HomeMy WebLinkAbout0956 And said Mortqagor for hiinselE and his heirs, leqal
representatives, successors and assigns, hereby covenants and
agrees to and with said Mortgagee, his-heirs, legal represen-
tatives, successors and assigns;
(1) To pay aIl and sinqular the principal and interest ;
and other sums of money payable by virtue of said Promissory Note '
and this Deed, or either, promptly on the days respectively the i
same severally become due. ~
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(2) To permit, commit or suFfer no waste and to maintain i
the improvements at all times in a state of gond reaair and con- i
dition; and to do or permit to be done to said premises nothing ~
that will alter or change the use and character of said property i
or in any way impair or weaken the security of this mortqaqe. And 3
in case af the refusal, neglect or inability of the Mortgagor to
repair and maintain the property, the Mortgagee may, at his
option, make such repairs or cause the same to be made, and
advance moneys in said behalf.
(3) Ta pay all and singular the taxes, assessments,
levies, liabilities and obligations of every nature on said
described property each and every when due and payable according
to law, before they become delinquent, and to deliver to the
Mortgagee on or before March 15th of each year tax receipts evi-
denczng the payment af all lawfully imposed taxes for the ore-
ceding calendar year; to imdemnify the Mortgaqee upon his demand
for all taxes, assess-ments and charqes that may be assessed upon
this mortgage on the indebtness secured hereby, and paid by the
mortgagee, without regard to any law heretofore enacted or
hereafter to be enacted imposinq payment of the whole or any vart
therof upon the mortqagee.
(4) To pay all and singular the costs, charges and
expenses, including lawyer's fees and abstracts costs reasonably
incurred or paid at any time by the Mort_qagee because of the
failiire on the part of the Mortgaqor to perform, comply with and
abide by each and every the stipulations, agreements, conditions ~
and covenants of said Promissory Note and this Deed, or either,
and every such payment shall bear interest at the rate of ten per !
centum per annum, j
(5) It is further covenanted and aqreed by said parties
that in the event of a suit being instituted to foreclose this
Mortgage, the Mortgagee shall be entitled to apply, at any time
pending such foreclosure suit to the Court having jurisdiction
thereof for the dppointment of a receiver of all and singular the
mortgaged property, and of a11 rents, incomes, profits, issues
~ and revenues thereof, from whatsoever source derived; and
' thereupon it is herebl~ expressly covenanted and agreed that the
Court shall forthwith appoint such receiver with the usual powers
and duties of receivers in such cases; and said appointment shall
I be made by the Court as a matter of strict right to the
i Mortgagee, and without reference to the adequacy or inadequacy of
~ the value of the property hereby mortgaqe3, or to the solvency or
insolvency of the Mortgagor or any ather party defendant to such
suit. The Mortgagor hereby specifica].ly waives the riqht to
~ object tc the appoin~ment oE a receiver as aforesaid and hereby
expressly consents that such appointment shall be made as an
admitted equity and as a matter of absolutP right to the
Mortgagee and that the same may be done without notice to the
Mortgagor.
(6) I~ foreclosure proceeding should be instituted
against that property covered by this Mortgage upon any other
lien or claim whether alZedged to bp superior or junior to the
lien of this Mortgage, the Mortgagee may, at his option imme-
diately upon institution of such suit or during the pendency
~ thereof, declare this Mortgage and the indebtness secured hereby
( due and payable forthwith and may, at his option, Qroceed to
~ foreclose this Mortgage.
(7) That ~he Mortgaqor will keep all real personal pro-
perty now or hereafter emcumbered by the lien of this Mortgage
2 gp~K ~?6 FAGE 956
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