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principal wm and atcnred interest shah Oetome dw and payable without notke at tM option o! tM hoi@er thereof. Area tiesii
duly, Promptly. and fatly Perform. discharge. ezeture. effect. complete. and wmpty with and abidt by oath and awry the stipu•
lations. sgreanents. i<oreditions. and cownanb of said promissory rate and this mortgsge~ then this mortgage and tM estate
hereby croated shNl ease and be null and void.
- Md the Mortgagors further cownarrtas follows, - - .
1. That they wiN pay tM indebtedness. as heeinbNon provided. -
2. That. M order more fully to protect flee security of this moTtgsgs. the Mortgagors„ together with and in sctdition to. tbt
monthy paymrnets undo tM terms of any roles secured haebr. on flee first day of ead? month until said rm_
to is fully paid. witl -
pay to the Mortrigee tlxr fouovrirrg sumw - -
~ (a) RaOm'agoal~oaltrlwfa~(i~l2y"vf~lro~ewrNrre!lhalwilEaMilieoewwrdw~ai _ .tiiaaod~ot4V
iMil~ PiWatauas. dNR.orLtbt~Par~feJ.as.~Wi~
~lMiiyiNeMiR~i).
(b) AH payments neentbned in tM praeding wbsectlore of this pangrsph and all payneenb to be made under any reat~
second iwreby shah be added tagetlrsr acrd tM aggregaU amount thereof shall be Paid by ifee Mortgagors tatlr month to a
single payrrrsM to N applMd by the MortSagN to tM foUoMrheg items in the order set forth: _
1. 1lexssl saaa„er~l ~ir~ar Mi
- ii. interest on G'.e rwte revered feeeby; aced -
- 111. 1lrreartiiatlwe of tM prindpN of said noM. - - _ -
Anydeficiency in the amount of such aggregate nronMy? payment shall. unleu made good by the Mortgagors Prior to the duct
date at the next such paynreret. constitute an e+rent of defauk under this mortgage. The Mortgagee may collsit a "late charge''
not to exceed two cents (2~) for each dollar of each psymart m_ orc than fifben (15) days in arrears to Dover the rxtrs e~-
parse imroived in handling deUnqueM payments. - ~ ;
3. That N tM toW of the paynents made by tM Mortgagors under (a) of paragraph 2 preceding shaM.sxesad the arrlQuat
of Paymsnb adwNy made by the Mortgagee. fcr taxes and assessments and insurance premiums. as the case may be. such
excess shall bs credited by the Mortgagee on wbsaquent payments to be recede by the Mortgagor;. If, however. tt~e monthly pay-
menb made Dy the Mortgagors under (a) of paragraph 2 preeedireg shall red be wHkient to Pay taxes and assessrreaeb and in•
werece premiums. as the case may De, when the same siesll become due and psyabN. then the Mortgagors strait pay to the Mort-
gagee arty anaerrrt rreoassary to~nake up the deficiency, on or before tM date when payment of such taxes. asssssrreenb. or insur
arose Premiums shall be due. ff at any time the Mortgagors shah tender to the Mortgagee in accordareoe with the provisions of the
note secwer hereby. frrU payDtent of the entire indebtedness epesented thereby the Mortgagee shah. pay to the Mortgagors all
amounb then remaining in the tax and insunreca escrow ateount held in eonresction frith this loan. H then shalt be a default
under arty of the provisions of this mortgage ~esuiting in a pubik eels of the premises covered hereby. or.if the Mortgages sorauires
the property otteerwiss after deffarR. the Mortgages shall apply, at the time of the oomrreericerreeret of such proceedings a at tM
time the property is otleervrise acquired. the balanq then remaining in the funds axumulated under (a) of paragraph 2 preceding
as a credit against the amount of principal then remaining unpaid ynder said note. -
4. That they will pay all taxes. assessments. water rates, and other govemmeretal or munkipa) charges, fines. or tmposi-
lions. for whlcfe provision has rrat been made hereinbefoe. and in defauR tteereof, the Mortgagee may Day the same and bs
securer :y the lien of !!ee mortgage; and that they will promptly deliver the official receipts the~re~for~ to the Mortgagee.
5. That tteey wig pemdt, commit. or sufhr no waste, impaimeeret.,or t`e1Nc>~~ property or arty part thereof; and
in the event of the failure of the Mortgagors to keep the build'~a~sioR~~~_~,,~Q ~ ~ be erected on said premises, a
improvements thereon. in good repair. the Mortgagee may make such repaibtWiini+~, itllrill#Iim reeeessary for tM
proper Preservation thereof.~andt~the fuU amount of each and every such arrt shall •be' iMmedigtel~~t=arhd payable. and
stern t]R Seturad lry the hen the martgagt. -o" ,gyn. R , 2ss .w~u3-
6. That they will peg sp and singular the costs, cturges.Ynii'eapsreses. -including teasonaAle lawyers fees, and cosh of
abstracts of title. incurred or paid at rrry time by the Mortgagee because~of the failure on tM part of the Mortgsgars PrwnPtiY
and fuly to perform the sgreerreenb and ooverearets of said promissory note and this mortgage, and said cosh. charges and ex-
penses shall be immediately due and payabb :red shag be second b!? the lien of this mortgage. -
i 7. That they will keep the improverrreflts now existing or hereafter erected on the mortgaged property insured as :nay be
f required from time to time blr the Mortgagee ~ainst ions by fire or other tra:
ants, casualties. andoontinQencies in such amounts
I and for such periods as may be required by Mortgagee, and will Pay promptly. when due. anjr premi;ms on such insurancefor pay-
! meat oe wfirch provision teas not been made hereinbefon. AU insurance shall be carried; in companies approved by Mortgagee
and the C`olkies and renewals thereof shall be heW by Mortgagee and have attached thereto loss payable dsuses in favor of and
in form acceptable to the Mortgagee. Renewal policies chap be delivered to Mo~gee at least 10 days prior to expiration of exist-
~ ing paiicy. In event of loss, they w81 give immediatey notiet by mail to Mortgagee. and Mortgages may make proof of loss M not
made prompty try Mortgagors, and each inwenoe company toncemed is hereby autleorized end directed to-make payment tor.
such loss directly to Mortgagee instead of to Mortgagors and Mortgagee jointly, end the insurance prooesds, or arty part thereof.
may be applied by Mortgagee at its option either to the eduction of the indebtedness hereby sewed ~r to the resbetion or re- -
pairs of the property damaged. In event of foceNowre of this mortgage or other transfer of title to the mprtgaged property in ex-
tingulShmMt of the indebtedness secured hereby. a1P right, titN and interest Oi the iNortaagors in acrd {o any inwnnoe policies
then iri force shall pass to the purchaser or grantee. _
8. Treat the Mortgagee may, st any time pending a wR upon this mortgage, apply to the court Having ju~isdictlore tteeraot
~ for the appointme-~t of a reoeivrr, acrd such court shall foRtrwith appoint a eceiv~er of the premises covered hereby a0 end sitrgu-
br, inducting ail and sirgutar flee iretome, prottts, issues, and revenues from whatever source derived. each and every of whkh, i<
being expressly understood, is leeraby mortgaged ss K speafially set forth and described in the granting aced habendum clauses
hereof, and sage receiver shaq haw aN the broad end effective functions and pewee in anywise entrusted by a court to a receiver.
~ and such appointrreent-shag be rrsade by such court as an admitted equity and a matter of absolute right to said Mortgagee. and
without reference to the adequr.
,y or inadequacy of fire value of the property mortgaged or to the sotverecy or insolvency of said
Mortgagors or the defendants. and that wch resets, Profits, hecdrne. issues and revenues shall bs applkd by such etehrer actord-
ing to the lien of thk mortgage and practiot d such twat.
~ 9. Tleat (s) he the avert of arty breach oi` tfeis mortgage or default on the psR of the Mortgagors, or (b) M the event that any
of said wms of rrwreatr teerein referred to be not promOtly end fogy paid -wahout demand or ratke. or Tc) in the ewret hurt each -
{ and every the stipulations, agreements. conditions and tovensrets of said rate and this mortgage, se root guy, promptly end fully
perfomeed; then in either or arty sum event. the said aggregate scan neeretioned in sa+d rate floor remaining unpaid. with iretersst ;
accrued to that time. and ell rreoreeys secured hereby, shah bseonee due and payable forthwitle. or thereafter. at the option of said
Mortgagee, as fully and oornpietaiy as if all of the said sums of nrweey wen originsNy stipulated to be paid on sac': gay, anw
thing in said note of in this mortgage to the torrtrary rrobrfttrsbndireg; and tlreeupon or thereafter, at the option of said Mar-
( 6eti~. without no+.ice or demand, suit at law or in equity. may be prosecuted ss-K all moreays secured hereby had matured prior
to its institution. The Matg,sgee may foreclose this mortgage, ss to the amount so declared due and payable, and the said
premises shall be sold to satisfy and Day the same tc~gethsr with costs, expenses. and allowances. M cases of pertia! foneclowe
of this mortgage. the mortgaged premises shah be sold :'abject to the continuing lien ct this mortgage for the amount of the debt
~ not then due and unpaid. In such care the provisiars of tleis peragreph may again be atiaikd of thereafter from time N, time by
~ ~Sat~e