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t~~nder to the 1?1ort}~uget~ ih b~•~•or~le?n~•~• K•ith ihe pm~•isio~~s i~f Ihi~ not~• .~~~•ured lu~r~~l?~-. full pa~~uu~m of Ih~~
etNire indeblecin~•s.~ reprt~xent~~~1 th~~rebr, lhe 1rlortKe?~~~e, aii trust~~~~. shHll. in ~~?inputii~~ th~• unu~uut ot sucl~ ~
indebtedn~.g~ c•r~lit to tl~~ u~•i•ouni o( t~u~ I~1ort~nKor an~• credit balunc~ n~n~aiui~~~ ~nul~~r Ih~• prnrision~ of (s)
of said paragraph 2. lt th~rn shall lK~ a drfnutt ~~~~i~r a~?.- ~r ~i?~~ pro~•iyi~~is of ihis n~ortKay~~• ri•:~ullin}~ in u
public salc+ of the pre~ni~~~s co~er~d hereby, or if th~ I1lortga~~•~ ac~qu~re,~ tl~e pm~x•n~• oth~~rw•?.~• eft~•r d~fault, ~
the 111oMKa~~r~ ss trust~•~, shall appl~•, at ti~e time of th~ ~~onuuen~•~~inent of sucl~ prcN•~~Mlin~ ar at tlie tiin~•
the pro}x•rtr is otl~er~~i~ a~~yuired, the amount then rnmainin~ to ~~reitil of \iort~a~?or uud~•r (a) of par~raph 2
prneedinK aa a~•trdit on th~ inter~~~t accrucKl snd unpaid and ttl~ balam•~• to th~ principal th~~n remainin~ unpaid
an said not~~.
4. Ha will pay all Laxee, ,u~eeements~ wster rstee, ewd ot6er governmental or municipal char~, fines, or
impositione, for which proviaion haa not been made hereinbefore~ aad in default thereo~f tbe Mortg~agee m~y pi?y the
eame; and t6at he will promptly deliver the o~eial reoeipte therefor to the Mortg~+gee.
5. He will permit~ oommit~ or sutter no wsete~ impairment~ or deterioration of said property or sn part thereof,
e~ccept rnaeonable we~r and tear; and in the evenL of the fsilure ot the Mortgagor to keep t6e~ b~ on eaid
premiees and thaee to be erected on eaid premieee, or improveanente thereoa, in good repur tbe Mort~ee msy
make such repaii8 as in ite diecretion it msy deem neceeeary for tt?e proper preaervstion thereo~, aAd tbe full aanount
of each and Pvery such payment ahall be due and paysble thirty (30) dsys atter demaad, and shsll be secured by
the Gea of this mortgage.
6. He will pay all and ainguler t6e c~te, chsrgea, sad ezpeneea, including reaeonsble lawyer's fees, and ooata
of abstracta of title, incurred or psid at any time by the Mortgsgee becsuee of the failure oa t6e part of t6e Mort6agor
promptly and fully to periorcn the agreements and oovensnts of esid promieeory note and thia mortg,age, and said
oosta, chargee, and expensea aha11 be immediateUr, due sad payable and shall be sec~u+ed by the liea of t6is mortgsge.
7. He will oontinuous~y maintain hazard ins'~ance, of auch type or types snd amounta as Mortgagee msy
from time to time require~ on the unprovemeut~now or hereafter on said premise~s and eacept when paymeat
tor all such premiums has theretofore been me~de under (s) of psragrs~h 2 hereof 'he will pay prompt]y when
due any premiums thcrefor. All insurance ahall be carried in oompames appmve~ by I11ort~aqee and the poli-
cies and renew als thereof shall be held bp Mortgagee and have sttached theeeto loea payable-c4ueee in iavo~ of
and in focm acceptable to t6e 11Tortgagee. . In event of loss he wil! give immediate aotioe by mail to Mortgagee,
and ~iortgagee may make prooi of Ioss if not made promptly by Mortgagor~ and each inauranoe eompany
ooncecned is hereby authorized and directed to make payment for such lo~a dic~ectly to Mort~aRee instesd of
to \fortgagor and Asortgagee ointly , and the insurance proceeds, or any part thereof~ may be applied by Morw
gagee at its option either to t~e reductioa oi the indebtednesa hereby eecured or to the restorataon or repair of
the property dama&ed. In event of forecloaure of this mortgage or other transfer of title to the mortgaged
propertv in extingwshment oi the indebtedaesa eecured hereby~ a~l right, title, and interest oi the Mortgagor
m and to any insucence policies then in force ahall pasa to the purchaser or grantee. _ ~
ti. If th~~ pr~•~ni~~r, or an~- part th~~rnof. ix• ~an~l~~mni•d under Ih~ poH~r of etnin~nt domain, or a~yuir~d f~?r s
~ p~~bli~~ i~se, ih~• dun~uKi~s a~~•ard~•~I. th~~ pm~~~i•ds for th~• takink of. or thc~ cc?nsid~ration for sui•1~ ac•quisitinn. t~~ t
th~ rxtent of the full ~unount of tlu• r~~nwinink unpui~l ind~bt~~dne~cs s~ti•un~d b~• this iuort~;a~~•, arn h~r~•b~-
~i.si~?n~~~1 to th~~ ~IortKA{:~•~~. und hi. hcits or e~si~;ns, :in~l shull 1?c••pai~l forthHith to ~ui~l \1ort~a;;~~~ or hi~
as,.iKne~~ to lx• appli~•~1 oii a~•i•ount o( thi~ lust maturiuK installmt~nts of su~l? indehtrcin~~ss: pmrideci. l~ow-~~e~r,
th~• ~lort~;~~r~~ or h~, a.cSiKnt•r. ~na~- vt liia dis~~r~~tion dir~~~•t to tL~ `Iort~a~;or, l?i5 h~ir~ or aasi~ns an~- part
or all o( su~~h ~~~~•ard: pm~ id~~d, thut if th~ lo:u~ ~c ~uarunl~~~~~1 or insur~~d, the ro~tsrut o( the guatantor or insurc~r t
i• obtaiur~l in ad~•ance~ of said pa~•nu~nt.
The Mortgagee may, at any time pending a suit upon this mortgage, apply to the oourt hsving jurisdiction ~
thereof for the appointment of a receiver, and such court s6sll fort6with appoint a receiver of t6e premises oovered ~
herebS all arid singular, including all and singular the income, profits, issues, and revenues from whatever souroe '
deri~ed, each and every of which, it being expressly understood~ ia her~by mortgaged as if apecifically eeL fort6 and
described in the granting and hab~udum clauses hereof. Such appointment shall be made by such oourt aa sn admitted
equit~ and a matter of absolute right to said Mortgagee, and without reference to t6e adequacy or inadequacy of
the ~•slue of the propertS• mortgaged or to the solvency or inaolvency of said Mortgagor or t!~e defendanta. Such
rents, profits, income, issues, and revenues shall be applied by such reoeiver socording to the lien of this mortgage
~ and the practice of such court. In the event of any default on the part of the Mortgagor hereunder~ the 1liortgagor
i agrees to pay to the :~iortgagee on demand as a reasonable monthly rental for the pr~mises an amount at least
equi~alent to one-twelfth (~Z) of the aggregate_of the twelye monthly installments pa~able in the then curr~nt ~
~ y ear plus the actual amount of the annual taxes, ass~sments, water ratea, and insurance premiums for such yeat
~ not covered by the aforesaid monthly payments.
l l?. In the event of any breach of this mortgage or default on the part of the Mortgagor, or in the event t6at
s any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the
~ event that each and e~ery the stipulations, agreements, conditions, and oo~enants of said note and t6is mortgage,
are not duly, promptly, and fully performed; then in either or an~ such event, the said aggregate Bum mentioned
in said note then mmaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become
due and pa~ able forthwith, or thereafter, at the option of said biortgagee, as fully and completely as if all of the -
said sums of mone~ were originally stipulated to be paid on such da~, anyLhing in said note or in this mortgage to
the contrar~• notwithstanding; and thereupon or themafter~ at the option of said 2liortgagee~ vPithout notice or
demand, suit at law or in equity~ may be prosecuted as if all moneya secured hemby hacl matured prior to its institu-
tion. The \lortgagee may foreelose this mortgage, as to the amount eo declated due and pa3•able. and the said ~
premises shall be sold to satisfy and pa}~ the same together aith costs, expenses, and allpwances. In case of partial
foreclosure of this mortgage, the mortgagecl pmmises shall be sold subject to the continuing lien of this mortgage ?
for the amoune of the debt not then due and unpaid. In such case the pro~-isions of this paragraph ma~ again be '
availed of thereafter from time to time by the ~1lortgagee.
1 1. No waiver of any covenant 6erein or of the obligation secured hereb~• shaU at anS• time thereafter be held
to be a waiver of the terms hereof or of the note eecured hereby.
.
b 1''. The lien of thia insttument ahall mmain in full force and etfect during an~• poatponemeot or extension of =
~ the time of pa~•ment of the indebtedness or any part thereof eecured hereby. _ .
1:t- If the :~iortgagor default in any of the covenanta or agreementa contsined herein, or in aeid note, then the !
Mortgagee ~nap perform the same, and all expenditures (including masonable attomey's fecs) made by the Atortga~ee
in so doinK shell draw• int~r~st at the rate prori~l~~d for in th~~ ~inuci~II) ind~~bt~dn~~ss, and shall tM n•pa~•able
tt,irt~- (30~ ~Ia~•s a(ter drtnand, and, together wilh inten~st and custs accrueJ thereon. sliall lx~ s.Y•unYl b~
this mortgage.
14. l; Ex,n the requ~w~ of the ~1ort~?agee the Mort~aKor shall e~e~cute and deliver a sup~~l~•mental note or ~
noteR fur the sum or xums a~l~~an~•ed by ttic \tort~a~.;~~e for the elt~~ration, mod~~rnization, impm~t•nu~nt, main-
t~•uan~~~•, or r~•pair ot sai~l premis~•s, for tax~•s or a~.~~~~.~rn~•nts a~;ainst thN san~e AIIII ~/?i Rilf OlI1Pr pur~K?,r autlior-
izrd hcreund~~r. ~aid not,e or notc~ ahsl) be wNVred h~reb~• on a paritti with anJ as fulh• a.4 if the advance
` r.~•iden~ed therel,~• w•ere inr.lud~•d in lhe note firqt d~~•ril,ed al~o~•~. tiei~l ciippl~~~ne~ntal not~~ or not~~ si~all bear
~ intereat, al, tbe rate pro~•id~•J tor in the princ•ipal indet~tc~ciu~~:ca and al~all I~e j~s~•abl~~ in sp proximatrl~• ~r~uRl
rnonthly ~,a~•rn~•nta tor such period ax tna~• be a~.?rc~ed u~xin by the ~r~~ditor snd ~lebtor. h silittK to ak~rr on thr
tnslurity, tEie w•i~ol~~ of the sutn nr xutr~s ~+r~ a~l~•am•i•~1 sl~nll b~• d~~~~ and pn~•al?le~ tliirt~• (:;I)) ~la}-~ att~~ J~•u?en~l
by the r.rr•~litor. In nu event uhall tl~c tnalurity exteuJ tN•youJ tlro utti~nat~• taawr~ty ot tl~r nat~ lint
~lc~crit,ed al,ove.
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aoo~195 PAfi1046 a~~~ 194 fi45 ~
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