The URL can be used to link to this page

Home My WebLink About1003 •i' • ~4 tencli~r tu tl?t~ ~;11uri~;u~;~•~~ in u~•~•ur~luu:•~~ w•itl~ the ~?n~ritiiuns ~~f tlu• uc~t~~ r~~c•utt•~~ 1?er~~l~~•, lull pt~}'nicul uf t1~e elitire i!ulebtcdnrss n+prc:~eute~l th~~rrt,~~, tlit~ ~lort~+?~;~~e~, as tru,~~~~~, ~I~~ilt, in c~,inputii~~; thc~ auiuunt of sucl~ ind~~b:c:clnrss, cre~lit to tlu~ ac~•~unt uf t}~e \iort~;K~;c~r un~• ;•rc~~lit I~iiliuu•e~ r~~~niiinin~ ?uulc*r tlie pr~~~•isi~~ns of (zt) of said para~raph 2. !f th~~r~~ shull bc a~lc(aitll uu~ie~r un~• of tlu~ ~~ru~•zwions ~~I tliis ~uort~;~~gc~ r~~sullin~? in e~ . public sale of ~?u~ }~rrn~i,c~s co~•rred hereL~•, or if tiic ~iort6n~;r:~ a~•~~u~res tlu~ proE?e~rt~~ ollu~r~s~s~~ e?fter cl;+fault, i tl?e ~lortgaKee, ns truate~~, slinll app1~~, at the tiii~e of thr ~~u~~~iiience~iient of sueli proeeeclings or t~t tli~ tiu~ca llie proprrl~' 4~ ather~vis~ ucquircd, the an~aunt tl~c~u reniuinin~,~ to c~r~~~lit af ~iort~;u~;or un~irr (n) of pnrukrapl~ 2 1 prccrdink ~ a c•r~~dit un thi~ i~st~~rest accruc~i und unpai~i t?t~cl t!`e l~nlancc to th~~ priucipt~l lh~~n rc~nuinin~ unpi~icl ~ un saicl notr. ~ 4. He witl pay all taxea~ ~eeasmente, water rates, and other governmental or municipal charges, finee, or ' impositions, for which pro~~sion hss not been made hereinbetore, and in default thercof the Mortgagee tuay pay the eame; and tLat he will Promptly deliver the official receipta therefor to the Mortgagee. b. He will permit, con~mit, or aufter n~ waste, irnpairnient, or deterioration of said propert}r or any part th~reof, except Teasonable wear and tear; and in the event of the failure o! the Mortgagor to keep thA buildinge on said i premisea and those to be erected on said premisea, or improvements thereon+ in good repair the Mortgagee may ~ make such repaire ab :n its discretion it may deem necessary !or the proper prescrvation tt,ereo~, and the full amount • of each and evety such payment shall be ~lue and payable thi.rty (30) daya atEer demand, and ahall be secured by ~ tho lien of this mortgage. ~ 6. He will pay all and aiagular the costs, charges, and ezpenaes, including reasonable lawyer'e fee~, and costa ; of ab3tracts of title, incurred or paid at any time by the Mortgagee because of the failure on the part of the Mortgagor s promptly and fully to ~,erform the agreements and covenants of Kaid promissory note an3 thia mortgage, and said ~ costs, charges, and expenses sha11 be immedietely due and payable and shall be_secured by the lien of this mortgage, ~ . ~ Ha will contiuuously maintain hszard insurance, of such type or typea and amounts as I1~ortgagee may : irom time to fime require, on the improvements novr or Lnreafter on said premises, and e.~cept when ~aym~nt _ ~ tor all such premiums h~ theretofore been msde under (tt) of paragraph ~2 hereof, he will pay promptly wnen ' due any premwms therefor. All insurancs shall be carried in companies approved by I1lortg~gee and the ~oli- ~ cies and ren~tiqnls ~here~f s}~all be ;~eld by I~4ortgagee and have attaehed thereto loss pa~~able clauses in favor of ~ ~ and in Porm acceptabl~; to't~a MortgAgee. In event of loss he will give immedistc3 notice by rnail to Mortgagee, ~ and ifortgagee may _make proof of Ioss if not made promptly by tiiortgagor, and each insurance companp ~ concerned is hereby authorized and directed to make payment for such loss directly to biortgagee instead of ~ ; to ;1lortgagor and `Tortgag~e jointly, And the insurance proceed~, or any part thereof, may be sppLed bp Mor~ f I ga.gee at its aption either to the reduction of f,he indebtedness heroby secured or to the restoration or repair of ~ tha property damaged. In event of foreclosure oi this mortgage or other Lransfer of title to the mortgaged k. property in extingwshment of the indebtedness secured herebp, a~l right; tit~le, and interest of the Mortgagor : in and to any iasurnnce policies then in lorce shall pass to the purchaser or grantee. - - R. If the prei?~is~~s, or uu~• purt tlu~reof, be ~•o~uli•~utu~cl tnul~~r tL~ po~~•~~r of e~niiiu~nt do~uuu~, or acyuir~~~l for ; u public us~, tlu~ <lnu~~~ges u~~•ar~lecl. tli~• pro~•eecls far the takin~; of, or th~~ ~onsidrruti~~n for surh-acy~~isition, to ~ ~ th~~ extc~nt uf tlie futl uuiount of Uu~ r~~t~ininin~; ilil})~ll(I iuclc~l,t~~~lnrss sei•ured i:~• this iu~?rl~.e;~c~. :~i•~ ht~rc~l~~' iissi~nt~cl to tlu• \Iort~:aK~~~~, i?n~l l~i~ h~~it~; ur i~csiriis,~ aui~l ,li:ill L~~ ~~i~i~l forth~cith to si~i~l ~for•t};:~~;~~c~ or liis ct~siknc~ to l~~ appli~~~l ~ui ?u•~•outit ot llir la,t ~n~ituriu~ in,t:~lliu~•nis of su~•h indcl~t~~dn~~ss; uro~•icle~l, 1?o~?•c~~•er, ~ ti~e ~Iort~;u~;ec~ ar his :issi~;n~~~~, ui~?~• ut liis ~li;~•r~•ti~~i? pu~- ~lir~•rt to tlic~ ~Iort~;l~h~?r, l~is lu~ir; ur ussi~~?s un~- part ; - or ull o( su~•li u~~~iird; pro~•i~l~~~l, thut if tlu~ tuun i, ~:u;u•;u?t~~~•~I or insurn~l, tlie ~•ons~~nt of tlu~ gutirantor or insurrr ~ is c~bt:ii~~e~l in u~l~•iinc~~ uf ,«iii pii~•nu~nt. . ~ 9• The ~lortgagee may, at any time pending n suit upon this mortgage, apply Lo t.he co~irt harring jurisdiction _ ~ thereof ior the app~intment of a receiver, and such court shall forthwith appoint a receiver of the premises covered - hereby all arid singular, including a11 and singular the income, profits, issues, and reveaues from whatever source deri~•ed, each and e~•ery of which, it being expressly understood, is hereby mortgaged as if specifically set forth and ~ ~ described in the granting and habendum clauses hereof, Such appointment shall be made by such court as an aJmitted ~ I equity and a matter of absolute right to said 1lortgagee, and without reference to t.he adequacy or inadequacy of : 4 _ the value of the property mortgaged or to the sol~~ency or insolvency of said Mo, kgagor or t!?e defendants. Such rents, profits, income, issues, and revenues shall 1Se applied by such receiver according ta the lien of this mortgsge_ ; and the practice of such court. In the event of any default on the part of the Mortgagor hereunder, the l~iortgagor t agrees to pay to the ~iortgagee on demand as a reasonable monthly rental for the premises an amount at least ; equivalen~ to one-twelfth (;42) of the aggregate of_ the ta•elve monthty installments payable in the then cwrent = - year plus the actual amouat of t~e annual taxes, assessmenta, water rates, and insurance premiums for such year = not covered by the aforesaid monthly payments. . ~ ~ l0. In the event of any b*each of this mortgage or default on the part of the liortgagor; or in the event that ~ any of said sums of maney herein referred to be not promptly and fully paid according to the tenor hereof, or in the ~ event that eaeh and ever3• the atip~.:lations, agreements, conditions, and covenants of sai~l note and this mortgage, are not duly, promptly, and fully perform~d; then in either or any such event, the said aggregate sum mentioned : in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become = due and payable forthaith, ar-t.hereafter, at the option of said hlortgagee, as fully and completely as if all of ~he ~ said sums of money were origi.nally stipuiated to be paid on such day, anything ia srsid nots or in this mortgage to - the contrary notwithstanding; and thereupon or thereafter, at the option of said ;1'Iortgagee, without notice ~r ' - deman~, sriit at la~ti• or in eqiuty, mAy be prosecuted as if all moneys secured hcreby ha.d matured prior to its institu- tion. The ~iortgagee may foreclose this mort~age, bs to the amount so declared due and payable, and the said psemises shall be sold to satisf_y and pa~~ thc c~me together a•ith costs, expenses, and allowances. In case of gartisl foreclosure of this mortgage, the mortgaged premises shall be sold subject to the continuing lien of this mortgage = for the amount of the debt not then due und unpaid. In guch case the provisions of this paragraph may again be ~ availed of thereafter fr~m Lime to time by the ~iortgagee. . - _ ~ 11. No waiver of any_ covenant herein or of the obligat.ion secured herebS• shall at an~~ time thereafter be held . to be a waiver of the terms hereof or of the note secured heTeby. _ ~ 12_ The lien of this inszrument ehall remain in full force and ef~ect during any postponement or extension of ' the time of pa~inent of the indebtedness or any part thereof securec! here~y. ~ l:i. If the hior?,gagor default in any of the covenants or agreements contained herein, or in sa~d note, then the ~ Mortgsgee may perform the same, and all expenditure3 (including rea..~onable attomey'e fees) made by the A1ortRa¢ee i~ ;u r3v uui„K si~ai? draw inieresi at the rate providc~l for in the principsl in~lebfedn~ss; and shal! ~e repa~•able ~ _ thirty (30) da}'s aftEr demand, and, together with interest and ccsts accrued thereon, shall be secured by ~ ~ . this mortgage. _ ~ 14. ~1pun the request of the Z~ortgagee the ~tortgg.~or shsll e~cecute and deliver a supplemental note er notes for the sum or sums ad~ anced b_y tLe ~tortgagee for the altcration, modcrnization, improvement, main- _ tenance, o: repair of said premises, fo~ tases or as.~essments against the same and for aa~• other pur{fosc author- ; ized hereunder. Said note or notes shall be secured hereby on a parity with ancl as fully as if tne advance evidenced thereby were included in lhe note first described sbo~ e. Said supplemental note or notes shall bear ' - interest at t},e r$te provided tor in the principal ir?debledness and shall be payable in approrimately equal ~ monthly pay ments for such period as may be agreed upon by the creclitnr anci debtor. Failing to agrce on the - ~ - maturity, the ~•hole of the sum or sums so ad••anced shull bc due And pa~•ablc thirty (30) days after demand i by the creditor. In no event shall tbe maturit.y e~tend beyond Ghe ultimale r~aturity af the note first deseribed sbove. - ~ 2 . ° ~ 240 ~1~2 ~ - ~ soo~ x . ~ ~ ~ ~