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tendor ~to lhe 'Moctgagee iu accordancc~ witl? lhe provisions ot tlie not~ ~ecured I~ereb~•, full pa~~~iirn~ of tha .
entire indebteditiese repr~ser?ted therobv, the rioctgagee, a.g trustee, si~all, in computing llie pi?iaun~. of aucli
indebieclneas, credit to tlie accourzl of t~io Mort gagor nny credit Lals~ice remaining under il~c provisioi?s of (a)
o[ said para~;raph 2. 1( therci shall tw a eRefault under any c~f tha provisions of this u~ortga~i~ cQSUltin~ ir. a
public asle ot tho promises covered 1?ereby~ or if tlte ;~ic+rt-~agec~ acquuea the property otherw~sr aher default~,
the Mortgagee~ as trustee, s~~all uppiy, at the time ~f the co»~niencem~nt of sucl~ pro~~eedings ar at thc~ limo ~
lhe propert~~ is otlierwise acyuirecl~ U~e smowit tlien rrn?eining to rreclit ot Mortgagor under (t+) af paragrapl? 2 !
preceding ae a credit on tho interesC accruecl anc! unpaid and it~Q balanca to thc+ principal tlien remai~i~n~ unpaiei ~
on said notP. - ~ ~
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4, He will pay elt ta~cee~ aeeeasTnenta, ~vater rstee, xnd other vernmental or municIpal chargea; fin~ee, or (
~v
impoettlona, for which provzsion hae not been m~da hereinboforo, and default thereof the Mortgagee may pay t~e ~
e~ame; and th~?t he ~Ill promptly deliver the oificistl reoeiptr theretor to the Mortgagee.
b. He will permit, oommit, or suger no wa8te, impairment or det.erloratton of sald property or any part thereof
except rea$ona~le wear and tear; and in the avent of ths fai~ure of the Mortgagor to keep the bu±ldings on eaic~
premieee and 4hoee to be erected on sa~d premisea, or improvemente thereon, in good repair the Mortgagee may
make such repaim aa in its discretioa it may deem neceseary for the proper prescrvation thereo~, and the full amount
~ ot each and every such payment ehall be due and payable t~irty (30) dsye sites demand, a?ud ahaU be eecured by
the Uen of thie mortgage. -
6. He wiU pAy aU and edngular tbe caeta, cb~rge~, aad eapenaea, includi~g ~reasonable tawyor'e f~ee, sad coeta
of abatracta oi tltle, incurr~d or paid at any t,ime by the Mortgagee bect?use of the failure on the part of the Mor~gagor
promptly and fully to gerform the agreements and covenanta of sa:id promiesory note snd this.mortgaga, and sRid
. tx~ete, charges, ~nd expenses shall re icnmediately due and payable and shsil be eeeured by the lien of this mortgsae.
He will ooatS.nuously ;naintai.n hozard insurence, of such ~ype or typee and smounte as Mortgage~ may .
from tima to time require, on t~e ungrovements now or herealter on said premises and e.~cept when pasment
tor all sueh premiuma hsa thr.'~re~ofdre been made under (a of paragraph 2 hereof ~e =ii ~ay pPOmptly when
re
dne any prem?ums therefor. All insurance shall be carri in companies sppmvec~ by }.t~*te;agee and the poli-
eies and renev~$lst~a rept shall be held by 114ortga,gee attd have attsched thereto l~ss payable ctausee in favor of
and in form acceptable to ttce Mortgagee~ In eveni af loss he will give unmediate notic~ by mail to Mortgagee,
and Moxtgagee may meke .pr~of o~ loss if not made promptly by Martgagor, ~nd each insurance oomgany
concarne~ is-hereby~auth~nzed and directed to make paqment for such losa directly to Mortgage~e instoad of
to ~4ortgagor and Mortgagea jointly, ar.d the insurance proceoda, or any part thereof may be applie~i by Mort-
gagea at its option either to t4e reduction oi the indebt~nesa hereby eecured or to L~he restorataon or repair of -
- tbe property d~ma~ed. In event of fureclosure of this mortgsge or bther transfer of title to the mortgaged
~roperty in extinguisbment of theindebtedness aecured hereby, a~l ~ight, title, and interest of the Mortgagor
in and to an~ iasuiance policiea then in force shall pasa to the purchaser or grantee. ~
3. I( t)~e pren~isi~s, or un~• part thereof, be co~ulemned under Uie power of eminnnt~ don~au~, or ncc;uirect for
a public use, th~ dn~uagrs a~~•acded, the• proi•ecds for tl~e takin * ~f, or the ~onsid~rntion (or such ttcqutsifion, to
- tlie estent of tl~e full A1110UI1t of thc rei~iAinin~; urpnid i~id~~tcriness sec•~~rnd ~ln• this »i~rtgnke, t~re-hercb~' ;
_ nssi~?ned to t)?e ~to; tg~gc~ . un~! }us !«•ir~ c?r assi~;ns, itil~= slui!! tsc pu'sd (orthH ith to saicl ~IartKAge: or 1~i5 . `
assignee to Le applie~l on arc•ou~~; of the last inii;ur~n~ installuu~i~ts of such iadebtedness; pro~•ided, l~o~cever,
thc \iortga~ee or his a.ssiKnce, n~a~' at his ctisc~r~~tion pa~• dirrct to th~ 1lortgt~~or, )iis h~irs or ussigns an~• pt;rt.
os a11 of sucL award; provicled, tliat if the loan is kuarn~teed or insurecl, tl~c~ conseut of tlie gunrantor or i~isurer
is obtained in advance o: said pa~•ment.
- ~J. The Mortgegee may, at any time pending a suit upon this mortgage, apply tc~ the court heving jurisdiction
thereof for the appointment of a receiver, and such court ahsll forthwith appoint e receiver o# the premises covered
hereby all a~~ singulat, inc?uding all and singular the incame, proSts, i~ues~ and revenues from wl~tever source
- derived, each and every of which, it being expressly underatood, ia hereby mortgaged as if specifically set forth and " -
. deecrib~d in the granting and habendum clauees hemof. 8uch appointment shall be made by such court as an admitted .
- equity and s matter of absolute right to said Mortgagee, and without reference ta the adequa~y or inadequacy of
tt~e value of the property mortgsged or to the solvency or insolvency of said Mortgagor or t'~e defendants. Such ~
~ ~ ~ents, profits, income, isaues, and revenues shall t5e applied by such receiver according to the lien of this mortgage
- and the practice of such court. In the event of any default on the part of t6e Mortgagor hereunder, the Mortgagor
. ~,gr~es ia pay to the 1Vlortgagee on demand sa a reasonable monthly rentsl for the premises an amount at least
equivalent to one-twelfth (~2) of the aggregate of -the twelve monthly inst,~?llmenta payable in the then current
year plus the actual amount of the annual taxes, ~e~~enta, waLer ratea, and insurant~ premiums for such year .
~ not covered by the aforesaid maathly ~yments: ~
= . 10. In the event of any ta*each of this mortgage or default on the part of the Mortgsgorf or in the event ths~ -
. any of said sums of money herein referred to be not promptly and fully paid according to the Lenor hereof, or in the
event that each and every the atipulations, agreements, conditions, and covenants of said note and this mortgage, ~
a?re not duly, promptly, and fully perforuzed; then in either or any such event, the said aggregate~ $um mentione~
- in esid note then remaining unpaid, with inttrest accrued to t{iat time, and aU mon~ya secured herQby, shall becorn~e -
due and payable fort.hwith, or thezeafter, at the option of_said Mortgagee, as fully and completely ris if all of the
sait~ aums of mor~ey were origLnally stipulated to be paid on such day, anything in said note or in this mortgage to _
the contrary notwithstanding; and t6ereupon or t.hereafter, At the option of said Mortgagee, without notice or
~ demand, suit at law or in equity, may b~'prosecuted as if all~moneys secured hereby had matured prior to its institu- -
tion. The biortgag~e may forectose this mortgage, as to the amount so declared due and payable, and the said
premiaes shal~ be sold to sr,tiafy and pay the snme together ~ith coats, e~penses, a~d sllowances. In ease of partaal - ;
s foreclaure af thia martgage, the mortgaged premises shall be sold subject to the continuing lien of this mortgage -
` for Lhe amount of the debt not then due and unpaid. In such ca~e the provisions of thia paragraph msy again be =
availed of thereafter from time to time by the Asortgagee. - ~
1 I. No. ~raiver ~f a.ny cavenant Lerein or of the obliggtion secured herehy ahall at any time thereafter be held -
; to be a v~aiver of the terms hereof or of the note aecured hereby. ~ . ~
= 12. The lien of tnia inbcrunZent shall remain in full farce and sHect during any postponement or ext~ension of
~ the time of payment of the indebt~ednes~ or any part ther~of securea hereby. - .
= 13. If the Mortgagor default in any of the covenants or agreements contaiued herein, or in said noie, inen i~o
= biortgagee ui~,y perform the same, ~?nd a~l Expenditures (including reasonable attorney's fees) made by the Mortga~ee ~
in so doing shsll drew interest at the rate pro~ided for in the principat indebtedness, and shall be repayable ;4
t~irtj~ (30} days atter demand, and, Wgether with interest and costs accrued thzreon, shall be secured by
this mottgage. . . . -
14. IJpon the request of tbe Mort.~agee the 1liortgagor shall exe~ute and deliver a supplemQntal note or -
F~ notes for the sum or sums advanced by the ~tort.gagee for the.alteration, modernization, improvement, mein- ,
E, _ tensnce, or repair of said premises, for taxes or assessments eg$~nst the same and for any other pur~se author- -
~ ized hereunder. Said note or notes shall ba secured hereby on a parity with and as fully as it the advance
evidenced thereby were includ~d in 6he note first described above. Said sup~lemental not~ or notes shall bear
interest at the rnte provided for in t-he principal indebtedness and s~all be payable in ap pro~imateiy equal
monthly psyme~ts f~r such period as may be ~reed upon by thP creditor and debtur. Failing to agree on the
- msturity, the whole of the sum or sums so advanced shsll bc due and payabie thiri~y (30) days after demar.d
by Lhe creditor. In no event shall Lhe maturity extend beyonc~ the ultimate raaturity of ihe note first
~ described abore. - _
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