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Z. To pay all and sin~ular tre taxes. assessment9~ levies; lia~::itiea~
obliga:ions. and encumbrances of every nature on said described property~ each '
and every~ and if the same be not promptly paid the said Mortgagee may at any
Z1IY1@ pay tl~e SalY1Q Wlt}1n?lt W$1~'11~o Q1' ?ff?~tin~ ~1;~ ~i,~;v:• i~ i~ici.ii~SC ur any
right hereunder~ and every nayment so made shall bear interest from the ~ate
thereof at the rate of ten ,r.rr cent per annum. '
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3. To pay all and singular ine costs, charges and expenses, including :
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lawyers' fees, reasonably incurred or paid at any time by said Mortgagee because
of the failure on the part of the sai~' Martgagor Lo perform, comply with and abide
by each and every the stipulations. agreements~ conditions and covenants .,t said
promissory r.ote and this deed, or ei:her, ;xnd every such payment shall bear
interest from date at the rxte ~f t~., ~PT con~ Y~; ~r,~;~,
4. To keep the buildin~s t~o~v or nereafter on said land insured in a sum
equal to the highest insurable ~:alue, both fire and extended coverage, in a company
or companies to be approve3 by said Mortgagee, and the policy or policies held by
and payable to .said Mo: tga~ee, ar:C i:~ the event any sum of money become payable
under s~ch policy or pol:cies, the Mortbagee shall have the option to receive and
apply the same ~on account of the indebtedness hereby secured or to permit the ;
Mortgagor to receive and use it or an~ part thereof for other purposes, without
hereby waiving or impairing a:iy equity, 2ien or right under or by virtue of this
mortgage, and may place and pay fo- su~h insurance or any part thereof without
waiving or affecting the option to f~•-~:close or ,any right hereunder~ and each and
every such payment shall bear interest :rom date at the rate of ten per cent per
annum.
5. It will permit. commit, or suffer no waste, impairrne:~:, or deterio-
zation of said property or any part thereof, except reasonable wear •and tear; and
in the event of the failure of the Mnrtaaonr U~o.. ~~-~4,= -
v a r - ~a~u ~remises
and those to be erected on said premises, or improvements thereon, in good repair, '
the Mortgagee may make such re~airs as in its discretion it may deem necessary
for the proper preservation thereof ~r:~ the full amaunt of each and every such pay-
ment shall be due and payable thirty (30) days after demand~ and shall be secured
by the lien of this mortgage.
b. To perform, comply with and abide by each and every the stipulatians,
agreements, conditions and coveaants in said promissury note.
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7. The Mortgagee may, at any time pending a suit upon this. mortgage, ' ;
~ apply to the court having jurisdiction the reof for the appointment of a receiver~ and
` such court shall forthwith appoint a recei~-er of the premises cover~d hereby all and ~
; singular, including all and singular the income, profits, issues, and revenues from
~ whatever saurce derived, each and every of which, it being expressly understood~
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~ is hereby mortgaged, as if specifically set forth and described in the granting and
~ habendum clauses_ hereof. Such appoir.tment, shall be made by such court as an
~ admitted equity and a matter of absolute rigY,t to said Mortgagee, and without refer-
6 ence to the adequacy or inadequacy of the value of the prope rty mortgaged or to the
~ solvency or insolvency of said Mortgagor or the defendants. Such rents, profite~
~ inc~:::~, :~~u~s, a;~u rever_ues shai! be apglied by such receiver according to the
~ lien of this mortgage and the practice of such court. ~
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~ 8. If any of said sums of money herein referred to be not promptly and
fully paid within 30 day~ next after the same severally become due and payable, or
if each and every the stipulatior.s, agreerzients~ conditions and covenants of said
promissory note and this deed, or either, are not fully perf~rmed, complied with
and abided by, the said agg,regate sum mentioned in said promissory note shall
F become due and payable forthwith or thereafter at the option of the Mortgagee as
' fully and completely as if the fuil principal amount here secured were originally
, stipulatezi to be paid on such day, anything in said promissory note or herein to the
conirary notwithstanding.
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