HomeMy WebLinkAbout0959 ;
(f) To keep the mortgaged property at all times in '
good order and repair, and to permit, commit or suffer no waste, ;
impairment or deterioration of said property or any part thereof.
~
(g) To perform, comply with and abide by each and ;
every tlZe stipulations, agreements, conditions and covenants in ~
said Promissory Note or Notes and in this Deed set forth.
~
(h) 'Phat if any of said sums of m~ney herein referred ~
to be not prompt].y and fully paid within fifteen (15) days next
after the same severally become due and payable, or if each and
every stipulations, agreements, conditions and covenants of said
Promissory Note or Notes and this Deed, or either, are not fully
performed, complied with and ~bided by, or if all or any part of
the property or an interest therein is sold or transferred without ~
Mortgagee's prior written consent, the said aggregate sum seGUred
by this Mortgage shall become due and payable forthwith or
thereafter at the option of the Mortgagee as fully and completely
as if the said aggregate sum was originally stipulated to be paid
on such day, anything in said Promissory Note or Notes or herein
to the contrary notwithstanding.
(i) That in order to accelerate the maturity of the
indebtedness hereby secured, because of the failure of the
Mortgagor to ~ay any tax, assessment, liability, obligation or i
encumbrance upon said property, as herein provided, it shall not ~
be necessary nor requisite that the Mortgagee shall first pay the ~
same. ~ ~
2. The lien hereof shall extend to and include the use, ~
rents and profits of said mortgaged property, but the Martgagor ;
shall have the right to remain in possession, enjoy the use, and ~
receive the rents and profits thereof, without accounting to the ~
Mortgagee theretor, so long as there shall be no default ?
hereunder, provided that in the event of any such default ;
hereunder for a period of fifteen (15) days, the Mortgagee shall ~
be entitled to the possession and use of said mortgaged property, ~
and to receive and apply the net rents and prof its thereof , upon
and toward the payment of the indebtedness Iiereby secured.
. ~
3. In the event there shall be filed a cornplaint to
foreclose this Deed, the plaintiff shall immediately and without
notice be entitled to the appointment of a receiver for the
mortgaged property and the rents, earnings, issues, income and
prot-its thereof, with the usual power of receivers in such cases,
and sucl~ receiver inay be continued in possession of said property
! and of saici rents, earnings, issues, income and profits or said
! property during the ~endency of such foreclosure suit, and the
Mortgagor hereby specifically waives the right to object to such
appointment and consents that such appointment shall be made as an
~ admitted equity and as a r~atter of absolute right to the
Mortgagee, and without reference to the adequacy or adequacy of
' the value of the mortgaged property or to the solvency or
II insolvency of the Mortgayor or any other party defendant to such
suit.
i
I 4. No sale of the praperty hereby mortgaged and no
~ forbearance on the part of the Mortgagee, and no extension of the
time for the payment of the debt hereby secured given by the
Mortgagee shall operate to release, discharge, modify, change or
affect the original liability of the Mortgagar herein either in
whole or in part, and shall not be a waiver of Mortgagee's right
to accelerate the aggregate sum secured by this Mortgage.
5. The lien of this Deed secures and shall continue to
secure payment of said indebtedness or indeb~edness~s, however
; evidenced, whether by said Promissory Note or Notes or any renewal
~
3 -
BUOK 5rf ~7 PA.f,E i~~7
~ v ~