|
' (d) That in the ~vgnt Che,ll~ortga~gors Za1E to pay r31en r)ne arty tsxes, liens, ,]ildgtnants, ar assessments, pr fat; 1, to ~ ~~~
<br />'malntaih~insureaca as ~hereintiefareprovided, or__*a11~ topayrents, fees;~or charges under trieteims of arty lease, ~'
<br />permit, licence, or Drl vi loge; or Mortgagee is required to incur expenses for abstract fees, attorney Sees, costs, f
<br />expenses, and other charges Ln connection with 11 Ligation, Mortgagee may make such Dayment or provide such insurance,
<br />or incur such obligation, and the amounts paid therefor shall became a part of the indebtedness secured riereby due ' !
<br />and paye.Dle immediately, and shall Dear interest from the date of payment at the same rate as provided for default
<br />In the note.
<br />(61 T71at Sn the event aqy awards are made to the Mortgagors or their successors in interest for taking or damaging I
<br />by the exercise of eminent domain the whole or aqy part of the mortgaged premises or aqy easement therein, the said E
<br />awards are hereby assigned to the Mortgagee; the Mortgagee Ss hereby authorized to collect, receive, and receipt
<br />therefor and to apply the same in payment of any indebtedness, matured or unmatured, secured by this mortgage. ( (
<br />(8) That in the event Mortgagrrs default in the payment of said principal sum, or of any installment thereof, or
<br />'of eiiy interest thereon, at tht: time when the same shall be due, or with respect to any covenant or condition here-
<br />of, than, at the option of Mortgagee, the entire indebtedness secureA hereby shall forthwl th become due end payable, 1
<br />shall Dear interest at the default rate describetl Sn sold note, and the Mortgagee may immediately foreclose this 1
<br />mortgage or pursue aqy other available legal remedy.
<br />(7) That In the event action is brought to foreclose this mortgage, the Mortgagee shall be entitled to immediate I
<br />possession of the mortgagetl premises, and the court may appoint a receiver to take possessl on of said premises, with ,
<br />the usual powers of receivers in like cases. ~ ~
<br />(8) That failure or delay of Mortgagee to exercise any oI Sts rights or privileges shall net be construed as a
<br />waiver thereof; that any act of Mortgagee waiving any specific default of Mortgagors shall not be construel as a
<br />waiver of any future defaults; chat in case of default In the payment of aqy amortization installments or interest,
<br />or In case of payment by Mortgagee at aqy lien, .tudgment, tax, insurance, cost or expense, or rents, fees ur charges, ,
<br />said Mortgagee shall have the privilege, without declaring the whole indebtedness due end payable, to foreclose on I ~
<br />account of such specific default for such sums as are in default and °uch foreclosure proceedings may De had and I!
<br />the land described herein may be sold, subJect to the unpaid Indebtedness hereby secured, and this mortgage shall I~
<br />continue as alien for any unpaid Galance. IiI
<br />(9) That the Mortgagee may extend and defer the maturity of and renew and reamortlze said indebtedness, release
<br />from 11abi11ty any party liable thereon, and release Lrom t!;= lien hereof portions of the property covered hereby, (
<br />without affecting the priority hereof or the 1fab111ty of ;lortgagors or any other party for the payment of sold j
<br />SndeD tedness, all such extensions, determents, renewals, and resmortizatlons to be secured hereby.
<br />(1.0) Transfer of Security. It is agreed between the parties hereto, their hairs, legal representatives and assigns,
<br />that the integrity and respons SDillty of the Mortgagors constitutes a part of the consideration for the note secured ~
<br />hereby, and that Sn the event the Mortgagors shall sell, transfer, or convey the property described herein, the
<br />Nortgagee may at Sts option declare the entire indebtedness immediately due and FaYable and may proceed Sn Lhe en-
<br />Pareement of its rights as an aqy other default in the terms of the note and mortgage, f j
<br />(~o ds and phrases herein, i+le(udinF :he ackno•~uZed~ment hereof she 11 be construed as in the singular or ~Zura[
<br />ors and as mascuirone, femnnsne, br neuter ger>3e accordirg )o the context.)
<br />STATE CF +/IG~~.-^r
<br />ss.
<br />Cfli1NTY OF ~ ~
<br />~~t c..a"L"`"~ .{.SEAL)
<br />to L. ay
<br />ono ay (SEAL)
<br />( (SEAL)
<br />(SEAL)
<br />(SEAL)
<br />(SEAL)
<br />(SEAL)
<br />(SEAL)
<br />Shi thla_~'i day at 1y-+ A. L`., 19..5(L, hefore m0, :t No Gtu'y lvblic in a[!d for sale Gour=ty ari
<br />state, personally appeared_Stzven L. Bray afld Mona J. Bray, husband and {wife,
<br />to me known co De the porsons r><vned 1n Ord who rxecuted the foregoing lltstrumant, and acknowledged that they executed
<br />the same as their voluntary act and deed,
<br />My oommisslon expires FeL~., r-~ .lr, /StM
<br />O .
<br />w
<br />W ~
<br />0 c
<br />e F.
<br />9
<br />L
<br />is
<br />y 1
<br />6 C
<br />M 1~
<br />N
<br />.3 ~
<br />~.~~ G/'
<br />n (type or p.I nt ama under signal urar
<br />Notary PuDll r. Sn and for said Corm ty and State
<br />
<br />N ~
<br />N V o
<br />nl a~
<br />
<br />~
<br /> e~ I ~ c ~a. _. ?~~ .~
<br /> 4. `~ .W.d .. .. - ''~
<br />,x i L
<br />• ts. L•
<br />C w
<br />J V V
<br />t ~
<br />
<br />.r
<br />~' ~
<br />~
<br />cx
<br />
<br />ry ~'
<br />~
<br />±
<br />o ~ ~ _I ~ ~ fi _
<br />u ~~~ ~ ~a
<br />V p of
<br />O i
<br />V q C
<br />
<br />E
<br />
<br />ms' V
<br />
<br />~ ~
<br />„
<br />•p ••~.' ~..~i~~
<br />a) {.. b1 a4 l i ~~! ~ li v :.l ~f Y T i t .. ...
<br /> ~
<br />
<br /> ~'
<br />~
<br />~' ~
<br />~ raw.-
<br />f (9kiln.
<br /> ~
<br />,.
<br />a ., i ~ ~ i _ ~ F~
<br />
<br />t.'
<br />.._ . _ .,..... . _ _. _. __
<br />
<br />~
<br />_
<br />, ....._ yyyyyy~~~~~~
<br />_ 491~_,~_~ _
<br /> '"
<br />+ 't}N jtiE3iiiti; ~ 3@ F7PlAlUa
<br />
|