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tender to the •Morigages in acoordan~.e ~vitirthe ptVs~~ealo.ot the note secured hereby, !uA payment of the
entire indebtedness represented therebyy, the Mortgagee, as trustee, shall, in computing the uuount of such
indebtedness, credit to the account of tine Mortgagor any credit balance remaining under tlce provisions of (a)
of said pph a. if there shall be a default under any of the provisions of this mortgs~e resulting in a
public salthe premises covered hereby, or if the Mortgagee acquires the pmperiy otherwise niter default,
the Mortgagee, as trustee, shall apply, at the time of the canmencement of such proceedings or at the time
_ the property m otherwise acquired, the amount then remaining to credit of Mortgagor under (a) of pangraph.2
pneosding as a credit oa the interest accrued and unpaid and lice balance to the prmciptl then remaining unpud
on said note.
4. He wIQ pay all taxes, assessmen4, water rates, and other ~overrrmental or muaidpal charges, Snes„ of
ta~~,•
aa~d
the h
awlll~~~ deliver the ~ r~tha'r~o~r
to the M
t thereof the Mortif6ce ~Y PtIY ~
promPW~ p~ mt8ag~
!i. He will permit, commit, or su8er no waste, impairment, or deterioration of said property osbu`y~ part thereof
except reasonabb weal and tear and in the event of the failure of the Mortgagor to keep the il~din®s on eai~
preanieee and those to be ereetee{ oa said premises, or improvements thereon, in good repair the Mortgsgee,msy
make such repairs as in its discretion it may deem neoeesary for the proper preservation thereo~, sad the full amount
of each and every such payment shall be due and payable thirty (30) days attar demand, and,sball bs secured by
the lien of this mortgage. -
6. He wW pay all and singular the costs, charges, and expenses, including naaonable lawyer's -fees, and coats
of abstracts of tills, incurred or paid st any time by tthhee Mortgagee ba~auee of the failure on the part of the Morlg~or
promptly and fully to perform the agreements and eove~nants of said prono3eeory note and thin. morf gage, an said
oasts, charges, sn arpeases shall be immediately due sad payable and shall be secured by the lien oft s mortgage.
7. He will oontinuous~y h ~nsuraaoe, of such type or types and amounts as Mortgagee may .
from time to time require, on ~~~ents now or hereafter on said premises and except when payment
for all such premiums has theretofore been made under (a) of paragraph 2 hereof ~e will pay promptly whey
due any premiums therefor. All insurance shall be carrieedd rn companies app'rove~ by l~iortgages and the poli-
cies and renewals thereof shall be held by Mortgagee and have attached thereto loss payable c uses in favor of
and inform acceptable to the Mo In event of lose he will give immediate notice by mail to Mortgagee,
and Mortgagee may make proof~~ [ Ioss if not made promptly by Mortgagor, and each insurance company
concerned is hereby suthoriaed and directed to make payment for such k?aa dirdctly to Mortgages instead of
to Mortgagor and Mortgagee jointly, and the insurance proceeds, or aqy part thereof, maybe a_pp1'ed by MortT
gages at its option either to ~ e reduction of the indebtedness hereby secured or to the restoration or repair of
the property dsms~ed. In event of foreclosure of this mortgage or other transfer of tSt1e to the mortgaged
property rn extingueshment of the indebtedness secured hereby, s~l right, title, and interest of the Mortgagor
w and to any insurance policies then in force shall pass to the purchaser or grantee.
8. 1f tl?e PPremises, or and part thereof, be condeumed under the power of eminent domnm, or acquired for
a public use, fife damages awarded, the proceeds for the taking of, or the consideration for suet acquisition, to
the extent of the full amount of the remaining unpaid indebtedness secured b~• this mortgage, arc liereb~•
assigned to tl,e Mortgagee, and leis lteiis or assigns, and shall be paid forthwith to said lttortgagee or his
assignee to be applied on acrow?t of the last maturing instalLnrnts of such indebtedness; provided, however,
the Mortgagee or hcs assignee, mad at his discretion pad dirnc•t to the Mortgagor, his heirs or assigns ant• part
or all of such awant; provided, that if the loan is guaranteed or insured, the consent of the guarantor or insurer
is obtained in advance of said pa»uent.
9. The Mortgagee may, at any time pending asuit upon this mortgage, apply to the court having jurisdiction
thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of-the premises covered
hereby all and singular, including all and singular the income, p~oSte, issues, and revenues from whatever source
derived, each and every of which, it being expressly understood, is hereby mortgaged as if apecificaily set forth sad
described in the granting and habendum clauses hereof. Such appointment shall be made by such court as an admitted
equity and a matter of absolute right to said Mortgagee, sad without reference to the adequacy or inadequacy of
the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or the defendants. Such
rents, profits, income, issues, and revenues shall lfe applied by such receiver according to the lien of this mortgage
and the practice of such court. In the event of any default oa the pmt of the Mortgagor hereunder, the Mortgagor
sgreea to pay to the Mortgagee on demand as a reasonable monthly. rental for. the premises an amount at least
equivalent to one-twelfth (~s) of the aggregate of the twelve monthly installments payable in the then content
year plus the actual amount of the annual taaea, assessments, roster rates, and insurance premiums for such year
not covered by the aforesaid monthly payments.
10. In the event of any b_~each of this mor!•gag8 or default on the part of the Mortgagor, or in the avast that
any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof, or in the
event that each and every the stipulations, agreements, eonditiona, and oovenanta 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
is 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, ae fully and completely as if all of the
said soma of money were originally stipulated to be paid on such day, anything in said note or in this mortgage to
the contrary notwithstanding; and thereupon or thereafter, at the option of said Mortgagee, without notice or
demand, suit at law or in equity, may be prosecuted as if sII moneys secured hereby had matured prior to its institu-
tion. The Mortgagee may foreclose this mortgage, as to the amount eo declared due and payable, and the said
premises shall be sold to satisfy and pay the same together with expenses, and allowances. In case of partial
foreclosure of this mortgage, the mortgaged premises shall be sold subjsct to the continuing lien of this mortgage
for the amount of the debt not then due sad 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 any covenant herein or of the obligation secured hereby shall at any time thereafter be held
to be a waiver o~ the terms hereof -or of the note secured herebyr
12. The lies of this instrument shall remain in full force and effect during any postponement or extension of
the time of payment of the indebtedness or any part thereof secured hereby.
13. If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then the
Mortgagee rosy perform the name, sad 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
thirty (30) days after demand, and, together with interest and costs accrued thereon, shall be secured by
this mortgage.
14. Upon the request o! the Mortgagee the Mortgagor shall execute and deliver s supplemental note or
notes for the sum or sums advanced by the 1~iortgagee 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 if the advance
evidenced thereby were included in the note brat described above. Said supplemental note or notes shall bear-
interest at the rate provided for in-the principal indebtedness and shall be payable in approximately equal
monthly psymants for such period as may be agreed upon by the creditor and debtor. Failing 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 no event shall the maturity extend beyond the ultimate r.~aturity of the note first
described above. - -
. a~x317 P~~2~~97