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Home My WebLink About0321 , . t ' . i ~ AN~ the said Mortyoyor hereby tovenants and agrees with the soid Mortgagee as lollows: FIi25T: Tha1 the Mo~lgago~ is lawfully seized of the obove described premises in fee simple ond hcii ~e.;d righs fo sell and ~ tonvey the same lo Ihe Mortgogee; thot Ihe said premis~s ore free ond discharged ef and f~om all toxes, tax iitles or ceriificaias, ; ~judgment;, methanit's liens and encumbronces oF any noture or kind wkotso~ver and that the Mor?gagor will fully warronf and defend the same fo Ihe A+lorlnagee, agains~ the lawful cloims a~~d demands of oll persans whomsoever, and will make such further assuronces to pe~fect fee s~mpls title to said land, in tf~e Mortgagee, as moy reasonable be requirad, anci will poy the seve~ol sums of money agreed in the said note fo be paid and all in,lollments of printipal ond inlerest Ihereort prompl~y when due, and att~rdi~g ta the true tenor and eftect of the sc~id n~fe. ~ SECQND: That the Morlgogor will pay all and singulor the taxes, a~sscssments, le.ie:s, and encumbrantes of every nature on the above descr~bed proper~y, and upon this mortgcge and note, or the money ~setured thereby, before delinquency thereof and receipts evidencing payment of said toxes, ossessmenls, Ievies an~i encumbrances shall be deposited with the Morts~agee on or before March ls1 of each succeeding year during the term of this mortQage; and if same be not promptly paid when due,'the Mortgagee moy (withoul obligdtion to d4 so) pay the same, or btcome purchoser of any lowful evidence thereof, or ce~t~ficale . fherefor, wilhout woiving o~ af~ectir~g any tighf hereunder and in fhis mortgage, Or fhe soid note which ihis morlgagr secur~s; and suth payments or expenditures sa mode shall bear interesf from the date thereof ot the rate of ~ per centu (~}~per annum. 1J~) THIRD: Tha1 the Alortgagor will lceep all real and personnl properfy now or hereafter encum~ertd by the lien ot this mo~tgage insured as moy be required from time to timc by the Mortgagee against loss by fire, windstorm and other hazards, cosualties-and conTingenties for such periods and for ~ot less than suth amou~ts as may be required by the Mortgage~ und to poy promptly when due .all premivms for such insurance. The amounts of such insurarxe requirtd by the :1Aortgage~ ore ~xpressive of only the minimum amountf for which said insurorxe shall be written and it shall be ~ncumbent upon the Mortgagor to rt~aintain s:?ch _ e additionol lnsurorxe os may be necessary to meet and tomply fully with all to-insurartte requirements contained in said p~ticies fio the end thuf said Mortgagor is not a to-i~suror thereunder. (nsurante sholl be written by a cornpany or tompanies approved by the Mortgdgee and ail policies and renewals thereof shall be held bY the Mortgage~. All detailed designations by the Mortgagdr ~ whith are accepted by the Mortgagee and ull agreerents be?ween Morfgagor anci Mortgagee relating to ins~ra~xe, now exis~ing or hereafter made, shall be in writing ancf shall be a port of this mortgoge agrecmen) os fully as though set fQrth verbatim herein and s{~all govern botfi parties hereto and ttieir s~cceswrs and ussigns. No lien upon any of said policies of insurance or upon any - _ refund or return p?emium v?hich may be poyable on the carxellation or terminafien the~eof, shall be givtn to ot~rer thon the Morf- ~ ~ gagae, excepf by proper endorsement offixed to such palitr and approved by Mortgagee. Each poticy of insurence shaU hare • affixed thereto o Sf~~ndard Morfgagee Clause acteptnble :o the Mortgagee, making all loss or losses under such palicy ~aya~le b the Mortgagee as i:s interest may appec~r. ?n the event any sum or s~~ms of money becom~ ~ayoble thereunder the Mortgagee shal) hoye the option to receive and apply fhe same on attou.^.~ of the :~debtedness hereby setured, or to per~~it the Murtga~or to receive and use it, or any part thereef, ~ithout fhereby waiving or impoiring ony equitY, lien or right under ond by v;rtur of this - mortgage. In event of loss or physital damage to the mortgaged property the Mortgagor s~all give immediote notice thereof by mail to the Mortgagee and the Mortgagee may ri~aSce proof of loss if the sa~n= os ~et macle promptly by the Morigagor. In event uf foretloskre ot fhis mortgar~e or other transfer of title Co ~fie mortgaged property in extinguis!~ment of the indebtedness secured , hereby, aU ri~ht, title and interest of the hlartgag~r in and to any insurarxe policies fhen in force shall pass to the purthoser or ~ grontee. Upon ony default thereof, the Mortgage~ inay (but witheut obligation on its pnrt so to do) place insurante on such ~ buildings and poy the premium and tharge suth sums so paid to the Mortgagor and suth sums of money so poid shall beor interest _ from the date of payment af the rate of~ per tantum (~,per annum. ~ FOURTH: Tihat all sums of moner paid c,t wused to be p~id by the Mortgagee ~nder the terms of this morlgage and herein , specifically provided for, and including any ~xpcnses i:~turred by the Morigagee in tollettion ~f the xum secured by this mortgage, shall be covered by the lien o( ihis mo~tgnge, the some as the sums of money represented by the note whith this mo~tgoge setures. FIFZ~i: To permit, tommit 9~ sui~er no waste, impairment or deterioration of said property, or any port thereof, dnd upen - the failure of the Mortgagor to kaep ihe buildings on said property in good condition of repair, the Mortgagee may demcnd ttie ~ immediate repoir of said buildings, or an intrease in the arr,ount of securiiy, or the immediate repa~rment of tfie debt hereby - ~ ; - secured, and the failure ofi the Mdrtgagor to tomply with said demand of the Mortgagee for a period of fifteen (15) days shali ~ constitute a breach of this mo~tgage, and, at the option of fhe Mortgaget, immediately maiure th~ entire unpaid prir.cipol and i interest ~erehy secured, and ihe Morf~ogee may, wifhout nofice, institute proceedings to foreclose this mortgage, and apply for ~ ` the appointmen~ of a receive~, os hereinafter providEd. ~ ~ I - z ~ SIXTH: Thot the Mortgagor he:eby promises, covenants ond agrees to pay fhe sums of mon~y and interest as mentioned in said promissory note, toget~er with any and all other sums justly due on~ owing the Mortyagee by the terms the*ein, ond setured ' ` to be paid os stoted therein prompllr whtn dur. lf default shaC be made +n the payment of the said sums of money or anY part ~ i - thereof as provided in the said note or this mortgage, or if the intettst that may ~ecom~ due thereon or any aart thereof shall be - _ in defoult ond unpoid for a space of fifteen (15) days, or shovld thg Mortgagor breach or foi~ to comply-with e~r t~ther tovenont or agreement on the part of the Mortgagor to be tomplied witfi (in inose cases in which the option of the Mortgagee of accelera- tion is noi otherwise expressly provided hercin) and su~ breath or non-compliante cantinue in existente for a spate of fifteen (IS) - days, the~ and from thenceforth, at the ~ptian of the Mortgagee and wi~houf notice to the Mortgagor, tht whole of said prirxep~) £ sum expressed in soid note, together with all other sums therein as well as hertin provided for, shpl! become immed]ately d~~ and - ~ payabfe, without noti~e to the said Mortgagor. E SEVENTH: Thct i~i case it shovld betomt ntcessary to place this mortgng~ and the note secured hereby or either of them, in the hands of an ottorney for tolledion, fhe soid Mortgagor covenantt and agrees with the Mortgagee to poy all costs, chorges - and expenses of such collection, including rtas~neble ottomey's fres whether tollect~~ br foreclosure or atherwise. - ~ EIGHTH: Thot, in the event ony suit is bro~~ght upon this mortgage, whe~her to foretiose it, to reform ~t, or ,otherwise, and. or to tnforce poyment of ony cloim hereunder, thw Mortgogee may apply to any court having jurisdiction tfitroof ror the # ~ appointment of a receirer of said mortgoged property, os weU as !he incomt, profts, iswes anci revenues therec,f, and the said . _ ~ _ _ ~ ~ : - - ; ~ BOOK ~~O PAGE ~.12~ : - -2- ~ ~