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Home My WebLink About0503 Ar0 tle said Ibrtpagor hareby oovenants and aaees Nltn the sald Ibrtpapee as follows: FIRST: That the Ibrtpepor Is laKfulfy selzed of the abov+e desc~ibed pre~taes In fee sl~ple and hes ~ood rl~t to ssll arx~ canvey the sa~e to ths ILxtpepee; thet the said pre~laes are free and dlscharped of aM f~a a!i ta~aes, tuc tltles or cert if icates. ju~eints. ~ed~enic'S I lens aM enoubrarioes of any neture or klyd rf~atsoev~ ard that the Ibrtpaqx NI I I ful ly ra-rant and defend the s~e to :he Ibrt~pee, a~einst the larrful clal~s and oe¦ards of all prsms ~ho~eoev~e~~ and ~ill ~ake ~uch furtl~ ass~ranoes to perfect fee siipie title to sald land, In the IbrtAapae. as ~ey be reesmably reQulred, ~rd will ~y the sev~eral su~s of ~oney a~preed in the sald note to De pald and all Install~ents of princlpal ard Interest thereon ;;raAptiy Men due. and ecoordir~p to the trua tenor and effeCt of thB sald rote. SfCp~O: fiat the Ilortpepor slll pay ali and sinpular the taaae~. asaess~ents, levfes. aM ena~ranoes of every neture on tha above described P~aPertY. eM tpon this ~ortpepe md mte. or th9 ~oney seared tl~erebY. before dBllnq~enc.y thereof aM reC@ipCS eVIdBf1CIf1Q payMflL Of Sald L3)OB6. assess~e~ts, levles and ena~anoes shall be deposlted wlth the IlortpepBe an or before ii~rcl~ lst of each ~tyoeedlro yea~ driro the ter~ of this ~ortpeQe; and if sa~e be not praptly paid ~t~en due. the r~rtgagee ~ey (Nithout oblipetlan to do eo) pny the sa~e. or beoo¦e (xrd~eser af any lawful wider~os thereof, or oertiflcate tnerefor, Nithout rrolvir~p or affectlr~p ar~y ri~t here~nqer and In this ~ortpape. or the sald note ~hidi this ¦ortpepe secures; and st~ pay~ents or e~erditures so wde sM ti bear Interest fra the date thereof at the hl~est lepnl rate per a~rxs. THIRD: TMt the liortyepor r~lll keep all real and personal praperty noN or hereafter ena~bered by the Ilen of thls ~ortgage ins~red as ~ay be requlred fra ti~e to tl~e by the Ibrtpepee apainst loss by tire. NlMeton aM other hezards, ia~i?altles ~rd oontinQencles for auch perlods ~d for rot less than s~uurh a~ants as ~ay be requlred Dy the YprtqeQes eM to ~Y Pr~rt ~ Y it~en due a I I pre~ i us for such i ns~rance . ihe a~ants of such I rts~ranoe requ I red by the i~brtpepee ars e~xess I rre c ~ on I y the ¦ i n i¦~a a~o~rtts for ~h i ch sa i d i nsrarnoe aha I I be Nr I tten and I t sha I I be I na~bent ~pon the Mortpepor to ~a I r~ t a i n such add i t I ona 1 I nstrar~oe as ~ay be necessary to ~eet aM cap I y fu I I y N i th a I I oo- I nsuronoe requ i re¦ents oonta I ned I n sa i d po I I c I es to the end t~at sa i d I~brtgagor i s not a oo- i r~ror there~nder . I r~sirance shn i I be ~ i tten by a oo~perry or c~ ^a~ies approv~ed by the IbrtgepBe and ali policies and re~~errals tt~eof shell be held by the Ibrt~apee. Ail detalled designa- ms by the lbrtgagor M~ I ch are aa~pted by the Mortpegee and a 1 I a~ree¦ents betr~een Ibrtpepor and Ibrtgapee re lat Irq to ~surarxe, no~ existl~ or hereafter ~ade shall be in ~Itir~p ard sMll be a part of this ~ortpepe a~rree~ent as fully as :'muph set forth verbatl¦ herein and shall govern both parties hereto and thelr a~ocessors and assl~s. No llen ~.pm any said x i i c I es of i ns+ranoe or ~pm arry refuid or retum pre~ I u~h i ch ~ey be payab l e an the cerr~e 1 I at I an or ten I net I an tt~ereof , s.!?a i I be given to other tlw~ the Yortgagee. e~aoept by proper endorse~ent aff i~aed to such pol icy ard apprmred by Ibrtpepee. _ach poiicy of Ir~suranoe shell have affi~aed U~ereto a StaMard Mortgepe Clause acoeptable to the Mortpapee. ~akiro all loss ~ r I os~s tnder sudi po I i cy payab l e to the Mbrtgagee as i ts i r~terest ~ny appear . I n the event any sv or sus of ~a~ey becae ^ayable thereu~der the IbrtgegBe shali have the optim to recelve and apply the sa~B on acoant of the Indebte~~ess hereby secured, or to pen it the Ibrtgagor to receiv+e and use it, or any pert thereof. eithout tt~eby ~elvl~g or i~peirirg any e-.~itY, lien or rl~rt tnder and by virtue of this ~ortgage. In event of loss or physlcai de~epe to the ~ortgaped prapertY the li 4brtgagor shall give I¦~edlate notice thereof by ~all to the I~brtgagee ~d the Mortgagee ~ay ~ake proot of lass If t#~e sa~e 'i i s not ~ade prapt ty by the Mortgagor . i n event of forec I os~re of th i s~tgage or ott~ tronsfer of t I t I e to tb ¦ortgaged ~ ;roperty In extir~gulsh~ent of the Indebtect~ess sea~red hereby. all rl~t. title ~d IMerest of tfie Mortgagor In and to any ~ruurance poiicies then in force shall pass to the purchaser or grorrtee. Upon any default thereof, the Mortgagee ¦ay (but ~ ~ithout obllgetion on Its part so to do) piace ir~rance m such buildings and pay the pre~(u and cherge such sus so paid te the Ibrtgpor arxf such s~s of ~cx~ey so paid shaii bear interest fra the date of pay~ent at the hi~est legal rate per ~ ~~rx~. E i ~ FOU2TN: fiat all su~s of ~oney paid or caussd to be pnid by the Ibrtgagee u~der the tens of this ~ortgage and hereln s s:~c I f i ca I i y prov I ded for . arxf i nc I ud I np any e~enses i naxred by the Mortgagee i n co I I ect i on of the sus seared by th t s f ~crtgage. shall be oovered by the Ilen of this ~ortgage, the sa~B es thB Su~s of eoney ~epresented by the note ?hlch this Y'-tgage seax'es. ~ fIFTH: To penit, oo~it or suffer no traste, i~painent or deterforatim of salC property, or ~rty part thereof. ~d ~pa~ ~he failure of the Mbrtgago~ to keep the buitdings on said Rroperty In good coMition of repalr, the Mortgagee ~ay de~a~d the ~ ^r~ediate repeir of sald buiidings, or an increase in the a~o~nt of seaaity, or the Iwediate repay~ent of the debt hereby ~ secured, and the fafture of the Abrtgagor to caply elth said deaard of the Mortgagee for a period of fifteen (15) deys shall E ^.~stitute a breac~ of t~is ~ortgage, and, at the optim of the MortgaQee. I~adiately ~atire the entlre ~ripaid prlncipal and t ~^',erest hereby secured, ard the Ibrtgagee ~ay, ~Ithart notice,institute proceedings to fOreclose this ~ortgage, and apply ` the appoint~ent of a recelver, as herelnafter provided. ~ F SIXTH: That the Mortgagor hereby pra~ises, ~ts and agreas to pay the su~s of ~a~ey and interest as ~entloned in ` sa~d rai D ssory rwte, togetl~er Nith arry and all other sus Justly due and oMing the Mortgagee by the ter~s tt~ereln, and G s~cured to be paid as stated tt~erein praptly wf~en due. If default sheil be ~ede In the peysent of the sald sus of ~oney or ~ ~~y part thereof as provided In the sald note or this ~ort ; gage. or if the interest that sey becae d~a thereon or any pnrt E ~hereof shall be in detault ard upaid for a spaoe of flfteen (15) days, or shouid the Ibrtgagor bread~ or fail to oapfy ~ith arry other ~ovenant ar agreeeent an the pnrt of the lbrtgagcx to be capEled Nlth (In thoae cases in rhid~ the aption of t ne Ibrtgagee of acce I erat i on f s not otf~ere i se e~ress I Y prov i ded here i n) ard such breacfi of r~-cap 11 ~ce cont Inue f n °~~stence for a space of fifteen (15) days, then ~d fra thenceforth, at the aRtion of the Ibrtpagee ~d eEthout notice to ~brtga~, the rhole of safd principal su e?~ressed fn sald note. together Nith all othef sus thereln as ~ell as herelrt ~~avi~ed for, shall beca~e I¦~ediately due and payabie without notice to the said ~brtgagor. SEVENTH: That fn case It should beco~e necessary to place this ~ortgage and the note seaxed hereby or either of the~, ~ the hands of an attorney for coliectim , the said Ibrtgapor covermnts and agrees Nith the I~tgagee to pay ali oosts, ~~~~ges and e~enses ot sud~ coilection, including reasonable attorr~ey's fees Niether collected by foreclosure or othe~wise. ~ ~ EIGNTH: That. in the event any suit is brou~?t ~pon this ~tqage, Miether to foreclose It, to reforw It, or other~?ise, ' :~ti,'or to enforoe pay~ent of ar~y c i a l~ hereuider , the Aiortgagee ~ay app I y to arry co~xt hav I np j~ I sd Ict I on t.hereof for the -:~intsent of a receiver of sald ~ortgaged property, as Nell as the Incoue profits, Issues arxf revenues thereof, and the 2 EOpI( ~17~ PNGE ~~Tc) ~ ~ ~ _ ~.~=,9~~e~,.~;~:_~=,~~-~