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ten~l~r to 11~~ 11ortKu~+•~~ iu a~~~•urdun~•~~ with th~~ pro~•i,ic~ns uf tlu~ no1~~ n~eureil h~v~~l?~•, full ~?n~•~n~•nt uf th~~
entirn indebtedneas rrpn~eute~l tl~ereb~•~ tl N`lo~tgugee, ax tru.te~~. shall, in con~putii?~ th~~ a~i~u~u?t of surl?
indebteJnc~ss~ credit to the et~•~•ount o~ t~e :~~urigaKor uqP c~eilit l,aluuct• rr~uait?inR uuib~r the pru~isiun, of (u)
ot said para?rnpl~ 2. If tLer~ ahsi) ?~c e defuult un~ler an~• o( tlie pro~•isions of this mortguK~~ r~~.ultiu~; in a
publio ssle o~ U~e premi~~~ i•o~•ered hert~b~•, or if the l~torigxg~•e u~~quires th~ pruix~rt~~ otherH~i~~• u~ter de[sult,
the 1~1ortRagee, ua truatr~~, shall appl~. at the tuu~ of the ~•o~~in~encement of sucl? proc~~e~liuKx or ut th~ tin~~~
the propert~• ia otherHis~~ a~•quircd, the amount tlien rc~niainin~ ~o ~•rnclit, of tilartgagor uncle~r (a) of purukraph 2
precrdinK aa a i•re~dit on th~~ interc~t aecrued and unpai~l an~l tl~e bulanrc to ihe principal tht~n rniuainin~? unpaid
on Fa~,~! note.
4. He '~r~.p~y? all taxee~ a~sesamente, wster ratea~ and otber governmental or municipsl chargea, 8nus, or
impositione, [or which provision hae not been made hereinbefore~ and in default thereof the Mortgagee mey pay the
eame; and that be will promptly deliver the o~ciel reoeiptn therefor to the Mortgagee.
5. He will peranit, oommit, or auRer no waste. impairmeat. or deterioratioa oi said property or sny part thereof, .
except reasonable wear snd tear; and in the event of the failure of the Mortgagor Lo kecp the buildinga on aaid
premieea and t6aee to be erected on said premiees. or improvements thereoa, in good repair, the Mortgagee may
make such repairs as in ita discretion it mey deem nece~ary for the proper prescrvetion thereof~ aad the full amount
of each and every auch payment ahall be due and payable thirtiy (30) ~iays aiter demand, aad ehaU be eecured by
the liea of t,hie mortgage.
6. He will pay all and singular the coate, c , and eapenees, ineluding ressonable lawyer's feee, and ooats
of abstrscts of title, incurred or paid at any time by t e Mortgagee becauee of the failure on the part of the Mortgagor
promptly and fully to perform the agreements and oovenents of said promiseory note and thia mortgage, and said
costs~ chargea, and expenses shall be immediately due and payable and shaU be eecured by the lien of this mortgage.
7. He will oontinuously m4intain hazard insurance, oi auch type or typee and amounte as Mortgagee may
trom time to time require, on the improvementa now or hereaiter on sa~d prem~ses, and e.~cept when payment
tor all such premiums has theretofore been made under (a) of paragraph 2 hereoi~ he will pay prom tly when
due any pretYUUms lherefor. All insurance shall be carried in compaiues appmved by hlottg ee an. t e L-
ag h '
cies and renewals thereof shall be held by Mortgagee and have attached thereto loss payable clausee in favor of
and in form acceptable to the Mortga~ee. In event of loss he w~ill give immediate notice by mail to Mortgagee,
and ~iorlgagee may make proof of ioss if not made promptly by Mortgagor, and each insurance oompany
concerned is 6ereby~authorized and d'uected to make payment for such loss direcLly to Mortgagee instead of
to I~iortgagor and Mortgagee jointly~, and the inswance proceeds~ or any part thereof, may be aQplied by Mor~
gagee at its option either to t,be reduction of the indebtedness hereby secured or to the restorataon or repau~ of
the property damaped. In event of foreclosure oi this mortgage~ or other transfer oi title to the mortga~ed
~roperty in extinguishment of the indebt,edness secured hereby, all nght, title, and interest of the I~iortgagor
m and to any insurance policiea then in torce ahall pASS to the purchaser or grantee.
R. If tlic• preu~i:~•,, or un~- purt lhrrnof, b~• ~•on~lc~mn~•d un~l~•r th~• poH•c~r of emiuent donuini, ur uc•quir~~d fur
a public• use, tl~~ ilu~n,~ki~s uH•ardeel. th~~ pm~•~~~~~Is for th~ takin~; of, or the~ ronsid~~rution for su~•h acyuisition, to
thi~ c•~t~nt of tL~ full aniount of th~~ r~•muinink unpai~l iu~lt•ht~~~ln~~:s s~~i•urr~l h~• tliis uinrt~:a~;i~. ur~ lu•r~i»-
i a:~i~m~~l to ih~~ ~Iort~uKc~t~. uu~l his hc~irs or :t~.,i~u,, uiul ~liull I,~• ~»~i~l f~~rt}~with to suid J1ort~a~;~•~~ or i~is
aa,i~n~~• to ?x~ applie~l on u~•rnunt u( th~~ lust nwturi~~r installuu•nt. of ,u~•1~ iu~l~~l,t~•clni~ss: pro~•i~i~~l. Ln~~•~~~•~r,
the ~1ort~?~k~~~~ or his .~.k,iKn~•i•, ~ua~- ut l~is di,~~r~•lion pu~• ~liri~~•t tc~ th~• ~1ort~u~•ur. liis h~•irn ~~r us.;irns an~• pxrt
or ull of su~•li a~~~•ar~i; ~~ro~•ul~•~I, tl~at if tiu~ luan is ~uar~int~•~~~1 or iusur~•~1. th~ ~•o~~~~•nl of thi~ g~inrantor or insurer
is ubtaim~~l in advance of suid pa~•ni~vit.
'J- The Mortgagee may, at any time pending a suit upon Lhis mortgage~ apply to the eourt having jurisdictioa
thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premi~es covered
t hereby aU arid singular, including all and singular the income, profits~ issues~ and revenues from whatever source
~ derived, each and every of which, it being expressly undeistood, is heteby mortgaged as if speci6cal;y set forth and
~ described in the granting and habendum clauses hereoi. Such appointment shall be made by such court as an admitted
~ equity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of
j the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or t!?e defendants. Such -
i rents, profits. income, issues, and revenues ahall be applied by such receiver according to the lien of this mortgage
i and the practice of such court. In the event of any default on the part oi the Mort,gagor hereunder, the Mortgagor
agrees to pay to the Mortgagee on demand as a ressonable monthly rental for the premises an amount at leaat
equivalent to one-Lwelfth (~2) of the aggregate of the twelve monthly installments payable in the then current
year plos the actual amount of the annual tsxes, asse.ssmenta~ water rates, and insurance premiums for such year
} not covered by the aforesaid monthly paymenta.
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10. In the event of any b*esch of this mortgage or default on the part of the Mortgagor; or in the event that
~ any of said sums of money herein referred to be not promptly and fully paid acconiing to the tenor heteof~ or in the
~ event that each and every t6e atipulations~ agreements, conditions~ and oovenants of said note and this mortgage,
at+e not duly~ promptly~ and fully performed; then in either or any such event, the said aggregate sum mentioned
- in said note-then remaining unpaid, with interest accrued to thst time, and all moneys secured hereby, shall become
due and gayable forthwith, or thereafter~ at the option of said Mortgagee, as fuAy and completely as if all of the
esid sums of money were originally stipulated to be paid on such day, anyLhing in said note or in this mortgage to
~ the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice or
~ demand, suit at luw or in equity, may be prosecuted as if aU moneys secured hereby had matured prior to ita institu-
- tion. The Mortgagee may foreclose this mortgage~ as to the amount so declared due and payable, and the said
premises shall be sold Lo satisfy and pay the same together with costs, expenses, and allowances. In csse 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 debt not then due and unpaid. ln such case the provisiona of this paragraph may again be
availed of thereafter from time to time by the htortgagee.
11. No waiver of any covenant herein or ot the obligation secured hereby shall at r^•~ time thereafter be held
to be a weiver of the terms hereof or of the note secured hereby. r *
% 1?. The lien of this instrument shall remain in full force and eSect during any postponement or extension of
the time of payment of the indebtednesa or any part thereof secured 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 expenditures (including reasonable attomey's fees) made by the Mortga~ee
I in so doinK shall draw interc~t. at the rate pro~•ided (or in the principnl indebtedn~ss, and shall be rnpa~~able
thirty (30) da}•s att,er demand, and, togetLer with inten~st and costs accrued thereon, shall be secured by -
Lhis mortgage.
19. Upon thc request of the tifortgaKce the Liortgagor shall execute and d~livcr a supplemeutal note or
_ notes for the sum or sums ad~anced Dy the ~iortgagee tor the alteration, modcrnization, impro~ement, main-
_ tenance, or rcpair o( said premises, lor taxes or a~.~essment,s a~;ainst the samc and fur e.a~• other purpose sutlior-
= ized hereunder. Said note or noles s}?ell be secure~ herel,v on a parity ~r•ith and as fully as i( the advance
: evidenced thereby were included in ihe note first deseribecl abo~•e. ~aid snpplem~ntal note or notes shall bear
interest at t6e rate pm~ ided for in the principal indebtedness and shall be payaLte in approximatel~~ eyual
~ monthly payments (or such period as may be a~;recd upon b~ the credilor and cleLtor. F'ailin~ Lo agree. on the
' msturity, t~e whole of the sum or sums so ad~~anccd stu~U due and pa~-ablc thirl,~• (30) da~•s a[ter demand
by the creditor. In no evenl shall lhe maturity extenJ beyond the ullimate r.~aturity of t6e note first.
described above.
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~ . 8~~ ~37 P~~ 8~
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