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Home My WebLink About0942 . '1 . . ANb the said Mo?IQ~qc+r hareby covanants and oyr~~s•with th~ soid Mortpopee as follows: FIRST: That fhe Mortpagor is law(ully seized of tho above desu:bed premises in fee simpla and hos Qood riQh1 fo ~ell and convey the same lo the Morlyaqea; thot Ihe said premises ot~ free and disthorqed of ond ~~om all toxes, lox fitles or s6rfifkotes, judqments, methonic's liens and encumbrantes of any nature ~t kind wholsoeve~ and that the Mort~apor will lullr warranf ond . defend fhe same to the Mo~tqayee, a9ainst fhe lawful tla~ms and demands of oll pa~sons whomsoever, ond wifl make such furthe~ ossurances fo perfett fet simple :~'~e to soid lond, in ftie Mortpaqee, as may reasonable be ~equired, and will Roy fhe several sums of mo+~ey aQr~ed in.the said note !o be paid ond all inslallme~ts of principal ond interest Ihereon promptly when due, and ottordiny to the true lrnor ond effet~ of the soid nofe. . SECOND: That the Mo~tga~or will pay oll and singulor the taxes, assessments, levies, and encumbranccs of e~ery nature on the obove described prope~ty, ond u~on this morf9aga ond note, or th~ money setv~ed rhereby, before delinquencv lhereof ~ ond ~eceipts tvidencing payment of said Iaxes, assessments, IAVies and entumbrances shall be deposited with fhe i,Aorfgagat on or before March lsf of eath sutceeding yeor duriny the term of this mortgage; and if some be.not promptty poid when due, the Mo~lgagee moy (withoul obligation to do so) pay the same, or become purthasrr ,of ony lowfvl _ ev~dence Ihereof, or certifitala the?efor, without woiving or oPfttiing ony rigi~f he~eunder ond in this mortgoge, or the soid note which Ihis mo~lgnge secures; and such poymenti or expenditur~~ sc? mode sholl beor inte~ast from the dntR thereof at the ~ate of 18.04x , ' ptr annum. ~ ~ j . THIhD: That the Morlgagor will keep oll reol and personol property now or herenfter rncumbered by ttie lien of this ~ morlgage insurcd as moy be required from time to time by the Mortgagee against lass by fire, windstorm ond other hoz~rds, cosualfies end contingerxies for suth periods and for not less thon s• :h omounls os may be required by fhe Mortgogee arid to poy promplly when duc all premiums for such insurante. The amounts of such insurance required by ihe Mortgagte are expressive of • only the minimum omounls ior whith said insurence shall be writlen and it shall be incumbent upon 1he Morfgagor to mainlain suth ~ additionfll insurance as may be necessary to meet and comply fvlly with oll co•insuronce requircmrnts contained ir said polities to fhe end that said Morlgagor is nof a to•insuror ~hereunder. (nsurante shall be writte~ by o compony or componies approved by the . INortgagee ond oll policies and ~enewots thereof shall be held by fhe Mortgagee. All detoiled designo'ions by the Mortgagor which are actepted by the Mortgagee and oll agreem~nfs_ 5etween Morfgagor and Mortgagee reloling to insurorxe, now existing ~ or hereafter• made, shall be in writing and shall be a part of this mortgage agreement as fvlly as lhough sat forth verbatim herein . ~ ond shall govern both parties hereto and Meir sutcessors and assigns. No lien upon any ~f said pol:.ie~ of insurante or upon anr ~ refund or ~efurn premium which may ~ie payable o~ the cancellation or termination thereof, shbll be given 40 other than tfie Mort- ~ goyee, extepl br proper endorsement offixed to such policy and approved by Mortgngee. fach policy of insurance shai) l~ave - affixed fhereto a Standard Mortgager Clavse acceptable to thr Mortgos~ee, making otl loss ur losses under such poii:y payable to the Mort~jagee as its inferesf may appear. In the event any sum or sums of money become poynbie 4hereuniler the Mortgeqee shall have tfie option ta receive and apply the same on account of the indebtedness hereby secured, or to permit the Mortyagor to receive and use it, ar any part thereof, without thereby waiving or impairing any equity, lien or riaht under and br virfue of this ~ mort a e: In event of loss or h sical dcmo a to the morf a ed ro ert the Mort a or shall ~ve immediate notice thereof b 9 9 P Y 9 9 9 P P ~ 9 fl 9 Y~ ~ ma~l to ihe Mort~agee and fhe Mortgag~e moy moke proof of loss if the same is not :~iade prompNy by the Mortgagor. In event of fortcbsure of this mortgage or other transfer of title to the morigaged property in extinguishment oi thc indebtedness setured ~ hereby, all right, tiHt artd inte~a3t of the Mortgagor in and fo any insurarxe policies ther~ in farce shall pess to the purchoser or € grantee. Upon any d~foult thereof, the Mortgogee may (but wethout obligation on its part w to do) place insu~ance on such buildinys and pcr the premium ana char9e such sums sn paid to the Mortgogor and such sums of money s~~ paid shall beer interest ~ from the dafe of payment at the rate of. 18 . a4~ per annum. ' FOi1RTH: That all sums of moner poid or caused to be paid by the Mort~aqee.under the terms of tfiis mc;rtgoge and herein ; specifxally ~ravided for, and irxtuding any expenses inturred by tht Mortgag~e in collzction of the s~rti secured by this mortgage, ' _ i shnll be covered by the lien of this murtgage, the some as the sums of money represenled by the note which this mnrtgage setures. _ i FIfTH: Ta perrnit, commit or sufFer no waste, impuirment or deterioration of said property, or ony port thereof, and upon i the failure af the Mortgagvr to keep the buildings on said property in good tondition of repoir, the Moriaagee may demand the immed~ate repair of said buildings, or cn iRCreose in the amount of seturity, or the immediate repayment of the~ ~f heraby secured, and the failure of the Mortgagor to comply with snid demond of tfie Mortgagee for a period of eni~~ys shall . cortsfitute a breath of this rrwrfgage, end, at the option of th= Mortgbyae, immediately matu~e the enlire unpoid prirxipal and interesf hereby setured, and the Mortgagee moy, without notice, institule proceedings to faretlose ?his mortgege, and ~pply for ~ the appoint~ent of o reteiver, as hsreinofter provided. , ~ SIXTH: That the Mo~tgogor hereby promises, covenants ond agrees to pay the se.TS of money and interest os rsientioned ~ in soid promissorY note, fogether with cny and ell otfie~ sums justly due and owing tha Mortgagee bY the ferms iherein, and securtd ~ E - to bc paid as stated therein promptlr when d~e. If defuult shal: be made in.the nayment of the said sums of money or ony pa~t ~ ~ thereof os provided in fhe said note o~r etfi~is~~j yo~,e, ar if fhe intertst that moy ~ecome due thereon or any part there~f shall be in default and unpaid for a spoce of t~c:~l~days, or should tfie Mortyagor breath or foil to campty with any other covenonl ~ or a~reement on the part of the Mortga~or to be complied with (iR thase cases in which the option of the Morrgagee of vcceler tion is rwt•otherwise expresslq p~ovided herein) and suc~ bre~th Er nan-campliorx~ t~~tinue in exister,~e for e space of f~~~~~ a - i doys, then and from thencef~rth,~at thc cption of the Mortgogee ond wirhovt notice !o the A+lortgoger, tfie whole of said~p•inci~pol ~ .sum expressed in said note, togetfier with all c+thrr sums therein as well as herein prorided for, shall becomr irnmediotely due and - ! poyable, without rsotice to fhe said Mo~tgaflor. ~ ' - ~ t ' ~ SEYENTH: Thot in case it should become necessary to place this mortgage and the ~ote secured hereby or either of them, ~ in fhe hands of an aHorney for collection, the said Mortgago- covenants and agrees wifh ffie Mortaagee t4 pay all toits, cnarges and expenses of sush colledion, irxluciiny reasonable attorney's fees wherher collec?ed by foreclosure or otherwise. ~ EIGHTH: Thal, in the event any suit is brovght upc~n this mortga~e, whether fo forecPose it, to rtfo~m it, or otherwise, and/or to enforce poYment of ony claim hereunder, the Morigagae may apply to any court. having jurisdiction thereoF, for ~he oppointment of a reteiver of soi~ mortgaged property, os wtil os th' intome, profifs, issues and revenues thereof; ond the said - - 2 - _ B0~( ~K7~ PbGE ~`t~