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tender to the Mortgagee in accordance with the provisions o[ tl~e note secured !?ereb~ , full payment of tl?e '
entire indebtedness represented thereby, the Mortgagee, as trustee, shall, in computing the amount of such
indebtedness, credit to rtes account of t~~e Mortgagor any credit balance remaining under the provisions of (a)
of said p nph 2. It there shall be a default under any of the provisions of this tnortgs~e resulting in a
public sal the premises covered hereby, or if the Mortgagee acquues the property otl~ervrtse after default,
the Mortgagee, as trustee, shall apply, at the time< of the cotiitnencement of such proceedings or at the time
the property is otherwise acquired, the ~?trtount they re?u~sintngg to credit of Mortgagor under (a) of paragraph 2
preceding as a credit on the interest accrued and unpaid and flee balance to the principal then remaining unpud '
on said note.
4. He will pay ell taxes, aitseesmeats, water rates, and othe~c vernmea4l out municipal eharges, fines, ~
impositions, fos whloh provision has not been made hereiabetore, sad in default thereof the Mortgagee myy pay tbs
same; sad that hA will promptlvy deliver the official receipts therefor to the Mortgagee.
b. He will permit, commit, or suffer no waste, impairment, or deterioration of said property or any part thereof
e~ccept reasonable wear and tear; and in the event of the failure of the Mortgagor to keep the buildings on said
premises sad thaee to be erected on said premises, or improvements thereon, is good repair the Mortgagee may
make such repairs as in its discretion it may deem necessary for the proper preservation thereo~, sad the lull amount '
of each and every such paymeaC shall be due and payable thirty (30) days after demand, sad shall bs secured by
the lien of this mortgage.
6. He will pay all sad singular the costs, charges, and expenses, including reasonable lawyer's fees, and costs
of abstracts of title, incurred or paid at any time by the Mortgagee bec;stise 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, sad expenses shall be immediately due and payable and shall be secured .by the lien of this mortgage.
7. He will continuously maig 5inaurance, of such type or types and amounts as Mortgagee may
from time to time require, on the lmprovetnents now or herestter oq said premises and except when payment 1
for all such premiums has theretofore been made under (a) of paragraph 2 hereof 'he will pay promptly when
due any premiums therefor. All insurance shall be carried in companies approved by I?lortgagee and the poli-
ties and renewals thereof shall be held by Mortgagee and have attached thereto loss payable clauses in favor of
and in form acceptable to the Mortgagee. In event of loss he will give immediate notice by mail to Mortgagee,
a4nd Mortgagee may make proof of Ions if not made promptly by Mortgagor, and each insurance company ,
concerned to hereby authorised and directed to make payment for such lose directly to Mortgaaggee instead of
to Mortgagor and Mortgagee ointly, and the insurance proceeds, or any part thereof, may be apyplied by Mortr
gages at its option gither ~ t~e reduction of the indebtedness hereby secured or to the restoration or repair of
the property damaged. ` In extent of foreclosure of this mortgage or other transfer of LitIe to the mortgaged
property in extinguishment of the indebtedness secured hereby, a~i right, title, and interest of the Mortgagor
in and to any insurance policies then in force shall pASa to the purchaser or ¢rantee.
8. If the premises, or auk- part thereof, be eonclennied wider the power of eminent. domain, or acquired for
a public use, the dawages awarded, the proceeds for the takingg of, or the consideration for suc!? acquisition, to
t!?e extcnt•of the full amount of the remaining unpaid indebteclncss secured b~• this uortgage, am hereb~•
assigned to the Mortgagee, and his heirs or assigns, and shall lx• gold forthwith to said Mortgagee or his
assignee to tx+ applieil on account of the last maturing installments of such indebtedness; pmrided, however,
the Mortgagee or his assignee, uia~- at his discretion pad- direct to the Mortgagor, his heirs or assigns and part
or all of such award; provided, that if the loan is guurunteed or insured, the consent of the guarantor or insurer
is obtained in advance of said pa~•ucent. -
9. The Mortgagee 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 and singular, including sU and singular the income, proSts, issues, and revenues from whatever source
derived, each and every of which, it being expressly.understood, is hereby mortgaged sa if speciScally set forth and
described in the granting and habendum clauses hereof. Such appointment shall be made by such court sa an admitted
equity and a matter of absolute right to said Mortgagee, stud 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, profile, income, issues, and revenues shall lee applied by such receiver according to the lien of this mortgage
and the practice of auc6 court. Ia the event of any default on the pmt of the Mortgagor hereunder, the Mortgagor
agrees to pay to the Mortgagee on demand sa a reasonable monthly rental for the premises an amount at least
equivalent to one-twelfth (~Z) of the aggregate 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 Mortgagors or in the event that
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 covenants of said note and this mortgage,
are not duly, promptly, sad 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 soma 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 ae if all moneys secured hereby had matured prior to its institu-
tion. The Mortgagee may foreclose this mortgage, sa to the amount eo declared due and payable, and the said
ppremieea shall be sold to satisfy and pay the same together with costa, expenses, and allowances. In case of partial
foreclosure of this mortgage, the mortgaged premises shall be sold subject to the oontiauing 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.
l l . No waiver of any covenant herein or of the obUgation secured hereby shall ar say time thereafter be held
to be a waiver of the terms hereof or of the note secured hereby.
12. The lien of this instrument shall remain in full force and eRect during any postponement or extension of
the time of payment of the indebtedness or any part thereof secured hereby.
13. If tbe Mortgagor default in any of the eovenante or agreements contained herein, or in said note, then the
Mortgagee rosy perform the same, and all expenditures (including reasonable attorney's fees) made by the Mortgagee
in so doing shalt draw interest at the rate provided for in the principal indebtedness, and shall be regayable =
thirty (30) days alter 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 by the ti{ortgagee for the alteration, modernization, improvement, main-
tenance, or repair of said premises, for taxes or assessments against the same and tor.any other purpose author-
ised hereunder. Said note or notes shall be secured hereby on a parity with and as fully sa 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 syable in approximately equal
monthly pa menu for such period as rosy be agreed upon by the creditor and debtor. Failing to agree on the
maturity, the whole of t•he sum or slims so advanced shall be due and. payable thirty (30) days after demand
by the creditor. In uo event shall the maturity extend beyond the ultimate raturity of the note first
described above.
3A~K 3.35 . PdGE 455
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