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<br /> T�fE MORTGAGOR FUftTHER COVENANTS AND AGREES : . > •. , � � ` "
<br /> � � � � �� � That Lhe �..Mortgagor � will pay� -the indet�tednessas hereinbcfore ixoyided . �� � � � _ � � � � �
<br /> � � That the Mortga�a��, is �the dwper of- said �5roperty � in fee �simple � ��and � has goix3 � righ2 ancl law[ul authority Yo seli and � . � � ...�.,
<br /> �. . ctrnvey the same an�i ihat the same isi#ree and c�ear ot � any lien or � ancurnbrancce ; ancl. � that � Martgngr,c will warrant and defend the : . �
<br /> � ' title � to � said �remises aga5ns4� t�e� clgjms af alC'�-persoris '�.w}���yoeven � � � � . .
<br /> � To pa}r :irnrn�diately ''�whemdue and 'qiayabfe all� general tlxes, s�eciel �taxe.s„ sNecir�! as.se-�,sments, water charges; � sewer serv- �-
<br /> i :� ice charger:a, aad . tiLhei taxes ,and charges agains,t said pro{�erty , and all iaxns IErvied� �on the . deht smcurvd heref�y, and to Surnisl� th� �
<br /> ' � MorYgageee uppn .requeat, wit11 -t3u�,� cirigii�l c�,r ,jd34plieaY� reeeipLs t}� cre(cir. . 1'he Mc>rt�agor a �ta-es � that there shall be � � 'addvd : tQ � � �
<br /> � �each monthly payment requimd here.undet or iukdcr thv. evidesnce cif deht secured hare6y xn amuunt eslimated by ttre Mortgagee� �
<br /> , �: �� to be suffici�nt t4' �ee}Able .,thG i�loxtgagCe . tn� j�ay, as � they � bectime � duc . &ll :� faxe3, assnssments, and � sitsailur charges upon -: the prem- . ' �:���
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<br /> z5es subject theieto; ��Hny ' c�efi.ciency !�t'aiise �i�f th� iiiaufEii�icnii}+ of � sucti � �adclititiiial . {aayinenis � � 5tznit � . lie furthwilh - dc•posited My Lhe � .
<br /> Mortga�or: witla thc MorSgagee upon�� � de�n�nd t�y the blort�iagee, . Any default. urrder this . paragrepl� shall Lx; � derrmed� a � �lefaatt .in
<br /> ' �; ' ' �uymertt of taxes, �ass�as:;meri�s, or sirnilar charges�-requirrd hereunder. � �� � � � � � � � � - � � �
<br /> � ;' Ttie Mvrtt;a�ryr agreea ihat �there � sbaq, alno L'x: . ade3ed ;t'n ettch � rn�nilily WAyn�erd. �ci( ssrinaq�st � and inte�re:.t rr.qviXvcD here- �. .
<br /> ' �'! � � uncler an aruouzit � estimatlid by the M« rtgagee to bie si�<:ie�nt to ercable fhe Mcut;;af;ee to pay , as it becomrs due , � Ghe. insur�nce `��
<br /> � �. ` nremium r.n any �insvrance ; ,�>olicy detivered .to tl�e Murtgagc+e . Aaiy � deficiency bacauso ��f thr, ins��fficiency of � sut}A � additinq.al pay • � � �
<br /> ` ` � nxr.nfs �:sha31 he £ottkiwlf} � depiw�ted by �� the Martga�iir w�itii the �1VIortgagcw � uPnn .rlrmand by thie � '�lcirttiagee . Any <lefault ��vhcler � thes . �
<br /> -� . � par�graph � �hfl12� be dcem<r�l a ilefault. in t.he paymenC tiE in�:israncr - T>rcir.iunSs�: if thr� pr�lii'y �iir � �iolicies c3� pnsilyd � �arr suc}� �,g M>mef - � �
<br /> .. � �oWnen � oC all � tisk palicies, and the deposit�; are insUffiCient to pt3y ih �� c�n [.ire pr.-mium. thr, Mc��rt�;�{;re may :� pt�ly the deposi't to : �
<br /> � . �. .. pay �irezniums qn risks re<yuirird � to tre insured i7y this nu�rt�;ago. . . � . � � � � �
<br /> . . � . f'aymenLti macie l�y � the Mortgagor . under thr above paragr:� {>}ts nraY. at th��� . opi.ion <�I . lhc� hlortqa�;e'e. , !�e . h<�{rf � � by it. and �
<br /> �` . �� co[nmingle<i with othPr such lunds �or. � its: �iwn funrlx for� the �y>Nymenl of sudi itema , and unYil sz� �a���pGed . Fuch �payments are h�rreby � � �
<br /> � . �E�lerlh�d � aa � ser..urity for thc uxrpaid balance of thc inortt; aK�> indcbtednesc. � � � � . .
<br /> . � . To . pre�curc. deli �<� r to , niid n�i::iintuin for the bcn:-� fit nl' the Mori.gagee durir�E; t.he tife � of this �nur[b3Ke uriginal. Policies and .
<br /> . � renewals t]'rereof, delivc�red at le=ast tc�rx cir�ys � bcrfore ll�e c^ z �� iration �f :eny such 7��oliciev, inauring � gainst fire . and other ins� ra}�le �
<br /> � � haiards, casuallics, and contingencies aa the Moat�;agec m.ty � require�, En an amount rqual to the� indebtednee:s 'sc:cured by this
<br /> � � 2vTvrtgagr. , .and� in c�m�ianies acc'eptable to the MnrL�, ap;re, with loss p3yable clause in favor of anr3 in torm a^ceptahle 2o ihe !�4urtga- � . ,
<br /> � � gee. Tn the evenC any� pcslicy is not rcnewer�l on or before t�� n days uf i :s exl�irat.ion , the MortgaK��e may procurc� insiiranc�c� on the� �
<br /> � . improvements, puy th�� premium Lberefor, unA such surn shall bErcome irrunediafely c3ue ar.d paya6le . witii interest at. ttie rute� set � �
<br /> forEh in said � note unk�.il pai <I and �»hall be secure•d bY t.his �n :ntgxge. Puiiure on the part of I.h.t� 1lnrtgagor � to furnish suc1�� renewalv
<br /> a.s are he�ein . required i� r f� ilUr� to pxy any sums advanceel Faareim�iNr sFiu11 , ai the upti<'�n of tiw blort�aKee, c�.� nstit �it� a drfault . - . �
<br /> under 4he �terms of this � mnrtgaKc* Thc � detivery i>( such }auiiciev shall , ii7 the e�vent. of default, constitute an as,ignmc�nt nf the. nn - .
<br /> enrneci � }zremium: . � � : �
<br /> . . � � . . � Any sumy �eceived � by the Mortgagee by reasun czf I��ss or dt:�in �age insur��d againsi may be retainrc! by thc Murtgagee
<br /> and applied f�owerd . the payment af Lhe debt hereby se•cured , cyr , nt Lhe opLion of thh Murt�aKee, eurh sums either wholly ur in .
<br /> � ryart may be paid qver t.o the Mottga�„ or to be used to mpaiir such buii <# ings or to build ' new buildings in fheir place or fnr any .
<br /> � other � purpose c� t ot»ect saY�isfactory te� the bfurtgeg��r, w'ithcut allectinF; the lien un the miorl�age fnr iPie full umount sr.- tlured iiere , �
<br /> . . by F�fwe such puyment ever took plr�ce. � � � � �
<br /> � T�� � promptly repair, resture or rebuild any t:�uildin�;s or imprnvemenbs now �ur hereafter on the premises which may he -
<br /> � come damaged � or destroyed ; to keep said premises in g<x>d condition anrl repair and Cree from any mechania's li<rn or other lien o �
<br /> � � claim of lien not � expressly subore9inated to t.}re Lien tiereaf : not to sufter ar permit any unlawful use ot or any ❑uisance to exist. on
<br /> � � � said praperty nor to Faermit � waste an said premises , nor to rlo any other eact whereby the pronerty hereby com•eyed shull ixcome . . � � � .
<br /> � � IeEs vnluable, nor to diminish or impair itv vzlue by � ny act or omi :;sion to acl ; to crnnply w� ith aIl rcyuirements uf law with respect .
<br /> � to the morlgaged premises and the i�se thereoL � � � � � �
<br /> � � � That should � thc Premises or any Part theraut be take�i or darnaged by reasc� n ut any ��ubtic irr� provtrmenl or cunderrnnation . � �
<br /> � 1 �� .. pr�xeeding.. or �unc3et the rightof eminc:r�t doni3in . t�r in any other marincr, the Mortgagee shail be antitled to . all compensati�na, �
<br /> � awards, and any othe� payment or relie( therefvr, and shaii' be . entitled, �af. � its opt.ian , }� �ommencel - appear in �.and � �proesecute �in its� � � � �
<br /> �. own � naine nny . action vr � proceeding, ar to make any c�mpromisc or setllement in conncction w� ith such taking nr dam�ga �All such � � � -
<br /> � . compensstion, �awa�de. �: damages.� aight oE :action and� � �� roceeds are herekry� assigned to � the Murtgagee, � who � rr�ayr �after- deducting � , �
<br /> � � �therefrom 'a1L�� iis � esPenaes, �releaseany �moneys �so �received . by � it � or . apply the same �an � any � indebtedne.v �secured 3�ercby . .The Mqrt- � � . � � � �
<br /> �.agor �.agrees to . execute � such . further assignments . uf � any � cornpenkation. � awards, damages, anci righLs of acfion� and Rrocec�d5 as the . � �
<br /> . ��MortgaguezmaY� � reRuire . . � � � � . . . . . . ' � � . . . � . . . � � �
<br /> � � �. �That in case of . failurc to perform any of thc covenants hcra� in . � the Mortgagee maY do on the � Mortga�;or's behalf everything � � . � �
<br /> . so � eovenanteti,; that .t}�e MorCgagee may aiso do any uct it may deem i . cesu+ ry [u protect the li <n thereof: thal the 2oiortqagor will � � � . � .
<br /> " � � � � � � repay upon demand anv moneys paid � � or di;;buised � by the Mo�tgagee forany ' of the above� pur{�cnes�, and vvch moneys. tnget6ec. �w•ith
<br /> �� interesf` �thereon� ��at � the rate�� prmided � i-n said ��note ahull becanie so much� � additional � indebteciness� hereby �sa�cared � and ' may �� he in- �� � . � � . �
<br /> � ; : . cluded � in any decree Forcclosing this morigage and be paid out of the rents. or proceeds � ot �sale of � said � {�remises � it � not oLherwise � -.�- � . . �
<br /> � . paid ; that it shall. nat . be obligatury upon the Mortgagee to inquire. into the . vulidity of any lien , encumbrances , or clann in ed - � � � - .
<br /> � vancing �moneys �:es � above .authorized; but � nothing herein . contained. shat6 � be construeA �as rc�c� uiring the MorCK++Kee . to advance any � . �. �
<br /> ' ` � moneys�. fnr, eny �such purpnse t�or lo �do any. aCt hereurtder: and that. Mo.rigagee shall rnrt inwr any per�c>nal liabilify Iwcause oG any- � ' � .
<br /> � � thing it may do onqmit to do�. hereunder. . . . . � � . . . . . � � . � - � � � . - �� � � � �
<br /> ,� � � In the event of ihe � default by Mortgagor m the � yayment � ot any � inAtaltment , as reyuired by � tht• Note serurPd� hereby, or � � '� � � �� � �
<br /> � � in the performance� ot the obligaEion �in this� mortgage � or in � the �note � secured thereby, the Mortgagee sha❑ be entitled to d�•clare the � � , . ' � �
<br /> � deUt aecuiced hereb duc anrl . a able wilho ,ut notitt, and ,. the Mqrtgagee shalt be entitled at its option, withnut noEi�e, either hy ikself , � � � �
<br /> . Y . ' . . P Y � .
<br /> � . or by � � ieCeiver to be appointed by the caurt . thereof, and without regard to the adequacy .of any � securiYy for ��the indebtedneas se - � . � � �
<br /> ' � , . � � cured heYeby, to enter upnn� and take � posS.�ssion of the � mortgaged premise,s�, anrl �to collect and rnceive th� rents , issues� and profits � � � � ��
<br /> , � ��� � � thereot, - � and apply the stune; less c�k4 � vf o��eration end ct�llection , u �wn the � inilet�tr�lnr+s� secureil 6y .� ihis . n�eictbage ; said � rents, � �.. � . . .
<br /> , . . ��, iasues"and profits� being�� hereby�assigned � to the. Mortgagee as Carther secucity Jur the payment of all indebtrdnes.s srcur.xi trerety . � � . . .
<br /> . . � The . Mortgagee shall have the . powe� to aypoint any agent or ugents it may � desi.re tor the purpose of repairing said prem - - � � . � � � � ��
<br /> � � ises; . renting the same; collecting the . rents, revenues and income , an51 it maypay c�ut of said income all expense�; incurrerl in rent • � �� s
<br /> '�� �.ing and managing �,the same� � and of � coilrcting� � the rentals thrr�:f �om The �� balance remaininK. i ! any, shall be� applied taward the � �
<br /> • g ' assignment is to terminate and become null and v�id . upon release of this mortgage. , ,_ , � • '"-, �'�., �
<br /> . . � daschar e � :af the mortgage . indebtedness. This ,. . . . . . . . . . . . . .. . . . . . . . . . , . . , ,, . ,. . ;.,. .. .
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