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Home My WebLink About0962 ~nder t~o the Mortgsgee in aooordanos wilh the pro~isions o~ tl~e note ~ecue+ed heraby~ tull p~ymen~ ot the eu~le+e indebt~edna~ rspresented tharoby ~ the MoKga~e~ s~ truatee~ shall, ia oompueing t,he unoun~ oi such Indebtedaea~ crodi~ to tl~e accoun~ of ehe Mon.gsRor any crodit balance remaining under the prov~ion~ af (s) ot s~idp~n~t~ph Z. It there ahal! be ~ detaul~ unde~ any oI the provrioTw ot this mo~tga~ei re~ul~ing in ~ publ~a sale of the premisa covered hereby~ br it the Marlgagee ucquires the propeny o~herwne att.er detaul~~ t,he Moriga~ee, as trwt,ee~, shaU ~pply~ ~t the time ot the commencement o[ ~uch pmceeding~ ar ~t ~he time ~be properiy ~ o~hen?i~s acqoi~d, the ~mount Lhen re~~i~ining to credit of Mortgagor under ot pangrapt~.Z preoeding w~ credit on the in~ereat socrued and unpaid aad tlie balance to the principal ~hen remaining unpaid on said note. He ~111 pUr all t~uro~, ~e~e~eats, w~ter rate~, *ad ot6es v~aameatai or munlelP~ ol+*e~e~ Sae~„ ~s t6e ~o ~a impo~ition~, ioe wWoL provtoioa h~s nat been msde 6ereiabafore, ~nd ia ~twl~ ttre:eot tbe Mortpi'~ ~+Y P,Y ~ ; ~ams; ~nd thati bs wIll P~omPtyy deliver t6e o~aial reoeipfe t6erefor to the Morf~ee. i b. He ~rill permi~, oummit, or aiffer no w~, icup~irment or deterioratJon ot raid P~P~Y o=bu~~ part thenof s ea~oept ra~eonsble ~r and t~r • ~nd ia the avent of the laijure oi tbe Mo:t~o r to keep tM~ din~e on aid pcemisa~ and t,hae to be ereate~ oa atd premteae, or improvementa thereoa~ in-~ood npair the Mortg~gee muy mal~e sueh np~ies ~s in its disentioa it msy deem neoee~ary ior theproper pre~c:rvat~on thereo~ aad t~he full amounti ot each aad every wah p~ymenti ~h~ll be due ~ad p~yabb thirty (30) d~ys dte~ demaad, ~ aball be ~eaured by tbs liea ot this anort~e. ~ d. He wtll p~y ~11 and singuLr ~ t~e ooeta, ~1~+ 1;he Maad expenue~, ineludins e~a~eon~ble Lwyer'~ fees, and oosta ot sbstr~?et~ of Utle, iaewred or puid ~t aay time by art6sgee bea?we oi tbe f~ilure on the part ot the Mort~a~or promptly ~nd i~y to pedorm tbe agreemente und oovenaats oi taid pmmiewry not~e and thts. mo , and eaid oosta, ebarges, sad expeneee ahall be immedIately due and pnysble aad shsll be reaurEd by the llen ort t~mortgage. ~ 7. He will oontinuously msintain hasard ineur~nce, oi euch type or t~ypes and amaunts as Mortgagee may trom Lime to time require, on the improvementa nov? or heresiter on said pramisee and except ~rhen psyment tor aU suc6 premiuma ht~ t~heretofore been mada under oi p•~.Fb a b~ot ~e vviU p~?y pmmpWy wben due say pnmiums ~horefor. All insuraaoe ehai! be csrned in companue approve~ by Mo~a~ ee and the poli- cies and renewals thereof shall be held by Mortgagee ~nd 6sve attached thereto loes paysble cTeueee ia fevor oi and in form acceptable to Lhe Mort~sgee. In event oi loss he will give immediute notice by mail to Mo~rtgsgee~ aad Mortgagee msy mske,prooi oi toea if not mada pmmpWy by Mortgsgorr and e~h inauranoe,oompsny y ns ooncaraed is hereby~authonzed snd directed to mske psyment for such lo~a du~ecW to Mortgagee instead oi ro e to Mortgagor and Mortgagee ointly, and the insurance proc~eeds, or ~?ny part thereot msy be ap~phed bp Mor~ gsgee af, ite option either to t~e reduction oi the indebtednees hereby secured or to t~6e reetor~taon or repair oi t6e property dama~ed. In event oi foreclosure oi this mortgage or other t~rsnafer oi title to the mortgaged property in extingu~sbment of the indebtedneas eecured hereby, ail right, title, and intereet oi tbe Mortgagor sa and to any inaurance policiea thea in force shsll pASS to t6e purchsaet or grantee. 8. If the Pre~uisc~s, or an~• purt tl?ereof, be conde:unhcl under the? power of en~inent domnu~, c,r acquired for a public use, tlie damages awarclecl, tlie proceecls (or tlie teking of, or the consiclerntion for sucli acquisition, to the extent of the tull amount oi tl~e ren~aining unpaid indeble~lnesa serured b~• this mortgage, are liereb~• asaigned to tl~e Mortgagee, nnd hi.4 heirs or assigns, ancl s)~nli bc~ pui~l forthwitl~ to said Mortgagec or h~s ass~gn~ee to be applied on acc•ouut of thc last u~ntur~i~K installments of sucl~ indebtedness; provi~led, 1?owever, the MortR~ee or lus nssignee, ma~ at his cliscrelion pn~• dirert to t1~e Mortgagor, l?is 1?eira or assigns any part or all of sue ~ awarcl; provided, tl~nt if the lonn is guuranteecl or insured~ tl~e eonsent of tl~e gunrantor or insurer ia obtained in advsnce oi said pa~•~iietit. 9. The Mortgagee msy, st any time pending s auit upon thia mortgage, apply to the oourt huving juriedIction thereof for the appointment of s reoeiver, snd euch court aball forthwith appoint s receiver of the premieea oovered bereby all attd ~ingulsr, including all and eingular the income~ pro6te, ieauea, and revenues from whatever eouroe derived, each und every of which, it being eapreaaly underetood, ie hereby mortgaged ae it speclficslly set forth and described in the ~anting and hsbendum cluusea hereof. Such sppointment ahall be msde by such oourt ~aa an sdmitted I equity sad s matter of absolute r~ght to eaid M~rtgagee, snd without reference to the adequacy or inadequacy of ' tke value of the pmperty mortgaaed or to the eolvency or ineolvency ot eaid Mortgagor or t~e defendanta. $uch reate~ Pcofite, inoome~ iea~ea~ snd tevenuea sball be spplied by such receiver acoording to the lien of this mortgsge snd the prsctioe ot auch oowt. In the event of any default on t6e part of the Mortgagor hereunder, the Mortgagor a~eee to psy to the Mo on demand as a rESaonsble montbly rental for the premisea an wnount st leaat equivslent to one-t~?el(th~ oi thea~ga te of the twelve montbly inatsllmente payabte in the then current esr lus the sctusl amount of the annual taxes, aeeessmenta, wster ratee, and ineuranoe remiuana for eucb ear P P Y Y not covand by the Joresaid monthly psymente. 10. In tbe event of any bresch of thia mortgsge or defaWt on the part o! the Mortgagor, or in the ev~t that any of esid euma of money herein referred to be not promptly and fully paid according to the tenor hereof~ or in the event thst eaeh and every the stipulstiona, agreemente, conditlone~ and oovensnta of esid note sad this mortgage, an not duly~ promptly~ sad tully performed; then in either or any auch event, the eaid aggregste aum mentioned in eaid note thea remainina unpsid, ~rith interest accrued to that time, and aU moneys eecured hereby, ehall beoome , d~e and psyable torth~?ith, or theree?fter, st the optian ot eald Mortg,sgee, aa fully and completely as if sll of the said sums of money were originally stipulated to be psid on auch day, anyLhing in eaid note or in this mortgage to the oontrery notwithstanding; aad thereupon or thereafter, st the option of said Mortas~ee without notioe or demand, suit at law or in equiL~, msy be pmeecuted ae if ell moneya eecured hereby had msture~ prior to ite inatttu- Uoa. The Mortgagee may forecloee t6is mortgage, aa ta the amount eo daclsred due und psysble, and the said pnmieea ahall be eold to aatiafy and psy the asme together witb eosta, ~e~tpeaeee, and sllopances. In cmee of pertial fonclosure of thia mort~sge, !he ~mortgaged premises aball be sold subject to the oontinuing lien of this mortgaaa !or the unount ot the debt not thea due and unpaid. In euc6 caee t~e proviaions of ~hia paragrsph muy sgain be svailed ot t,hera?ft,er lrom tSme to time by the Mortgagee. l 1. No waiver of aay oovea~wt henin or of Lhe obligation eecured henby st~all st any time thereafter be he3d to be a w~ivcs of the terms bereoi or of the note eecured henby. 12. 1'he lien ot t~is inatrumeat ehall remain in full torce e~nd effa~ during sny postponement or extenaion d tbe time ot pnymeat of tbe ind~btedneas ar aay p~rL thereof secured benby. 13. U the Mortga6or def~ult in any d tbe oovenants or aareementa contai~ her~in, or in esid not,e, then the Mortgagee msy perlorm the rsme, aad ~?tl acpenditur~ (iacluding nasonsble attorney's fees) msde by the MortssRee in so doin ahall draw interest at the nte pmvided for in the principal indebtednese, and shall be rep~yable tbirt,y (30~ days Jter demand~ and, together with intereat and coata accrued thereon, she?tl be secured by this mortgage. 14. Upon the request oi the Mort~agee t6e Mortgagor a6at1 eaecute and deiiver a aupplemental note or notes for tde sum or swns advanced Dy the 1~[ortgsgee !or the alterstion, modernizstion, improvement, msin- t~en~nc.~; or repsir oi esid premises, for taxes ur aseessments againat t,he aame snd for ~oy other purNose author- iud 6ereunder. Said note or notes ahalt be secured hereby on a psrity wit~ ind as tully as ~t the advance evideaced thenby were included in the aote first deecribed ~bova. Said aupplemental note or notea shall bear inter~a~ st the nte provided fo~ in ~he principsl indebtedness aad shsll be psyabla in s~ pproximstely egusl monthly psyments for such period as may be agreed upon by the cnditor and debtor. Fail'uig to agrce on the maturi~y, tbe rrbole oi t~he eum or sums su sclvdnce~f shslt be due snd payable thiKy (30) ~sys after demand by ~6e crcditor. In ao event eball the maturi~y extend beyoad t~6e ultimate maturity oi the nate Hrst described abo~e. . BOOK 5~~ PACE a7V~