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tender~to the :1lortgagee in ac<•ordan<<~ with ti?e pro~•isious ot th~~ nott~ se~~urnd h~~rc~h~•, jull pariue•nt of th~•
e~tire indebtcdness reprnaentt•d ther~l,r, the \lortgagee, ~ trus~c~~~, si?all, in ~~o~~i,?utii~g th~~ au~ount uf surh
indebtedness, credit to ttu~ account o( i~ie ~lortga~or an~• cmdit balance reuiainink uytid~r the pro~•isiuns of (a)
o[ said paragraph 2. 1f there shall lx a dNisuit under an~• of th~• pro~~isions of tliis n?ortga~?e n~,ulting in a
public sale of the prrmi~es covered hereb~-, or i[ tlie I~iortgagee acyuire~ the proEx~rt~• otl?erH~is~• afti~r ~I~~fault,
the Mortga~;ee, as trustee, shall appl~~, at the time of the conimen~•e~nenl ot sucii proe~~c~dings or at tl« tinir
the propert~• is otherwise acquired, the aniount then retnaininK to cr~~dit of ~~ortKa~:or under (a) of para~;raph 2
prnceding as a credit on the intert~st accrued and unpaid and the bala~u•e to the priucipal thrn ren?~iniu~ unpAid '
on said note.
4. He will pay alt is:ea, aeeeesmente, water ratee, and other governmental or municipai chargee, fiaee, ot
impositione, for which pmviaion hsa not been made hereinbefore, and in default thereof the Mortgagee may pay the
eame; snd that he will pmmptly deliver the official receipt~ therefor to the Mortgagee.
5. He will permi~, oommit, or suHer no waste, impairment, or deterioration of esid property or any part thereof~
e~ccept reasonable wear end tear; and in the event of the failure of the Mortgagor to keep the buildinge on eaid
premiaes and thoee to be erected op eaid premisee, or improvements thereon~ in good repair, the Mortgagee mey
make auch repairs as in ita diecretion it may deem neceeeary for the proper preservation thereof, and the full amount
of each and every euch payment at?all be due and psyable thirty (30) dt+ys after demand, and shall be eecured by
the lien of thie mortgage. ,
6. He will pay all and aingular the ooats, chargee, and eapenaee, including resaonable lawyer's fees, and oosts
of abstract8 of title, incun~ed or paid at any time by the Mortgagee because of the failure on the part of the Mortgagor
promptly and fully to perform the agreements and oovenanta of said promissory note and this mortgage, and said .
ooeta, charges. and expensea ahall be immediately due and payable and shall be eecured by the lien of thie mortgage.
7. He will continuo~s~y maintain hazard inaurance, of auch type or types and amounte as Mortgagee .may
fmm time to time require, on the improvementa now or hereafter on said premises and eacept when papment
!or all such premiums hes theretofore been made under (a) of parsgraph 2 hereof, ~e will pay promptly when
due any premiums therefor. All insurance shall be carried in compamee spproved by 1liortgagee and the poli-
cies and renewals thereof shall be held by Mortgagee end have attached thereto losa payable clausee in favor of
and in form acceptable to the Mortgagee. . In event of loss he will give immediate notice by mail to Mortgsgee,
and \iortgagee may make prooi ot Ioss if not made promptly by Mortgagor~ and each insurance oompany
concerned is hereby suthorized and directed to make payment for such loss directly to Mort~apee instead of
to Mortgagor and Mortgagee jointly, and the inaurance proceeds, or any part thereof, may be app~iied by Mor~
gagee at its option either to tbe reduction of the indebtedness hereby secured or to the restoration or repau~ of
the property dama~ed. In event o! forecloaure of this mortgage or other transfer of title to the mortgaged
property m extingu~shment of the indebtedness secured hereby, af 1 right, title, and interest of the Mortgagor
m and to any insurance policies then in force shall pnss to the purchaser or grantee.
S. If the pre~i~ist~s, or an~• part thereof, be conden?ned uncier the pow~r of en~inent domain, or ac•quired for
a public use, the dama~es aNarded, the proceeds !or the taking of, or the consideration for sucL ac•yuisition, to
the c!ctent ~r cf~p full ainount a( t}?e ren?aining unpaid indebtedness secured b~• this u~ort~age, are liernb~'
assigned to tLe ~~iortgagee, and his heirs or assigns, and shall be paid forthwith to said \tortga~;ee or his
assignee to be applied on ac~ount of the last ~naturing installments of such indebtedness; pm~ i~iect, }?ow-ever,
the ~lortg~ee or }?is assignee, ma~ at his discretion pa~• dvect to the ~'Iortgagor, his heirs or ussigns an~- part
or all o( such a~sarcl; pm~ided, that if the loan is Kuaranl~ed or insured, the consent of the guarantor or insurer
is obtained in ad~ance of_said pa~•iiient.
9. The Mortgagee may~ at any time pending s suit upon this mortgage, apply to the court haviag jurisdiction
thereof for the appointment of a receiver, and suc6 oourt shall forthwith appoint s receiver of the premis~a covered
hereby all arid aingular, including all and aingular the inoome, profits, issues, and revenuea from whatever source
derived, each and every of which, it being expres~ly underatood, is hereby mortgaged as if apecifically set forth and
described in the granting and habendum clauses hereof. Such appointment sh~ill be made by such court as an admitted
equity and a matter of absolute right to eaid Mortgagee~ and without reference to the adequacy or inadequacy of
~I the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or t5e defendants. Such
I rents, proSts, income~ issues~ and revenues shall be applieci by such receiver according 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 Mortgagor
agrees to pay to the hiortgagee on demand as a reasonable monthly rental for the premises an amount at least
equivalent to one-twelfth (~2) of the aggregate of the twelve monthly inatallmenta payable in the then current
• year plus the actual amount of the annual taxes, assessmente, water rates, and insurance premiuma for such year
not covered by the aforesaid monthly pay menta
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 suma of money 6erein referred to be not promptly and fully paid according to the tenor 6ereof, or in the
event t6at each and every the stipulations, agreementa~ conditione, and covenants of said note and this mortgage,
are not duly, promptly~ and fuUy performed; then in either or any such event, the said aggmgate sum mentioned
in said note then remaining unpaid, with interest accrued to that time, and aU moneya secured hereby, ahall become
due and payable forthwith, or thereafter~ at the option of said 11Zortgagee, ss fully and completely as if all of the
eaid aums of money were originally stipulated to be paid on such day, anyLhing in said note or in this mortgage to
the contrary notwithstanding; aud thereupon or thereafter, at the option of said Mortgage~, without notice or
demand~ suit at law or in equity, may be prosecuted as if all moneys aecured hereby had matured prior to its institu-
- tion. The Nlortgagee may foreclose this mortgage, as ta the amount so declared due and payable, and the said
premises shall be sold to satisfy and pay the same together with costs, expenses, and allowances. In case of partial
forecloswe of this mortgage, the mortgaged premises shall be sold subject to the oontinuing lien of this mortgage
for the amount of the debt not then due and unpaid. In suc6 caee the provisions of thia paragraph may again be
svailed of thereafter from time to time' by the Mortgagee.
11. No waiver of any covenant 6erein or of the obligation secured hereby shall at any ti~ne thereafter be held
to be a waiver of the terms hereof or of t6e note eecured her~bv.
12. T6e lien of Lhie instrument shall remain in full force and efiect during any postponement or exteneion of
the time of payment of the indebtedness or any part thereof secured hereby.
13. If the Mortgagor default in any of the oovenaata or agreements contained herein, or in esid note, then the
Mortgagee may perform the eame~ and all expenditwes (including re~onable attorney's fees) made by the 1~iortgaAee
in so doing shalt draw interest at the rate pro~ id~d for in t}~e principnl indebtedness, and shal) be rcps~•able
thirty (30) da3•s after demand, and, together with interest end costs accrued tLereon, shall be~secured by
thia mortgage.
14. Upon the request of the Mortgagee the l~iortgagor shall execute and deliver a supplementel note or
notes for the sum or sums ad~ anced by tbe :ltortgagee for the alteration, modernization, impro_~•emcnt, main-
tenance, or repair of said premises, for taxes or as.~essments against the same and for eny other purpose autlior-
ized hereunder. 5aid note or notes shel! be secured hereby on a parity with and as fully as if the ad.•ance
evidenced thereby were included in the note first described above. Said supplemental note or notcs shall bear
interest at the rate provided for in the principal indebledness and s6sll be pa~~able in approximatel~• equal
a
monthly pa •ments for such period as may be a~reed upon b~ the creditor and debtor. Failing to agrce on the
maturity, t e~hole of the sum or sums so ad~anced shali be due and pa~•ablc thirt,~~ (30) dars aftcr demand
by t6e creditor. In no event shsll the maturit,y extend be~ond the ultimate c~aturit~• o( t6e note first
described sbove. Sv~K a~i~ 455 ~
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