HomeMy WebLinkAbout2299 9. That if the principel or interest on the nota~ herei~?;described or ahy part of the indebtednesa eecured hereby
or intereat thereon be not paid whEn due, or if hiort~aRor ahell fsil to pay any taxes, asseasments~ chargea, or im oei-
Y'
tions as the asme become due and ayable, or ii d~fsult be made in the full and pro*npt performanc~ ot any coven~nt
or agreement herein contained, or i any uroceedings be ingtituted to nbate any nuisance on the Mortgaged Pr~mlaes
or if any proce~dings be instituted which might result to tho det~iment of the use and enjoyment of the premisea, or
if I?iortgagor is edjudicated a bankrupt or insolvent, or if any law shall be enacted or decision rendered by any court
of last resort im~
~s~ng any tax or assessment not now in clfect upon this mortgage, or the note securnd hereby, or
urij' Ii1Z2FcSL af a'tia~T~~r'n~c2 lii t~t'c i~OT~ngca~ ~'ic~isi8, uP F2ii~@YiiiK iiiu~'r~;~a~ivt~ ~~lU uiiueriakin~ Oi' Ib70~Cg8 t~F i~ j18y
i
all taxes arising as a result of this transaction other thnn taxes on the interest income herefrom~ or wh ch reaulta
in the deduction from vslue of land, for tax purposes, of the amount ~f any lien hereon, or altering the isws for the
taxing of mort agea or debts secured thereby, or if the Tiort~t~gor, ~vithouL first obtaining the written consent oi the
biortgagee, sha~l grant, bargain, sell or convey the Niortga~eci Premises or any part thereoi, including timber~ then on
the happening of an~~ one or more of these events, this conve~ance shAll become absolute and the whole indebtedn~a
secured hereby shall immecliately become due and payable nt thQ option of the biortgagee and this mortgage may
thereupon be foreclosed for the whole of said money, interest and costs, or I11ort gagee may foreclose only as to eums
past due without injury to this mortgage or the displacement or impairment of the remainder of the liee thereof~ and
at such foreclosure sule the property shall be sold suUject to sll rnmnining items of indebtedneas and the Mortg~ngea
may again foreclosc in the snme manner as often as there be u?iy sum past due,
i
10. If ut any time after default by DiortRxgor a receivership may be necessary in the opinion o! Mortgagee
to protect the lien hereof, or at the time of or after th~ in::titution of suit to collect the indebtednens hereby aecured, ~
or to foreclose this mortgage, 3~iortgagee shall, us an ndmitted equity and as a maiter ot atrict right and segard-
less of the value of the property, or the solvency or insol~~ency of Riortgagor or any party bound for the pAyment ;
of the indebtedness have the right to the flppointment, on e~ parte applicntion nnd without notice to anyone~ bq any {
proper court havir.g jurisdictior., r.f ~eceiver, ~~~hich receivcr shxll have all of the broad and effeetive powera ;
and functions in any wise entrusted by the ceurt to a receiver, to take chnrge of, manage, pmserve, tnaintain~ care °
for and protect the Aiortgeged~ Premises and to collect rents, issues, proceeds, produce, profit, income and revenu~ oi
the 11lortgaged Premises from whatsoerer source derivecl; to mnke eill necessary or needful repairs and to pmvide for
the Mortgflged Premises As set forth in pnragrnphs 5 nn~1 G al:ove, and to mnrket the products thereof and receive
and collect the proceeds thereof and such receivership shntl, r;t the option of biortgagee~ continue until the full pay-
ment of all sums hereby secured, or until title to the Diortgaged Premises shall have passed on sale under s tore-
closuro of this mortgage.
11. Should Niortgagor and Diortgagee hereafter enter into nny ugreement morlifying or changing the tetms of r
this mortKage or the note secured hereby in nnp psrticular, the rights of the parties to such agreement ahall be euperior
to the rights of the holder of any intervening lien or encumbrance. ~
3
12. Without affecting the liability of any person (other than any pcrson released pursuant hereto) for payment of ;
any indebtedness secured hereby, and without affectiiig the lien hereof upon any property not released pursuant hereto~ i
Diortgagee may at any time and from time to time, withuu't IIOLICn; °
(a) Release any person liable for payment of any inde6tedness secured hereby. ~
~
(b) Renew the indebtedness, or extend the time, or agree to aiter the terms, of payment of any o4 the indebt- '
edness. {
(c) Accept additional security of any kind. '
(d) Release any property securing the indebtedness. ~
~i
(e) Consent to the making of any ma~ or plat of the biortgaged Premises, or the creation ot any easements ~
thereon or any covenants restricting use or occupancy thereof.
~
13. Tf the indebtedness secured hereb • is now or hereafter further secured b chattel mor ;
y y tgages, pledges~ con-
tracLa of guaranty, assignments of leases, or other securities, ~iort.gngee may at its option e~:~Saust any one or more 1
aY ssid securities and the security hereunder, either concurrently or independently, snd in auch order ae it may ~
determine.
~
14. No delay by ;4iortgagee in exercising an~ ri~ht or remedy hereunder, or otherwise afforded by lew, shsll ~
operate as a waiver thereof or preclude the exercise thereof during the continuance of any default hereunder. ~
e
16. That the Mortgagor shall permit the ~iortgagee or its representatives to examine and inspect the premisea ~
at any reasonnble times. ~
• Y
This mortgagx shali inure to and bind the heirs, le~atees, devisees, administrators, executors, ~ucceaaora and
sasigns of the parties hereto. Wherever used herein, the singular number shall include the plural~ the plnral the #
singular, and the use of any gender shal! be upplicable to all genders. ;
~ d
-L_„ L- ---L--~-~ --L--- ~=--L----~ ~
~ auaiti~-~~cc o~inii uc ~ uvcv[jot,cu ili ~l~c lcaY~~~a oi~~l aaa..+a vi oaa j+wa~aa.~ ~..voc ~,,w...,a va .a~,.:p aac ~+aRas~a6~.v va }
paid with the proceeds of the loan secured hereby. 3
~
, ~
~
~
a
i ~
` i
!
i ~
~ , 4
~ - t
E ~
~
~
F
IN WITIJESS WHERLOF, t~is mortgage has been duly executed by the Mortgsgor. -
Signed, aealed and delivered
in the prea~nce o1: ~
;
. " ' (Sexl) !
} Ph p B ~ a ' ~ ~
-`-~~~1~ , (BexU ~
_ ,
`ti~ Rosalind B. Tgleh t ~
~
c
f
$oox 13~ 4~3 i
~