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3. To pl.c. .nd conlinuou.ly keep on the boJlldinge _ Ot ...,..tter ~tu... on Mid I.nd end ")ft .11 equlpmen' .nd penon.I:V covered by !hI. '1\OI1lJ"
~.. wilh .11 pr.m:....... IherlOon pe;d In full. fir. In.ur.nce In .... ...",.1 .t.ndard policy totm. In . .um epproved bv the MORTGAGEE, .nd wind.IOfm
in.ur.nc. In Ih. u.u.1 ,,"nd.rd policy totm. In . .um .pproved by the MOllTGAGEE. In .uch COtT'p""y or cOtT'plni.. .. the MORTGAGEE m.v
direct; .nd .11 fir. .nd windlm,,,. Ir......_ policlet Oft Ifty of'Mid building.. elty Inl.r..t t.....in 01 pert I"'reof. in t'" I{/gr~al. tu"" .fOf..lid Of'
In ..c... lhereof. "'all conllin Ih.. ulu.1 .tend.rd ~ c1..... Of .uch ot.... cI..... a. Ih. Mor'gagee may r~v".. making tl>e Iou und.. ..id poll-
ci.., .ach and .v..y, pey.bl. 10 ..id MORTGAGEE .. ita Int.,.., may eppNr. end MCh end .v.ry .uch policy ....11 be promptly ....gn.d .nd deliv.red 10
any held bv ..id MORTGAGEE .. f"..hp, OKurity to Mid mctt1gave debt. and. not .... than ten (10) d.V' In .dv.nc. of the ."piralion of u~h policV. 10 d..
li".r to ..id MORTGAGEE . r.newal the,eof. tog.l.... ....llh . rec.ipt tot the premium of .uch r_.....I; and I"'r. .hall be no fi,. 01 wind.IOf'm in.ur.nc.
plac.d on .ny of .aid bvilding.. ...y inl.....t therein 01 part thereof. unl... In the form .nd wi,h t'" lena raV.ble II .fOl.Mid; and in I'" .v.nl .ny .um
of rftOf\.v DeComlOl p.v.bl. under .uch policy Ot policlet Mid MORTGAGEE ....11 ...... t'" option 10 receive and apply ,he ...... on eccoun' of ,he indebled-
n... aecured "'r.by Of' 10 permit .Iid MORTGAGORS 10 ,ecelve and u.. I' Of any pert I"'reof fOf' olher purpoa... w.!houl t.....bV ....ai,ing or imp"ir-
i~ InV equity, Ii.n or righ' under or by virtue of ,hi. mctt1g.ge; end In the .v.", .Iid MORTGAGORS .hlll fOf' any r..oon hil to keep ,he ..id premi... 10
in.ured. Of hil '0 d.liv.r prOtT'Plly any of Mid policie. of In.urane. to Mid MORTGAGEE. Of' hil promplly 10 p.y fullv anv premivm IhlOr.for 01 in .ny
re.pec' flil to perform. ditcharge. ."CCul.. .ffact. COtT'pl.I.. comply with and abide by ,hi. coven.nl, or any part hereof. ..id MORTGAGEE m.y pl.c. .nd
pev for .uch in.ur.nc. or .ny per' 'Mreof wilhou' w.ivl"ll Of' .ffecting .ny option. II.... equity. 01 right und.r or by virtue of this Mortg.g.. and lhe
full amounl of Heh end ....,y .uch payment .hall be imrnecli.I.ly due .nd pey.bla and .h.1I be.r InterlO" from ,... d.t, lhereof unlil peid .1 lhe rallO of
ninlO per clOnlum per .nnum .nd log.lha{ wilh .uch inllOr." ....11 be .acur.d by the lien of thl. mortgag.. .
4. To permit. commil or .uff., no wa.I.. impai,ment 01 dat.riotation of ..id property 01 any pert thereof.
S, To pey .11 ar.d .ingul., I'" coot.. ch.rg.. .nd ."pen.... including a ru.onabl. attOtnIOY'. fee .nd co.l. of .b.lrach of tille. incuffed or peid .1
.ny time by uid MORTGAGEE. bec.uII Of' in the IOvant of the hilur. on the pert cl the uld MORTGAGOR 10 duly. prOtT'plly .nd fully perfor.... diacharge.
.'UKul.. IOIIK!. compl.t.. COtT'ply with .nd .bide by each .nd .v.ry the .lipul.liOl'll. .,_1" condilion., .nd coven.nll of uid prOtT'illory not. .nd Ihi.
mo<lg~. .ny or eilh.r. .nd uid COlli, ch.rg.. .r.d .xpen.... .ach and "".ry. ....11 be I_di.taly due .nd pey.bl.; whel"'r 01 nol I"'r. be nolic. d~
ma"d. a<<.mp't to collect Of' .uit pendi"lll .nd the full amount of ..ch .nd rvery .uch pay....nt .hall be.r Int.r..t from lhe da,. thereof unlil peld al I'"
r.le of nine per c."'um per .nnum; .nd .iI ..id co.". CNrg.. .nd .xpen... incurred 0( ~Id. togel.... wilh .uch inl.r..t. ahall be .acured by I'" lien of Ihia
mctt1gega .
6. That (ai in lhe evenl of .ny breach of Ihi. Mortgag. Of d.fault on t'" pert of tM MORTGAGOR. 01 (b) In t'" .vent any of Mid .um. of money
herein reflOrred 10 be nol prompI,ly .nd fully peid wilhin Ihirty. (30) d.y. nexl .ft... tM Mme .ev.r.lly become due and pey.ble. wilhoul dem.nd or no!ice.
or lc) in .he event eeeh .nd every Ihe .Iipul.lions, agreemenl., condilion. .nd cov.n.nll of ..id promi.lOry not. end Ihis morlgage .nv or .ilher .re not
:Iuly. prompllv .nd fully performed. d,Kh.rg.,d. execuled, effec,ad, completed. complied wilh .nd .bided 'lIy, lhen in eilher Of' any .uth event lhe ..id ag-
gregale sum menlioned in said prom,"ory nol. lhen r.m.ining unpeid. with Int.r..1 .ccrued. and .U money. aecur.d her.by. .h.1I be<om. due .nd pa.,..
.bl. fOf.hwilh. or lhereafter. al Ihe oplion of Hid MORTGAGEE. a. fully .nd compl.lely a. if .11 of Ihe uid"vm. of money w.re originally .lipul.llOd
10 be p..d on .uch day. .nvlh,ng in .aid promiuory note or in thi, Mortgage to lhe conlrary notwilhstanding; .nd Ihereupon or Ih.re.ltlOr .1 Ih. oplion of
said MORTGAGEE. wilhoul noloce c,r demand, suil al law or in equi'y. Iher.fore or Iher.alt.r begun. may be prosecul.d as if all money. .ecured hereby
had matvrt"d prior to its institution.
7. That in the event that at the beginning of or At any time pending any wit upon .hi, Mortgage. or to fOlKtale it, or to reform il. or to enforce
paymlOnt of any c1.im. hereunder, ..id MORTGAGEE shall apply to Ihe Courl having jurisdiclion IherlOof for Ihe appo,nlmenl of a RIO(ei,,,,. such. Courl .h.1I
forthwath appoint a receiver of said mortgaged propertv all and Ilngular. incll'dlng all and singular the income. profih. inut's and revenues from whatever
source di'riv('d. each and evert of which, it bein.g exprenly under'100d. is hereby mortgaged as if specifically sel forth and descr.t>e-d in the granting and
habendum clotuses t1creof. and such Receivt"f shall have all the brOld and effe<tive functions and powers in anywise entrusted by a Court to ,. Receiver. and
'vch appoinlmenl .h.1I be m.de bv such Courl a. an admilled .qulty end. mailer of .b.olule righl 10 s..d MORTGAGEE, and wilhoul reflOrence 10 Ihe
adc'qua(y or in.dequacy 01 Ihe valv.. of Ihe property morlgaged or 10 Ih. .olvency or insolvlOney of said MORTGAGOR or the defendan", and Ihal such
rena. pro,"... income. inulOs .nd- revenue. .hall be epplilOd by .uch Receiv.r .ccording to I'" li.n or equity of uid MORTGAGEE and Ihe praclice of such
Court.
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15 PAGE 306
B. To dulV. promplly and fullv ""rform. di.charge. eXlOCute. .ffect, complel.. comply wilh .nd .bide by each and eve.... the .Iipul.lions. .greements.
conditions and covenants in said promiuOty note and this mortgage ,et forth.
9. ThaI in Ihe eVlOnl Ihe ownN.hip of IhlO morlgaged premi.... or any p.rl thereof. becomes ve'led in . plrwo Olher Ihan the MORTGAGOR, lhe
N.ORTGAGEE. its successors and auigns. may, without notice to the MORTGAOR, deal with su<h svccenor or successor in interest with reference to this
mortgage and the debt hereby secured in the same manner as with Mortgagor without in any w,y vi'i.'ing or dis.charging .he Mortgagors' liability here-
under or upcn the debl hlOreby s""ured. No sale of Ihe premi.lOs her.by mortg.ged .nd no fOlbearance on Ihe parI of Ihe MORTGAGEE or ils succenors
or al\ign. and n" e.tension of Ihe lime for lhe paymlOnl of Ih. d.bl l!ereby .ecured given by lhe MORTGAGEE or its .uccenOf' or assigns. .hell operal.
10 rele.... disch.rge. modify chang. or affecl lhe original liabililV of Ihe MORTGAGOR her. in. .ilher in whol. or in part.
10. II is specifically agreed Ihal lime i. of Ihe .....nce of Ihi. conlracl and Ihal no waiver of eny obligalion her.undlOr or of lhe oblig.lion se-
cured hereby .hall al .ny lime lhereah.r be held'lo be . waiver of t'" lerm. hereof or of lhe in.lrumenl secured h.rby.
hereunlo .101 hi. hand .nd .eal Ihe day
(Se.I)
~TATE OF:X~~?!L,QI i..,,)G
COUNTY OF -n.c ,IU?~
~
I
SS.
George
Patterson
lherein expressed_
....if. of Ih. said
And 1M s.id
and
hi. wife. to me w.1I "'nown .nd known to me 10 be
and .cknowledged befOf'e me th.t they executed tM .ame for lhe purposes
Gladys Patterson
8efOf. me penon.lly .ppeared
Gladys Patterson
lhe individull. described in .nd who exKUted the foregoi"ll In.trument.
Geor~e
Patter'son
.xaminllion by me I.....n IIp.r.le .nd .pert frOM her Mid hu.bend. .cknowledged 10 .nd before
t.rlly .nd without .ny compulsion. conatr.int. .pprahan.ion. Of' f.er of Of' frern id huaband.
WITNESS my hand .nd offici.1 11.1 lhiL-~ 5' ~ ci.y
me
. . upoA . 'Mp~r.l. ef\d prlvel.
I"'t .... exKUted, ..id-,'''.tr.....t Jritaly aIM! volul>-
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Finl Feder.1 Savi"ll. & loan Auoci.tion
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