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lender to t~~e :~iurtgagee in e?rcordan~•~ v?ith tlie pro~ isioas of tl~e noth secured lu~rc~b~•, tul) p~~•i~~et~t o[ t}u~
entire it?debtedness reprrsented tt~erebt•, ttie Aiortgagee, as trustee, shall, in computiiiK th~~ aniuunt of sucl~
indebtednese, credit to tLe eccount ot t~~e ~iortgagor an~• credit balance rnn~aini~?g uu~l~~r the pro~•isions ot (u)
o~ said paragraph 2. l~ there shall be a detault under any of U~e pro~isions of tt?is uiort~age rnsuiting in a
public sale of the pren~ises covered hereb~, or if the Mortgagre acqu~res the propert~~ otherHGSe att~r default, ;
the Mortgagee~ as trustee, shall apph~, at the tu~ie of the coutmencement o( such proceedings or n1 the tii~u~ ?
the propert~ ia otherwise acquired, the aniount then rnmsinin~ to credit o~ 111ortgagor under (a) o( parx~raph 2 '
preceding aa a ctedit on the interest accrued and unpaid and t e baiance to ti~e principal t1~en rnmainiu~ unpsic)
on said note.
4. He will psy atl tauea aeeeesments, wster rstes~ aad other governmental or municip~al eharges, Snee„ or `
impoeitione, for which proviaion hse not 6eeu made hereinbefore, e?nd in defsult thereof the Mortgagee may pe?y the '
esme; and t6st he will promptty deliver the o~cial reoeipt~ therefor to the hlortgagee.
b. He will permit, oommit, or suger no waste, impairment~ or deteiioration of said property or any thereof~
eaccept ressonable wear and teaur; and ia the event of tt?e failure oi the Mortgagor to keep the buildia~~a on said
premises and tboea to be erected on said p~remisea or improvements thereon~ in good repair, the Mortgagee may
make auch repaire ae iu ite diecretion it may deem neoeaeary for the pmper preeervation thereof~ and the tult aanount
of each an~i every such payment s6~it ~be due, aad psyable thirty (30) daye sfter demand, sad eha11 be eecwred by
the lien of this mortg,age.
6. He will pay all and eingular the oo~te, c6argea, end erpeneea, including reasonsble 18wyer's fees, end ooete
of abstr~cte of title, incurred or paid at aoy time by the Mortgagee because of the failwe on the part of the Mortgagor
prompLly and fully to perform tbe agreementa and oovenanta of eaid promieeory note and this mortgage~ and eaid
costa, charges, and expen~ea shal! be immediately due snd pqyable and s6all be eecured by t6e lien of this mortgage.
7. He will oontinuously maintain he~zard inauranoe, of sucL type or typee and amounts ss Mortgagee may
trom time to time require, on the improvemanta now or hereafter on said premises and except when payment
!or all such premiums has ther~tofore been made under (a) of paragraph 2 Lereof ~e will pay promptly when
due any premiums thcrefor. All insurance shaU be carried ia compstue~ appmve~ by 111ortgagee and the poli-
cies and renewals thereoi shall be heid by Mortgagee and have sttached thereto losa payable clauses in favor of
and in form acceptable to the Mortgagee. . In event of loss he wilt give immediate notioe by mail to Mortgsgee,
and tiortgagee may mske proof-of Ioss if not made pmmptly by Mortgagor, and each insurance oompany
ooncerned is hereby~ authorized and directed to make payment for such losa directly to Mort~a~ee instead of
to Mortgagor and Mortgagee jointly~ and tbe insurance pmceeds~ or any psrt thereof, may be applied•by Mort-
gagee at its opt~ion either to the reduction of the indebtedneas hereby secured or to the restoration or repair of
the propertp damaped. In event of foreclosure of this mortgage or other transfer of title to the mortgaged
proQerty in extingu?shment of the indebtedneea secured hereby, a~l right, title, and interest of the Mortgagor
m and to any insurance policies then in force shall Q+iss to t,he purchasac or grantee.
R. I[ the premise~, or an~• part tl?erno(, be cunden~ned undcr the pow•er of e~ninent doni~in, or acquir~~~! for
a public use, the daina~es av?arded, the proceeds for the taking of, or the eonsideration for sucl~ acquisition, to
the ~xtent of tl~e fnll amount of the remaining unpaid inclebtedness seeured b~- this iuort~age, are hc~r~~b~-
a~4i~ied to the ~tortgagee, nnd his liei~s or assigns, and shall be paid forthNith to said \Iortgag~~~ or 1?is
assignee to l~ applicd on aci•ount o( ttie last ~uaturing installu~c~?ts of suc}i indebtedness; pro~•icled, 1?ou•e~~•~r,
the ~tortgt~ee or his ossignee, ~na~- at }Tis discretion pA~• direct to the ~lortga~;or, lii~ lieirs or assigns an~- purt
or all of surh auard; pro~iclecl. that if the loan is Kuarant~ed or insured, the consent of the guarantor or insurnr
is obtained in ad~•ance o( said pa~ment.
The Mortgagee may, at any time pending a suit upon this mortgage~ apply to the court having jurisdiction
thereof for the appointment of a reoeiver, and such court shali fort6with appoint a teceiver of the premiaea covered
hereby atl aad singular, including all and singular the inoome, pro8ts, iasues, and revenues from whatever source
derive~, each and every of which, it being expresaly understood, is hereby mortgaged as if specifically ~et forth and
described in the granting and habendum clauses hereof. Such appointment shall be made by such court as an admitted
equity and a matter of absolute right to said Mortgsgee, and without reference to the adequacy or inadequscy of
the ~atue of the property mortgaged or to the solvency or insolvency of said Mortgagor or t~e defendants. Such
rents, profits. income, issues, ~d revenues shall be appliecl by such receiver acoording to the lien of this mortgage
and the practice of such oourt. In the event of any default on the part of the Mortgagor hereander~ the ~iortgagor
agrees to pay to the biortgagee on demand as a reasonable monthly rental for the premises an amount at least
equivalent Lo one-twelith (~2) of the aggregate of the twelve monthly installments payable in the then current
year plus the actual amount of the annual taxes, as~sments, water rates, and insurance premiwns for such year
not covered by the aforesaid monthly paymenta. ~
10. In the event of any breach of this mortgage or default on the part of the MorEgagor, or in the event that
any of said aums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the
event that each a~i every the atipulations, agreements, conditions, and covenants of said note and this mortgage,
~ are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned
~ in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall beoome
~ due and pa~abte forihaith~ or thereafter, st the option of said 1lortgagee, as fully and completely as if all of the
E said sums of mone~ were originally stipulated to be paid on such day, anSthing in said note or in this mortgage to
the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice or
~ demand, suit at law or in equity, may be prosecuted as if alI moneys secueed 6ereby ha.d matured prior to its institu-
s tion. The R'Iartgagee msy foreclose this mortgage, as to the amount so c~eclared due and pa~able, and the said
~ premises shs11 be sold to satisfy and pa~ the same together with costs, expenses, and allowances. In case of partial
' foreclosure of this mortgage, the morigaged premises shall be sold subject to the continuing lien of this mortgage
~ for the amount of the debt not then due and unpaid. In such case the pro~zsions of this paragraph ma~• again be
~ availed of thereafter irom time to time by the ~iortgagee.
l 1. No waiver of any covenant herein or of the obligation secured hereb~ shall at an~ timc thereafter be held
to be a waiver of the terma hereof or of t6e note secured hereby.
1''. The lien of thia instrument shall remain in iull force and effect during any postponement or extension of
the time of payment of the indebtedness or any part thereof securcd hereby. ~
1:3. If the Morigagor default in any of the covenanta or agreements contained herein, or in said note, then the
Mortgagee may pertorm the same~ and all expenditures (including reasonable attoroey'$ fees) made by the AiortgaAee
in so doing shall draH interest et the rate pm~ i~1rd (or in the principnl indebte~dn~ss, and shall bc• mpa~•ahle ~
thirt~ (30} dQ~•s atter demand, and, together witt? interest and costs acerued thereon, shall be secured by
' LLe, :norLgag~.
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14. Upon the request of the ~fortgagee the tiortgago~ shaii e~ecute anci deli~ er a supplemental note or
notes !or the sum or sums ad~-ancec~ b} tbe ~lortgr~ee for the alteration, modernization, impro~•~m~nt, main-
; tenance, or rcpair of said premises, for tax~s or assessments a~ainst the same and for aa~- other purposc autiior-
: ized hereunder. Said note or notes sl~$11 be secured hereb~ on a parity a ith and as fully as if the ad~ ance
' e~ icienced thereb~ Nere included in the note first described obove. Said si~pplemrntal notc or notes shall besr
interest at the rate pro~ ided for in the principal indebtedness and shall be psti able in a~prorimatel~ equal
` monthly pati ments tor such period as may be agreccf upon by the creditor and debtor. Faihn~ to agre~ on thc
3 maturity, t~e ~hoie o( the sum or sums so sd~-anced sheA be due and pe~ab(e thirt~~ (30) da~•s a(ter d~mand
b} the creditor. In no e~ ent shall tt~e maturity extend be}'ond tt?e ultimate r.~aturit.3• of tLr note first
described aboti e.
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