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<br /> 77- .U � � 29
<br /> T. MORTGAGOR FURTHE23: ; COVENANTS AI�ID AGRE�S: � , , -- _ ,�. '
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<br /> � � �. �. That the 'Mortgagor will pay� the � indebte¢ness;��. as hereinbefore provided. � � - �
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<br /> . � . � . That the `Moctgagor }s the .owner qf. �said E�roperfy in fec simE�le and has � good � � right and. law[ul authority � to� sell ancl` � . ,
<br /> � convey the sarrie a,nd tRut th� s$me is ;free �and clear of, any lien o;r rncumbrunce; and that Mprtga�or will warrant and deferid � the ��. ' '
<br /> � Litle to said `premises against the claims of"a.�f ' P�rsons', whomsoever., . -, '
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<br /> : �� To y�ay immgdiately,; when due and"pdyable alt :general taxes, special taxey,- sG�eciEiS by��Hsments, water charges, sewrr aerv= -� � �
<br /> � � � ice chvrges, and +other texes :and charges against said � F�roperty;�and. all �taxes levied�� �on tbr debt s -rcured� hereby, :�n<1 � to,furnish ihe" `� , .��.
<br /> ���� � Mortgagee, upori =ret7uest;. . with ^� tfie; eriginaL or' dtiplic�#e receipis tkifrretoc. ��The Modqagor agrees' that �there vF-ali be� � ad�led to �� � � ��
<br /> �. �eaoh m�nthly payment reyuired hereunder nr �under ttie evidenre nt debt' secured ��h�reby an. xmounC eslimated by the�� A4arYga�ee . � �
<br /> ���ta Le �au�cien4 Lo `eriAb1F, the �Martp,agee:,to �tny, es� they. br_.;.ozn.tr dvr, all �����uxes, t�aseasmeatl.s, an�3� similnr charges u(x�n ,�Lhe prem� ���
<br /> .I � � � ise�s s�]byect therrto; �any ;cieficiency tu•cause" o[' tt�e� � insufi'ic(ency �c;f such�- �a�idit.i�nnal " F�ayme,zts � tihall be fort}iwith � deptxsitetl hy the�'�� '.
<br /> � �� � Mcirtgagor. with �- Yhc> � Ivtortga�ee u�ion dv.mand hy. tLc Mortgagee. � Any deL•iult under � this ry:iraqrapF �yhnll be �dec-med n � rlcfaulf in
<br /> ' payrnent 'nf tnxes, �� usvessments, rn- ' similar �charKeE require�l hereuncler. � � � � ��
<br /> � 'Phr Mortga;or agreea that �thece . shall also he � �ddeJ to each� monthty payrn�i�t of , princi ��a7�-anci interest reyui.md here- ��..
<br /> �� ' . � � uncie� aa anre�unt eaY.imatcd $y the Mortgagee tio be sidficient to e.nabke � the �Mort�nge�• to� jiay, as it �� hecomc�s ilne, tbe insurance . � ��;�. ��
<br /> , �" � � . prernium � nn anY. insurance policY deGvered. to the 1V2ortgage.e. AnY d.eficioncy hccauac of [he irc;u(ticiencY of . sucFx additiunal . pay:. � ` , ` �
<br /> - � �, � � � � �nenls ���shall b�• f<irt6witli -deposited � by� the� Rlb�tgigor "with the�� Morteagef�i .upon rlemand � by� thi� T�4hctgngea. � Any �rSefault tznder . this �
<br /> .paTagra�h shall' be� deemed a defaul6 in thi- paymcntbf �in5urane� VrE'miums. If ` the ; �olicy 6r�� policir. s��depusited�� are such`as hcune-� ��
<br /> � � � awner_: or all risk policies, arid the deposiLS are insu�cient tn pay �the entire premium , the 64ortgagee may � airpFy the <lep��sit - tcr �
<br /> �. � �. pay premiums on risks re:yuired to be insvrecl by Ifiis mortgage. � � � � .
<br /> F'ayments made by thr. MurL�;agor undt�r the s.i�ave p�r�graph, muy , at Ytae n�ation of Lhe Mnrigage�e, be, held ' by� it rxnd
<br /> � � camininKted with � other such funcis or its own tunds fur the riayment o[ such iteriis�, �rid�� uittil s�� aFi�ilii:d,� such P�Y��'nts �re lic�reh.v
<br /> � � plcdged as � security for Uic unpaid balance o[ the mortgage indebf.edness. � � � � . � � �
<br /> . � . To proeure, deliver to, ani] me�intain for the � ber�eflt of the Mortgay+�;e during tt�ie life of this �mortKsge uriginal policirrs <'and
<br /> reelewals tl�ereuf, delivereri at laast tt:n clay�s I�fore tkie expiration of :any . such policie�s, insuring agai.r�sL fire and �nther irvsurable
<br /> � �. � � hazardn, cas�aulties, and� contingencies as the Mort�aF,�� may � reryuire, � �in� � rin amoant� equal �to thc ��indebtednesa �secvre.d . by. this �
<br /> . Mortgage, � �nd � in companies t+eceptt�hte t.o t6�e \lortgageer, with loss payable dause in favor at and in form ecceplabte to thc M�ortga- �
<br /> : � . � gee. In the evr.nt any pe'dicy is not renewcd o❑. or f>e�l�� rr. ten days of its GxP� �'ation, f�he Mnrig3gee. may procure +nvurance � on the
<br /> irnprovementy, pay the premiotn y.hrrrfur , and sueh sum shall hec:umc-. immediatc:lY duc+ and pt+yable with interc�st at l3ie. raze sef �
<br /> � farth i:i said notr until paid and ahtiU F� secured by t.his mortgagc. F'�ilure on i.he ��nrt cif Ihe Morfgagor� to fisrnish suth re�rer�wals
<br /> as are herein requircd or faila�re. to pay uny sums advancs�cl t�eraunder sha11, aC �,be op4.iori of t.he Mortgagee, cunstitute a . dF(ault
<br /> � under the termc at this mort�age. 'I'he delivery of such policir•s shall, in ihe event vf default, constitute an assignment.�ot the . ml- -
<br /> � � earned premium. � . . . . . .
<br /> � Any sums received bY thc Mortgag<:�e by reasun of luss or damaKe insured against znay be retainec3 hy the Murtgagee�� �
<br /> ' nnd �app2ied tpwacd the payine,t u[ the debt heretry sccured , ur, at the aption of the. Mortgagc+e, such sums uither � whulf,y. ar. in �
<br /> � � part may be paid over Lo the .Murfgagor to be used to repair such Luildings or to tiuild ' new buildinga in ihe•ir place cx f.or� any
<br /> t>Cher purpose or object satislaCtury to the ;l1url�;agee withoul affect.ing Lhe lien on the mort.gage (ur the ftdl 2niounf secured. here� �
<br /> . by� before such F�ayment ever tcrok place. � � � � . . � � � � � �
<br /> � � � Tu ptomptly retaair, restare ur rebuild :� ny buildings or improvcments now ur herc+after on the prernises �which may he- :
<br /> , .� cume damaged or destroyed ; to keep said premisrs in ;;.�id condition ancl reptair :�nd (rea from eny mechanic's ]ien or other lien or �
<br /> . � claiin of lien not expressly auburdinat<>d to the lien hereof; no4 to sufTE's or permit any unlawtul use u£ or any nuisancc to ezist on
<br /> said prpperty ��nuz� to pertnit wasLe on said prumisc:s , nor Lo do auy other act whe. reby the �pruperty hereby conve_vert shall becnme� �
<br /> lers valuable, nor to diminish or impair ita value by any act or omission to ac:t to c��tnply with alI rcyuirements uf taw with rc��spect �
<br /> to the mortgaged premises and the use thereof. . . � .
<br /> � That should the premises or any part thcreot be taken ur damaged 6y reasan of any public rmprovemFnl or <:ondcmnati6n
<br /> proceeciing, or under the �right of eminent domain, or in any other inanner, the �lorigager� shali f>e enLiQed to akl com.pensalions, �
<br /> awards. .and any other payment or relief therefor, and� shalt be enLitied, at its oX�tic�n; to t+nrnmence. .apfieai� in � "anti � prosecute in �ts ':
<br /> own name any action ur proc:eeding, or to mnke :�ny cumpromise or settlement, in co�unection with Such faking or damat;e. A17 such �
<br /> � �� � compeneation, :�awarda, ��� damagc�s, righk � of� �action and prue;.eeds are hereby �� assigned �to � the Mortgagee, :who� may� diter �� deducting ; �. �
<br /> " � � � therefrom�. all '.its exPensea, release � any moneys soxeceived by it or apply � t.he -same an any � indebtedness secured �.f�rreby. The �Mort-. : � ,.. .
<br /> . gagor �agrees ! to -execute� sueh . furthcr. � assignments� af � any .wmpensation, awards, ,dama6c.s, and cights. of actiun an<i, qroceecls as , the, " . . . � �
<br /> . . . . Mortgagee �.maY � re9uire. :. . . . . . . . . .. . . . � . � . . . . .. .. . . . . � � '�� .
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<br /> �� �� � . That in case of [ailure to pcdorm any of tl��e coe•eiiants herein., the Mortgugee may � dei on the '�R1nrt�.agor's� behalf� ev�rything ' � �
<br /> so cavenantedt thaf the Mortgagee may also cia any act it may cieem necessary i�i protect the lien thexeoF, that the Mor[Kagor will ;,;�„ � � . �
<br /> : � re�ay upon ��demand any � moneys �paid or disbursed by the��Mortgagee far �any of the above yurposes, and such moneys� i.oKet6er with : � �
<br /> interest � thereon- a£ the� rate ��provided in said -note shall become so much �� additionaL� � inc3ebtedness hereby�� secured � end � .may Fm in- �
<br /> cluded in uny decree furecloxing thi� mortgage �and be paid out of the ren4Y or proceeds of .sale of� said � (>remi�wes� if nat otherwise � . . � ��
<br /> . � paid; that it shall not be obtigatory .upon the Mortgagee to inquire into� the validity of any lien, encumbrancc•s, or . claim in ad-
<br /> � . vancing 'moneys�� as� above. authoxized. �but�� ��nothing �. herein� contained shall �be construed� as requiring .tfie.. r7ortgagee tu �sdvance nny � � �
<br /> � ; . � muneys.:for �nny��such .purpose nor to'd� .any act ,hereunder; �nc� that Mortgagee shall not �incur anY � persunat liahility Ftecause of any- . �
<br /> ` thing it, may dc� or omii to cly hereunder.
<br /> � � In the event oF the ..default by Mortgagor in the Nayment of any . �insYallmeni, as reyuir�d . by the Not�e hecured hereby. qr� � � � .�. � � �
<br /> � � - in the performance ot the� obligation in this mortgage or in the note �secureii there6y, �the� MaiEgagee shall be �entitl�ed t.o dectare the �� � � � �
<br /> ` �. . . . debt. secured hereby. due and ;payxt�le without �utice,. apd. the, M�rtgagee shall be .entiUed at its option, . without. nulicr, .eitherhy, ifselL � � , � � . � � � .
<br /> � � � �� � � or hv a re.rnivei �to ��be eppointatl �tiy the� co�rrt �therenf;�end� witho� t regard to �� the sd�{uacY nt � anY :securitv for thF� in�lehtedrteas se- � � � � � . �
<br /> , , . � cured .hereby, fo� entrr unun and take posAessicin of 2he - mortgaged premises; � and tq collect and -.receive�� the � rents;� �iasues' and profits � � � �. . . � , .
<br /> � � j � � � . �� thereof; and apply the same;e, .less wsts of o�eration and � collection, upon �dhe �� indebteclness secured by this mortgage; said rents, � . � .
<br /> � � � �- issues`and ryrofits being�hereby assigned ta the' Mortgagee� av �furt�her sr�curity�� (or the. paymenL bt. all �.indebtrdness�� secnred. hereby . . �i � . � . � .
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<br /> " � . The MortgaGer. shall have the powes tu appoint any agent or agents it may �desire !or the purpose of� repaicing said prem- � -
<br /> �ises; reoting the: same; eqllec#ing the � rents,.� revenues .and incume, and�. it .may pay out of sa.id income all expenses incurred� in rent- . . ° � . ,u, " C'� �
<br /> � ing and managing �Lhe same and ��nC collecting:, the rentals therefrom.' The � balance remsining, if �any, shall be� �applied� toward [he �, '�1 `
<br /> � , dieeharge��.. �of the mortgage Sndeistedness, This assignment is to terminale�� and become null and void �upon relexise o[ this mortgage. � ,� .
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