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S. L?ntil dcfault in the ~~erformauce oI the a?veu:~nt~ and aKr~timcnls uf this mortgug~•, the nwrtgagurs shall be entidcKl
c~~ coAcrt ihe rents~ issues nnd profits from the premises hereinbefuru dc~scri{xxl, but in case of a default in any of the terms oE
this mortgage, nnd the tilin~ of u biU to fomrlose this or any other mortgage encurnbering the ~vithin describcil proj~ty, the
.\ssociatiou shall immediate and ~vid?cut noticti be entidecl to the apjwintment of a Receiver of the mortgagecl property, aaJ
~~f the rents, issoes and profits thercoE, ~vith the ~4cua1 po~ver of Rec~civers in sunc ~ases, and such Reeeiver may be eontinuecl
~n ~xusessiun of the said properh~ w~til the time of the sale thereof under such foreclusure, and uutil the confirmation of such
~:~le bv th~~ Court.
9. lf a c~eiveyauee should be inade by the inortgagors of t}?e pre•mises herein deseritx.~d, or any part therrc~f, without
th~• ~~Tittcn c~us~•~~t of the Associ:?tion, and ~~ithoat :usiimj~tion in rc~~ular forni uf law by the ~rantce of th~ AbI1g111UO5 to the
\..~~eiation creatt~i b~• said pn~missory note and this mort ~:~ge, theu, :incl in that tvent, ancl at the optiun of tlie AsuK•i:?ti~n~. j
.~n~l without ~wtice, all xums of mc~uev se^~irc~cl hemby stia~l immediatcly and cuiecurn•ntlv ~~~ith such cv~nvevance txcx»ne due und `
~r,i~:~ble aod in default. The Association may deal with successors iu i~iterest ~vith reference to thu murtgage and the debt hemb~~ #
,ecurecl in the•s:une manner as ~~•ith the mortkagors, :u?d may fu~lx•ar tu sue or may erte~~d time fur payment of the debt, securc~cl ;
hereb~~, or otfu~nvice act ~~'ithuut dischargin~ ur in any ~vav affecting thr 1i:iLility of the murtga~urs hereunder or upon the debt ?
hemby seciuecl. The Association may also deal ~vith the ~lortgagors and?or ~~•ith sua~.•ssors in interest ~vith reference to this
rnurtg:?ge :ind thc dcbt h~reb~• securE-cl bv for~•ariug to su.•, rxtendinfi the tirne for payment oE the debt, pm~•iding for different
~r~onthly pa~'mcnts and/or a different interest rate, and by other exprcKS rncxlifications of thr c~utr.~rt, ~~•ithuut losiug am• priorit~•
~he Assocultion t?as over othcr morig:~fices or lir~~urs or holders of aup junior interests in the pro~x•rh• secured herebv.
10. That in the cvent the premises h~•rehv mc~rt~;age~el, or an~• part thereaf, shall be condernned aud taken for publie i~u -
iuider tl~e ix,~ver of emincnt dusn:iin, the A~xxiatiun s}wll have thc riGlit to dem.u~d that aA damages a~~•ardcd for t}~e taking of or '
damagc~s to ~:~id pmmiscK shaU be paicl to the Associatiu:~, its se~ccresc,rs or assi~i~s, up to the :tmottnt unpaid on this mortgage and
mav be applie~cl upon t}?e pa~•ment r~r p:?~~ments l:ut pay.~ble thereon.
11. lt is spe.~cifically agrceci th~t time is the essenc~ of this amtract and that no ~vaiver of anv obligatiun here~mder or of
the uhligation securecl hereby shall at an~~ time thcmafter be held to he a~~~aiver of the terms or of the instniment secured hereb~•.
12. lf foreelosure proceedinRs of an~~ sernnd mort~a~e or secand trust cleed or any junior lien of ..ny kinci should be insti-
tuted, the Association m:~v at its option, immediately or themafter declare this mortga~e and the indebtedness secured hersby dae
.u~d ~yable. '
13. To the exteiit of the ind~•btedness of the ~lortgaQors to th~ Association desc:ribed hereiu or secureJ hereby, the Asso-
c;.~tion is hemb~• subro~ated ta thc licn or liens and to the rights of thc u~~•ners and holdcrs thereof of e:uh and every mortgage,
li~•n ur othrr e~~eumbranee crn the la?~d clescril~ed herein ~shich i. p:?id .u~~lf~,rl satisfied, in ~vhole or in ~~.~rt, out of the proeeecis
~~f thc loan descriL~cd hcmin or secure~+i hcrebv, :~nd the res~~ccti~•~• liens of ~.~id mort~ages, liens or other encumbrances, shall]~ ss
r~~ :?ncl I?e held b~• the Asscx•i:itiun he•rcin zs security for the indebtecluess to the A~sxiaticm herein ciesc•ribeci or hereby seeured, to _
tiu~ same cx!ent that i1 ~suuld ha~•e }mPn presen~ed and ~~~ould ha~'~ been rassrd to und been held by the Association had it been
;1~~I~• and reGularl~- assi~uecl, tr•?nsferrc•d, set over and delivered unto thc Ass~x•iation by scparate deed of assignment, nohvithstand-
in~ the (act that the same ma~• Ue satisfied and canc~lleci of record, it }ming tl~e intention of the p.irtics hereto that !he same ~~z11
I~t• sa;isfied and canmllcY) of ~ record b~~ the holders thercoE at or about the time of the recording of this mortgage.
14. To pav ail and sin~ular the eosts, char~es, and expenses inelucling la«yer's fees, reasonablv ineurrecl or paid at an~•
rin;c bv the Assuciation, Ix~•:n~se uf th~ f;?iiur~ of the '.llortgaGors to perfonn, comply ~vith and abide b~~ each and every stipula-
riuns, aomrments, cy>ndition~ and rn~•c•n:tnls oF said rromissory note and this cleecl, or either, and everv sueh pavment s}iall 1x:?r
~nteres! from date at the r:de ststecl in th~• note sc~c•urcd hereb~•.
I5. Th:d !~e ~~•ill Pcrmit, commit, or suffer no ~~•aste, impairn~ent, or cl~~teriaratinn of said pro~rt~~ or am• Part thereof:
~n~l in the c•~•rnt of the failure of the \tort~ag~rs to kecp th~ huil~tin~, ~~n z:?id pnmises and thuse to 1x ererted on s:~id ~remises.
' irnpro~•emcnts thcreon in good repair, the Associatiou m:~~~ make :uul pav for such mpairs as in its disrretion it mav deem -
; ne•cessarv for ihe proper prescrvation thereof, and thc full amount of such pa~~ments ~hall lx• seeured bv the lien nf thic mortgage
~ .uul shall at the optiun of ihe Associatio~ be immecliatcly duc and pa~~able, or payable in such monthly installments as the Associa-
ti~m mav dctcrminc, and everv such p:i~~nent shall Ucar interest from date at tLe rate statccl in the notc secared hereb~~.
~ 16. ?hat if the Associ:ition and the ~lort~~gors agree, the \tort~a~urs ~+•ill cam' a policy or ~lici~s of insurance ujx~n•
!f~rir li~•es in ar~ am~unt e~ual fr~~in time !o time to the aniuunt oF indebtedncss hercb~~ sec~ucd, makin~ said Assoc:ation benefi-
` , i.~r~~ ih~rcun~ler, and th:~t tiie s;?id Ass~xiation mav pay the premiums fe~r suc1~ IT15Uf1IlCC (in the erent th~ \Iort~agors do not),
~ ~ncl aclcl eaeh sueh p:i~•ment to the unpaid balanee~oE tlse loa~, as ~f th~ first d.iy of the then c•urrent inonth, ancl it shall becomi•
~ ;~i~lit~~~n.J indcbtedness tieY•urecl bv tnis mvrtgaQe pa~~able ujx~n dcrnand.
~ I~. That in th~ c~•c~nt th:it this riir~rt~:a~e hc t;ivcn to seY•i~r~ a co~~tmction 1oan, failu~e ~n the part ~~f thc ~lortga~ors r~r
?]~eir cYmtr.ictors ~O COR7P~Cte saicl b~iildi~i!; in accordat?cc ~~•ith G~nstructiun Luvn Agreemcnt, of e~•en d~~te here~~~ith, or to build
~ .:~i~l c~m~truction in accti~rdance ~+~it1~ plans and sjxK•ifications lilecl ~~•ith the r1cs~~c:iation, shall constitutc a hreach oE this mort~.?~e,
~ :~~~1: .it thr option ~f thc :~s;ociati~m, immcdiatelv m.iture the entirr• arnonnt i~f ~rinci~al and inte~rest hcrcby sec:ured and the Ass~~-
~ i,ihon mav immcYliatch~ instiiutc~ prrxrcciin~s Iu~forrclose ihis mor!na~r. ~
~ l~s. Th::t thc abstract or aL:tr:ictc of titlc rn~•~•rin~ thc mort~;a~~•ci ~in~lx>r!~• sh:~ll at .?1! timcs, durinR the lifc of this murt-
~ i~,i•, rc~main in tl~c ~~ssessiun ~~F t}ie :~ss~ciati~rn :in~l in the eeent of th~• fnrtY•I~sum of this mort~;a~e or othcr transfer of titlc to
~ '1;~• ~n:~rt,R,a~,c~l prol~crtv in extinguishmcnt oE ihe indeirtedness scct~rcYi hcrrbv, all ri~ht, titlc, and intcrc~t of the ~tort~a~ors in
~:~~1 m an~• such ;ehstrac•ts of t:tle shall pass to the purchaser or gr.~ntee.
19. 'rh~ Assoc•iati~~n shall ha~~e the rijht, in its discretion, t~~ mc~uire th:d the \lortR:~~ors pa~• into the Association in addi-
~ in tlic~ m<mtl~lv ir.stallmc~nts of.prineipal arul int~•rest to be ~~.ii~i }n• ,he \furt~:~~~rs under th~ note seeureci Uv this molts:loC,
:isnowit c•c]ual tv ~me~-t.~•eifth of the :~nnual inst:?llments of an~• t:i~e~s crn the ~r.urtg:~~c~cl ~remises Ie~•ied c~r assessed bv :im~
~ ,~~~~i•rnmcnt:il autl~orit~~, :usd onc-t..~cifth of thc• anm~al premiums (~~r I~im anrl Estc•nciecl Covera~c insiu~ance un thc martgagccl
;:rr~ni~~s as hrrrinbcd~ue r~y~uir~•r~ h~• the .a~.~K~i:~ti~m_ :~nd the ~1ort~~e~~on' fail~ue• t~? make such p:?~•ments sh:~ll coustihrte a defa~dt
~ , ~ ~ .
~ ~su~lcr t_~is tnort~,a~c.
I\ ~t'iT\ESS \l'11E:RGOF', the s.iiel ~irirt~:i~~~~rc he~reunt~~ te•t !h~•6r I~;in~ls ;~ncl s~rals tht• cla~• and ~•t~ar first abo~'e «-ritten.
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_ ~ n~•cl, ~eah•~i .ind clc•li~~~rc~l in thc j~n~c•n<r ~f: /
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~ U.`.G',. / l • ~~t-4 ~ ~ ~~~4~ SEAI.)
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~ ' Robert L. Campbe~I ~ s-
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r .t/i/~~~t- a/~CC:%7:-~ G~ f ,~'~E''c'`tSEALI
~ Wilma A. Campbell
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;'NIINESSESi IMORiGAGORS)
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