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lender to the tiiortgttgce in ac•c•urdunco with the provisions of the note secured Icenrbv, tuff pu~•uieut of the
entire indebtedness represented there.b~•, the ~lortgagce; as trustee, shall, in computing the amount of such
indebtedness, credit to the account of t)ie Mort ?ukor any credit balance remaining under the pn,visious of (a)
of said paragraph 2. 1t there shall be a defau~t under any of the provisions of this niortga~e resulting in a
public sale of the preuiues covered hereby, or it the Mortgagee acquires the property otherwise after default,
the Mortgagee, as trustee, shall apply, at the tune of the conunenceuient of such proc•eedinga or at the time
the property is otherwise acquired, Uie amount then rt•niainin~~ to rredil of Mortgagor undo r (a) of paragraph 2
preceding as a credit on tl?e interest accrued and unpaid and tl?e balance to the principal then remaining unpaid
on said note.
4. He wiU pay all taxes, asBeeaments, water rates, and other governmental or municipal charges, fines, or
.impositions, for which provision has not been made 6ereinbefore, and in default thereof the Mortgagee may pay the
name; and that he will promptly deliver the official receipts therefor to the Mortgagee.
5. He will permit, commit, or suffer no waste, impairment, or deterioration of said property or any part thereof,
except reasonable wear and tear; and in the event of the failure of the Mortgagor to keep the buildings on said
premises and those to be erected on said premises, or improvements thereon, in good repair, the Mortgagee may
make such repairs as in its discretion it may deem necessary for the proper preacrvation thereof, and the full amount
of each and every such payment shall be due and payable thirty (30) days after demand, and shall be secured by
the lien of this mortgage.
6. He will pay all and singular the coats, charges, and expenses, including reasonable lawyer's fees, and poets
of abstracts of title, incurred or paid at any time by the Mortgagee because of the failure on the part of the Mortgagor
promptly and fully to perform the agreements and covenants of said promissory note and ttis. mortgage, and said
coats, charges, and expenses shall be immediately_due and payable and shall be secured by the lien of this mortgage.
7. He will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee may
from time to time require, on the improvements now or hereafter on sand premises, and except when payment
for all such premiums has theretofore been made under (a) of paragraph 2 hereof, he will pay promptlyy when
due any pretxuums therefor. All insurance shall be carried in companies approved by 111ortgagee and the poli-
cies and renewals thereof shall be held by Mortgagee and have attached thereto loss payable clauses in favor of
and in form acceptable to the Mortgagee. In event o1 loss he will give immediate notice by wait to iviortgagee,
and Mortgagee may make proof of joss ii not made promptly by Mortgagor, and each insurance company
concerned is 6ereb authorized and du•ected to make payment for such loss directly to Mortgagee instead of
to Mortgagor and Mortgagee ]ointlyy, and the insurance proceeds, or any part thereof, may be app 'ed by Mortr
gages at ?ta option either to the reduction of the indebtedness hereby secured or to the restoration or repair of
the property dammed. In event of foreclosure of this mortgage, or other transfer of title to the mortgaged
property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the l~iortgagor
in and to any insurance policies then in force shall pis to the purchaser or grantee.
K. If the preu,isc•, or un~- port thereof, be condc•nuu•d wulrr the pow•cr of en,iuent donwu?, or acquired for
a public use, thc• danuigcs uH•arded. tL,• pra•eeds fur the taking of, or the considcrution for such ur•yui_,ition, to
the extent of the full uu,ount of the irn,uining unp:?id indebtedness secun•d he this nu?rtgage, arc I,erebv
ussif?ned to the ~lortgul?ce, and his heir or asigm• and .hall be paid forthwith to ,aid J1ortKagee or his
assiKnee to lx• applied on account of the lux nuiturin~ iustalhuc•nts of such indi•ht,•JnE•s:: proviclecl, ho~~•ever,
the \Iortgugce ur his ussiKnee, n,u~- ut Lis discretion par direct to the ~Iortgugor, his lu•irs or assigns and- port
or all of such a~canl; provided, that if the Ic?;u: is guurautced or insured, thc• consent of the guarantor or insurer
is obtainrd in a~lvunce of .aid pa~•n?ent.
!i• The 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 such court shall forthwith appoint a receiver of the premises covered
hereby all sod singular, including all and singular the income, proSts, issues, and revenues from whatever source
derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set Earth and
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, and without reference to the adequacy or inadequacy of
the value of the property mortgaged or to the solvency or insolvency of said Mortgagor or t!ie defendants. Such
rents, profits, income, issues, and revenues shall 1Se applied by such receiver according to the lien of this mortgage
and the practice of such court. In the event of any default on the part of the Mortgagor_hereunder, the Mortgagor
agrece to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount at least
equivalent iw one-twelfth (~2) of the aggregate of the twelve monthly installments payable in the then current
G year plus the act~usl amount of the annual taxes, asses
ssments, water rates, and insurance premiums for such year
E not covered by the aforesaid monthly payments.
10. In the event of any beach of this mortgage or default on the part of the Mortgagor; or in the event that
any of said earns 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, conditions, and covenantsg 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 hemby, 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 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 all moneys secured hereby had matured prior to its institu-
} tics. 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 costs, expenses, 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
~ avail"ed of thereafter from time to time by the Dortgagee.
1 11. No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held
to be a waiver of the terms hereof or of the note secured hereby.
4 12. The lien 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.
1:3. If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then the
; Mortgagee may perform the same, and aU expenditures (including reasonable attorney's fees) made by the Mortgagee
d in so doing shall draw interest at the rate provided for in the principal indebtedness, and shall be repa~•able
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
E notes for the sum or sums advanced by the tiiortgagee 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 first described above. Said supplemental note or notes shall bear
interest at the rate provided for in the principal indebtedness and shall be a}able in approximately equal
monthly pavments 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 c~aturity of the note first
described above.
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