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200909687 PROVISIONS SECTIONS (PLEASE RECORD) THE PROVISION (1) THROUGH (14) ARE TO BE RECORDED ALONG WITH PREVIOUS PAGES ENTITLED MORTGAGE DEED The Mortgagor covenants with the Mortgagee as follows: 1. That the Mortgagor will pay the indebtedness as hereinbef ore provided; pay all taxes, assessments, interest and penalties; discharge all encumbrances which appear to be superior hereto; to pay all costs, fees and expenses of this, including cost of search and evidence of title, advertising and recording expense, documentary taxes and attorney's fees as allowed by law. In default thereof, the Mortgagee may pay the same and seek reimbursement as provided herein. 2. That the Mortgagor warrants the title to the premises. 3. That the Mortgagor will keep the buildings on the premises insured against loss by fire for the benefit of the Mortgagee; that he will assign and deliver the policies to the Mortgagee; and that he will reimburse the Mortgagee for any premiums paid for insurance made by the Mortgagee on the Mortgagor's default in so Insuring the buildings or in so assigning and delivering the policies. Mortgagor authorizes the insurer to make payment of a loss directly to Mortgagee instead of to Mortgagor and Mortgagee jointly, and Mortgagee may apply the proceeds to the outstanding indebtedness or to the restoration of the property, at their sole option. 4. To keep said property In good condition and repair and that no building on the premises shall be removed or demolished without the consent of the Mortgagee; not to commit or permit waste thereof; not commit, permit or suffer any act upon said property in violation of law; and to pay when due all claims for labor performed and materials furnished therefore. 5. Mortgagor hereby assigns to Mortgagee during the continuance hereof, the rents, issues, royalties, and profits of the property and of any personal property located thereon. If Mortgagor shall default in payment of debt secured hereby, Mortgagee shall have the right, with or without taking possession of the property to collect all rents, royalties, issues and profits. The exercise of this right by Mortgagee to collect shall not be construed as an affirmation of any tenancy, lease or option, nor an assumption of liability under, nor subordination of the lien or charge of this Mortgage to any such tenancy, lease or option. 6. Upon full repayment of the debt and upon cancellation of this Mortgage, Mortgagees shall reconvey to Mortgagor, without warranty, the property held hereunder. Mortgagor hereby acknowledges that one of the Mortgagees may execute the satisfaction and/or release of this mortgage and re-conveyance without the consent of the other and that said satisfaction and/or release shall bind each and every Mortgagee hereunder. 7. Upon Mortgagor's default, Mortgagee may at any time without notice, either in person, by agent or by receiver, and without regard to the adequacy of any security for the debt hereby secured, enter upon and take possession of the property, in its own name sue for or otherwise collect said rents, issues and profits, including those past due and unpaid, and apply the same, less cost and expenses of operation and collection, including reasonably attorney's fees in such order as Mortgagee's may determine. The entering upon and taking possession of said property, the collection of rents, issues and profits, or the proceeds of insurance shall not cure or waive any default or notice of default hereunder. 8. Time is of the essence. Upon default by Mortgagor in the payment of any indebtedness secured here by or in the performance of any agreement hereunder, all sums secured hereby shall immediately become due and payable at the option of the Mortgagee. In the event of such default, Mortgagees may execute a written notice of default and of election to cause such property to be sold to satisfy the obligations hereof, and Mortgagees shall file such notice for record, in each county wherein such property or some part thereof is situated. Mortgagee shall further have the option of foreclosing this Mortgage in the manner provided by law for the foreclosure of mortgages on real property and Mortgagees shall be entitled to recover in such proceedings all costs and expenses incident thereto, including reasonable attorney's fee in such amount as shall be fixed by the Court. Form No. 1 Mortgage-General (7-1-05) page 3 of 4 pages I i i I i I