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tender to the ~lortga{;ee in accordance with the p uv?swns of tl?e note secured llrrrb~•, full payment of the
entire indebtedtteaa repn•sented therebvti the :Norlgag~ee; 4~ trustee, shall, in computing the amount of such
indebteduess, credit to the account of tl?e Mortgagot any credit balance remaining under the pruvisious of (a)
of said paragraph 2. It there shall be a default under any ut the provisions of tl?is n?ortga~e resulting in a
public sale of the prem~ges covered hereby, or if the Mortgagee acqutrea the property otherw?se after default,
the Mortgagee, as trustee, shall apply, at the tune of the cotuu?encement of such proceedings or at the limp
ti?e property is otl?erwise acquired, the amount then remainingg to credit of Mortgagor under (a) of paragraph 2
preceding as a rredit on the tnterest accrued and unpaid and tl?e balance to the pruu?pal then n•u?ainu?g unpaul
on said note.
4. He wiU pay all taxes, assessments, water rates, and other governmental or municipal charges, finer, o=
impositions, for which provision has not been made hereinbefore, and in default thereof the Mortgagee m+Y PaY ~
same; and that he will promptly deliver the official receipts therefor to rho Mortgages.
b. He will permit, commit, or suffer no waste, impairment, or deterioration of said property or anp part thereof
except reasonable wear and tear; and in the event of the failure of the Mortgagor to Keep the buildingis on ssi~
premises and those to be erected on said premises, or improvemeata thereon, in good repair, tte Mortgagee may
make such repairs as in its discretion it rosy deem necessary for the 3pOro days after demand,, antd shall be sect ured by
of each and every such payment shall be due and payable thirty ( )
the lien of this mortgage.
6. He will pay all and singular the costs, charges, and expenses, including reasonable lawyer's tees, and costs
of abstracts of title, incurred or paid at any time by the Mortgagee because of the failure on the part of the Mortgagor
promptly and fullyy to perform the agreements and covenants of said promissory note and thiamortgage, and said
costa, charges, and expenses shall be immediateljr due and payable and shall be secured -by the lien of thhi?ss mortgage.
He will continuously maintain hazard insurance, of such type or_types and amounts as Mortgagee may
from time to time require, on the improvements now or hereafter on sand premtses, and excc+pt when payment
for all such premiums has theretofore been made under (a~ of paragraph 2 hereof he will pay promptly when
due an renuums therefor. All insurance shall be carrieedd in companies approve by Illortgagee and th vor of
else and renewals thereof shall be held by Mortgagee and have attached thereto loss payable clauses in t
and in form acceptable to the Iliortga~ee.. In event of loss he will give immediate notice by mail to Mortgagee,
and `iortgagee may make proof of loss ri not made promptly by Mortgagor, and each insurance company
concerned is hereby authorized end directed to make payment for such loss directly to Mortgsgee~'b Mo ~
to Mortgagor and Mortgagee Jointly, and the insurance proceeds, or any part thereof, may be app y
gages at its optton ether to the reduction of the indebtedness hereby secured or to the restoration or repair of
the property dammed. In event of foreclosure of this mortgsgealloirigh ~t~tie and infterest of the Mort~ga~go~r
property to exttngutshment of the indebtedness secured hereby, ,
in and to any insurance policies then in-iorce shall p~?sa to the purchaser or grantee.
R. If the premises, or uu~~ port themuf, Ix• condeuu?ed w?der tl?e power of en?inent dau?uu?, ur acquired for
a public use, tl?e dawages ae•arded. the pnu•eeds for the taking of, or the considerutiun for such acyuwttwn, to
the extent of the full au?ount of the ren?uining unpaid indebtedness secured h~• thug n?ortguge, am 1?ernby
ussi{~ued to the \lortgagec. and hi: belts ur ??si~n:.:uul .hull he paid forti?~~•ith to said ~lortgugee or 1?ts ,
assignee to lx• applied on account of the lust u?uturin~ in;talhucnts ?~f ,uch indchtedneti: pn?~•idcd, I10\\"l'e'er,
the ~lortgugee or iris :?a~ignec, niu~- u1 his dis,•re•tiun p:?~~ direct to the ~hortgugor• his heit~ ??r ussirt?s at?y port
or all of such u~~~ard; pro~-uled, that if the H?;u? is {:u:u•untec,l ~?r insured, the consent of the guarantor or insurer
is obtained in ad~•ance of said paynu•nt.
'J. The Mortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdiction
thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered
hereby all and singular, including all and singular the income, profits, issues, and revenues from whatever source
derived, each and every of which, it being expressly understood, is hereby mortgaged sa if specifically set forth and
described in the granting and habendum clauses hereof. 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 adequacy or inadequacy of
the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or t'.?e defendants Such
rents, profits, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage
E and the practice of such court. In the event of any default on the part of the Mortgagor hereunder, the Mortgagor
~ agrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount at least
equivalent to one-twelfth (~z) of the aggregate of the twelve monthly installments payable in the then current
year plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year
r not covered by the aforesaid monthly payments.
10. In the event of any beach of this mortgage or defa~dt on the part of the Mortgagor; or in the event that
k any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, or iq the
i event that each and every the stipulations, agreements, conditions, and covenants of said note and this mortgage,
m are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned
in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become
i due and. payable forthwith, or thereafter, at the option of said Mortgagee, as fully and completely as if all of the
said sums of money were originally stipulated to be paid on such day, anything in said note or in this mortgage to
the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice or
demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had matured prior to its institu-
lion. The Mortgagee may foreclose this mortgage, as to the amount so declared due and payable, and the said
premises shall be sold to sat?sfy and pay the same together with costs, expenses, and allowances. In cage of partial
foreclosure of this mortgage, the mortgaged premises shall be sold subject to the continuing lien of this mortgage
~ for the amount of the debt not then due and unpaid. In such case the provisions of this paragraph may again be
availed of thereafter from time to time by the Mortgagee.
11. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held
to be a waiver of the terms hereof or of the note secured hereby.
~ 12. The lien of this instrument shall remain in full force and effect during any postponement or extension of
the time of payment of the indebtedness or any part thereof secured hereby.
1a- If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then the
Mortgagee may perform the same, and aU expenditures (including reasonable attorney's fees) made by the Mortgagee
in so doing shall draw interest at the rate provided for in the principal indebtedness, and shall be repayable
~ thirty (30) days after demand, and, together with interest and costs accrued thereon, shall be secured by
this mortgage.
r 14. Upon the request of the Mortgaggee the Mortgagor shall execute and deliver a supplemental note or
notes for the sum or sums advanced by ttte Mortgagee for the alteration, modernization, improvement, main-
tenance, or repair of said premises, for taxes or assessments against the same and for say other purpose autl?or-
iced hereunder. Said note or notes shall be secured hereby on a parity with and as fully as i[ the advance
evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear
interest at the rate provided for in the principal indebtedness and shall be syable in approximately equal
monthly pa menu for such period as may be agreed upon by the creditor and debtor. Failing to agree on the
maturity, the whole of the sum or sums so advanced shall be due and payable thirty (30) days alter demand
by the creditor. In no event shall the maturity extend beyond the ultimate c~eturity of the note first
described above.
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