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ten (]0) days, a "late charge" of six cents for each dollar (=1.00), or part thereof, so over-
due may be charged to Mortgagor by the Mortgagee, for the purpose of defraying the
Mortgagee's experees incidewt to handling such delinquent payment. This charge shall
be in addition to, and not in lieu of, any other remedy the Mortgagee may have and is
in addition to any reasonable fees and charges of argl agents or attorneys which the
Mortgagee is entitled to employ on any default hereunder, whether authorized herein,
or by law. Such "late charges" if not previously paid, shall, at the option of the Mort-
gagee, be added to and become part of the succeeding monthly payment to be made under
the Note.
SECTION 13.2E Mortgagor will not create or permit to accrue upon all
or any pert of the Mortgaged Property any debt, lien or charge which would be prior
to or on a parity with the lien of the Mortgage. If arOt such debt, lien or charge is created
or accrues upon the Mortgaged Property, Mortgagee may at its option, but shall be under
no obli~tion to do so, pay the same and Mortgagor will repay to Mortgagee on demand
any amount so paid by Mortgagee, with interest at the rate of fifteen percent (t59i6) per
annum from the time of payment and the same shall be accrued by the Mortgagee.
ARTICLE 14
Events of Default and Remedies
SECTION 14.01. If arq~ of the following events (herein called "Events of
Default") shall occur and be continuing, that is to say:
(a) if default shall be made in the payment of anp? installment of the
principal of, or (nterest an, the indebtedness secured bq this Mectgage or any
other sum which is payable under the Note or this Mortgage as and when the same
shall become due and payable as in this Mortgage provided and any such default
shall continue for a period of ten (10) days; or
j (b) if default shall be made in the due observance or performance of arty
covenant, condition or agreement on the part of Mortgagor cmntained in the Agree-
t ment, and such default shall continue for a period of ten QO) days after notice
II from Mortgagee; or
~ (c) default shall be made in the due observance or performance of the
obligation of Mortgagor to furnish the required receipt or other required evidence
s of payment as provided in Section 2.04 and such default shall continue for a period
of ten (10) days after notice from Mortgagee; or
(d) if default shall be made in the due observance or performance of any ~
covenant, condition or agreement on the part of Mortgagor contained in Section F
2.01 hereof, and such default shall continue for a period of ten (i0) days after notice
from Mortgagee; or
(e) if any warranty, representation, certification, financial statement
or other information made or furnished at any time pursuant to the terms of the
Note or this Mortgage, or otherwise, by Mortgagor, or by arty person secondarily
~ liable under the Note, in connection with the loan transaction secured hereby,
shall prove to be materially false and to have been made or furnished with knawH
edge of the false nature thereof; or 1 _
(f) if default shall be made by Mortgagor in the performance of, or compliance
with, any of the provisions, warranties, covenants, agreements, promises, terms
or conditions contained in the Note or this Mortgage other than those referred
to in the foregoing clauses (a) to (e) inclusive above, and such default shall continue
for a period of sixty (60) days after notice thereof from Mortgagee to Mortgagor,
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