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Principsl sum and accrued ~nterest shall become due and payable w~thout notice at the option ot the hokfer thereot. And shall
duty,.promptfy, and fuUy pa~torm, discharge, execute, effect, complete, and comply with snd abide by each and every the stipu• .
IaNons, ag~eements, tonditions, and covenants of said promissory note and this mortgage, then this mo?igage and the estate
he~eby created shall c~eso and bs nu11 and void.
ArM the MatgaQon tu~th~r covenant as folbws:
1. That they will pay the indeMedness, ss hereinbetore providad.
2. That. in oMe? more fuily to protact the sacurity oi this mortgage. the Mortgago?s, togethe~ with snd in addition to. the
monthly paymenls u~de~ thf tam~s oi any notes secured hereby. oA the tirst day ot each month until said oote is fully pald. will
pay to tha Mortgage~ the following sums:
x~l~atxbsc0~~actba~t~tle~c~twu~t~asmrx~peoc~d~huozaoiitie~uofdl~O~AiMtao~holt . .
~~ec~tks~~emotri~tlilc ~et~ami~c~at~*nbt~fa~d~daoeexltacAno~Sa~Aefl~atoA0ldti~EANclt~cRiik
~ooatxklycltaolilntlg4y~,
(b) All payments mentioned in the proceding subsection of this paragraph ar~d all paymeRts to De made unde? any note
secured hereby shaU be added together snd ths aggregats amount the~eof shall be paid by the MortQaQo?s each month in a
single payment to b4 applied by tbe Mo~tgagee to the following items in the order set foRh:
1. ~
11. Interost oe the oote secured hemby; and _
111. Amortization of the principal oi saM note.
Any deficiency i~ the amount oi sucb sggregste monthy psyment shall. unless made good Dy the MortQagors prior to the due
date. oi the next such payme~t. constitute an event ot deisult under this mortgage. The Mortgagee may collect a"late charge"
not to exceed tvro cents (2!) tor each dolla~ (t) ot cach paymeM more than fifteen (15) days in arrears to correr the extra ex-
pense invotved in handiing detinQuent payments.
3. TAat if the total of the payme~ts made by the Mortgsgors e~rtder (a) ~of paragraph 2 precading shall exued tM amount
of payments sctualy made by the Mo~tgagee. tor taxes and assessments and insurance premiums, as the case may be. such
excess shbll be c~edited by the Mortgagee on subsequeot payments to be made by the Mortgagors. If. however, the monthy pay
ments made by the Mortgagors under (a) oi parag~aph 2 preceding shall not be suNicient to pay taxes and assessments and i~-
surance premiums, as the case may be, when the same shall become due and payable, then the Mortgagors shall pay to the Mort-
gagee any amouot necessary to make up the deficie~cy. on or before the date when payment of such taxes. assessments. or insur.
ance pramiums shall be dus. Ii ~t a~y time the MortgagOrs shall teoder to the Mortgagee in accordance with the provisions of the
note secured hereby, full payment of the entire indebtedness represented thereby, the Martgagee sAaN. pay to ihe Mortgagon al!
amounts then ~emaining !n the tax and insurance escrow account held in con~ection with this loan. Ii thero shatl be a default
under any oi the provisions ot this mortgage resuiting in a public sale oi the premises covered hereby. or if the Mortgagce acquires
the property otherwise after default. the Mortgagee shall appty. at the time of the oommencement of such proceedings or at the
time the property is otherwise aoquired. the balance then remainiog in the funds accumulated under (s) of paragraph 2 preceding
as a credit against the amoun~ of. principal then remaining unpaid unde~ said note.
A. Tha! they will psy aq taxes, sssessments, water rates, and other govemmental o? municipat charges„ fines. or imposl- ~
tions, fo~ whkh provision has not been made hereinbefore, and in defauR thereof. the Mortgagee may pay the same and be
secured by the (ien of the mortgage; and that they will p~omptty deliver the offitial receipts therefore to the Mortgagee.
5. That tfiey wilt permit~ commit. or suNer no waste, impaimnent. or deterioration oi said property or any pa~t thercof; and
in the eveot of the tailure of the Mortgagors to keep the buitdings or said premises and those to be erected on said premises, or
improvements thereon, i~ good repair, the Mortgagee may make such repairs as in its discretion it may deem ~ecessary tor the ~
p~oper preservation thereof. and the full amount of each and every such payment shatt be immediately due and payable, and
~ shall be secured by the lien oi this mortgage. ~ '
~ 6. That they wilt pay all and singular the costs, charges, and expenses. inctudiog reasonabte lawyer's tees, and cosis of
abst~acts of trtie, mcurred or pai~ art any iinie oy i~ie tr.i~ri~a~~ ~3C~.dii~ {ii 'a+:~ ~~;~l:::'z :3^ •!<z ~g~! z±f she ~AnA~aarue ~mMDtly
and fully toperiorm the agreements and covenants of said promissory note and this mortgage, and said costs, charges and ex-
~ penses shall be immediatey due and payable and shall be secured by the lien of this mortgage.
7. That they witl keep the improvements now existing or hereafter erected on the mortgaged property insured ps may be
- required (rom time to tiine by the Mortgagee against bss by fire or other hazards, casualties, and contingencies in wch amounts '
and tor such periods as may be required by Mortgagee. and will psy promply, when due, any premiums on weh insuraoce for pay-
ment of which provision has not been made hereinbetore. All insurance.shall be carried in companies approved by Mortgagee '
and the policies and renewals thereof shall be held by Matgagee and have ~ttached thereto loss payable clauses in favpr of a~d
in form acceptable to the Mortgagee, Renewal policies shall be delivered to Mortgagee at fesst 10 days prior Yd'ez~ratiori of exist-
ing poticy. In event oi loss. they will give immediatNy notice by ma~l to Mortgagee, and MoRgagee ma~r make proW of loss N not
made promptly by Mortgagors, and each insurance compsny concerned is hereby authorized and directed to mak0 •payme0t'fCr
such loss directly to Mortgagee instead of to Mortgagors and Mortgagee jointy, snd the insuranoe proceeds. pr any. part thgreqi.
may be applied by Mortgagee at its option either to the reduction of ihe indebtedness hereby secured or to the restoration or re-
pain of the property damaged. 1~ event of toreclosure of this mortgage or other trsnsfe~ of title to tha mprtgaged property in ex-
tinguishm,ent of the indebtedness secured hereby, all rigM, titb and interest of the Mortgagors in and to any insurance policies
then in torce shall pass to the purchaser or grantee. . ~
8. That the Mortgagee msy, at any time pending a suit upon this mortgage, apply to the oourt haviog ju~isdiction ther~.wf
for the appoinfinent of a receiver, and such court shall torthwith appoint a receiver of the premises covered hereby al! and singu-
lar, including all and singular the inoome, profits, issues, and revenues from whateve~ source derived, each and every of which, it
being expressy understood, is hereby mortgaged as if specificaly set fo~th and descritied in the granting and habendum clauses
hereoi, and such receiver shall have all the broad and efiective functions and powers in anywise entrusted by a court to a receiver.
and such appointment shatl be made by such cou~t as an admitted equity and a matter ot absolute right to said Mortgagee, and
without reterence to the adequacy or inadequscy of the value of the property mortgaged or to the sotvency or insolvency o( said
Mortgagors or the defendants. and that such rents, protits,-income, issues and reve~ues shall be applied by such receiver accord-
ing to the lien of this mortgage and practice of such court. .
9. That (s) tn the event of any brcach of this moKgage or detault on the pan of the MoRgagors. or (b) in the event that any
of said sums of money herein refeRed to be not promptly and fulty paid without demand or notFce, or (c) i,n the event that each
and every the stipulations, agreements, conditior~s and cavenants of said ~ote and this mortgage, are not duly, promptly and fulty
performed; then in either or any such eve~t, the said aggregat~ sum mentioned in said note then remaining unpaid, with interest
accrued to that timt, a~d afl moneys secured hereby, shall become due and payable toRhwith, or thereafter, at the option of said
Mortgagee, as tuty and compietely ss if alt of the said sums oi money wvere originaNy stipulated to be paid on sucb day, any-
tbing in said note or in tbis mortgage to the contrary nolwithstandiog: and thereupon or thereafte~, at the option of said Mort-
gagee, without not+ce or demand, suit st law or in aquity. may be prosecuted as if all moneys secured hereby had matured prior '
to its institution. The Mortgagee may toreclose this mortgage, as to the amount so declared due and payaWe, and the•saic!
premises shaN be sotd to satisfy and pay the same together with costs, expenses, and allowances. In cases of partial foreclosure
of this mortgage, the mortgaged premises shall be sold subjeet to the continuing lien of this moKgage for the amount of the debt
not then due and unpaid. In suth casa the provisions of this paragraph may again be availed of thereafter irom time to time by
the Mortgagee.
6o~c288-~
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