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And shall per[urm, comply with and abK1e by earh and e~ery of Ihr stipulaUuns, ~greeotirots,rund~tiuns and cuvenanis srt
furth in this mortgyje and in thc promiswry notr sctiured hereby, ~nd any ~rnewats ur other nutes g~rrn m acrord•rnce hrrawith,
then this mortga~qr and the estatc hereby crcated shall crase anJ be nuli rnd vuid.
And said Norig~~~r fur himsrlf rnd his hrirs, lrgal tep~esenUtives, >ucreuors .nd as~igns, hrreby cunvenant ~ and agrer. iu
and with said Monga~trr, its Irgal represematire~, successors a~xi :~s~igns:
1. l~o pay all and singular Ihe prin~~pal and inttrest and the various ynd sundry sums of R,orety payable by virtue of ~aiJ
promiuory notes, and ihis murtgage, each and e~Yry, promptly on the days respectively the same become due.
2. To pay ~II and sinRular Ihe taxrs, assessments, kvies, IiabiGt~es, obliitations and mcumbtanrrs uf every naturc and kind
nuv?~ un said drxtibed property, that hrteafter may be impastd, sufCrrrd, ptacrd, tericd u~ acsessrd thrrcupun, arxi ih~~ hereal ter
may t~e kritd or assesseQ upon this mortgute, the indebtedneu zerurcd hrrcby, or both, each and every, wt?en dua and payable
arcurding to law, befurc they l+ecume delinquent, and befurr aoy intrrest attarhes or any penatty is incurred; and in w f~r a~ any
thercui is of rerord the same shall be promptly satisC~ed and dixharged ut rcrord and the orKinal offirul dorumrnt Iwch rs, for
ms~ance, the lax receipl or 1he satisfxtion pape~ officially endursrd or ce~tified) shall be placed in 1he hands of Mortg:+gre w•i~h-
in trn days next after payment.
3. To keep said buildinFts, and any which may heteafter be erected upun said premises, insurcd ag,a~nst luss or damege by
fi~e snd such other huards or risks as may be required by Mortgagee in wrh amo~~nt or amounts as may be required by said
~fu~tg-rgre, in such insurana cumpaoy or companies u Moryiagce, its succzssors or assigns, may approve, and to deliver to said
INurtgagee, as additionxl se~urity her~to, the poliries of such insuranre and of any additiunal insurance which shall be takrn out
upon such buildings while any put of the indebtedness aforeuid sfiall ramain unpaid, hsving attactrod to saiJ policies:uch mort-
y~ge irdemnity clause as Mo~tg~tee stwl! dim~. Renewals of such poliries shall be so detirered at kast ten days before any such
insurance shall expiro. All insurance carried shall be satisfactory to said Mortgagee. Any wm which may become due under any
~uch pulicy may be applied by said lliorigagee, at its option, either tu redu~~e s~id debt ur b repair ot replace thc impruvements
rovered by said poticy. Said ~tortgaKee may prorure and substitute for any and all of the insui~nre w heW as afo~rsaid, wch
other policy w policies of insurance, in like amount, as it may determine, pmvided Murtga~ca~r Cails to raplare any such in~urrnce
w~ithin ten days after being nolified that the Insuring Cumpar~y is no longrr appwred by ~fortg:qtre. tn c~se of saie undzr furt-
~Iusure herrof, all su~h insurance shall thenceforth, and until ihe period of redemptiun shall expire, be made payabte to the
hofder of the certificate af sair; anJ in such evenls nid MonRa~ee is henby ruthurir.ed to collect Ihe unearned preniium on an>•
~ wrh pdicy it may cause to be ran~elled, ro~rdless uf whether siid p~emium is paid by ~tort~gor or ?1lortg:~ee, and apply such
• premium towards the payment of premium un any such new insura~cr so payable to the holder of such cciiiE:;ate.
4. In case said Mort~~r shall negle~ t or refuse to keep sa~d premi;ec in goud repai~ and condition, to pay promptly a hrn
due all ta~es and assessmentx, as afore~id, ur to remove any statutory lirns on said prcmises, or to keep thc buildings and
impruvements insured, as afures:~id, ~nd dehvcr the polir}~ or pulicies of insurrrtre, vr the rertrwals Ihereuf. to saiJ !1lortg.~Kee,a~
afura:saiJ. (I}CII S,~Id A~Ui~~.`:lYl'C Ill'J\'. 1~ Il SII:III 1U rlcct, f11:lICl' lCP:!li~, fI1:l1O1d1O Vld P(P(1@II)' 311d r0)' SUl'II ~~XiS ;IOd .71SCSSIi1C111S,
w~ith the acrrued intorest, prn•rlti~~, oflicer'~ feec, ~nd ex{nnk:s thercun, rcYieem s~id premises a•hich may harY been suld ur fur-
feited for ta~es or ssce..ments thrreun, purchasc any ta~ tiUc thereon, remo~~e any statutory liens ~nd prosecute or defend any
suitc in rclalion therrto, inwr~ and krep inwn~l said bui{dings in the wm, as afaresaid, or for ~ny less sum •rnd for wch time, as
said Mortga~tee m•ry decm pru~r. Any wms w~hirh may be w p~id uut by said MortKagee, and aU sums paid out for substituted
insurance; as aforrs~id, i~rludinK the rosts, rzpenscs and attoraey's fee paid in an}• suit •rffrctiog said real estate. when ne~~es-
sary or appropriate tv prutert the lirn hcrcof, sh-rll bcar interest Prom the Aatr of wrh pay~xnts at the same rate as is spe~tified,
~n Ihe notc securcd herrb~•, as p;?yable after defaul~ in payment vf said note, shaU bc paid b~• s~id \lurtgagor to said \lortgagee
upun demand and shall be Jremcd •r pan of ~he dcbt hrreby a~cured. and rero~rrable as such in -rU respech. An~• wrh lirnx
claims, taxes, assessments, or [a~ ~itles u? purchax~J, p~ici, or rr~leemed b>• said ~lnrtragee chall, as txtwren the pertieti herrto
the~r successurs in interest, br dre~«c;; ealid, so that in nu event shall the n~ties~ity ur v~lidit~~ of any wrh paymrnts t+e disputed.
Ne~ther such payment by \fortga~tee nur its coll~tion from Nurtg•r~or .hrll w-aive or affect as; e;-;ann, lien. enuitp or right ~f
+j~~~s a ~ '
~at ft~
M~ .~f'~~quested by tl~g lb~tgagee, ihc Nurlgago~, together with and in additiun to the monthly payments undet the terms
, on ihe due da}• o[ eqch monthly payment and until said notes are fully paid, sha!! pay w Ihe ~tort-
• ae insta ~f t~ wnes and asxssmenh next to becomr due apainst the mortKa¢ed premises, an installment of premiums
on insured poftcies required by the ~fortp,agee, and any other charges payabk according to the commitmertt
to finance. Sy enents sha11 be equal respeciirrly to wch ta~es ;~nd assessments, inwrance premiums and other charges, all
az estimatod tl~ortg~ee, less al! sums alr~gdy paid thercon, divided by the number of months that are to eapse before one
month ~r~t~drld rJAen such taxes and assessments, insurance premiums and other charges v?ill berome due. Said install-
mrnis 3lrall held by the Alortgagee (bearine the interest (ot Mortgagor) to pay such taxes, assessmenu, insurance ptemiums
and other char~tes. All payments rt?ade urxier the term oi this paragraph and under the note secured he~eb~• shafl be added
together and the apgregate amvunt thereof shall be p~id by the Hortgagor in a single paymeni each month to bt applied by the
Alortgagee in payment of the terms and in the ~~rder folluwing: (a) taxes and asseuments, and inwrance premiums and other
chatges payabk according to the commitment to finance: (b) intetest on the notes sn uted hereby: and (c) amortitation of ihe -
principal of said notes. Any det~ciency in the amuunt o~ wch aggregate monthl~• payment shal{ constitute a default under this
mortgage. 11'hen surh taxes, assessments, insurance premiums and other charges fa0 due, if the amouets deposited by the ~fort-
gagor for wch parposes are not ~uff~rient to p•ry said taxes, -rssessments, insurance premiums, and uther rhargec. as the case may
be, then due, then the Jfortgagor will pay to the 1?fortgagee wrh deticiency immedutely.llfien wch taxes, acsrzsmena, inwran~Y
ptemiums and other char~s ;al: ac:v. eE the rmuuots deposited b)• thr \fort~rgur for wch purposes exceed the amuuntc due for
surh taxes, assessments, insuranre premiumc and uther charges, the r~crss may, in thr discrctiun of the ~tursga~tre, be ~pplied
on subsequent monthly payments to tx made by the tiortgagor. In the e~ent uf default urxfer this murtg~gr rn}• unexpended
funds in the hands of the ~furt~gre depusited by the ~tortgagor to meel the ~~bh~at~onc of taxes, assecsments, insuran~e
premiums and other charges, shall be applied by the 111ortgagce upon thc indebtc~iness hereb~~ srrurcd in the folloxir~ order:
/ai interest on adrances made by ihe Nortgagee; Ib) advances made by the !1lurtgrgee: Ir) interest on the principal: and (d) the
principal debt hereby secured. When any such taxes, asseunzents, insu~ancz premiums or uthet ct?arges fall due ihe ifortgagor
will prompily obtain and deliver to the biorigagee statements with respect thereto.
6. The Morigagor represents and a~rrees that this mortgage lwn and all future loans evidenced by the aforesaid prcxnissory
notes which are secured hereby are m.xie and extended by blortgagee in relance, in part, on the tinanciat background and abili-
ties of I?tortgagor and any co-makers, guarantors or endorsets to, joinHy and se~~erally, pay an)• and al! various and sundry sums of
money and the spe~c rate of interest payable by r,rtue of said promissory notes and this mon~e. 7hese mortgage loans are
understood and agreed to be made and extended to the Alortgagor only, It is neither presumed, e~cpressed or implied that the
obiigations creatcd hereunder may be assumed or performed by any party other than the Mort~pgor, whether or not upon tfie
saia or conveyance of the premises herein described or any part thereof. If a conveyance should be made by the titortgagor of the
premises herein described. or any part thereof, aithout the written consent of the Mortgagc~e, (which eonsent may be withheld ~
arbitnrily or granted on terms selected by Mortgagee in its sole discretionJ or without assumptiun both by proper execution of
auumption agrcements and refated forms in use by ihe Mortgagee and by assumption in regular form of law by ihe grantee of the
obligatans crcated hereunder, then, in either oF those events, and at the opiion of the Mortgagee and without notice to the Mort-
gagor or to anq other pazty, all sums of money secured hereby shall immediately and concurrently and upon wch conveyance
become due and payable and in defauit whether or not the same are otherwise due and payabk or in default by the specific
terms hereof. The foregoing option shall be exercised by Mortgagee at its sole and compkte discretion. The aforesaid consent of
Mort~tagee may be either granted or withheld without any requ"vement of the Mortgagee disclosing uty rcasort thercfore. Ihot-
withstartding the toregoing, if the ounership of the mortgaged premises, or any part thereof, becomes vested in a~:~.~~ o?her
than the MartgAgor, the Mortgagee rtuy deal v~ith such successor or successors in interest with reference to this mortgagee, and
the debt hereby saured, regardless of any ct~ange in the terms of the obligations created hereunder, without in any manner i
vitiating or dixharging the Mortgagoi s liability hereunder or upon ihe debt hcreby secured. The Mortgagor shall at all times
continue liabk for the indebtedness secured hereby until this mortgage is fuliy discharged or Mortgagor is formally released by an
instrumen! in writing duly executed by the :Nortgagee.
7_ Mortgagor, at the optiun of Morigagee, shall pay a"late charge" not exceeding iwo per centum of any said a~regate
monthly installments including any installment for payment of taxes and insuran~r w~6en paid mure lh~n ten days after the due
date thereof (provided that irt no event shal! said "lale charge" result in the pa)•ment of interest in excecs o( the ma~imum
interest permitted by law~), to co~er the extra expense im•olr•ed in haruiling delinquent payments. Such "late charge" shall not be
payabk out of the proceeds of any cale made to satisfy the indebtedness secured hereby, unless wch Qroceeds are first wffi-
cient In dixharRe the entire indebtedness and all proprr costs and exprnses secured ihereby. A reasonable minimum "late charge"
will be charged as customarily fixed by Morigagee from time to time, and ~forigagor :~grees lo pay said minimurtr "late chugr." ,
if incuned.
8. To permit, commit or suffer no K~aste and to maintain tl?e imptovements at all times in a state of good repair and con-
dition: and to do or permit to be done to said promises nothing that w•ill alter or chrn~e the use and character uf said property or
in any way impair ar Keaken the security of s~id mortgage. In case of the refusal, neglect or inability of the Nortga~or to repair
and maintain said property, the ~tortgagee may at its option make such repair ot cause the same to be made and ad~•ance monies
in that behalf which xums shall be secured by the tien hereof and bear interest at the same rate u is speciFxd in the note secured
hereby, as payable after default in payment of said note.
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