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Iender to the '~lortKagee in n~•cordan~~r with tho proviaiuna of tlie n~~t~~ s~~eurt~~l h~~r~~bc. full pa~•uu~~?1 ot tiu•
entire ind~~btedncas re~presented thNreb~•; thi• ;ltort~e~, as tru.~t~~~, shNll, in ~•un~~,utii?~ th~~ eiuount nf su~•h
. indebted~~e~s, credit to th~ account o[ t~u~ ~tort e~;or an~• cre~lit i?alam•e r~•n~aiiiii~~; un~lc~r th~~ pn~~•isions of ~al
o~ said paca~rnpl? 2. If tl~ere at~all be a defau~t under anr ot tl?e pro~•iyions uf tl~is niortga~?e r~~sultin~? in a
public sale ~f thc pren~is~~s co~•ered herel,y, or if the :~lortgagee acyu~res the pmpert~• otl~er~~•~,~• aft~•r ~lefsult,
the \iortga~,?ee, a.g trust.~e, shall appl~-, at the tu~ie of 1he conunenc•cment o( su~h pru~•eNdin~s or At th~~ tim~~
tlie pmpert~• i~ otherwi~~ ac~quired, tl~c an~ount then remaininK to credit of ~~IortK~~;or under (a) of para~;raph 2
precedin~ as a credit on the inter~~st accruc~d and unpaid snd the balane~e to the prinripsl then ren~aiwn~ unpHid
on said note.
4. He wiU psy all tax~, aeeeesmenta~ water rat~ee~ and other governmental or municipal chargea, finee, or
impoaitiona, for which proviaion has not been ncade hereinbefor8~ and in default thereof the Mottgagee may pay the
eame; and that 6e will ptomptly deliver the o~cial t~ec~eipt~ theretor to the Martgagee.
5. He will permit~ oommi~, or suSer no~waste~ impairment, or deteriotation of said property or any part thereot,
e,ccept reasonable wear and tear; and in the event of the failure of the Mortgagor to keep the buildinga on eaid
premisee and those to be erected on eaid prtmiees, or improvements thereon~ in good repair~ the Mortgagee may
u?sle such repaira as in its diecretion it may deem neceeeary for the pmper preeervation thereof, and the full amount
of each and every euch pay~ment ahall be due and psyable thirty (30) days after demand, and s6all be eecured by
the Gea of thie mortgage.
6. He will pay all and~eipgulu tb~e ooata, chargea, aad eapenees, including reasonable lawyer's feea, and coate
of abstr~cts of title, incurred or paid at any t5me by the Mottgagee beceuse of the failure on the part of the Mortgagor
promptl~• and fully to perform the agreements and covenanta of eaid promiaeory note and this mortgage~ and said
ooats, charges, and expen9es ahall be immediately due and payable and shall be aecured by the lien of this mortgage.
7. He v~ill oontinuoualy maintain hazard insurance, oi such type or types and eunounts as Mortgagee may
from time to time require, on the unprovements now or hereafter on said premises and e.tcept when payment
for all auch premiums hes theretofore been made under (a) of paragraph 2 hereof, ~e will pay promptly w hen
due ans premiums therefor. All insurance shall be carried in companies appmved by riortgag ee and the poli-
cies and renewals thereof shall be held bp Mortgagee and have attsched thereto loss payable clauses in fsvor of
and in form acceptable to the l~iortgagee. In event of lo~ he will give immediate notice by mail to Mortgagee,
snd 1lortgagee map make proof of Ioss if not made pmmptly by Mortgagor, and each insurance company
concerned is hereby~ authorized and directed to make payment for such loss directlp to Mortgage~e instead of
to viortgagor and Mortgagee ointly , and the insurance proceeds, or any part thereof, may be applied by Mor~
gagee at its option either to t~e reductiou of the indebtedness hereby secured or to the restoration or repair of
the property dama~ed. In event of forecloeure of this mortgage or other transfer of title to the mortgaged
property m extinguishment oi the indebtedness secured hereby, s~l right, tStle, and interest of the biortgagor
in and to any insurance policies then in force ahall pass to the pucchsser or grentee.
f~. If tht~ premisc~, or au~• pnrt tLercof, tx~ co~idenined under the pow~r of eniinent domain, or ac•quir~~d f~~r
a pubti~• use, the damages aH'ardc~cl, thc~ proc~eds tor ~ie takin~ of, or the consideration for su~•h acquisiUo~i, to
thr ~~xtent ~f the full nmount of th~~ r~~rnaining unpai~l indebtedne~ss secured b~- tl?is n~ortg:?~;e, ~r~~ 1?ereb~-
nssi~ned to tlie ~Iort~aKee, a~id i~is I~eirs or ~si~ns, and shall be paid forthw•it}~ to saici ~lortgagee or }~is
t?5si~nee ta Ix appli~d on ac~~ow~t of the last iuatur~n~ installme~?ts of such i~idebtedness; proridecl, lioH•r~•er,
the ~~IoriguKer or hi.s as.~i~nee, nia~- at his di~~c•r~tion pa~- dire~t to the ~lortga~or, his 1i~irs or a.~.signs x~?~• part
or al( of ~uch aw•ard; pro~id~d, that if tht~ toun is Kuarantced or insurnd, tF?e coi~sent of the guarantor or insurer
; is ~htained 'en ad~•anct~ of said pa~•~ii~nt. .
~ The 1'Iortgagee may~ at any time pending a suit upon this mortgage, apply to the oourt having juriadictioa
~ tbereof for the appointment of a receiver~ and such cQUrt shall forthwith appoint a receiver of the premises oovered
hereb} alI arid singular, including all and singular the inoome~ profits, issues, and revenuea from whatever eource
~ derived, each and every of which, it being expressly underatood, is hereby mortgaged sa if apecifically ~et forth and
~ described in the granting and habendum clauses hereof. Such appointment shall be made by such court as an admitted
~ equit~- and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of
the ~•alue of the property mortgaged or to the solvenc3 or insolvency of said Mortgagor or the defendsnts. Such ,
€ rents, profita, income, issues, and revenues shall be appGed by such receiver according to the lien of this mortgage
end the practice of such court. In the event of any default on the part of t6e Mortgagor hereunder, the biortgagor
~ agreE~s to pa} to the ~iortgagee on demand as a reasonable monthly rental for the premises an amount at least
equi~~alent to one-twelfth (!~21 of the aggregate of the twelve monthly installments payable in the then current
~ ~~ear plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year
~ not co~ ered b~ the ~foresaid monthly pa~•menta.
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~ I~~. In the event of any breach of this mortgage or default on the part of the Diortgagor; or in the event that
~ any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the
~ event that each and every the atipulations, agreements, conditions, and covenants of said note and this mor~~age~
~ are not dul}•, pmmptiy, and fully performed; then in either or any such e~ent, the ssid aggregate sum mentioned
in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become
~ due and pa~•able forthwith, or thereafter, at the option of said Mortgagee, as fully and completely as if all of the
~ said sums of money were originally stipulated to be paid on such day, an~ thing in said note or in this mortguge to
~ t~he contrary notwithstanding; aad thereupon or thereafter, at the option of said 1~lortgagee, without notice or
~ demaqd, suit at law or in equity, may be prosecutEd as if all moneys secured hereby had matured prior to its institu-
~ i tion. The lfortgagee ma~ foreclose this mort~age, as to the amount sc~ declared due and pa3•able, and the said
premises shall be sold to satisfy and pa~~ the same together aith costs,-expenses, and allowances. In case of partial
foreclosure of this morigage, the mortgaged pmmises ahall be eold subject to the continuing lien ot this mortgage
~ for the amount of the debt not then dne and unpaid. In auch csse the pro~~isions of this paragraph may again be
availed of thereafter from time to time by the Mortgagee. `
~ i. No wai~er of any covenant herein or of the obligation secumd hereb~• shall at any time themafter be held t
to be a waiver of the terms hereof or of the uote secumd hereb~~. ,
- ~ t~'. The lien of thia instrument ahall mmain in full force and effect during an~• postponement or extension of _ ;
h the time~of pa~-ment of the indebtedness or an~• part tl~ereof aecured hereb~•.
1:i. If the ~iortgagor default in an~~ of the covenan2s or agreements contained herein, or in said note, then the
- hiortgagee may perf~ron the same, and all expenditures !~ach~ding reasonable attorneti•'s fees) made by the ~lortgaQee
in so doing sliall draw- interest at the rate pro~•i~le~~i fnr in tt~e principal in~iebt~~in~~ss, and shall be repe~'able
- thirt~' (30) da~-s after demand, and, together w-ith interest anc! costs accrued thereon, sLall be secured by
- this mortgage. -
14. LTpc~*~ the request of the ?~iort~a~ce the 1lortga~or shal! etecute and cleli~ er a suppl~m~ntal note or
notrs for the su?n or sums ad~-anced by t e~lortgagee for the alteration, mo~lc~rnization, irnpro~•c~ment~ IIiHIIi-
tenance, or repe~r of said premises, for ta~F•~ or as~c~ssments ngainst the sniu~~ und f~r a.z~~- other pur~?~se author-
<i
~ ized hereunder. ~sid note or notc~c si~all he ~~c•ltred hPreb~• on a parit~• w•ith and as fuU~ a.s if th~ t~d~-ance
e~ idenced tl~erc•b~• K-ere included in the note firsi described aix~~•e. ~aid s~~pplezn~ntal note or notes sliall beer
interest at t6e rnle prorided for in thc prin~ipal indebtedness and ~hall be pa~-abte in appmximatelt• equal
f:;<# monthl~• pa~•m~~nts for such period as ma~- be e~rced upon b~- the cre~litor and ~Ic~ht~~r. Fnilin~ to agrec~ ~n the ~
maturit~•, t~?e ~-hole of tlie sum or cum5~so ad~~an~~ed sht~ll t~c due nnd ~~a~•abl~• tt?irl~• {~Oj da~•s aftcr d~~mnnd
- b~ the creditor. In no event shsll the mat urit~• e>:tec~~1 be~•und t1~~ uftirna~e r.iaturit~• of tLe n~te first
deacribed abo~ e.
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