The URL can be used to link to this page

Home My WebLink About0921 . ' • AND the aald Mortfle~w hsreby covsnants and aQree~ wiih the aakf Moctqaflee aa foltows: FIfiST: That the Mat~apor is lawfuly aeized of the ebove described premises in fee simple and has flood ripht to aell and convey the aame to the Mat~ape« that the seid premises are iree and diach~rped ot and from ail taxes, teuc titles or certificates, Judpments, mechanlc's Ilens and encumbranoea of any naturo or kind whatsoevsr a~d that the Mortyaqor will fuly waRant and defend tt~a s~~ !o tlse.Mort~agee, ~si~st the lawfui c~lms a~ dsrrsaruls ~ a!i parsorss wt~arsis~vsr, and will msk~ such further assurences to periect fse simple tttb to aaid lanct in ths Mat~eer aa may reaaonabls 5e rsquirec}, end will pay the several suma of money a~:eed In the sald note to bs peld and all Inat~liments of principal end intereat thereo~ prompty when due, and accordi~p to the true tenor and aHect of tha sald note. SECOND T~at the Monpayo~ will pay ali and sirpular the taxes, aaseasmenta~ levba a~d encumbrances of every nature on the above desc~ibed p~operty. and upon this mortyape and note, or ths money ascured thereby, before delinquency tl~ereof and receipts evidencin~ psyment of sald taxea~ ~suessmenta, Isviea and encumbrances shall be deposited with the Mcxt~eQee on a beforo March t at of each succeedinq year du~ir~ the term of this martflap« and if same be not prompty paid when due~ the Mo~tQaqes may (without obliQation to do s~ pay the aame, or become purchaser ~ any lawful evidence thereof. or certificate theretor, without wahrinp or affectin~ any ripht hereunder and in thla mortflaQe. or the said note whlch this mort~a~e seCUres; and such paymenta or expenditurea so made shall bear interest from the date thereof at the rate of highest legal rate per annum THIRD: That the Mo~tflaqo~ will keep all real end peraonai property now or hereafte~ encumbered by the Ifen of this mortyaye insured as may be required from time to time by tha Monga~ee aQai~at iosa by fi~ windstorm and other hazards, casualties and contitpenciea for auch periods and for not leas than such amounts as may be required by the Mort~ayee and to pay promptly when due all premiums fw auch insuranca. The amounts of such insurence requlred by the Mortpapee are expresaive of :.~!y ttss r.:3~::s:~s~ s,s:~r.:n:a ~h~h :r.susa.^~ a's~l: S~ ~stite:~ gr.s! :i sl:~!! , o:r..,^t:mbsn! span !!:s `~cs:^„a~ .a rr.a:ztob:. au~ additional inaurenc.e as may be neceasary to meet and Comply fuity with all cQinsurance ~equfrements contained in said poNcbs to the end that said Martfla~or ia not a co-inauror thereunder. Insurence ahail be written by a company or companies approved by the Mortyayee st~d ali policles and renewals thereofi shell be held by the MortflaQea All deffiiled deaipnallons by the Mortgagor which are axepted by the Mort~apee and all aqreementa between Mortfla4or and MOrtpaflee relatinp to insurance, now existi~ or hereafter made, shall be in writin~ and ahall be a part of thts mort~a~e aqresment as tuily as thou~h set forth verbatim herein and shall ~ovem both partiea hereto and thei~ succeaaors and assiyna No lien upon any of aaid poticles of Insurance or upon any refund or retum premium which may be payeble on the cancellatbn or tennination thereo~ ahall be piven to other than the Mort- gayse, except by proper endorsement afiixed to auch pollcy and appraved by Mortsa~ Each policy of insurance shall have aifixed thereto a Standard Mortpaflee Clause acceptable to the Mortya~ee4 makirp all losa or tosaea under such policy payable to the Mortyaflee as ita i~terest may appear. In the event er~y aum or sums of money become payable thareunder the MatQaqee shall have the option to receive and apply the same on ~unt of the indebtedness he~eby secured, or to pertnit the Mat~or to receive and use i~ or any part thereo~ without thereby waivinq or impairin~ any equity, lien tx riyht under and by virtue o1 thia mortgage. In event ~ losa or physicai dama~e to the mortQa9ed property the Mortpsqor shall yive immediate noik:e thereof by maii to the Mortyaqee and the Mortqa~ee may rnake proof of loss if the same is not made prompiy by tha MortQaQor. in event of forecbsure ot this mort~afle or other tiransfer of title to the mortga~ed property in extfnyuishme~t of the indebtedness secured , hereby, all ~iqh~ title and interesi of the Mortpaflor in and to any inaurance policies then in force shall pass to the psirchaser or gr-antea Upor? sny defautt thereaf, the Mortfleqee mey (but without oblipatbn on its part so to do) place insurance on such buildings and pey the premium and charpe such sums so paid to the Mortyayor end such sums of money so paid shaH 6~ear interest from the date of payment at the rate o~~LghP~? Q,gal rate per annum FOURTH: That sli sams of money pald ar caused to be paid by the Mortgaflee under the terms of this mortgaye and herein specifically provided for, and includinfl any expenaea incuRed by the Mortgagee in coilection of the sum s~scured by this mortgay~ sha8 be covered by the lian o/ this mortgafle, the same as the sums af money repreaented by the nofe which this mortflaye secures F!F?1t TQ ~nnf~ ~mmli ~r suffer no rra~t~ impairment or ~eterioratbn of said property, or any part thereof, and upon the tailure of the Mortga~or to keep the buildinga on said property in ~ood condition of repair, the Mortge~ee may demand the immediate repair of said buildir?~s~ or an increase in the amovnt c,! security, or the immediate repayment of the debt hereby secu~ed, and the failure of the Mortflaflor to comply wfth aafd cfemand of the MortQapee for a pe~iod of fifteen (15) days shall ~ constitute a breach of this mortqage, and et the optbn of the Mortgaqee, immediatey mature the entire unpaid principal and F interest hereby secured and the MortQayee may, yvithout notk~, institute proceedinpa to forecbse this mortgage, and apply tor ~ ; the appointment of a receiver. aa hereinafter provided. ~ ~ SIXTH: That the Miortqagor hereby promises, covenanta and ayrees to pay the sums of money and interest as mentioned ~ in said promissory note, together with any and all other suma justy due and owin~ the Mort~ayee by the terms thereir~ anQ secured t to be paid as stated therefn prompty when due. if default ahail be made tn the payment ot the sald sums of money or any part ~ ~ thereof as nrovided in the said note or thia mortgeaa or if the interest th8t msy become due thereon or any paR thereof shal! be ~ in default and unpafd tw a space of fifteen (15) days, or atwuld the MortQaqor breach or fail to comp4y with any other covenant ; ~ or reement on the pa~t of the Mort Qaflee of eccelera- F ~ s9 ~agor to be complied with (in thoae cases in which the optlon of the Mort tion is not othenvise expreasly provided herei~) and such Dreach or non-compliance continue in existence for a apar,e of fifteen (15) k days, then and trom thenceforth, at the optlon ofi the Mortqaflee and without notice to the Mortgagor, the whole of aaid principal sum e~cpressed in said note, together with ail other sums therein as wel! as herein provided for, shall become immediately due and payable without notice to the said Mongagor. SEVENTI-k That in case it should become neceasary to place thia mort~ge and the note secursd hereby or either of thert~ in the handa of an attomey for co~lectlon. the said Mortflayor covenanta and a~reea with tne Mortyagee to pay ell coats, chargea anci expenses of such oollectbn, inciudinp reasonaWe attomeya fees whether collected by Eoreclosure or otherwise. ~ E EIGHTH: That, in the e+rent any suit {a brouqht upon this mort~aqe, wfiether to torecbse it, to reform i~ or otherwise4 ~ and/or to enface payment af any claim hereunder, the Mortyaqee may apply to any court havinq jurisdiction thereot for the appointment d a receiver oi said mortqaqed property, as wei! aa the income4 prof~ts, issues and revenues thereof, end the said . ~ • ~R AG ~ ~ aoo~ ~ e f 9~~ ~ t ~ ~~~o -2- ~ ~ ~ ~ ~ a. . ~ - _ . ~ -