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of a receiver, ass;gnee or trustee, or upon failure of the Mortgagor to keep or per[orm any of the tecros, covenanta~ ~
rnnditions. agreements or stipulations of this mortgage~ the entir~ indebtedness hereby secur~d shal! immed- ~
iatcly~ or at any time thereatter. at the option of the Mortgagec~ become and be due and payable, and the equity +
of c+edemption o[ the Mortgagor may thereupon be foreclosed, or the Mortgagee may. at its option. [orecloac
only as to the sum past due without accelerating the entice debt, and without injury to this mortgage or the ~
disptacement oc impaument of the rcmainder ot the lien hereot. and at such foreclosure sale the property shall i
be sold subject to all remaining items of indebtedness payable und~er this mortgage aad the note secur~ed hereby, ~
and the Mortgagee may aRain foreclose in the same manner as o[ten as ther~e may be any sum past due.
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In the event of a suit being instituted to foteclose this mortgage. the Mortgagec shall be entitled at at~y time pendicig
such foreclosute suit to appty to the court having jurisdiction thereof for the appointment of a receiver of ~11.and singular ~
the mortgaged property. and of all the rents, issues and profits thereof from whatsoever source derived; and thereupon.~
the court shall forthwith appoint a receiver of said property ~nd of such rents, issues and profits, with tfie-ust~l powecs -
and duties of recei~ers in like cases. Such appointment shall be made by such couct as a matter of strict right,Lo the ~
Mortgagee and without reterence to the adequacy or inadeqµa cy of the tiralue of the property hereby mortgaged or tt~e :
solvency or insolvency of the Mortgagor. Such rents~ issues ~nd profits shall be applied by such receiver to the pa~~ment '
of the proper and reasonable charges and expenses of such receivership and the remainder to the payment of the mort-
gage indebtedness~ according to the order of such court.
This mortgage is intended b~• the parties to secure~ and does and shall secure the pa~~ment, fu11y and completely~
of any and alI sums of money herein described. and of any and al! extensions or renewals. with interest thereon, of the '
aforesaid promissorv note. or any instalment of principal or interest thereof~ and any such extension or renewal shall ;
be subject to all oi the covenants, agreements, oonditions and stipulations contained in this mortgage. ;
The 1liortgagee shall be entitled to enforce this mortgage and to exercise its reghts and remedies hereunder notwith-
standing that some or all of the indebtedness hereby secured is now or shall hereafter be otherwise secured. whether
by mortgage~ pledge, lien. assignment or otherwise. Neither the acceptance of this mortgage nor the enforcement thereof
shall prejudice or in any manner af~ect the right of the Mortgagee to realize upon or enforce any other security now or
hereafter held by the Mortgagee, it being understood that the Mortgagee shall be entided to enforce this mortgage and
any other secunty now or hereafter held by it in such order and manner as it may in its discretion determine.
Without affecting the liability of any other person liable for the payment of the aforesaid promissory note or for
the performance of the covenants and agreements herein contained. and aithout aRecting the lien or charge of this mort-
gage upon any of the property described hereie as security for the fu11 amount of all unpaid indebtedness hereunder.
the Mortgagee may from time to time, and a ithout notice, release any person so liable~ extend the time of payment of
any sum payable under said note~ or grant other indulgences. or modify any of the terms or provisions hereof or of said
note, release any parcel or portion of the propert~~ hereby mortgaged, or oonsent to the granting of any easement. or
enter into any agreement subordinating the lien hereof. or take or release any other security for the payment of said
note or for the performance of any of the covenants and agreements hereunder~ and/or make compositions or other
arrangements with debtors in relation thereto.
lt is understood and agreed that no delay or omission by the Mortgagee in the exercise of any right or remedy
accruing upon any default or in the doing oi anS of the matters and things by it permitted to be done under the terms
and provisions o[ this mortgage and said promissory note shall impair any such right or remedy, nor be construed to
be a wa~ver of any such default or acquiescence thereinw r.or shall it affect any subsequent default of the same or a dif-
[erent nature and every such right or remedy may be exercised from time to time and as often as it is deemed expedient
by the Mortgagee.
Nothing contained herein, nor any transaction related hereto, shall be construed or so operate as to require the
Mortgagor to pay interest at a rate greater than it is law[ul in such case to rnntract for, or to make any payment or to
do any act contrary to law. It is understood and agreed that if any clauses or provisions herein contained operate or ~
a~ould prospectively operate to invalidate this mortgage, in whole or in part, then, such clauses and provisions only shali
be held for naught~ as though not herein contained~ and the cemainder of this mortgage shall remain ogerative and in full
force and effect.
' It is mutually understood and agreed that ail words used in the singular number in this mortgage shall be deemed
to include the plural~ and the masculine gender shal) include the feminine and/or nenter, as the oontext ma}• require.
It is further understood and agreed that all of the terms~ conditions, covenants and agreements of this mortgage shall
extend to and be binding upon the Mortgagor and the heirs, successors or assigns o[ the Mortgagor~ and shall inure to
the benefit of the Mortgagee and its successors or assigns. ~'Vhen more than one party is named as the Mortgagor, the
obligations and liabilities of such parties shall be joint and several.
Fage SOOK 1~ PAGE ~~~7
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