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tender to the Mortgagee in accordance with the provisions of tl~e note secured here~v, full payment of the ,
entire indebtedness repre8ented tberebv, the Mortgagee, as trustee, shall, is oonrputing the amount of such
indebtedness, credit to tl~e account of the Mortgagor any credit balance remaining under tl?e provisions of (a)
of said ph 2. if there shall be a default under any of the provisions of this rnortga~e resulting is •
public aalthe premises covered hereby, or if the Mortgagee acquu^a the property otherwise after default,
the Mortgagee, as trustee, shall apply, at the time of the commencement of such proceedings or at the time
the property m otherwise acquired, the amount then reiusinu~g to credit of Mortgagor under (a) of paragraph 2
preceding as a credit on the interest accrued sad unpaid and the balance to the principal then remaining uapud
on said note.
4. 8e will .pay all taus, aeseeementa, water rates, sad other ~overameatal oe municipal charges„ Saes, ee
impositions, for which provision has not been roads hereinbefore, sad m default thereof tbs Magee may pay the
name; sad that bs will promptly deliver the o8it~al receipts therefor to tbs Mortdsaee.
b. He will permit, commit, or suffer no waste, impairment, or dete:iorstion of said pt~operty oeaax ~p~art thereof
except reasonabb wear wd tear and in the event of the failure of the Mort~or to beep the on sai~
premises anti there to be ereetecl~ on said premises, or improvements thereon, is good repair the Mort6agee rosy
make wch repairs u is its discretion it may deem necessary four the proper preeccvatioa thereo~, and the full amount
of each anti every such payment shall be due anti payable thirty (30) dams titer demand, sad shall bs secured by
tbs lien of this mort~e.
8. He will pay all and singular the costs, clharges, and earpeases, including reasonable Lwyes's fees, and costa
of abstracts of titley, incurred or paid st any time by thhee Mortgagee because o[ the failure on the part of the Mortgaagor
o~ostcharges, and expe~naesos~baU~be
ate
y
aue~ind payabb sad ahp
sU
bye
ryeecured by the l~aaui~mort~e.
7. He will contiauousb maintain hazard iffiuranoe, of such type or types and amounts as Mortgagee may
from time to time require, on the improvements now or hereafter oa said premises sad except when payment
for all such premiums he~a theretofore been roads under (a of paragrarph 2 hereof ~e will pay promp~,~y whoa
due nay pr+emrums therefor. All insurance shall be carried is eompswes approve by lliortgagee sad the poli-
cies sad renewals thereof shall be held by Mortgagee and have attached thereto lees payable uses is favor of
and inform acceptable to the Mortgagee. In event of loss he will give immediate notice by
mail to Mortgagee,
sad Mortgagee may make proof o3 Iosa if not made promptly by Mortgagor, and each msunaoe company
concerned is hereb authorized and directed to make payment for such loos directly to Mortgageeb
toad of
to Mortgagor and Mortgagee joinWy, and the insurance pr~oeeeds, or any part thereof may be a__pp77f~ y Mortr
gages at its option either to the reduction of the indebtedness hereby secured or to t~e restorateon or repair of
the property dammed. In event of foreclosure of this mortgage or other transfer of,title, to the mortgaged
property in ext?ngurshment of the indebtedness secured hereby, a~l right, title, sad interest of-the Mortgagor
in and to any insurance policies then in force shall pass to the purchaser or grantee.
8. If the ppremises, or am part thereof, be rondeiuned under the power of eminent. douram, ur acquired for
a public use, the damages awarclecl, the pra•eccls for tl~e Laking of, or the consiclerstion for such acquisition, to
• tl?e extent of the full amount of the remaining unpaid indebtedness secured by this mortgage, am hernby
assigned to the Mortgagee, and his' heirs or assigns, and shall Ix' paid forthwith to said Mortgagee or his
assignee to be applied on acrow~t of the last matunuK installments of such indebtedness; pro. idecl, however,
the ~IortKagee or his assignee, nia~- at his discretion pa. dircc•t to the Mortgagor, his heirs or assigns any part
or all of such av?ard; provided, that it the loan is Kuaranterd or insured, the consent o[ the guarantor or insurer
is obtained in advance of said pa~•rrierrt.
9.1•he 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 auc6 court s6s11 forthwith appoint a receiver of the premises covered
hereby all acid singular, including all and singular the income, profile, issues, and revenues from whatever source
derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth sad
described in the granting and habendum clauses hereof. Such appointment shall be made by such court as as admitted
equity and a matter of absolute right to said Mortgagee, and without refer+eace to the adequacy or inadequacy of
the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or W'
a detendaata Such
rents, profits, income, issues, and revenues shall tfe applied by such receiver aeoording to the lien of this mortgage
and the practice of such court. In the event of any default oa the part of the Mortgagor hereunder, the Mortgagor
agrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises sa amount st least
equivalent to one-twelfth (~s) of the aggregate of the twelve monthly installments payable in the then current
year plus the actual amount of the annual taxes, aseeasmente, water rates, and insurance premiums for arch year
not covered by the aforesaid monthly payments.
10. In the event of any bzeach of this mortgage or default on the part of the Mortgagorf or in the event that
any of said sums of money herein referred to be not promptly and fully paid accordmg to the tenor hereof, or in the
event that each sad every the stipulations, agreements, eonditioce, 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 origlnaUy stipulated to be paid on such day, anything in said note or in this mortgage to
the contrary notwithstanding; sad thereupon or thereafter, at the option of said Mortgagce, without notice or
demand, suit at law or in equity, may be prosecuted sa if all moneys secured hereby had matured prior to its icetitu-
tion. 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 coats, expecees, 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 say covenant herein or of the obligation secured hereby shall st any time thereafter be held
to be a waiver of the terms hereof or of the note secured hereby.
12. The lien of this instrument shall remain in full force and eSect during any postponement or extension of
the time of payment of the indebtedness or any part thereof secured hereby.
1:3. If the Mortgagor deft?ult 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 the Mortgagee
in so doing shall draw interest at the rate provided for in the principal indebtedness, and shall be repayable
1 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 by the titortgagee for the alteration, modernization, 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 it 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 proximately equal
monthly pa menu for such period ss may be agreed upon by the creditor and debtor. Fa~ing 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 so event shall the maturity extend beyond the ultimate rssturity of the note &rst
described above. c~ ~r
BOOK J15 PAGE ~ 15