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w0?^i,~~~~~d ~r~y e: zy, or ~,ry :~rt tY:erea~ , w~ic'r.. ~'r:as~ :^.ave
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~ pr~crit3 ove~ t'r:e ~ien o~ ;,2:is iror~~a;e;
(a) i: a:~:ort~;a~ee's c~scoveyo u~ tY:e ~:ortgagor's f~.ilure in any
:~~plicatior~ oi tr.e :~iort`a~or ~co tihe ~Iorteagee d~.sc~ ose any `
?dCt C~2@W@G }Jsl' ~~@ 'lOriQgo2c^ ~0 b2 naterial ~ 0^ Of ~:12 :r3'~I.Ylg
~herein, or i:~ any of ;,he a~reemen~s entered into ~y the ~iort-
`a~or with ~?:e ;~'_ortgagee (includin~, but not li~ited to, the
i~Tote a~d tbis ~Iort~age) oi any misrepresentation by, on be-
h~? f of, or for the_ aenefi ~ of, the Mortgagor; ~ ~
( e) T'c;e saia, • lease or ot'~er transfer of ar.y k~ nd cr nature of ~
zhe ~artgaged property, or any part thereoi, wit'r.out the
prior written consent of the Mortgagee; ~
~.~~he ~iortgaoee's fa~lure to exercise any ~i its rights hereunder shall ~
r.ot consti;,ute a waiver ~hereof. All t'ne events in this Paragra~h enum- • • ~
erated upon the happening of any of which -~re Note shall became, or may ~
~e declared io be, i::~ed~ately ciue and payabie, are in this Yortgage ;
called "events oz aeiault".
12. ±?~e vortgz;ee may fron time to time cure each aefault u:~der any
. covenant o:. agree~enz in any instruaent creating a lien upon-t~e mor~-
~aged property, or any part tnereof, which shall have nriority over the
tiien oi zhis l~or~gage, to such extent as the ~Tortigagee may exclusively
determine, and each a.mount paici ( if any) by t'ne Mortgagee to .cure any
:.uch defzult shall be paid by the Niortgagor to the :~ortgagee; and the
:~ortgagee shall also become subrogated to wha~ever rights the hoider of
~:e prior ~ien aight have under sucY: instrument. ~
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i3. la) A~ter t?~e h~.ppening o~ any default hereunder, t'ne Mort- ~
Vagoz~ shal~~u~on nznann af the I~fortgagee surrender possessi~n o~ the ~
~ortgaged property tio t'ne riorzgagee, and the ;~Iortgagee nay enter such `
~roperty, and let the saae and col~.ect all the rents therefrora which ;
are due or to beco~e due, and apply the same, after paymen-'t of all charges
~nd expenses, on acc~ur,t of the indebtedness hereby secured, and all such :
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rents and ~11 le~.ses existing a;, the time oi such default are hereby t
assigned to tne ~:or-cgagee as furt:~er securi~y for the payment of the ~
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'rdebtedness ~zcured hereby; and the Mortgagee may also dispossess, by ~
! ;:~e_usual su~ary prflceedings, any tenant defaulting in the payment of
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d:~y renti to ~ri~, l~:o~tgagee.
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~a) ~n t:~e ever.~ t'r.a~ tne i~ior~gagor occupies the ~ortgagea pro-
_,z-rty or ~r.y ~,ar;, ~'r~ereoi the ~crtgagor agrees . to surrender possession
sucY.• ~=opert;~ ~o t~e ~:artgagee i~inediately after any .~uch de~ault ;
a
:~reuna~r, ar.d ir t.~e ~~~ortgagor reraains in Fossession after sucn default, ~
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vucn possession _s'.al~ c2 as a tenant of tne Mortgagee, and -.:~e ;~ort~;agar ~
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~::all p~;~ ~r.~ aGvance, upon demand 'ey the tr~rtgagee, as a rezsonable ~or.thly
~~:~ta~ ~~r ~~:e UremLses occupied b;~ the Mortgagor, an a~our,~ at leasz
cC u1ValEr ~ tc a-r,e- ~we~~ ;.n of the a~gregate of the twelve montrly instail-
~ ~ ~s ~~;~~~~1e ~r, t':e curren ~ ca~enda~ year, plus the actual a~ounz of the
' G:~~~a~ ~rou~~d _er~~, ~i~ any, ~axes, assessments, water rates, ot'ner gov-
~'_":l~cT: ~~.i ci,ar~eS ~ c„T2~'1 ins~:rance bielIIltllilS U3~J201@ i.I7 connec ~ion t!Z ~II ~he ~
~_~r w~~,oec pro-_:er ~,y dwring s~,~ch year, anc upon t'ne iailure of ~'r.e i:ort-
vaoor ta :~y ~ucn ~~nt~iy ren;,ai, the z~ior~gagor a~ay also be dis~ossessed
' the u~ual s~~:.~GrJ proceed~ngs ~~plicab~.e ~ R tenants. This covenant
~ 80~7K 10~ PAGE ~4~
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