a~.~e~.smenls a~„ainst the seme and !or Sa~ otfier pur~~ose author- ized hereunder. Said note or notes shall be secured hereby on s parity with and as fully'as if the ad~•ance eviclenced thereby were incluJed in the note firsl described above. Said supplem~~ntal note or notes shall bcar interest at the rate provided for in the principal indebtedness and shell t,e payable in approsimatc•l~' equal monthl} pavm~nts for such periocl as may be aF;reed upon b~ the creditor and debtor. Failin~ to eg~ec on the msturity, tfie whole ot the sum or sums so advanced shnl) bc due and pa~•ablc thirty (30) days afler d~mand by t6e creditor. In no event ahal{ the msluril.y extend beyond the ,ultimat,e r.~aturity of ~l~c note first described above. ,~ ~~ ~.~ . __ _ .. - ~ ~, ~'~ 348 ~,Ut ~18 -- - ~ ~~ ~