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Home My WebLink About1108 AN~ Ihe so~d Mo~lyago? hereby tcven~Ms ond ag?ees With Ihe soid Mor?gagee as follows: FIRST: That the Nlorigogor is lotifully seized of the obovc descr~bed premises iR iee s~mple and has ~ood cight to sell and convey fhe same to the Mortgagee; tliol the sai~ premises or~ f~et and dischorged a.` ond from oll taxes, iax titles or cert~ficates, _ judgmenls, methanic's liens and encumbrontes of any nuture pr kind whatsoeve~ and tha! the Mortgagor will fully worranl and ' defe~d the same to rhe 1~1o~fgogee, againsl the lawful cla+ms and dtmands of all persons whomsoever, and will m~ke suctr furthet 1 ossurances 1o perFect fee s~mplr title to said land, in the Mortgogee, as may reasonable be ~equi~ed, ond will pay the severnl ~ s~ms of money ogreed in the said nofe to be paid and all insfollmenfs of principal and infe~est fhereon prempffy when dve, and ~ ~ occord~ng 10 1he t~ue tenor ancl ef~ect of Ihe soid note. i SECONO: That the Mo~tgagor will pay alt and singular the toxes, ~ssessments, levies, ond encumbra~tes of every noture ~ on the above described pr~perfy, end up4n this mortgage and note, o~ ;he money setured thereby, before delin~uency thereof ~ ond receipts evidencing pc~yr-~4nt of soid taxes, assessmenfs, Ievies ond encumbrances shall be deposited with the t~lortgagee on t~r before March : st of eoch succeedinq yeur during Ihe term of this morfgage; and if same be not promptly paid when due, the # - Mortgagee may lwithovt obliga~ion 1o do se) pay the same, o? become purchaser of any lowful ev~den:e thsreof, or terti~icate ~ lherefor, without waiving or of{ecting any righf hereunder ond in this mortgage, or f!;e saiJ note which this mortgage sec~res; and ~ ' such poyments o? ezpenditures so mode shall bear interest frpm the dafe thereof at the role of eight per centum ptr annum. : - 3/4 ($.75$) t - THiRD: Thot Ihe M~rtgagor will keep all reai and personal property now or hereaffer encumbe?ed by the lien of this z mortgoge insured os moy be ~equired from time to time by the Mortyagee against loss by fire, windstorm and other hazards, ~ cas~alties and contingenc+es.for such periods and for not less thon svch amounts as may be required by the Mortgagee ond to poy ~ promN~iY whe~ due all premiu~ns for such insurance. The amounts of such insurance reqvired by the hilorlgagee are expressive of . ~ only the minimum amounts (or which said insurance shait ~,e w~itten and it shall be inzumbent upon the Mortga~or to mointoin such j add~tionol insuronce os moy be necessory to meet and comply fully with oll co-insurance requirements coataiaed +n said ~+olities to ~ Ihe end that soid Mortgagor is ~iot a co-insuror thereunder, Insurance shall be written by a coinpany or tompanies approved by the ? Mortgogee ond all policies e+~d renewals Ihereof sholl be hetd by the Mortgogee. All detailed designotions by the Mortgagor ! which arc accepted by the~Mortgagee and all agreements betwetn Mortgagor and Mortgagee relating to insurarxe, now existing ~ ~ or hereofter made, shnll ba in w?iting and shall kie a po~f of this mortgage agreement as fully os though set forth verbatim herein ; ond shalt.govern both parties hereto and ~heir successors and ossigns. No lien upon any of said policies of insurance or upon ony ~ € • refund o~ ret~~m premium which moy be poyabie on the cancellation ot ferminafion thereof, shall be given fo ather lhon the Mort- . ~ gagee, except by Qroper endorsement afiixed to svch poticy and approved t+y~ Martgogee. Each policy of inwiance shall have ~ affixed thereto a Standord Martgagee Ctavse acceptoble to the Mortgogee, mak+ng olt toss or losses under such policy payoble f to the Mortgagee as its interest moy appear. ln the event ony sum or sums of money beccme poyoble thereunder the Mortgagee - t sholl hove the option to reteive ard apply the same on atcount of the indebtedness hereby secured, or to permit the Mortgagor to ` _ receive and use if, or any port fhereof, without thereby waiving or impairing any equity, lie~ or ~ignt under a~d by virtue of this _ ; mortgage. In event of lass or physical damage to the mortgaged property. the Mortgogor shall give immediate natice thereof 6y . mail to the Mortgagee and the Morigagee moy make proof of loss if the sume is not mqda promptly by the Morfgogor. In event ~ of foreclosure of this mortgQge or other transfer of title to the mortgaged property in exting~ishme~t of the indebtedness secured ~ hereby, al) right, title and interest of the Mortgagor in and to any insuronce policies then in force shall poss tt+ the purchaser or ~ grantee. Upon ony ciefavlt thereof, the Mortgagee may (but withouf obligolion on its part sa fo do) place insuronse on such _ buildings and pay the premium and chorge such sums so peid to the Mortgagor and such sums of money so paid shaH beor interest t ~ fron me dafe of poyment ot ihe rote of ~+9~& 3/4ntu ($~~j r annum. ' _ FOi1RTH: That QII sums of money paid ar caused to be paid by the Mortgagee under Ihe te~ms of Ihis mortgoge and herein . specifically provided for, and including ony expenses inc~rred by th_e Mortghgee in collection of the sum se~ured by this mortgage, shall be covered by the lien of this mortga~e, the some os the sums of money represenled by the note v++hich th~s mortgage sewres. , ~ . ~ : FIFTN: To permit, commit or suf~er no waste,. impairment or deterioralion of said property, or any part Ihereof, ond upc+n ; ihe iailure of the Morfgagor to keep the buildings.on said property in good condition of repair, fhe Mortgagee moy slemand the : immediate repoir of said buildings, or an in~.reose in the amount of seturity, ar the immediofe- repoyment of the debt hereby • ~ secured, ond the foifvre of the Mortgagor to comply with said demond of the Mortgagee.for o period of fifteen (15~ days shall ; consfir+~te a breach of this mortgoge, ond, at the option of the Morigogee, immediately mature ~he en~ire ~npaid principol and < I interest hereby secured, and the Mortgogee may, without notice, institute proceedings to forettose this mortgage, and apply for ~ the appointment of o.receiver; as hereinafter provided. ~ ~ SiY,TH: Thot the M~rtgagor hereby promises, covenants and agrees to pay the s~ms of money and interest as mer.tioned in soid promissnry note, together with ony and all other sums justly due and awir,g the Morlgogee by the tetms therein, and secured ~ . to be paid as stateu~ therein promptly when due. If defaul! shal~ be ~ade in the payment of the said sums of money or onr Purt r - : thereof os provided in the said note.or this mortgpge, or if the interest fhat moy become due there4n or any part Ihereof shall be ~ in default and vnpaid for a space of fifteen (15) days, or should the Mortgagor breoch or fai) to comply with any other covenant ~ or a~reement an the part o1 the Mortgogor to be compli~d with (in fhose cases in which the opfion of the Mortgagae of accelera- ` ~ . tian is not othP~wise expressly provided herein) and such breach or non-complionte continue in existence for o s'pace of fi`teen (15) - ~ . days, then and from Itierxeforth, of the option of thz Mortgagee and wi!hou? notice to the Mortgagor, the wh~le of sa~d ~-incipal ~ sum expressed in said r.ote, together with o41 other sums tfierein as welt as herein provided for, sholl become imme~liotely due and ~ poYoble, withoot notice to the s~id Mortgagor. _ _ - - ~ - _ ~ SCYENTH: That in case it should become necessary to p:ate this mortgage and the note setured hEreby or eiYhsr of them, - - in the honds of an attorney for collett+on, the soid Mortg~gor covenonts ond agre~s wifh the Martgagee to poy aN costs, charges ~ and expenses of s~ch collection, includi~g redsonable ottomey's fees whether collected by foreclosure or otherwise. EIGHTH: That, in the event any suit _is brought upo~ this morfgage, whether to foreclose it, to reforrrt it, or orherwise, and 'or ro enforce payment of'any daim hereunder, the Mortgogee may apply to ony cour~ having jur~sdiction thereof for the oppointmen? of o reteiver of soid mortgaged property, as well as the iricome, profits, issues and revenues thereof, ond fhe soid _ - - - _ . ~ . ~ - • ~ - - ~ - ~ _ - B~ox 239 ~h~F 1~U7 ~ . . ~ - - . - - - ,