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Home My WebLink About0550 r 3 ; the deRGiency. Suah payn~ant eh~lil ba made within thirty (30) days after written notlce iron~ the Mortgagea ! at~ting the smount of the deflcienay, which notics may be given by mail. If aL ~ny time the I~iartgagor ~hall tender to the Mor t ga gee in accordanca with the pro~vieione of the note secured hereb y, full pa yment ; uf the entire indebt.~dness represented thAreby, the Mortgagee a~ truetea ehall, iu oomputing the amount oi such indebtedneas, credit to the account of the I~ior ~Rgor any credit balance remsining under Zhe praviaione of (s) of eaid garagraph 2. If thdre aliall be a defau~t under any of the provisione of thi~ mort~age re.aulting in a publie sale of the pren~ise9 covered liereby, or i! the Mortgagae acquires the property otherwise a{ter detault, the Mortgagee as trustee shall apply, at the time of tha comn~onceinent of euc}~ proceedinge or et M the time the property is otlierwise acquired, the smount then remaining to credit of Mort~gagor under (a) oE ~ para~reph 2 preceding as a cradit on the interest accured and unpaid snd the balance to the principal tl~en ~ remaining unpaid on eaid n~te. . 4. He ~vill pay a1t ta~cea, aeeeae~ente, wuter ri?t~e, and other g~overnmental or munioipal ohsrgee, Snee, ar fmpoe3tlone, for whiah provi8io~ h~~a not bee~n made hereinbefora, and iu defe?ult thereof the Mortgagee may pay ehe eame; and th~t he will promptly daliver the official reoelpte therefor to the Mortgagee. _ 6. ~e wiU perwi~, oonamit, or eu~er no r?aete, impairment or deterioration of e~id proparty or any psrt thereoE e eaco~pt reaeonable wear and tesr• and in the event of the fe~ure of the Mortgagor to keep the buitdinga on eaic~ premieea sad thaee to ba arecte~ oa eatd preuileee~ ar imprnvemente thereon, in good repair the Mortgagee may s ~each and eve~ e~u h ita d1 e t~oshaal be d e and ~ a~bl~e fthirt 8 30 ~da p ai r demewd nu~c~ ehsll bef eecured b t : L h e l tea o t t h i a m~ Y~ PaY Y~ ~ Yd , y ~ 6. He Aill pay ~11 and eingular t,he ooata, o~arge~ aad expenea, inaludtng reaeonable le?wyer'e feea, i?nd ooet~ ~ of abetra~te of title, inourr~d or paid e?t any ttme by the ~1~Iortga~ee becauee of the failur~ on the part of Lhe Mortgagor i promptly and fully to pertorm tha ~emeat$ and covenants of eatd promieeory note and thla mortgage, and said ~ oaet~, chargee, and e~~peaeea ehall be immediAte~,y due snd pey~?ble iend ehall be eeawred by the llen of thi~ mortgaga 7. He will oont,enuoua~y maintsin buzsrd inauranoe, ~i such type or types wd e~mounts as Mortgsgee m~ ~ from tune to time requir~e, on the improvemente now or hereaiter on eaid premisee eend except when payaienti ' tor all such premiuma haa Lherstoiore been made undor .(a of psrsgraph 2 hereof ~a will pay pmmpWy when due any premiuma therefor. All ineurance shall be carn~in companies approvec~ bp biortgagee a.n~d the poli- ciee snd renewsle thai°eof shall be held by Mortgagee and hnve attached thereto loee payable clsuaes in favor oi ` s?nd in form acceptable to the Mort~agee. In event of loas ~e will give innmediste notice by mai! to Martgagee, snd Mortgsgee may make pro~! of loae if not made promptip by Mortgagora wd each insursnce compaqy ~ ~ ooncerned ia hereb authorized and directed to make payment for euch loss directJy to Mortgsge~e instead o# r- Lo Mortgagor and ~ortgagea jointly, and the ineurance proceede, or any part thereof inay be ap.plied by 111ort- • gngee nt ite option either to the re3uction of the indebtednees Lereby eecured or to t~e restorstaon or repair o# t,he property dama~ed. In event of foreclosure of thie martgage or other tsanafer of t~~le to the mortgsged property in extingwshment af the indebtednese eecured hereby, a~l right, title, and intarest of t~?e Mortgagor in t?nd to any ineurance policies then in iorce ahall pasa to tha pum,hase~r or grantee. ~ 8. He will not ez+ecute or fila of record any ixiatrument which imposea a reatriction upon the sale or occu- ; , p~.ncy of the property described herein on the baeis of ra,ce, color~ or creed. 9. If the premises, or ~ny part thereof, be condemned under the power of eminent domnia, or acquired ~i for a public use, the damages awarded, the proceeds for the taking of, or the coneideratian for euah acquiai- ~ tion, to the extent of the full amount of the remaining unpaid indebtedneea eecured by thia mortgage, are herehy assigned t,o the Mortgagee, and hia heirs or ass~gne, Qnd shsll be psid forthwith to said Mortgagee or his assignee to be Qpplied on account of the last maturing inetallments of auch indebtnese• provided,-how- ~ ever, the Mortgagee or his assignee, may at liie diacretion pay direct to the Mortgagor, his ~eire or assigne any part or all of euch award; provided, Ehat if the loan ia guaranteed or inaured, the consent of the guaran- = tor or insurer is obcained in advanco of aaid payment. ! 1Q. The Moctgagee may, et any time ~end'ing a euit upon thia mort~a~e apply,to the court hAVing juriadic- ~ t,ion thereof for the appointment of a rece~ver, and euch court ahell fortSi~nt~ a~point s receiver of ths premisea covered hereby all and singular, includin~ o?ll and eingular the income, pmfits, issues, and reveaues from ~vhat- ' ever source derived, each ~nd every of which it being eapresely understood, is hereby raortgaged sa if specifically ~ aet forth and described in the granting en~ habendum clausea hereof. $uch sppointment ahell be made by such court as an admitted equity and e matter of absolute right to aaid Mortgagee, and without reference to ~ j the adequscy or insdequacy oi the value of the property mortgaged or to the solvency or insotvency of said t Mortgagor or the defendants. Such rente, profits, income, issues, and revenues ahall be applied by such receiver ' ; according to the lien of thia mortgage and the practice ot euch caurt. In the event of any default on tbe part ~ oi the Mortgagor hereunder, the Mortgagor aprees to pap to the Mor ages on demand se a reasona6le monthlv rent~l for the premises an amount st least equivalent to one-twelfth (3~:) of Lhe aggngats of the twelve monthlv inataliments payable in the then current year plus the actusl amount of the uinusl tares, 8agesamente, wster ~ ratea, and insurance premiume for such yeer not covered by the eforeasid monthly paytnente. i ~ 11. In the event of any breach of thia mortgage or default on tha perL of the Mortgngor, or in the event ! thst any of said eums of money herein referred to be not promptly and iully paid according to the tenor hereof or in the event thst each and every the atipulationa, agreements conditiune, and covenants of said note sn~ ~ thia mortgage, are not duly, promptly, and fully pertormed or i~ th~e Mortg~?gor be adjudi~aLed bankrupt or rasde defendant in a bankrnptcy or receivershi~ proceeding»: then in either or any such event, the said aggre- gate aum mentioned in asid nots then remainuig unnaid, vvsnth interest accrued to thst time, and all money secured hereby shall become due and payable forthwith, or thereafter, at the option of said biortgagee, sa fully and comp~eteiy as if ell the eaid sums of money were originally etipulated to be peid on such day~ an~•- thing in aaia note or in thie mort~age to the contrar~? notwithstt?nding; and thereupon or therenfter, at the option of ss~d Mortgagee, vrithout notice or demend, suit st lsw or in equity, may be prosecuted as if all moneva eecured hereby hnd matured prior to ite inatitution. The Mortgagee may foreclose Lhis mortgage~ sa to tf~e amount so declared due end payabie, and the said premisea shall be sold ta aatiafy and psy the sume together with coats expenaes, e~nd ellowances. In case of partial foreclosure of this mortgage, the {nortgaged premises ahall be soSd au6ject to the continuing lien of thia mortga~e 4or the amounL of the debt not then due and i~npAid. In such case the proviaione of thie peragraph mey again be t+vailed of thereaitec irom time to time by the - Mortgegee. . - 12. No we+iver of sny covenstrt hereia or of the obligs~ion ~ecured hereby shall at any time tliereafter be ~ held to be s waiver of the terma hereoi or of the nate secured Lereby. ~ 13. The lien of thie inatrument shall reme?in in tull iorce and et~ect during e,r?y poatponement or extension oi the time oi payment of the indebt~dness or ewq part thereof eecured hereby. ~ 14. Thie mortgsge ia given to eecure the purchsse money, or s part thereof, of t6s Isnds herein deseribed ~ snd ia executed sad delivered contemporsneoualy with the deed therefor. - ~ l5. I{ the Mortgsgor deiault in any of the covenants or agreeruents c;ontained herein, or in s~sid note; t~en ~ tbe Mortgsgee msy, perform the same, and all exp~nditures ~including reseonable attorney's feea) made by the Mortga e w so doing ahsll +draw interest at the rate pmvi ed for iu the principal indebtedneea, ~nd sh~ll l~e n ~ b~ syab~e~t ~t~y~(30) dsya after demand, and, together with interest ~und co~ts accrued thereon, ~hait be secured thia ~ 18. Upon the requeat af the Mortgagee the Mortgagor ehal! axecute and deliver a suppleniiental note or notes for the aum or sums advenced by the Mortgsgee for the alteration, moderaiz~tion, improvement, m~in- # t~nance, or repe?ir of said premisea, tor ta~xes or aeeeeaments against the same und for wy other purpose ~utlior- ~ ized hereunder. $sid note or notes shall be secured hereby on ~ parity with aad u fully ~a it tl~e e,dvance evideneed thereby wero included in Lhe note &r~t de~cribed above. Said ~upplemenLa~ t~pta a ahai ~o~K f~~f'~5b