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Home My WebLink About0153 AND ?he sai~ M~r~go~o~ hereby covenants and agrees with the said Mortgogee as fo~lows: FIRST: Tha~ the Mortgagor is lowfufly seized of thc above described premises in F~e simple ar.d has good righl to scll and convay Ihe same to ~he Morrgagee; ?hat the said premises are free and dischorged of and fram oll tcxes, tax fitles c+r cer.>ifcafes, judyments, mechanic's liens and enrumk+ronces uf any noture or kind ~•hatsoever er~d thot Ihe Mortgagor witl fu!ly warran! und de(end the same to tne Mortgagee, ogoinsl the luwful claims ond :~emonds of oll persons whomsaever, and wifl make such furthe~ ; cssurances to perfecl fee simple tille to said land, in the Mortgopee, as may ~easonab!e be required, and w~ll poy ~ne sever~l sums of money a~~eed in the said nofe to be paid and all installmenls of printipol and interesf fhereon promQtly when due, and according lo ihe fr~e tenor and effect of the said ri3ie. . ~ SECOND: That the Mortgagor will puy all and si~igular the fazes, assessmenls, levies, and encumbrantes of every nature < on the above desiribed property, and upon Ihis mo?Igage and note, or the money secured thereby, before delinquency ~hereof ~ and receiQts eviden;ing payment of said taxes, assessmenls, levies and encumbrontes sholl ~+e deposit~d with the MortaagEe on or ~ ~efore Morch lsl of eazh succeeding yeor during the term af this morlgage; and if sama be nol p~omptly oaid when due, the i Mo:tgagee moy (without obligation to do so) poy the same, ar become p~rchoser of qny lawful eviderxe it~ereof, or ceriificate i - therefor, without wa~ving or affetting ~ny right hereunder and in fhis mqrfgage, or !he said riale whi~ tiiis mortgage ~~r~~~ao~d . such poyments or expenc~itures so made shail bear interesl from thP date thereof ot the rote of eighr ner tentum~ per annu . _ & three-Pciurths ~ THIR~J: That tha Mor!gagor will keep oll real and personal property now o~ fiereafter encumhertd by the lien of this morlgage insured os may be required from time to ?ime by the Mortgagee agoinst loss by fire, windslorrtt and other ha:nrds, cas~olties and contingenties for such periods and for not less ihan suth amounls as may be reqyiresl by the Morfgagee and fo paY promptly when due all premiums for such insurance. Th~ omounts of suth insura~ce required by the Morfgagee are expressive of only Ihe minimum amounts"for which soid ins~~rance shall be wrifte~ ond it sholl be iru.umbenl upon the Mortgagar to maintain such - additional insurance os may be necessory to meet ar.d tomply fully wiih oll to-insurance requirements confained in soid polEcies to the end that said Morlgagor is not a co•insuror fhereundar. Insurance shall be written by a company or tompanies approved by the Mortgagee a:~~ all policies and renewals thereef shall he held by the Mortgagee. Al) detailed designations by the Morfqagnr wf~ich cre accepted by the Mortgagee and all agreements befween Mo~fgagor and Mortgagee relating to insuronce, now existing ~ ~ or herenfter made, sholi be in writing and sholl be a part of this mortgage agreement as fufly os though set forth verbotim herein ~ and shafl govern both porlies hereto and their suctessors ond assigns.~No lien upon any of said pblicies of insurance or upon any ~ ~efund ~r return premium which may be -payable on the car~cellation ~r terminat:on thereof, sfiall be given to other than the Mort- ~ ~ gagee, except by proper endorsement affixed to such polity ond approved by Mortgagee. Eath policy of insurance shall have i afFixed thereto a Standard M~rtgagee Clause acceptable ?o the Mortgagee, making al! ioss or losses under svch polity poyable ~ t~ the Mortgagee as its interest may oppear. :n the event-any sum or sums of money betome payable thereunder ihe Mortgagee ' shall have the option to ~eceive anu opply the snme on account of the indebtedness hereby setured, or to permit the Mort~7agor to receive and use it, or any part fhereof, wi4hout thereby waiving or i::~pairing any ec,uity, lien or right under and by virtve of this anortgage. !n event of (o~s or physital damage to ihe mortgaged property the Mortgagor sholl give immcdiote notice thereof by mail to fhe Mortgogee and the 1Aortgc~~e may make proof of loss if the same is not made prom~tly by the Mortgagor. ln event ~ of fo~eclosure of this morl~age or athzr transfer of title to the mortgaged properfy in extinguishment of the indebtedr:ess secured i hereby, a!~ riqhl, tiNe and interest of the Morigagor in ond b any insvra~ce policies theo in force shall pass to the purchoser or grantee. Upon any default thereof, the Nlortgagee may ~but without obligotion on its part so to do) plate insurante on such buiidings and poy the premium ond chorge such sums so paid to ti~$Af,t~~or and suth sums of money so paid shall bear interest . o from the date oF payment at the rate of eight~„pefh~et~m ~~1S nnum. • ar z - FOURTH: That all s~ms of money paid or coused to be paid by the Allortgagee under the terms of this mortgoge ond.herein specificolly provided for, and including nny ezpenses incurred by the Mortgogee in collettion of the sum secur~d by this mortgage, ~ . shall be covered by the lien of this mortgoge, fhe same as tf~e sums of money represented by the note which this mortgage secures. ~ FIFTH: To pe~mit, cammit or suffer no waste, impairment or deterioration of soid property, or any part thereaf, ond upon ~ the fa:lure of the Morlgagor to keep the buildings o~: soid property in good condition cf repair, the~Mortgagee may demand the immediate repQir of said buildings, o~ an intrease in the amount of seturity. or the immediale repayment of the debt he~eby secur~d, and the faiiure of the Mor:gagor to com~iy with said demand of the Mortgagee for a period of fifteen (15) days shatl s " constitute a breoth of this mortgage, and, at the option of the Mortgage~, immedialely mature the entire unpaid principa) and f i interest hereby secured, and the Mort~ogee may, without notite, institute proceedings to forectose this mortgage, and appty for ; - ~ the appointment of a receiver, as hereinof!er provided. . } . ~ _ SIXTH: Thot the Mortgagor hereby promisea, tovenonts ond egrees to pay the sums of money and interesi as mentioned ~ . i~ sa~d promissory note, together with any and all other sums j~~stly due and owing the Mortgagee by the terms tFerein, ond secured ~ to be paid as sfeted thereen promptly when due. If default shal~ be made in the payment of the said sums of money ar ony part ~ ~ thereef as provided in the said. note or this mortgage, or if the interest thnt muy become due thereon or onr part thereof shall be _ in defaulf and unpoid for a spate of fiftee~ (IS) days, or should the Mortgagor breach or foil to comply wifh onr arher tovenant , ~ or agreement on the part of the Mortgagor fo be compfied with (in those =ases in which the option of the Mortgagee of acceleca- f tion is not otherwise expressly Frovided herein) and such b~each or r.on-compliorxe :ontinue in existerxe for a sp~ce.of fift~en (15j d~ys, the~ tsnc~ from therxeforth, at t~e option of the Mortgagee and wi!hout notice to the Mortgaqor, the +vhale of said princin~l ~ sum e~pressed in soid no!e, tagether with all other sums therein as w.~4t as here+n provide~ for, shall become immediate{y due and ' ~ payable, withovt not;ce to the seid Mortgegor. - 'j i ~ SEVENTH: That in case it should become necessary io place this mort~age and the note secured hereby or either of ihen, ~s - in the honds of an attorney for collection, the said Mortyagor tovenants o~d agrees with the hlortgagee to pay ull costs, charges ond expenses ef wch collection, irxlud~ng reasonaDle ottomey's fees whether co!lected by foreclowre or utherwise. i . EIGtiTH: ~hat, 6n the event any suit is brought upon this morPgage, whether to foreclose it, to reform it, or otherwise, ( and or fo tnfo?te poymenl of any daim he=EUnder, fhe Mort~agee may apply to an, tourt hoving jurisdittion thereof for the ~ oppaintment of a re<eiver of soid mortga; ed property, os well ~s the income, profits, issues and revenues thereof, ond the said { , _ - _ ~ . ~ ~ - I . _ _ 2 ~ BOOK ~4U PAGf ~5J