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<br /> , T.�FfE MQBTGAGOR FURTHER COVENANTS AND AGREES: � ' ` ;
<br /> ,�� . � That the, Mortgagor will :pay_� the indebYedness, ae �hereinbefore, � pxovided.� �� ' . � � � �
<br /> , ��� � � . � �. . � � � That the Mortgagor is the- dw�er of said propc:rty in fee �imple anc] hns qooci � right � and law[ul authority � to sell . anil
<br /> � � � . . convey thr same and that�:'the sarne �;is fxee and clear� of any . lien or encumhrunce; and that ' Mortgagor witl warranL � and :deft�nd the � : .`
<br /> � � . tille to r�id premises against the cla�ms of �;all persons whomsaever. � .� � � � � �
<br /> k � � � . � , � Ta7 ptiy icnmediately iwhen due ani3 payable �ali general ' Laxes, snecial taxes; . special assessments, water chargex, sewer cerv-
<br /> ' � - � . � ice chargeur, and�.other taxes xnd � charges ��against sairl �property, � and all �.taxes levicii on ttie' c3e6t secured hereby, and Lo furoish � the -� � � '
<br /> MurtgaP>r+'. upon� Yequesf, with thc���� 4riginLl� of dupli�ate receij�l5 iLerefor. TFe � Murtgago'r agrees � that there• �� shall be add'et1 �`fn �
<br /> � . . eae2i mqnthly payment reqaired , hereunder �i�r undcr � the evideilce oC dekst secured hnreby an �arnounL estimate.d by the �b1<�rt�agec � .
<br /> , � � to. �be .sufftetent� to, enabFe :�t}re Mortga�eg:: ��to pr�y, as t-hcy � become due,'�all taxes, . &ssessments, and similarchiirg�s upon . t}ae prem- � � . - �
<br /> ; . � � ises � �aubject Lhereto; any �3efii�iency'�hrcautit� af th�r � ir�su�cirncy o[ sucli addit.ional pa��inents shzlt � he� furthwith �leposited hy �� �t.hF � `��
<br /> � � � ' Mcr�;ty;agyr � v.-ith � thc- .hli�rlgagea uC��>�?� deinand b,v the. D4ort.ga�ee. Any defatilt undr.rr this pnragraph . shall he dr�emcel � a default . in � �
<br /> � � pi3ytnent of 2axev, fasseun�etnfe, nr similar chargcs required hereunder.�� � � . .. .. . � � � � . - � � � � � � �
<br /> � � � � . . � 'Thr-�. .. 2dortgag�ir �grc:es ��. that � there �� shalF � also lx � added t �� c:ach � monthly paYment, ot principal an�b intrrest requiree) here � .
<br /> . �� � � � � unc3er ari amounL extimai.ed by the Mortgagee lu he su�i�ienf Lo en;able tt-�e Mnrlga�;ri� to pay, �as it beroni�s dut�. lhe invurance � � � �
<br /> . � prexniatri . oJt any . insurance lao}icY delive:red to the Mortigxgee. Any de(icie�nc}' bccause uf Ch�r inso�ciency o[ aueh additiona! pay- � � � .
<br /> � � ments �;shall � be fort.hwith <lepc�sitc-d ' by � tLe Mort.gzig�ir with the� �h9ortgag�r upon � demand by the Mdrtga�„re. � A6y �default iiiidei this . �
<br /> � � . � jaar�graph vha!! be cieerxxed a dclau)i in Lhc �layrrsf�nt oF insuranc�e prrmiums. � If � the pn}ic•y� r.rr ' ��olicie�s dF{><isil�ed are• sucli� as lttune� . . , � �
<br /> . . �. owners or all risk poiicies, 3nd [he ile��osils are insu�cienl Lo pa}' the� e nt.ire premium, t.h�� Mortk.ager m2y ap��ily t}rc de�� .n.vit to . � . . .
<br /> � �. . . . � paY prf�rmiums on risku required tio bc insured by t}�is mortgnge. � � . � .. . ..
<br /> . . . � I'�ymcnts made by the Martgagur undar the alrove paragr;iphs may, ai the opt.inn of LY�e Mqrtgagee, be� f'�eld � i-�y it £mCl . .. . .
<br /> c .. � curnmingted �+�ith uther such f�nds nr iL; own fundx fi�� r t}�e payrnent o( suclx iten�c, and unt.il ar� apyrliad , such ���aymcnts arr: hereby � .
<br /> ple+dgecl xa sicurity for the vniaaid balanre nf Uie rnorthagr indebledness. . � � . �
<br /> � 'I'n procur<•, drliver tt,, and enaintnio for ths� h.•ne�fit uf ifia, Mor4 ;;aK�ee dunny; ihes life ot this rxrnrtgag�� original ��nlicies ��fd � . �
<br /> . renewxls ther<n�f, delevercd at lecisL ten deys hefcsre Ihr �•xpiral.iurx of vn�y �uch pulieies, .in5urin� a�ainst f3re and uther insurabfe �
<br /> . . hazarda, casu:�lticy, and contingencies, as the Mortgagee ma�• reyuire, in an amo��nt equal to the indi:t��.¢�dness secured by � Lhis � � �
<br /> . Mortga�e, a�1d in corn{�.raruas i�eoept.able; icr tF�e n4brLga�;t=e, wit.h tc�ti 7,r�yabii; clause in favur of »nd in fu�rn UccepLoble fo thc i�4ortga- .
<br /> � gee. in the event any rx�li<'�' is not reriew�rd � bn or before ten days of its expiretion, the� MortgH�ee may prcxurc insurHnce on the � . . �
<br /> im(.xrovemEcnts, pay .the preminrn tlwrefor, nnd sui-h sunn shalt he<;ome immediately dun and p�y�ble w•ith intt�rest at. the rafe set � � .
<br /> � forth in said aotcr unt.il paid and shiall txr srcured hy i.hix me,rtgage. Faiture on the part of Lhcr Ivlortgagor to fiunivh sucli rene•wats . . ' � �
<br /> � as are herein rc^quired ur f.aifure tcy pay any surtxs advancrcl hercunder shall, nt the o��tis�n oC t.he Mortgagee , cunst.itute a de.F•ault
<br /> under t.he terms o[ Chiv morY�age. 1'}ie delivery of s�c6 przlitdes shall , in. Lhe Fvent o( �IE�Eauit, constitutr, a❑ as•signroent of ihe un-
<br /> .. earncrl prc+miucn. � � � � . . �.
<br /> Any sums recei.-.•rl by th�� Mort�;akne by rc�a.un of losv nr dam�gc inFured against mr,y hc retained by the �1urt�agee �
<br /> � � � anri. applied t.oward lhe payment o( thc drbC herv�}>y- �;e�cured , or. at the o��ition of the Mortgagee , such sitms i�ith��r w}�r,1 � y ur in � �
<br /> part maY be paid over tu the Mortknkor to br used tu rcpair sueh buildings or to build ' new buiidings in Yheir placu or foc any � � � � . �
<br /> � oth��r ��urpose or object wttistac[ury to the Mortgt�gee withoul. a(Tecting the lien on the mortgaKe for lhe Fulf amount secured here- .� � .
<br /> . . by befure such payment ever took place. . . � � �
<br /> � To prc�mptly repair, restore ur rcbuild any k»-uldingv or improvemcnts now ur herrafter on the premiscs which ma.v be- � .
<br /> � � � o<�rne. da�naged � or destroyed ; [o k¢ep said premises in grxid eonditiun ancl repuir and freor [rvm any rneehanic's lien or othc: r lien or . �.
<br /> clairn of lien not ex�ressly subordinute<3 to lhe licn hereuf: not to sufter or pormit any unlawful use of or any nuisancu to exist. on . . .
<br /> � � � said property nor to permit wavte on said premisea, nor tu do any oUier act whereby the property here6y conveyed shall become . .
<br /> le:,s valuable, ni>r to diminish or impair its value by any act or omis..ion tu �3c.t : to cumply witl�i all requirements of Iaw with respact . � � �
<br /> to the mortgaged premises and the use thereof. �
<br /> That shuuld the premi.es or anp part. thereu[ be t�ken or damage:d by reason of any public improvemcnt or condemnation � � � � �
<br /> � prnceeding, vr under the right of eminent. domain, or in any other manner, the Morlgagee shall 6e entitled to all cornpensafions, �. � � � �
<br /> � . awards, and any other payment or relief therefor, and shall be 'entitled, aE its option, to corramence, � appea � in and prosecute �in � its � � �
<br /> i�. �� own name any ackion or pr�x.eeding, or to �nake nny compromise or set.tlement in connection with such taking or dama�e. Ail such . � �
<br /> �� ' compedsation, �awards; damages, � right o( action and proceeds are � hereby assigned to . the Mortgagee, who may; atter � deducting � � .
<br /> theretrom all ita expenses, releast: any moneys so rcceived b.y it or apply the� same on an.r-� indebtedness . secured }�ereby. �The M�rD � . � � . � � � .
<br /> � gagor agrees � to execute such further assignment.s of any . compcn�afion. awerds, damagex, and rights ot actiun and �rocecds as the . �. . � �
<br /> � Mortgagee may require. � . � . � . . . . . . . . . � . . �
<br /> That in case of failure to perfonn any of the covenants herein, the Mortgagee may do on the � Mc>rtgagor's 6ehalf everything � � . �
<br /> � ; so covenanted ; that the Mortgagee may also du any act it may deem ncce�>sary to protect the lien therenf; thaf lhe Mortgagur will ��-v � � . . � �
<br /> repey upon demand any moneys paid or diabursed by the Mortgagce for any of the above purpvses , and such moneys toKetBer with � � . . � �
<br /> , inlerest� thereon � at the raie Firovided in � said note shail become si� inuch � additionai in<3ebtedness � herefiy secured anH � may be in- � �� � � � �
<br /> eluded in any decree forazclosing this murtga};e and be paid out of the ren4s or proceeds of sak:� of said prenii;es � it not nchenvise """ � . � � � . � .
<br /> , . pai[i; that it shall not be obligatory uj�n the Mortgagc.e� to inquire intu t.he validity o( any lien. encumbrances, ur claim in ad- , �. . � . �
<br /> � � � vancing moneys�. as abwe authvrized,. but nuttiing � herein contained shall 6e ennstrued as . requiring. the Myrtgager, ta. adv3nce any ' . � � . � ' �.
<br /> � moneys� for eny such pur}wse nor tu do any act hereunder; and that Mortgugee� shatl nol . incur. any personal� Iiability becau::.e of any- .. � � � � � � � .
<br /> � � thing� it ,may. do or omit to d� hereunder. . . � � . � . . . , � . . � � � . . � �
<br /> �. In the event of the defauit by Mortgagor. in ehe puyment of any installment, as� reyuired by the Note secured hereby, or �. , . . �
<br /> : � . . � � in the performunce of the abligation in this mortgage ur in thc note secured thereby, the Martga�ee shalt be F�ntitied to dectare the� . . � . � �
<br /> � . .� debt secured hereb}� due and payable without notice, an.d. the b4ortgagee sha11 be rntitied at its optiw�, witho� t n<>tice, either by iteelf � � � �. � .
<br /> . ar bya receiver to be appointed by the court tfiereot, and without regard to the adequacy of any security fe>r � tt�e indebterdneas se- � � �
<br /> � � cure�l hereby. tq enter iip��n ;�nd take �+nsress'ion� bf thw mortgc�gc+<1� premisea, and tn collect and � rrceivr thn � r.>nb �asues or_d. �prnfits � � .
<br /> � thereof,� and� apply the same, :less costs uf o��eration and collection, upon the �� indebtedne:as � secured � by this mcirtgage; sairl � rents, � � � � �
<br /> � . issues��and profifs� t�eing�hereby �assignc:d� to ��the � Mortgagee ae �further securify for the � payment of all indebtedness�secured � herehy. � � . . � � � . .
<br /> . ; � . Thr Mortgagee s�hall have the power to appoint any agent or agents it may desire for the purpase of rrpairing said prem• � �
<br /> . ises; renting the� samr; eqllecting� the rents, revrnuey and incutne, tutd it rnay pay out of said incume all expenses incurred in rent- � r, »�,, � ^ '�- .r� ; :
<br /> � � + � ing and managing Lhe same and of collecting the rentals therefrom.� The hatance ra�maining. if any, thell ha� npplied towar�3 the ' _"� � - ,� '�- . : . � �`, � ��
<br /> ' � � � . �discharge of . the mortgage indebtiedness. This � assignmenl is to terminate and becomc• null and void upon relrri.e uf this mortgage. �� � � ��"-,";' � � �
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