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Home My WebLink About2810 a ~ , 1 ~ . t 1 ~ J . tender to tl?c~ 'l~lortg~~~~~~ in e~ccur~lun~•~~ with Ihe provi~ions of tl~i+ notc~ secureil l~er~~b~~, (u11 pati•~ui~nl uf tiio entire indc.btedt~cs.g repr; .•~~nte~l ihE~rc+b~•, th~ :11orl~;agee, us truste~, sh~Zq, in coinputin~; tlu~ an~uunt ot sueh ' inclc~btedness, c~reilit to t1u~ act•aw~t uf tli~~ 11ort~?akar au~• cre~lit I,aluncc~ ri+~nninin~; wi~lrr th~~ provisions of (a) ; of ssiJ para~raph 2. !t thcrc~ shall be a ilefsu~t Wuler any o[ tli~ pro~•i.~ioi~s of tliis n~ortgit~e resuitin~; in n i publie sale of t}~e pre~mises co~~ereci hc•reb~•, or it ttio Alortgagt~e tsc~cJu~res lh~ proprrt~• otlier~~•isc~ uflc~r defAUlt, i 11ie Iltortgageo, as trust~e, shall apply, at the tiine of ti?o c~onunenePme~?t a! such ~~roceeclinga or ut il?~ tin~~ i il?e pro~ert~~ u~ otherwisc~ nc~quire~l, tl?e si~iount tl~en re~uiaininK to crt~~lit of ;~IortKngor undrr (a) of E~nra~;rap1? 2 preceding ~s a credit an tl~e is~terest nc~crue~l und unpai:I H11(I UlC `/f1I&Ilce to ttu+ principal thi~n ren~ai~?in~; u~ipnul ~ OA S@i(1 IlO~P. ~ 4. He witl pay all taxee~ aseesamente, water ratea, and other governmental or municipal charges, fine~~ or impoaitlo~, for which pro~zaion haa not been made hereinbefore, and in default thereof the Mortgagee may pay the ~ eame; and t~at he wiU promptly deliver the oH'icial receipta therefor to the Mortgagee. ~ b. He will permit, commit, or euPfer no waste. ~mpairment, or deteriuration of said pmperty or any part thereot § except reaeonable wear and tear; and in tAe event of the lailure ot i~e ~iortgagor to keep t~ha buildinga on saic~ ~ premieea and thoes to be erected on said premisee, or unprovements thereon, in g~od repair, the Mortgagee may make such repairs as in ita discretion it may cleem necesaary for the proper preacrvation thereof, and the full amount of each and every such payment shall be due and payable thirty (30) daye aiter demand, and ahall be eecured by the lien of this mortgage. . 6. He will pay all and singular the costs, chsrges, and eapenaea, including reasonable lawyer'$ feea, and coata of abetracts of title~ incurred or paid at any time by the Mortgageo because of the failure on the part of the Mortgagor promptly and fully to perform the agreements and covenants of Said promiasory note and thia inortgage, and eaid ~ _ coate, c6arges, and expenses ahall be immediately due and payable and shall be eecured by the lien of this mortgage. ~ 7. He will continuously msintain hazard insurance, oi auch type or types and amounts as Mortgagee may ~ irom Lime to time require, on the impmvements now or hereaiter on said premises, and 9~cept when pavment ~ tor a11 such premiums has theretofore been made under (a) of paragraph 2 hereof~ he will pas promptly when ~ due any premiuma-iJicr=for~ t• A}~ ~naurance sliall be carried in comperues approved bp Alortgagee aad the poli- ~ - cies and renewals thercof shall~A h~d by Mortgagee aad have attached thereto loss pQyable clsuses in favor of ~ and in form acceptablo to the I.~ortgag~e. In event of loss he will gi~~e immediate notice by mail to Mortgagee, - - ~nd ~fortgagee may make pro~f of Ioss if not made promptly by Mortgagor, and each insurance company ~ concerned is hereby authorized aud d'uected to make paynient for such loss d'uectly to Mortgage~e instead of ~ to biortgagor and Mortgagee jointly, and the iasurance proceeds, or any part thereof, may be applied by Mor~ . gagee at its option either to the reduction of the indebtedness hereby secured or to the restorat~on or repair of ~ - tbe property dama~ed. In event of foreclosure oi this mortgage or other transfer of title to the mortgaged Froperty in extinguishment of the indebtedness secured hereby, a~l right, title, and interest of the 141ortgagor ~ - in and ta any insurunce policies then in force shall pass to the purchaser or grantee. _ ~ i3. if tl~e preiuis~~s, ar ut?~• purt tliere~of, br con~l~~~un~~cl wul~~r tl~~ po~~~er of e~ninent ilau?uii, ur r~cquir~ ~l tor ~ u public usr. th~ daninr~~s nwnrdccl, tL~~ pror~~cvls far the li~kink of, or th~~ c•onsidrration for sucli acqutsition, to tlie e~tent of the full aiuount of t)ie r~•n?ainin~;~ unp~ii~l i~ul~bte~l~~ess s~~~•ure~l b~• this uiort~;ake, :~re h~reb~• ~ -assirni~d to ih~• \fort~;n~;~•e, un~l his lu~i~~ or iusi~ns, un~l ylu~ll b~~ pui~l fortl?~rith to suid \lortKa~;c~ or l~is ~ _ ussi~;nee to be~_appli~~el c»? nc•~•oui?t of th~~ lust i~~uturin~; inst:illui~~~~is of su~~li indrbte~lness: pr~~~•i~l~~d, lio~~•c~~•e~r, ~ the \tort~;u~c~~ ur l~is :issi~n~~~~, ~nu~- ut 1?is dis~•r~~tiuii pu~• ~lir~•rt to thc• ~Iort~;tt~;or, l~is iu~it~ ur ussi~;ns nnr p:irt - oi• ~ill of su~~li a~?•tinl; pco~•icle~t, tliiit if ihe loii~? is ~;u~u•unt~~~~~1 or ins~ir~~~l, t}ie consei~t of tiie gui~riintor or insur~r ~ is obtfliue~! in a~lsanc~ o[ siii~l pa~•tuc~nt. . _ ~ 1 The ~lortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdiction ~ thereof ~or the appointment af a receiver, and such court shall forthwith appoint a receiver of the premises covered `s . hereby all urid singular, includieg all and singulb. the income, profits, issues, and reve~ues from whatever source - derived, each and e~•ery of which, it being expressly undeistood, is hereby mortgaged as if specifically set forth and _ described in the granting and habendum clauses hereof. Such appointment shall be ~ade by such court as an admitted ~ equity and a matter_of absolute right to said Nlortgagee, and wi:.hout reference to the adequacy or inadequacy of the value of the pr~p2rty mortg~ged or to the solvency or insolvency of said hiortgagor or ~'~e defendants. Such g _ rents, profits, income, issues, and revenues shall be applied by such receirer according ta the lien of this mortgag~ ~ and the practice of such court. In the event af any default on the part of tF,e Mortgagor hareunder, ~he Mortgagor - agrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount at least ~ equivalent to one-twelfth (~2) of the aggregate of the twelve monthly installments payable in the then current ~ year plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year ~ not covered by the aforesaid monthly payments. f 4 ' ~ 10. In the event of any b*each of this mortgage or default on the part of the D~ortgagor; or in the event that t - any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the ~ event that each and every the atipulations, agreements, conditiona, and covenants of said note and this mortgage, are not duly, promptly, and fully performed; 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 securecs hereby, shall become ~ due and payable forthwith, -or thereatter, at the option of said hiortgagee, as fully and completely as if sll of the esid sums of money were originally stipulated to be paid on such day, anything in said note or in this mortgage to ~ ; the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice ~r demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had matured prior to its institu- tion. The tiiortgagee may foreclose this mortRage, as to the amount so declared due and payable, and the said j premises shall be sold to safisfy and pay the ~1me together wit~ costs, expenses, and allowances. In ca..~e of partial ~ f ~ foreclosure of this mortgage, t.he mortgaged premises shall-be sold subject to the continuing lien of this mortgag~ for the amount of the debt not then due and unpaid. In such case the provisions of this paragraph may again be availed of thereafter from time to time by the `iortgagee. ; ~ 1. No waiver of any covenant herein or of the obligation se~~ired hereby shall at any time thereafter be held 3 to be a waiver of the terms hereof or of the note secured hereby. - - 12. The lien of thie instrument ahall remain in full force and effect during sny postponement or extension of ! the time of payment of the indebtednesa or any Fart thereof secured hereby. 13. If the ~iortgagor default in any of the covenants or agreements contained herein, or in said note, then the ~ Mortgagee may petform the same, and all expenditures (including ressonable attomey's fees) made by the ~iortga~ee in so doing shall draw interest at the rat,e pro~•ided for in the principnl indebtedness, and shall be repa~ able 1,hirGy (30) days a[ter demand, and, together with interest and costs accrued thereon, sl~all be secured by this mortgage. _ - ; 14. Upon the request of the ~sortgagee the tiortga~;or shall execute and deliver a supplemental note or - ~ notes tor the suTr? or sums advanced by the \tortgagee for the alteration, modernization, impro~ement, r~~sin- tenance, or repair of said premises, for taxes or as.~essments against the same and for an~ other purpose author- ~ _ ized hereunder. Said notc or notes shall be secured hereby on a parity with and as fully as i! the ad~~ance _ ~ evidenced thereby were included in t~?~ note first descrihed above. Said supplemental note or notes shall bear interest at the rate provided for in principal indebtedness and shall be payable in a~pro!cimately equal . ~ monthly payment-s for such period as may be agreed upon b~ the creditor and debtor. Fail~ng to agree on the ; maturitv, the whole of the sum or sums so ad~°anced shnll be due and pa~•able th'srty (30) days afler dc:mand ~ by the creditor. In no event shall the maturi~y extend beyond the ultimate c~aturity of the note fitst ~ described above. - ~ i ~ 800K~~Q PACE2~~j~ ~ :i