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4. To permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof.
S. To pay all and singular the costa, charges and expetues, tncludtng reasonable lawyer's fees and cost of abstacta of
dtte. incurred or paid at any time by said Mortgagee beause and/or is the event .ot the failure on the part of the said
Mortgagor co duly. promptly and fully perform, discharge, execute, eRect, complete. comply with and abide by each and t
every the stipulaciona, agreements, conditions sad covenants of said prorttissory note. and this mortgage, any or either, and f
said costs, charges and expenses, each and every, shalt be immediately due and payable, whether or not there be notice, da
mand. attempt to collect or suit pending; and the frill amount of each and every such payment shall bear interest from the
date thereof until paid at the rate of ten per cencum per annum; sad all said costs, charges and expenses so incurred or paid,
together with such interest, shall be secured by the Uen of this mortgage.
6. That (a) in the event of any breach of this mortgage or default on the part of the Mortgagor, or ib) in the event any of said
sums of money herein referred to be not promptly and fully paid within ten days next after the ume severally become due and
payable, without demand or notice, or (c) in the event each and every the stipulation, agreements. conditions and covenants of said
promissory note and this mortgage, any or either,are not duly, promptly and fully performed. discharged, executed, et~fected,
completed, complied with and abided by, then, in either or any such event, the said aggregate sum mentioned in said promissory
no*e then remaining unpaid, with interest accrued. and all moneys secured hereby, shall become due and payable forthwith, or
thereafter, at the option ofsaid Mortgagee, as fully and completely as ifaU of the said sums of money were originally stipulated to be
paid on such day, anythittg in said promissory note, and/or in this mortgage to the contrary notwithstanding; and thereupon or
thereafter at the option of saki Mortgagee, without notice or demand. suit at law or in equity, theretofore, or thereaker begun,
may be prosecuted as if all moneys secured hereby had matured prior to its institution
7. That in the event that at the beginning of or at any time pending any suit upon this mortgage, or to foreclose it,
or to reform it, and/or to enforce payment of any claims hereunder, said Mortgagee shad apply to the court having jurisdiction
thereof-for the appointment of a Receiver, such court_shatl fQt~irrtlth appoint a_Receiver of said_mortgaged property all and
singular, including all and singular the rents, income, profits, issues and revenues from whatever source derived, eacTi and every
of which, it being expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and
habeadum clauses hereof, and such Receiver shall have all the broad and effective functions and powers in anywise entrusted by a
court to a Receiver, and such appointment shall be made by such court as:n 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 and/or of the defendants, and that such rents, profits, income, issues and revenues shall be applied by
such Receiver according to the lien and/or equity of said Mortgagee and the practice of such court.
8. In the event the jurisdiction of the U.S. District Court shall be invoked by or against the lilortgagor under any of f
the provisions of the Federal Bankruptcy Act, such action. whether voluntary or involuntary on the pare of the Mortgagor,
shall-automatically; without- notice; accelerate the maturity of all sums of money herein described and secured-and the! same _
shall thereupon become due and payable forthwith as fully as if the said aggregate sums of money were originally stipulated
to be paid on such date. _
9. To deliver to said I?iortgagee on or before March I S th of each year, tax receipts evidencing the payment of all lawfully
imposed taxes for the preceding calendar year, and to deliver to said Mortgagee, receipts evidencing the payment of all liens
for public improvements within ninety (90) days after the same shall become due and payable, and to pay or discharge within
ninety (90) days after due date, any and all governmental levies that may be made on the mortgaged property, on this Mortgage
or Note, or in any other way resulting from the Mortgage indebtedness secured by this Mortgage; and if this condition be not
complied with and performed, said Mortgagee may pay suchsum or sums which shall become part of the debt secured by this Mort-
compliedwith and performed, said Mortgagee may pay such sum or sums which shall become part of the debt secured by this bfort-
_gageand shalt bear interest at the default rate provided in said Promissory Note payable monthly until paid or said Mortgagee may
elect that said Mortgage debt thereupon become due and payable forthwith.
10. If all or any part of the property or an interest therein is sold or transferred by Martgagagor without Mortgagee s
prior written consent, a:eluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a
purchase money security interest for household appliances, (c) a transfer by devise or descent, or by operation of !aw upon the
death of a joint tenant, or (d) the grant of any leasehold interest of three years or less not containing as option to purchase, Mortga-
gee may, at its option, declare alt the sums secured by this Mortgage to be immediately due and payable. Mortgagee shall have
waived such option to accelerate if, prior to the sale or transfer, Mortgagee and the person to whom the property is to be sold
or transferred reach agreement in writing that the tredit ofsuch person is satisfactory to Mortgagee and that the interest payable on
the sums secured bq this mortgage shall be at such rate as Mortgagee shall request.
11. That in the event the premises hereby mortgaged, or any part thereof, shall be condemned and taken for public use
under the power of eminent domain, the Mortgagee shall have the right to demand that all damages awarded for the taking of or
damages to said premises shall be paid to the Mortgagee up to the amount then unpaid on this Mortgage and at the option of the
Mortgagee may be applied upon the payments last payable thereon
12. The Mortgagor binds himself not to erect or permit to be erected any new buildings on the premises herein mortgaged
or to add to or permit to be added to any of the existing improvements thereon or make any changes or alterations in said i
improvements which materially change the sameor the use thereof, without thewritten consent of the Mortgagee, and in theevent
of any violation or attempt to violate this stipulation, this Mortgage and all sums secured hereby shall immediately become due and
collectible at the option of the Mortgagee.
13. It is specifically agreed that time is of the essence of this Mortgage and that no waiver of any obligation hereunder or of
the obligation secured hereby shill at any time be held to be a waiver of the terms hereof or of the instrument secured hereby.
I4. If foreclosure proceedings of any second mortgage or second trustdeed orany junior Lien of any k ind should be instituted
the I?fortgagee may, at its option, immediately or thereafter declare this Mortgage and the indebtedness secured hereby due and
payable forthwith, and may at its option proceed to foreclose this mortgage.
1 S. To the extent of the indebtedness of the Mortgagor to the Mortgagee described herein or secured hereby the 1ltortgagee
is hereby subrogated to the lien or liens and to the rights of the owners and holders thereof of each and every mortgage lien or other
encumbrance on the land described herein which is paid and/or satisfied in whole or in part out of the proceeds of the bran des-
cribed herein or secured hereby and the respective liens of said Mortgages, liens or other encumbrances shall be and the same and
each ofthem hereby is preserved and shall pass to and be held by the Mortgagee herein as security for the indebtedness to the
Mongagee herein described or hereby secured, to the same extent that it would have been preserved and would have been passed
to and been held by the Mortgagee had it been duly and regularly assigned, transferred, set over and delivered unto the 111ortRagee j
by separate deed of assignment notwithstanding the fact that the same may be satisfied and cancelled of record, is being the !
intention of the parties hereto that the same will be satisfied and cancelled of record by the holders thereo(at or about the
tivte of the recording of this Mortgage.
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