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1t tl?e tt?txl of tlu~ ~?a~~m~~nt, ma~lr 1?~~ tlu• \lurt~a~,ry~r iui~irr ~Kl uf ~~ar~~re~?h pn~rr~liu~; ,hall t•~+~r~•~)
thc NIIlOi1tU uf px~•tn~~ut~ a~•hiuU~~ mn~l~• thr ~turta~~~r, t~?r rn~un~l r~~nt.. tax~~s an~i H•:~:~y~u~~nt.. an~l in,ur-
an~r premi~i~us, t~ tl~e ra,r ~un~~~ IK~, siu•h ~•x~•~~:..hall h~~ rr~~~lit~~:) ~~~i .ul~..•yurnt p~~-uu~nt~ to h~~ mn~ir 1?r tl?~
\tort},~~,n?r f~~t ~u~•h it~~ni• ur.at ~luN~;H~rr's up~iou,•lu?II be r~~fun~l~vl t~? \1~~n~;~?~or. lf, hoHr~•~~r.•u~•h munthl~
~a~m~~nt. ,1~:?ll nut L~~ suf]iri~~~u t~? pti~~ •urli itru~s wlirn th~~ •~unr •he?l) h~~rum~ ~lu~~ etnd pz~~•t~~lr. th~~n ~ti~~
~1ort~;:?~?ur clu~ll pa~• to tiu• \l~~rt~;,?~;~~r ,?n~• ,?mount nr~•~~~:,?r~• to mak~~ up th~• ~Irfi~i~~nr~~. ~u~•h pt?~•nu~nt sl~~ll
b~• mHd~• ~~•ithiu thirt~ t:t01 ~lu~~s ,ift~~r N•ntt~~u noti~•r fmm t~ir ~lurt~u~~•r .ttitinr ~h~~ unwunt ~~f thr ~Irfi~~i~~ny.
H•hicl? uotir~~ ma~ bi~ ~iv~~n b~• nu?il. 1f e?t an~• tinir th~~ ~1~?rt~:~;~~r .hall ~~•n~i~~r ta thr ~iort~~?r~~ in a~~e•oni-
a~,ce Hiti? th~~ pmvi.iun. of thr nut~~.~~•ur~vl I~rrri?~•, full pa~•m~~nt uf 11~~~ ~~ntir~~ in~l~~ht~~~tn~~.~ mpr~~~~nt~~l th~•r~•by.
th~~ ~1~~rt~;i~rc~ shall, iu c~~mputinr th~• anu?unt of such indrbt~~~in~•`•, ~•r~•dit t~~ tlu• uc~•~~uut ~?f ti~~• ~1~~rt~;u~ur:?n~•
~•r~~ci~t. balxnr~~ r~~n~ai~~in~: und~~r tlu~ pm~-i~iuns ~~f (a? of s:~id pKr~?hrn?pli I( th~•r~ sli:~ll br ri~I~~[~~ult undrr ,?n~
uf th~~ pro~•i.i~~us ~?f this ~u+?rt~;:~~~~ rr.ulting in a puhlir sui~~ ~?f th~• pr~~ii~i:~•. r~?~•rr~yl hrrrt>~•. or i( tl?~~ \lortga~.,~c~
xcquir~r th~ pmp~~rt~• othe•rw•i~~ ttlte~r drte~ult. tlu~ ~t~~rt~;,?~;~~~~ .I?~ll uppl~•. ~u tlu• tiuir ~?t lh~~ ~•atnm~•nrrmrnt
of ~uc•l? pr~•~•~~1iuK. ~~r :it th~~ tim~~ ttu~ pr~~ tC~~ i. ~~thrn~•i•~• arquir~~~1. thr umuunt thrn r~~inxiniu~• to rr~tiiit of
\lortr,?~;or un~lc~r (e?1 ll{ ~NI'11~Pi1~I1 pr~~~•t~in~; p.c cn~it an th~• intrr~~st Hrrrued and unpaid un~~ tiu~ bnlance
t~? th~• principal t}it~n r~•ui:~inin~? unpi~id ~~n ,e?id u~~t~•.
4. He will pay all taxes, ass~smente~ water tate8, and ottter-governmental or municipal chargES, finea, or
impositions, for which pro~~ision has not been msde hereinbefore, and in default Lhereof the Mottgagee may p~?y the
same; and that he will promptly deliver the official reoeiptA therefor to the 114ortgagee.
5. He azll permit~ commit, or su~er no waste, impairment, or deterioration of swd property pr~~{~~.p~t thereof~
except masonable Aear and tear; and in the event of the failure of the riortgagor to ~eep tM! ~~ti' h1i~e on said
premises and those to be erected on said premises, or improvements thereon, in good repair, the Tiortgugee may
mak~ Such repairs ea in its discretion it ma3 deem nec~asary for the proper pmservation thereof, sndZh~~ fttll amount
of each and ever~ auch pa~•ment~ shall be due and payable thirty (.30) days after demsnd, and shall be eecured by
the lien of this mortgage.
6. He will pa~• all and singular the costs, charges, and expenses, including rea~onable lawyer's feee, and coata
of abstracts of title, incurred or paid at any time by the hiortgagee because of the failure on the part of the 11Sortgagor
prompth• and full. to perform the agreements and covenants of said promissory note and thia mortgage, and said
costs, charges, and expenses shall be immeciiately due and ps~•able and shall be eecured b~• t6e lien of tdis morigage.
7_ He will c~ontinuously maintsin hazard insurance, of such type or tvpes and amounts as :~iortgagee may
fn~m time to time require, on the improvements now or hereafter on said premises, and e.~cept when payment
!or all such premiums has theretofore been made under (a) of paragraph 2 hereof, he v~ill pay promptly v~hen
due an~ premiunis therefor. All insurance shall be carrieli in rnmpacues approved by 111ortgegee and the poli-
cies and rnnewals thereof shall be held bv ~lortgagee and have ettached thereto loss pa~able clauses in favor of
and in form acceptable to the ~iortga~ee. In e~ ent of loss he w-ill give immediate notice bv mail to 1liortgagee,
; and ~iortgagee ma~ make pmof oi ioss if not made promptl~ by ~iortgagor, and each insurance company
~ ooncerned is hemb~ autharized and directed to make pa~ment. for such loss directl~ to ~tortgagee instead of
` to tiiortgagor and ~lortgagee jointl~, and the insurance pmceeds, or eny part thereof, mav be applied bp Mor~
gagee at its option either to the rec~uction of the indebtedness hereby secured or to the restoration or repair of
the pmperty dama~ed. In e~ ent of foreclosure of this mortgage or other transfer of title to the mortgaged
propert~ in extinguishment of the indebtedneas secured hereby, a~l right, title, and intetest of the blortgagor
m and to anv insurance policies then in force shall pass to the purchaser or grantee.
i
; 8. The ~lortgagee may, at any time pending a suit upon this mortgage; apply to the court having jurisdiction
thereof for the appointment of a recei~er, and such court shall forthwith appoint a receiver of t6e premiaes oovered
; hereb~• all and singular, including all and singular the income, pro6ts, issues, and re~ enues from whatever source
~ deriyed, each and ever~ of Rhich, it being expmssjy understood, is hereby mortgageci as if speciScallp set forth and
~ deecribed in the granting and habendum cla~ses hereof. Such appointment shall be made by such oourt as an admitted
~ equity and a matter of absotute right to said hiortgagee, and a-ithout reference to the adequacy or inadequacy of
" the ~•slue of the propert~ mortgaged or to the soh•enc~• or insolvency of said :~iortgagor or t~e defendants. Such
4 mnts, profits, income, issues, and mvenues shall be applied b~• such receiver accortiing to the lien of this mortgage
and the practice of such court. In the event of an~ default on the part of the liortgagor hemunder, the hiortgagor
; agrec~s to pxy to the liortgagee on demand as a reasonable monthl~ rental for the premises an amount at least
~ equi~alent to one-taelfth (~2) of the aggregate of the twelve monthly installmenta paSsble in the then current
* year plus the actual amount of the annual taxes, assessments, ~ater rates, and insurance premiums for such year
~ not co~ered b~ the aforesaid monthly pa~•ments.
~ 9. In the e~ent of an~• bmach of this mortgage or default on Lhe part of t.he ~liortgagor, or in the e~ent that
any of said sums of mone~ herein referred to be not prom~t~r-and fully paid accordin~ to the tenor hereof, or in the
F~ event that each and e~•er~ the stipulations, agreements, conditions, and co~~enants of said note and this mortgage,
~ are not duly, promptly, and fully performed; then in either or an~• such e~•ent, the said aggmgate sum mentioned
in said note then remaining unpaid, with interest acerued to that time, and all moneys eecured hereb~, shall become
~ due and pa}able forthRith, or thereafter, at the option of said ~lortgagee, as fully and completely~as if all of the
ssid sums of mone~- v~ere originally stipulated to be paid on such da}•, an~~thing in said note or in this mortgage to
_ the contran• nota-ithstanding; and thereupon or thereafter, at the option of said ~iortgagee, without notice or
~ demand, suit at law or in equity, may be prosecuted as if all mone~~s secured hereb~• had matured prior to it8 institu-
tion. The 1lortgagee may foreclose this mortgage, as to the amount so declared due and pa3able, and the said
premisea shall be sold to sat~sfy and pa~• the same together with co~ts, expenaes, and allowances. In case of partial
=r foreclosure of this mortgage, the mortgaged premises shall be eold subject to the continuing lien of this mortgage
- for the amount of the debt not then due and unpaid. In such csee the pro~-isions of this paragraph ma~ agsin be
- a~ailed of thereafter from time to time b~- the ~iortgagee.
'r=; 10. No waiver of any oovenant herein or of the obligation secured hereb~• shall at an~- time thereafter be held
r to be a~aiver of t6e terma hereof or of the note secured hereby.
I1. The lien of this inatrument ehall mmain in full force and ePfect during any poatponement or extension of
~ the time of pay-ment of the indebtedneas or any part thereof secured hereby.
_ . 12. If the 1liortgagor default in any of the covenante or agreements contained herein, or in esid note, then the
Mortgagee mey perform the same, and all expenditures (including reasonable attomey's fees) made by the Mortga~ee
in so doing shall draw• interest at the rate pro~•idcd for in the principal indebtedness, and shall be mpa~able
- thirt~ (30) da~-s after demand, and, together witti inter~st and costs accrued tl~ereon, sLell be secured by
= this mortgage.
13. L'pon the request of the ~iortgagee the ~iortgagor shall execute and deliver a sup},lemental note or
= notes for the sum or sums acl~-anced by the ~tortgagee for the alteration, mo~lernization, improvement, main-
tenance, or repair of said premises, for tsxes or as.~essmeijts against the same and for en~• other purpose author-
: ized hereunder. Said note or notes shall be secured hereb~• on a parit~• K ith and as full}• as if the ad~ ance
- e~ idenced thereb~ w ere included in the note first described abo~e. Said s~ipplemental not,e or notes sliall bear
interest at the race pm~•ided for in the principal indebtedness and shall be pa~•able in appro~imately equal
- monthl~ pa~•ments for such period as may be agreed upon b~ the creditor and debtor. Failing to agree on the
maturit~, t~ie w6ole of the sum or sums so advanced shall be due and pa~•able thirt~~ (30) da~s after demand
b~- t6e creditor. In no e~ent shall the maturity eatend beyond the ultimate raaturit}' of the note first
described abo~e.
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