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f:0~ ~~;.^,.i?:::. .='C ~C.'Z° Or SYl~I :~'dl't ~'.'f:c'lC:Cf ~ ld~A1C:'. :j'fsc'i~ i have
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~G~ R';.2 ~:Qrt~^o2c' S C:SCOV2Y'y 0~ ~Y28 i~i0rtg~.~or's i~11Llr~ lYl ~t~3T ~
appiication ~z the i~~cr~g=~.~or ~o ~he :;or~ea~;ee ;.o d;sclose any ~
i,:C ~ Gc2^.1EC Oy ~Y3@ 'brtgagee ~0 be ~3Z@r? ~l, 0~ ~t]@ Wak~ ng
thzrei:~, or i:~ ~ny oz ~Y:e agrcemznts entered ir.:,~ by ;.'~e Nort-
~agor ~.~ith tY:E irior ~~agee ( including, bu ~ not l~aited to, the ;
i~otz a:~n tl~is :~:or~gage; of ar.y mi~repres~ntation by, on be--
::u?~ oi, or ior ~h~ beneiit ai, the MorZga~or; i
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(e) T;a sa~le, lezse or o~her transfer of any kinn or nature of
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~he ~cr ~oa;e~ pro ~erty, or any part tY~ereof , without t~e !
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prior writi ~en consen ~ oi ~he ~Ior ~gagee; ~
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~i~e 2i~rta~.~ee's ~ailure to exercise any of its rights hereuncer shall =
not cor,s~~;.ute a wa~ver thereof. All th~ events in this Paragraph ennm-
era~ed upon ;.'r,e i~a~pening o~ any of whic'n the Note shall beco~e, or may
ce declarec t~ be, irr~ediately due and payable, are in this i~Iortgage
called "eve:: ;,s oi cefaul .
12. r•?^.e :l:ortga~ee may ~ron ti~e to tine cure each dei~.ult u7der any
c~venant or a~reenent in ary instr~~ent creating a lien upon~t~e a~ort- ~
~a ed ro ert or an ar~ thereof wnich sha~l have rior?t over the.
P ~ Y~ Y F 1 ~ ' ~ P Y
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~iz:~ oi -t~is i~;or;.gnge, to suc~ extent as the ~Sortgagee ~ay exclasively i
~::eter~~:~e, ana each amourjt rai3 (ii any) by ~hz I~ortgagee to cure any ~
such neiau-L shali be ~aid by tne i~Iortgagor to ~he Mortg~.gee; a~d the ~
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::~rtgagee shall also become subrobated to whateve~ rights the 'nolder of i
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~ne prior lien ~~~nti have unaer such ir.strunent. i
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i3. (a) A~-~er the hzp~,ening o~ any de~ault hereunder, the M~rt- ~
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~a~or sral~ u~on de~and of tne ~ortga~ee surrender possessian of tne i
i .::orz;a~ed Froper ~y to t'ne i~~rtgagee, arld the ~:ortgagee nay en ~er such
~ ~r~per ~y, ar.a ~et ~'r.e ~a~:2 and collec ~ al~ i,'ne rents tY~erefro~ w'nich
!E ~.re due or to beco~.z d~e, and apply the ~a~e, after payment of alI charges ~
E r, ~ C. Yi Q ` l, S u Ci ~
~..d ex~ e:~ses, oa ~cco.zr o~ the zr.debteaness hereby secure , a a ~
~ rents and all ~eases exist~ng a~ the ti~e of suc'n default are hereby ;
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assi~:~ed t~ tc,e ::ortgagee as iur~~er secur~ty for the payment of the ~
~ndebzenness secure~ Y:ereby; and the i~ortgagee r~ay also disposszss, by
~ l~e usual s~~?r;~ proceecings, any ~er~ant defaulting in the ~aynent of
any rent tc t'ne :~=ortoaoee .
A (b; ~:e eventi ~~:a~ the .•~ortgagor occupies the ~ortgaoed ~ro-~
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g :,erty o~ :.a_t ~~ereo~ t~e ir:ortgagor agrees to surrender possess; on ~
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~ ~uc :r~~2rty to ~ne I~:ortg~see i~ediately af ~er a:~~ su~a defaul ~ £
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~ ::erEU:;CCr, ar.d t~e ::Or't~,2~Or rema~ns in possession after suc?~ a~~au~t ~
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~ ~ac'~ p~s~ess~~:~ s~all be- as- a;,ena~t a~ the Mor~gagee, an3 ;,he ~%~artgago~ ~
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~ ~^a? r:y :n ~::vance, up:,n CeWand by t'ne ti:ort~agee, as a re:.sonab' e~:onthly
~ ~:~~a~ ~cr ~~:a : re~~ses occup~ea oy ~ne If~rt~aoor, an a~our,-;, at least
t7 ~CU:VG..LCti: ~~tc o-r.e-t~•relft:~ o~ t?:e a`~re~ate o~ the twelve mon ~:ly ins ;.a~l- ~
' W~:r; : a;~ac~e ~::e curr2n*, c~.Ier.dar year, plus tY:e actual a~oun the ~
$K ~:::~ua- ~rc,~r.~ ~en~, if any, taxe~, assessments, water rates, other ~ov- ~
y= :~rn~.-er: ~al c'.^.aroes, ar,d i-:su~u..ce : reniu~s pd;~able in conr.ec ~ion wi t:~e
~ ::.~r ~~avec -~ro ~er ~J duri ; sacrl fea~~ , and upon tne ~ailure of tic,e :~i~r
~ ~ago-~ to ;~y suc.~ ~o: ~ j~y ren;.al, ~'r.e iY:O"l~o2gOr may also be disp~ssessed
t:,e a~ual su^~...War;~ _r,roceedi r.~s applicable to ~enants . This covenant ~ ~
aooK ~83 997
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