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PROVIDED. AI.a'AYS, that if the 111ortgagotr shall paJ unto the Mortgagee the indel,trdnr•s ea itlenceti by a
certain promiaory note 7ftl~t8 rineiual m[1DUnt $5d r 500
/executed simultaneous '~erewi h, which Promissory oteAbears
interest at an annual rate equal to the prime rate charged by Stun><litBank.and
payable both Principal and Interest in full one (1) year from the date thereof.
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and shall perform. comply with. and abide by each tend every the stipulations, agreements, conditions and co.enants of
said promissory note and of this deed,lhen this deed and the estate thereby created shall cease and be nu]l and ~ oid.
1. The Mortgagor covenanU and agrees:
(a) To par a)1 and i ar the QQrincipal and interest and other sums of money payable by virt»e of acid promiaory note anJ thin
decd, or either, proM~~on'tl~~days?respcetitrely tl{e yatae.serfrallr becomes doe. P
(b) To permit. commit or suffer ~.wrdevu.d to wsrintain the improvements at dl times in a state of good repair and condition; and
to do or permit to be donee acid prensisea,~sothin that will alter or change the use and character of said property ar in any way
impair or weaken the steurli'y of'1Kiigldsrtg~ge. •At~ iaNlil ~f~ refusal, aeglett or inability of the ?Mortgagor to itpair and maintain
said property. the Mortgagee may, at his option, make sash repass or cause the same to be made. and advance moneys in that behalf.
~ (c) To pay all and singular the taxes, asatssments, levies, liabilities. and obligations of every nature on said described properly each
and every ..hen due a,sd payable according to law, before they become delinquent. and tt, deliver to the Mortgagee on or before March
~ 15th of cash year. tax receipts evidencing Ilse payment of all lawfully imposed taxes for the preceding calendar year; to indunnify the •
Mortgagee upon hie demand for all axes, ¦weasnsents and charges that may be assessed upon this mortgage on the indebtedness secured {
hereby, and paid by the mortgagee. wltl?ont regard to our h?w heretafere enacted or hereafter to be enacted imposing pa}tinent of the }
whole or any part thereof upon the yortgagee.
6 ld) To par all'and singular the coats. charges and expenses. intluJing lawyen' fees ¦nd abstract coals reasonably incurred or paid at
~ any time by the mortgagee because of the failure on the part of the Mortgagor to perform, comply with ¦nd abide by each and every
! the atipulatioru, agreements, conditions and cuaenanta of said promissory note and this deed. or either, and every ouch pa}~nent shall
bear interest from date at the rate of
(e) It is furthu covenanted and rgreed by wid ppaaroes that in the eaent of ¦ suit being instituted to foreclose thin mortgage. the Sion- e'
~ gages shall be entitled to apply at any time pestling such foreclosure suit to the court having jurisdiction elsereof for the appointment
of • reeeiaer of ail and singular the mortpged property, and of all rents, incoases, profits, issues and revenues thereof, from whatsoever
6 aonree derived; and thereupon it is hereby expressly covenanted and agreed that tl,e Court shall forthwith appoint such receiver with
the naval powers and duties of reeeiaers in like eases; and said appointment shall be made by the court a: • matter of strict tight to
the Mortgagee, and without referesue ~to the adequacy or inadequacy of the value of the property hereby mortgaged, or to the solvency
~ or insolvency of the mongagon or any other party defendant to such suit.rThe Mortgagor hereby specifically waives the right to
object to the appointment of • receiver as aforesaid and hereby expressly consents that sash appointment ahsil be u,adt as an admitted _
equity ¦nd as a matter of absolute right to the Monpgee and that the sane may be done without note to the Mortgagor.
(f) U foretlosnre proceedings should be instituted aRaitsst the property covered by this mortgage upon any other lien or claim whether
alleged to be superior ur juniyr to the lids of this n,ortfage the Morgagce mar at Isis option immediately upon institution of such
suit or during the pendency thereof declare this mortgage aa~ the imlebtedness secured hereby due and payable torthw,th and n,a} at
t sea option proceed to foretloae this nsorigaEe.
(g) That the Jiortpgor will keep all real and personal property now or hereafter encumbered by the lien of ehia mortgage insured
u may be required from time to rinse ky the Mortgagee against loss l.y fire. windstorm and. othu hazards; tasualtiea and contingencies
for such periods and for nut less than such amounts as nay be required by the ?lfoctgagee and to pay promptly when due all premiums
for ouch insurance. The amounts of iruurrnce required by the Mortgagee shall be flu msinin,um atuounta for wl~ith said insurance shall
i be written and it shall be incumbent upon the Mortgagor to maintain such additional insurance as n,ay be ntcessary to meet anJ tomPly
fully with all co-insurance requirements contained in wid polities to the end that flee said• Mortgagor is not a co•insuror thereunder.
insunnte shall be written by r ruu,pany or rampania appproved er designated by the Mortgagee and all Policies snd renes.als thereof
shall be held by the \forgaRee. All detailed designations by the Mortgagor which are accepted by else Mortgagee and all apiensenta
between ~1ortEagor and ~tongaRee rclatin to insurance. now existing ur hereafter made. shall be in writing an~shall be a par of this
mortgage agreement as fully as though set~orih verbatim herein a„d shall govern both parties hereto and their successors and wssiE~is. 4
No lien upon any of said ppolitics of insurance or upon any refund or return premium which may be payable un the cancellation ar
ter,sinatiun thereof. shall be given to whet than tl,e MortgaEee. care t by pproper emdorsensrnt affixed to ouch policy and appru•ed by
3ortgagee. Esth policy of invuramte shall l,axe affixed thereto a ~tani~ard ~1esr Yerk MortRrgte Clause without Contribution. mak~nR
all lose or losses under such policy payable to the tiiortgagee as its interest may appear. In the event any sum or soma of moot} becorne
payable thereunder the Mortgagee shall have tl,e option to receive and apply the wmt oa account of the indebtedness hereby :scared.
er to permit the Mortgagor to receive sad use it. or any part thereof, without thereby waiving or impairing any equity. lien. or riElit .
under- and by rirue of thin morgage. In went of low or physical dosage to the mortgaged properly the ~'fortgagor shall Eiae immr
diate notice thereof by mail to the Mortgagee and the Mortgagee may mrke proof of loss if the ame is not made promptly by the
Mortgagor. In evem of foreclosure of this mortgage or other transfer of tide to the wortgaged property in extinguishment of the indebt-
ednca secured hereby, all right, title and intcrtst of the Mortgagor in and to soy iruuranee polieid then in forte shall pass to the
purchaser or grantee.
(h) To perform, comply with and abide by sash and every the stipulations, agreements, cogditions sad cerewnu is said promissory
note and in this deed set fertls.
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80aK ~ PACE 2818