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`4ender to the 'Mortgagee in accordance with the provisions of the note secured hereb~•, full pa~•u?ent of the
entire indebtedness represented thrrebv, tl?e ?Mortgagee, as trustee, sl?all, in cor??putit?g tl?e amount of sucl?
indebtedness, credit to t!?e account of tLe \iortggagor any credit balance remaining wider the provisions of (a)
o! said paragraph 2. If there shall be a default under any of the provisions of this n?ortga~e resulting in a
public sale of the premises covered hereby, or if the hiortgagee acqutees the property otl?erwtse after default,
the Mortgagee, as trustee, sl?all apply, at the tin?e of the commencement of such proceedings or at tl?e time
the property is otherwise acquired, the amount then remaining~ to credit of Mortgagor under (a) of paragraph 2
preceding as a credit on the interest accrued and unpaid and tl?e balance to the principal then remaining unpaid
on said note.
4. Ha wiU pay all taxes, assessments, water rates, and other governmental or municipal charges, tines, os
impositions, for which provision has not been made hereinbefore, and is default thereof the Mortgagee may pay the
same; and that he will promptly deliver the official receipts therefor to the Mortgagee.
5. He will permit, commit, or suBer 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 sad 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 !or the proper preservation 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 aH and singular the costs, charges, and expenses, including reasonable lawyer's fees, and coats
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 thiamortgage, and said
costa, 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 said premises, and except when payment
for all such premiums has theretofore been made under (s) of paragraph 2 hereof, he will pay promptly when
due any premiums therefor. All insurance shall be carried in companies approved by 111ortgegee and the poli-
cies and renewals thereo! shall be held by Mortgagee and have attached thereto lose payable c noses in favor of
and in form acceptable to the Mortgagee. In event of loss he will give immediate notice by mail to Mortgagee, .
and Mortgagee may make .proof of Loss if not made promptly by Mortgagor, and each insurance company
nnnrornod ~+a hwrohv aut.hnnr~t ant? rtirartP.d to makes navment for such loss duectly to Mortrse~ inatAa~l of
to Mortgagor and ;4tortgegee jointly, and the insurance proceeds, or any part thereof, may be sppLed by MorG•
gages at its option either to the reduction of the indebtedness hereby secured or to the restoration or >,epsir 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, a~l right, title, and interest of the Mortgagor
rn and to any insurance policies then in force shall pnsa to the purchaser or grantee.
R. If the pr?•iuis?•s, or au~• part thereof, bo c•ondenu?od under rho power of eminont domum, or ac•quirod for
a public use. the dnu:ages awarded, the proceeds for the coking of, or the c•onsidorutic?n for su:•1: uryuisitim?, to
the extant of the full umount of the ren?aininK unpaid inclobteclness serurod b~• ibis nwrtKuge, arc 1?ernb~•
ussiRned to rho `lortgaKee, noel his hei?~ c?r uktiigns, anct shall hr purl forthwith to sold ~1ortKageo or his
assignee to lx• applied on account of tho last maturin;~ installnu•nts of such indebtedness; provided, however,
the ~Iortl;aKoe or his :?ssignee, u:a~• at his diw•n•tion pu~• clin•c•t to the ~IortgaKor, his hairs or uscirns am• part _
or all of such sword; provided, thut if the Ic?un is kuur:u?teecl or insured, rho consent of the guarantor or insurer
. is obtained in advance of said pa~•nu•ut.
`'1- 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 ail a6d singular, including all and singular the income, profits, issues, and revenues from whatever 6ource .
derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and ~
described in the granting sad 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 insolveney of said Dortgagor or t!?e defendants. Such
rents, profits, income, issues, and revenues shall be 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 h'Iortgagor hereunder, the Mortgagor
agrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount at least
equivalent to one-twelfth (y12) of the aggregate of the twelve monthly installments payable in the then current
~ year plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year
not covered by the aforesaid monthly payments.
E 10. In the event of any b-each of this mortgage or default on the part of the Mortgagor; or in the event 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, conditions, 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 n.oneys 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 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 ~r
demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had matured prior to its institu-
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 costa, 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
availed of thereafter from time to time by the Mortgagee.
1 t . 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.
12. The ilea 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.
t~;• 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 all expenditures (including reasonable attorney's fees) made by the Mortgagee 3
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 tl?ereon, sl?all be secured by
this mortgage.
14. t`pon the request of the ~fortgaRee the Mortgagor shall execute and deliver s supplemental note or
notes !or the sum or sums advanced by the Mortgagee for the alteration, modernization. improvement, main-
tenance, or repair of said premises, for taxes or as.~essments 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 ?f the advance i
evidenced thereby were included in the note first described above. Said s?ipplemental note or notes shall bear
interest at the rate provided for in the principal indebtedness and shall be arable in appproximately equal
monthly pa menu for such period as may be agreed upon by the creditor and debtor. I''ailing to agree on the
maturity, the whole of the sum or sums so advanced shall be due and pa~•able thirty (30) days after demand
by the creditor. In no event shall the maturity extend beyond the ultimate taturity of the note first
described above. tiR
, 495 e~ 323 P~~E ~6~3