|
-~ ,
<br />d, i=or be[ter security of the indebtedness hereh> secured, upon the. request of ?ht martgagee, its successors
<br />or assigns,... mortgagor .trail ,secure and deliv.r a supptemtntai mortgage or mortgages covering any additions,
<br />irnpravemenrs, or betterments made to the property hereinabovt described. and all property acquired by it after'
<br />the date hereof loll ur farm +ansfaeiory to mortgagee), Futhermore, should mortgagor fail to cure any-defauh
<br />in the payment of .r prior er mfenor encumbrance on the property described by tltis inserument mortgagor here-
<br />by agues m permit mortgagee [o cart such default,: but. mortgagee is_not obligated. to do so; and.such: advances
<br />shall btr ome pan of the iridthrednesssecured;by this instrumtnt,:subject to the same terms andconditions:
<br />e. The rights : reattd'by this conveyance shalt remain in full'farce and effect :during any postponement or
<br />extension of the rme of the payment of the indebtedness evidenced by said promissorg note or notes, .or any
<br />part thereof. secured hereby;
<br />_ f. To cortrinuously maintain ha~ -~ insurance, of such €ype or types: and in such amounts as the martgagee
<br />may- from time to time require on the improvements now or hereafter on said property, and will pay promptly
<br />when due any premiums ihtrtfor. A11 insurance shat! 6e car;.-~. in campanias acceptable [o mortgagee and the
<br />- policies and renewals thtrtof shall he held by mortgagee and have attached ihtreto loss .payable clauses in favor
<br />of and in iotm acceptable Eo the martgagce: In event of loss, mortgagor will give immediate notice in writing
<br />ro mLxteagre, and martgagee may make proof. of toss if not made promptly. by mortgagor, and each insurance
<br />company concerned ;c hereby aethorized and directed to make,paytnenk for such loss drrectly to mortgagee
<br />instead of ro mortgagor sod mortgagor jaindy, and iht insurance. proceeds, or any part thereofi may be applie3
<br />by mortgagee at it; cprien either to the reduttron of `the indtbtednes, hereby secured oe to [he restoration or
<br />egai* of the prapert~ damaged or desiraytd. Ip tverit of foreclosure of this. mortgage, or other: transfer of title
<br />tc, ,aid propern~ in extingurshment of the indebtedness secured hereby, all right:, title, and inteiest-af 'the:
<br />mortgagor in and to ;+ny insurance poGcrits Then in ford shah pass to the `purchaser or ttiortgagce or; a[ -cite
<br />option of the martgagee. may be surrcndertd far a refund.
<br />g. Te keep all !?uildirtgs and 9ther irnpravements an said property in good. repair and condition; -to
<br />l±ermir, comma, or suffer nn wasto, impalement, dettrioratian of :said proporty az any part. thereof; in the event
<br />of failure of the mongacor to kelp the buildings on said premises and. those" erected on 'said premises; or
<br />improvements thereon. ut good roar, the mortgagee may malco such .repairs as itt its discretion it may deem
<br />necessary for the proper pttsetwation thereof; and the fuFl amount of each and every such payment shall be
<br />immcuiarely due and payable; and shall be sa:uredbytht lrin of thismortgage.
<br />h. "fo nor ~ols,ntarii~ ,react ar ptrmn to bt created against iht property sub)ect to this mortgage any lien
<br />- or liens, inferior r,, the 6cn of rhrsinortgagt without.writttn consent of the rnangagec, and father, that: more-
<br />. gagar will ::cep and maintain tits saint fete from the claim of all persons supplying, labor ar'materials for con-
<br />rruct;on ~±f;ut}~ and old huild~ngs ormpravtments now beingtrecrtd ar zu bt ertctedansaidprcmises:
<br />Te not ten[ -,r assign any .part of the rem of said mortgaged property or demolish; or remove. or
<br />~uhstandailp a?ter um building wnil)out,otn-:a%enconmAt at;ht:mortgagea.
<br />j.:~11', awards :,! damages in etutnecuen w~it;4 any con~;mnarion for public use. of or injure `o any- of rho
<br />Ixopertp sublet n? this mrirtg.~c arc i,crtby assigned ands)ratlbcpaid to martgagee; whomay aPPiy~ the same to
<br />paymrnt pf the installments la<t due anger drd note, and mr~regaRes is hereby authorized,tn'the name of the
<br />rnottgagor, to eACCU[e and deliver vaEid aeymttancc5 therevi and to appeal Crom env such award.'
<br />k, 'The mortgagee .hail have ttre right ti: inspect t$e mortgagui premises at any reasoerablt time.
<br />i- To comply wi[h she prowisiorrs of soy !rase it this Mortgago is on a leasehold. If this Mortgage. i5 on a
<br />unit in a wndaminium or a ;?3annetl unit ~icvrlepmezu,$arrowcr stroll perrarm all of $Orrower's vbhgations
<br />under the dalaratiun ar covenants creating or governing the coaitiom[niirm or dunned unit dtvelopment,the
<br />bY-iaw's and regulations of the condominium or planr~d,unit devctopmen[, and constituent documents.
<br />~. L?efault in any of the covenants ar eonditions of [his instrumrnt or a1 the no[r_ or loan a~cemsror secured hereby
<br />.bait termiruatt the mortgagor's rgttt to passdsion, use, and erjeyment of the property, at the c,piionofthc
<br />mott~agce or assip~s (it being agreed ttut the mortgagor shad have such right anti! default). Ligon an},such
<br />default, t?re martgagc~ shall htcomr the owner of all of the roots and profits accruing alter default as stcitrity for
<br />the ruiebttdneas secured hereby, wi[h rho right to cuter ttpan said praper[g fort the pnrpost of collecting such
<br />root; and profits. This instrurrrrr.t shall operate as an assignrent of am rr_ntals on said property a hattYtent.
<br />3_ If the mortgagor defaults, and faits to makeany payments ~A~ttcn due or t.i;eonfurn; to and comp!}° with-any of
<br />the cardi.ions n: agretmenu roataina9 m this mortgage or the notes w t,irh it secttses, then the court principal
<br />sum and au:rucd imert5t v'tail at once bromc due and nayab!c. and .!raw : per. cent {__.~?ru) interest
<br />thereafter until paid at [he e(ectson of the mortgagee. and [tus mortgage may theteuponbo foreclosed immediately
<br />for zhe whtu}e of the indebtedness t:ereby secvrzti_ including the c~xt of extending thabstraet oi' tiifa from the
<br />data of this :nartgagr to the time of commencing such snit
<br />d, n '~ event of a forctl~ure or default xs provided hertin~ <hc :rrartgagce .hail at tjitCebteiltitietl is the pos-
<br />-e .i..n, s ;;red crjvsrefit al the reaf ,,tare afar sad sod the ent, :~surs, savalt-'tt5, anti txn>',ty-thettaF;
<br />rot2a ,ere a r,;mg cf :tr;; .ifhts and durtng tine ptnDcn~y : f tor~:c:-arc yrarredrngs and such pi>:,.c-s,Uns, eta`.
<br />G,al a e7r,,r c~e ad. ed ~n a[roe mor[gigce apart rc;~uest, u u, ti±u[e ay.h deh+.~tn of sack pos,c~s,,,n Haar i
<br />_rta,_ed Ely a,txetga~et >, at;y approprratr Itgai prutx~dings, a_,udutM „ ,,;ri,'er far [lat:pp'crprrty~.
<br />g rr v ;rccn.~rru i st:} c :~€ ,, :,-asst , ,r_« .anc_ ~ah t,< ~~~ ,su;~ p;iragrrptr ,ira;t be atppfteci First icy
<br />~r7 `te , ,r ~sf+c ~-s ci d .~;e, nr ~-s;xr,cr, arx~urrei7 n, ,air t ~ongaucc ~~•r aher+u., ~> .., r.tcvtznx ur
<br />~ a .=,t a .{ z .eco,u}p. ~-i_±,,uv t:7c iniletsterar5~s ;ee„,~~t rcrwh..and €hirvi3'_ tt a s ~•
<br />,c-,z vxcr ~•c u?^~.:r YF~,c.E;~ ,.,ri:y er tied ,,,_. v: 9 r'. eery tit[~+1irc
<br />
|