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may do so at its option and may thereupon add the cost thereof
to the principal debt secured hereby.
- In the event of default in the payment of ~ny monthly -
" payment, or upon default in the performance by the Mortgagor of
any of the other obligations of the Note, or of this Mortgage,
or if the premises described herein are sold or transferred
without the prior written consent of the Mortgagee, or upon any
assignment for the benefit of creditors or upon insolvency of
~ the Mortgagor, or upon the coc~nencement of any_ bankruptcy,
insolvency or reorganization proceedings, either under the
Bankruptcy Act or any amendment the~eto, or otherwise, by or
against the Mortgagor, the entire unpaid principal sum,
interest, and all other amounts~paid on behalf of the Mortgaqar
or otherwise payable by Mortgaqor pursuant to the terms of the
Note, or this Mortgage, shall, at the option of the Mortqagee
~ and without notice, accelerate and becom~ immediately due and ~
payable. Thereupon, foreclosur~ proceedings may be brouqht
forthwith on this Mortgage and prosecuted to judgment, execution~
and sale for the collection of the amount due, together with the
costs of suit and an attorney's commission for collection of ten
! percent (10$) of the total indebtedness, or Three Hundred Fifty
; ($350.00) Dollars, whichever is the larger amount. Mortgagor
~ , forever waives~and releases all errors in said proceedings,
waives stay of execution and extension of time of payment, and
. waives all exemptions from levy and sale of any property that
naw.is or hereafter may be exempted by law. The remedies herein
provided shall be in addition to and not in substitutien of the
rights and remedies which would otherwise be vested in Mor~gaqee
in law or equity or under the Note, all of which rights and
remedies are speci£ically reserved. by Martqagee. The failure by
Mortqagee to exercise the remedies herein provided shall not
preclude the resort to ar.y other remedy or remedies, nor shall
~ the exercise of the remedies herein provided prevent the
subsequent or concurrent resort to any other remedy or remedies
which by law or equity shall be vested in Mortgagee for the
recov~ry of damages or otherwise in the event of a breach of any
of the undertakings of Mortgaqor hereunder. No d~lay or
omission by i~ortgagee in exercisinq any right or remedy accruing
upon the happening of an event of default shall impair any such
~ right or remQdy or shall be construed as a waiver of any such ~
default; and every right and remedy hereby conferred upon
Mortgaqee may be exercised from time to time and as often as
shall be deemed expedient by Mortqagee. No waiver of any event
of def ault shal l extend to or af fect any other event of def ault .
This~Mortgage inures to the benefit of the Mortgagee, its
succ~ssors and a~signs, and is binding upon the Mortqagor, his
heirs, executors, admini$trators, successors or aesigns. The
singular number shall include the plural, the plural the
singular, and the use of any gender ehall be applicable to all
genders..
-3- BOOK PAGE 936
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