The URL can be used to link to this page

Home My WebLink About0928 t,aader to lhe Mortgagee in ~ooorda~ce witl? the provp?ions o~ llie note secured 1?ereb~, fu1l~p~ymenL o~ the~ en~ire indebeedn~ repreaented tberabv~ the Mortg~ee. M trustee, sha11~ je comPuting t!?e ~uuounL of such iadebt~ednas~ cralit w tl?e ~count ot tl~e Mortg~gor ~ny credii~ bsl~noe rein~ining under tl~e provaions ot ot eaidp~u~rap h?. It there shaU be • de~aule under sny ot lhe provaions of this inortg~e raulting ia ~ , pubtic sale o[ iha premises covered he~+ebv, or it the Mortgagee arquins the propeny otherwae after default~ ~t~~ ths Mortgagee~ as tnatee, shi?U ~pplY~ ~t the time ot Me canmencement of euch proccedingt or at tl~e time the pmperty is othecwi~e acquired~ the ~mouaL then re~ii~ining t,o credi~ ot Mortg~gor under o! paragr~ph 2 preosding a~ ~ credit on the intereet i?ccrued ~nd unp~id i?ad the bal~?nce to the priacipal then remaining unpsid on eaid nut~. ~ 4. Mort~o r will p~y tll taxea. atsexmenb~ water rates, and othergo vemmenLal or municlpa! chargas~ tine:~ or impodNoaM Ior whteh providoa has no! been made herelnbefo ~ sod~ de~~ult t,hereoi tLe Mo~t~sgee my? P~Y ~ . sune; and wUl promptly deliver the oMci~l recetpk Weretot to the ort . 6, Mort~agox will permit, commit, or sufler no waste, impairment, or deterioration of said property or any part thereof~ except reasonable wear and tear; and in the event of the failure of the Mortgagor to keep t2ie building~ on said premises~nd thvse to be erected an aaid premisea, ~r improvements thereon~ in good repair, the Mortgagee may make such repaira as in its diacre~ton it may deem necessary for the proper preservation thereof, and the full amount oi each and every such payment shall be due and payable thirty (30) days after demand, and shall be secured bY the lien of this mortgage. 6. Mortgsgor wflt pay ~11 and singul~ur the costs~ cha , and ex n~es fncludfng reaionabie lawyer's feea, and costa of ur ~s abstrncta oI tiUe incurred or paid at any time by the Mortgagee u:e of the idlure on the part oi the Mortgagor ha~rgpes, a d npefoses~sh~ilibe lrnmedl~y due d paY blenand ehall bepsecuc~ed y the lien of thia mortgage. ~a ~d casts, 7. I?iortgagor wtll contlnuoualy maint~n hazatd insurance, ot auch type or types and unounts as Mortgagee may from time to time require, on the improvements now or hereatter on said premtsea, and except when payment for all such premluma has theretofore been made under (a) of pangraph 2 hereof~ heJai~~ wilt pay promptly when due any premiuma therefor. All insurance shali be c~ied in coqtpan~ s,pp~OVed by Mortgagee ~nd the policies and renewals thereoi ahall be held by Mortgagee und have attached thereto losa payab~e dauses In f~vor oi and in tomn ~cceptable to the Mort~?gee. In ' event ot loaa he/ahe wW give Immediate notice by maU to Mortgagee, and Mortgagee may make praoi ot losa if not m~de prompUy by Mortgagor, and each insursnce company concerned is hereby authotized and dlrected to make Qayment for such losa direcdy to Mortgsgee inttead of ta Mortgagor and Mortgagee jointly, and the insurance proceeda, or any part thereof, m~yr be applied by Mortgagee at its~option either to~ the reducdon of the indebtedneaa hereby secured or to the restoratlon or repair of the property damaged. in event of forecloaure oi thia modgage, or other transfer ot title to the mortgaged property in extinguishment of the indebtedness secured bereby, aU ri~t. title~ and intereat ot the Mortgagor in and to any insurance pdicies then in farce ahall pasa to the purchater or grantee. 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 matunng - installm~nts vf such indebtedness; provided, however, the Mortgagee, or his or her assignee, may at his or her discretion pay direct to the Mortgagor, his or her heirs or ass~gns any part 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~ at any time pending a auit upon thia mortgage~ apgly to the oourt hsving juriadiction tLereof for the appointment of a receiver, and such oourt ehslt forthwith appolnt a receiver of the premises covered hereby nl! aiid singular~ including sll and aingular the inoome, pro6ts~ issues, ead r~venues from whatever eource derived, each and every of which, it being expressly underetAOd~ ia hereby mortgaged ae if apeci6cmlly eet forth and - deacribed in the granting and habendum clauses hereof. $uch sppointanent ahall be ma.de by such court ae sn admitted equity and s matter of absolute rig6t to eaid M~rtgegee, snd w~thout reference to the adequacy or inadequacy of the value of the pmperty mort~agcd or to the eolvency or inso[vency of Qsid Mortgagor or tbe defendants. Such rents, profita, income, issuea~ and tevenuee ahall be appliec! by such receiver acoording to the lien of this morigage and the practics of such court. In the event of any detault on the psrt of the Mortgagor hereunder, the Mortgagor agreea to pay to the Mor aa demand sa ~ reaeonable monthly rental for the premieea an ~?mount st lesat equivalent to one-t~reltth ~ of thea~r~ ate of the twelve monthly instaltmenta payable in the then curtent year plua the s?ctusl amount of the annual taxee, sseessmeate, water rst~, sad issuranee premiume for auch ya?r not oovered by t6e uforeaaid monthly paymente. I0. In tbe event of any b*each of thia mortgage or defsult on the psrt ot the Mortgagor! or ia t6e event that ~?ny of ~id suma of money herein refened to be aot pmmptly and iully psid accordir?g to the tenor hereof~ or in the event Lhet eacb and every the atipulationa, agreement8~ conditions, snd oovensate of eaid note snd thia mortgage, are not dWy, promptly~ und fully pertormesl; then In either or any auch event~ the esid aggregate aum mentioned in esid note then remainiu~ unpaid, with intereat accrued to that time~ and all moneye aecured hereby, ahall become due snd psyable forthwith~ or thereafter, st the option of said Mortgagee, aa tully snd c~mpletely aa if all of the said ~ma of money pere orialnAlly atlpulat~ to be paid on eueh dsy~ anyLhing in esid note or ia thie mortgage to t6e eontrery notwithstanding; aad thereupon or thereafter~ st the opUon of esid Mortgagee~ without notice or demand, suit at lew or in equity~ may be prosecuted ae i( ell moneya aecured hereby had matured prior to ite inatitu- tion. The hiortga~pe may loreclose this mortgage~ aa to the amount eo declared due snd psysble~ aad the snid premiees ahall be sold to satisfy and pay the same together wit6 coste, expeneea, and s~Uowancee. In caee of partial foreclosure of thia mortgage, the mortgaged premises ahall be aold subject to the continuing lien o! this mortgage for the nmount of the debt not theq,du~ and unpaid. In such caae the provisiona of thia paragraph may agsin be ~ availed of theresiter irom time to ~time by the Mortgagee. 11. No ~re~iver of any oovensnt herein or of t6e obligaLioa eecured hereby shall at ~ny fame thereatter be heW to be a waiver of tbe terma hereof or oi the aote eecured hereby. . . i2. T6e lka of tbis ia~crument ehs1l ramaia in full torce sad eftect during any postponement or extenaion ot the time of psyment oi tbe indebtedneee or any part thereof secund henby. 1:;. Ii the Mortaagor default in any of the covensnta or n~reements contained herein~ or ia aaid note, then tAe Moctgagee msy perform the esme. aad all expeuditwes (including rea8onable sttorney'e ieea) made by tt?s MortgaRee in eo doin shsll dnw interest, al, the rate provided for in the principal indebtedness, and shsll be repsyable tbiriy (30~ d.ys stter demand~ snd, together with intereso ~nd costa accrued thereon, s1?sll be secured by tbis mortgage. 14. Upon the request of t6e Mortgagee the Mortgagor shall eaecute and deliver s supplemental note or not~ea for the sum or sums advenceci Dy the titort{;agee tor the slteratan~ moderni~ation, improvement, main- teasnca, or repai- of said premises, tor tazea or a~essmenta against the aame and tor any other purpose author• - ized hereunder. Ssid noi,e or notea shail be secured hereby on a psrity with and as fully aa ~f the advance evidenced tbereby were included in the note firat, described above. Said a~ipplementsl rwte or notea shsll bear intereat at the rste provided for in the principal indebtedneas and shsU be psysble in sp proximstely ~qus! monthly p~ymenta tor auch period as may be a~eed upon by the creditor and debtor. Fsil'u~g to ~grte on tha . m~turity, the wbole ot the sum or sums eo sdvanced ahall bQ due and pe?yabie thirty (34) days atter demsnd by tbe creditor. In no event s6all the maturit,y extead beyond t6e ultimate raaturity of trhe not,e firat dacribed ~bore. ~ ~o~+c54~ Pac~ 928 . _--_~~~~_=w~~__~.~.~_.._-.- - ~ _ _ . ~ _