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gages because of the failure of the ~Mo?~tgagor to promptly and fully comply
with the a eements, stipulations, conditions and covenants of said promissory
note and this lrl'ortgage, or either; to perform, comply with and abide by each
and every the agreements, stipulations, conditions and covenants set forth in
said promissory note and this Mortgage.
( IF any sum of -money herein referred to be not promptly paid within iooz Thirty
days after the same becanes due, or if each and every the agreements,
stipulations, `'conditions and covenants- of said praaaissory note and this Mort-
e, or either, are not fully performed, complied with and abided by within Thi
/ days after any. such default, or if the Mortgagor fails to perform any
covenant or condition of the First Mortgage (other than the payment of sche-
duled installments- of principal--and interest under the- First Mortgage3; or if
the Mortgagor shall make an assignment for the benefit of creditors, or if a
receiver be appointed for the Mortgagor or any part of the mortgaged property, °r?„r
or upon any order or decree of a court of competent jurisdiction appointing a ~
receiver, liquidator or trustee of the Mortgagor or of any of his properties
and the failure to discharge and vacate such order or decree within thirty (30)
days thereof, or upon an order or decree of any court adjudicating the ~ D
Mortgagor bankrupt or insolvent or sequestering any of his pro th
failure to discharge and vacate -such order or decree within / ys~~
thereof , or upon the flling by the Mortgagor of a petition in bankruptcy
under the provisions of any bankruptcy law or any insolvency acts, or the
acquiescence in or consent by the Mortgagor to the filing of any bankruptcy
petition against him under any such law, or the admissiqq~t~in writing by the
Mortgagor of his inability to pay his debts generally as'tl~ey become due, or
if a petition in bankruptcy is filed a st the Mortgagor and such proceeding
or petition is not- dismissed within (30) days, then upon the occurrence
of one or more of the foregoing ents, the entire balance unpaid under the
promissory note and this Mortgage shall forthwith or thereafter, at the option
of the Mortgagee, become and be immediately due and payable, anything in
said promissory note or herein to the contrary notwithstanding . Failure by
the Mortgagee to exercise any of the rights or options herein provided shall
not constitute a waiver of any rights or options under said note or this
Mortgage accrued or thereafter accruing .
All of the rents, deposits, revenues and profits-arising out of the opera-
. tion of the mortgaged property are, by the terms hereof, assigned to the
Mortgagee as further security for the payment of the indebtedness secured
E hereby, and no other instrument or documents need be executed by the
Mortgagor to effect such assignment, although the Mortgagor agrees to exe-
cute such document within five (5) days ff requested by Mortgagee. Any
subsequent assignment of the rents, deposits, revenues snd .profits of the
mortgaged property, or any part thereof, shall at all times be inferior and
subordinate to the assignment granted hereby and to the rights of the Mort-
gagee hereunder.
In the event of a default by the Mortgagor hereunder, including, but
not limited to the Mortgagor's failure to pay when due any tax or assessment
or otherwise fully comply with the terms of the promissory note and this
Mortgage in addition to and without waiving or affecting the right to foreclose -
or any other rights and remedies available to the Mortgagee, the Mortgagee
may, at its option, make any payments or perform any acts herein required
by the Mortgagor in any form and in any manner deemed expedient and the
Mortgagee may, but shall not be obligated to make full or partial payments of
principal or interest on the First Mortgage, any tax lien or other prior liens
or title or claim thereto, or any other obligation required to be performed by
the Mortgagor . All such payments shall be deemed additional monies owed by
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