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And shsU perform. comply with snd chide by each cad every of the stipulations, a ments.conditioas and covenants set
forth in this mortgage and is the promissory smote secured hereby. and any reaewab or o sr notes prey u accordance herewith.
then this mortgages cad the estate hereby created shall cease and be null and void.
And said Yortgsga for himself and his heir. kp! rcprosentadres. wecawrs and assipts, heroby cas?renaats and agrees to
and with said Yorigagee, its k8a1 ropnseatatives. successors and assigns:
1. To pay all and singular the prudpal cad interest and the various and wadry gums of matey Payable by virtue o[ said
promissory notes. cad thh mortgage. each and every. prompdy oa the days rospectively rite rams become due. '
2. To pay all and sugular the taxes, assessments, leeks, Usbilities, obliptioro sod incumbcartces of every nature cad lead
now on said described property, that hereafter may be imposed. wffered, placed, levied of atx:fed theroupon. and that herafter ~
may be levied or assessed upon this mortgage, the indebtedness secured Mroby. or both, each cad every. whey due and payable ;
according to law, before they become delinquent, and before any interest attaches or any penalty b ucurnd; and in so fu as any ~
thereof is of record rite same shall be promptly satisfied and disdutrgRd of roeord and the orginal odiciai document (wch as, for
• ustaaoe, rise tax receipt or the satisfaction paper otfldaUy endorsed or certified) shall be placsid is the beads of Mortgagee with-
in ten days next after payment.
3. To keep said building, and any which may hereafter be erected upon :aid premiss:. usuned agaust tom or damage by
face and such other hoards or tasks as may be required by Yortgape in such amount or amounts a: may be aired by said
Yortgape, u suds inwtaaoa wmpaay or companies ss Yatgagree, its wceesson or assipts, may approve, cad to deliver to said
Yoripyse, a additional security hereto. the policks of suds inwranoe cad of any additional iowraaa wbkh :ball be Wcea out
upon wch buildup while coy Part of lire ebtedness aforosaW shall romau unpaid. havug atutdted to aaW poUcks wch wort-
pge iadestwigr c4use ss Mortgagee shall diced. Renewab of sorb pdicies shall be so delirerod at leaf tea days be(ae ray wdt
tnsuranoe shall expire. AU uwranoe artkd shall be satisfactory to said Mortgagee. Aay mom wbid? may become due under acgr
such pdky may be applied by said Yortpgee, at its option, either to reduce said debt onto repair or replace the improvements
covered by said pdky. Said Yortgsgee may ptocuro cad wbstitute for any cad sU of the inwrytce ao held as aforedd, such
other poUcy err policies of usutaaoe, in like amount. ss it may determine. provided Mo fgoor fails to replirca a~ such inwrartoe .
within ten days after beiug notified that the Insuring Company is no to r approved rtby~ll/ortgagee. In case or sale under fora i
closure hereof, all such uwnance shall thenceforth, and until the period of redemption shall expire. be mde payable to the ;
holder of the certificate of sale; and in such events said Mortgagee is?ieroby authodted to cd1eM the uncurled premium on any
wch pdicy it may cause to be cancelled, regardless of whether said premium a paid by Itlorigagor.or Yort~a=~e, and apply such
promfum towards the payment of premium on any wch new uwranoe so payable to the kidder o[ suCh.oertiflate.
4, la ate said Moripgor ahaU rtegkct or refuse to keep said premiss: in good repair and oonditiat, to pry promptly when
due all taxes cad aatessttteats, as aforesaid. or to remove any statutory liens on said premises. of to keep the bui{dinp and
improvements ucured, ss aforesaid, and deliver the poUcy or policies of inwance. or the renewals tberoof, to said YortgagRe,as
aforesaid. rhea said Mortgagee may. it it shall so elect. make rogin. mautain said property aired qy such taxes cad assessateats,
with the accrued utecest. penalties, officer's tees, and expenses thereon, redeem said premises which stay have been sold afor- j
felted for taxes a assessments thereon, purchase any tax tick thereon, romove any statutory Uens and prosecute or daferd any
attars in relation thereto. inwre and keep uwred said building u the mom, u aforesaid, of for any less mom and for such time, ss
said Mortgagee may deem proper. Any sums which may be so qid out by said Mortgagee, cad all moms paid out for wb:tituted
insurance; as aforesaid, including the costs, expenses and attorney's foe paid u any wit sffecttng said real-estate. when staes-
sary or appropriate to protect the lien hereof. shall bear interest from the date of wch gyments at the same rate as is spscifted,
in the rate secured hereby. as gyabk after default in payment of said note, shall be paid by said Mortgagor to said Mortgagee
upon demand ud shall be deemed a qri of the debt hereby secured, and recoverable u wch u all respects. Any wch liens
daims, taxes, asaeuments, or tax titles so purchased, qid, or redeemed by said Mortgagx shall, as between the griies hereto
their succeuon u interest. be deemed valid, so ihaCin no event shall the necessity or validity of any_such gyments be disputed.
Neither such payment by Mortgagee nor its collection from Mortgagor shall waive or affect any option, lien, equity or right of
Mortgagee's.
S. I( requested by the Mortgage the Mortgagor, together with and in addition to the monthly gymeats under the terms
of all notes stxxrnd hereby, on the due day of each monthly payment and until said notes ue fully paid, shall qy to the Yort-
gaSa an installment of the taxes and asxssments next to become due against the mortgaged premises. an iastallrttent of premiums
next to become due on inwred policies required by the Mortgagee. and gay other charges payable aceordigg to the commitment
to finance. Such inttallments shall be equal respectively to wch taxes and assessments, usurana premiums cad other dtugies, all
as estimated by the Mortgages, less all moms already paid thereon, divided by the number of monWs that arc to elapse before one
month prior to the dots when wch taxes and asxtsments, insurance premiums and other dtugRS will become due. Said install-
ments shall be held by the Mortgagee (beuiag the utenst for Mortgagor) to pay such taxes, assessments. insurance prcatiums .
ud other dtuges. AU payments made under rho term of this paragraph cad under the note seared hereby shall be added
together and the aggregate amount thereof shall be paid by the Mortgagor u a single paymwt ads monW to be applied by the.
Mortgagee in gymedt of the terms and in the ordsr following: (a) taxes cad asseurtteats, and insuranor premiums and other
charges gyabk aaording to the commitment to fmanoa; (b) uterest on the notes securod hereby; and (c) antortinatan of the
princigl of said notes. Aay deficiency u the amount of wch aggegate monthly payment shall eortstitute a default under this
mortgage. When such taxes, assessments. inwtana premiums and other chuges fall due, if the amounts deposited by the Mort-
gager for such purposes arc not wfficient to pay said taxes, assessments, insurance premium;, and other charges, as -the ax may
be, then due. then.the Mortgagor will pay to the Mortgagee wch deficiency immedutety. When wch taxes. assessments, insurance
premiums and other chugs fall due, if the amounts deposited by the Mortgagor for such purposes exceed the amounts due for
~ wch taxes, asseuments. inwrutce premiums and other chuges, the excess may, u the discretion of the Mortgagee. be applied
on subsequent monthly payments to be made by the Mortgagor. In the event of default under this mortgage any unexpended
funds u the hands of the Mortgagee deposited by the Mortgagor to meet the obligations of taxes. asse:,unents, inwrance
premiums cad other charges, shall be applied by tht: Mortgagee upon the indebtedness hereby savrod in the ToUowit>a order-
. (a) interest on adranas made by the Mortgagee; (b) advances made by the Mortgagee; (c) interest on the principal; cad (d) the
principal debt hereby secured. When any such taxes, assessments, insurance premiums or other charges fall due the Mortgagor
will promptly obtain. and deliver to the Mortgagee statements with respect thereto.
6. The Yortpgor rcpcexnts and agrees that this mortgage loan and all futon loans evidenced by the aforesaid promissory
rates which ue secured hereby arc made cad extended by Mortgagee in reliance, u part. on the futaacial badcgrouad cad abili-
ties of Mortgagor and gay co-waken, guacuttors or eadasen to, joudy ud xveraUy, pay any and all various and wadry sums of
money and ibe specific rate of interest gyabk by virtue of said promissory notes and this mortgage. These mortgage loans arc
understood cad a~eod to be made and extended to the Yortgasor only. It is neither presumed, expressed or implied that the
obligations crated hereunder may be aswraed or performed by gay poly other dtan the Mortpgor, whether or not upon the
sale or oonreyana of. the premises haeu described or gay part thereof. If a conveyance should be made by the Mortgagor of the
pnmtsea herein descn'bed, or any put thereof, without the written consent of the Mortgagx, (which consent may be withheld
ubrirarily or granted on terms xlected by Mortgagee u its sole discretanJ or without assttroptbn both by proper exeation of
aswmption agreemeets and related forms in use by the Mortgagee and by aswmption u cegtrtu form of law by the grantee of the
obligations created hereunder, then, u either of thox events, and at the optan of the Yortgagoe and without notice to the Mort-
gagor oc to any other Party, all sums of money seared hereby shall immediauly cad ooncttrreatly cad upon wch conveyance
become due and gyabk cad u default whether oc not the ntae are otherwise due and gyabk or u default by the:pecific
terms hereof. The forcgoirtg option shall be exercised by Mortgagee at its sole and complete discretion. The aforesaid conxnt of
Mortgagee may be either grafted or withheld without :,ty rcquircmeat of the Mortgages disclosing gay reason therefore. Not-
withstartdirg the foregeictg, if the ownership of the mortgaged premix:, or any put thereof, becomes rested u a person other _
than the Mortgagor, the Mortgages may dal with snch waxmor of wceesson u interest with retereoce to this maw. and
the debt hereby secured, rcprdless of any charge u the arms of the obligatans crated hercurder, without in any.msnner
vitiating a discharging the Mortgagor's liability hereunder or upon the debt hereby secured. The Mort~goc shall at all times
continue liable fa the indebtedness secured hereby until this mortgage is fully discharged or Mortgagor is formally released by an
instrument in writug duly executed by the Mortgagee.
7. Mortgagor, at the optan of Mortgagee, shall pay a "fate charge" not exceeding two per centum of any said aggregate
monthly installments including any installment for payment of taxes and insurance when paid men than ten days after the due
[ date thereof (provided that in no event shall said "late cftuge" result in the payment of uterat u excess of rite maximum
interest permitted by law), to corer the extra expense evolved in handUng delinquent gyments. Such "late dtugs° shall not be
gyabk out of the proceeds of any sale made to satisfy the indebtedness second hereby. uolas wdt proceeds art fiat wffi-
dent to discharge the entire indebtedness and all proper costs and expenxs xcured thereby. A rasonabk minimum "late charge"
will be charged as customuily fixed by Mortgagee from time to time, and Mortgagor agrees to qy said muimum "late chuge; '
if incurred.
8. To permit, commit or wffer no waste cad to maintain the improvements at all times u a state of good re and con-
dition; and to do or permit to be done to said premises nothing that will alter or change the use utd chuacter of said property or
in any way impair or weaken the sacudty of said mortgage. in arc of the refusal. neglect of irtahility bf the Mortgagor to repair
and mautaia said property, the Mortgagee may at its option make wch ngir or cruse the same to be made and advance mouses
u that behalf which moms shall be secured by the lien hereof and bee interest at the same rate :s le spocifsed u the note savred
hereby, as gyabk after default. u payment of said note.
a ~K 303 QaCE19fi4