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HomeMy WebLinkAbout0931 . w . i indebtedness hereby secured, or to pern?it the Mortgagor to receive and use it or any part theteof for any other purposes, without thereby waiving or impairing any equity, lien or right under or by virtue of this deed, and the Mortgagee may place and pay for such insurance or any part thereof without waiving or affecting the option to foreclose, or any right hereunder, and each and every such payment shall be due from the Mortgagor on demand and~shall bear interest from the date of payment at the rate of 12 per centum per annum. ~ ~ (f) To keep the_mortgaged property at all times in~ good order and repair, and to permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof. (g) To perform, comply with and abide by each and every the stipulations, agreements, conditions and covenants in said promissory note or notes and in this deed set forth. (h) That if any of said sums of money herein referred to be not promptly and fully paid within 15 days next after the same severally become due and payab~, or if each and every stipulations, agreements, conditions and covenants of said promissory note or notes and this deed, or either, are not fully performed, complied with and abided by, or if all or any part of the property or an interest therein is sold or transferred without Mortgagee's prior written consent, the said aggregate sum secured by this mortgage shall become due and payable forthwith or thereafter at the option of the Mortgagee as fully and c~ompletely as if the said aggregate sum was originally stipulated to be paid on such day, anything in said promissory note or notes or herein to the contrary notwithstanding. (i) That in order to accelerate the maturity of the ' indebtedness hereby secured, because of the failure of the ~ Mortgagor to pay any tax, assessment, liability, obligation ! or encumbrance upon said property, as herein provided~, it ; shall not be necessary nor requisite that the Mortgagee ~ shall first pay the same. ~ 2. The lien hereof shall extend to and include the use, f rents and profits of said mortgaged property, but the Mortgagor shall have the right to remain in possession, enjoy the use, and E receive the rents and profits thereof, without accounting to the Mortgagee therefor, so long as there shall be no default here- ~ under, provided that in the event of ~ny such default hereunder ~ for a period of 15 days, the Mortgagee shall be entitled to the possession and use of said mortgaged property, and to receive and apply the net rents and profits thereof, upon and tow~rd the payment of the indebtedness hereby secured. ~ ~ ~ 3. In the event there shall be filed a complaint to ~ foreclose this deed, the plaintiff shall immediately.and without ~ notice be entitled i~o the appointment of a receiver for the ~ mortgaged property and the rents, earnings, issqes, income and ' ~ profits thereof, with the usual power of receivers in such cases, and such receiver may be continued in possession of said ~ property and of said rents, earnings, issues, income and profits ~ of said property during the pendency of such foreclosure suit, , and the Mortqagor hereby specifically waives the right to object ~ to such appointment and consents that such appointment shall be ' , made as an admitted equity and as a matter of absolute right to ~ ~ the Mortgagee, and without reference to the adequacy or adequacy ~ of the value of the mortgaged property or to the solvency or ~ ~ insolvency of the Mortgagor or any other party defendant to such suit. ~ ~ t E aoflK 391 P~~E 931 _ _ _ :