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Home My WebLink About0919 tender tu the liort~;u~~~~• i~? a~•ca~~lu~nc~• wiil~ tltc proviai~nf ot ttir tiot~ secured Lerrb~•, (uil pa~•iiu~nl ui' the enti~~ inciebtedne~$ r~preriented ther~b~~, the::~ta~tgagee, a4 tcustec~, r~liall, in eon?puti~~~; lhr nmuunt ot sueh indebtedti~as, ~~re~lit to tl~~ ~crount of the ~tor~~;e~?or nn~~ cr~~clit balance rn111A1~111?fi Ul1lIPC tl~r prcl~~i3io~tis of (a} of ssid puragraph 2. 1{ th~ re shsll l,e a d~tault un~ler an~• ot tlie prov:sions ot this niurtKa~e resultin~? in a publie sale oI tt?c+ preis?ises covemd l~ereb~•, or if Il~e ~tortgsKc~e acc{wre4 the properly atherwtse aftcr delsult, . ; the I1lortgagee, ss t~ustee, siisll appl~~, nt lhe tintR ot the coi~uuencemei~t of such proceedin~,re or at tlie tiinr, , the property i.9 othenvise t~c~yuire~l, the amount then reu~sinin~; to ~•rndit of 114orl~;agur unctrr (a) of E~ara~;raph 2 ~ precedin~ as a c~r~~dit on the interest sccrued and unpaid antl U:E~ bslsnce to th~ ~n•incipal then re~nainin~; ~u~paul on said ~i~te. ~ 4. He wiU puy slt tRxea, s~asmente, Rater ratea, snd other govemmental or municipal chargea, ~&nee~ or ~ impoaitioae, !or Which proviaion has not beea made h~reinbelore, and in default thereoi the Moxtgagee mey pay the eama; s.nd thut he will promptly deGver the o~cial receipta there[or to the Mortgagee. . b. He wiU permit~ commit, or suffer ao waate, impairment, ar det,erioration of eaid property or any part thereof~. except reasonable wear and tear; and in the event of t~e failure ot the l~iortge.gor to keep the buildinga on esld premisea and tha+e to be erected on said premieea, or improvementa tt~ereon~ in good repaar, the Mortgagee msy nnalce auch repaire as in its discretion it may de~em necea~ary for the proper preec,rvation thereof, und the f+.ill amount ~ of each and every euch paymeut shal! be due and payable thirty (30) daye after demar,d, ~nd ehsU be eecured by the lien of t6ie mortgage. ~ 6. He will pay aU and ~ingular tbe coata, cbargea, and expeneea, includ'sng resaonable la~vyer'e feea, end coeta oI abetracta ot title; incurred ~r paid at any time by the Mortgagee becau$e of the failute on the gart ot the Martgagor promptly and fully to perforru the agreements and covenanta of aaid promfee~ory r,ote and thia mortgage, and said , coeta, churgea, and exgensea shal! t~e immediatEly due and payable as~d . ahall be eecwed by the lien of this mortgage. ~ 7. ~ia will continuouslp maintain hazard insurance, of such type or types and amounts as Mortgageo may from time to time require, on the improvements now or heresiter on said premises and e~cept when payment for sll such premiums has theretofore been made under (a) of paragraph 2 hereof, ~he will pay prou~ptly when due any premroms therefor. All insurance shall be carried in companies approved bp Afortgagee aad the poli- cies and renewals thereof shall be held b~ Mortgegee and have attached thereto loss payable clauses in favor of and in form acceptable to the ~'Iortgagee. In event of loss he x~ill give immedisto notice by mail to Mortgagee, and tiiortgagee may make proof of loss i! not made promptl~ by Mortgagor, and each insurance c;ompany concerned is hereby authorized and d'uected to make payment tor such loss d'uectly ta Mortgages instead of 0 t,o ~iortgagor and 1lortgagee ointly~~nd tha insurance proceeds, or any part thereof, may b~e applied by Mor~ gagee at its option eithe~ t4 t~e reduction of the indebtedness hereby secured or to the restoration or repair of ~ the propertq damaped. In event oi foreclosure oi this mortgage or other transfer of title to tho mortga~ed : ~ property in extinguishment of the indebtedness secured hereby, a~l right, title, and intereet of tbe Mortgagor , in and to any insurance policies then in force shall pasa to the purcheser or grantee. . S. It thc~ pri~~uisi~s, or u~i~- pur! tLt~r~~of, b~ ~~on~lctun~~~l u~ulrr t!?~ poH~~r of en~in~nt don~a~n, or ncquirc~l (or u public use. tl?~~ ilflma~~~s a~rardc~i. th~• prorc~~~~ls !or t1~e lukink of, or ih~~ ~onsiclc~rutiun for suc•li nc~yuisition, lo tl?e ert~~it af tLe full u~~iount of the ren?~ini~?k tt~~pai~i i~~d~bt~rinc~ss sc~curec) i?~• this ~~~oriKa~;~~, iire Lereb~' ussi~nc~~i to tl~i~ `1ort~aK~~, un~l liis lu~iis or u~si~;~is, un~l sl~ul! k~c~ pui~l fc~rtl?~~•ith to sai~l ~torl~n~;r~ or liis ~ssiKne~ lo b~ api>lie~) ar? ac~~•ount c,f the~ last iunturink i~istnlliu~~nts of su~~h in~i~bteclness; +~ro~~i~tecl, 1?0~~•~~•er, the ~1ortKuKe~ or his :issi~nt~e, ~uu~• at liis tlis~•re~tio~~ pa~• ~iirri•t to thc~ ~1ort~;n~;or, his h~i:~ or as.i~ns~an~• pnrt or ull of sucl? u~st~:~l; {~ru~•iclc~cl, thut i( th~ lou~i is ~u:iruntc~~vl or insurc~~l, tLc co~~s~nt of tli~ guarantur or insurcr . i, obtninc~~l in n~l~•anc~ of ::ni~l pu~•iurnt. - '.1- The :~+iortgagee may, at any time pending a suit upon this mortgage, apply t,o the court having jurisdiction thereof for the nppointment of a receiver, and such court shall forthwith appoint a receiver of Lhe premises covered hereby all arid s~ngular, including all and singular t'~e income, profits, issues, and revenues from whatever source . derived, each and every of R•I~ich, it being expressly understood, is hereby mortgaged as if apecifically set forth and - described in the granting and habendum clauses hereof. Such appointment ahall be macie by auch conrt a~ an admiited equity and a matter of absolute right to said 11Tc~rtgagee, and witt-~out-reference to the adequacy or insdequacy oI the value of the property mortgaged or to the solvency or insolvency of said illortgagor or t!~~ defendants. Such rents, profits, incame, issues, and tevenues shall be xpplied by sueh receiver according to the lien of this mortgage and the practice of such court. In the event of any defautt on the patt of the Mortgagor hereunder, the biortgagor egrees t~ pay to the ;liortgagee on demand as a rea.5onahie monthly rental tor the premises an amount at least equivalent to one-twelfth (~2) of the aggregate of the bwelve monthly installments gayable in the then current year plus the aetuat amount of the annual taxes, asse~snaenta, water rat,es, and insurance premiums for auch year - not covered by the aforesa'sd monthly gayments. ~ ; 10. In L6e event of any btea~h of this mo; tge.ge or default on the part of the Mortgagor; or in the event #hat any of said a~uns of money herein referred to be not promptly and fully paid acco:ding to the tenor hereof, or in the event that each ai~d every the atipulations, agreements, conditions, and covenants of said note and this m~rtgage~ sre not duly, promptly, and fully performed; t-hen in either or any such Pvent, the said aggregate $um mentioned _ in said note then remaining Lnpaid, with interest accrued lo that time, and sll moneys secumci hQreby, shall becoiue due and payable fortt~wit,h, or thereafter, at the optian af said 3Liortgagee, as fully and completely ~s if al! of the said sums of money were ori~naUy atipulat4:d ta be paid on such day, anythiug in said note or in this mortgage to the contrary notwithsta~nding; an~ tbereupon or thercafter, at the opf.ion of said Morigagee, without noiice ~r ~ demand, suit at law or in Equity, may be prosecuted as if all moneys secur~d hereby had matured prior to its institu- tion. The ~tortgagee may forecluse this mort~age, as to the amount so declared due sBd payable, and the said - premises shall be sold to sstisfy and pay the same together with custs, expenses, and allowances. In case of partial foreclosure of this mortgage, the moitgaged premises shal! be sold subject to the continuing lien ot ti~is mortgage _ for the amount of the debt not t.hen due and unp2id. IB such case. the provisioas of this paragraph may again be ~ availed o! thareafter from time to time by the t~fortgagee. - j - 1 I. No wsivsr of ~ny covenant berein or of the obligstion secured hereby shall at $ny time thereafter be held ' to be e waiver of the temns hereof or of the note secured hereby. 12. The lien ot thia inscnu~ent aha[i remain in full force and effect during any p~stponemPn~ or extension of - - the time of payment of the indebtedne~ or any part thereo( secured hereby. ' _ ~ 1:3. If the Mort or default in an of the covenants or a 1 _ g~ y greements contaiued herein, or in said note, then the ~ Mortgagee inay perform the eame, and all expenditures (inclucting reasonable atlarney's fees} made by the A'lortgaQee . = in so doinK shell ~raw interest at the rate pro~•idcd for in the principnl indebtedne.ss, and shall ~ee rcpay able ° thirty (30) days after demand, and, together with interest and costs acerued thereon, shsll be securea by ~ ` ~t6i~ ff~ortgage. . . _ I~' 14. Upon the request ot the ZlcrtgaRee the ~1~rtgagor shall execute and deliver a supplemental note or _ ~ eotGC for the sum or sums advanced Dy the ~tortgagee for the alteration, moclernization, improvement, n~ain- tenance; c~r repair of ~id premises, for tases or as.~essments against the same and ior a~n~' other purpose author•~ : _ ized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as it the advance F _ evidenced thereby were included in the note first described above. Said snpplemental note or notes shall bear ~ interest at the rate pro~°ided for ii~ the principal indebtedness ancl shall be pa}~able in ap proximately equsl : monthly payments for such period es mn.y be a~reed upon by the creditor and debtor. Failing to agree on the j ± maLurity, the w•hote ot tbe sum or sums so ad~•anced shnll bc d~ie ancl pa~•able thirt~• (30) days efter demend ~ # by the creditor. In no event shall the maturil,y er:tend be}ond the ultimate r.iaturity~ of the note tirst, € ~ described above. ; ~ ' ~ BOJK ~(7c7 P~GE ~ i ~ _