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tender Lo the 'Mortgagee in acconlauce with the provisions of the rate assured hereby, full pa~•u?eut of the '
entire indebtedness represented thereby, the 141ortgsgee, as trustee, shall, in cou?puting the an?ount of such
indebtedness, credit to the account of the Mort{~agor any credo balance rcu?aining under the proeisia?s of (a)
of said paragraph 2. It tl?ere al?sll be s default under any of tl?e provisions of tl??s tnortga~e result?r?g in a
public sale of the pretnisrs covered 1?ereby, or it tl?e hiortgagre acqutres tl?e property otherwise after deieult,
the Mortgagee, as trustee, shall apply, at tl?e Iin?e of the couunencernent o[ such proceedings or at U?e time !
the property r otherwise acquired, the unount then remainingg to credit of Mortgagor under (s) of paragraph 2
preceding as a credit on the interest accrued snd unpaid and tl?e balance to ti?e principal tl?en ret??air?tr?g unpaid
on said note.
4. Hs will pay all taxes, aaeasmeats, water rates, sad other ~overnmenUJ or municipal charges, tiaert, os
impoaitlona, for which provision has sot been made hereinbetore, and in default thereof the Mortgragee may pay tr+e
tame; and that be will promptly deliver the o8ieial receipts therefor to the Mortgagee.
b. Hs will permit, commit, or suffer no waste, impairment or deterioration of said property or any ~ thereof
except reasonable wear and tear and in the event of the tai~ure of the Mortgragor to keep the buildings on sai~
premises and those to be ereete~ on said premises, or improvements thereon, in good repair the Mortgagee may
make such repairs as in its discretion It may deem neeeeeary for the proper preservation thereo#, and the toll amount
of each and every such payment shall be due sad paysbb thirty (30) days sites demand, and shall be secured by
the lien of this mortgage.
8. He will pay all and singular the costa, ~~r~s, and expenses, Including reasonable Layer's fees, and costs
of abstracts of title, incurred or paid at any time by the Mortgagee because of the tartars on the part of the Mortgagor
promptly and fir to perform the agreements and covenants of said promissory note and thinmo~t~ge, and said
costa, charges, and expenses shall be immediately due and payable sad shall be secured by the lien of t-hia mortgage.
T. He will continuously maintain hasard insurance, of such type or types snd amounts as Mortgagee may
from tune to time require, on the irnpmvemente now or herestter on said premises sad except whoa payment
for all such premiums hen theretofore been made under (a) of paragraph 2 hereof, ?6e will pay promptlyy when
due any premiums therefor. All insurance shall be carrieedd in companies approved by I1lortgagee and the poli-
cies and renewals thereof shall be held by Mortgagee and have attached thereto loss payable ccllauses in favor of
snd in Corm acceptable to the. Mortgagee. In event of loss he will give immediate notice by mail to Mortgagee,
and Mortgagee may make .proof of Toss it not made promptly by Mortgagor, and each insurance company
concerned is hereby authorized and du•ected to make payment for such loss directly to Mortgagee instead of
to Mortgagor and Mortgagee jointly, and the insurance proceeds, or any part thereof, may be app 'ed by Mores
gages at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of
the property dammed. In event of foreclosure of this mortgage or other transfer of title to the mortgaged
property in extinguishment of the indebtedness secured hereby, a~l right, title, and interest of the Mortgagor
ra and to any insurance policies then in force shall pass to the purchaser or grantee.
8. If the preiuis~s, or ores part tl?errof, be condeuu?ed under the power of eminent dowan?, or acquired for
a public use, the dan?ages aHanled, the proceeds for tl?e takinKK o[, or the consideration for such acquuitiou; to
the extent of the full amount of the mn?sining unpaid iudeiitedness assured br this nortgage, are hereb~-
assigned to the Mortgagee, uud his 1?eirs or :?ssigns, uud Shull iH• paid forthN•'itl? to said Mortgagee or I?is
assignee to be applied on ac?•ount of the lust n?uturing installnu•nts of such indebte<Iness; provided, hoKe~•er,
the ~fortgugee or his assignee, uiu~- ut his discretion pad- dir?•?•t to thr ~fortgngor, his heirs or assigns un~• part
or all of such a~~•urd; pro~•aled, that if the loan is guaranteed or insured, rho consent of the guarantor or insurer
is obtained in advance of said pu~•n?eut.
9. 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 s 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 as if specifically set forth and
described in the granting and hsbendum 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 the defendants. Such
rents, proSts. income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage
and the practice of such court. Ia the event of any default on the part of the Mortgagor hereunder, the Mortgagor
f agrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount at least
equivalent to one-twelfth of the aggregate of the twelve monthly installments payable in the then current
P year plus the actual amount of the ann al taxes, assesaDnente, water rates, and insurance premiums for such year
~ not covered by the aforesaid monthly payments.
]0. In the event of any beach of this mortgage or default on the part of the Mortgagors or in the event that
any of said sums of money herein refereed to be not promptly and fully paid according to the tenor hereof, or in the
~ event that each snd every the atipulationa, agreements, conditions, and covenants of said note and this mortgage,
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
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 o[ 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-
tion. The Mortgagee may foreclose this mortgage, as to the amount so declared due and payable; and the said
ppremises shall be sold to satiety and pay the same together with costs, expenses, and allowances. In case of partial
for+ecloaure 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 tbe terms bereof 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
c the time of payment of the indebtedness or any part thereof secured hereby.
l:i. If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then the
Mo may perform the same, and all a:penditures (including reasonable attorney's fees) made by the Mortgagee
r in sort 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.
l4. Upon the request of the Mortgagee the titortgagor shall execute and deliver a supplemental note or
r notes for the sum or sums advanced Dy the titortgagee for the alteration, modernization, improvement, mnin-
tenance, or repair of said premises, for taxes or assessments against the same and for any other purpose author-
ized hereunder. Said note or notes shall be secured hereby on s parity with and as fully as if 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 payable in approximately equal
monthly pa merits 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 after demand
by the creditor. In no event shall the maturity extend beyond the ultimate maturity of the note first
i described above.
a'f 3U4 ~A~E2154
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