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<br /> MORTGAGORS MAY MAKE - PREPAYMENTS 'OF PRINC�PAL ON �4NY iNSTALLMEN7 DUE DATE. SUCH PREPAYMENT SHALL BE
<br />� � APPLIEU TO INSYALLMHNYS� LNSi' YO$€COME G[IE lIRDE�f FNI� :+tnwirer.� � ocnyincsi Tuv �w�r. ��.�.��.. � � �
<br /> . � . �vncu i$ irVl If7 UthAUIT� � ' �
<br /> AND IS THEN THE OWNER OF THE MORTGAGED PROPERTY, I1PON RHQUEST OF TH[i UNDERSIGNE�, PAYEE AGREES TO FURNISH
<br /> TO THE UNDERSIGNE� 100% OF SUCH PRINCIPAL PREPAYMENTS, UNLESS ADVANCEMENT lS PROHIBITEO BY THE REGULA-
<br /> TIONS OF CHARTERING AND SUPERVISORY AUTHORITIES THEM IN EFFECT: ALC SUCH ACVANCEMENTS SHALL BE SECURED 6Y
<br /> THIS MORTGAGE IN THE'SAME MANNER AND EFFECT AS IF NO PREPAYMEN7S HAD BEEN MADE '
<br /> THE r40RTGAGOR FURTH�R COVENADITS AND AGREG3:'
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<br /> 'Pl�nt the Mortgagor wi11 pny the indebtedness as hereinGefore provided:
<br /> � That��. the Morigugor is� tho owner� o[ eaid property :in�. feu simplo nnd has goal right and � lnwful authority tu �sell and � .
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<br /> � � �nnvey ihe swne�. and thaf. the same is free �and clenr of nny lien or - encumbrance; and thnt A-tuHgagor u�ilf warrnnt and -� defend the . � � � � �
<br /> ` title� �� to said�. premis4w eguinst � the � claims o( all � persons wh�imsoever.- � � � � - � � �� � � � � � � �
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<br /> - � � � Ta� pay immediately when due nnd payable ull general tuaes, specinl �tnxrs, specinl� rissessments. w�ter chnrqes, sewer serv• .
<br /> ���� - ice churges;. and �othr.r taxen�. and��charges agninst said property,� and all taxea levi�Kl nn .tl�e debt secured hereby, �and to furnixh fhe . - � .
<br /> �� - � Mortgagce, ujmn requeat; .with .the � originai � or. duplicnte� �receip'ts thenrfnr. � 'I'h�� r9orfgngor - ngrees thnt thr.re 'nhall�. be � added t�� �. . -
<br /> {' �� each�� montLl � � � � .
<br /> y payment required hereunder � or under the evidence of deht secured hereby nn amountehlimated by fhe Dtortgagee �
<br /> � �to��- be� suQicient to enable � the hiortgagee to� pay, �as they .become due; � nll� tnxc�s, nssessmen4s, r�nd �similurchergi:� upon thfe pmm- � �
<br /> ises subject�. thereto; �nny deficiency turause of thu . i�v�uflicicncw of nuch addifional � pavmenLv shall� be �forthwith de��rnited by� ' the � � �
<br /> � � A4ortgagor � N�i(h �.the. .Mortgagee u�mn demand by the hlortgxgee. AnV d�(ault ut�der this parngrnph shall � be deamesl n de(ault in. - �
<br /> � � puymen! o( taxes,- as.sessments,- nr � similar chargrs rcY�uired hereunde,e . �
<br /> ' . � 1'he Mortgagor agrees � that there shall ulso be addr.d to carli mm�thiy pnyment of principnl mid intrrest required here• .� � �.
<br /> ` . � undcr an amount estimated by the ?�tortgngee fo be ,u(ficient to enahlc tl�c hfortgagce to pay, as it Ix�comex due, the insurunre � �
<br /> . premium . on any insurnnce policy delivemd to the D4urtga�ee. �ny deficiency becnu�:c of fhe insu(6riency of euc}i additional pay-, . . � � � �
<br /> � menLs ghall lie forthwith deposited hy the \lrirtgegor »�ith the rlortgngee u�x�n dcmand by the \tortgngec. Any de(uult under this . � �
<br /> � � � � ��arngrnph Rhalt he� deemed u defnult in lhca payment of insurunce premiums. It Qie �xdicy or policies deposited ere such � as home- � . . � �
<br /> � � � owners or. atl risk policiev, and � the deposiis nre ir�.sutficient to pay lhe entire premium, ihe rtortgagee may xpply the deposit � to � � �
<br /> . pay premivms ua ris1;; required tc he in;urcd hr this mortyn�;r:. � � �
<br /> � �. Pnyments mnde by !he \tortgagor under the above paragraphs may, at. the nption ui the niortgugce, b�� held b,r it �and .
<br /> � - commin�led � with nther such funds or its nu�n funds for thr puyment OI 611CI1 ItPfi15, :111(I 11IlIlI sn applicJ, such pnyments arn herrb,V
<br /> � � � � ple�ged as .security � for the unp�id hnlance ot the mnrtt;age� indebtedness. � � � � -
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<br /> . � . . To �.+rocurP, deiivr,r tn, nnd meintoin for the Lti»eGt e[ the Afortgugec during ths lit.- of thia ,nortguge originaP policie. und � �
<br /> �; . � � . � rtnewala tLermf, delivered � at leivst ten days before the B%j)1CiltlO❑ o[ any such policies, insuring ageinst fire nnd other in5urable � �� � � . .
<br /> . hazards, cavualties, � and contingenciea ns the :�fnrlFagee muy require, in an amnunt erydnl to the. indebtedne.ss secured .� by tliia �� . �
<br /> rlortgage, and. in compunies accepta6le to the NtortgaFee. wlth lo::s pay:ibie cinuse in facor of and in iorm nccepfahle tu ihe :�fortga- � � �
<br /> � gee. In the e��ent any policy is not renewed on ur beforc ten day> o[ its expiration, the �(orlgugce may prceure insurance or. thc � � �
<br /> + �� t improvements, pay the premium therefor, and such sum shull became immedintelv due and payable witk interest at the . rute set � �� . .
<br /> forth in said note� until puid �nd shnil be secured bp this mortKa�e. Failure on the part of the- Mortgngor to furnish such renewnLs " .. � �
<br /> �, � . nK �� are hemin required or [ailure to pay any sums advunced hereunder shall, at the option o[ the Dtorlga�;ee, constitute a detault . � - � � .
<br /> . ��y+`, . under the terms of thic morigaKe. 7'he delivery of such pnlicic�s shfill, in lhe e�•ent nf drfnult, constitute � nn nvsignment of the un• �.:
<br /> x � earned pmmium. � � � . �
<br /> ��� �+ . � . . . � � .
<br /> Any sums received by 1he \torigagee hy renson ut bss or damoge, insured aguinst may bc retained 6y fhe Alurt�;ageu � � . .
<br /> ond �pplied toward the paymenf of the debl hereby secured, nr, at the option n[ the Mortgugce, such sums either wholly or in . � � � �
<br /> � part may he pnid cver to the Mort�,�agor to Ix used to ropair such huildings or to build new buildings in lheir place or fnr any � � � � � .
<br /> other purpose or object s:�tis(nctory to the �tor�gagee �cithuui nffecting the lien un thr mortguge for ihe full amount secured here- . . - � � �
<br /> hy Imfore such pnyment eeer tonk pluc�. �. � � �
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<br /> �, � y TO prompd.v repair, IeStO�C or rebuild a11Y }1lli�f�1l1�5 (! 1' improvemenLs . now or fIC�CI(tCC OR 1�1P ))fP7ql.SFS K�bich muy tx`-
<br /> ' come dama �ed� or dc5troyeci; tu kee �aid . �
<br /> :� 6 p : premises in �;axi condition and rep�ir nnd trre From nny mechnnic's lien or other lien or
<br /> ' � 'v c(aim of lien nut expretivly sulx�rdinated to the lien hemo[; not to sufier or pennii nny unluwful use u[ or :my nuisance tn ezist un - � - �
<br /> � ��� t suid property nor to permit waste on said premises, nor lo do any other nct whcrehy !he property hereby conveyed shell fxrcome
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<br /> less valuuble. nor tv diminish or impair its value by anp nct nr omic,ion to act; to cnmplV «'ith all . requirements o( law K•ith rnspect � � �
<br /> " to the mort a
<br /> g ged premises and the use therml.
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<br /> : � �i Tliut should O�e premisos or any part thereof be taken or damnged hy mason o( any piiblic improcemenf or cnndemnation � � .
<br /> proceeding, or under the right ot eminent de�main, or in any other munner, the � Afortgc�gee shnll ho entitied t�� al! cnmpensatioas, � . �
<br /> � i � awards, und any other pnyment or relief therefor, snd shall be entifled, at iLs optinn, to commence, appenr in and prosecute in its � �
<br /> �- � own name az�y nction or yrocecrding, or to mnke nny compromise or settlement in cunnection with such tnking or damage. Alt such � � �
<br /> � �� compensation, nwFirdv. dnmages, right ot action und prceectils ure here6y ussigned to the Tiortgugec, w�ho may, utter deducting
<br /> �� ! therefrom nll ils ezpenses, rrlense xny muneys su n�ceived by it or apply !he same on any indebte�lnc�„s securecl hereby. Thc \fort- � � �
<br /> � � j geRor atireee to execvte such furiher assigmnent9 oi any compcnsation, awards, dama�es. and rights o[ nction nnd proceecis Fic tt�e �
<br /> hlort�nGee � may require. � .
<br /> � � j 7'hut in case uf failure to perlorm any of tlie covennnts herein, lhe klortgagee mny do on the h]ortgagur's behalf e�rry�hing � � � �
<br /> - . � so covenunted; thnt the htortgugee may nlso do any act it may dcem neceSsary to protect the lien thereof; that the AfudFngor will � � �
<br /> '� ' repey upon demnnd nny moneys puid or disUutsed by the Slortgut;eo fnr any n[ the abo�•e purp�nes, and such moneys together with �
<br /> inlerest thermn at thc rate prm�ided in said note shall becomc so much additional indebtedness herchy secured anrl may be in- .
<br /> ciuded in nny decree foreeiosing . this mortFage and be puid out o[ thc renl5 or procreds uf s�le ut said premises i[ not utherwise .
<br /> ��; ; paid; that it shall not be oblign[ory i�pon the Mortgagee to inquire into the vulidily o[ «m� lien, encumbrnnces, ur cluim in ad- .
<br /> -�� � ; vunciuS moneyx us above authorized, but nothing herein contained shall Ix cnnytrued :L4 rc�uirinF the Afortgagee to advnnce nny �
<br /> .. � .i moneys for any such put7wse nor to do nny act hereunder; nnd thut S7ort�agec xhall not inatr any penunal Iiability hvcause ni any- � �
<br /> thing it mny do or omit to do hereunder. .
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<br /> ' � � In the event o[ the default hy Mortgngor in the payment of any in;lallment, as required by thr No(e cecured herebv, or i� �
<br /> ' i in the pedormanm of the oUligntion in this mortgage or in the note xcured thereby, lhe Afort�,z�gce shalt be entilled tn deslare the .-� .�
<br /> :. j debt secumd � hereby due and payable withnut notice, and thc lfort�;agre shall be entitled at i4s option. H•ithuut nutice, either hy itset[ - � i� "�xY ',��'�
<br /> � or by �n .trceivcr. io bc appointeci by the court thcrrof, and r�ithout regerd to the nd��uacy of nny security for ihe in<le6t��lness se- . ��� d s-:' .`
<br /> � cured� hereby.� to enfer upon and take possesaion ot the mortgnged premises, ond lo coltect nnd rrrceive the rrnts, issuis end profits � � � � �
<br /> thctfof,: attd apply the same. less costs of operntion and cullection, upnn the indebtcdnesv v�cured by t}�is mort�agr: said r�mts. � � � `
<br /> � � issucn and profifs being heteby assigned to the Morlgagee as further security for the p;ivment o( all indebtedne�c scrur�sl hi�reby. . � � �. '�!.
<br /> � The Mnrtgagee shall hnvu the power to appoint any ngent or at;ents it. may desire for the purpcne of tepairinF �d prom- � , � -
<br /> ise�s; renting the snme: ccllecting the rents, revenues and income, nnd it may pay out o( snid income all expen�es incurnYi in rrnt•
<br /> ing �.and� mnneging. the> sume and of collecting the rentals themfrom. 'i'he bninnce remainin�:. if any, shatl be applir.d tnw�rd the � . . �
<br /> - diFchnrge of t�i� `moRga�e indebtedne�s. This assignment iu to terminntr and tx�c��me nid! and void apon rrlc•.uv �,( thi� m�rlaa�e.
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