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13. (a) Aft~~ ~he happening of a~y default hereunder, the
Mortgagor shall upon~demand of the Mortgagee surrender possession
of the Mortgaged property to the Mortgagee, and the Mortgagee ~ay
enter such property, and let the samE and collect all the rente
therefrom which are due or to become due, and apply the eame, after
payment of all chargea and expenses, on account o~ the indebtedneee ~
hereby secured, and all such rents and all leasee exiating at the
time of such default are hereby assigned to the Mortgagee ae ftiir- ~
ther security«for the payment of the indebtedness secured hereby; ~
and the Mortgagee may also dispossess, by the uaual summary pro-
ceedin~s, any tenant defaulting in the payment of any rent to the
Mortgagee. •
(b) In the event that the Mortgagor occupies the mortgaged
property or any part thereof the Mortgagor agrees to surrender ~
possession of such property to the Mortgagee immediately after an9
such default hereunder, and if the Mortgagor remains in poaseseion
after such default, such possession shall be as a tenant of the
Mortgagee, and the Mortgagor shall pay in advance, upon demand by •
the Mortgagee, as a reasonable monthly rental ~or the premises .
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occupied by the Mortgagor, an amount at leaet equivalent to o~e- ;
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twelfth of the aggregate of the twelve monthly installmenta payable
in the current calendax year, plus the actual amount of the annual
.ground rent, if any, taxes, assessmenta, water rates, other govera-
~mental charge9, and insurance premiums payable in connection with
~ the mortgaged property during such year, and upon the failure of
the Mortgagor to pay 9uch~monthly rental, the Mortgagor may alao ;
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be dispossessed by the usual_summary proceeding9 applicable to
tenants. This co~enant shall become effective immediately upon
~ the happening'of any such default, as determined in the sole dis-
cretion of the Mortgagee, who ahall give notice of such determin-
ation to the Mortgagor; and in the case of foreclosure and the ap-
pointment of a receiver of the rents, the within covenant shall -
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inure to the benefit of euch receiver.
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14. .The Mortgagee in any action to forecloae this Mortgage
shall be entitled to the appointment of a receiver without notice,
as a matter of right and without regard to the value of the mort-
gaged property, or the 9olvency or inaolvency of the Mortgagor or .
other party liable for the payment o~ the Note and other indeb-
tedness secured by this Mortgage.
15. The Mortgagor, within ten (10) days upon request in person
or within twenty (20) days upon requeat by mail, will furnish
promptly a written statement in ~orm aatiafactory to the Mortgagee,
signed by the iyiortgagor and duly acknowledged, of the amount then •
owing on the Note and other indebtedness secured by thie Mortgage,
and whether any offsets or deYenaes eziat against such indebtednese .
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or any paxt thereof.
~ ~ooK 177 ~E 949 .
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