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1 tender to tho Mortg'a{;t•taq riEcurdunce witlr the ptvvisiutta of the uotr sccurecl Lerrhv, full pu~•utQUt vt sl?r
entire indebtedness repn•senled thernbv, the tilott{;agee; as trustee, shall, in con,putii,}t the amount of such
indebtedrt~sa, credit to tlu• accuw?t of tj,e \lurtgnKur any credit balance retnainiuq und,•r th,• provisions of (a)
of said par rtiph 2. If there shall bt• a defau t under auy of the provisions of this mortgage rrsultin~? in a
public sale of the pn•tuisrs ,•overed 1?ereby, or if tl?e llortgagre at•gwroa the pr,?pert~• otht•rwise after default,
• the Mortgagee, as truster, shall apply, at the tune of the commencement of sucl? proceedings or at the tinu•
- the property is otherwise acquired, the autount then remaining to credit of Liort{;agor under (a) of paragraph 2
precedinK ae a cn•dit on the tnten•st accrued and unpaid and the balance to the principal then n•u,auunK unpaid
on said note.
He will pay all taxes, aaeesaments, water rates, ,and other governmental or municipal charges, tines„ or
impositions, for which provision has not been made hereinbefore, and in default thereof the Mortgagee tray pay the
same; 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,
etccept reasonable wear and tear; and in the event of the failtnre of the Mortgagor to keep the buildings on said
pretniaea and those to be erected on said premises, or improvements thereon, in good repair, the Mortgagee tray
make such repairs as in its discretion it may deem necessary for 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 all and singular the coats, charges, and expenses, including reasonable lawyer's fees, and costs
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 this- mortgage, and said
costs, charges, and expenses shall be immediately due and payable and shall be aecuted by the lien of this mortgage.
7. Ile will continuously maintain hazard instuance, of such type or types and amounts as Mortgagee may
froth 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 (a) of paragraph 2 hereof, he will pay promptlyy when
due any premtums therefor. All insurance shall be carried in companies approved by llfortgagee and Llte poli-
cies and renewals thereof shnll be held by Mortgagee and have attached thereto loss payable clauses in favor of
and in forth acceptable to the 1~lortga~ee. in event of loss he will give immediate nonce by mail to Mortgagee,
and Lortgagee mny make proof of toss if not made promptly by Mortgagor, and each insurance company
concerned is herebyy authorized and directed to make ayment for such loss dtrectl to Mor ages instead of
to :Mortgagor and Mortgagee ""ointly, and the insurance
proceeds, or any part thereof may be applied by Morti-
gages at tts 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 tiiortgagor
to and to any insurance policies then in force shall pass to the purchaser or grantee.
K. If the pren,i•:r., or any- part thereof, hr ccnuh•nu,rd wulrr the {,uwrr of rniinrnt dun,u,n, ur ucrtuirrd fur
a public use, the dun,ul?rs u«~urdrti. th?• proceeds fur the tukint; uf, or thc• considrratiun fur suet acqui:itiun, to
the extent of the full auu,unt of Uu• rrn,ainink unpaid indrbtrdnrss secured h~' ibis u,urtKa{;r, err h,•trbt-
uxsi};nrd to the ~1ortKagrr, and his hrit~ ur a;ci~;n:, tool Shull hr paid fnrthH•ith to said ~lurtku{~rr or his
assiknrr tc, br applied on tu•cnunt of tlu• lust n,aturi„~ installn,rnts of ~urh indrbtrdnes;; pru~•idrd, however,
the \Iortk^.tl?rr t?r I,is assiknrr, u,u~• ut l,is ?li.,•rrtiun pu~• dirr,•t to tl?r ~lurtgttf?or, his h?•it~ ur usi{.•ns ttn~• part
ur all of such utvard; provided, that if the luau is }:u;,runh•rd ur insured, the c.',nsrnt of tl,r g~uirautur ur insurer
is obtained in advut?cr of .aid pu~•nu•nt.
The tilortgagee may, at any time pending a suit upon this mortgage, apply to the cotter having jurisdiction
thereof -for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered
hereby all acid singular, including all and singular the income, profits, issues, and revenues from whatever source
derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically set forth and
described in the granting aocl }?abendum clauses hereof. Such appointment shall be made by such court as an admitted
egtrity and a matter of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of
the r•alue o! the property mortgaged or to the solvency or insolvency of said Aortgagor or the defendants. Such
rents, profits, income, issues, and revenues shall tae 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
a~~ to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount at least
~ equi'~alent to one-twelfth (~2) of the aggregate of the twelve monthly installments payable in the then current
year pl-.ts the ac!ual amount of the annual taxes, assessments, water rates, and insurance premiums for such year
not covered by the aforesaid monthly payments.
I u. In the event of any b-each of this mortgage or default on the part of the 117ortgagor; or in the event that
s 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 cuvenanL9 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 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, any thing in said note or in this mortgage Lo
the contrary notwithstanding; and themupon 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-
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 costs, expenses, and allowances. In case of partial
foreclosure of this mortgage, the mortgaged prnmises 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 1liortgagee.
1 I _ No waiver of any covenant herein or of the obligation aecttred hereby shall at any time thereafter be held
to be a waiver of the terms hereof or of the note secured hereby.
1 `l. 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.. .
I:i. If the Mortgagor defatilt 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
in so doing shall draw interest at the rate provided for in the principnl indebtedness, and shall be reps}•able
thirty (30) days alter demand, and, together with interest and costs accrued thereon, shall be secured by
a 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 Mortgagee for the alteration, modernization, improvement, main-
tenance, or repair of said premises, for taxes or assessments against the same and for say 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 ayable in approximately equal
monthly pavments for such period as may be agreed -upon by the creditor and debtor. Failing to agree on the
maturity, tjie whole of the sum or sums so advanced shnl! be due and payable thin (30) da •s after demand
by the creditor. In no event shall the mattuity extend beyond the ultimate crsturity of the note first
- described above.
3(.~K c,7~,V Pd(if 74~ t;',t,K 324 ~bGF2~~3 ~ , 'J 319 79~ 4Q
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