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<br /> 77` �1 [) 4 � 4 '� �'
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<br /> THE MORTGAGOR' FURTHER COVENAI�ITS AND AGREES: , „ _
<br /> . . . � � � � � . . . � � . � . � "4 ..
<br /> � � � � �That the Jvfortgagor� will pay �"the inHehtec�nesn aschereinbefore provided. - �� - � � � . �
<br /> ���� ' � �That Lhe Mortgagur is �the vwner ot said Properly in fee -simple � and has gooci riqht� and lawful authority to seli and
<br /> convey the same and that the same is free and cfear of xny lien or encum6rance; and �,-that Mortgagor will warrant and defend the �
<br /> ; . title� to � said� �premises against ;the claims qS al1 -�: persons whomsoevec . . �. � � . � ���
<br /> , � , . ,: _ - . _ ,. .. , .
<br /> - � � . .. � To pay imtn�diateiy when dae a�ad payable a11 general taxms, special: taxeg, special a�essments, water charges, se�a*:er serv- ' ���
<br /> "� � � ice charges, � and pthei taxes�ancl��� rha�ges against sai�l�� properLy, � and all t:axi>s�7evird ort the deblsecured hereby, end to � furnish � the
<br /> � Mortgagee, u�n rr,quest, ���with the rz�iginal ot -ciqplieate <receipts, °therefur. ��The � MortgaKor agrees � tliat� there -�� shall be���added to ��
<br /> ' � ' each montYdy �aymen[ regui{ecl lacreta.nder or undcr the� evieience �of debt� serured herahy . an amuunt . eslimated l7y the lNortgagee , �
<br /> ' : � �ta � be suffici<•at tp enable the �'Tvlbr��a�gce .� tr> pay , xs they becomi� �lue;, aR � faxes, asses�ments, �nd similar charges� upnn �khr. �. gre+tn•
<br /> � .�� � � i.ses subject -thr.rein; any c3eficien�y (>ecause af ��ilie'�insutTcirney� i� f such � adcf�iti<inal � pap�nents � shalt be � fdrt.iiwith `deP�i [ed" hy the- � ` �
<br /> ( � � . .Martgagiir N'ith the Mortgagce: upon demand by tbe ;�.-lortga�,ee. Arxy � defa�tl� un�ler t. his paragr�ph shall be clecrmerl a � defau)t .in � � -
<br /> i� � Payment` of � f:�txes,'�as.$essttaents; or�� similar charges . requirorl h�arc.undc. r.� � . . � �. � � � . . - . . � � . . � � .
<br /> � � The MnrtKagor agrees LhssC � 4here. sh�1t alsa be added Lp i+ach �zionth)y � payment of �principal. �ami infr•.rest requireil here• � �
<br /> . � under an � amounL e�.timated by tha Mortgagee t�o be. s,ufficient to ennble the Mort�;��ee t<i � Fiay, as � iE �bere�rnea� rju�, f}ie � insurnnce �
<br /> � prerr»uin pn. any.. insurance policy delivered . to t}�<a Mortgagee�. A. z� y dcticiene�� bec.a�ssc uf tlie� insufficiectcy uf suetx atl�3iti�irnal . ��ay- .� .�. . .
<br /> � ' � � � menLS �ha13 � b<r fortFiwifh depasitr,d by thr Mortgag�>r witFr the Mnrtgagie ug:�>n dr�rnai�d by � the 'vlortgagee. Any cleCaull �undc-z� this
<br /> : . . � paeagraph shall lx� d�^einer9 a dc•fault in the� pay�neiit of insurrance pre.inivms. IP �ttac ��r�4icy � or policies � cle��ntitPd� are suck� �' as hume�� � ' ���
<br /> � � owners pr a❑ risk policies. and ther depo:,it� are insuIIici<snt io pay Lhe a�ntirc+ premium . the MorigssQee rnay apply t}re deposit io
<br /> � � puy premiums on risks required to be insured by this martgage. � � � � �
<br /> � � . Yaymrnts �n�d�+ by t.he Mortgagnr u�r�der the t�ihove � p�+ ragrtaphs may, at. thr uption ot � the Mor(gag�te, he held � Fay � it �and � -
<br /> � . eoinroingled with other suc�h funds or if.s own [unds f�,�r thr. p:�rpznrnt of sirch items, and n��fil so epplwed, such payrnents are lie�reby �� �
<br /> . p�lc:ciged hs security for the un�;aid balance �� uf the mnrtgagr i�ideyterinesc. � �. . . - . . .
<br /> � . � Te> 7Sr�icure, deliv<'ar to, and ❑iainkuin ferr t6c b¢:tefit of thv I�Sortga�ce durin�; lf�r. life of tFis � m�rtRage urigin:rl policies anr) � .
<br /> renewuls there�uf, deliverr�3 at lrast teri days berfore the. cxpirAt.iosz oC ;�ny such pr,ISci�s , inauring against fire and� uther � insurable. . �
<br /> hazards, easualtiea, nnd contingencies as thr MortnaCEc�: mtsy rc:Y.yuirn, iu an arnaUnti �{ual to the indebtedness secured by thie �
<br /> . I�Tortga.g,e, � and in com{>�nies acceptesble to the M��rt�;;agrc�, with Soss jrayahle cl.nuse iri ft���e�r c�C and in Eorm aceeptabfe t�o tke t2ortga-�
<br /> gee. Tn the evetxt at�y pulicy is nut rrvncwrd ur�� crr befure tcri �iaya uf its rsl��irafic:n, th�- ,Vtorfgakee may ��roeuce insurance on t.he �
<br /> . iaiprovc:ments, pay the �r��n��ium t.herefor, i�rrd �u�ch sum shuil b�c:>vne irnror,�di�toly di�v aod payable wiEh interesE at Lhe rc� Ye set� . � . ,
<br /> � ` � forth in said note unfiL pe3id r�nd +k�all L��r s.rcured by Lhis mnrtgage. Failurf: nxi ihe l�>arY of thr Mort.gagor to [urnish such renc�walc
<br /> , as are herei�� � required or failu.re to pay any �;om+ :advanc<d hereund�r shall, at the option of tl��<; Mortgagee, cunstitu4e n default �
<br /> .. under t6e ternu o( t}ris rnorlqatte. T'he r,3e�livery uf .:uch pulicies wtiall , in the event oC deFxult. constitute un asaignment. o( the un- . � .
<br /> � earri�i prern[um. . . . . .
<br /> .. � AnY sums receivcd bY' tt:e MF+arl.gag<=e }:y re�etic�n nf Ic�s� ur �ic+inagn ineiired akuin,t mal' hn i'�'taic�nd lao thei Muctgiagee . � . . . �
<br /> � � and ap�lied toward the payment� uf f.he debt. hrreby accureci, or, aC the op:ation of Ihe� Morigagee, such sums eif.her wholly ur in .�
<br /> part cnay tm paid over t.o She Murf.g�gor to be uscd tn r<=pair si.�ch buiiding+ or to bai ;d ' new buildings in their plare or Lnr any ,
<br /> � �othet put{wse or object rsatisfaMur,y t.a the Mortqagee withui�t. aRe�ctin�; th<r lien on thr mortgage for the futl amaunt. tiecuretl he�e- �
<br /> � by tie(ore such payment ever 1�x�k plr��a . � . .
<br /> � . 'Pa promptly rcpair. resfore ur rebuild any bui3din;;s nr irn4xo��emf�nts noa� un c�:�rea(ter on the premives which may � he� . . : '
<br /> �� rnme damaged or destroyee9 ; to keep said premises in goc�d conditiun. an<3 repf3ir and lreu frum any rnechun [c's lien or uther lien or .
<br /> claim of lien not ezpzessly subordinated to the licn hrn:�nf : not to su.ffer or p�.�rmit any ixnlawtul use u( or any nuisance to exist � on �
<br /> � � � said proE)erYy nor tc� persnit w��ste on sraid premises, nor to dn any other acf whereby Lhe prnperty hercby conveyed shall taeCome
<br /> . less vflluable, nor tu climinLsh or impair its valoe by any aet or orni�sion ko act : to i•ornpl� w�ith all rnyuiresments of law with rc:spect . �
<br /> . � to the murtKaged premises and the use thcreof. � � �
<br /> . � . � 'Phat should the premisFas or any part t }�tnevf tx- taken ur <lumaged by reason of any public i.mprovement or condemnat.ion � . � �
<br /> � � proceeding, or under the. right of eminertf dnmain , or in any other marmer, the 1lortgagee shall b�r erditled to all compensations, �
<br /> ��' � � awards, and any other payment ar relief fherefor, and� shalPbe � e� titled, at � its � option;� ta cummence, appear � in �and • nroesecut.e '� in its � �
<br /> � own name :iny action or proceeding, or to make any comprumise or aettl<�ment in connection with such taking ur damage. A!I such �
<br /> � �compensation, awards, dumagc�; right � of �action and �procecx3s are� hereby assigned to � ihe Mortgagee, - who � � may, attet ��.deducting . . � � � . �
<br /> . . therefrom all its �ex�eivses, release any . moneys. so zeceived. by it. ur apP�y � the sume c,n any. . inde6tedness .se.cured hereby. The �Mort- .� « � � � � �
<br /> � gagor ,agrees � to execute. such turlher assignments of any compensation, aw�ards, damaRes. �nd rights of aciion. and Rroceeds as the� . � . � � �
<br /> MortgaSee. maY� reqnire. � . , , � � � . . � . � . ' . � � . . . . . . . .
<br /> � � � . 'fhat in case of tailure lo pertorm any of the cuvenanla herein . the 1Ylorlgagee may d�, nn the � MortKagor's behalf ' everything ' � � � � � �
<br /> . . . �so covenanted: thxt the M<>rtgagec m�y also do any act if. may de�+m necesc,ary to prot��ct the licn thareof; thaf the lviortgagor will �� . � � � . .
<br /> -. � repey upon demanel a��y mon.y. �peid or di..hurscd Ly the b7urt�;agee fu1� �any uC the above� purposes, and �such rnoneys toget6er with � . , . � .
<br /> � � inEeiest� thereoa� at the rate" provided 'xn said note �shall become ao much additional �inc3ebtedness hereby securecf� and� 'muy � be in- - . • .. �. � : ��
<br /> �: � � daded in any dectee foreciosing this mortgage and be paid out ot the ren�s or procer.ds uf sale of said � premises if,� ndt otherwise' � �'�� � � . - � � � �
<br /> � . paid; � that it shall not be obligatory upon the Mortgagee tn inquire 'rnto the vulidity of any lien, encumbrances, �� c�r claim in ad- . � . . . .
<br /> : � � � vancing�. moneys��as� above �sut.horized, but nothing� herein contained shal4 be construed as reryuiring� the Mqrtgagne tq .advance any . , � � � � � �
<br /> - �. moneys� for any such purpose nor tv. do any act herrunder, and th�t Mortgngee shall not incur any persuna! 14ability because oC any- -� � � � � � �� �
<br /> � � � thing it �may, do ur ymit �-to do hereunder. . . . . . . . . . . � . � . � . . . . . . � � . . . � . �
<br /> � � � In the event of the � defaulE by Mortgagor ir� the pxyment oC any installment, as �required by the Note . �securr�d hereby, or � . � � � .� .
<br /> ; . � � in the perCormance � of the� obtigation �in this mortgage or in tlie note secured l:hereby, th� blortgagee shall br- ent.iUed to declare the � � � : �
<br /> � � . cf�bt. secured hereby due �. and payable without. n�tice, .and Yhe. . Mortgage<e sl�alt be entitied ut its optiun, withou.t notice, either by itsel� � . . . �
<br /> �� or.. by. � ;ece:ivQr to �be ,a{�Eivinted by .the � court thereof, and with�aut regarci ta the adequacy. of any securit}^ Ior the indebtedness se- . . � � � �
<br /> � � ruted hereby, to enter upon � and teke . �poY4essiim' �o[ the � mbrt.gaged premises, � and Lo c:otlecl� and � receive -the �renfs. essu�-s and T>rofits � . . � �
<br /> � thereof, and 'apply � t3ie same; )esa costs�� o[ operation �� and �collection, up(m thi= indebte23nea�a �!iecured l�y ��. this morlgage; � said ' ren[s,�� . � . . . . . .
<br /> i�sues and� fy�� ��ng hereby �assigned: tuthe� �Mortgagie aa (urLhersecurify � for 6he payrnent of a11 indeLtednrss serured herehy. � �. . . � . �
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<br /> � � �� . � �� � 7'he Mortgagc�e shall have the power to appomt any agent or agents iC may desire for t.he purpoae nf rapairing �said prem- � � - . ". '�„} `
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<br /> isex; renting the same; rol3ecftng the. rents, revenues nnd income, atid �t. may {>ay out of said ine.wme all expensrs incurrew.i in renb xM �',K ���«
<br /> � :ing xnd � managing the same ani3 of coliecting the rentals theretrom. The balance remaining, it any, shall be applied toward the � } ' ,
<br /> diacharge of the mortgage indebtednesa: This assignmenl is to terminate and hecome null and vc�id Upon release of thie mortgaqe. . � �i '�"
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