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Home My WebLink About0931 { I Eender to the Mortge{;ee in sccordence wili~ the provisio~ua of ll?e note secur~d 1?erebv, tull pa~~~ne:?b of the eatire indebte~inesa repr~sented th~rebv, the Morlgagte, aa lruste~, ahall, in computing the aniount, ot such indebtulneaa~ crcclit to tl~e sc..ount ot tlie MortgaRor any credit balenca re~naining under tl~e provisions of (a) of said ph 2, lt there sl,vll be • detault under any ot the provisions ot this ~nortga~e reaulting in a public wJ~he premiaes covered herebv, or it the Mortgagre scquires the property otl~erwue stter default, ~ the Mot•.,gagee, as trustee, shall apply~ ~t the time ot the co~nmencement ot euch proceeding~ or at tl?e time i the pmperty ~a otherwise acquired, the amount then re~~?aining to credit ot Mortgagor under (a) of puagrapl~ 2 : preoeding as ~ credit on the interest ecerued u~d unpaid snd tl~e balance to the principal then remsin~ng ~npeid ' on said no6e. - 4. Mo~o r rviU p~yr a11 taxea, assesaments, water ntes, and other govemmenW or municipd chargea, finea, or ~ impadtioas, ~or wbicb provision haa not been made Lereinbeton~ aad in default thereoR the Mort`a6~ ~Y WY ~ ~ sacne; and will protnpUy detiver the ofticial receip~ therefor to the Mortgagee. b. Mortgagor will permit, commit, or suffer no waste, impairment, or deterioration of said property or any part thereof, except reasonab!e wear and tear; and in the event of the failure of the Mortgagor to keap i the buildings on said precnises ~nd thase to be erected on said premises, or improvements thereon, in good 4 repair, the Mortgagee may make such repairs as in its discretion it may deem necessary for the proper ~ presen+ataon thereof, and the full amount of each and every such payment shall be due and payable thirty T (30) days after demand, and shall be secured by the lien of this mortgage. 6. Mortgagor ~vill pay W and singular the costs, charg+es, and expe~sses including reasonable lawyer's [ees, and costs of abstracta ot tiUe~ incurred or paid at any time by We Mortgagee because of the failure on the pa:t of the Mortgagor prompUy and tully to pertorm the agreemeata and covenants of said promissory note and this mortgage, and said casts, charges, and expenses shsll be immediately due and payabie and shall be secured by the lien of this mortgage. 7. Mortgagor will continuously maintain hazard insurance, of such type or types and amounts as Mortgagez may irom ~ time to time requirn, on the impro~ements now or hereafter on said prnmises, and except when payment for all such premiums has theretofore been made under (a) of paragraph 2 hereot, he/she will pay prompUy when due any premiums therefor. All insurance shall be carried in companirs appmved by Mortgagee and the policies and renea aIs thereo[ shall be held by Mortgagee and have attached thereto lasa payable clauses in favor of and In form acceptable to the Mortgagee. In ~ event o[ loss he/she wlll give immediate notice by mail to Mortgagee, and Mortgagee may make proo[ of loss if not made prompUy by Mortgagor, snd each insurance company concerned ia hereby authotized and directed to make payment for ~ such foss directly to Mortgagee instead ut to Mortgagot and Mortgagee joiatly, and the insurance proceeds, or any part ~ thereof, may be applied by Mortgagee at its option either to the reduction o[ the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosurn of this mortgage, or other tnnsfer of tiUe to the mortgaged property in extin~uishrnent of the indebtedness secured hereby, aU ri~t, titie, and interest of the Mortgagor in and to any insurance pdiciea then in force shall pass to the purchaser or grantee. Y 8. If the premises, or any part thereof be condemned under the power of eminent domain, or ~ acquired for a public use, the damages awarded, the proceeds for the taking of, or the consideration for < such acquisition, to the extent of the full amount of the remaining unpaid indebtedness secured by this ; mortgage, are hereby assigned to the Mortgagee, and his or her heirs or assigns, and shall be paid ~ forthwith to said Mortgagee or his or her assignee to be applied on account of the last maturing - installments of such indebtedness; pmvided, however, the Mortgagee or his or her assignee, may at his or her discretion pay direct to the Mortgagor, his or her heirs or assigns any pazt or all of such award; ~ provided, that if the loan is guaranteed or insured, the consent of the guarantor or insurer is obtained in ~ advance of said payment. ~ 9. The Mortgagee msy, et any time pending a suit upon tliis mortgage, apply to the court having jurisdiction theteof for the ap~+ointment of a receiver, and auch oourt s6all fort.hwith appoint s receiver of the premisea covered ~ hereby all arid singular, including all and siagular the income, pto5ts~ issues, and revenuea from whatever source ~ derived~ each and every of which~ it being expmssly underatood, ia hereby mortgaged as if apeci6cally eet forth and described in the granting and habendum cisuses hereof. Such appointment ehall be made by such court as an edmitted 3 equity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of - the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or the defenda~ta. Such ; rents, pro5ts, income, issues, and revenues shaU tfe appliPCl by such receiver according to the lien ot this mortgage ~ and the ~ractice of such court. In the event of any default on the part of the Mortgagor hereunder~ the Mortgagor ; agrees to pay to the hiortgagee on demsnd as a reasonable monthly aental for the premiaea an amount st least 3 equivalent to on~twelfth (~z) of the aggregate of the twelve monthly installments payable in the then current ' ~ year pl~a the actuai smount of the annual taxee, ss4essmente, water ratea, and inaurance premiume for such year ~ not covered by the aforessid monthly psymenta. ~ 10. In Lhe event of any b*each of this mortga~e or defaiilt on the part of the Mortgagor; or in the event that ' ` any of said sums of money herein referred to be not promptly and fully paid according to th~ tenor hereof~ or in the ~ t event that each and every the etipulstions, agreements, conditions, and covenanta of said note and this mortgage, ! sre not duly, promptly, and fully performed; then in either or any such event~ the said aggregate aum mentioned ~ in eaid note then remaining unpaid, with interest accrued to that time, and all moneys secured herEby~ shall become ~ due and payable forthwith, or thereafter, at the option of seid Mortgagee, as fully and completely ~ if 811 of the ~ said sama of money were originally etipuleted to be paid on such day, anyLhing in aaid note or in this mortgage to ~ the contrary notwithatsnding; and thercupon or thereafter. at the option of said Mortgagee, without notice ar ; demand, suit at law or in equity, may be prosecuted as if all moneys aecured hereby had matured prior to ita institu- ~ tion. The biortgagee may foreclose this mortRage, aa to the amount eo declared due and-~syable, and the said a premises shall be sold to satisfy snd psy the same to{~ether aith coets, ezpenaes, and allowances. In case of partial ~ forecloeure of this mortgage, the mortgaged pmmisea ahall be sold eubject to the oontinuing lien of this mortgsga for the amount of t~e debt not then due and unpaid. In suc6 caee the pmvisiona of thia paragraph may again be rt availed of thereafter from time to time by the Mortgagee. ~ 11. I'~o ~vaiver of any covenant herein or of the obligation eecured hereby ahall at any time thereafter be held ~ to be a waiver of the terms bereot or oi the note eecured hereby. l2. The lien of this inbtrument ahall remsin in tull force and eBeet during any poatponement or extension of " the time of psymea! of the indebtedneae or any part thereof eecured hereby. ~ 13. If tbe Mortgagor default in sny of the covenanta or agreementa contained herein, or in 8aid note, then the ' Mortgagee may perform the same, snd aq expenditu~a (including reasoneble attorney's feea} tnade by the Mortga~ee ~ in so do~ng shall draw interest at the rate provided for in the principai indebte~iness, and sha11 be repayable ~ thirty (30) days after demand, and, togQther with interest and costs accrued thereon, shall be secured by ~ t~is mortgage. ~ 14. Upon the request o! the Mortgagee the Mortga~;or shall execute and deliver a supplemental note or ~ notes tor che sum or sums adv$nced by the ttortgagee for the alteration, modernization, improvemcnt, main- ~ tenance, or repsi~ of said premises, far taxes or a~~essments against the same and ior an} ocher purpose author- ~ ized Lereunder. Ssid note or notes shall be secured hereby on s parity with and as fully as if the advance ~ evidenced thereby were included in tAe not~ firat described above. Said supplemental note or notes shall bear interest at tLe rste provided tor in the principal indebtedness and snall be psyable in sp pmximately equsl monthly paymenis !or such period as may be a~reed upon by the creditor and debtor. Failing to agree on lhe msturity, the wbole of the sum or suma so sdvanced shall be due and payeble thirty (30) days after demand by t6e credil,or. In no event shail t,he maturit,y extend beyond t6e ultimate rssturity ot the note first ~ deacribed above. ~R 931 B40K 5~~ PAGE ~ ~ _ _ _ - ~ - u.~ ~ - , ~ _ . _ , : - _ ~ _ • _ ~ _ - - - _ _ ~ . ~