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Leader to the 'Mortgagee is accordance witl? the provisions of tl~e note secured hereby, full payment of the
entire indebtedness represented thereby, the Mortgagee, as trustee, shall, in computing the amount of such
indebtedness, credit to tl~e account of the Mortgagor any credit balance remaining under the provisions of (a)
of said ph 2, It there shall be a default under any of the provisions of the mortgage resulting in a
public sale o the premises covered hereby, or it tl?s Mortgagee acquires the property otherw»e after default,
the Mortgagee, as trwtee, shall appiy~ t'~1?e. time,a~ t}~p cotnrnencemcnt of such proceedings or at tine time
the property s! otherwise acquired, t1a~s~unt then'rei~~niag to credit of Mortgagor under (a) of parag»ph.2
preceding as a credit on the interest accrued and unpaid and the balance to the pnacipal then remunmg unpud
on acid note.
Se will pay all taxes, aasessoseats, water rates, and other veramental or municipal charges, ~Sas~ ot:
impodtions, foe which provision bas not been made beniabetore, aad~ defauk thereat the Mottles may pay the
same; and that !M will prompt>r1? deliver tbs official receipts tber~ar to tbs Mortgages.
g. Bs will permit, commit, or sutler no waste, lm t, a deterioration of ea~id property or as thereat
except reaaoaabis went and tear and la the event of~tbe
failure of tbs M~rt~or to keep the builder o~n sai~
premises and those to be ereote~ on said pceanises, or improvemenb thereon, 3n-good repair the Mort~ee ao?U?
of eao6 aadneve~ty ~
h i~ ~
s~~hall be~due~ind ft6itt~(g0
~Sd~e~ndand s~6aU~ by
the lip of this mottp~e.
6. He will pay all and dagular the oasts„ and eocpeoses, including reaeooaWs lawyer's tees, and cods
of abstracts of title, iaourrod or paid at aqp time
~?y~ostdrgee because of the failure oa the part of the Mortgs~o~
promptly and fury to perform the ag<eements sad ooveaants of said promissory note and this. mo ,and
coats, oharaes, and expenses shall be irnisedistebr due sad payable sad ahau be secured by the lien of this mortis.
7. He will oontiauousbr maintain hasard insurance, of such type or types sad amounts as Mortgagee may
from tune to time require, on the improvements now or hereafter on said premises sad esoept when payment
for all such remiums has theretofore been made under ~(a of parag» h 2 hereof ~e will Pay Promptly when
due nay premiums therefor. A11 insurance shall be canrisd in compare
es aPProve~ by M ~gag~ and the poli-
cies sad renewals thereof abaU bs held by Mortgagee 4ad have attached thereto loss payabo
1e
c,Tauses in favor of
sad inform acceptable to the Mo In event of has be will give immediate notice by
mail to Mortgages,
and Mortgages may make :proof~~ it not made promptly by Mortgagors and each lnsuranoe company
concerned is hereby authorized and directed to make payment for such loos du+ectlp to More instead of
to Mortgagor and Mortgagee 'ointlyy, and the insurance proceeds, or nay part thereof may be applied by Mort-
gages at its option either to ~e reductla~of the indebtedness hereby secured or to t~e restoration or repair of
the properip dammed In event of foreclosure of this mortgage or other traaafer of title to the mortgaged
property ~n extingurshment of the indebtedness secured hereby, ab right, title, and interest of the Mortgagor
sa sad to aqy insurance policies then in force shall pys to the purchaser or grantee.
8. It tl~e premises, or any part thereof, be rondewnecl under tl?e power of eminent don~am, or acquired for
a public use, flee damages awarded, tl~e proceeds for tl~e taking of, or the consicicration for such acqu~sttcon~ to
the extent of the full amount of the remaining unpaid indebtedness serurecl by tli~s mortgage, arc 1?ereb~•
assigned to the vfortgagee, and hie heirs or assigns, and shall Fx~ paid forthwith to said Mortgagee or hrs
ass~gn~ee to be applied on account of the last niaturu~g installments of such indebtedness; provi,lecl, however,
the Mortgagee or h~a assignee, mad at- his discretion pay clirrc•t to the Mortgagor, his heirs or assigns any part
or all o[ such award; provided, that if the loan is guaranteed or insured, the consent of the guarantor or insurer
is obtained in advance of said payment.
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 absll forthwith appoint a receiver of the premises covered
hereby all grid singular, including all and singular the income, profits, issues, sad avenues from whatever source
derived each and every_of which,_it being expresely_ andeiei~od,3ahereby_mortgaged.as.if apsciscally-set Wsth sad -
deectibedin
tie
wanting area haabeaaum clsueea hereof. Such appointment shall be made by such court as an admitted
equity sad a matter of absolute right to said Mortgagee, sad without reference to the adequacy or inadequacy of
v the value of the property mortgaaed or to the solvency or insolvency of said Mortgagor or t' a defendants. $uch
rents, profits, income, ~asues, sad revenues shall be applied by such receiver aooording to the lien of this wort;age
j sad the practice of such court. Tn the event of any default on the part of the Mortgagor hereunder, the Mor1t~
agrees to pay to the M on demand as a reasonable monthly rental for the premises as amount at
equivalent to one-iwelf tho of the a~r~ato of the twelve monthly installments payable in the then crureat
year plus the actual amount of the annual tease, »eesements, water rates, sad inwranos premiums for ouch yea
not covered by the aforesaid moathiy payments.
R 10. In the event of any breach of this mortgage or default oa the part of the Mortgegorr or in the event that
i any ~ said sums of money herein referred to be not promptly sad fully paid according to the tenor hereof, or in the
~ event that each and every the stipulatioffi, agreements, conditions, and covenants of said note and this mortgage.
are not duly, 1~1~Y. sad fatly performed; then in either or any such event, the acid aggregate sum mentioned
is said note then remaining unpaid, with interest aocnred to that tame, and sU 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 wen originally stipuLted to be paid oa such day, anything in said note or in thin mortgage to
the contrary notwithstanding; sad thereupon or thereafter, at the option of said Mortgagee, without notice ce
demand, suit st law or is equity, may be prosecuted as J all moneys secured hereby had matured prior to its institu-
tion. The Mortgagee may foreclose this mortgage, as to the amount so declared due sad payable, and the said
ppremises shall be sold to sataafy and pay the same together with costs, expenses, sad allowaaees. In case of partial
foreck~suu~e of thin 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 rush case the pmviaions of this paragraph may again bs
availed of thereafter from time to time by the Mortgagee.
11. No waiver of nay oovenaat herein or of the obligation secured hereby shall at nay time thereafter be held
to be a waiver o! the terms hereof or of the note secured hereby.
12. The lies of this instrument shall amain in full force and effect during any postponement or extension of
the time of payment of the indebtedness or nay part thereof secured hereby.
13. It the Mortgagor default is any ~ 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 the Mort=sRee
in so darn shall draw interest at the rate provided for in the principal indebtedness, and ahali be repayable
thirty (30~ days after demand, and, together with interest and costa accrued thereon, anal! be secured by
this mortgage. .
t4. Upon the request of the Moct~sgee the Mortgagor shell execute and deliver a supplemental note or
notes for the sum or sums advanced by the Mortgagee for the alteration, moderaizataon, improvement, main- -
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 a parity with and as fully as rt the advance
evidenced thereby were included in the cote first described above. Said anpplemental note or notes shall bear
interest at the rate provided for in the principal indebtedness sad shall be payable in appproximately equal
monthly payments for such period as may be agreed upon by the creditor and debWr. Failing to agree on the
maturity, a whole of the sum or sums so advanced shall be due and payable thirty (30) days after demand
by the creditor. In ao event shall the maturity extend beyond the ultimate maturity of the note first
described above.
i
an~~ 315 PacE 620