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i,3. ~a) After the happening of any default hereunder, the
Mortgagor shall upon~demand of the Mortgagee eurrender poseeaeion
of the~Mortgaged property to the Mortgagee, and the Mortgagee may .
enter snch property, and let the same and colleat all the renta
therefrom which are due or to become due, and apply the same, after
payment of all charges and expanses, on account o~ the indebtednese ~
hereby secured, and all such ren-ca and all leaaee exi9ting at the
time of such default are hereby asaigned to the Mortgagee as fur-
ther security«for the payment of the indebtednesa secured hereby; ~
and the Mortgagee may also disposseas, by the uaual aummary pro-
ceedings, any tenant defaulting in the payment o~ any rent to the ~
riortgagee . •
(b) In the event that the Mortgagor occupies the mortgaged
property or any part thereof the Mortgagor agrees to surrender
possession o~ such property to the Mort~agee immediately after any
such default hereunder, and if the Mortgagor remaina in poseeasion
after such default, such posaeasion ahall be as a tenant of the
Mortgagee, and the Mortgagor shall pay in advance, upon demand by •
the Mortgagee, aa a reasonable monthly rental for the premises .
occupied by the Mortgagor, an`amount at least equivalent to o~e-
twelfth of the-aggregate of the twelve monthly installments payable
in the current calendar year, plus the actual amount oY the annual
.ground rent, if any, taxes, assessmenta, water rates, other govern-
~mental charge9, and insurance premiums payable in connection with
the mortgaged property during such year, and upon the failure o~ ~
the Mortgagor to pay such monthly rental, the Mortgagor may also
~ be dispossessed by the usual aummary proceedings applicable to ~
i
~ tenants. This covenant ahall become eYfective immediately upon
the happening'of any such de~ault, as determined in the sole dis-
cretion of the Mortgagee, who shall give notice of such determin-
ation to the Mortgagor; and in the caae of ~orecloaure and the ap-
pointment of a receiver of the rents, the within covenant ehall •
inure to the benefit of such receiver. .
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14. .The Mortgagee in any action to foreclose this Mortgage ~
shall be entitled to the appointment of a receiver without notice,
as a ma.tter of right and without regaxd to the value of the mort-
gaged property, or the solvency or insolvency of the Mortgagor or
other party liable for the payment o~ the Note and other indeb-
tedness 9ecured by this Mortgage.
. 15. The Mortgagor, within ten (10) days upon request in person
or wi~:,in twenty (20) days upon request by mail, will furnish
promptly a written statement in ~orm satiafactory to the Mortgagee,
signed oy the Mortgagor and duly acknowledged, of the amount then
owing on the Note and other indebtednesa eecured by this Mortgage,
and whether any offseta or defensea exist against auch indebtednees .
or any part thereof. ~
- ~ ~~K177 ~ 922 .
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