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~~ri~~~ed prcperty, or any ~art thereof, w~ich sra~l rave (
priori ~y ~ver lien o~ this N~ort~a~e; ~
The ~~iori~,s;ee's ciscovery of tne I~Iort~agor's i~,izure in an;~
applic,~tion oi t:e i~iort~;a~or ta ~he ;~or~gaoee ~o disclose any
fact dee~ed by the '~lortgagee to be waterial, or of tY,2 ma~ing
therein, or ~n any af ~he a~;reements entered ir. ~o by the IsTort-
~aaor ~ti~itn t'ne tiiortgagee (including, but no~ 1=~ited t~, ~he
vote G~d ~!~is :~Iortgage) of ary misrepresentation by, on be-
: a~ f of , or for the benefit of, the rfortgagor;
(e) ~hz sa~e, lease or other trarsfer of any kind or nazure of ~
the ~ort~agea propexty, or any part thereof, without the ;
~rior written consent o~ the i~ortgagee; ~
I
=~e ;~or~ga~ee's ~ai~ure to exercise any o~ ii,s rignts h2reur.der shall ~
~ cons Li Lui~ a ~raiver -thereoi . All the events ir. t'nis Paragraph enum- • -
.
: raied up~r ~':,e Y:appen~n~; of any of ~ir.ich the Note shall become, or may
~a deciared to ~e, ~~er`.iate~y due and payable, are in this ~Iortgage
.:~~1P4 "even~s of default".
1?. ~ae i~i~rtgagee nay froa ~i~e to tine cure each aefault under any
~ovenanti ar abrae~en~ in ar~y instrument creating a lien upon-the mort-
~aged ~r~perty, or any ~2i''~ thereaf, w::ich shall have prior~ty over the
~ien of z:zis ~:ortoage, to such exten~ as ~?~e tiiortgagee may exclusively
.:e ~er~~r.e, zn.: each arno;~nt ~ aid ( ii ar.y) by ~ne Mortgagee ta cure any
suc:~ de~au~ s?~all ~e paid by the hlortgagor to the Mortgagee; and the
:~:~rZgagee shall also become sabrogated to whatever rights the holder of
;,he prior ~ien might have under such instrument.
'13. ~a) n~t~r the happening of an~ default hereunder, the Mort- ~
~a~or sha~~ upon ne~and of the Mor~gagee surrender possession of the ~
:~~rtgaged ~ropertJ to the Mortga~e~, and the :~ior~g~gee may enter such ' ~
_~roperty, ~nd {et zhe sa.me and col~ect all the rents therefron which ~
are due cr ta becc~e due, ar.a appiy t?~e same, after ~ayment of all charges •
a:~d expenses, on account o= the indebtedness hereby securea, and all sucb
rents ar.d ali leases existing at the time of such default are hereby
:ssigned t~ zhe i+~ortgagee as ~urther security for the payment of the
~ndebtedness secured hereby; and the ~ortgagee may also dispossess, by
~~e usual ~u~ary proceedings, any tena~t defaulting in tY~e payment of ~
any rent to the ~`ortgag~e. ~
;
(b) in t~e event ~hat the T~`ortgagor occupies the aortgaged pro-
-~;erty or any rarti ~hereoi the ~:ortgagar agrees to surrender possession ~
~
such pro~erty to tY~,e i:ortgage~ i~eciiately after any such default
~^Ereur.~er, and ii ~ne irlcr~gag~r remair.s in possession after such default,
~uc~ po~sessior. s:~a~ I be as a tenan ~ o~ t?~e ;~lortg~,gee, and ;.he 2ytortgagar
~.ha~l ~a;~ ~.r. aavance, upor, Ge~and 'ey the I~iortgagee, as a reasona'ole nonthly
~^an ~al ~or 4'r.e preWises accupied by
nt e
~~.or
~agor, an-aa~oun a~ 5
~ ~u~v~lzn~ z~ or.e-~~•;eli~'r. o~ ~he a~gr2gate of the twelve nonthly insta~l-
~-er.ts ~,a;~a~~e ' c, t'r.e cu~r~r. ~ cG~end~.r yEZr, plus trz actual a~ount oF the
~=1Tii~G= ~r0~?:C~ ~ET:t ~ ii 3:?3/, ~~X@S ~ u.~S~SS~P.T: i.S ~ water rates, ot~er gOV- 4
~r~ :e::~ta~ Cf.2r~es, a: a in~urance pre~,iuas _payable in cannec~ion with the ;
:
~-or ~~a~ed : ro ~e~~i,;j ~uring suc'n year, and up~n the failure of t'ne Z~tort- '
~~oor to sac:~ ~on ~:.iy rent4l, the iFOr Lgagor may also be dispossessed
~::y the usk~l su:,Wa~~ :.roceeci r.~s applicab~eR t~Q~enants.~_
This covenant
300K O PAGF 6
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