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ten~l~~r to ti~~ AlortKu~;er in accorclancv with the ~I'OVl$WIIR O~ IIIP IIOIP a~•cur~~d~hereb~•, full pa~•ment of tl~e
entirn indeM~dneas rnpn~sent~~d tl?ereL?•~,tl?e Mortgagco, ax truate~, shsll, in cowputin~ tl« an?ount uf such
indebtMlneas, ercKlit to the account o~ tl~e rtortgeKor an~ ctedit t~~lsnce remaining ~uider th~ pro~•isions ot (a)
of said paragrapli 2. If thrrn shall bc~ s ciefault uncMr an~• of tlte provisions of Ihis ~~?orlgu~~ rnsultinR in a
public salc+ ot !h~ prnmis~•s coverPd hereb~, or if the Mortgag~~e acquirc~x the propert~• otherwise a~ter defauit,
tl~e ~lottga~;et>, ua trust~~e, ahsll appl~ ~ at the tinte of thP rou~~nencen~ent o( sucl~ proceedi~~~,?e or at ti~e tim~
the propert~• is otherHis~ a~•quirnd, the amount then rnmainin~ to credit of MortgaE,ror und~r (a) of para~raph 2
precediag as s crnclit on th~ iritPrnat accrued and unpaid and tl,e balan~e to thc~ principsl then rnmaininR unpaicl
on Reid not~.
4. He wiU psy a11 tasee, aeeeesments, wster rstes, snd other governmental or municipal chsrgee, Snes, or
impoeitione, for ~vhich provisian hae not beea made hereinbefore~ and in default thereoi the Mortga~ae msy psy t,he
eame; ~?nd that he will promptly deliver the officiai reoeipt~ therctor to the Mortgagee.
b. He will permit, oommit~ or ~er no waete, impsirment, or deterioration of esid pmperty or sny paet thereof
e~ccept reaeona?ble wear and tear; and in the eveat of the failure of the Mort~gor to keep the buildinge on eai~
premiaee aad t~oee to be er8eted on eaid prennises, or improvementa t6ereon~ in good repsir the Mortgsgee msy
make euch repairs aa in its diecretion it muy deem neoeeeary for the pmper preeervstioa thereo~, and the. full amount -
of each and every sueh {u?yment ahall be due and ps~ysble thirty (~O) dsys atter demand, and shsll be seeured by
t6e Uen of thie mortgage. ~
6. He will psy all and ~ingulsr the ooeta, ~?rge~, and eapenees, including reaaonsble lawyer'e fees, and ooete ~
of abstracts of tatle, incurred or paid at any time by~~ the Mortgagee becsuee of the fsilure on the psrt ot the Mortgagor
promptly and ful~j? to pedorm the agreementa and oovenants of aaid promieeory note and thia mortgage~ and said
oosts, charges, and expenaes ahall be immediate~y due and payabte and shall be eecured by the IIen oi tbia mortgage.
7. He will oontinuously maintain 6aaard insurance, of auch type or types and smounte as Mortgagee ma
trom time to time require~ on the improvemente now or heresfter on said premises and eaoept when psqment
tor all such premiums hea theretofore been msde under (s) oi psragcaph 2 hereof ~e will psy promptly when
due any premiums therefor. All insurance ahall be carried in oompaniee spprove,~ by 11~ortgsgee and tbe po4-
cies and renev?sls thereof shall bo hetd by Mortgagee and have attached thereto loes psyable clsuses in favor ot
and in tocm acceptable to the 114ortgagee. In event oi loss he will give immediste notice by mail to Mortgagee,
and ~lortgagee may make proof of Ioss if not made promptly by Mortgsg~or, and each inaurance oompany
ooncerned ~s hereby authorized and directed to meke payment tor such lo~e direcWy to Mort~
ee instead of
to tilortgagor and l~iortgagee 'ointiy , and the insvrance proceeds, or an,y part thereof, msy be app7ied by Morw
gagee at its option either to t~e reduction of the indebtednees hereby eecured or to the restoratton or repair of
the property dama~ed. In event of foreclosure of thia mortgage or other transfer of title to the mortgaged ~
property in extinguishment of the indebtedneea secured hereby, aft right, title. and interest ot the Mortgagor
m and to sav insurance policies then in force shalI pnsa to t,he purchasar or grantee.
lf Ih~• pr~•mi•ih, or iin}- ptirt th~~rc~of, lx~ conele~?~u~c1 un~l~r ih~ poH~r of ei~~inent~ don~ain, or acquir~d for
a publi~• u~~~. th~ ~laiuHK~•. n~~•ard~d. th~~ pm~~e~•clc for Ihe takinK of. or the ~onsideration for ~~•h acquisition, to
tht~ c•rtent ~~f tlir full :?n?otmt of th~• r~~maininK ~upai~l indclitednras se~ured br this moTtga~;~~, ar~~ h~•r~•b~-
us.iku~~~l to th~• ~lortg»~;~~~. an~l I~is I~rits or u.csiKns, Uu~l siieil tx~ puid torthw•itl~ to said \lort~s~e~c~ or liis
,~.,signi~c to IN~ H~?pli~•c) oit ac~•ount of ihe~ l~st ~uaturin~ n~stalLnents of such indebtcd~~ess; pm~i~led, however,
th~~ ~tort~?:~K~r or h4c :~.~Si~;n~e, ~nu~- t~t his disc•retion pa~• din~~t tn tlu• ~Iortg~~or, his heirs or ussigus a~~~• pi?rt
or all u(.u~•li ~~~~-~r~l; pm~ul~•d, thut if thi• lo:~n is ~uarante~~d or insured, tl~e ennseut of ti~e gusrautor or insur~r
is o!?tuiui~d in ad~•anc•~ o[ sai~l pa~•ni~nt.
y. The l~iortgagee may~ at any time pending a suit upon this mortgage, apply to the ooart having juriadiction
thereof for the appointment of a reoeiver~ and such oourt ahall forthwitb appoint s receiver of the premises mvered
hereb~ sll arid singular, including all and singular the income, proSts~ issuea, and revennes from whatever eource
deri~•ed, each and e~ ery of which, it being expressly understood, is hereby mortgaged sa if specifically eet forth and
described in the granting and habendum clausea hereof. Such appointment shaU be made by sttch c~outt ss an admitted
equity and a matter of sbsolnte rig6t Lo said Mortgagee, and without reference to the adequacy or inadequacy of
the ~ alue of the property mortgaged or to t6e solvency or inaolvency of said Mortgagor or t~e. defendanta. $uch
rents, pro6ts, income, issues, and revenues shall be appliecl by such reoeiver according to the tien of th;a ~G
and the practice of suc6 court. In the event of any defanlt on the part of the Mortgagor herEUnder, the Mortgagor
agrees to pay to the 4lortgagee on demand as a reasonable montWy rental for the premiees an amount at least
equi<<alent to one-twelith (yf Z) of the aggregate of the twelve monthly installments payable in the then current
y ear plus the actusl amount of t6e annual taxes~ sssessments, water rates, and insurance premiums for such year
not co~ered by the aforesaid monthly payments.
1~?. In the event of any breach of this mortgage or default on the part of the Mortgsgor, or in the event that
any of said sums of money herein tefen~ed Lo be not promptly and fully paid nccording to the tenor hereof, or in the
event that each and every the stipulations, agreements, conditione, and covenants of said note and this mortgage,
are not duly~ promptly~ and fully per[ormeci; then in either or any such event, the said aggre~ate sum mentioned
in said note then remaining unpaid, with interest accraed to that time, and all moneys aecured heceb~; shall beeome
due and pa~~able forthwith, or thereafter, at the option of said Mortgagee, as fully and completely as ii atl of t6e
said sums ot mone~• were originally stipulated to be paid on such day~ anyLhing in said note or in this mortgage to
the contrary notaithstanding; and thereupon or themafter, at the option of ssid i4tortgagee, without notice or
demand, suit at !aR or in equity, may be prosecuted as if a!1 moneys eecured hereby had matured prior to its institu-
tion. The ~iortgagee may foreclose this mortgage, as to the amount so declared due and pa}able~ and the se?id
premises shall be sold to satisfy and pay the same together with costs, expenses, and aUowances. In csae of partial
foreclosure of this mortgage, the mortgageci premises ahall be sotd subject to the cantinuing Uen of this mortgage
for the amount of the debt not then due and unpaid. In suc6 ca~e the provisiona of this paragraph may again be
availed of thereafter from time to time by the ~'Iortgagee.
11. I~'o waiver of any covenant 6erein or of the obligation aecured her~b~ shall at any time thereafter be held
to be a waiver of the terma 6ereof or of the note eecured hereby.
1'L. The lien of thia inatnunent ahall remain in full force and effect during any p~tponement or extension of
the time of pe?yment of the indebte~ineae or any part thereaf eecured hereby.
~~s. If t6e Mortgagor default in aay of the covenanta or agreements concained herein, or in said noGe~ then the
Mortgagee may perform ihe same, and all expenditwes (inclucfing reasonable attoroey'e iees) made by the Mortgsaee
in xo doinR shall draw interest at the rate provid~d tor in the principal indebtr~lness, and ahall bc~ rnpa~•able
tl~irt~• (30) da}•s after Jemand, and~ toget6er will~ inter~~st and costa accrued tl~ereon, sl~atl be secun~l by
t6is mortgage.
14. L'~?on the reyuE~at of ttie ~iort~agee the ~iortga~or ahstl execute and ci~liver a suppl~~ritcntal note or
notc~a for tt~e aum or sams ailti•anced by tbe ~lort.~8~;ce for che al~~~ration, modernizatio~l, itnpro~•emrn~, main-
t~nnnce, or rrpair ut said prrmi~~s, tor tsxrs or aF.~~~n~~nts aKainwt the same an~l for at?y other purpose a~ithor-
izeJ hereunder. 5ai~l note or not~~x xhaU I,e secured I~ereby on a parity wit6 anJ as fully as if ll~e ad~•~nee
e~•idenred tt~ereby were inr.luded in the note firet described at~ove. ~aid suppl~~m~nte) not~e o~ notra shall t,ear
int,erest at the rste. pmvidcd tor in the principal inJebtedneas and sl?all be psvable in t?pprocimat~l~ c~qual
monthly pa)•mrnts tvr euch peria) eus may be s~reed upon by tho creditor and drl;tor. l~'sility~ to s~;nK* on the
maturily, tt~e wliule ~~t the sum nr eurne xo adven~•c~l shell be duc and pa}•eble thirly (30) dats attcr drmar~ci
t,y tt~e cr~•~litor. !n nu event ghall the maturity extetid t~eyone! t,ho ulti~nate r.~e~turity oi Lbr n~tP tint
descrit,ed at,ove.
800K PACE 604
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