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tender to the :~lortgngee in accordance with the provisious of the note secured hernby, full pa~'ntent of the
entire indebtedness reprexented thereby, the ~iortgsgee, es trustee, shall, in contputiitg the account of such
indebteduess, credit to the aceount of t)?e Mortgagor any credit balance retraining under the provisions of (a)
of said paragraph 2 If there xhaU he a default under an~• c?t the pmviaionA c?t this tnortga~e resulting in a
public sale of t}?e premises co~•ered hereby, or if the Mortgagee acquires the property otherwise after default,
the Mortgagee, as trustee, shall apply, at the tune of the corurencetnent of such proreediugs or at the time
cite properly is oti?erwise ac•yuired, the. an?ount then remaining to credit of Mortgagor under (a) of paragraph 2
preceding as a credit on the interest accrued and unpaid and the balance to the principal then rewaining unpaid
on said note.
4. He will pay all taxes, assessments, water ratRS, and other governmental or municipal charges, 6ae0. otr •
impositions, for which provision has not been made hereinbefore, and in default thereof the Mortgagee may pay the
acme; and that fie wiU promptly deliver the o~cial rece?ptn therefor to the Mortgagee.
5. He will permit, commit, or softer no waste, impairment, or deterioration of said property or any part thereof,
e:cept reasonable wear and tear; and in tae event of the failure of the Mortgagor to keep the buildings on said
premises and those to be erected on sales premises, or improvements thereon, in good repair, the Mortgagee may
make such repairs as in it.9 discretion it may deem neeeaeary for the proper preacrvation 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 secured by the lien of this mortgage.
7. lie will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee may
from time to time require, on the improvements now or hereafter on said premises, and except when payment
for all such premiums hes theretofore been made under (s) of paragraph 2 hereof, he will pay promptlyy when
dux any premiums therefor. All insurance shall,bQ in compames approved by Illortgagee and the poli-
cies and ti~iAwats thereof shall be held by Mortgagee an •~t ed thereto loss payable clauses in favor of
and iq ptable to the Aiortga~ee. In event bi loss fie w e immediate notice by mail to Mortgagee,
and ~ raga a may make proof of loss if not made promptly by . ortgagor, and each insurance company
concerned is herebyy~authorized and d"uected to make payment for such loss duectly to Mortgagee instead of
tp~prigggor and'.1~fortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by Mortr
ee at i option either to the reduction of the indebtedness hereby secured or to the restoration or repair of
the property dama}~ed. In event of foreclosure of this mortgage, or other transfer of title W the mortgaged
property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the Mortgagor
~n and to any insurance policies then in force shall pass to the purchaser or grantee.
If the premises, ur uu~- part therruf, be rond?•nuu•d und?•r the Iwwc•r of eminent dnniaui, ur u~•yuir?•d for
a public use, tlv• dur?ak?•s u~curded. the pro?•?•eds fur the tul:iu{?of, or the ?•ousideration fursw•I~ uec{uisition• to
the setent of the full un?ount of the ren?iiininK unpuid it:d~•I?tedm•ss sw•ured b.• th4, uu?rtKa{;e, an• hereh~-
assirnc•d to the ~1urtKakc•e•. and hi. h?•its or us.i~ns• :uul Tall he paid forthwith to said ~lortgu{:ee or his
assiKncc• to Ix• applied on ar~•mtnt of the lust n?nturin~ in~tallu?~•nts of su?•h indebtedness; pn?~•ided, ho«•e~•er,
the \lortt;aKee ur his asiKnee, tout' ut his dis?•retiun pu~• ?lir?•?•t to the `Iurt{?u{;or, his hsirs ur ussi~ns un~- part
or ull of su?•I, u~card; provuled, that if th?• loan is ku:u•:uUe?•d or insur«•d, the consent of the Kuurat?tor or insurer
i. obtained in ud~•ance of said pu~-n?ent.
The 1~Iortgagee may, at any time pending a suit upon this mortgage, apply to the court 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 alt and singular the income, profits, issues, and revenues from whatever source .
derived, each and eery of which, it being expressly understood, is hereby mortgaged sa if specifically set forth and
described in the granting and 1?abendum 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 slue of the property mortgaged or to the solvency or insolvency of said Mortgagor or t!ie defendants. Such
rents, profits, income, issues, and revenues shall he applied by such receiver accordin to the lien of this wort a e
g g g
j 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 :tortgagee on demand as a reasonable monthly rental for the promises an amount at least
equivalent to one-twelfth (~y) of the aggregate of the twelve monthly installments payable in the then current
i year plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for iwch year
not covered by the aforesaid monthly payments.
10. In the event of any beach of this mortgage or default on the part of the Mortgagor; or in tt•.e event that
! any of said sums of money herein referred to be nut promptly and fully paid according to the tenor hereof, or in the
event 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
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 141ortgagee, as ft,lly and completely as if all of the
said sums of money were originally stipulated to be paid on such day, anything in said note or in this mortgage to
the contrary notwithstanding; and thereupon 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 costa, expenses, and allowances. In case of partial
foreclo.~ure of this mortgage, the mortgaged premises shall be sold subject W the continuing lien of this mortgage
i for the amount of the debt not then due and unpaid. In sucb case the provisions of this paragraph may again be
availed of thereafter from time to time by the Mortgagee.
t I . No waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held
to be a waiver of the terms hereof or of the note secured hereby.
1 1'l. The lien of this instrument shall remain in full fdrce and effect during any postponement or extension of
I the time of payment of the indebtedness or any part thereof secured bereby.
3 t~{- If the Mortgagor default 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 attoruey'e fees) made by the Mortgagee
in so doing sha!1 draw interest at the rate provided for in the principal indebtedness, and shall be repayable
r thirty (30) days after demand, and, together with interest and costs accrued thereon, shall be secured by
this mortgage.
t4. Upon the request of the :Mortgagee the Aortgagor shall execute and deliver a supplemental note or
-notes for the sum or sums advanced ~y the Mortgagee for the alteration, modernization, improvement, main-
; tenance, or repair of said premises, for taxes or assessments against the same and for an}• other purlwse 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 payable in approximately equal
~ monthly payments for such period as may be agreed upon by the creditor and debtor. Failling to agree on the
maturity, tote whole of the sum or sums so advanced shall be due and payable thirty (30) days after demand
by the creditor. In no event shall the maturity extend beyond the ultimate ciaturity of the note first
described above.
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