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tender to the Mortgagee in accordance with the prorigio~a of U?e note secured hereby, full payment of the
entire indebtedness repreeer?ted therab ,the Mortaadea,-as trustee, shag, in computing the amount of such
indebleddness, credit to the account of t~e Mortgagor any credit balance re?nait?ing under tl?e provisions of (a)
of said paragraph Z. It there shall be a de[auullt under any of the provisions of this ??iortga~e resulting in a .
public sale of the premises covered hereby, of if the Mortgagee acquires the Property otherwise after default,
the Mortgagee, r trustee. shall apply. at the tame.Of the eoin?nencen?ent of such prraceedings or at tl?e lima
the progeny r otherwise acquired, the amount then rinuinung to credit of Mortgagor under (a) of paragraph 2
preoedrr?g d a credit oa the interest accrued end unpud and the balance to the prmc?pal then remain?ng unpaid
on sad note.
4. He will pay all rases, aereasmeatr, wager rates. and other ~ovasamental oe municipal chas'se+, floes, of
impoitieae. for whkh provisioe, has not hem ode heeeiabefore, and m default thereof the ltortg/?aes ma3r la1Y ~
same; and that bs will pcamptb daBver the oi5eiai teoeipta tbstefor to the Mottles.
5. He will permit, commit, or suffer m waste, impartment, or deterioration of said property ae a~~part thereof
emoept teasooabk wear and t~ear• and in the event of the iailisre of tbs lldoetg??gor to keep the bus iagp oa sai~
premises and those to be erecte~ on said premrsea, a improvements thereon, in Good repair the Mortgagee may
make each repairs as in its diseretioa rt ssi?y deem neoeeeaty for the proper pteearvalioa thereo~ and the full amount
of each and every eudi payment shall bs due and pyrabis thirty (34) days after demand, sad ahaD bs secured by
the lien of this mort~p.
6~ 8e will pay all and eingul:r the costs„ and eapecises, including reaeoosbis hwyer's ices, and cosh
of abstracts of titb, incurred or paid at any time by the Mart~sgee because of tLe failure on the part of the Mort~or
P~PU7? and ~ perform the agremnents and covenants of said peomiseory note and this. and said
costs, eharses„ expenses shall be immediately due and payable and shall be secured by the Bean of
t~'
~morfgsge.
7. He will continuouslj maintain hazard insiuranoe, of-such type or types sad amountf as Mortgagee may .
from time to time require, on the improvements ~w or hereafter on said _ and e:cspt when payment -
tor all such premiums hoe theretofore been made under ~(a of paragraph 2~ will Fey' p~oa~pt~y when
due any premiums therefor. All insurance shall be carried in ~P°II1ed thereto loesby gn~_tibevopr of
ciea and'renewala thereof shall be held by Mortgagee and ha a pay
and in form acceptable to the Mor In event of lase he will give immediate notice by mail to Mortgagee,
and Mortgagee may make ,proof o~ if not made prnmptly by Mortgagor, and each insurance company
concerned is hereby authorised and directed to make payment for such loss directly-to M~rtgp~ee •iinstsad of
to Mortgagor and Mortgagee 'oin ,and the insurance proceeds, or any part thereof, may be spp7ied by Mortr
gages at its option either to t~e reduction of the indebtedness hereby secured or to the restoratwn or repair of
the property dammed In event of foreclosure of this mortgage, or other transfer of title-to tb! mortgaged
property ~n extinguishment of the indebtedness secured hereby, all right, title, and interest of the Mortgagor
is and to any insurance policies then in force shall pass to the purchaser or g~antes. .
S. If tl+e preuises, or and part tl+ereot, be concenmed under the power of eminent domaw, or acquired for
a public use, tl+e cla??+ages awarclecl, tl+e pra•eccls for tl+e takingg of, or the consicleration for sucl+ acquis+tion, to
the extent of the full s?uount of the remaining unpaic! indebtedness serurcd h}• this mortgage, arc hereb~-
assigned to the Mortgagee, and his heirs or assigns, uncl -stall Tx~ paid forthwitL to said Mortgagee or his
ass?gnee to be applied on account of tl+e last u+aturinK instsil?uents of such indebtedness; provided, however,
the Mortgagee or 1+i.4 a_ssi~ncc, cosy at his discrctiot? pnr clirec•t to the 3lortgsgor, !?i3 1ri ilk nr s?ssig?+s any part
or all of such award; provided, that if fire loan is Kuara?itec~l or insured, the consent of the guarantor or insurer
is obtained in advance of said pad n+ent.
9. The Mortgagee may, at any time pending s suit upon thin mortgage, aPPIY ~ ~ ~~g jurisdiction
thereof for the appointment of a receiver, sad such court shall forthwith appoint a receiver of the premises covered
hereby all sad singular, including all and singular the income, profits, issues, and revenues from whatever source
derived, each sad every of which, it being expressly understood, is hereby mortgaged as if speciScally set forth. 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 the defendants Such
~I'; rents, pro5ts, income, issues, and revenues shall l1e applied by such receiver according to the lien of this mortgage
l and the practice of such court. In the event of any default on the part of the Mortgagor hereunder, the Mortgagor
agrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount st least
equivalent to one-twelfth (34x) of the sggrcgate 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.
10. In the event of any b-+each of thin mortgage or default on the part of the Mortgagors or in the event that
l say of acid soma of money herein referred to be not promptly. snd fully paid accordsng to the tenor hereof, or in the
etreat 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
is said Hots 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, as fully,and completely as if all of the
said Bums of money wen originally stipulated to be paid on such day, anything in said note or in this mortgage to
the contrary notwithstanding; sad thereupon or thereafter, at the option of said Mortgagee, without notice ~r
demand, suit at Isw or in equity, may be prosecuted as if ell moneys secured hereby had matured prior to its instates
flora. 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 paj? the same together with costa, expenses= and allowances. Ia case of partial
foreclosure of this mortgage, the mortgaged premises shall be Bold 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.
I I. No waiver of any covenant herein or of the obligation decured hereby shall at any time thereafter be held
to be s waiver of the terms hereof or of the note secured hereby.
12. The lien of this instrument shall remain in full force and effect during any postponement or estenaion of
the time of payment of t~ indebtedness or any part thereof secwed herby.
13. If the Mortgagor default in any of the covenants or agreements contained herein, or in acid note, then the
Mortgagee may perform the same, sad all expenditures (including reasonable attorney's fees) made by the Mortgagee
in so doing shall drew interest at the me provided for in the principal indebtedness, and shell 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 of the Mortgagee the Mortgagor shall execute and deliver a supplemental note or
notes for the sum or sums advanced Dy the `tortgagee 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 es 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 eyable in approximately equal
monthly pa menu 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 sa advanced shall i,e due sad payable thirty (30) days after demand
by -the creditor. In no event shall the maturity extend beyond the ultimate raatwity of the note first
described above. - ~ `
nR Pl~f(A`~~
~~3~~ ~~~.987 ~