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Home My WebLink About2505 • ~ 1. . 1 . , . the deficioncy. Si~ch ptiyu~ont ehsll be tliRdo within thirty (30) ci~ya atter written notice from tho ~iortfia~oo etating the amount of the deficioncy, ~vhich notice n~Ay be ~iven by mail, IE at any time tlie tifort.ga~or i • eha~l tender to tt?e Mort~agee in"accordsnce with the pravis~ons oi tlie note ee~ured hereby, full payment of the entire indebtedneaa rapreeented tt~oreby, ttie MortgRgee se truetea ahall, in computing the smount ot suc#i indebtediieas, credit to tlie nccounL oi !he Mortgngor any credit balance reniaining uader the proviaione of (a) of e~id paragraph 2. It thero Bhall be ~ default under any of the pmvieione of thie mortgage rasutting - in a public sRle of the premieos covered horeby, or if the Nfortgagoe acquires tha proporty othorwiea after . default, the ~iortgagee ss truetee eh~lt apply, at the time of tho commencement~of•aueh pmceedinga or at ' the time the property ie ot}isrwisa ncquired, the amount then remaining to cradit of Mortgsgor under (a) oi para~raph 2 preceding ae a credit on the yntereat accured ~nnd unpaid and th~ balance to tlie principal. then ~ ren~aming unpaid on eaic~ n~te. 4. He will pay sll taxe~, aaeeesmeAts, water ratee, snd other govarnmentm! or munto[pat aharges~ $ne~, ot • impoatttone, for which provieion hae not been made hereinbefore, and Ln default thereof the Morigagee may pay the ~ same; and tbat he will promptly deliver Lhe o~cial rECeipts therefor to the Mortgagee. ' ~ b. He will peraait, commit, or euff'er no waate, impairment or det8rioratton of eaid property or any part thersof ~ except reaeonable wear and tear; and in the event of tha fai~ure of the Mortgagor to keep the buildinga on sai~ premiees and thoeo to ba erected on 8aid premises~ or improvements thereon, in good repair th0 Mortgagee may ' niake such repairs ae in its diecretion it may deem necese~ary for t6e proper preservation thereo~, and the full amount , of each und every eueh payment shsll bo due ~nd paysblo thirty (30) daye after demand, and ehall be secured by ~ the lien of thie mortgagfl. . ~ ; 8. Ho will gay all an~ singular the coets, ehar~e~ and expensee, incluiiing reasonuble lawyer'e fee~, and caete oi ubstraots of tltlo, inourred or paid at any time by the ~4iortgagee because of the failure on the part of the~ Mortgagor ' promptly e?nd fully to perform tho agreementa and covenante of eaid promissory note and thie mortgage, and said ooeta, chargee, and eapenec9 ehali be im~ediate~y due and payabte and ehall be seoetred by tho lien of this mortgage, .7. Iie wiil oontinuoua~y main~tain hessrd ineurance, oi auch type or type~ and amounts as Mortge~gee msy~'~~~ from time to time require, on the impmvementa now or heroaiter on said premiaes and except when paymerit tor all auch premiuma hae Lheretoipre been made under (a) of paragraph 2 hereof ~e will pay promptt when due any premiuma therefor, All ineurance ehall be carried in companiee approva~ by I~iortgag ee aad t~e poli• • ciee and ranewale thereoi ehall be held by 1Vlortgagee end have attached thereto loee payable clauses in tavor oi and in form acceptable to the Mort~ugae. In er-ent of loss he wiu give immediate notice by m~il to Mortgsgee~, and Mortgagee may make prooi of loes if not made promptly by Mortgagor~ and eacL insursnce company ooncerned ~s hareby~authorised and dirocted ta make paymont ior euch lose directly to Mortgage~e inetead of ` to Mortgagor and Mortgagee lointly, and the inewrance pmceeds~ or any parE theroot may be sp,plied by riort~• _ gegee at its option either to the rciduction of the indebtednass hereby eacured or to ~.~e rastorat~on or repair ai ' the property dama~ed. In event of forecloeure of this mortgage or other tranafer of title to the mortgaged ; property in extingu~ehment of the indabtednese secured hereby, a~l right, title, and intere~t of 4~he Mortgag~r ! : in and to any inaurance policies then in force ehali pasa to the purchaser or grantee. F 8. He will not eaecute or file of record sny instrument which imposes n re,~triction upon the s~le or occu- pancy of the property described heroin on the basia of race, color~ or creed. 9: If the premises, or any part thereof, bo condemued under the power of eminent domain, or acquired for e public tise, t.he damages awarded, the proceecla for the tF?l~ing ot, or the conaideration for euch acquisi- - tion, to the extent of the full amount of the remai~iug unpaid~ indebtednesa ascured by this mortgage, are hereby assi~ned to the Mortgagee, and his heirs or assigns, and shall be pa'id forthwith to said Mortgagee ~ or, lus assignee to be apptied on account of the tast maturing inatslimonts of such indebtnese• provided, how- . ~ ever, the Mortgagee or his assignee, may at liis discretion pay direct tQ tha Mortgegor, his ~eire or asbigne ' any'part or. all of euch award; provided, that if the loan is guarsnteed or insured, tho conaent of the guaran- ~ tor or inauier ia obtained in advanee of said payment. ~ i 10.~ The Mortgagee may, at any time ~end'ing a auit upon thie mortga~e apply,Lo the co~jrt havin~ juriarlia- ' ~ tion thereof for the ~ppointment of a receiver, and auch court eball forthwit~ appoiat a receiver of the premisea ~ covered bereby all and aingul~r, includin~ all and singular the income, profits, iasuee, and revenues from ~vhst- ~ ' ever source derived each and ever oi which it b~ein ex reast understood ia hereb mort ed as if a ecificatt ~ aet forth and described in the grnynting anc~ hsbendum clauses hereof. Such appointmen ahall be made by ~ # euch c4urt ne a.n admitted equity and a mstter of abaolute right to said Mortgagee, and without reference to the adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or the defendanta. Such rents, profita, income, iesusa, and revenues ahall be applied by euch receiver according to the lien of thia mortgage and the pracCice of euch court. In the event of any default on the part . ~ nf the Niortga.gor hereunder, the Mortgagor apreea to pay to Lhe Mor agee on demand aa a reasonable monthlv • rentsl for the premiaea an amount•st least equival8nt to one-twelith (y~~) of the aggregate oi the Lwelve monthly ' installments peysble 3n'the then current yeer plus the ectual amount of the annusl taxes, asseaemente, wster rates, snd inaurance premiume for such year not covered by the aforesaid monthly paymente. 11, In the event of any breach of thi~ mortgage or default on the psrt oi the Mortgagor~ ar in Lhe event ' thsE any of eaid euma of money herein referred to be not promptly and fully peid sccording to the tenor hereof or in tha event that eaeh nnd every the etipulatione, agreements conditiune, and cov~nents of eaid note an~ thia mortgage, are not duly, promptly, and fu~ly performed or i~ the Mortgagor be adjudicsted bankrupt or : made deiendant in a bankruptcy or receiverahi~ proceedinga; then in either or any such event, the said aggre- gate sum mentioned in said note then remeining unpsid, w~th intereat sccrued to that time, nnd nll money eecured hereby ahall become due and payable forthwith, or theresfter, at the option of said biortgagee, se fully snd completely as if all the said sums of money werQ originAlly stipulsted to 13a paid on such day, an~- thing in said note or u? thia mortpage to the contrary notwithstanding; and thereupon or thereRfter, nt the option of asid Mortgagee, without notice or demnnd, suit st law or in equity, may be prosecuted ae if sll monevs. e,ecured hereby hnd matured prior to its inatitution. The Mortgagee may foreclose this mortgage~ as to tf~e amount ao declared due and payeble, and the said premises ahall be sold to satisfy snd pny the same together with costs eapenses, and allowancea. In case of partial foreciosure of this mortgage, the mortgaged premises _ ahall be so~d subject to the continuing lien ot this mortga.p~e for the amounG of the debt not then due and unpnid. ~ ~ In sach ease the pmvisione of thi~ paragraph may egam be availed of thereaiter 'from time to time by the ~ Mortgagee. ; - 12. No waiver of sny covenant herein or of the obligation eecured hereby shwll nt any time tlierenfter be ~held to be e waiver of the terma hereof or of the note secured hereby. - ~ . ~ 13. The lien of thia inatrument ahall remain in full force and effect during ~ny gostponement or extension of the time of payment of the indebtedness or any part thereof sscured hereby. : 14. Thia mortgage is given to secure the purchase money, or s part thereof, of the lands her~in deacribed ~ ~~?nd is executed and delivered contemporaneously with the deed therefor. ~ ~ 15. If the Mortgagor defsult in any of the covenants or agreementa contnined herein~ or in ssid note, then ' tlie Mortga~e msy.perform the anme, and ali expenditures ~inciuding reasonable attorney's feea) made by tha ` Mortgagee in ao dou?g Qhal! draw interest at the rate provi ed for in the principal indebteciness, and al~~ll be ~ - repayable thirty (30) days after demsnd, and, togethsr with interest and coats accrued thereop, ahall be secured by this mortgage. `i . 16. Upon the requeat of the Mortgagee the Mortgagor shAll execute and deliver a eupplemental note or ; notes for the sum or sums advanced by the Mortgagee tor the ulteration, modernizstio~t~ improvement, m~in- tensnce, or repair of said premises, for t~?xes or assesementa 8gainst the same end for i?ny other purpoae autlior» ' iaed hereunder. Said Aote or notea shall be secured hereby on A parity with ~?nd ea fully ss ~t tlte advsnce i avidenoed thereby were included in the note firet deacr~i s v Ssid sup lemental note or notes ahi?lt be~r ` ~~7 _ . s,~:.x ~ F~A~F~b~~