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indebtedn~ss secur~~d hareby, ancl be~r intnrPSt ~t the sam~ ratc~ as specitied in
tt~e Rote. The f~i2ure of the'Aort~ac~or to com~ly ~~~ith the covenants c:anTained in
thf~ par~c~rapt~ shall constitut~ a k~t?aca and dcfz~li of this '.loi-tqage.
4. Th~ •9ortgagor covenants to keep che ianprovements on siid prop-
erty, and the perso~al o~o~~rty cont3i~~ed therein, i~i good i•e~ ~ir and co~ciition.
and furtli~~r co~>>nan:s not •~ 5e qu:lty of ~~~;,st~, either i~tive or per:nissive.
5. If at any time or ti-:~~s duri~c~ the e~cistence ~f tlle !ndebter3ness
sec~r~d her~~:n~~r t;~a prc;perty herPin descr:~ed ~hall 5e sold ~r tr3nsferred
without the ~vritten consent of the "]ortga~_»n, t'~n ~~tort~.~gee ma~- ~t its option
a~td ~vitnout noCicQ ~:~cl~~re the ~ntire indebt~c~nes~ secui•~d hereby imtnpdistely
du3 arid psyable.
6. iortga~or ~Nill pay ~1~ and sin~;ul•~~ the costs,_ charg~s ~nd
expenses, inclu:'ing re~sonahle aftorn~y's fees (which f~es sh~ll inclu :e fees
1~ conna::tior. with appeal, ii any) , c:ost of abstracts ~f ~~tle ~nd citle sParches
in:,ur:eu or pa~d at any ti-n~ by Lhe'•4~rtc~agc.~~ ~ec~~lse ~f the fail~~re on the part
of the `~lortg~gor ~rc~~tly and fullti~ t^ ~erfo; m t1e .~gree~,ent~ ~n~ cov~nants
of thQ ?Vo;e and -h~s -•lortcag~, and said costs, Gt13f•7~S and exuense~ shall b~
im^.~eoiat~iy due a:~d oayablP and .shall be s~c~ire~ ~y the li~n of this '4ortq~q~,
and sucl~ ex~pndi:ures shall ~ra•~: int~re:t at thc~ san:~ r~t~ =:s sc~cifi~d in th`
rJ~te .
7. The 'sorrr,age~ may, at .sny ti-n~ t-r'~ile a suit is ~an~ing to .`or~-
close or tu refor*n tilis -~iort~age, or to enforc~ any cl~ir^.; 3r~~1t1~ f1Cr3U11C~pr,
apply to ;?:~ court having jurisdicTlon thereoi for the :~~~oint~nent ~f : receiv~r,
and s~ch court shall forthw:th ~ppoint a receiver ~f chz premiszs ~nd all ot'.:er
property cavered hareby, in~luding all and sing~_11r t~1e ir.cor:le, prc;its, rents,
issu~s and revenues iro:n ~vh~tever source ci~ri~~~~, and such r~ce;v~r ah~:l
have a~l tne hmad ~nd ~f~~ctive fur.ctions and pov~ers in anytivi~e en~rust~d by
a court to a recei~Yr, and s~sch appointrn?nt sh~,~l be m~~~~ ~.~y sucn court .~~ an
adr!~itted eouity 3nd •i rna~ter of ~b~olut^ riqht to sai•-~ •'Iort~a.3~a, and ~~ithout
reierence to :n•~ ~d~~u3cti~ ~r inadequacy of the v~lue of the property mort~aged
er to th~ s~lvency or inso:vency ~f s~d '•-tortg~gor or the def~ndants, 3nd such
income, ~rniits, rents, is~ues and re~renu~s sh311 ~e a~plied hy such receiver
acc~rding to th : lien of this '9ortnage and the order of such court.
8. That (~) in the ~venr. of any breach of c:~is '.Tortq~ge or defiult ~on
the part of th~ '.tortg~~or, or (~) ±n tE:e ever.: any of said su-;-s ~f money hAr~~in
referred to ~e not ~rom~~ly and fully pai~i c~ithaut der~and or n~iice, or (c) in
tne event th? sLipulatio-~s, agre`r:~~nts, conditions ~~r,~1 coven3nts of th~ ?~otc~ ~[id
this '~Iortcaqe are not duly, nromn:ly an~ fully p~r.'or~t~d , then in eithAr or in
any such event, th~ ir_c~btedne~s ~vic!enc~~ by t'~e ~~~±~ then rem~ininq unpai~l ,
~vith inter~st ac:.r~ed to that tim~, and all mone;~s s~cu: ~~d hereby, shalt F}ecom~
due and p+~y3b;e fort-~-~vith, or th~~re-lftnr, ~t ttie o~tion of ~aid '•iortc~agee, ~s
fully and co~tplet~Iy as ir .~1~ ef the s.;id sums of ~oney ~:~~r2 oriqinaLl.y sNvu:ated
to b~ paid on such day, anythinq in the 'Jotn or in chis ~ iort~~qe to the contrzry
not~vithstanding; and ther, u~o~ or thzreaft.~~, 3t the option of said ' lortgag~,
without notice or demaiid, suit at l~w or in equity, m:~y be ~ros~cuted 3s if all
moneys secured hereby h~d m~tured pri~r to its institution .
9. The failure of the ~ iortqac;ee t~ ex~rci :c ~ny of it ; o~tions to
precipit~te th~ deb~ s~cured h~~reby , b~c~usn of any vi~I ~tion of th~ r.onditions ,
agreements, or coven~nzs of this •iortqac7e, shall not constitute a~N~i~~er o: tlje
right to ex~rcise such opti~n bec:~use oi any siib~~~quent vi~l~tton, ~nd in d~-
ter•ninininq whether •~ default has occurred, ti^~e siiatl ~e considered to be of
the essence of this ~qrecment.
B00K346 P~GE2165