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principal wm and sccrwd interest shall Decorrte due and psyatrle without notke at the optbn of tM hoWer'tMnot. And shall
duly, prompty, and fuly perform. discharge. execute, effect, eompNte. and compy with and abide by each and every the stipu•
Iatbns, agreements, oonditbns, and covenants of said promissory note and this mortgage. then this nwrtgage and tM estate
Mreby crested shah cease and be null +nd void.
And tM Mortgagors further covenant as follows:
1. That they wNl pay the irMebtedness, ss heninbefore provided.
2. That, ih order more fully to protect tM security of this mortgage. the Mortgagors. together with and in additbn to, tM
mouthy payments under tM terms of any notes secured hereby, on tM tint day of each month until said note K futy paid, will
psy to the Mortgages tM following wme:
(a) ~mrs4wFl~o~ene~lweNlh-{3t14)~oFthrpremiur~eett~et dM?sed~payalsie'eR'elieiea~Awer~i~eN+es
h'2nttttft~ftlilOlrCge~fAtg'tflt .'ga~faa7ttq~t~ttZloie~l"'dtr '(akaresti-
nwled•rl?~~)
(b) All payrtrsnb mentioned in the preceding wbsactbrr of this paragraph and aN payments to be made under arry note
securod hereby shall be added together and tM aggregate amount tMreof shall be paid by tM Mortgagors each monM in a
single payment in be appllod by tM Mortgagee to tM Mlk?wing items in tM order set forth:
1. ~+Meeraeawee+ewbr Iwl--
f f. Interest on the note second hereby; and
ill: MrortizaUoR_of tM prindpal of said cafe. .
MY deficiency in tM amount of such aggregate monthly payment shall. unleu made good by the Mor<g~Ors prior to tfie due
date of tM next wch payment. constitute an event of default under this rrartgage. The Mortgagee may collect a "late charge"
no>riaeaoeed-tMw-want-(8i}fa~eaelrrsUart~of~eaelrpayrna+rt+t+ers•ManiitberrEl~6jdays-ie-an~earsto cover the exta ex•
pence imroived_ in handling delinquent paynMrrts. .
3. That if the total of the payments made by the Mortgagor under (a) of paragraph 2 preadNrg shall•exceed tlrs amount
of payments actualy rntde by tM Mortgagee; for taxes and assessments and irrwnnq premiums, ss the case may be: such
excess shall be credited by the Mortgagee on wbsequent payments to be made by tM Mortgagors. if, however. tM monthy pay
menu made by tM Mortgagor under (a) of pengrcph 2 preceding sMll not be sufficlent to pay taxes and assessrnsrrts and in•
suronca premiums. as the case may be, when tM same shall become due and payable. then tM Mortgagors shah pay to the Mort•
gages arty amount necessary to make up the. deficiency. on or before the date when payment of such taxes, assessments. or inwr.
arroa premiums shall be due. H at any time tM Mortgagors shall fonder to tM Mortgagee in accordance with the provisions of the
note secured hereby. full payment of tM entiro indebtedness reprosented tMreby. tM Mortgagee shalt, pay to the Mortgagors all
amounts then remaining in tM tax and insurance escrow account Mkt in connectbn with this loan. H there shall bs s default
under any of tM provisions of this mortgage resulting in a public sale of the premises covered hereby, or M tM Mortgagee soquiros
the property otherwise after default, tM Mortgagee slail appy. at tM time of tM oomrnencernent of such proooedings or at tM
time the property k otMnrise acquired. tM balance then remaining in the funds accumulated under (a) of paragraph 2 preceding
as a credit against tM amount of principal then remaining unpaid under said note.
4. That they will pay all taxes. assessments, water rates, and other gowmmentsf or munkipal drarges, fines, or imposi-
tions. for whkh provision has not been made hereinbeforc. and in default thereof, tM MoRgsgae may pay tM same and be
severed by the lien of tM mortgage; and that they will promptly deliver tM official receipts therefore to tM Mortgagee.
5. That they will permf~ commit. or suffer no waste, impairment, or deterioratbn of said property or arty part thereof. and
in the event of the failure of tM Mortgagors to keep the buildings or said premises and those to be erected on said promises. or
improvements thereon, in good repair. tM Mortgagee may make such repairs as in its discrotion it may deem necessary for the
proper prcsenatbn tMroof, and tM full-amount of each and every such payment shall be immediatey due and payable, and
shall be secured by tM lien of this mortgage.
6. That they will pay a!1 and singular the casts. charges. and expenses. including reasonable lawyer's foes. and costs of
ahstrads of title, incurrM or paid at any time by tM Mortgagee because of tM failure on tM part of ~ Mortgagors promptly
and fuly to perform the agreements and covenants of said promissory note and this mortgage. and said costs. charges and ex-
penses shall be immediately due and payable and shall be secured by the lien of this mortgage.
7. That they will keep tM impraventents raw existing or hereafter eroded on the mortgaged property irisurod as may be
required from time to time by tM Mortgagee against loss by fin or other hazards. caswRies, and toritirrgendes in such amounts
and for such periods as may be required by Mortgagee, and x611 pay prompty; when due; any premiums on such iriwrance for pay
ment of which provision has not been made heninbefore. Atl inwrence shall be carried in companies approved by Mortgagee
and the polities and ronewafs thereof shall ba bald bll Mortgagee and have attached tMreto bas payable douses in favor of and
in corm aoreptable to tM Mortgagee. Renewal polkies sMll be delivered to Mortgagee at least 10 days prior to expiration of exist-
ing policy. In evert of bas. they will give immediatey notice by mail to Mortgagee. and Mortgagee may make proof of bas if not
made prompty by Mortgagor, and each insurance company co:icemed is hereby authorized and directed to make payment for
such loss dircdy to Mortgagee instead of to Mortgagors-and Mortgagee jointy, and the iriwnnoe proceeds, or any part thereof,
may be applied by Mortgagee n its option either to tM roductbn of the indebtedness hereby secured or to tM restoration or re-
pairs of the property damaged. In event of toreciowro of thk mortgage or other trensier of title to the mortgaged property in ex-
tinguishment of tM indebtadnsss secured Mrcby, all right, title and interest of tM Mortgagors in and {o any inwranoe poikies
then in force shall pass to tM purchaser or grantee.
8. That the Mortgages may. at any time pending a wit upon this mortgage, apply to the court having jurisdiction thsroof
for the appointment of a receiver, and such court sha0 forthwith appoint a rooeiver of tM premises covered Mrcb+y all and sir?gu-
lar, including all and singular the Income, profits, issues, and revenues from whatever source derived. each and every of whkh, it
being expressly understood, is hereby mortgaged a: if specifically set forth and described in the granting and habendum clauses
hereof. and wch receiver shall have all the broad and effediw funetioris and powers in anywise eMnrsted by a oouR to a reseiver,
and such appointment shalt be made by wch court ss an admitted equity and a matter of atxiolute right to said Mortgagee. and
without reference to tM adequacy or inadequacy of the value of tM property mortgaged or to tM solvency or insolvency of said
Mortgagors or tM defendants, and that such rorits, profits, income, issues and revenues shall be applied by wch receiver accord-
ing to the lien of this mortgage and prsctke of such court.
9. Tlurt (a) in tM event of any breach of this mortgage or default ort the part of the Mortgagors, or (b) in tM event that arry
of said wms of money trareirt referred to be not promptly and fulyr paid without demand a notke. or (c) in the event that each
and every tM stipulations, agreements, conditions and covenants of said note and this mortgage. sro not duly, promptly and fuly
performed: then in either or any such event, tM said aggregab wm mentioned in said note tMn remaining unpaid. with interest
accrued to that time, and sli moneys secured heroby, shit became due and payable forthwith, or thereafter. st the optbn of said
Mortgagee. ss fully and oompletey ss if all of fire said sums of money were origlnaly stipulated to be paid on such day, any-
thing in said note or in this mortgage to tM contrary notwithstanding: and thereupon or tMresfter, at the option of said Mort-
gagee. without notice or demand. suit at law or in equity. may be prosecuted as if ail moneys secured Mroby had matured prior
to its institution. The Mortgagee may foreclose this mortgage, as to the amount so declared dos and payable. and the said
premises shaft be sold to satisfy and pay tM settle together with costs, expenses, and albwances. In cases of partial forectosurc
of this mortgage, the mortgaged premises shall be sold subject to tM continuing lien of this mortgage for the amount of the debt
not then due and unpaid. In such case the provisbns of this paragraph may again be availed of thereafter from time to time by
the Mortgagee.
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