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tender to the Mortgagee in accordance witi? tl+e provisions of tl+e note secured l+ereb~ , full payment of the
entire indebtedness represented thereby, the Mortgagee, as trustee, shall, in computing tl~e ar+?ount of such
indebtedness, credit to tl+e account of tl+e Mortgagor any credit balance remaining under tl?e provisions of (a)
of said ph 2. 1f there s1+aU be a default under any of the provisions of this tr+ortgs~e resulting in s
public sale o tl+e premises covered hereby, or it the Mortgagee acqu?res the property otherwtse after default,
the Mortgagee, as trustee, shall apply, at the time of the commencement of such proceedings or at tl+e time
the property is otherwise acquired, the amount then retainingg to credit of Mortgagor under (a) of paragraph 2
preceding as a credit on the interest accrued and unpaid sad tl+e balance to the principal then remaining unpstd s
on said note. '
4. He will py all taxes, assessments, water rates, and other Governmental os municipal charges, fines„ ~
Impoeitioas, fort which provision has not bean made hereiabefore, and in default thereof the MortGsges may pay the .
ewe; sad that he wiU promptly deliver the otlficial receipts therefor to the Mortgagee. .
5. life wiU permit, commit, or suffer no waste, impairment, or deterioration of said property or an part thereof
eioept reasonable wear and tear; and in the event of the failure of the Mortgagor to keep the buildings on said
premises and those to be erected on said premises, or improvements thereon, in good repair the Mortgagee may
make such repairs as in its discretion it may deem necessary for the proper preacrvatioa theroo#, and the full amount
of each and every such payment shall be due sad payable thirty (30) drys after demand, sad shall be secured by
the lien of this mortgage.
6. He will pay alt and singular the costs, charges, and eicpeoaes, includinG reasonable lawyer's fees, and costs
of abstracts of title, incurred or paid at say time by the Mortgagee because of the failure on the part of the Mortgagor
promptly and fuller to perform the agreements and covenants d ~+id promissory recta and thin. mortgage, and said
costa, charges, and expenam shall be immediately due and payable and shalt be secured by the 4en of this mortgage.
7. He 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 scud premises, and except when payment
for all such premiums has ths~e~t~ofore been made under (a) of paragraph 2 hereof, he will pay promptl when
due any premiums therefor.. All insurance shall be tamed in companies approved by 1?iortgagee and t~e poli-
cies and renewals thereof shall be held by Mortgagee and have attached thereto loss payable cllauses in lsvor of
and in corm acceptable to the Mortgagee. In event of loss he will give immedute notice by mail to Mortgagee,
sad Mortgagee may make proof of Iola if not made promptly by Mortgagor, and each insurance company
concerned >s hereb authorized and directed to make payment for such loss directly Lo Mortgagee instead of
to Mortgagor and Mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by Mort•
gages at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of
the property dammed. Ia event of foreclosure of this mortgage or other transfer of title to the mortgaged
property in extu?guislunent of the indebtedness secured hereby, a~l right, title, and interest of the Mortgagor
in and to any insurance policies then in force shall pass to the purchaser or grantee.
8. if the premises, or and- part thereof, be concenmed under the power of eminent don+au+, or acquired for
a public use, tl+e clainaKes awarclecl, tl+e proceecs for the takinK of, or the consicleration for sucl+ acquisition, to
the extent of U+e full remount of the remaining unpaid indebtedness secured b~- this u+ortgale, are Lernb~•
assilmed to the Mortgagee, and hie heirs or assigns, and shall t?e paid font+with to said Mortgagee or his
assignee to be applied on accow+t of the last matunnK iustallnients of such indebtedness; provided, however,
flit ~1ortKagee or h~ assignee, u+ay at his discrntion pad- direct to the Mortgagor, his heirs or assigns an~• part
or all of sucl+ award; provided. tl?nt if tl+e loan is guaruntecd or insured, the consent of the guarantor or insurer
is obtained in advance of said payment.
9. The Mortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdiction
thereof for the appointment of s.receiver, sad such court shall forthwith appoint s receiver of the premises covered .
hereby all and 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 ae if specifically 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
' rents, profits, income, issues, and revenues shall be applied by such receiver scxording 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
agrees to pay to the Mortgagee on demand as a reasonable monthly rental for the premises an amount at least
equivalent to one-twelfth (fig) of the sggte$ate 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 beach of this mortgage or default on the part of the Mortgagor, or in the event that
any of acid 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 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 Mortgagee, as fully 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 st 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 Lo satisfy and pay the same together with costs, expenses, and allowances. In case of partial
foreclosure of this mortgage, the mortgaged premises shall be sold subject W 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
e availed of thereafter from time to time by the Mortgagee.
~ t 3. 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.
12. The lien of this inutniment 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.
1:3. If the Mortgagor default in any of the covenants or agreements contained herein, or in said note, then the
Mortgagee rosy perform the acme, and all expenditures (including reasonable attoroey's fees) made by the Mortgagee
in so do?ng shall dn?w interest at the rate provided for in the principal indebtedness, and shall 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 oy the tortgagee for the alteration, modernization, improvement, main-
; tenants, or repair of said premises, for taxes or assessments against the same and for any other purpose author-
E ized hereunder. Said note or notes shall be secured hereby on s 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 pa ents 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 so advanced steal! be due and payable thirty (30) days after demand
Dy the creditor. Ia m event shall the maturity extend beyond the ultimate caturity of the note first
described above.
BCCK JJJ P~GE~~~ '
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