Laserfiche WebLink
<br />I <br /> <br />83~) n 0:> ~,!;R <br />6, If he fails to pay any sum or keep any covenant provided for in this mortgage';t~i at <br />itsoJltion, may payor perform the same, and all expendituressQ made shall be added to the prineiplllsum <br />owing on the above llQte, shall be secured hereby, and shall bear interest until paid at the rate provided <br />forin the principal indebtedness. <br />7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes' <br />for the sum or sums advanced by ~lortgagee for the alteration, modernization, or iluprovementmadeat <br />the Mortgag<>t's re<luest; or for maintenance of said premises, or for taxes or assessments against the <br />same, and for any other purpose elsewhere authorized her(>under. Said note or notes shall be secured <br />hereby or. a parity with and as fully as if the advance evidenced thereby were included in the note first <br />desei'ibed above. Said supplemental note or notes shall bear interest at the rate provided for jntheprjn~ <br />cipal indebtedness and shall b,' payable in approximately equal monthly payments for such period as may <br />be agreed upon by the Mortgagee and Mortgagor. Failing to agree on the maturity, the whole of the sum <br />or sums so advanced shall be due and payable thirty (30) days after dC'mand by the Mortgagee. In no <br />event shall the maturity extend beyond the ultimate maturity of tlw note first described above. <br /> <br />8, He hereby assigns. transfers and sets ovC'r to the JlIo:.tg:::gce. to be applied toward the payment of <br />the not€' and all sums g';Clll'l,d hereby in case of a default in the performance of any of the terms and condi- <br />tions of this mortgage "" the said note, all the rents, l'ewnues and im,ome to be derived from the mort- <br />l."aged premises during ~uch time as the mortgage indc.btednes8 shall remain unpaid; and the Mortgagee <br />shall h,;ve power tXi appoint any agent or agent~ it may desiTe for the purpose of renting the same and col- <br />lec:ting-the rents. r('Vi:I1U(>S and llwomc. ;"tnd it mas pay (HIt of ~aid incon10s all necessary commissions and <br />,'xpenses im:urn,l in !'('nting: and managing the same and pf collecting nmtals therefrom; the balance <br />remaining, if any, to lw nppli.;d toward the discharge of 8aid mortgage indt'btedness. <br /> <br />9, He will ,'ontim,ously maintain hazard insurance, of such type or types and amounts as Mortgagee <br />frl:tr from time to time H-."t:uire. on the improven1ents l}OW or here-after on said pn.>cmiscs and except when <br />payrn{,mt for all such pri.'nllUnls hrk~ thcretofon' bet>n rnade under (a) of paragraph 2 hcreof~ will pay <br />prmnJ}tly -v...-h(>n due an~' pn:nlitulls th~l'elor. Upon default thereof. .!\Iortgagef' may pay the same. All <br />lns:uraiH..~L. 'shall th~ ciuTj,.d in comp.unies c..pprovcd by the :\lortgagt\e and tnp !Jolk.i{'s iHld renewals thereof <br />~haH ht~ held by thp )11,rtg'a~p~-and have attached thereto los~ pn:,"abh-' claust-'s in favor of and in form <br />atTf.'ptabl(~ to thf~ :'\lurq..:-ilg'et'. Tn ('\'\:'nt of loss ~tortga.gor will frh:p irnmt'diatc notice by rnail to the Mot,t- <br />gag(~~:. \'rho Hla:r mah(' prl.iof of logs if HOt- Inude prl)mptl~. b~' .Mol'tg:a~Of" and eHt'h insurance t'OJl1pH.ny ('on~ <br />cerm.:-11Is ht'l"efJY auth(tnled ~tnd dirf,<,ted to rnake DHYnJ("nt for such li\~s dir(,l'ti~' to the '\[lwts.;HJ.!'ee ingtead <br />of io the :\lort,xaxo-r and tht~ ?\1ort1l;Jjtee joindy, and the insuranCt' pn'l't't"(b, nr any pal't th~reof. <br />llmy bf.' app-h,t'd b;.' th~' l\-1urtg-a}!..l;iP at its option ~'lther to th;:~ n'duction cd" tbp mdd.-;tednl'ss herehy ~tii.'urt'd <br />,-iI' tu tilt.:>. {"t'storatll)n PI" !"i'pair ,d !he property dama~ed, In \'n~nt of r{q-f'elq~urt' of this lnnrt~a~t\ ur otlwr <br />t.r;-ln.sfN' i}f lith-:- to tht,- P\,;!.tg';l;r(.tl pr{}f_)j:~rt.Y in l-:xlinjtuishnwnl uf tht,~ llHkbtt'dnl.':S-I' .~,l-itun'd !it'l'pby, nil <br />rig:ht. tith: and intf"n:>sl of tb:' :\lort$;'ago-r in and tn any insurance lH,}li'i.':- ttIt'!! \II fnr,.'p ~haH pass to the <br />llllnJuu).i~r or g'l"nntt~t'. <br /> <br />10. .\:-:. ll.dd.itH..nat ~iI;d, qllatt.ral 'st,,('unt.\: f(~r I h!' pay m_t'u!. ,.1.' the nutt' dt'_-,,;;,.-r;!wd. :lll.d aU :::;ums 10- tW{'OIllf< <br />due unde-r this lutwh(ag't', thr' .:\Jortg;t${ol" hej4('hy as~!gns tlJ the ~iHrt~ag!'~' ;tlj h'a:-p hnnuse;-;! profits, H'\'t!", <br />nW::>St foyaitit'-"", right~, ;1!HI nOw!' t~:ndit.s sccruing' to th~, :.lortgaR--or lind('f :>ny and all oil and gas leases <br />now. or duting ttll_C hft.- nf ~h!s rnortgage. t'X('cut('d i~H said pn.mist's, ,;,,-dh thi' rig-ht tl) n~('('i\'(; and receipt <br />for the- Mme i-\ud applY them to ;\.aHl1ndd)t-t.'-1,iHt~s''' ,a..-s \\"l:.'H hei{H\' as aftt'l' dl'fault in tlH' cnnditions of this <br />n\()t'tga.gt..~, and thz' )l~wtgHg!i.,-<t~ :uay delnand. :'ilH~ for and n-evh"f any ;-\uch pa}Hh..tlt.S w,wn due ,and pay- <br />ab!-i:-\ hut shall not be rt~qutr,-.d .so to .k}, This as_"l,ignnH.'H! ),-'; t._\ td"Hl1nat.-: and !)('UH11t..' llull and \'oid upon <br />!.t'>t(~a:;c- ;)f this filnrtgagt', <br /> <br />11. He- shal! Ht)t (;~HH-rnjt \i1' l~.~rntit- \':H~h~: .:~nd ~haH rnalHlalIl tb: pl"'-)rx~rt~. ill a:-, gOHd t'owlitio:n us- at <br />prrSCHt. l).'asuuabh:' 'veal' and tt'ar \-Xft'ptetL l1p4,JU an,\-' failure to so mainta_ll1, Jlnrtgagee, at its optloll. <br />ma.y eause rf-l~'~otiahk' Ilwinh'll.'_HH..-(l work to be perionl'wd at the cost of :\-[ortKagor. .-\ny amount.s paid <br />lht':t',~io.r by Murtgagt'!t~ shaH LNH' intet't!sl at the ratt' pr(!\,tlle..1 for in t!H" PI'l!lt"lpal inddJiedn(~ss~ shaU <br />tlwreupoll h"....onl<' a part of the imlebtedn,>ss ",,,,un,,j by this instrument, ratahly "lid on a panty II ith all <br />other indebtednt'S-S ,,'cm,'J f"",,'by. and shall be payable thirty ISO) days aftN' d,'llIllllt!. <br /> <br />12. If the lJrplHise5, or ~H1Y part thel'f'oC b{l C(lndenllled under the po\\'~:r uf t'lllJnent dOlnain. lH' <br />acquired for n pub lie Uqt', the danlage-s awar~let.i, the In'OCt~t..Js for the t~-lking pC or the con.sider.at-ioH for <br />$ut,~.h acquisitioHt to the t'xt-..:'nt of the fuil amount of the relnailling unpuid jndel.lt('-dness S('_~('un'd by thh;; <br />mortgage, or lwreby assilpwd to the Mortgage", and shail be paid forthwith to ,;aid Mortgag(,,'. to be <br />applied on ae('ount id tile last nlaturing inslaHm~nts of such indebtt:dne&"t, <br /> <br />lll. If tht' 2ilortgag(}I' fai.ls to make llny paynwnts when dut', or to conform to and comply wWI any <br />oJ the conditions or agreerncnts contained in this nl01'tgagl~t or Uw iHJh\s v.hit'h it secur(~s. tfH'n tht~ <br />entire prindpal BUIll aud a~i.~rut,.-<d interest shall at onc~ beconw due and pnyalJlt\ at the f'iectifHl of the <br />Mllrtti'i~; and this mol'tgage may thereupon he [oredosed immediately ["1' the whole of the indebted- <br />n+.'$$ hereby ",,\Oun'd, induding the cost of {'xtending the abstract of title from the .late of this mort- <br />gap to the, time of cOlnnl<!lIciog such suit, a reasonable aU,)nJej"s fee. and <Ill> sums paid by the V..terans <br />Admini'8trll1ioll 01\ a~Coullt of the guaranty or insurance of the indebte.lneBS "l'cured hel"<.by, all of whkh <br />sbail 00 it\CI\lf.ied in the d<!eroo of fon;closul't>. <br /> <br />1'4, Ittht' iOOeDted.n<<l;S.$eCured hereb}' 00 gUll.rant~'d or insun.'<lumler Title :~8. Unik..j States O"ii.>, <br />;;~'rjtltt lNl4~latl~ imwdtheteun4<lr and in effect Oil th" dale hen.'Of shallg\>vern thll righta, duU"s <br />~tlabUit* of ttte varties OOl'<!to, and IIny provisions of this or other instruments t'x{'CutNI in t~ml\t,..,tjoll <br />wltlt_141~__ wbien are. !llC{>naiatllnt with Mid Title or Regulati<>ns an> hereby amend,.d tn <br /><"~~~"'t~ <br /> <br />'"'" tu~tll ooNin oonbilnt'<:! shall bind, and the beneiltJi l\od advantages "hall illln... to, 111,. <br /> <br />r <br />