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Home My WebLink About0092 ANp !he sa~d Mo~tgagor nEreby t0~'cnpl~ti and ag?ees w~lh the eaid Morlqogee as fol!~ws: F~RST: l~hul IhF ~lortgogor ~s iow~vliy scized of ihe obove destribed prem;ses ~n fee ~imple and has gaod right to sell and can~ey the s~~me to the Morrgagee; rhat ~he iaic! premises ~re free ond d~scharged of an<+. Fror~ ail ~axes, tax nNes or cerl~ficates, judgrnents, mechunic's liens ar,d ercvm~rances nf ony nature or kin~ ~n~h~tsUever and that the Morl,o~et wil! fuliy warranf ond defend the samr. to tne hlorfgogec, ogcinst the lawful :laims and demands of oll parsons whomsoever, and wi!i make such fvrlher assurances fo p~~rfecl fe^ i~mplf! tilic to seid tund, dn the Mortgaye°, ns may reasonahle be required, c~~d w~li ,~oy ihe severc;l wms of money agreed in the said no~e to be poid and al~ in~tallmenls of printipal ond i7feresl thereon promptly when o~~c, ~nd accord~ng to th~ Ir~e tenpr pnd ef~ec~ of the said note. SECONU: That 1he Morlg~gor will poy af~ and singu~ar the tnxes. ossessmen?~ levies, on~ ent~mbwnces of every nature on the ab~ve desa~bed property, und upon this mo~igege ~nd note, or the meney secured thereby, before dPlinquency :hereof and receipls evidencing ~oyment of soid toxes, assessmenfs, lev~es and encumbronces shall be depositec! with the Morfgogee on or before March lst c,f each succeeding yenr during the term of this mortguge; and if same be not promptly paid wtien c~ue, the Nlorlaogee moy lw•ithou~ obl:gation t~ do so) poy the same, or betome purchaser of any lawf~l evidence thereof, ot :e:1i icate _ fhe~efor, withovt woiving or ~ffecting any rigiit hereuncfer and in this morfgage, or Ihe said note which this morlgoge setures; and _ such payments or expend~t~res so made shall beer interest f~om the date the?eof al fhe rate of~e~per tentvm per annum. . ~ n~.ne (9$) - THIKD: Tnal the Mortgagor will keep aii real and personal prope~ty now or hereafter encumbered by the lien of this ~ mvrtgage insured as may be required f~om time to time by the Mo~tgagee againsf loss by Pire, windstorm and ather hozards, . cosvalties ond tontingencies for such periods a~d for not less thon such am~unts as moy be required by the Mottgage~ and to poy prompily whe~ due all premiums (or svch in~urence. The amounts of suth in:urartce required by the Mortgegee are Qxpress~~e ~f only the minimum amounts for which said insurante shall be wriften and it shall be incumbPnt upon the Mcrtgagor fo moi~luin such - odd~lio~a't ~nsvr~r.ce a; may be necessory fo meef and cqmply fully with oll :o-insuronte ree,uiraments tcntained in said polities !o fhe erd thol said Mo~tgogor is not o co•i~suror thereunder. Insurance shall be written by a carnpany o! tompanies opproved by the Mortgagze and ol! policies and renewals thereof shall be held ~y the MortgugeQ. A~I detailed desig~otions by the M~rtgagor - which are atcepted by the A~ ~rtgagee and oll agreements between Mortgagor and Pvlortgagee relpting ro ~nsuror.ce, noyv existing or hereo4fer mode, shall be in writing and shall be c parl of this morfgage agreemenf os fullY as though set forth verbofim here~n and shuil govern both parties nereto and their su:cessors ond ossig~s. No lien upon any of said policies of ins~~rante oi upan uny refur.d or return premium which may be payable on ttie cantellation or termination ihereof, shall be g+ven to other than the tilort- - ~ gagee, eaccepf by pioper endorsement affixed !o sutfi polity and approved by Mortgogee. Eoch policy of insvrante shall have - af~ixec! ihereto o Standard Mortgagee Clouse octepiabie t0 the Nlortgngee, making all loss o: losses ~nder such policy payo~le ~ to fhe 1Nortgagee os its interest moy appear. In the event ony sum or sums nf money become porabfe thereunder 1he N1or!gogee shcsll ho~e the option to receive and apply fhe same on au~unt of the ir~c#eotedne~s he•Ebv setured, ar to permit Ihe Aiortgagor to - ~receive and use it, or any porl thereof~ without thereby woiving or impoiring ony equity, I~en or righf under and by virtue of _this - - . mortgage. (r. event of loss or phyiica) damage to the mortgaged property the Mortgogor shall give immEdia're notite thereuf by maif tc, the Mortg~gee and the Mortgagee m~y make proof oE loss :F the same is not made promptly by !he Mortgagor. in event ~ of foretloswe of this morfgaqe or.other tronsfer of tille to the rt:ortgaged properly in extingui~hment of the indebfedness secured hereby, all right, tille and interesF of the Mortgagar in and to any insurance policies then in force shali pQSS ta the purchaser or . _ grantee. Upon ~ny default there~f, the Mortgagee m~y (bpt witheut obligation on its part so td do) place ins~rance on svch build;ngs and poy the premium vnd charge suth sums sa ~oid ta the Mtirtgagor and such sums of money so paid shall bear interest - from the dafe cf payment at the rote of ~?C~et tentum per annum. , ~ ~ nine (9~) ~ FC)URTH: That all s~~rrts of money paid or toused to be poici by fhe Mortgagee un~'er the terms of this mortguge and herein . s~ecifisally provided for, and ir.c~uding ony etpenses incurre~! by the Mortgagee in collection of the~sum secured by this mortgage, - - shall be tovered by rh~ '~en of this morigage, the same as the sums of mor,ey represented by the note which this mortgage sec~res. FIFTH: To permit, commit or ~uf~e~ no waste, impairmenf or deterioration of soid property, or any part thereof, and upon ihe failure of the Mor~gagor to keep fhe buildiagz on said properfy in good tondition of repoir, The Murtgagee may demand the immediate repair of said buildings, or ~n increase in the amovnt of seturity, or the immediate r~payment af the ciebt hereby I secured, and the failure of the Mortgagar to comply with said demand of the Mortgagee for a period of fifteen (15) days shall constitute a breach of this mortgage, and, at thP option o~ tne Mortaagee, immedia~ely matur.: tne entir~. unpoid pcincipal anci interest hereby sec~red, ar~d the Mortgagee may, without notice, insfitufe proceedings tc foreclose this mortgage, and opply fo~ • the appointrtsent of a reteiver, as hereina~ter providad. : - - SIXTH: Thot th~ A+lortgagor here~y promises, covenonts and ogrees to poy the sums of money and interest as mentioned in sa~d promissory rote, ioyeiher v,ith any und olf other s~ms justly due and owing the Mortgagee by ihe terms therein, and secured . to 5e paid as stated therein promptly w~ien du~. !f defa~lt shal; be made in the payment of the said s~ms of money or any port tharecf as provided ~n the scid note or this mortgage, or if the inferest that may become due the~eon or any port thereof shall be f in defaulf and unpaid for a space of fifteen (I5) days, o[ shovld the Martgagor breoch or fo~! to comply with any otl~er tovenant = or agreemeni ~n fhe port of the Mortgagor to be cornplied with (in thdse ca;es in which the option of the Mortgogee of occelera- , tion is not oPherwise expressly provided herein) and such brecch or non-tompliance contin~e in existente for a s~uce of fifteen (15) ~ days, then and from thencef~rth, at the option of the Mortgugee and without n~tice to the Mortgogor, tfie whof~ of said pri~cipal E sum expressed in said no~e, together with all other sums therein as +vell os herein provided for, shall become immeaiately due and . - j payable, withoui noiice to fhe soid Mortgagor. ' s _ - t _ T . SEVENTH: Th~t in tase it should become netessary to ptace tnis mortgage and the note sew?ed hereby or e~fher of them, ` in the hnnds of cn otforney for collection, the said Mortgagar Covenonfs and agrees wifh the Martgo~ee "to poy a!I cosfs, charges ? a~d expenses of such collecfion, incloding reasonabiz; attorr.ey's fees whethPr colEected by foretlosure or otherwise. EIGIi1H: That, in tne event a~y suit is brought upon this mortgage, whe~her ±o foredose it, to reform it, or otherwise, E . and or to enfo~ce poyment of any doim hereunder, tne Mo~'tgagee may npply to any courf havinn jurisdicfion there~f for the appointment of a receiver of said mortgageo property, os well as the i~come, profits, issues vrtd-revenues thereof, onci the sa:d . . - -2- : _ ~~~x 239 ~~~E 9~ ~ ~ - _ ~ ~