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.~d d~.ll p.r •11 oihet ~um~ pmvided lo ba p.ld br ~6~ 1b~tp~1~. ~od ~6tll per(orm, comply witl~ and abidq by eu'h ~nd ~
~ver~ tbe ~tipulations, asrcen~enu, condition~ ~nd cereaanu ~t a~id p~a~ai~wrr note and of thir drrJ, ~hen this '~eed ~nd the ~
eNU~ INrabr craated ~h~U ceaae ~nd be aull ~nd votd. `
AND THE MORTCAGOR doc~ hereb~ turthe~ corcnu+t aed a~ree u klbrn: ~
~~'s
1. To par all ~nd ~in~ular the prinefp~) and lntereat u~d et6er wnu of mo~er p.y.ble by virtue of seid promiewry note ,i'
snd thb mortp~e, or either, promptlr on the dari rap~ctiwlf t6e nroe Kwerally come due.
2. 'i'o paY •II •nd ~inqular t~xc~, ~s~e~ements, kvie~, ll~billtka. oblisatioos and eneumbrances of every nature on uid
de~eribtd ptopertr, each ~nd every, within t6e time ~paeilied ia Parairrph 6 below, and i( the wme aha11 not bt promptly p~1d,
the MortiKee a~ar. ¦t rn~ time ~ither txlore o~ atter delintryeney, par the s~me ~rithout w~ivinR or e(fectin~ the op~ion to (orr
~ cle~e, a~ anr ri~ht hereunder ~nd every p~rment ~o made ~6d1 bear intere~t itom the d~te thereof at the rste oE 10 percent
~ ' ~ per ~nnum. ~
~ ~
, 3. '1'o keep the buildings now or herr.a(ter on ald land and thc fixtures ~nd perwnal property therein contained inaured, ,'j.
; in a companr or compania~ approved by the mottg~gee, a~~inet las hy lir~ and winJstorm, fo~ the higheat ineurable value w
r th~t the mortfiagtr'e inte~ewt i~ not suhj~:•t to ro-insnrance, and the policy ur policics sh~ll be held by end bt psyable to ssid
~ mortpsee, and the mong~gee sh~tll have the optinn to nerive and npply said paymont on nccount o[ the indebteJness hereby
~ aecured, or permit the mortgagor to rcrcive or ux it, or enr put thercof, for eny purpc~xs M•ithout thereby ~r~iving or iro•
pairln~ the equity, lien or ri~ht undrr and by virtue of thi+ mongage ~nd may pl~ce and pay tor Euch in~urance or anr part
thereot without w~i~ing ar a((esting the option to torecloee or any ;ight hereunder, end each such peyment Fliall lxnr inter~st (rom ~k~_~`
date ~t the rate ot ]0 percent prr annum. J• ~
4. To permit, commit, or sufter no wastc, impairmrnt, abandonment, or deteriotation ot s~id property, or •n~ ptrt there- ~
o(, and upon ths failuro of the Mortgagor to keep the buildinp as~d perwnal property on said propertr in 6ood condition or re• _
pair, the Moreg~ec m~y dem~nd tha immedJrte repalr oi said propertr, or' an I11CICiSIS in the unount ot ~ecuritr, or the im•
~nediate rep~rment of the debt hereby secured, ~nd the lailure of tAe Mortp6or te co~npiy ~ith esid dem~nd oi the Mort~ssee
(or • period oI 15 dars, shall conetitute a brCach of this Mortp{e. and at ehe optIon af the Moctgagee, immediatel~ m~ture
the entiro ~rnount o( principal and interat hueb~ ~ecured, ~nd t6o Mortsaaee, immed;ately and without notlce, m~y [nsticute
i proceedln~s to toreclox ehu Mortgage and applr {ar the appoieteqeat oi a Rtctircr, as hereinafter provided. _
5. To periorm, complr with and abide br each rnd ever~ the ~tipulatioru, sgreementa, conditiona, and covenanta !n uid
promireorr note and deed ~et forth. „i,
6. To deliver to ehe Mortga6ee, on or before FeSruary 1 of each 7roar, tax rrcetptr evidencing ehe pqment of ell 1R~?fullr
impo~ed tazs upon the mortRaged propert7 for the preceding cskndu ~ear; to delirer to the Mortgagee receipu evldencina ths
pa~ment~ oi all lien~ for public improvcment~ ~vithin Ninety (90) dars ~fter the wme ahall bec~ma due and parable, Rnd to par
or dlxhat6e within Ninety (40) dars after dne d~te, nnr uid ~11 government~l le~ies that msy be made on the moct~~red
~ propertr, on thb Mort~a~e or nota or In an~ other wa~ reruhtns fram tl~e ewrtga~e indebtedne~a ~ecured b~ t6is l~oct~a
i
7. To par ~ll and ~in~uler the co~ts, chu`~e~, wd e~tpen~es, lacludinR lawyer ~ fees, re~wnablr incurred or p~id at anr ~
tlme b~ th~ Mart~r~ee. becau~e of the failure of the ~Sort~a~or to perfocm, aomply with and sbide by each end eveiry ehe stipu- ;
lstion~, asreements, eoaditioas and covenaaU of a1d proaaLrwrr not~ and thu deed, or either, a~d ever~ ~uch paymtat rlr~ll
be~r interat tmm dete at t6e rrto of 10 peroent per ~neom. t'
; 9. 7'hst if any actioa, or procesdins, ~hall be a~mmenud br anr penon other than the 6older ot thie n~ortsa~e (except
an ~ction to foreclo~e this mortgage, ofi to cullect the debt ~ecured ehencby) to which action. or proceedin~, the 6oldcr ot thb
mort6a~e b m~de a party, or in Nhich lt ~h~ll become neceNar~ to defead. or upbold, tbe llen of tliis awrtpge, ~ll wms ~
prid br the holder of this mort~a~e for the ezpea~e oi anr lItigation to prosecute, or detend. the ri~h4 and lleo~ cre~ted by
i•` thi• mon~aro (Includln~ reseonable coua~el fea), ah~ll be pdd br the Mortp~or, to~ether rrith Iaterest thtreon. at t
he nte o f ~ i
10 porcent per aenum, and nny such rum, and the intereert thtnoa, shall be a claim upon wid prcmises, ar,d ehall be deemed ta
j;, be ~ecured 6y t6is mortgage. Tlie sumi paid by or incurred by t6e holder hereof !a accordance with the terme of thio pan~raph, '-y ~
~h~ll be paid by t3~e Mort~agor unto the holder hereot within thirtr (30) dan. and the fallure or omlrion of the Mort~a~ar w to do
shalt en~ltle the Morta~Qee to add wch wms to t6e principal indebtedaew oi ebls mortaa~e and the note it ~ecurea, and/or at la '
optioa dacl~re thb moregr~~e and the nae it ~ecura ta be tn default, thereupon matnripg dl of the unpaid Indtbtadna~ inclndin~
the ~um~ sdvanced hereunder. ' ~
~
9. T'hit no eztcnsion o! thc time or modificatloa of the tezma of p~rment herelnabove, and no release of anr p~n or paru ~:;i` ~
, of the mortgaged premisee, even thou~li made without the con~ent of the Mon~or dull retea~e, relievo, or diachu~e the
blortg~gor from the paymcnt of nny of tho +ums herebr ~eeured but in ntcb cwent the Mort~~gor shall neverthelas be llable' to ~
par wch ~ume according [o the terms of ruch e:tenaion or modlflesteons unler ~peclfleaUr relwsed and diacharged in wrttin~ ~
by ehe Mort`agee; and furthermore, shat acceptance oi part pa~rnrnt ot any iauaWaeat oi priacipal or interat, or both, or of ' ,
part performance of any cove~iaut or delay for any puiod of time in e:ercirlnQ the option to mature the entire debt, ~!?all nat
j~,~ operate es s wai~er of the right to execute eucli option or act on ~uch default, partial aeceptance or any ~ub~equeat default.
10. Until defeult in ehe performance of the covenent~ and a~reemena of ihb Mortp`e, the Mort~aror ~hall be entttled
r~,-. to collect the renta, i~auea, and profiu from the premi.~ hereinbeforo dacribed, but in cue of a default In an~ of the terms of
thu Mort~~e, or the filing of n F,ill to forecloae thia or any other mort~aae ee~cumbecina the Nithin deacribed pmperty, the ~ ti
( Moetga~ee shall immedintely and witliout noticc be entitled, u• m~tter of ri~ht, and rritbout ngard to the value of the premLee,
1'' ~ or wlvency or ineolvcncy of thn parties, to the appointaient of a Recei~er of the mortta~ed pmperty, both roal ~nd person~l, aad ~
of the renta, iesurr ~nd profite thereof, with the u~wl poMtr of Receiren in ~ucb cua, and euch Receirer may be continued j,• ~
I in poeseseior. ot the eaid property untit the time of the wle thereof, under sucls toreclmsure, and until tbe contirmstion af such
1~ ~ale by the Court. i
11. If foreclosure proceediugy should be inatituted on aay mort~a~e inferior to this mortgage or if any forecloaure pro• ~
ceoding ie inetituted on ?ny iien ui any kind, the mortgagee may at it• option immediately or thereafter declue this mortga~e
and the in~ebtedne~s xcured hereby, due and payable. If therc u~ny mort~a~e ~uperior to t hi~ mortgaQe, t hen fallu~e to pey
~ wid n~ort~age when due and in accorduncn with it~ terma or fallure to abide Ly tbe terms of taid mort~age ~hall be deemed a
breach of ttiia mortgage an~l the ~i~ortgegee nt its option mor immediately or thereafte~ declare this mortgego snd the IndeLtednea~
herabr acured due snd payaLle. Any niodiEicati~n of any mort~age ~uperlor to thb morti+?~e or wsiver o! wy pruscipsl or inten~t !~.y
m
p~ymenU on ~ny note or moztgage euperior to thie mort~aQe sh~ll be deamed • bre~ch of tl~e term~ and covensnu of this mort~a~e
and the mon~a~ee hareof iney at its option declara thb mortia~e and the indebtadnes~ ~ecured hereby due and payable.
12. TLnt tho msilin~ of a wrltten notlce of demirad, ~ddraae~! to ths ownar ot ceoord oE tlw mort~aQed premi~er, dttocted ~w
to the ~eid o~ner at tLo lut addrea actu~lly furntahed to the Mort`~ee, ar dlnected to tbe uld owner at ~ald mort~a~ed pra • j
misea, and mailed by thn Unitcd Stateo mails, rhxll bo auEticlant notlce and demwd ln u~r aase nrlatnr under this lostrument aad
raquired by the pruviaionr hereoE or by law.
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j 13. Thot in the csen[ ihe :~furtgagur ril,ould ax~ign tha renta of the mort~aged premises or any psrt tLereot witliout the
con~ent of the Mortgagee, tl;en thc entire principal eum recured hereby ~h~ll, at the option of tho MortgaQee, becomo iminedi~ta
j~ ly due and payuLle. ~ h'
~ ? .
14. To the extent u! the iud~btedncws ot tha Mort~agor ro the Mort`eQen deuribed htrein or aecureJ herebY, the Mortge~ee I
is herebr ~uLroguteJ tu the lien or lien9 und to the right,i o[ tha owuere and holden thereof oI euch aud evnry mortgage, lien or
. otber eacumLronce on the land di~cribed herein w61c6 u{raid and/or wtletieJ, in whole or In p~rt, out oi the procecda of tho lan
dNCribed herein or sccurcd hcrrLy, sn~l the re,~;pective liene of ~aid martga~es, liea~ or other eacnrnbrances, shall be Mnd the rama
~r?d uch ot them hereby ie pre~ervcd snd eLrll yaus to and be ~eld by die Mortg~~ee herein as security tor the indebtednea to the
j.. Mort~sgee herein de~ril,ed un c~rcby ~ecured, to thG eume e:~ant that it would havo kx~n prese~rved sud would Lrve Lcen pas~cd to
1"' and been held br thc Mortgage~ hud it Lccn ~luly unJ regularlr aa~igned, treneler:ed, net ovcr and drliverod unto thc ltortgagec by `;i
r reparrte decd o[ s~si~nmcnt nutwi~hatun~in;; tlie iact lhat t6c same mry Le sntisfied nnd cancelled of re~ urJ, it Luin;; the i~itention
of lhe parties hcretu tt~ut th~: ;u~ne rtill Le ~~ti~tir~! ood caucnlled u( rteord Ly tl~c l~ulJera thrrru( ut ur uLout thc time o[ tlie
r~corJing of tliis 31uil~,~r~~. ~ ~
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