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tender to the Mortgagee in accordance with the provisions ot•th'ie note secured Hereby, full payment of the
entire indebtedness represented thereb~•, the 4ortgagee, as trustee, shall, in coiirputing the amount of. such
indebtedness, credit to the account of the Mortgagor any credit balance rrinainiug under the provisious of (e)
of said paragraph 2. !t there shall he a default under any of the provisioirs of this tnortga~e resulting in a
public sale of the premises covered Hereby, or if the Mortgagee acquires the property oUrerwiae after default,
the Mortgagee, sa trustee, shall apply, at the time of the coiriirienceinent of such proceedings or at ttre time '
the property to otherwise acquired, the amount then remaining to credit of Mortgagor under (a) of paragraph 2
preceding as a credit on the interest accrued and unpaid and fire balance to ilre principal then remaining unpaid
on said note. ~
4. He will pay all taxes, assessments, water rates, and other governmental or murticipsl charges„ tiaee, o=
impositions, for which provision lia+i not been made heroinbetoro, and in default thereof the Mortgagee may pay the
same; and that he will promptly deliver the offici~il reoeiptti tberefor to the Mortgages •
b. He will permit, commit, or sager no waste, impairment, or deterioration of said property or an ~ thereof
except reasonable xear and tear; and in the event of the failuro of the Mortgagor to keep the buildings on eaic~
premises and those to be erected oa said premises, or impcovemente thereon, in good repair, the Mortgagee may
make such repairs as in its discretion it may deem necessary for the proper preservation thereof, and the full amount
of each and every ouch 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 costa, charges, sad expenses, including seasonable 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 iuUy to perform the agreements and covenants of said promissory note and this mortgage, and said
costa, charges, sad expenses shall be immediately due and payable sad shall be secured by the lien of this mortgage.
T. lie will continuously maintain hazard insurance, of such type or types and amounts se Mortgagee may
tram time to time require, on the improQements aow or 6ereattsr oa said premises, and except when payment
for all such premiums has theretofore been made under (s of paragraph 2 hereof he will gap prom flyy when
due any premiums therefor. All insurance shall be earned in companies approved by Illortgagee and the po~i-
cies 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,
and :Mortgagee may make proof of loss d not made prgpuptly by Mortgagor, and each insurance e~ompany
concerned is 6ereb authorized and directed to make payment for such loss directly to Mortgagee instead of
to Mortgagor and Mortgagee 3ointly, and the insurance prnceeds, or any part thereof, may be applied by Mori i
gages at its option either to rho reduction of the indebtedness hereby secured or to the restoration or repair of
the property damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged
property in extinguishment of the indebtedness secured hereby, a~l right, title, and interest of the Mortgagor
rn and to any insurance policies then in force shall pass to the purchaser or grantee.
R. If the prrmisr•s, or ant part thr•reuf, he c•ondeurned under tl?e powt•r of etuinrnt dor,ram, or ar•quimd for
u public use, thr• dnniagr•s awarded, tLe proi•i•eils fur the takinK of, or the r•onsideration fur sur•l~ hrqursition, to
the ~xtcnt of the full amount of thr remaining unpaid indebtedness srr•urnd br this mortgage, .are hereb~-
ussiKned to the ~rtortKaKee, and his heirs or r~kSi}tus, and shall ly puid forthwith to said ~IortgaKee or his
assiKnee to he applied on ac•~•ount of Use lust nraturiug installnu•ut:: of sash indebtedness; pn,vids•d, how~wer,
the \tortKuKer or his assiKnee, inuy at 1?ia discn•tion pad- direr•t to the ~1ortKal;or, hig heirs or assigns an~• part
or all of sash uWani; provided, shut if Ihr loon is Kuaranteed or insured, the consent of the gunrantur ~r insurrr
is obtained in advance of said pa~•ureut.
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 all and singular the income, profits, issue.8, sad revenues from whatever source
derived, each and every of which, it being expressly understood, is hereby mortgaged as if specifically act forth and
described in the granting and habendum clauses hereof. Such appointment shall be ~ oaas , ~y
equity and a matter of absolute right to said Mortgagee, and without reference tony~ip~jr.~, ~t' a~~t~
the value of the property mortgaged or to the solvency or insolvency of said Mo ~ o;• the defen~ucji
rents, profits, income, issues, and revenues shall be applied by such receiver accordito tlil<' Lien of this mo`~rtgagc `t
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 (ySz) 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 b_*each 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, and fully performed; then in either or any such event, the said aggregate sum mentioned ~ .
i in said note then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become
due and payable fortbwith, or thereafter, at the option of said Mortgagee, ss fully and completely sa 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 ar
demand, suit st law or in equity, may be prosecuted sa if all moneys secured hereby had matured prior to its ioatitu-
Lion. The Mortgagee may foreclose this mortgage, ae to the amount so declared •due and payable, and the said
premises ahaU be Bold to satisfy and pay the same together with costa, expenses, and allowances. In case of partial f
foreclosure of this mortgage, the mortgaged premises shall be sold subject to the eont-inning lien of this mortgage
t for the amount of the debt not then due and unpaid. In sucb case the proviaioaa of this paragraph may again be
availed of tbereatter from time to time by the Mortgagee.
t 1. No waiver of any covenant berein or of the obligation secured hereby ahaU 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 instrument shall remain in full force and effect during any poatpoaemeat or extension of
1 the time of payment of the indebtedness or any part thereof secured hereby.
~ 1:3. If the Mortgagor default in say of the covenants or agreements contained herein, or in said note, then tha
Mortgagee may perform the same, and all expenditures (including reasonable attorney's fees) made by the Mortgagee
} -in so doing shall drav? 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. .
~ X14. Upon the request o! the Mortgagee the Mortgagor shall execute and deliver a supplemental note or
not~r for the sum or sums advanced oy t6he Mortgagee Ior the alteration, modernization, improvement, main-
tenance, or repair of said premises, for taxes or assessments against the same and for any other purpose author-
1 ized hereunder. Said note or notes shall be secured hereby on a parity with and•ss fully ss if the advance
evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear
interest at the me provided for in the principal indebtedness and shag be ayable in approximately equal
1 monthly payments for such period ss may be agreed upon by the creditor and debtor. Failing to agree on the
maturity, the whole of the sum or slims so advanced shall be due and payable thirty (30) days aster demand
by the creditor. In no event shall the maturity extend beyond the ultimate c~r?turity of the note first
described above.
- 81~34i p,~i733
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