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tenJer'to ti?e 2riortga{;ee in at•c ante with tl?e provisions of tl?e note sa ;•d hereby, full payn?ent of the
entire indebtedness reprc~?ented thereby, the Mortgagee, as trustee, shall, ul~con?putii?g the amow?t o[ such
indebtedness, credit to the account of the ~iort~agor any rredtt balance remaining under the provisions of (a)
of said paragraph 2. if there shall be a defau t under any of the provisions of tl?is tnortga~e resulting in a
public sale of the premises covered hereby, or if the bortgagee acgwres the property otherwtae after default,
the Mortgagee, as trustee, shall apply, at the time of the canu?encement of such proceedings or at the limp
the property is otl?erwise acquired, the amount then retainingg to credit of Mortgagor under (a) of paragraph 2
preceding as a credit on ti?e interest accrued and unpaid and tl?e balance to the principal then rnu?ainiug unpaul
on said note.
4. He will pay all taxes, saeessmenta, water rates, and other governmental or municipal charges, liner, or
impositions, for which provision has not been made hereinbetore, and in default thereof the Mortgagee may pay the
same; and that he will promptly deliver the o~cial receipts therefor to the Mortgagee.
b. He will permit, commit, or su8er no waste, impairment, or deterioration of said property or any part thereof
except reasonable wear and tear; and in the event of the tailors of the Mortgagor to keep the buildings on sai~
premises and those to be erected on said premises, or improvements thereon, is good repair, the Mortgagee may
make such repairs as in its discretion it may deem necessary for the proper preservation thereof, and the toll amount
of each sad every such payment abaU be due and payable thirty (30) days after demand, and shall be secured by
the lien of this mortgage.
6. He will pay all and singular the costs, charges, and expenses, including reasonable lawyer's fees, 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 lolly to perform the agreements and covenants of said promissory note and this. mortgage, and said
costa, charges, and expenses shall be immediately due and payable and shall be secured by the lien of this mortgage.
7. 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 said premises and except when payment
for all such premiums has theretofore been made under (a) of paragraph 2 hereof, ~e will pay promptlyy when
due any premiums therefor. All insurance shall be carried in companies approved by Mortgages and the poli-
cies and renewals thereof shall be held by Mortgagee and have attached thereto loss payable clauses in favor of
and in form acceptable to the Mortgagee. In event of loss he will glue immediate notice by mail to Mortgagee,
and Mortgagee may make proof of loss if not made promptly by Mortgagor, and each insurance company
concerned is hereby authorized and duected 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 applied by Mort-
gagee at its option either to the reduction of the indebtedness hereby secured or to the restorat?on 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
in and to any insurance policies then in force shall pnsa to the purchaser or grantee.
R. if the PPMI??IylS, ur uu~- port thereof, be condenuu•d under the power of c•n?inent donuun, or acquired for
a public use, the dan?ages a~~•arded• the proceeds for the taking of, or the consideration for such acquisition, to
the extent of the full an?ount of the ren?ainin{~ unpaid indt•bte•:In?•ss securnd b~• this mortgage, am I?ereb~-
ussi{;ned to the ~lortgagc•e, uncl his h?•in ur useigns, and skull iH• paid forthH•ith to said ~lortkagee or Lis
assignee to !x• applied on account of the lust :uuturing instullnu•nts of such inclcbtedm•ss: pro~•ided, hoH•e~•er,
the ~1ortKuKee or I?is assigner, uiu~- ut his discretion pu~• clircct to the ~Iortga{;or, his heirs or assigns un~- port
or all of such aH•ard; pi-o~•ided, that if the to;ui is {~uurunteed or insurecl, the consent of the guarautur or insun•r
is obtained in adyanc•e o[ said pu~•n?ent.
0- 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 prnmisea 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 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 the defendants. Such .
rents, profits, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage
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
'j equivalent to one-twelfth (~2) 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
not covered by the aforesaid monthly payments.
10. In the event of any b_*each of this mortgage or default on the part of the Mortgagor; or in the event that
any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the
event that each and every the stipulations, 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 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-
flora. The Mortgagee may foreclose this mortgage, as to the amount so declared due and payable, and the said
premises shall be sold to satisfy and pay the same together with goats, expenses, and allowances. In case 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
5 to be a waiver of the terms hereof or of the note secured hereby.
( 12. The lien of this in8trument 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.
1:3. 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 all expenditures (including reasonable attorney's fees) made by Lhe 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. -
14. Upon the request of the Mortgagee the ?Mortgagor shall execute and deliver a supplemental note or
notes for the sum or sums advanced Dy the Mortgagee for the alteration, modernization, improvement, main-
_ tenance, or repair of said premises, for taxes or as.~essments against the same and for any other purpose author-
ized hereunder. Said note or notes shall be secured hereby on a 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 ayable in s~proximately equal
monthly payments 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 pa~•able thirty (30) days after demand
r by the creditor. In no event shall the maturity extend beyond the ultimate maturity of the note first
F described above.
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