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tender to the Ttrlort~~;ee in sccordan~~e wilh th~ provi~ions af tli~ uot~ secure~l l~~rcb~•, full pa~•me~it of tl~e
entire indeblednes~ representecl thereL~~, tf~c~ ;~lort~;agez, as trustce, sl~all, in co~i~pvtin~; Ih~~ aiiiout?1 of suci~ ~
indabteduesa, credit ta ti~c~ account of t~ie ltort ~aKur an~~ credit bal~ tue re~iisiiiin~; uudcr tli~ pru~•is~ons ot (a)
of said pare,Rr~ph 2. l~ tlierc~ sliall be e detau~t u~tid~ir a~?~- th~~ provisions ot tliis ~nortKa~e rE~sulting in a ,
public aale of lhe prrmises covered l~ereb~•, or if the hlortgagee ~cquires the pro}:ert~t otl?erwtse ufter ~iela~~lt, ~
~ the Mort~agea, as trustee, sl~all aQply, at the tiu~e of the conunenccment af Ruch ~roceedings or pt Uic~ tim~ t
the property =a otherwise acquirecl~ the amount tl~~n remainin~ to c.aiiit-ot Mortgagor uacler (a) of paragrapl~ 2 ~
preceding sa a credil an tlic~ interesC acerued and unpaid anci tl?e l~alanco to the prine~pal then ren~aining unpa~d
on s~id y~ote.
4. He wiU pa?y all taycee, aee~aznente~ water ratee, and other governmental or municipal aharge~, &n~ or
impositi~ns, for which proviaion haa not been made hereinbetore, and in detault thereof the Mortgsgee may pay the
eame; twd t,hi?t he will promptly deliver the o~cial reoeipta therefor to the riortgagee.
- S. He will peranlt, oomniit, or suPfer no waat~, impairnient, or deterioration ot asid groperty or any part ther~~f }
e~ccept reasonable wear and tear; and in the event of the failure of the Mortgagor to keep the buildinge on eai~ {
premisea and thoee to ~be erected o~ said premi»ee~ or improvements thereon; in good re~air the Mortgage$ raay .
~aalce such repaira aa in ita diecretion it may deem neceasary for the proper prescrvation tbereo~, and the full amount ~
of eac~ ai~d every auch paywenL shall be due and psyable thirty (30) daye after demand, end ahall be eecured by ~
the lien of thia mortgage. . ~ i
i 6. He will ~pay all and aingulu t~he cveta, charges~ and expenee8, including reasonable lawver'a feee, And ~osta
of sbetrncW of titte, incuYred or psid at any time by the ?~iortgaqee because of the [ailure on the par~ of the Mortgagar ~
pmmptly and tully to perlorcn the agreements and covenants af said promieaory note and thia mortgage, a~d se?id -
coets, charges, a.nd expenses shall be immediately due and payable ana shall be eecured by the lien of this ~ortgaga.
He will oontinuous~y.m~iztain hazard inaurance, oi such type or typee snd amounta as Mortg~gee msy
from time to Eime requirdf bh the iao?~rm_~ Te~ment8 now oz ht~reafter on said premises and e.tcept when payment ~
_ for all such premiums hes theretofore be~n m~de~ under (s) of paragraph 2 hereot, ~e will pas pi~omptly when _
due any premiums therafor. All inaurance ahall be carried in companies approved bs I~fortgagee and the poli-
- cies and renewals there~f shall be held by 11,sortgages and have att,~ched thereto loss payable clausee in favor oi
" and in form accQptabl~ to the Mortgagee. In event of loss he will give immediete notice by tnail to Mortge.gee, _
and ;~iortg~gee m~y make proof of loss if not made promptly by Mortaagor, and each insurance company
concer~ed is bereby authorized and directed to ma;~e payment f~r such loss directly to Mortgage~e instead of
to A~ortgagor and 11'iortgagee ointly, and the inxura~c~ prc~eeds, or any part thereof~ may be applied by Mor~
- gagee at its op~ion eilher to t~e rzduction of the indebtedneas hereby secured or to tb.e restoratton or repair of .
- t6e ~ropert,y dama~ed. In event of foreclasure of tiiis mortgag~or othar tran3fer oi t~tle to the mortgaged ~
property in excingutshm~nfi, oi the indebtedness secured hPreby, right, title, and int.erest of the ~ori,gagor
m and to any insurance policies then in force shall p~sa to the purchaser or grsntee.
8. If the pre~»ist~s, or an~- pu~~t thereol', ue con~ienmeci uniler th~ p~wer of en~inent. do~~iam, or i~cquircd for
_ a public use, tlie c1at~~aKes n~~nrded, !Le proc•eeds for the tnkiu o[, or th~ consicleration for sucl~ acquu~t:on, to
thc rxtent of the tull an~ount of tlic ren~aiuing unpf?i~i indc~~te~lnc,ss securt•d h~• tt?is mortgake, are IiereUl'
assi~n~~ri to tlu• ~fortKaKee, »n~l lii~s heit~ or ussi~ns, ui?cl ~liall b~ p:ii~l fortl?~~•iti~ to saici ~lort~;a~c~e or 1~is
assignee to br. applir~l. on acc•c,ui~t c,f the last ~i~uturiur ii~stHll~u~~nis of sucL ind~btednc~s; pro~~icle~i, lio~?•~~•er,
tlie ~iort~u~c~ ~~r i~is :issignAc, <na~• ul l~is disc•rt•tiou pa~• dir~~~•t to tlie ~lortgu~;or, l~is 1«ir.; c~r n~.si~;i~s an~• pnrt
or all ~!:•uch a~~•urd; }iroviiled, tliat if the loau is Kunra:rt~~~sl or i~~surn~l, the consent of tl~~ guurant~r or insuscr
is obta'incd in aclva~~ce of said pa~•u~ent. _ . .
The hiortgagee may, at any time pending a suit upon thia morY.gager apply to t6~ wurt hcving jurisdiction
taereaf fcr ~he appointmenC of a receiver, and such court ahaA forthwith agpoint $ receiver of the premises covared ~
hereby all add singular, including all snd eingular the ~ncome~ pmfits, isaues, and irevenues from what~ver Source
derived, each and e~ery of which, it being expressly underatood, ia hereby mortgaged as if specifically eet forth and
described in the granting snd habendum clauses hereof. Sueh ~ppointment shall be made by such c~o•~rL as an admitted
- ~ equity and a matter of absolute right to said Mortgagee, and without referenc~ to the adequaay or inadequacy of
the value of the property mortgaged or to zhe solvency or insolvency of said 14iortgagor or the defe~dants. Such
rents~ pmfits, iucome, issue~, and revenues 8hall '~e applied by such receiver according tQ the lisn af this mortgage
and tt;a practice of su~h court. In th~ event of any default on the part of th~ Aiortgagor hereunder; the biortgagor .
agreea to pay to the i~'Iortgagee on demand s4 a reasonable monthly rental for the premises an amount at lesat
eq+~ivalent to one-twelfth (y~2) of the aggregate of the twelve monthly installments payable ia the then current -
year plus the actual amount of the annusl taxes, assessm~nts, water rates, and insurance premiums for such year
not covered by the aforesaid monthly paymenta !
10. In the event of any h*each of this mortga.ge or default on the gart of the 141ortgagor; or in the evrnt th~t 3
ar,y of said sums oi meney 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, conditians, and covenants af said note and this mortghge, '
~ not duly, promptly, .and fully performed; then in either or any such eventt the said aggtegate ~um mentioned
~ in s~id nc,te then remaining unpaid, with interest accrued to that time, and all money~ secured hereby, shall bec;ome ~
due and payable forthwith, or thereafter, ~t the option of said Mortgagee; as fully and completely ~ i~ all of the
sa;d eums of money were ~rigi.nally stipulated to be paid o~ such day, anything iu said note or in thi3 mortgage to ~
the contrary notwithstanding; and L'nereupan or thereafter, at the option of said Martgagee, without notice ~r ~
demand, suit aL 1aw or in e~uity, may be prosecuted as if all moneys s~cured hereby had matured prior to its institu-
~ tion. The 1liortgagee may fcrectose this mortgage, as to t~e amouint so declared due and payable, and the said _ ~
premise3 shall be sold tc astisfx and pay the same together with costs, expenses, and allowances. In csse of partial ~
foreclosure of this mortgage, the inortgaged premises shall be sold subject to the continuing lien of this mortgage
for the amonnt of the debt not then riue and unpaid. In such c~.se the provisions of thia paragraph may again be
~ availed of ther~after from time to time by the biortgagee. - - _ _ ~
11. No ~v~iver of any ctivenant herein or of the obligat+oa setured hereby shall at any tetne ther~aft,~r t~e held ~
to be a wsiver of the ternos hereoi or of the nate aecured herehy. _
12_ The lien of this inst*~~nent aha.ll remain in full force and ePfect during any pc~stponement or ext,ension of
the t.i~ee oi psyment of the inde6tednesa or any parL thereof secured hereby. _
l:i. If ths Mortgagar default in sny of the c~yenants or agreements contained herein, or in €aid note, Lhen tha
Mottgagee may perfotm the same~ and all expenditures (including rea.Qonable attorney'a fees) made by the 1~'Iortga~ee
- in ao doing shall drax inierest at the rate pro~ ided (or in the principal indebtedneag, and sha11 be repayable
- t~ir~y (30) days aiter demand, and, together with interest and costs accrued thzreon, shall be se~u;ed by ~
_ this mortgage. ~
14. Upon the request of t,he ;~iort~a~ee the biortge.gor shall execute and deliver a supptement,al note or
notes for Lhe sum or sums edvan::eci by t e~iortgagee for the alteration, modernization, improvement, main- -
tenance, or repair of said pren~ises~ for taxes or as..~essments ~ainst the same and for aa~• other purpose author-
ized hereunder. Said note or notes shall be secured hereby on a parity wit~ ~nd as fully ~ if the advance
evidenced thereby were included in the note first de~^ribed above. Said supplemental note or notes shall bear
interest at the rnte pro~ided for in t.he principal indebtedness and shall be payable in a~proximately equsl
mgnthi} psyments for such period as may h~e agreed upon by the ~reditor and debtor. Fail~ng to e.gree on the
. msturity, the whole of the sum ar sums so advanced shall be due and pa}able thirty (30) days after.demand 3
by the creditos. In uo event shall tiie maturil,y aatend beyond thp ultimste ~~sturity oi Lhe note first
described above. -
~ ~ = BOOK ~~O Pt~GE
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