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tender to the Mortgagee in accurdan~•e wilh the provisions of thF note serured lu~r~~br, full pa~~inent uf th~
entire indebtedneas represented thercb~•, the :~lortgagee, as truste~~, shall, in cornputii~g tl~~ au~ount o( sueh
indebtedness~ creciit to ttie accou~~t a( the :11ortga~or an~• credit bal~?nce remainin~ under tlie pro~•isions of (a)
of said paragraph 2. If there shall be a default, under an~• o[ the pro~•isions ot this u~ortgn~;~~ resultit~~ in a
public sale of the pren~ises covered i~ereb~, or it the MortgagNe acquires the propert~~ otherw•~se aftee detault, -
the ~iortgagee, as trustee~ ahall apptv~ st the time ot the co~~zinenc•~rnent o! such proc~edinga or at th~ tim~
the propert~• is otherwisP aequirecl, thP amount then remaining to credit o( \lortga~or under (a) of par~raph 2
preceding as a credit on the interPSt accrued and w~paid a~d the balatice to the principal then ^~maiui~?~ unpH~d
oa said note.
4. He will psy all taaee, aseeeaments, wstet rat,ee~ and other governmental or municipal chargee~ finee, or
impositione, for wluch proviaion haa not been made hereinbefore~ and in default thereof t~he Mortgagee msy p~ay the
eame; and thet be will pmmptly deliver the o~ciul reoeipt~ therefor to the Mortgagee.
5. He will permit~ oommit, or auBer no waete~ impairment~ or deterioration of eaid propertq or any part thereof
eaoept reaeonable wear and tea?r; and in the eveat of the failure of the Mortgegor to keep the ~uildinga on eaid
premises and thoee to be erected on eaid premieee~ or impmvements thereon~ in good repair, the Mortgagee anay
make such repairs ae in its discretion it may deem neoeesary for t6e proper preservation Lhereot, and the full amount
of each and every euch payment ahall be due and payable thirty (30) daye after demand, and shali be eec~u~ed by
the lien of thie mortgage. .
6. He will pay aU and aingulsr t6e coate, charges, and expensee, i.ncluding reasonable lawyer'e feea, and ooete
of ebstr~cts of title, ~'n~ curred or paid at any time by the Mortgagee becauae of the faiiure on the part of the Mortgagor ~
pmmptiy and fully ~o perform the agreements and covenants of said promissory note and this mortgage, and eaid
coste, eharges, and expensea ahall be immedistely due and payable and ehall be eecured by the lien of this mortgage.
7. He v~ill o~ntinuously maintain hazard insurance, of such type or types and amounts ns Mortgegee may
trom time to time require, on the improvements now or hereafter on said premi.ges and eacept when paymen~
for all such premiums has theretofore been made under (s) of paragraph 2 hereof ~he will pay promptiy when
due any premiums Lhcrefor. Alt insurance shall be carried in companiea appmved by 111ortgagee and the poli-
cie~ and reneu als thereof sbnll be held by Mortgagee and have attached thereto loss~ payable clauses tn favor of
and in form acceptable to the 11Zortgagee. In event of loss he will give immediate notice by mail to Mortgagee~
and ~iortgagee moy make proof of Ioss if not made promptly by Mortgagor, and each insurance company
concerned is hereb authorized and directed to make payment for such losa directlv to Mortgage~e instead of
to liortg.agor and ~iortgagee ointly , and the insurance proceeds, or eny part thereof, may be applied_ by Mor~-
gagee at its option either to t~e reduction of the indebtedness hereby secured or Lo the restoration or repair of
the property dama~ed. In event of foreclosure of this mortgage or other transfer of title to the mortgaged
~roperty m eatinguishment of the indebtedness secured hetet~y, a~l tight, title, and interest of the l~~fortgagor
in and to any insurance policies then in force ahall pass to the purchaser or grantee.
ii. !f tt?e pre~nises, or Anr purt tLt~reof, be rondt~ninc~d under th~~ pow~er of eniine~u do~nain, or acquir~d !or
a public use, tlie dama~es aw~arde~l, tlie pro~•reds for the takin~; of, or the consideratio» for suc•h acquisitiot?, to
the ~xteut of the full an~ount of t!u• renisining un~aid in~l~biedn~s~ se~ure~! b~• this n~~rt~;a~;~•, arn hereL~•
u~i~;ne~l to th~ ~fortgaK~~e, and his heirs or assigns, and shail be paid forthw•itl? to saicl ~lortga~ce or his
ass?Knee !o bc applied on ac~ount of the last maturin~ installmeuts of sucL indebtedness; pm~~=_:ieci, ho~erer,
thc ~lortga~~~~~ or liis assigner, n~a~- at hia dis~•rntion pa~- dirnct to tl~e ~iortga~;or, }iis h~its or a.c~igns att~• pnrt
or all of >uc•}~ aK~ard ; prorided, that if th~ loan is guaranteed or insured, t}ie consent of the guarantur ar insur~r
is oi>tain~•,l in ad~•ance of sai~1 pa~-n«nt.
The blortgagee may, at any time pending a auit upon this mertgage, apply to the oourt having jurisdictioa
thereof for the appointment of a receiver, and auch court shall forthwith appoint a receiver of the premises cover~d
; hereby all and singular, including all and aingular the income, proSts, issues, and revenues from whatever sc roe
derived~ each and every of which, it being expressly understood, is hereby mortgaged sa if speci6cally eet forth and
described in the granting and habendum clauses hereof. Such appointment shall be made b~ such court as an admitted
equity and a matter o: at~.solute right to said Mortgagee~ and without reference to the adequacy or inadequacy of
the value of the property mortgaged or to the solvency or insolvency of said A'Iortgagor or t'~e defeadants. Such
rents. pm6ts, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage
and the practice of such court. In the event of any delault" on the part of the Mortgagor hereunder, the biortgagor
agrees to pay to the ;1lorigagee on demand ss a reasonable monthiy rental for the premises an amount at least
' ~equivalent to one-tvrelfth (~/12) of the aggregate of the twelve monthly installmenta payable in the then current
~ year plus ihe actual amount of the anr,ual taxes, assessments, water rates, and insurance premiuma for auch year
not covered by the aforesaid monthly pa} ments.
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10. In the event of any breach of this mortgage or default on the part of the Mortgagor, or in the event that
; any of said sums of money herein refen~ed to be not promptly and fully paid according to the tenor 6ereof~ or in t6e
: event that each and every the stipulations, agreements, conditions, and oovenants of said note and this mortgage,
i ai~e not duly, promptly~ and fu11y performeJ; then in either or any such event, the said aggregate sum mentioned
i in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, ahall beoome
F due and payable forthwith, or thereafter, at the option of said 1liortgagee, as tully and completely as if all of the
~ esid sums of mone} were originalty stipulated to be paid on such day, snyihing in said notc or in this mortgage to
s the contrary notwithstsnding; 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 all moneys secured hereby had matured prior to its inetitu-
tion. The 111ortgagee may foreclose this mortgage, as to the amount sa dectared due and payable, and the said
~ premises shali be sold to satisfy and pay the same together with co~ts, expeases, and allowances. In case of partial
; foreclosure of this mortgage, the mortgaged premises shall be sold subject to the continuing lien of this mortgage
; for the amount of the deb~ not then due and unpaid. In such csse the pm~~sions of this paragraph may again be
~ availed of thereafter from time to time by the Mortgagee.
1 i. Vo waiver of any covenant herein or of the obligation secured hereb~• shall at any time thereafter be held
to be a waiver of Lhe terms hereof oz of the note eecured hereby.
1`?. The lien of thia instrument ahall remain in full force and etiect daring any postponement or extension of
the time of payment of the indebtednesa or any part thereof eecured hereby.
1:;. If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then the
Mortgagee may per[orm the same, and all expenditutes (including reasonable attomey'e iees) made by the biortgattee
in so doing shal[ draw interest at the rate pro~•id~~d for in the principttl inciebteclness, and shali br repe~•able
thirt~• (30) da~•s after demand, and, together with interest and costs accrued tliereon, shall be secured by
this mortgage,.
= 1~. L'pon the request of the :~lortgagee the :liortgagor shall execute and deliver a supplemental note or
- notes for the sum or sums adranced b~~ the ~iortgagee tor the alteration, modernization, improvement, main-
tenance~ or repair of 3aid premises, for tases or as.~essments against the same and for an~- other pur}~c~se~ suthor-
' ized hereunder. Said note or notes shall be secured herebS on a pnrity with and as tully ss if tlie ad.•ance
~ e~ idenced t6ereb~ w ere included in the note 6rst described abo~ e. Said snpplem~ntal note or notes shall Lear
interest at the ra~e pro~ ided for in the principal indebtedness and s6sll be pa~•able itt approximatcl~~ equa!
monthly pavments for such period as may- be ~greecl upon b3- the creditor and debtor. Fsiling to agree on the
matvrity, t~e x~hole of tt,e sum or sums so ad~•anced shnl) be due and pa~•abl~ thirt,y (3A) da~•s a(ter dcmand
by the creditor. In no event shall theJ maturity extend beyond the ultimate rsaturity of the note first
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described above.
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