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13. (a) A~ter the heppening o~ any de~ault bereunder, the
Mortgagor ehall upon demand of the Mortgagee eurrender poeeeeeion
oY the Mortgaged property to the Mortgagee, and the Mortgagee may
enter euch property, and let the eanie and colleat all the rente
therefrom which are due or to become due, and apply the eame, after
payment of a?11 chargee and eapensee, on aacount oY the indebtedneee ~ f
hereby eecured, and all such rente and all leaeee eaieting at the `
time of euch default are hereby aee~gned to tbe Mortgagee ae i`ur-
ther eecurity ~or the payment o~ the indebtedneee eecured hereby;
and the Mortgagee may 81eo diepoeeeee, by the ueual eummary pro- :
;
oeedinge, any tenant de~aultiag in the payment of any rent to the
Mortgagee. • '
(b) In the event that tbe Mortgagor occupiea the mortgaged ~
groperty or any part thereoY the Mortgagor agrees to eurrender ~
poeseeeion ot euch property to the Mortgagee immediatel~ after any
sucb default hereunder, and if the Mortgsgor remaine in p~aeeesioa
after euch deYault, euch poeeeeeion ehall be ae a tenant ot tbe .
Mortgagee, and the Mortgagor ahall pay in advance, upon demand by ~
the Mortgagee, ae a reaeonable monthly rental for the premieee .
occupied by the Mortgagor, an amount at leset equivalent to one- "
twelfth oF the-aggregate of the twelve monthly inetallmente p~yable
~ in the current calendar y~ear, plue the actual amount of the annual ~
.ground rent, i~ any, taaee, seeeeements, water ratea, other govern-
mental chargee, and ineurance premiume payable in connection with
the mortga~ed propert~r during euch year, and upon the failure of ~
the Mortgagor to pay auch monthly rental, the Mortgagor may aleo
be disposeeeaed by the uaual eummary proceedings applicable to
; tenante. Thie covenant ehall become efpective immediately upon
~ the bappening'of any euch de~ault, aa determined in the eole die-
cretion of the Mortgagee, who ehall give notice of such determin-
ation to the Mortgagor; and in the caee of foreclosure and the ap-
pointment of a receiver of the rente, the within covenant shall •
~ inure •to~~the benefit of such receiver. , . .
. . . ~ ~ ~
14. The Mortgagee in any action to forecloee thie Mortgage . •
ehall be entitled to the appointment oY a receiver without notice,
ae a matter of right and without regard to the value of the mort- ~
gaged prop~rt~, or the eolvency or ineolvency~ot the Mortgagor or _
i
~ other party liable for'the payraent ot tbe Aote and'other indeb- ~
~ tedneee eecured by thie Mortgage.
~ 1. Th Mort a or within ten 10 da e u on re uest in pereon
. 5 e 8 8 ~ ( ) Y P 9
or within twenty (20) daye upon requeet by mail, will furnieh
promptlq a written etatement in ~orm satiefactory to the Mortgagee,
~ eigned by the Mortgagor and duly acknowledged, oi the amount then
o w i n g o n t h e N o t e a
n d o t h e r ind ebtedneee eecured b
y thie Mort g
a ge, ~
and whether any otieete or deieneee eziet againet euch indebtedneee
or any part thereoi. ~
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~ 6~K 175 ~ 2704
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