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And shall perform. comply with and aide by each and every of the stipulations, a ments,rnrditiora and covenantsset
forth u Urb mortgage and u the prorttiaory note secured hereby, and nay rcnewab or other notes given u accordance herewith.
t.~en fhb awrtpp and rive estate hereby created :hall sass and M null and void.
Ard old Mortgagor for himseU noel hb heirs. lepl rcptesenuUves, waeuors and assign, hereby carvenants and ogees to
and with said Mortgaps, its legal rcpresenutives, wccesson and assigns:
1. To pay all and ritYuiar the prueipal sad interest and tM various and wadry sums of money payable by viriw of sold
promissory aotss, sad fhb mortgage. each and svery, promptly on the days respectively the same become dw. "
2. To pay sU and singular the taxes, assessments, levies, liabUitiea. obUptions and incumbrarrces of every nature and kind
now on said described property. that hereafter may be imposed. wtfered, ptaosd, levied or assessed thereupon. and that hereafter
may be levied or assessed upon this mortgage. the indebtedness secured hereby, or both, each and every. when due and payable
according to law, before they become detinquent, and before aaY interest attacb~s or any penalty b incurred: and u so fu as any
thereo[ is of record the same shall be prompt~Y satWied sad disdrargtd of record and tM orginal ottkW document (such as, for
iratana, the tax receipt or the atbfictioir paper oflleiaUy eadoned of certified) shall be placed is the hands of Yottgsgse with-
in tea days next attet payment.
3. To k said buildirrp. sad nay which may bsreafter be erected upon said premises. iawred egaiast loss or dama/e by
firs and such other hazard: or tbks as may be required by Mortga~ae u wch amount or amounu as may be uirod by aid
MortdsUee. u wch imwance comp.ay or corapania: a 1Qertgape, its srrooeaon or assigns. may approve. sad to deUvsr to aid
itdortppa. as additioatl aecuriry hereto. the poUelea d ssic6 urwaaa and o[ any additional irautana which shall bs taken out
epos such buildup whUe nay part d the iadebtednaa aforeaid shall amaie uop~id. hsviag attached to said policies such wort- 3
ppi~ee iadesnMgr t9ause :s Mortgages shall direct. Itenewab d such policies shall be so ddivaed at kart isw days before any sncb
inwrance shall expiro. AU uwtance carried shall be satisfactory M said Mortgagee. Any wm which may beootae dw under any
wcA policy may be applkd by aid Mortgagee, at iu option. either to reduce aid debt or to repair or replace the improvements '
covered by aW poUcY. Said Mortsasee may procuro sad wbatitute for any and all of the Uatrspee so held ss aforesaid. such
other potiry ar polices d uwrance, u like amount, u it may determine, provided 11o r fails to repkce asy such inwtanoe
within tea days after being notified that the inswing Compagy b no r approved by Mortg~ee. In case of ale under fore-
closure hereof, all such inwrance shall thenceforth, and untU the period of redemption shall expire. be lands gYabk to the
holds[ of the oertificate_ of sale; and in such events sold ~ Mortgag+ee b hereby authorized to cdlect the urrearnpd pmmium.on any
such poUcy it may prise to be cancelled, regardksa of whether aid premium b paid by Yortpgor or Morrttggagee, and apply such
premium towards the payment of premium oa nay wch new iawraocs so payable to the holder d such cariificata.
d. la ase said Mortgagrr shall rreg{ect or refuse to keep said premises u Good repair and condition, to pay promptly when
dw all taxes and.aaessments, as afotsald. or to remove nay statutory Isms on said premises, or to keep the buildiapaad
improvemenu neared. as aforesaid. and deliver the policy or poUcles .of inwrance. or the renewals thereof, to said Mortgagee,as
aforesaid, then aid Mortgagee may, if it shall so elect, make repair. mautau said property and pay such taxes and assessments.
with the accrued uterest. penalties, otfiar's Tess, sad expenses thereon. redeem said premises which may have been sold orfor-
teitsd for axes or assesuneats thereon, purchase any tax title thereon. remove any sututory Dens and prosecute or defend nay
wits is relation thereto. uwre sad keep uwred said building u the wm, u aforesaid. or for any lea wm and for wch time, as
said Mortgagee may deem proper. Any wms which may be so qld out by aid Mort~s~ee, and all wrra paid out for wbstituted
insurance; as aforeald, including the costs, expeates and attorney's fee paid u any suit afiectin6 said real esute, when recces- -
sarY or appropriate to protect the lien hereof, shall bear interest from the date of wch gyments at the same rate as b speafred.
u the note secured hereby, as gyabk after default u payment of said note, shall be qid by said Mortgagor to said Mortgagoe
upon demand and shall be deemed a qrt of the debt hereby secured. and rscoverabk as wct in all respects. Arty such liens
daunt, axes, assessments, or tax titles so rchased, qd. or redeemed by said Mortgagee shall, as between the parties hereto
their successors u uterest, be deemed valid, so that in ao event shall the necessity or validity of any such payments be disputed.
Neither such payateat by Mortgagee nor its collection from Mortgagor shall waive or affect nay option, Lien. equity or right of
Mortgagee's.
S. I[ requested by the Mortgagee, the Mortgagor, together with sad in addition to the monthly payrneats under the terms.
of all rates secured hereby. on the due day of pol monthly paymem and until aid notes ue fully paid, shag pity to the Mort-
gagee as irataUment of rive axes and assessments next to become due against the mortgaged prctrrises. as iastalimeot dpremiums
next to become dw as inwred policies required by the Mortgage. sad nay other charges payable according to the oommitntent
to ftaarrce. Such installments shall be equal respectively to wch taxes and assessments, inwrsna premiums and other chuges. all
as estiwted by the Mortgagee. less all wms already paid thereon, divided by the number of aanths that are to elapse before ores
aanth prior to the date when wch taxes and assessments. iaswaaoe premiums and other clergies will become due. Said install-
meets shall be held by the Mortgagee (beuug the interest for Mortgagor) to pay such taxes, assessments, irtwranee premiums #
and other druges. All gymeau rinds -under the term of this gragaph and order the note scarred hereby shall be added
together and the' aggregate amount thereof shall be paid by the Mortgagor u a single payment each month to be applied by the
Mortgagee u gyma,t d the terms and u the order following: axes and assessments, aod.iawranoe premiums and other I
charges gyable according to the commitment to tunas; (b) intuest on the rates secured hereby; and (c) amortization of the
Principal d said rates. AnY deficiency in the amount d such aggegau monthly gyment shall ooasdtute a default order this
mortgage. When such taxes, assessments, inswsna premiums and other chuges fall due. if the amounu deposited by tits Mort-
gagor for wch purposes arc not wfGcieat to pay said axes, assessmenu. insurance premiums, and other dntges, as the wee may .
be, then due, then the Mortgagor will qy to the Mortgagee wch deficiency immediately. When wch axes, assessments, inwranoe
premiums and other chuges fall due, if the amounts deposited by the Mortgagor for wch purposes exceed the amounts due for
wch taxes, assessrnenu, insurance premiums and other dnrEes. the excess may. in the discretion of the Moripgee, be applied {
on wbsequent monthly paYmenu to be made by the Mortg~or. in the event of dcfault under this mortgage any unexpended
funds u the bards of the Mortpgee deposited by .the Mortgagor to :meet the .obligations of axes, assessments, inwrance
premiums and other charges, shall be applied by the Mortgagee upon the indebtedness hereby secured u the foUowug order;
(a) uterest on sdvanoes made by the hlortgsgee; (b) advances made by the Mortgagee; (c) interest on the principal; and (d) the
j principal debt hereby secured. When any such axes, asseuments. insurance premiums or other chuges fall due the Mortgagor f
will promptly obtau and deliver. to the. Mortgage ststemeats with respect thereto.
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6. The Mortgagor represents and ogees -that this mortgage loan and all future bans eridencsd by the aforesaid promissory
~ rates which arc secured hereby arc made and extended by Mortgagee in reliance, is part, on the financial background and s~il~-
ties of Mortgagor and any co-makers, guarantors or endorsers to. joutly and severally, Pay any and ail various and wrdry sums of
money and the specific rate of~ interest gYable by virtue d said prornissory notes sad this mortgage. These mortgage laara are '
undemood and ageed to be~madc and extended to the Mortgagor only. It b neither prcwmed, expressed or impoed that the
obligations seated herewtder may be aswmad or performed by any poly other than the Aortgagor, whether or not npoa the.
sale or eomeyanx of the premises herein described or any put thereof_ If a rnmeyance should be made by the blo~tgsga of the
premises hereu described. or any put thereof, without the written consent of the Mortgagee, (which consent maybe withheld
arbitran'ty or gaoled on terms selected by Mortgagx u its sole diseretionJ or without aswmpfion bold by proper exewtion of
sswmptioa ageemeab and related forms in use by the Mortgagee sad by aurimptiou u regain form of kw by the grantee of the
obligatara created hereunder, then, u either of those events, and at the option of the Mortgagee and without notice to the Mort-
gagor or to any other party, all wms of money secured hereby thaU imriiediatsly and concurrently and upon wch comeyanoe
become dun and gyabk and in default whether or not the same arc otherwise dw and payabb or u default by the specific ~
terms hereof. The foregoing optba shall be exercised by Mortgagee at its sole and complete ditcrctioai. The aforeaid consent of
E Mortgagee may be either gamed or withheld without any requirement of the Mortgagee disdosing any reason therefore. Not-
withstanding the forego . if the ownership of the mortgaged premises. of any put thereof. becomes vested in a person other
than the Mortpgo~, ht a
Mortgagee may deal with such woassor or wccesson u uterest with reference to fhb mortgagee. and
the debt hereby secured,- rc~dlstt of any change in the terms of the obligatans created bereurder, without in any manner
vitiating or discharging the origsgor's liabi7i'ty hereunder or upon the debt hereby secured. The Mortgagor shall at all times
continue liable for the indebtedness secured hereby until this mortgage is fully discharged or Mortgagor b arrrnlly released by an
instrument u writing duty exewted by the Martgageb.
7. Morttggaaggor. at the option of Mortgagee, shall pay a "late charge" not exceeding twa per centum of any aid aggresate Y
monthly installments including any iraWimeat for payment of taxes and insurance when paid mote than ten days after the due t
date thereof (provided that in no event shall said "late chuge" rewlt in the payment of interest u excess of the maximum
intuest permitted by law). to cover the extra expense uvotved in handling delinquent gyments. Such "lau chuge° sdalt not be
gyabk out of the proceeds of any sale made to atbfy the indebtedness secured hereby, anise wch proceeds ors first wits-.
dent to discharge the entire indebtedness and all proper costs and expenses secured thereby. A reasoaatrle minimum "late charge"
s will be charged m custonurUy fixed by Mortgagee from time to time, and Mortgagor agrees to qy said minimum "late chuge,"
if incurred.. .
8. To permit, commit or wffer ao ware and to maintain the improvements at all times la a suit of goad rspair and con-
dition; and to do or permit to be done to said premises nothing that will alter or charge the use and character of Bird property or
in any way impair or weaken the security of said mortgage. In wee of the refusal, neglect or inability of the Mortgagor to repair
~ and maintain said property, the Mortgagee may at its option make wch repair or cause the same to be made and sdvanae monies
in that behalf whidi wms shall be secured by the lien hereof and bear interest at the same rate as b specified u the note secured
i hereby. as gyabk after default in gyment of said note.
U P.r
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