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:uul .hui) ~lul~' En !lu~'n~, ~.~n~~~ly ~~'itli ciwl ::1ni1:• I~~• ~~:t~•li :~n~l ~~crry Uu• 5ti{iul:iliuti:;, ci,~i~litiuu±, :1nd covenunts uf S:AIII 41K1iT1155UCy t
nul~• :tn~l uf thi.; niurt~;a~;r, th~~n .hi, nwrt~;..y;~• :u~~l tli~• r;L:~t~~ hi•rrby cr~•aL~YI tih:~ll crusc .~nd null ur?ci vuid.
!t i, un~l~•nt~~~K! t}r~t lhr ~~•nni "~u~~rt~;:+~;~~n," N~hrthrr iu thi• sin},•ular ur plural anywhern in this mortgege, shall be
sinti*uL•u• if unr unly :uid ,h:~ll br plur.il jniutly :~n~l ,~•vrrully if moii thw~ one, und th:?t Lhe word "their" us used anywhere in
this murt~u~;i~ ahall b~~ tak~~n tu m~~aw hi;, hrr ur ils, H~hrrr~•i~r the cuntext w implies or admits.
~nd the Mort~;fl~;ars herek,y 3uincly und s~~verally covenant anc~ agree to and with the Mortgagee:
1. Tu p:iy :tll and iinfiul:~r 4he principul :u~d intemst and thc ~:~rious ttnd sundry sums of money puyaDle by virtue of
s<sitl promi;sury nutr :?nd thix mort~u~e, ruch ar~d ev~v~y, prump6ly un th~~ ~lays respectively the ~ume severully become tiue. 'T"ne
Mortg.~cti• may i•ollrct a"late chcu•~;e" not to ~~xc~•o~l :?n um~~unl equ:il to twu }x~r centum (`l"/o) uf any installment uf the note
hert~by sk•cun~1 N•hich ia not puid within iift.•cn (15} duys ufter ~hc duc dale the~reuf tu cuver t}:e extra ezpense involved in
hundlin~; Jelin~~uenl payments.
2. To pay whcn due and without rrquirin~; any nolic~ from Mort~aqe~ all and sinfiult~r the t~dxes, a.xtiessments, levies,
obl+gatiuns 1nd incumbrances of every nuture unJ kind now on suid descritxd proparty, and/or that hereufter muy be im-
pc„c~l, suffer~d, placed, levic~d or :t,sessed themupon, und/ur th.~t herr.~fter rnay be levied or assessecl upon this mortRage
and;'or thi~ inde6[t~lnrss securrd hereby, earh und every, :ind lU3~tI:1Y :?.3 uny thereof is of record the same sh~l1 be promptly
sutis(ic~l uud disch:?rgcvi o[ iti•cuni .uid the uri~;in<<t ufficial document (such :is, for instance, the tax receipt ar the satisfact;on
paper offici~illy endurx~l or certified) shull be p1cu~Yl in the hunds of s:?id Mort~a~ee within ten days next after paYment.
3. To kEep the impro~~ements nuw t~xistin~ nr hercufter erect~rd un the morlgu~ed property, and the eryuipment and
prrsonulty cu~•ered by thi~ Mort~a~e, insured as may bc~ r~uirrd [rom time to time by the MortKu~ee aguinst lotis by fire, ex-
tc~ndz~l co~•~~r.i~t~ .u~d such other h~zards, r,isualties .ind continKencies as may bc rei~uirril by !~lortqa~;ec~ and will puy prumptly,
when dur, any prc•miums on such iruurunc~. All insurunce shall 1~ in forui and umuunts satisfuctory tu, and in insurunce com-
pu~i~~s appro~~ed by the Mort~a~ce, and th~~ pnli~•ies ahd renewals therc~oC shali bc• h~ld by ~Iorttiafiee xnd have uttache~l thereto
li~s, p.iy~ble cl:w,~~s in f.ivor of :ind in form :icc~~pt~lble to the Murtqu~~~e. ln e~'rnt ot luss the Murt(;u{;urs will Kive imm~:diute
notice by m.iil to Murt~;nKee, and Murt~;u;;ee ~nay mxkc prouf uf loss if nuL made promplly by Mort~a~ors, and ea:h insurance
cumpany cunc~~rned ia hereby .iuthurizctil and directed to make paymenl for such lo~.s directly Lo Mortfiafiee instead of to
Murtguqors and ~iurt~;a~ee jointly, an+l lhe insururce proceec~s, or :u~y paft thercol, rn<<y be .ippliecl by A4ort~a~ee at its option
either to the re~duction uf the inde~t~•dnc~ss hc~r~~by secured or to Lhe restor<?Lion or repair of the ptroperty damagc~l. In e~•ent
uf fort•rlosure uf this mortKu~e ur othr:r trat~sfer of title to the mort~a~~~ pror~erty in extingutshment of the indebtednes.4
secured t:ereby, all right, title, and interest of the MortRu~ors in to any insurtince policies the?i in foree shall pa-ss to the pur-
chaser or Qr.sntee.
4. To remove or demolish no buildin~ on ~~id premises without lhe writt,t~n cunsent. of the ~';ort~agee; to permit, curn-
mit or .~uffer no wuate, impairment or deterioration of said property or :~ny part thereof and to kecp the ,ame and improve-
menta thereon in aood condition and repair.
5. To pay al; and ainqular the rnats, charges and expenses, includin~ reasona.ble laK~yer's fe~s, law~yer's disbursements
and cost of abstrtuts of tit!e, incurred or paid xt any time by the Mortgufiee berwse of the failure on the part of the biortqa-
qors to duly perform, comply with and abide by each and every the stipulations, conditions t?nd covenants of said promissory
note and this mortqage, any or either.
6. 'T`hxt in the event the Mortgagors fail tu pay or discharge said taxes, assessments, liens and incumbrances, or said
coats, char~es nnd expenses, or fsil to keep said premise~• insured or to deliver the policies, premiums paid, or fail to repair the
ssiid premises, ati he.-ein ugreed, the Mortgagee is hereby authorizeci at ils election to p:~y and/or discharge said taxes, assess-
ments, lieh3 and 'encumbrances or any part thereof, to pay said costs, char~es and CX~P.iISCS, to pr~cure and ~ay for such in-
suranee or to inake and pay for such rep~?irs, a•ithout :iny obligation on it~ }~art to dc~termina the ~•alidity or necessity of any
thereof and without thr Mortga~ee wui~~in~ ar affectin~; any option, lien, equity or right under or by virtue of this mer~~a~e;
an.1 the full ssmount uf exch :uad e~~ery sueh p:iyment shull be immediately due and pa}'able ard sl;all bear interest from the
date therc~~f until pxid at the rate o! eifiht per c~ntum per unnum, anc4, to~c~ther with such iriterest, shall be secured by the
lien of this mort.~a~e; but no;hin~ herein containeci shull be construed as re~luiring the Murtga~e to advance or spend moneys
for ~ny of the purposes in this para~rssph mentiutwcl.
7. That (a) in the event of any breach of thiy mortgxge or def.wlt on the part of the ,lQortgsgors, or (b) in the e~~ent
anY of ~xid ,u~ns of money hcrein reterred to be not promptly am~ fully paid withiu fiftecn d~~ys next aft~r the same ssverally be-
rome due and puyable, without demand or notice, or (c) in the ever~t Pach xnd every the stiputatiuns, con~iitions and co~enants
of said pmmiasory note and this mortgage, any or either, are not duly performed, compliecl with and ab~ded by; then, in either
or any such event, the said aggre~ate sum mentiuned in said promisyury note then remaining unpaid, with interest accrued,
and all moneys secured hereby, shall become due and payable forthwith, or thereafter, at the option of said Mortgagee, as fully
ar,d completely as if all of the said sums of money were originally stipulate~l to be paid on such day, anything in said promis-
sor.y note or in this mortRagc_ to the contrary notwithstandin~; and thereupon or there~tfter, at the option of the MorL~igee,
withaut notice or demand, suit at law• or in equity, theretofore or thereafter be,~un, may be prosecuted as if sll moneys
aerunvi hereby had matured prior to its institntion.
i
C 8._ That if any suit shall be instituted to foreclose or reform this mortha~e and%or to enforce payment of any claims
hereunder, ttie Mortgagee shall be entitled to apply at any time pending such ~~iit, to the Court having jurisdiction tnereof,
for the appaintment of a Receiver of the mortga~ed property xnd ~f al! and siny;ular the c•ents, income, profit~, is,ues and
revenues thereof from whatever source derived, each and every of which are expressly mortg~ged by this instrument; and
it ix hereby expressly covenanted and agreed that thereupon such Court shalt forthr+•ith ap~roint a Receiver of said mortgaged
property, and of all and ainRular the rents, income, profits, issues and revenues thereuf frum whate~er source deri~~ed, with the
usual puwers and duties of raceivera in like cases; and such appointment shall be made as a matter ef strict right to the
Mart{;agee, and without referenre to the ade~~uacy or inadequacy of the value of the property hereby mortgaged, or to the
solvency or insolvency of the Mortgagors.
9_ 'Thi?t MortgaRors hereby assigrt, transfer and set over to Mortgaqee, up to the amount oi the total indebtedness
securcd hereby, all awards of damuges in cor,nectiun with the condemnntion of any of said property for public uae or for injury
to any part thereof, and the proceeds of all such awanis, after paymeni of all reasonable expenses incuned, including fees
for attorneys representinR Mortgaqee in anq proceeding in which siny auch award is mude, sh:ill be paid to 14ortgageP to be
applied upon the indebtednese hereunder in such manner as Mortgaqee may elect.
10. That time is of the essence of this contract and no waiver of any obligation hereunder or of the obligation secured
hereby shalt at any Lime thereafter be held to be a w~aiver of the terms hereof or of the note secured h~reby.
11. Without affecting the liability of any person (other than any person released pu~uant hereto) for payment of
any indebtc~c3neas secure~ hereby, and without affecting the griority or extent af the lien hereof upun any property not speci-
fically reteased pursua.nt hereto, MorLgagee may at any time and frum time to time, without nutice and without limitation as
to any legal right or privilege a! Mortgagee:
(a~ Kelease any person liable for payment of arty indebtedness aecured herc>by; (b) Extend the time or u~ree to
alter the terms of ptiyment of any of the inde6tedness; (c) Accept additional security uf any kind; (d) Releas~ any property
securing the indebtedness; (e) Consent tu the creation of any easement on or over the premiaes or .iny COVC11371L3 restrictint~
use or uccupuncy thereof.
t`L. To dul~ perform, comply wiLh and abide t~y each and every the stipul:~tiuna, condition? and co~~enunts in said prum-
issory note and in this mortqaqe aet furth.
13. As aclditionai aecurity the Mortaaqor; do hereby transfer, assiRn and set over to tne said MortqaRee, its succes-
~:,r, ur 3ss;i~n~, any and all rent.s now due, or to become due, on the above describeci pr~>mises or any separate rental premise
appurtenant therr.to, which are situated on the lAI1LI abovr• described; such rents to be coll~rted bv or at th~ direction of the
Mortga~ee, its successors or ussiKns, and the net proceed~ thereof to be applied to the in~iebteclness hereinbefore secured, as ;?nd
when the same shall becnme due and payable; and (or thc purpose of carryinq out this pruvisicn the Mort~;ugut~ do by these
presents, corutitute and app~int saiii MortKagee, or the successor~ or assi~ns of the said hiort~a~ee, as his, her or their true
and tawful xttorney-in-fact, to collect any and all rents for said above desrribed premises, expressly a~~thorizin~ the Mortga-
g~e or its succe~;sors or as~iRns to receipt tenant~g t.herefor, and do by these presents ratify and confirm any and all acta of
said uttorney-in-fact in relation to Che foreRoing power.
fQItM MJ 74! ; ~O~K i -
a. 5.~ V