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t~nder to the'Mortgag~~e in uccocda~ce with t,l?e provisions of the iroi~ serured hernb~~, full pa~•~n~~nt. o[ the
enlire inJebtedness repreaented therebv, the Mortgagee, aa trus~ee, ahsll, iu con~putii~g the amounL ot surh .
indebtedness~ creclit to tl~e account ot t~~e \lortga~or nn~ credit balance reu~ainiug undi~r the pru~•i~io~~s of (a)
ot said psragrsph 2. l~ tl?ere ah411 be ~ default under ci:~• ot Iho provisioris of thia niorlga~e resulting in a
public s~?le of lhe premiara covereci herebv, or if t!?e V1orlgagre acqutres tl~e properlv otherN•~sc etter default,
the Morlgagee, aa truatee, s1~a11 apply~ at Lhe tui~e of the coin~i?encement of suct? proceeclinge or at tlie timr
the property ~s otherwiae ucyuired~ the amount then ~eu~aining to crcKlil ot Mortgagor und~r (a) ot paragraph 2
preceding as a cre~lit on the intereat accrued and unpaid and the balance to tlie principal then rnu?aiuwg unpaid
on said notr.
4. Sa ~rill pay atl taxee. eeeeesmenta, wstee rates~ and ot6er governanental or municipsl charges, fine~, or
impoeitione, for whieh provieion hae not been made hereinbeton, and in default thereot tbe Mortge~gee may psy tbs
ewme; and th~t he will promptly deliver the o~cial reoeipta theretor to the Mortgagee.
b. He ~rill pee~mi~, oommit. or suBer no Naete, impsirment~ or deteriorstion of eaid property or sny p~ thereof
e~ccepf~ reaeonabb ~reas sad teu; snd in the event of t6e failure of the Mortgagor to keep tM~ buildingie on esi~
premises aad Wase to be erected on aaid premieee, or impmvemente thereon, in good repair the Mortgagee msy
malce sue6 rep~ira ae in ita dieeretion it msy deem neceeeary tor Lhe proper preec.rvation thereo#, and the full amount
ot each and every euch p~yment ahall be due snd p~ysble thirty (30) dsys after demand, and ehsll be secured by
t~he lien of t6is mortgaae.
8. He ~vill pe?y aU and eingulat tbe ooeta, c6argee, aad e:penees, including reasonable lawyer's fee~e, and ooets
of sbetncta of title, incurred or paid at sny time by tbe Mortgagee beceuee of the failure on fi6e part ot the Mortgagor
promptly sad tuUy to pedorm the agreemente and covenanfs oi eaid promieeory note aud this mortgage, and eaid ~
ooets, chargea~ and expensea ahaU be imcnediat~ely due snd payAble and atu~U be eecured by t6e lien of thia mortgage.
7. He will oontinuously maintsin hazard insurance, of such type or types and amounts as Mortgagee msy
trom time to time require~ on the improvements now or hereatter on said premises and e.~cept w6en payment
tor sll auch premiums has theretofore been msde under (s) of paragraph 2 hereof ~e wiU pay pramptly when
due any premiums thcrefor. All insurance shaU be carried in compazueB approve~ by 111ortgagee and the poli-
ciea and renewsls thereof shall be held by Mortgagee and hsve attached thereto loss payable ctauses in favor oi `
and in form acceptablo to the Mortgagee. . In event of loss he will give immediate notice by mail to hiortgagee, s
and 1lortgagee may make prooi ot Ioss if not made pmmptly by Mortgagor~ and each inaurance aompany
ooncerned ia hereby suthorized and directed to make payment for such loas d'uectly to Mortgagee instead oi
to Mortgagor and Mortgagee jointly~ and the insurance proceeds, or any part thereof, may be apphed by Mor~
gsgee a~ ite option eilher to the reduction of the indebtednesa hereby eecured or to the restoraWon or repair of
the property dama&ed. In event of foreclosure of this mortgage or other traasfer of title to the mortgaged
property in extinguishment oi the indebtedness secured hereby, a~l right, title~ end intereat ot the Mortgagor
m and to any insurance policiea then in force ahall p~?sa to the purchaser or grantee.
8. If the premisi~s, or un~- purt thi•reof, tx~ ~•onil~•nineii wuler th~ power of ru~ineni doiuu~n, ur acyuir~•d fur
a public use. the dan~a~es aw•arde~l, th~• pro~•~~~~cls (or th~~ tukinK of, or th~• ~onsid~rution for suc•)~ acquisition, to
tlie estent of the (ull nmount o! tlu~ ri•~naininK unpui~l in~lel,t~~~in~•~ st•rure~d h~• tliis i~iort~age, arc• heml~~-
assi~ned to tlu~ ~tortKaKee, un~l liis h~~in or 4a~1~;115, :u?~I ~hc~ll b~~ pui~l _fortha•it6 to ~uid ~1ortKn~~•~~ or lii.~
xssigncc to lx~ appli~~~l on ac•i•ount of th~~ lust niuturin;; i~~stalliui•n~s of sw•h in~l~•bt~~dn~•~.,: pro~•i~l~•il, huH•~•~•cr,
the ~1ortKuKcc• or hi.s as,siKn~•~•, iuu~- ut I~is ~lis~•r~•tion pu~- ~lirn~•t to th~ ~Ic~rt~;u~;or, his lu•ir. ur ussi~ns un~• part
or all of su~•li ~H•e~r~l; pro~•~d~•d. thut if ttu• luun is ~uur:u?t~~~~~1 ar insur~~d, th~ i•on,~•nt of th~~ guarantor or insur~~r
is obtained in a~lvanc~ of sai~l pu~•nu•nt.
The Mortgagee may, at any time pending a suit upon this mortgage, apply to the oourt having juriadiction
thereof for the eppointment of a receiver, and such eourt ahall torthwith appoint a rec:eiver of the premisea oovered
hereby all arid singular~ including all and singular the income, profita~ issuea, and revenues from whatever source
derived, esch and every of which~ it being expressly underatood~ is hereby mortgaged ae if apeciScally eet forth and
deacribed in the grantiag and habendum clausea hereof. Such appointment shsll be made by such oourt as an admitted
equity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of
the value ot the property mortgaged or to the solvency or insolvency of said Mortgagor or the defendants. Such .
rents, pmSte. -income~ isauea, and revenuea shall be applied by such receiver according to the Gen of thia mortgage
and the prsctice oi such oourt: In the event of any default on the part of tae Mortgagor herennder~ the Mortgagor
agrees to pay to t6e Mortgagee on demand as e rea.gonable monthly rental for the premises an amount at least
equivalent to one-twelfth (3/z) of the aggregate of the twelve monthly installments payable in the then current
year plus the actusl amount of the annual taxes, assessmente, water ratea, and inaurance premiume for such year
not oovered by the aforesaid monthly payments.
10. In t6e event of any b~+eac6 of this mortgage or default on the part of the Mortgagor; or in the evc~nt that
sny of said suma oi 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, oonditione, and ewvenants of said note and this mortgage~
are no~ duly, promptly~ and fully performed; then in either or any such event, the said aggregate sum mentioned
in aaid note then remaining unpaid, with interest acerued to that time~ and all moneya secured hereby, shall become I
due and payable forthwith, or thereafter, at the option ot said Mortgagee, as fully and completely ae if all of the ~ ,
said auma of money wer~ 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 ~r
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 mortqage, as to the amount so declared due and payable, and the said
premiees ahall be sold to satisfy and pay the same together wit6 costs, expenses, and allowancea. In case of partial
foreclosure of this mortgage, the mortgaged premisea shall be sold aubject to the continuing Gen of this mortgage
for the amount of the debt not then due and unpaid. In such caee the provisions of this ~aph may again be
availed of thereafter (rom time to time by t6e l~iortgagee.
11. No waiver of any covenant herein or of the obligation secured hereby shall at sny time thereafter be held
to be a waiver of the terms~hereof or Qf the note secured hereby.
12. The liea of this inbcrument ehall remain in full force and effect during any postponement or extension of
the time of psyment ot tbe indebtedneae or any part thereoi eecured hereby.
1:3. If the Mortgagor default in any of the covenanta or agreemente contsined herein, or in asid note, then the
Mortgagee msy pedorm the same, and all eapenditures (including reasonable attoroey's fees) made by the MortgaRee
in so doing shall draw interest st the rate provided (or in the principal indebtedness, and shall be rnpa~ able
thirty (30) days atter demand, and, together with interest and costs accrued thereon, sl~all be secured by
this mortgage.
14. Upon the request of the :~iortgagee the liortga~;or shall ea~ecute and deliver a supplemental note or
noles (or the sum or sums ad~anced by the ~tortgagee !or the alteration, modernization, improvcment, main-
tenance, or repair of said premises, for taxes or as.aessments agsinst the same and tor aa~ other purpose author-
- ized 6ereunder. Ssid note or notes shall be secured hereby on s parity with and as fully as if the ad~ ance
evidenced thereby were included in the note first described sbove. Said s~~pplemental note or notes shall ~ear
interest st the rate provided tor in the principal indebtedness and shall be payable in a~prorimately cqual
monthly psy ments for such period as mny be agreed upon by the creditor and debtor. Failtng to agree on the
maturity, the whole of the sum or suma so advanced shaU bc due and pa~•able thirty (30) days atter demand
by t6e creditor. In no event shall the matwity extend beyond the ultimate r~aturity ot t6e note first
described above.
`CG'' w~ ?ACE ~'t~
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