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tender to the Mortgsgce in aocordance wlth the pravieions a[ tl~e note secured l~Prcb~, full ps~ment ot the
entire indebtednesa ropre8ented thereb~~~ Lhe I?iorigagee~ as trustee, eh~ll~ in computing tlie auiount o[ sucli
indebtedneae, c~redit to the sccount o[ the Mortgagor suy credil balenoe remaining under t1~e' provisions o! (s)
of said p raph 2. II there shall be a default under sny oi tlie pmvimioua of this iuort.ga~e resulting i~i a
public sale o tlie premises covered hereby, or it the Mortgagee acquirea the pmpert~ ot}ierwise afte~ de[ault,
the Mortgegee, aa truatee, shsll spply, ~t the tinie of the conunencement of euch proceedings or at, tlie timP
the propert~ is otherwise acquired~ tl?e amount then ~emsinin to credit o[ Mortgugc~r under (a) of paragrapl~.2
ug
precediag sa a ccedi4 on the intereat uccrued wd uapaid end bulence to tLe p~incipal Lhen reiuaiuing unpaid
on said notc.
4. Ha will p?y aIl taxea, ~eeeesmenta, w~ter rat~ea, snd other goveramental or munidpal chargee~ 6nee. or
impoeitione, for which proviaion hae not been ms~de hereinbetore~ and in defsult thereot tbe Mortgagee msy psy t~
swne; ~nd th+?~ he will prompt~y deliver the offici~?l reoeigta tLerefor to the Mortgsgee.
b. He will pernnit, oommit, or auBer no waate, impairmeat, or deterloration of esid propet~y a~ ypart thereo!
e~ccept reaeonsbk ~?esr sad tear• aad in t~he eveati of the lail~u+e of the Morf~?gor to keep the b~u ldiags on eai~
gc~emisea nnd Waee to be arects~ oa esid pe~ise~, or impruvemeota ther~oa, .n ~od hspair the Mortgagee maY -
make such repsire ae ia ita diecretion it myy deem neoee~ry for tbe p~oper pre~ervation thereo~, and t1~e fuli amount
ot each sad every ~uc6 pe~ymenti ab~ll be dua ~nd 1~Yabb thit~ji (30) dqYs ~iter demaad, and ahall be eecured by
t~e lien d t,hie mortgage.
6. He w~l psy all ancl einaulat the ooeta, clh~?~snd e~cpemees, includin~ reaaonable ]s~vyer'a feee, and eoeta
of sbetr~cts of title, incurred or paid at sa,y ttme by ortgagee becauee of the fsilur~ oa the part of the Mort~or
P~Ptly and i to perform the a~eementa and oovenante of euid promieeory note snd this morc~e
, and sa?d
~oete, cbargee, e~cpenees shall be immed;ste~y duo ~?nd p~y,~We and ahalt be secured by the Iien of this morcgage.
T. Iie ~viII oontinuon~ maintsin hazard insuranoe, of euch type ortypee and am~unts ss'.viortgagee ms
trom time to time require, on the improvementa now or he~fter on ssid pr~mises and except when paymen~t
tor all such prnmi~uns has~theretofore been made under.(s) of para~grs~h 2 hereof ~e will psy promptly when
due any prevuroms thetefor. All inswxnos ehell be canaed in oompanies appmve~ by I~iortgagee and the poli
cies and r8newals thereof ahaU be Le1d by Mortgagee snd hsve sttacLed t~6ereto loes payable clausee in fsvor of
vill
and in form acceptsble to the Mo In event o~f kes he ~vill give immediste nodce by
mail to 1liostgagee,
~nd Mortgagee may make proof
o~~ if not mada pmmpt~y b~ Mor~gagorj and esch mauranoe oompany
~oncerned is hereb suthorized and directed to make psyment for suc6loes duectly to Mortgagee instesd of
to biortgagor and ~ortgage~ joint~j, and the ineurance prooeede, or any part there~f may be apphed by Morw
~agee st its option either to tbe redactioa of the indebtednees hereby secw+ed or to t~e restora4on or repair of
the pmperty damaged. In event of foreclosure of thia m~~t~, or other transfer of title to the mortgaged
m
an
rtd
tyo~ ~~0~'~
entlicies ihen
i~n
iotedneesa~ll Lereby; all right, title, snd int,ereeti oi tbe Mortgagor
+~y ~ Po Pass to tLe pum~er or g~ant~ee~.
8. If the pre~niees, or an~ psrt dicreof, be ~ondenmed under the pow~er ot enunent domsin or acc~uircd f~r
s public use, tlie dsniages awarcted, tl~e proceecie for the ~ot or the consideration tor surji arqu~ition~ to
the extent of the full amount of thp remaining unpaid inde tec~nees eecured br tl~ mortg~~r, arn hereb~
assign?ec~ to U?e Mortgagee, snd his heira or aeeigns, and shall be psid torihw?ith to said Mortgagc~ or lue
asa~gnee to be applied on sccount of the last msturmg instaUments ot suc4 indebtedness; provideci,liov~c~er, -
the Mor~a~ee or hia sasi~nee, may at his dieeretion pa~ direct to the Morigagor, lus lu~irs or essigns anr pari
or all o[ such sv~•arcl; prov~ded, that if the loan is 6uar~ntced or insured, tLa consenl o! the gunrantor or insurer ~
is obtained in adrance oi said pw~~nen~. ~
Tbe Mortgagee msy, st any ~ime pen~ing s snit npon this mort$nge, spply to tbe eonrt hsvIng jurjscliction
tbereof for the sppointment of s receiver, snd auch eo~ut ahell forthwith sppointi s reoeiver of the premiees oovered
hereby sll srid eingular, including all snd aingular the inoome, profite, . iasuee, and r8venues from wbatever eouroe
derived, a~ch and every of whic6, it being ea~preesly underetood, ie hereby mortgaged as if epecifically eet forth and
deeeribed in the aranting aad habendum elauees hereof. Such appointment shall be made by such eourt as an admitted
equity and s mntter ot absolute right to ssid Mortgsaee, snd without reference to the adequacy or insdequacy of
the value of the pmperty mart~ag~d or to the eolvency or ineolvency of said Mortgagor or t,~e defendants. Such
renta, proSts. income, iesuee, and revenues shall be spplied by such reoeiver according to the lien of this mortgage
and the practice of such couit. In the event of any default on the ~ of the l~iortgagor hereunder, the Mortgagor
sgrees to pay to the Mortgagee on demand ap n r8seonable mont ly rental for the remises an amount at leaat
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equivalent to one-tweltth (~z) of the aggregate of the t~velve monthly installments payabte in the then current
~ year plus t~ie actual amount of the annual taxes, ~eeesment~, tvater ratea, and insuranoe premiums for euch yeas
E not oovered by the nforeeaid monthly paymenta
~ lO.In the event of any breach of this mortgage or default on the pert of the l~iorfgagor,_or in the event that
any of Baid eutns 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, agreemente, conditioiw, and covenants of eaid note and this mortgage~
~ are not duly, promptly, and fully performe~i; t6en in either or eny such event, the said aggregate sum mentione~d
~ in said note then remaining unpaid, ~vith interest accrued to that time, and all moneys secured hereby, shall become
~ due and payable forthwith, or thereafter, at the option of said lbiortgsgee~ as fully and completely as if all of t.he
~ 8aid sums of money were ori~nally stipulated to be paid on such day, anyLhing in said note or in this mortgage to
# the oontrary notwithatanding; and thereupon or thereaiter, at the option ~of eaid Mortgaaee, a~thout notice or
; demand, suit at l~w or in equity, may be proeecuted ss if all moneys eecured-hereby had matured prior to ita iastitu-
~ tion. The Aiortgagee may forecloee this mortgage, as to the amount so declared due and pa3 able~ an~ the said
~ premises ahall be sold to eatisfy and pay the aame together with costs, expenses, and allowances. In case of partisl
foreclosure of this mortgage, the mortgaged premiaes a6all be eold subject to the oontinuing lien of this mortgxge
; for the amount of the debt not then due snd unpaid. In euch case the provisiona of this psragraph may again be
m availe~ of thereafter from time to time by the I?iortgagee.
~ 11. No wraiver of any oovenant herein or of the obligation secured bereby ahall at sny time thereafter be beld
x to be s~vaiver of the terms bereof or of the note eecured hereby.
~ ']2. The lien of ttii~ instrument ehall remain in full force and eRect during any poetponement or ~xteneion of
- the time of payment of the indebtednees or ~ny psrt thereoi eecure~ hereby.
~ 13. Tf the ]uiortgagor default ia any of the oovenanta or agreements oontained herein, or in eaid note, tben 1be
Martgagee msy perform the eame, and all expendituree (including maeona,ble attorney's feee) made by the Mortgs~ee
R in so doing shall draw interest st the rate provided for in the principal indebtedncss, and shall be repa~•aLle
t}~irty (30) day8 after demand, and, together witli interos6 and coste ~wcrued tLereon, s1i~i1 be aecur«l by
this mortga~o.
" 14. Upon the request of the Mortgagee the Mortgagor sbsll ea~ecute and delivec a aupplem~nta: sets ~r
~ notes tor the sum or sums ad~ anced by the 1~lortgagee for the slteration, modernization, impro~•cmcnt, ~ain-
; tenance, or repair of said premises, for ta~es or asFessments against the same and for any other purposc author- .
~ ized hereunder. Said note or notes shall be Becured hereby on s parity with and as fully as if the ad.ance
~ evidenced thereby were included in the note first described above. Said supplement,~l note or notes shall bcar
~ interest at the rate provided for in the principal indebtedness and ahall bepa yable in Approsimatci~ cqual
~ monthly pa}~ments for such period as may be n.greed upon by the creditor snd debtor. Failir?~ to a~;rec on the
~ mr.turity, the n•1?ole of the sum or ~ums so ad~•unced shall be due and pa~~ablc thirt~~ (:i~) da~•s aftrr ~l~~mpn~i
by the creditor. In no evcat sLEll LLe Diatutity extend be~~ona tl~e ultimate r~aturity of tLe n~te lirab
de^~cribed above.
~ 800K ~.c)l1 PAGf ~U~J
~
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