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AND the said Mortgagor hereby covenants and agrees: ?
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1. To pay all and singular the principal and interest and other sums of money pay- ~
able by virtuc of said promissory note and this deed, or either, promptty and on the daya ~
, respectively the same severally become due. -
2. To p~y all and singular the taxes, levies, liabilities, obligations and encumbrances
of every nature heretofore or hereafter imposed, placed, levied and assessed on said de-
scribed property, each and every, and if the same be not prompdy paid prior to delinquency
the said Mortgagee may at any time pay the,satne without waiving or affecting the opdon
to fortclose or any right hereunder, and the amount of every payment so mad~ shall bear
interest from the date thereof at the rate which said note bears and shall be s~cured by the
lien of this mortgage; the Mortgagor agrees to furnish to the 1Vlortgagee prior to Aprii of
each year receipts for all ad valorem taxes paid by the Mortgagor.
3. To pay all and singular the costs, charges and expenses, including lawyer's fees,
reasonably incurred or paid at any time by said Mortgagee because of the failure on the
part of the said Mortgagor to perform, comply with and abide by each•and every the sdp-
ulations, agreements, conditions and covenants of said note and this deed, or either, and the
amount of every such payment shall bear interest from date at the rate which- said note
bears and shall be secured by the lien of this mortgage.
4. To keep the buildings now or hereafter on said land insured against loss by fire in
a sum not less than the amount of this mortgage from time to time oustanding and unpaid,
and insured against loss by windstorm in a sum not less than fifty per cent ( S O~G ) of the
full insurable value of said premises in a company or companies to be approved by Mort- ,
gagee, and the policy or policies held by and payable to said Mortgagee, and, in the ?
event any sum of money becomes payable under such policy or policies, the Mortgagee - i
shall have the opaon to receive and apply the same on account o~ tlne obligation hereby `
secured or to p~ermir the Mortgagor to rec~ive and use it, or any part thereof, for ~
otber purposes, without thereby waiving or impairing any equity, lien, or right under or ~
by virtue of this mortgage, and may place and pay for such insurance or any part thereof ;
without waiving or affecting the option to €oreclose or any right hereundef, and the ~
amount of ~ each and every such payment shau bear interesr f rom date a*. the rate which t
said note bears and shall be secured by the lien of this mortgage. '
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S. To permit, commit or sufFer no waste, impairment or deterioration of said pro- _
perty or any part thereof, and to kezp and maintain the building or buildings now located ;
j upon or hereafter const~ucted upon the premises hereinbefore descrebed in good condition ~
• and repair, and from time to time make such repairs, improvements or replacements upon
~ and to said building or buildings as may be necessary to keep che same in gaod condition
~ and repair.
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j 6. To perform, comply with and abide by' each and every che stipulations, agree-
~ ments, conditions and covenants in said promissory :note and in this deed ser forth.
$ If any of said sums of money herein referred to be not promptly and fully paid
: within thirty days next after the same sev,erallp became due and payable, or if each and
i every the stipulations, agreements, con,c~iti~'ns and covenants of said promissory note and
~ chis deed, or either, are not duly performed, complied with and abided by, the said ~
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~ aggregate sum mentioned in said note then remaining unpaid, with accrued interest and ;
al[ other sums secured hereby shall become due and payable forthwith or thereafter at ~
the option of the Mortgagee, as fully and completely as if the said sums were originally ~
stipulated to be paid on such day, anything in said promissory note or herein to the ~
€ contrary notwithstanding. ;
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~ 8. That should suit be brought upoii this mortgage and the Mortgagee apply for '
3 the appointment of a Receiver, the Court shall forthwith and v~~ithout notice to the Mort- -
= gagor (or other defendants) appoint a Receiver of said property, including the income, -
? proftts, issues and revenues therefrom. Such appointment shall be made as a matter of
absolute right of the Mortgagee with~ut reference to the adequacy or inadequacy of the
value of the property morrgaged or to the solver_cy or insolvency of the Mortgagor.
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