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pri~cipal sum and accrued interest shall beco~~~e due and payable w~tliout notice at the option of the nolder the~eof. And shaN
duly, promptly, and /utly perform, discharge, execute, eftect.~co~nplete, and comply w~th and abide by eacl~ and every the stipu•
lations, ag~eements, conditions, an~1 cove~ants of said promissory note and this monaage, then this mortgaBe and tlie estate
hereby created shall cease and be null and void.
And fhe Martgagors tunher covenant as tolbws:
1. That they will pay 1he indebtedness, as herein~etore provided.
2. 7i~at. in order more tully to protect the security ot this mortgage, tAe Mortgagors, together with and io addition to, the
monthly paymeots under the terms of any notes secured hereby, on the tirst day oi each month until said note is tuliy peid, wiil
pay to th! Mortgagee the tollowing sums:
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(b) All payme~ts inentioned in the preceding su~section of this pa?agraph and all payments to be made unde~ any note
secured hereby shall be added together and the aggregate amount thereot shall be pa~d by the Mongagors each month in a
single payment to be applied by the Mortgagee to the tollowing items in the order sei forth: ~
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11. Intercst on the note secured hereby; and .
III. Amortization of the principal oi said note.
~ Any de(iciency in iha amount oi such aggregate monthy payment shall, unless made good by the Mortgagors prior to the due
date of the next sueh payment, constitute an event ai default under this mortgage. The Mortgagee may collect a"late charge"
not to exceed two cents (2t) for each dollar of each payment more than fifteen (15) days in arrears to cove~ the extra ex•.
pense involved in handling delinquent payments. .
3. That if the total of the payments made by the Mortgagors under (a) of paragraph 2 preceding shall exceed the amount
of payments actualty made by the Mortgagee, !o~ taxes a~d assessments and insurance premiums, as the case may be. such
eii~cia aliuii uc ~ic°viicv v~ iii~ ~CSi6f'.6$C v.^. ~::~3.~L°ff! ~3~.^.?E!!te t~ tx? made by !he Mortgat[ors. N, however, the monthry paY-
ments made by the Mortgagors under (a) of paragrapb 2 preceding shall not be suiticient to pay taxes and assessments and in-
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 amount necessary to make up the deticiency, on or before the date when payment ot such taxes, assessments, or insur-
ance premiums shait be due. If at~any time the Mortgagors sha!! tender to the Mortgagee in accordance with the p~ovisions of the
note secured hereby, tull payment of the entire indebtedness represented thereby, the Mortgagee shall, pay to the Mortgagors all
amounts then remaining in tbe taz and iosurance escrow account held in connection with this loan. Ii there shall be a default
under any of the provisions of this mortgage ~esulting in a pubtic sate of the premises covered hereby, or if the Mortgagee acquires
the property otherwise aft~r default. the Mortgagee shall apply, at the time of the commencement of such p~oceedings or at the
time the property is otherwise atquired, the balance then remaining in the funds accumulated under (a) of paragraph 2 preceding
as a credit against the amount oi principal then remaining unpaid unde~ said note. ' ~
4. That they will pay all taxes, assessments, water rates, and other governmental o~ municipal charges, tines, or imposi-
tions, tor which provision has not been made hereinbefore, and in ~default thereof, the Moitgagee may pay the same and be
secured by the lien of !he mortgage; and that they witl promptly deliver the official receipts therefore to the Mortgagee.
5. That they will permit. commit, or suNer no waste, impairment, or deterioration of said property or any paR thereoi; and
in the.event of the faifure of the Mortgagors to keep the buildings or said premises and those to be erected on said premises, or
improvements thereon, in good repair, the Mortgagee may make such repairs as in its discretion it may deem necessary for the
proper preservation thereof, and the full amount oi each and every such paymen! shal! be immediately due and payable, and
shal! be secu~ed by ihe lien of this mortgage. _
6. That they wil! pay al! and singular the costs, charges, and expenses, including reasonable lawyers fees, and costs of
abstracts of title, incur~ed or paid at any time by the Mortgagee because of the failure on the part of the Mortgagors promptly
and fulfy to periorm the agreements and covenants oi said promissory note and this mortgage, and said costs, charges and ex-
pe~ses shall be immediately due and payabfe and shall be secured by the lien of lhis mortgage.
7. That they wilt keep the improvements now ezisting or hereafter erecied on the mortgaged property insured as may be
required from time to time by the Mortgagee against los"s by fire or other hazards, casualties, and contingencies in such amounts
and for such periods as may be tequired by Mortgagee, and will pay promptly, when due, any premiums on such insurance 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 Mortgagee ared have attached thereto loss payabte clauses in favor of and ~
in form acceptable to the Mortgagee. Renevral policies shall be delivered to Mortgagee at least 10 days prior to expiration of exist-
ing policy. In event of toss, they will give immediately notice by mail to Mortgagee, and Mortgagee may make proof of loss if not
made promptly by Mo?tgagors, and each insura~ce company concerned is hereby authorized aAtl directed to make payment for
such loss directly to Mortgagee instead of to Mortgagors and Mortgagee jointly, and the insurance proceeds, or any part thereof,
may be applied by Mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or re-
pairs oi the property damaged. In event of toreclosure of this mortgage o~ other transier of title to the mprtgaged property in ex-
tinguishment of the indebtedness secured hereby, all right, titte and interest o(tF~e Mortgagors in and to any insurance policies
then in force shall pass to the purchaser or grantee.
8. That the Mortgagee may. at any time pending a suit upon ihis mortgage, apply to the court having jurisdiction thereot
for the appointment of a receiver. and such court shalt foRhwith appoint a receiver of the premises cove~ed bereby all and singu-
lar, including all and singular the income, profits, issues, and revenues t~om whatever source derived, each and every of which, it
being expressly understood, is hereby moRgaged as if specificatly set forth and described in the grant+ng and habendum elauses
hereof, and such receiver shall have aN the broad and eNective functions and powers in anywise entrusted by a court to a receiver,
and 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 adequaq or inadequacy of the value of the property mortgaged or to the solvency or inso(vency of said .
Mortgagors or the defendants, and that such rents, protits, income, issues and revenues shall be applied by such reteiver accord-
irtg to the lien of this mortgage and practice of such court. ~ -
9. Thai (a) in the eveat of any breach of this mortgage or default on the part of the Mortgagors, or (D) in the event that any
of said sums of money herein reterred to be not promptly and fuliy paid without demand or notice, or (c) in the event'that each
and every the stipulations, agreements, conditions and cavenants of said note and this mortgage, are not duly, promptly and tuily
periomied; then in either or any such event, the said aggregate sum mentioned In said note then remaining unpaid, with interest
accrued to thai time, and all moneys secured hereby, sball become due and payable forthwith, or thereafter, at the option of said
Mortgagee, as fulfy and completely as if all ot the said sums oi money were originally stipulated to be paid on such day, any
thing in said note or in this mortgage to the contrary notwithstanding: and thereupon or thereafter, at the option oi said Mort- #
gagee, without notice o~ demand, suit at taw or in equity, may be prosecuted as if a!! moneys secured hereby had matured prio~
to its instiiution. The Mortgagee may foreclose this mortgage, as to the amount so declared due and payable, and the said ~
premises shall be sold to satisty and pay the same together witb costs, expenses, and allowances. In cases of partial foreclosure
of this mortgage, the mortgaged premises shall be sold subject to the continuing Iien ot this mortgage for the amount of the debt
not then due and unpaid. In such case the provisions ot this paragraph may again be availed oi thereaRer from time to time by
the Mortgagee. - `
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