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Home My WebLink About2227 • ' ' . ' ~ t , i ~ ~ ~ ~ t. • ~ . ' ~ ~ • . . ~ ~ ~ ~ . . ~ . ~ . . . ~ . ~ , ~ ~ : • . . . . _ ' . - . ~ • w. ' . . ' . • ' ~ • ~ , - ' ~ . , . . ~ 6 F_ ~ • 1 i' l ~ . . . . ~ • 4, If ~n award in condemna:ion be madc wich ~espect to all or any part of the propcrry aubject ~ • heretp, the entire amount of such award attributable to Mortgagor's and I?lortgagee's intercst shall ~ ~ be paid di~ectly to Mortgagee rachec than to Mortgagor and Mortgagee joincty, and the condemnina ~ authority is hereby auchorized and directed to make such payment accordingly. The pcocerds of § ~ any such award~ or any portion.thercoE, shall be applied by Mortgagec at its option either to re• ~ duction of the indebtedness secured hereby or to the restoration or repair of the properry~ it being ~ ~ underscood chac Morcgagee shall exercise sucli opcian in accordance with the aisfies of Phillips. ~ ~ ~ s. If, notwithstanding the foregoing provisions, paymene of any proceeds on account jf In- ~ ; surance or eondemnacion is made co Mo~tgagor direccly o~ to lNortgaAor and Mortgagte jointly, ~ : Mortgagor shall immediately ttansfer and deliver such proceeds, or his encire interest therein, F ~ to Mortgagee. . • ~ ~ . - ~ , i~• . 6. If Mottgagor should default in che perEormance of any of the obligations herein set forth, ~ ' Mortgagee, in addition ~nd without prtjudice to any other remedy which it may have, may itself ' coaect the defautt and any sums so expended by.Martgagee shall be immediately due and payablt ' # b I~ort a or to INorc a ee to ether with intcrest on such sums at thc hi hest le a! rate from and Y 88 SA + B 8 8 after the dace of such expendicure uncil repaid, and such expendicure, cogecher with such incerest~ ~ s' .shall be secured heceby. ~ - _ 7. No failute of the Mortgagee to exercise any option herein given to declare the maturiry of the debt hereby secured shali be taken or construed as a aaiver of its right to exercise such ~ opteon or to declare such maturity by reason of any past or present default on the part oF the # I?lortgagor; and the procurement of insurance or the payment of taxes or other liens, debts o~ ~ charges by Mortgagee shall not be taken or conscrued as a waiver oE its ri ght to deciacr the `maturity of ehe indebtedness hereby secured by reason of the failuce of the Mortgagor to procuce , such insurance or co pay such caxes~ debcs, liens or charAes; and the lien of this instniment . ~ . - shall remain in (ull force and effect du~ing any postponement or extension of the~ tim~ of payment . of, the indebtedness or any part theteof secured hereby. , , , ~ . , . } S. If the Mortgagpr shall well and eruly pny and discharge the iadebtedness hereby secured . ~ • as it shall become due'~nd payable and shall do anJ ~erform all•acts and aRreements to be done ~ ~ ~ ~ and performed by Mortgagor under the tecros and provisioi~s of this m~r?.ga; e, t!~er this conveyanc~ . ~ ' ~ . . . : shall be and become null and vold. " . ~ ~ _ . i: : _ . . _ < ' ~ • . • • • • • ~ • . . . j . . . _ ~ - • ` - _ . . _ _ ~ . 1 ~ ~ ' . ' • ' ' . ~ . . AR~Zt~I~A, FLORIDA; IDAHO, TNDIANA, IO~TA, 1~NTUCKZ, MONTAI~A, 1P~AA31U, 1J~t ~XIGOs N04~i ; DAxOTA, ORIO, OKLAHOYSJI, QEiEGO~i, SOUTH CAROLINE, 30UTH Dt1I~02A, !1'PAH, KASHINGTO~t and ~ ` ~ iiISC0~i3IHs . ~ It tah• Mortgagor sAal7, tail to pp?, or cauao to be paid, es it mstursa, th• i~debt~d- ~ : aeea hereb, secnr~d, or s~? part ttseraor, acoording to t~s tar,e thereo~f, or it the C~ ; f Kortaagor ahall. itil to do ar pertoria e~ othsr aet or thin~ hersin required or agreed ~ to be dane or pertore~ed, or it ths intereat a! ths Kortgagse in the pra~isss or~ ~ ~ ~ improremeuts haaa~es e~dangsr~d b~ rsaaoa o! the toor~al. or aslarceMat a! a~ liai ~ ~ or enct~mbranae thsrson, thea, i,A ~ueh~ e~ti, the ~ole it~d~bted~aess hereb~? s~eur4d U ~ ahall, st th• aptiat ot th~ Kort6+s8~s aAd xithaut no~ic~, bscca i~rediat~~? dui ~ud ~ payrable vad ttiis Mort~e lorealo~ed p~urauant to tbe atatut~e. in sucb caa• ~e~d~ and ~ pronrided, l~iortga~or hereb~ ~rsiring a~ aUd all appraisea~e~ts and ~ asyd all Msitiag ~ per~od prior to sal~ oa tor~olosure. In~the eve~t ot snch loreclosurs th~ Mortgagse ma~ bid at ths ~d?ls and pv~ahsee the propert~, if ths higheat biddsr therelor. - - - . . _ . _ . _ . _ : ; _ ~ ~