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Home My WebLink About1880 n~~t:~r tr.~n~ tiie \1urt~a~rr,t:iiin. th~ ,u~iuunt ut lhr ~1r~i~ien~~. ~~hirh n~~ti~c ma~ br K~~rn h~ m<til. 1~ at :tn~ time thr ~it~r- t~at~~r ,h.?II trn~irr tu thc \luri~a~r~ in a~~~~ru:in~e ~~ith ihr ~r~~~ i,i~~n, ul thr n~~t~ .«urr.1 heteh~, tull ~.i~mrnt uf th<<~itire in.lrh~r~ln~„ r~~rr,rn~e:1 th~reh~, th~• \lunz.i~~e. tru.~rc. .h.?II. ~n ~~,ni~,utin~ the am~~unt u1 ,urh in~lrh~r~ine,., ~redit t~~ thr a~~uunt ui the \Itirt~ci~ur :~n~ :r«lit t~:slan~e ren~aininc un:lrr ihr ~~ru~ i.i~~n. uf ~:t) ul ,ai.t ~,.ir:i~r.~~h II ~hri~• ,hali hr a~l~~t:iult unil~r an~ uf thr {~iu~i.iun, u( thi. mur~~a~e r~~ulunL in a ruhli~ .al~ u~ thr ~~rrmi.~ti ~o~~rrd her~h~, ur il th~ \1~~nL:i~c~ aryuir~~ thc 4~ru}~rri~ ~~th~n~i.r:iltrr ~l~lault, thr \lurtR:tg~r, a, ~ru,t~e..Itall ar~l~, at th~ ~imc• uf thr ~um- n~rn~cmrnt ul ,urh ~ru~cr.iin~, ~,r at ~h~ time thr ~ru~,~ri~ i. uth~n~i.~ a~yuirrel. ~he 111i1U1111t llltll fClll:1111111K l0 ~ftilll [tlt \lun~;~gur uniler ~al ut {,aru~ra{~h ~~ri~e~in~ a, a ~re~lit un thr inter~.I ai~rur~l cintl un~i:ticl anel thc hal.ui~e t~~ the rrinri~al th~n r~niaining un{,,ti~ un ,ai~l nute. a. \t~~rtgat~x ~~ill ~a~ all t.ur,, .~,u,.mri~t,, ~~atrr rate,, an~l .~ther go~ernmentat ur ntuniii~al rhartie,, finr., ur int- 4~u,iiiun~, fur ~~hi~h ~ra~i,iun ha. n~~t hern maJ~ hereinhefure. an~1 in e1e1.~u11 ihrrcul the \lurtkagee ma~ ~a~ ihe ~.inie: an~l ~~ill ~r~~n:{~tl~ eirfi~rr th~ ut'fi~ial re~~i~~t~ therrfor lhe \lurlga~«. ~lurtgak~ur ~~ill ~rrmit. ~ummit. ~~r ,uffe; n~~ ~~:ntr. im{~airment. ur ~lc•t~riuratiun ~~f,aid {~r~~pert~ ur an~ ~art th~reuf, e~~~~t r~a;c~n;;hl~ ~~~ar an~l t~ar, an~i in thr e<<nt uf the t:?ilure uf the \lurtgagar to I.ee~ thr b;iilclingti un .aid prri~ii~eti :?n~l thu.r tu be ere~ted on ~aiel ~remi.r,, ur im~xu~~fnent~ lh~reun, in gou~i r~~air. th~ \turtgage~ ma~~ mak: ti:~rh repairti a, in in ~1i~~rcliun it ma~ drem nr~~"an f~~r the ~ru{~er pre,er~ation therrut, and the full amount uf earh and e~rn ~urh E~a~n~~nt ,h~ll b~ ~iue an~! p:?~ahl~ thirt~ ~i0? J,~~, after ciemand, and ,hall be ,e~ured b~~ the lien ot thi~ murtgage. t~. ~turtea~or ~~ill ra~ all and ,ingular the ~~~~tti, ~har?~e,, and espeme~ inrluding reationable la~~~~er'~ feeti, an~ ro~tti ui ah.tra~t. uf titl~, in~urrc~i, ur ~aiei at an~ timc b~ the \tortgagee bccaux ot~ the failure on the ~art of the \tortgakor ~,rum~tl~ ai~J full} to nerform thr agreemrnh an~f ~o~enants c~f tiaid nromi»un• note and [hiti mortg~~ge, and tiaid ra,t,, :har~e~, .?n~1 ~~pen.e~ ,hall be immecliatrl~ ~1ue and ra~•able and ~hall be ~ecured b~~ the lien ol~ thiti mortgage. 7. ~lortgagor Hill continousl~• maintain hazard insurance, of surh t~~pe or t~~pes and amounts as 1lortgaeee may from time to ~ime require, on the impro~emer;s now or hereafter on said premises, and except w•hen payment for all such premiums ha~ theretofore been made under (a) of paragraph 2 hereof, he; she w~ill pay promptlp w~hen due any premiums thereior. All in- tiurance shall be carried in rompanies appro~e:i by ti1ortgagee and the policies and renewals thereof shall be held by ~tortgagee and ha~e attached thereto loss pa>~able rlauses in fa~~or of and in form acceptable to the A1ortgagee. In event of loss he/she w•ill gi~e immediate notice by mail to !~tortgagee, and Mortgagee ma~• make proof of loss if not made promptly by Mortgagor, and earh in;uranre rnmpany concerned is hereby authorized and directed to make payment 1or such loss directly to Mortgagee instead of to \tortg3gor and ~lortgagee jointl~~, and the insurance proceeds, or anp part thereof, may be applied by Mortgagee at its option either to the redurtion of the indebtedness heret~}~ secured or to the restoration or repair ~f the property damaged. In e~~ent of toreclosure of this mortgage, or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereb~, all right, title, and interest of the ~lortgagor in and ro an. insurance policies then in force shall pass to the purchaser or grantee. 8. If the premises, or an}• part thereot be rondemned under the power of eminent domain, or acquired for a public use, the damages awarded, the proceeds for the taking ot, or the consideration for such acquisition, to the exrent of the fuil amount of thr remaining un~aid indebtedness secured b~~ this mortgage, are hereby assigned to the Mortgager, and his heirs or assigns, and shall be paid forth~~ith to said MortKaQee or his/her assignee to be annlied on arrount of the last maturinR insta!lments of such indebtednct~; pro~ided, how-ecer, Ihr 1lortgagee or his or her assi~nee, ma~ at his or her disrretion par direct to the ~lortgagor, hiti or her heirs or assigns an}• part or all of surh a~~ard; pro~i~led, that if the loan i~ guaranteed ar insured, the ronsent of the guarantor or insurer is obtained in ad~anre of tiaid pa~~ment. 9. The ~tortgagee ma}~, at an}• time pendine a suit upun this mortgage, appl~• to the rourt ha~ing jurisdirtion thereof for the appointment of a recei~er, and such court shall forth~~~ith appoint a recei~~er of the premises covered hereby all and ~ingular, in~luding all and singular the income, ~rofits, is5ues, and re~enues from whate~~er source deri~•ed, earh and e~•er~~ uf ~tihirh, i[ being expre,sl~~ understood, is hereb~• mortgaged as if spe~itically set forth and described in the granting and ' habendum clauses hereof. Such appointment shall be made b}~ sunc ~ourt as an admitted equit}• and a matter of absolute ' right to said 1lortgagee, and without referenre to the adeyuacy or inadequacy of the ~•alue of the property mortgaged or ~ tu the sol~enry~ or insol~ency~ of said ~tortgagor or the defendants. Such rents, profits, income, issues, and re~enues shall ' be ap~lied b~ such re~ei~er according to the lien of this mortgage and the practice ot such rourt. In the e~~ent of any~ defauit ; on the part of the ~tortgagor hereunder, the ~1ortgagor agrees to pa~• to the ;~lortgagee on demand as a reasonable monthl~ rental far the premises an amount at least equivalent to one-tN~elfth ( I/ 12) of the aggregate of the tw~el~~e monthly installments ; {~ayable in the then rurrent year plus the artual amount of the annual tares, assessments, Hater rates, and insuranre premiums ; tor such ~•ear not co~ered by the aforesaid monthly~ pa~•ments. F !0. In the e~ent of an~~ breach of this mortgage or default on the part of the :1lortgagor, or in the event that any of said sums f of mone}• heeein referred to be not promptfy and full~ paid according to the tenor hereof, or in the event that each and everv : the stipulations, agreements, conditions, and co~•enants of said nore and this mortgage, are not duly, promptly, and fulh~ perform- ~ ed; then in either or an}• such e~~ent, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued ~ to that time, and all moneys secured hereb}~, shall become due and payable forthwith, or the;eafter, at the option of said Mor- ~ tgagee, as fully and completely as if all cf the said sums of money were originally stipulated to be paid on such day, an~~thing ~ in said note or in this mortgage to the contrar~~ notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, ~ ~~ithout notice or demand, suit at la~~~ or in equity, may be prosecuted as if all moneys secured hereby had matured prior to its institu[ion. The ~tortgagee may foreclose this rnortgage, as to the amount so declared due and payable, and the said premises shall ; be sold to satisf}• and pa~• the same together Hith costs, expenses, and allowances. (n case of partial foreclosure of this mortgage, ~ [he mortgaged premises shall be sold ,ubject to the continuing lien of this mortgage for the amount of the debt not then due and ~ unpaid. In such case :he pro~ision4 of this paragraph may again be a~ailed of thereafrer from time to time b}• the ltortgagce. ; 1 l. tio ~sai~er of an~~ ro~enant herein or of ihe obligation tierured hrreh~ ~hal! at an} time thrrrat[e~ ne held to be ~ a~~ai~er of the terms hereof or of the note secured hereb~. a - i 12. The lien of thi~ in;trument shall remain in full for~e and effert durine an~ ~~ost~onrm_~nt or erten~ion of the time nf ~a}rnen: o( the indehtednetiti or an~ ~ar~ thercof se,ured hereb~. 13. If the ~tortgagor default ir; an~ o( the co~enantl ar agreement~ rontained herein, or i~i tiaid note, then the ~tc~r- tL~gre may perform the,ame, and all expenditure~ (including rcasonable attc~rne~', fee;) made b~~ the Atortgagee in tio doing `hal~ dra~~ interett at the rate pro~ided for in the prinripal indebtedness, and tihall be re~a~~able thirt~ (30) da}~ti after de- rnane3, and, together ~~ith intere~t and costs accrued thereon, shall be secured b~~ this mortgage. I1. Upon the req,iest a( the Mortgagee the tilortgagor shall execute and delicer a supplemental note or notes for the sum or ~um~ ad~anced by~ the ~1ortgagee for the alteration, modernizatiun, improvement, maintenance, or repair of said premises, for ~ tases or assessments against the same and for any other purpose authorized hereu~der. Said note or notes shall be secured hereby i on a parity with arid as fuily as i( the ad~•ance e~idenced thereoy K•ere included in the note first described abo~•e. Said supplemental : note or notes shall bear interest at the rate pro~ ided fo~ in the principal indebtedness and shall be payable in approxirnately equal ~ monthly~ payments for such period as may be agreed upon by the crediror and debtor. Failing to agree on the macurit~~, the «hole ~ of the wm or sums so ad~anced shall be due and payable thirty (30) days a~ter demand by the creditor. !n no e~ent shall the maturi- t~ e~tend be}•ond the ultimate maturitp of the note lirst describec! abo~•e. `r BOOK V75 FAGE ~OQV ~r . ~