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~a~i•~~;a~;~s L,~~p~:r~y, ~r a:y ;:art t'r:ereo., w'~ic'~: :;h~,ll 'r.ave i
prioritiy over th~ lien qf tais ~:or~gage;
(d) The tiiort~a~;2~'~ d~scovery oi the I~Ior~ga~or's i4ilure in any
applicatior. of tne :~?ortgagor to the :Kortgagee to 3isclose any
fact cieemed by tr,e `~'ortgagee ta be material, or of the msking ~
~-::erein, or ~n any of tre agre~ments entered into by the Mort-
_ ~agor with the Mortgagee (including, but not limited to, the
- vote and this Mortga;e) of any misrepresentation by. on be-
:;alf of, or for the benefit of, the Mortgagor;
(e} TY:e sale, lease or other trar~sfer of any kind or nature of
the mortgaged property, or any p~rt thereof, without the
prior written consent of the Mortgagee;
~ae Mortgagee's failure to exercise any of its rights hereunder shall
n~t constitute a waiver thereof. All tbe events in this Paragrapb enum-
erated upon the har_~ning of any of which the Yote sball become, or may
~e declared to be, i~mediately due and payable, are in this Mortgage
called "events of default". `
_ ~
12. The I~Iortgadee may from time to time cure each default under any
~~venant or agree~ent in any instrument creating a lien upon~the ~ort-
~aged property, or any part thereof, which shall bave priority over the •
~ien of this Mortigage, to such extent as the Mortgagee may exclusively
~etermine, and each amount paid (if any) by the Mortgagee to cure any
such default s~iall be paid by ti~e Mortgagor to the Mortgagee; and the
:~rtgagee shal~ also become-subrogated to whatever rights the holder of
tre prior,lien might 'nave under such in~trument. ~
13. (a) After tbe happening of any default hereunder, the Mort-
~~~or shall upon deciand of tha Mortgagee surrender possession of the
~~rtgaged property ~o the Mo.rtgagee, and the Mortgagee nay-enter such .
; ~roperty, and 2et the sa:e a~d collect aZl the rents therefro~ which
I zre due or to become due, and apply the same, after pa~ment of all charges
~ and expensas, on account o~ the indebtedness hereby secured, and all sucb
~ ~ents a~~ all leases existing at the time o~ sucb default are hereby _
~ Gssigned ~a t'ne ~~ortgagee as further security for the payment of the
~n3ebtedness secured hereby; and tihe Mortgagee may~also dispossess, by
~^ae usual summary proceedings, any tenant defaulting in the paymeut of
any rent to the ~tortgagee. -
(b} In tne event that the Mortgagor occupies the nortgaged pro-
.~rty ~r af,v Nart thereo~ the Mortgagar agrees to surrender possess=on
~ suc'.: ~ ~operty to t'ne N:ortgagee ic~.~nediately after any such defa~alt
~ ~:ereunder, anc ii the :~iortgaoor remains in possessian after such default,
~~.~ch p~ssession snall be as a~tenant of the Mortgagee, and ~he 1Kortgagor
~ ~~-:a~1 :a~ ~.n a3vance, upon demand by the Mortgagee, as a reasonable monthiy
~ -~~r~al ~or tr,e pre~ises accupied by the ~iortgagor, an amount at least.
~-:::~va~ert to orle-twelfth of-the aggregate of the twelve montinly install- _
:~~r.ts ~.ayab~e in t:,e current calendar year, plus the actual a.mour.t of the
~::.1ti81 ~~OUYI~ r~r,~, li Bri~T, t3XE8~ asse~snents, water rates, other gOV-
~rr.:~ent21 cY,a~ocs, and irlsurance uremiums payable in connection wit:~ the
~:::,rt~aged pro~erty during sucn year, and upon the tai~ure of t:~e Moi•t-
~agor to :ay such ~onthly rental, the Mortgagor may.also be dispassessed
~y th~ ~s~~}, s~~~~•~ roceedi ngs ap~jl~c~~ to t,~n_~,nts. This covenant
gpp~ ~ 600K PAGE d~