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tender to the Tbiort&agee in accurJonee wit4 ti~e p~ovisions ot t1~P not~ xerured her~~b~•, full pa~•n~ent ot the
entire indebtedneas reprrsen~ed thereb~ ~ tl-e tilortgagee, as truate~, ahall, in compuling 11~e eii~ounl of sucl~
indebteJueBS~ credit to tl~e eccount of tl~e MortgaKor nny credit balst~ce re~neinin~ und~r the provi~ions ot (s) '
ot ssid ~raph 2. !t 1he~e ahall bc a default u~der any o! the provi~iona o( 11~is mortga~e rNSUlting in a #
public sale o the premises covered liereb~•, or if ti-e Mortgagre acqwres ti-e property otlierw~se after default,
the Morlgagee~ as truatee~ s!-sll apply~ st the time ot the commencement ot such proceedings or at tl-e time
the property is otl~erwise acquired~ the ~mount then re~ueinin~ ~o credit ot h9ortgagor under (a) o! paragrapli 2
preceding as a credit on the inte~eat sccrued 4nd unpaid snd t ie balsnce to the principal then rernaiiun~ unpaid .
on ssid notR.
4. He ~riU pay aq Laues~ aaeeesmenta~ w~ter rst~es~ aad other governmental or municipst ehe~rges, fiaa. oe
impoeitioas, !or wLieh provisioa haa no~ been made hereinbetore, iwd in def~ult thereot the Mortaagee maY W-Y t~hs
eaa~e; and Lhat he will promptly deliver the official t~eoeipt~ therefor to the Mortg,sgee.
b. He aill permit~ oommi~. or auHer no waate, impsirment. or deterioration ot eaid property ot anp part thereot
e~ccept reaeonabk Mesr sad tear; aad in We event ot the tailure ot the Mortgsgor to keep the buildinga on said
premisea and thoee to be erected on asid premiaes. or impwvements thereon, in good repsir~ the Mortgsgee may
maka such npsirs sa in ite diecretion it may deem neceeeary for t6e proper preacrvstion thereof~ and the full amouaL
oi eacb end every such paymenL ehall be due a-nd p-y~ble thirty (30) days atter demand, and ahsil be eecured by
t~he lien oi this mortgage.
6. He will pay all i-nd ningular t,~e ooete, charges, und e~cpenees. including reaaonable le-wyefa feee, aad oosts
of abetrocts ot title~ incurred or paid at sny time by the Mortgagee bec~uee of the failure on the part of the Mortgagor
promptly and fuUy to pertorm the agrcementa and covenanta oi eaid promieeory note and thia morcgage~ and seud
ooets, chargee~ snd expensee shall be immediately due and payable snd ahall be eecur~d by the lien of fhia mortgage.
7. He will oontinuoualy maintain hszard insurance~ oi euch type or types end amounts as Mortgagee msy
trom Lime to time require, on the improvemente now or hereatter on sai~ premises, and e.~cept when payment
for all such premiums hea there~ofa~t~ been ipsde under (s) oi pscagraph 2 hereoi~ 6e will pay promptly when
due any premiums therefor. All insurence shaU be carried in companiea spproved by 111origagee and the poli-
cies and reaewals-thereof shnll be held by Mor~,gagee and 6ave attached thereto loss psyable clause8 in isvor of
and in torm ecceptable to the Mortgagee. In event oi loss he will give immediate notice by msil to Mortgagee,
aad Mortgagee may make proof ot Ioss if not made promptly by Mortgagor~ and each insurance oompany
ooncerned is hereby authoriaed and directed to make payment for auch loss directly to Mortgagee instead of
to Mortgagor and 1liortgagee jointly~ and the insurance proceeds~ or sny psrt thereof~ may be applied by Mor~
gagee at its option either to t6e reduction of the indebt~edneas hereby secuted or to the restoration or repair of
the pmperty dama~ed. In event of forectosure of thia mortgage or other transter ot title to the mortgaged
pmperty in ractingwshment o! the indebtedness secured hereby~ a~i nght~ title~ and interest oi the Mortgagor
m and to any iasurance policiea then in force shaU p~-ss to the purchsser or grantee.
R. If thr premis~w, or unr purt tl~c~r~~of, }-r ~•ond~~i~~n~~~l uud~r th~ pow•~•r o~ en~in~nt donu~in, ur u~•yuirc~~l for
~ public us~~, tl~e dau~nK~~s a~ar~led, the• pmre~~ds fur th~~ takin~; of, or th~• ~onsid~rution for ~u~•I~ aryu4sition, to
th~ ~~rtent ot tl~e full uinount of t)ie r~•nisininK unpai~l ind~l-t~~ln~~~ s~~~•umd 1-~- tliis i~iortKu~e. nr~ 1-~r~b~-
assi~;ned to tl~e ~1ortKaKee, uu~l his hi~it~ ur ~,sikns. urnl ~h:~ll tN~ pi~i~l forthw•ith to sui~l ~1ort~;u};~~~~ or I~is
assi~nee to tx• appli~vl rn~ a~•roui~t of Ihr lu.t iuaturi~i~ install~n~•uts of surl~ ind~btedtu•u: proci~le~l, hoH•e~•dr,
thc ~IortKs~ce or hi.s :~csiKn~~, n~a~- at 1-is ~14.~•rnlion pa~• ~lin•~•t to tl~~ ~1ort~;u~or, his L~•irs or assi~;ns un~• pnrt
or all of such aw•ard; provid~yl, c~~a~ ~r cr~~• loui~ is }~u:ir:u-t~•~•~1 or insun•~1, th~ c•ons~nt of th~• guUrantor or insurer
is obtain~•~l in advance of ~aid puriu~•nt. ' .
!1- The 1~lortgagee may, at any time pending a suit upon this mortgage~ apply Lo the court having juriadiction
t6ereof tor the appointment of a receiver~ and suc6 court shall forthwith appoint s receiver of the premises covered
hereby all and singutar, including all and singular the income. pro6te~ issues~ and revenues from whatever source
derived, each and every of which~ it being expressly understood~ ia hereby mortgaged as ii apeci6cally aet torth and
dePCribed in the granting and habendum clauses hereof. $uch appointment ahall be made by such aonrt as an admitted
equity and a metter of .absolute right to esid Mortgagee, snd without reference to the adequacy or inadequacy of
the value of the property mortgaged or to the aolvency or insolvency of said Mortgagor or the defendants.- Such
renta~ profits, income. issues~ and revenues ahaU be applieJ by such receiver according to the lien of thia mortgage
and the practice of such court. In t6e event of any default on the part of the Mortgagor hereunder~ Lhe Mortgagor
egree~s to psy to the Mortgagee on demand as a reasonable monthly rental for the premises an amount at least
equivalent to one-twelfth (~Z) of the aggregate of the twelve monthly installmente payable in the then current
year plua the sctusl amount of the annual taxea, aseessmente, water ratea~ and inaurance premiums for such year
not oovered by the sforesaid monthly paymente.
10. In t6e event of any b-eac6 oi this mortgage or default on the part of the Mortgagor; or in ~he event thet
any of said sums of money herein referred to be not promptly and fulty paid accotding to lhe tenor hereof, or in the
event that each snd every the atipulations, agreements~ conditions, and covenanLs of said note and this mortgage~
are not duly, promptly, and fully performed; then in either or any such event~ the sr.id aggmgate sum mentioned
in said note then remaining unpaid, with interest sccrued to that time, and all moneys secured hereby~ ahall become
due and payable forthwith, or thereafter, at the optioa o( said Nlortgagee, as fully and completely as i( sll of the
esid aums of money were originally atipulated to be psid on such day, anything in said note or in this mortgage to
the contrary notwithstanding; sad thereupon or thereafter~ at the option of said hiortgagee~ without notice ~r
demand, suit at law or in equity, msy be prosecuted as if all moneys secured hereby had matured prior to its institu-
tion. The :Nortgagee may foreclose this mortRage, as to the amount ao dec{ared due and payable, and the said
pmmieee ahall be sold to satisfy and pay the same together with coats~ expenaee, and allowances. In ca.ge of partial
toreclosure of this mortgage, the mortgaged premisea shall be sold aubject to the continuiag lien of this mortgage
for the amount of the debt not then due and unpaid. In such csse the provisions of thia paragraph may again be
svailed ot t6ereafter from time to time by the Mortgagee.
11. No ~raiver of sny covenant hemin or of the obligation secured hereby ahall st any time thereafter be held
to be a waiver of the terma hereof or of the note eecured hereby.
12. The lien oi t6ie instrument shsll remain in (ull force and e}~ect during any postpoaement or extension ot
the'time of payment of the indebtedneee or any part thereot eecured 6er~by.
~:3. If the Mortgagor default in any of the covenanta or aRreementa contained herein, or in esid note, then the
Mortgagee may pedorm the aeme, and all expenditures (including reasonable attorney's fees~ made by the Mort~aRee
in ao doing shall draw interest at the rate pro~ iJed for in the principnl inclpbte~iness, and shall be r~pa~•able
t6irty (30) days atter demand, and, together with interes~ and costs accrued thereon, sl~sll be secured by
this mortgage.
14. U~on the request ot thc Morlga~ee the ~iortga~or shall eaecute and deliver a supplemental note or
not~ tor the sum or sums advanccd by the ~t~rtgagee (or the alteration, modernization, improvcment, mein-
tensnce, or repair ot-said ptemises, for taxes or asse~ments a~ainst the same and (or ~n~• other purpose author-
ized hereunder. Said note or notes shall be secured hereby on s parity with and as tully as it the advance
evidenced thereby were included in the note first describecl above. Said s~~pplemental note or notes si~all bear
interest st the rate provided for .in che principal indebtedness and shall be payable in approximatcly equal
monthly payments tor such period as may be a~reed upon by the creditor and dcblor. . Failin~ to agrec on the
maturity, the whole of the sum or sums so edvanced shall bc du~ and payable thir~~~ (30) days after dcmand
by the creditor. In no event shall the msturit,y extend beyond ~he ult,imate c~aturity ot t6e note first
described above.
',~ •348 F~~ 1515
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