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5. That he wi!{ permit, commit, or suffer no waste, impairment, without reference to the a~!e~~!a~y ot :^»~±~q~.:a:~ af thr ~a:;;c ~f
or deterioration of said property or any part thereof; and in the the propertx mortgaged or to the solvency or insolvency oi said
e~ent of the failure of the Mortgagor to keep the buiidings on Mortgagor or the defendants, and that such rents, protits, in-
said premises and those to be erected on said premises, or im- come, issua. and revenues shall be applied by such recei~~er accor-
pro~•ements thereon, in good repair, the Mortgagee may make ding to the lien of this mortgage and the practice of such court.
such repairs as in its discretion it may deem necessary for the In the event of any defau{t on the part of the Mortgagor
proper preservation thereof, and the full amount of each and hereunder, the Mortgagor agrees to pay to the Mortgagc~ on de-
e~ ery such payment shall be immediately due and payable, and mand as a reasonable monthly rental for the premises an amount
:hall be secured by the lien of this Mortgage. at least equivalent to one-twelfth (1/12) of the aggregate of the
twelve monthly installmtnts payable in the then current_ year plus
6. That he will pay alt and singular the costs, charges, and ex- the ac:ual amount of thr annual taxes, assessments, water rates,
penses, including reasonable lawyer's fees, and costs of abstracts and insurance premiums for such year not covered by the
~f title. incurred or paid at any time by the Mortgagee because of aforesaid monthly payments.
the failure on the part of the 1~lortgagor promptly and fulty to
perform the agreements and covenants of said gromissory note 10. That (a) in the event of any breach of this mortgage or
and thi~ mortgage, and said costs, charges, and expenses shatl be default on the part of the Mortgagor, or (b) in the event that any
inzmediately due and payable and shall be secured by the Gen oi of said sums of money herein reFerred to be not promptly and
this mortgage. fully paid without demand or notice, or (c) in the event that each '
and every of the stipulations, agreements, conditions, and
7. That he will kerp the improvements now existing or hereaft~r covenants of said note and this mortgage, are not duly, promptly, j
erected on the mortgaged property insured as may be required and fu{ly performed; then in either or any such event, the said ag- {
! from time to time b}~ the Mortgagee against loss by fire and other gregate sum mentioned in said note then remaining unpaid, with '
hazards, casualties, and contingencies in such amounts and for interest acerued to that time, and all moneys secured hereby, shall ~
' ,uch periods as may be required by Martgagee, and witl pay become due and payable forthwith, or thereafter, at the option of i
; prompdy, w~hen due, any premiums on such insurance for pay- said Mortgagee, as fulty and completely as if all of the said sums
~ ment of which provision has not been made hereinbefore. All in- of money were originally stipulated to be paid on such day,
~urance shati be carried in companies approved by Mortgagee and anything in said note or in this mortgage to the contrary not-
! the policies and renewals thereof sfiall be held by Mortgagee and withstanding; and thereupon or thereafter, at the option of said
~ have attached thereto loss payable clauses in favor of and in form Mo~tgagee, without notice or demand, suit at law or in eq~ity,
' acceptable to the Moctgagee. In event of loss he will give im- may be prosecuted as i~' all moneys secured hereby had matured
~ mediate notice by mail to Mortgagee, and Mortgagee may make prior to its institution. The Mortgagee may foreclose this mort-
f
~ proof of toss if not made promptly by AAortgagor, and each in- gage, as to the amount so declared due and payable, and the said
j tiurance company concerned is hereby authorized and directed to premises shall be sold to satisfy and pay the same together with
! make payment for such loss directly to the Mortgagee instead of costs, expenses, and allowances. In case of partial foreclosure of
to the Mortgagor and the Mortgagee jointly, and the insurance this mortgage, the mongaged premises shall be sold subject to the
proceeds, or any pan thereof, may be applied by the Mortgagee continuing lien oi' this mortgage for the amount of the debt not
at its option, either to the reduction of the indebtedness hereby then due and unpaid. [n such case the provisions of this
'i secured ot to the restoration or rcpair of the property damaged. paragraph may again be availed of thereafter from time to time
~ in event of forectosure of this mortgage and other transfer of title by the Mortgagee.
E co the mortgaged propeny in extinguishment of the indebtedness
i secured hereby, all right, title, and interest of the hiortgagor in 11. That he will give immediate notice by ma"sl to the Mortgagee
and to any insurance policies then in force shall pass to the pur- of any conve~ance, transfer, or change of ownership of the
i : hacPr nr g~anr~, premises.
8. 7'hat if the premises, or any part thereof, be condemned 12. That no waiver of any covenant herein or of the obfigation
~ under any power of eminent domain, or acquired for a public use, secured hereby shall at any time thereafter be held to be a waiver
; che damages, proceeds, and in consideration for such acquisition, of the terms hereof or of the note secured hereby.
to the extent of the full amount of indebtedness upon this Mort-
~ gage, and the Note stcured hereby remaining unpaid, are hereby 13. That if the Mortgagor default in any of the covenants or
assigned by the Mortgagor to the Mortgagee and shalt be paid agreements contained herein, or in said note, then the Mortgagee
, iorthwith to the Mortgagee to be applied by it on account of the may perform the same, and all expenditures (including reasonable
indebtedness secured hereby, whether due or not. attorne~'s fees) made by the Mortgagee in so doing shali draw in-
terest at the rate set forth in the note secured hereby, and shall be
9. 7hat the 1~lortgagee rrzay, at any time pending a suit upon repayable immediately and without demand by the Mortgagor to
r his mortgage, apply to the court having jurisdiction thereof for the M~rtgagee, and, together with interest and costs accruing
che appointment of a receiver, and such court shall forthwith ap- thereon, shali be secured by this mortgage.
point a receiver of the premises covered hereby all and singular,
including aii and singular the income, profits, issues, and revenues 14. That the mailing of a written notice or demand addressed to
t rom whatever source derived, each and every of which, it being the owner of record of the mortgaged prernises, or directed to the
e~pressly understood, is hereby mo:tgaged as if speciCcally set said owner at the last address actually furnished to the Mortgaaee;
i„r;h u.'.....'t,,,a . .
~n t~~~ g~aiiiui~ anu nanenaum ciauses nereot, or directed to said owner at said mortgaged premises, and mailed
and such receiver shali have afl the broad and tffective functions by the United States mails, shalt bt sufficient notice and demand
and powers in anywise entrusted by a court to a receiver, and in any case arising under this instrument and required by the pro-
~uch appointment shall be made by such court as an adrrtitted visions hereof or by law.
equity and a matter of absolute right to said Mortgagee, and
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