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len~lor lo tt?o Tlortgt?~~ee in acror~lan~•c~ w•itli the provisions of the not~ secure~l her~~b~~, (ull pn~•nie~~l, of ti~o
entire indebtedness represNnted therc~~V, thc? ~iortgsgee~ ~ truste~, shKll, in coni~~utin~; ~li~~ nniuunt of suci~
indebte~ness, cre~tit to tlic accaunt of t~~e Mort ~a~;or any cru~lit l,a[elnce rnint~inin~; ~uuler tlu~ pru~~isions o[ (u)
, o! asid -pars~;raph 2. 1f there shsll b~ t~ defau~l under un~• of tiie provi.gions of ihis moriKei~;c r~+sullin~; in u
public ssle of the p~emise~ co~~ercd hereb~•, or if thc~ i~lortgRge~ t~ryuires llie property othe~r~~~~s~• aftcr ~Icfuult,
the I1lottgagee, as trustee, shell appl~, at the time of th~ canmencc~inent of sueli proceedin~ or at the tim~
: tho propcrt~~ i~ otl~erwisc ticquired, the auiount tl~eu re~~iai~?in~ to c•re~lit of 11artKa~;or under (a) ~i ~?nril~;rnpl~ 2
precedin~; as a credit on tl~c i~~teresC a~~crue~l and unpsici ~?nd tl?e bi?lanre to tlu+ princiE~al then reniainine unp~id
o~i saicl notc•.
4. He witl pay all taxee, assesgmente, wster ratee~ and nther governmental or municipal charge~, fines~ or
impoaitiona, for whic~? pro~~sion has not been macIe het~inbefote, and in default thereof the Mortgagee may pay the
eame; and tt,at he wiA promptly deliver the official receipt~+ therefor to the Mort.~agee. ~
~ 5. He will peraait, commit, or suffer no waste, itnpairment, or d~terioration of said property or any gart thereof,
except reasonablt~ wear and tear; and ia the event of the faiiure of the hiortgagor to keep ths building~ on said
premises and thoae to be erected on said premisee, or improvementa thereon, in good repair, the Mortgagee may
- make such repaira as in its discretion it ~ay deem necesea.ry for the pmper prescrvation thereof, and thE tull amount
of each and every auch payment shall be~lu~ and payable thirty (30) deys after demand, and ahall be eecured by
. the lien of this mortgage. ~
6. He will pay all and eingular the costs, charges, and expenaea, including reasonable lawyer's feee, and coste
- of abstracts of title, incurred or paid at any time by the ?~Sortgaget3 because of the failure on the part of the Mortgagor
' ' promptlv and fully to perform the agreements and covenants of aaid pmmiasory note and thia mortgage, and said
; coats, charges, and expensea ahall be immediately due and payable and ahaU be eecured .by the lien of this mortgs.ge.
- 7. He will continuously maintain haaard insurance, of euch type or types and amounts as Mortgagee may
from tinie to time requue, on the~ipn~roven~er~ now or hereaiter on said premises, and eacept when payment
; tor sll such premiums has theretofora been made uiider (a) of paragraph 2 hereof, he will pay promptly when
~ due any premwms'iherefor. All insurance shall be carried in companies approved by ~1lortgagee and the poli-
cies and renew als thereof shall be held by Moitgagee and bave attached thereto loss payable clauses in favor of
and in form acceptablQ to the ~'Iort.gagee. . In event of loss he will give immediate notice by mail to Mortgagee,
- and tiiortgagee may meke proof of Ioss ~f not made promptly by I4lortga.gor, and each insurance company
concerned is hereby authorized sud directed to make payment for such loss directly ta hiortge.~e~e instead oi
to ;1Tortgagor and `iortga.gee 'ointly, nnd the insurance proceeds, or aay part thereof, may be applied by Mort~
gagee at its option either to t~e reduction of the indebtedness heceby secured or to the restoration or repair of
_ the property dama~ed. In event of fore.loeure of this mortgage or_other transfer of title to the mortgaged
property in ertinguishment o( tha indebtedness secured hereby, a~l right, Litle, and interest.of the Mortgagor
in and to any insurance policies then in ioree shall pass tio the purchaser or grantee. -
~ 8, If tl?e pri~niis~~s, oc i~n~~ purt tlu~n~of, bc~ c•on~lc~~nne~l u~uler th~ po~~~~r of en~inent ~loinuw, or iicquirc~l for
public use, tlii• dn~nnkes:~~~•ar~led, tlu~ pro~•c~rds fur tl~e t:iking of, or th~~ consieleration for suc•L nc~yui~ition, to
, tL~• e~tent of tl~c fuli nn~ount of tlu• renu~inin~; unpaiil in~lcbt~vlm~ss s~~rured h~• tliis ~nort~.ir~, ~r~ l?ereb~-
. u~.si~nr~l to th~• \tortkn~;~~~, utul his lu~i~~; c?r ussi~n~, a~al ~t~ull h~~ puicl forth~citli to ~iiid Jtortrii~~~c• or liis
ussikiiec~ to be iipplie~l on nc•c•ount ~~f th~~ lust n~uturiur ii?stt~lliu~~i~ts of surL indebte~clnc~ss; pru~•i~le~cl, lio~~•c~~•c-r,
~ thc \fortgukc~~ or h4s .~.~.si~;nr~~, nui~- ut I~is ~lisrr~~tian E~n~- ~lire~•t to tl~~ ~1a•tgnkor, l~is h~•i~~ or assinus un~• p:irt
or ull of such u~sanl; pro~•i~l~~d, that if the lu.u? is ~;u.u•unt~~~•il or insure~l, the conseut o[ the ~ut~rantur or ii~sw•~~r
is oLtainecl in ncl~•ance of sai~l pn~•uu~nt. _
!1- The i.lortgagee may, at any !.ime pending a suit upon this mortgage, apply to the court having jurisdiction
thereof for the oppointment of a receiver, and suc6 court shall forthwith appoint a zeceiver of the pm~ises covered
heceby all arid singular, including a11 and singular the income, profits, issues, and revenue~s from whatever sourcE
derived~ each and every of which, it being expressly understood, is herebv mortgaged as if specifically set forth and
_ descril~ed in the granting and habendum clausas hereoi. Such appointment shall be made by such court as an admitted
equity and a matter of absolute right to said bsortgagee, and without reference to the adequacy or inadequacy of
the value of the property mortga.ged or to the solvency or insolvency of said Mortgagor or the defendants. Such
rents, ~rofits, income, issues, and revenues shall be applied by such receiver ~ccording to the Uen of this mortgage -
and the practice of such court. In the event of any default on the par~ of the Mortgagor hereunder, the Mortgagor -
agre~s to pay to the ti'tortga.gee on demand as a reasonable monthly rental ~or the premises an amount at least
equivaleut to one-tv~•et[th (~Z) of the aggregate of the twelve monthly installments payable in ihe then current
year plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year ,
_ not covered by the aforesaid monthly payments. ~
' 10. In the event of any b_*each of this mortgage or default on the part of the biortgagor; or in the event that
f~ any of said aums of mone~ herein referred to be not promptly and fully paid according to the tenor hereof, or in the
event that each and every the etipulations, agreements, conditions, and co~enants of ssiid note and this mort.ga.ge,
are not duly~ promptly, and fuliy perform~d; then in either or any such event, the said aggregate sum mentioned
in said noie .hen remaining unpaid, with interest accrued to that time, and all moneys secured hereby, ~hal~ become
due and paysble forthwith, or thereafter, at the option of said biortgagee, as fully and completely as if all of the
said sums of money were originally stipulated to be paid on such day, anything in said note or in this mortgage to
~ the contrary notwithstandirg; and thereupon or thereafter, at the option of said Mortgagee, without noticP or
3emand, suit at law or in equity, moy be prosecut.ed as if all moneys secured hereby had matured prior to its institu=
tion. The ~Iortgagee may foreclose this mort~age, as to the amonnt so declared due and payable, and the said
premises shall be sold to satisfy snd paS~ the ~~me together with costs, expenses, and allowances. In case of partial
foreclosure of this mortgage, the mortgaged premises shall be sold subject to the continuing lien of this mortgage
for the amount of the debt_not then due and unpaid. In such case the provisions of this paragraph may again be
availeci of thereafter from time ta time by the ~iortgegee. . .
11. No waiver of any covenant herein or of the obligation secured hereby shall at any t~me thereafter be held
. to be a waiver of the terms hereof or oi_ the note secured hereby. - -
12. The lien of this inscrument ahall remain iB full force and et~ect during any postponement or extension of
the time of psyment of the indebtedness or any part thereof secured hereby.
13. If the Mortgagor default in any of the covenanLs or agreementa contained herein, or in said note, then the
Mortgagee may perforin the same, and all expenditures (including reasonr~hle attomey's fees) made by the PQortgaAee
in so doing shalt drarv interest at the ret,e pro~~ided (or in the princ~pni indebte~lness, and shall be repay~able
_ thirty (30} days aitEr demand, and, toget5er with interest and costs accrued thereon, sl~all be secured by
this mortgage. - - -
14. Upon the request of the 1~lortgagee the \iortgagor shal~ eaecute and deliver a supplemental note or
notes for the sum or sums advanced by the ~tortgagee for the alteratio~, modernization, improvement, main-
: tenance, or repair of said premises, (or taxes or as.~essments against the same and for an}~ other purpose author-
ized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as if the adr•ance
- evidenced thereby were included in the note first described above. - Said supplemental note or notes shall bear
- interest at the rate pro~ ided for in the princiQal indebtedness and shall be pavable in a~pro~imately equal ~
: monthly pey ments for such period as may be a~reed upon b~~ the crectitor ancl debtor. Failing to agree on the
maturity, the whole oi the sum or sums so advanced shnll bc due and pa~~able thirty (30) da~s after demand
- by the creditor. In no event shall Lhe maturity extend beyond the ultimate ~iaturity ot ine note ficst -
= described sbove. ~
i ~ BOOK~~U PACE2~17
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