HomeMy WebLinkAbout2783 repair of said property, or an increase in the amount of
security, or the immediate repayment of the debt hereby
secured, and the failure of the Mortqagor to comply with said
demand of the Mortqagee for a period of fifteen (15) days,
shall constitute a breach of this Mortgage, and at the option
of the Mortgagee, immediately mature the entire amoiint of
principal and interest hereby secured, and the Mortgagee,
immediately and without notice, may institute proceedings to
foreclose this mortgage and apply for the appointment of a
Receiver, as hereinafter provided.
5. To perform, comply with and abide by each and every
the stipulations, agreements, conditions, and covenants in said
promissory note and this mortgage set forth.
6. To deliver to the Mortgagee, on or before February 1
of each year, tax receipts evidencing the payment of all
lawfully imposed taaes upon the mortgaged property for the
preceding calendar year; to deliver to the Mortgagee receipts
evidencing the payment of all liens for public improvements
within ninety (90) days after the same shall become due and
payable, and to pay or discharge within ninety (90) days after
due date, any and all governmental levies that may be made on
the mortgaged property, on this Mortgage or note or in any
other way resulting from the mortgage indebtedness secured by ,
this mortgage. I
7. To pay all and singular the costs, charges, eapenses
and lawyer's fees including appellate proceedings, incurred or
paid at any time by the Mortgagee, because of the failure of
the Mortgagor to perform, comply with and abide by each and
every the stipulations, agreements, conditions and covenants of
said promissory note and this mortgage or either regardless of
whether or not legal proceedings are initiated, and every such
payment shall bear interest from date at the.highest rate
permitted by law.
8. That if any action, or proceeding, shall be commenced
by any person other than the holder of this mortgage (eacept an
action to foreclose this mortgage, or to collect the debt
secured thereby) to which action, or proceeding, the holder of
this mortgage is made a party, or in which it shall become
, necessary to defend, or uphold, the lien of this mortgage, all
sums paid by the holder of this mortgage for the eapense of any
! litigation to prosecute, or defend, the rights and liens
' created by this mortgage (including reasonable counsel fees),
shall be paid by the Mortgagor, together with interest thereon,
at the highest rate permitted by law, and any such sum, and the
~ interest thereon, shall be a claim upon said premises, and
f shall be deemed to be secured by this mortgage. The sums paid
~ by or incurred by the holder hereof in accordance with the
terms of this paragraph, shall be paid by the Mortgagor unto
! the holder hereof within thirty (30) days, and the failure or
~ omission of the Mortgagor so to do shall entitle the Mortgagee
; to add such sums to the principal indebtedness of this mortgage
~ and the note it secures, and/or at its option declare this
~ mortgage and the note it secures to be in default, thereupon
~ maturing all of the unpaid indebtedness including the sums
~ advanced hereunder.
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~ 9. That no eatension of the time or modification of the
terms of payment hereinabove, and no release of any part or
parts of the mortgaged premises, ever_ though made without the
consent of the Mortgagor shall release, relieve, or discharge
the Mortgagor from the payment of any of the sums hereby
secured, but in such event the Mortgagor shall nevertheless be
liable to pay such sums according to the terms of such
extension or modifications unless specifically released and
~ discharged in writing by the Mortgagee; and furthermore, that
~ acceptance of part payment of any installment of principal or
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