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5. Pay all expenses reasonably incurred by the Nortgagee because of
failure of the Mortgagors to comply with the agreements in the note
or this mortgage, includinq reasonable attorneys' fees and appellate
costs and fees. The cost thereof, with interest thereon from the
date of payment at the same annual percentage rate as specified in the
note, shall also be secured by this mortgage. Any breach of the agree-
ments in the note or this mortgage shall cause acceleration of the note
and the entire sum shall become due and owing at the Mortgagee's option,
Any monies advanced by the Mortgagee toward the obligation of the senior
mortgage herein shall cause acceleration of the note at the Nortgagee's
option.
FURTHER, If any payment provided for in the note is not paid within thirty
days after it becomes due, or if any agreement in this mortgage other than the agree-
ment to make the payments is breached, the entire unpaid principal balance of that
note shall immediately become due at the option of the Mortgagee , and the Mortqagee
may foreclose this rartgage in the manner provided by law, and have the mortqaaed
property sold to satisfy or apply on the indebtedness hereby secured.
Any waiver of the riqht to accelerate upon any one default hereunder, shall
not be construed against the lendor, as a waiver of the right to exercise its accel-
eratien option upon any other default.
The rents and profits or the mortgaged property are also hereby mortgaged,
and if proceedings to foreclose this mortgage s~all be instituted, the court having
jurisdiction thereof should appoint a receiVer of the mortgaged property, and apply
those rents and profits to the indebtedness hereby secured, regardless of the solvency
of the Mortgagorg or the adequacy of the security. ~~
The Mortgagors shal] not assign, nor allow any assumption of this mortgage
without prior notice to and approval by the Mortgagee ,
IN WITNESS WI~EREOF, The said Mortqaqors. hereunto set their handS
and sea1S the day and year first above written.
-L.S.
~
Louise Ritchey ~•.
This instrument was prepared by: ~s. Diane W. Guerrero
return to and by
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Signed, sealed and delivered