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Home My WebLink About2702 • 1', . . . . • a~xl a1?nll July perturn~, cuniply with und u~ idu t,y uach urxl overy tho atipulutione~ comlitions, and covanants of aaid pmmtasory ~ nute arul of ttiia mortguge~ ~hen this iuurt~uKu und Lha catute horc:by crcAttvl ahall cease und be null and void. ~ IC is understo~d thnt tho won! 'hnurt~~~;ons;' whelher In tha ein~ulat or~ plural anywhare in thts mortgage, afull be i aingular if ono only ~und ahnll be pluru! JulnUy utxl severolly I[ more thtu~ aw and thnt the word "IheIr" as ust~d anywhere !n thia mortRaqe ahull bo lakcn to mcan hia, her or Ita, whervver the context eo ~mpliea or sdmits, ~ And the Mort6ngora hereby jointly ai~d severally covenant and agrce to ~nd with the Mortgagee: ~ 1. To pay All und slnqulnr tho principal und intenst und tho vu~ious and sundry sume o! money payable by virtue of ~ ~ sald promiasory note i?nd thia murtgugc~ euch and every, p~nmptiy on tho duys reapectively the eame severnlly become due. The ! Mortgngee may rnllect a"late chnr~e" not to exce~~t un amount c~qunl to two per centum (296) of sny inetaliment of tha note = hernby aerured which i~ not patd w~thin fifteen (1~) dnya ufter lhe due date thereot to covee the extrn expense involved in i handlmg delinquent puyments. } ~ 2. To pay when duo und wlthout rc~uirin any notIce tmm Mort~aAee all ~nd sinaulsr the taxea, aaqeasmenta, leviea~ ~ obli~ntior?e and incumbrances of overy nuturo und~ind now on e~uid descrit,eci Froperty and/or that hereattor msy be tm- 1 ' poseJ, suftered. plured~ levied or ussessed thereupon, e?nd/or thut hareatter muy be lev~ed or a9aessed upon thie mortgs~ge ancVor lhe fndebtedness secured homby, each uncl every und fnaufur na uny thereof ta of record the same ahall be ptomptly ; gntiafied nnd diachurged of recoid nnd lhe ori~inal uitic~al document (~uch u9~ far Instance, the tax receipt or the satisfaction ~ . puper ofCcially endurae~ or certitied) shall be plnced in the handa of enid MortRageQ within ten dt?ys next cifWr payment. ~ 3. To keep the impmvements now existinR or hereufter erected on the mortguged property. and the equipment and ; pereonalty covered by this l~iort~uge~ Insured us mny t~ re~uired from time to time by the Mort~u~ sguinst loss by tire~ ex• ~ ~ tended coverage and such other huzat~ls, cuau~ities und cont~ngeneies as muy be requit~l by Mort~;ugee and will pay promptly~ : when due. any premiun?s on such insurAnce. A!1 insu~~ance shall be in torm und umounts sutisfectory to, and in insurunce com- ? punies approved by lhe Mortgugee, nnd the poUcies und renewnla lhereot yha~li be held by Mortgagee nnd have nttached thereto los~ payable clt~uses itti fuvoi• of i~nd in form acceptt?ble to the Mortgu~ee. In event oI loss the Mortgugors will give immetliste notice by muii to Mort~n~ee, and Mortga~ee may mi~ke proof of loss it not mada prornpUy by Morlga~ors~ snd each insurance , compnny concernrd is hereby uuthurized n,-~d directeJ to make payinent for such loss dirertly to Mort~sgee instea~ ot to Aiortgugors u~x1 Mortgagee jointly, atx! ihe insurunce procee~i~~ or nny part thereof~ may be applied by Mort~agee at its option F' . either to the rnduction ot the indebtedness hereby secured or to the restomtion or repair of the property damaged. In event ot torecloaure of this mortRuge or othcr trunafer u[ title to the mortga~ed property. in extin~;uishment ot the indebtednese secured hereby, sll right, title~ and interesl of the Mort~ugore in to uny ~nsure~nce poi~ciea then in fome ahal! pass to the pur- chaser or Rruntee• • ' ~ 4. To remove or demolish no buitding on aaid premtsea without the written consent of the Mortgagee; to permit~ com- 1 mit or eut[er no waste~ impairment or deterioration of said'property or any part thereof and to keep the same and improve- ment~ thereon in aood condition and repair. 6. To pay all and aingular the coete, charges ancl expensea, Including reasonxble lawyer's fees~ lawyer'a disbursements ~ ttnd cost of a6atract8 of title, incumed or peid at any time by the Mortgagee because of the failure on the part ot the MortBa- gora to duly per[orm~ comply with and abide by each and every the stipulationB~ conditione uid covenenta oi aafd promissory . rwte arid th~s morkga~e~ any or either. 6. 'ifiat in the event the biortgagors fail to pay or dischsrge said ta~cea, sssesament~~ liena end incumbrances~ or ssid ; coess, charges and expenses, or fail to keep said premises insured or to deliver the policIea, premiums patd, or fail to repatr the j said premisea~ av herein agreed, the Martgagee ~a hereby authorized aL its election to pay and/or diacharge said taues~ assesa- ; menLe. liena and incumbrances or any p$rt thereof, to pay said coats~ chargee and expensee~ to procure and pay for such In- surance or to make and pay for such repaics, without any obligation on its part to determine the validity or necessIty of any thereof and without the ~ortgagee waiving or affecting any option, lien~ equity or right under or by virtue of this mortgage; and the fuil amount of each und every avch payment shall be immediately due and puyable and ahall bear interest irom the date thereof until pnid at the rate of eight per centumpe r annum, and, together with such interest, ehall be secured by the lien of this mortgage; but nothing herein contuined ahall be construed as requirin~ the Mortge~ee to t?dvance or apend money~ ' foc any o[ the purposes in thie paragraph mentioned. - That (a) in the event ot any breach ot this mortgage or default on the pert ot the Mortgagors~ or (b) in the event ; . any of said euma oi money herein referred to be not pronlptly snc~ fully paid withln fifteen daye next stter the eame severally be- ~ come due and payable, without demand or notice~ or (c) in the event each and every the stipulations. conditions and covenant~ • ! o! said prrimissory note and thie mortgage,- any or either, are not duly pertormed~ complied with and abided bp; then, in either ~ or any auch event, the asid aggregute aum mentioned in aaid promissory note then semaining unpaid, wIth intereeE accrued~ } and all moneya secured hereby~ shall become due and payable torthwIth, or thereafter, at the option of eaid Mortgagee, ae fully ~ and completely aa if all of the aaid suma of money were originally atiputated to be paid on such day. anything in eaid promis- , sorY noie or in this mortgage to the contrary rwtwithataixling; and thereupon or thereafter, at the option o! the Mortgagee, ¢ ~aithout notice or demand. suii at law or in ec~uity. theretofore or thereafter begun, may be prosecuted as ii all moneyr ~ secured hereby had matured prior to ite Inatituhon. , 8. That It any auit ehall be inetit~ted to foreclose or relorm thie moctqage and/or to enforce payment of any cla[ma ; Aereunder~ the Mortgagee ahall be entitled to apply at any time pending such suit, to the Court havjn~ jurisdickion thereof for the appointment of a Receiver of the mortgxged property and ot all and sin~;ular the renta, income. ~rofits~ issues an~ revenues tt~ereof from whatever eource derived, each and every ot which are expressly mortgaged by this instrument; and it ie heteby e:pressly covenanted and agreed that thereupon auch Court ehall forthevith appoint a Rec:e?ver of said mortgaged ; property~ and of all and singutar the renta. income. pmfite. iasuee and revenues thereof from whatever aource derived, with the ; _ u~uel powers and dutiea of receivera in like casee; and such appointment shall be made ea a matter of atrict right to the ~ Mortgagee~ and wiEhout reference to the adequacy or inadequacy ot the value of the property hereby mortgaged~ or to the ~ iotvency or ineolvency of the Mortgagors. ~ 9. That Sdortgagore herehy aasign, tranafer snd aet over to MorQgAgee~ up to the amount of the total indebtednesa ~ , secure~l hereby~ all awarde of damaeea in connection with the condemnr~?tion of any of said property for public uae or for injury ' to any paet thereof, and tha proceeds of all euch awards, after payment of all resaonable expenses incurred, includin~ fees ! for attorney~ repreaenting ~ortgagee In any proceeding in which any aueh award ia made, shall be paid to Mortgagee to be applied upon the indebtednese hereunder In auch manner as ldortgagee may elec~ ~ 10. That time ie ot ths eseerue of thie contract and no waiver of any ohllgation her~under or o! tha obligation tecured ' hereby aha11 at any time theresfter be held to be a waiver of the terma hereof or ot the note eecured hereby. ~ . ; 11. Without affecting the Gability af any peraon (other than any person released purau~r?t hereto) for payment of ; ~ any indebYedneas secured hereby. and without atlc~tinq the prtority or e:tent of the lien hereof upon any property not sp~ci- t ficatly reteased purauant hereto. Mortgagea may at any time and from time to time~ withoett notice and w~thout l~mitation as ~ ~ to any legal right or privileg~c of Mortgagfe: ~ (a) Releaae any peraon Iiable. for payment o!~ any indebtednesa sezured hereby; (b) Extend the time or agrea to , i alter the terme of payment of any of the indebtednese; (c) Accept additional security of any ~Cind; (d) Release any property ~ securing the indebtednesa; (e) Consent to the creation of any easement on or over the premiees or any covenanta re~trictinR ~ uae or occupancy thereof. E i 12. To duly gerform, comply with and sbide by each and every the etlpulationa, conditiona and covenanta in esid pmm- ~ ' L s ory no t r e a n d in t hia mo r t g4~e ~e t fo r t h. ! 13. As additiona! securiky the Mortgagora do hereby tranafer, asaign and get over to the aatd Mortgagee, tts sucoes- ~ e ~ rors or esaiqns~ any ar?d ali renta now due. or to become due on the above described premisea o~ any ~eparate rental premise ~ a~ ppurtenant thereto, which are aituated on the land above ~escrihed; surh rents to be collected by or at the direction of the ~ ~ 1~ortgnRee, its successors or assiRns, and the net proceedt thereot to be applied to the indebtednesa hereinbefore eecured, aa and E when the aame shall become due an~i payable; and for the purpase ot carrying out thie proviaion the Ddortgagon do by these y ~ preaenb. constituta and appoint s$id Mortgagee, or the auccessora or a8ai~ns of the said Mort~uqee, as hts, her or their true and lawful uttorney-in-fact, to collect any and all renta for said above described premiaea, expreasly authorisinR the ldortga- ~ gee or ita euccessora or assi~na to receipt tenants theretar~ and do by these presente ratify and contirnt any uad al! acb ot ssrid attorney-in-fact in reletion to the foregoing power. ~ ~ - ~~1RK ~O'7 (~~t.F3a~. . . a f~RM MO. 7~hf • S ~ •