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<br /> � 77- UO � � Q2 �
<br /> THE MORTGAGOR FUftTHER . COVENANTS AND ' AGREES: - " �
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<br /> , � � That �he Mvrtgagor:� will pay �the indehtedneas as:"hereinbefore proyided. :� . . . � � � � � � � . . � . � � � � � .. �
<br /> ' � � That Lhe Mortgagor �is the owner. �of said prvperty in . fee simple n»d has ��gootl riE;.hl and lawful authorih� tq s�ll and � �
<br /> � ' �� � tonvey the. �s�me a�d�.that the san7 i� fzeP ar�d eJear p[ any lien or . egcumUrancp; �and � that� Mortgagor wifl warranL � and dc:fend �� the �� ' ' � �
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<br /> .title ta .ssid � premises aqainst� tthe clai}ais ot all :pensons �whpmyoever. � � . � . �
<br /> I .�� , Tn � �ay,^ immedietely �vhen �lue and payahle e11 general taxes, s�ariak�� taxes, ,.sp��cia1 asscrs�ments,- w•ater ch�arges, sewer serv�� .
<br /> , : iee��chargcs;� 'nnd other tsxe�- nnd char6es against said 4xaperty, and�. all t:�xes � le�vicd � on thc del�l securrd l7ereby, �. ancl tt> durnis}3 ihe �
<br /> �Mprtgugee,.: upon seqta.�;vt, with �the :o�-iginat a.� , dur�licate �;ceceipts , therefur. :The� �� Mvrtgagor� a.gr`ees� that Lherc� � skzall 2�e addrd , to. � :�.
<br /> ; eath montPily payment rec�utrecl hereunder ur aricler` t6e evicii�nee of debt scuvre�i herr.by a��i amuunt eskimeted� hy tVic M<>rtgasee � :
<br /> ^` to �be suffi[ i.ent '4o '�nabie, the";�MdrtSabee to F>ay; � as they � k>ecornc ciue, n1T �: taX�'.v, a�uessmenl5. anei similar chacges upon kh� ryrem� . � �
<br /> ' ise5�� st:bject ''thetc•lo;'aziy deficie.tic�y �bec3une of "tKe insufTicir-ncy of"' �uch' �:i�321itiorial � tiaymtanKs shalt ha� forthwitH` � <lepositrtl� � by thr �"
<br /> ; Mortgagor �yitii the .MqrLF;agee �ex>n . iicmatnd .. by � thr Morigagec;. Any. r;ets�ult� un<ie�r thih , paragraph s}�;j � 3 he rler�mr�d � a c1k>fault in
<br /> = � '��� payment of���taxe,, as;.essmr.nis, or simil.�r � cf�argA� required here��nder. - - �� � ���-�� �
<br /> � The���. M�rl�agor agreah , thr�t ��t,here ' shaJl �. also be : adde<7 te� ,e;ich rnonthly �ayrr�ent �>f . prtii<apsl and i�iteretit required h4te- . �
<br /> � unS3er r�n amounCes4ima(.�c4 by the Mortgagee to bc sufficierit. t� e. n:able W��c+ . Mort�agee to pay, � a�. it f�eaumrs due, the� ' insurrsnce � � �
<br /> ° � . �, �mSun� �n �.any insurance poPicy <lelivered tn tlie B-.Sorkgager. Any �eficiomcy ber.aasc of the insufficie�3ey o! � sucfi, a��ditiona! „��ay - � �
<br /> prc
<br /> ments shafl � Fie torihiti•itli depnsited � by the Mnrtgstgar �vith� the Mqrtgagee �ut>un dcmaizrl hy � tha:� Mortbagee. Any defautt unc3ei• this �. � � �
<br /> : � �,� :� paragrsph shall. be ?lcs�med ra dv�fault in the paymrnt of' insurance'prr. miurri:i lf 1he pnlicy �� i>r � �i«liciee rlenosite�d are srar_h � ��'s fttirnr-"�� � ' �
<br /> : av;•ners �o 'r al( risk potiaies. � and tkic deF�osiic are i�3au17icirnt to prny tbe e�ii.irc pr.=iniur», the i�4ort.�;;��;ee mau• apj,7y i�hc de�o�it t�
<br /> � � � � . � pay premiums on� risks required. to Eic insvied Iay this mnrlqag�e. � � � � �
<br /> Paymt:nts � mat9e � f>y Lhe b4urtgagor . und�r. t.}yE, Fiypve p:ert,� [; rap}�y rrxay , at tha; optiori r>f thc Ivforf�;.age�ae�, ho hrVd � hy � i[ and
<br /> curnmingled with � othFrr suc:h Eunds �ir i [s own funcls for the paya� rn4� of euch iterny, an�l unlil sra ap��lied , such paymr' nGs are hekeby
<br /> . . . placlq -rd es security for the mipaid �b�lEinre o(�- thr murtgage �sndet�tedness. � . . - � .. . � .
<br /> i .; . , : � . . . , . .. . . . . . . . . . : .
<br /> �' i� �� � � .. � '.Pa �re�cure, d�aiiver to, :and maintasn for the henefit o( fhe . rS��rLgagee during tk�e �. life Kaf this mort �„age ori�;inal r�ulicrir•s and � � � �:'��
<br /> - ` � � renewttls ��therecaf, c3elivt� rcd � elt Ir�ast ten iii�ys beton the c�z �:.ir� 6Fon c�f <<nY �n� emount� c val�� ta tlr� indebiedneav� securednE.iy � 4hi�` �. . .�� . ,,..
<br /> � � hazarde,�. cfisualtiea, and contirxgencies as the IvfocL�,agee �n�ay requsre, �n �q S . .. �
<br /> M '% � M�rtgabe, and in c.arnp�nirs ,jacepl.nbfe� t.0 ttie tblort _„agec, wit.h ic,ss payable ciause irz favor of and ir� fnrm acceptablr to Lhe hlorfga- � . . �� .
<br /> ` � �, geet. In the � evarnC any Fyalicy is not r�raewed un or ir.ofore t��.r� days of iLv ex�sireti<�n , tho Marfg:age�c may y3mcure insurance �n� tfa� . .
<br /> � �imprc�veme�ats, �pay the {>re�mium Lherefc>r, ancl auc.h �urn shca ❑ heco�x�e immeadiately du� and �-�ayal,rle .vith inter�sd. at the rate sarf .
<br /> �� � � � [orth in said note unlii �:iaid � �nd sh:a11 !x• xecured by l.his mun.i;age- T'ailux.r nn � he pas! i�if tt�e• 1loriga6or todurnish . such renew�e]s .
<br /> . as � are�� hr•rein ret�uired ur (ailure. to Pay any sums ssrivanr. ed hereundc:r sh.all , at the c�pticzn of the Mortgagtr; constifutr 3 <le(auh .
<br /> � � �� . -- «nder . the. terms of � fhis mortgage. 'I'he r7elivery of such pulici<•s sb:ail , iri ther cvent. of �:e(.�iult, cnnstitufe an assignment oi the vn- ��; .
<br /> � . . earned premium. � . . . � . . . �: � � . . ..
<br /> : �� � � � An,y � sun�is received by the . Murtgance t�.y reasun of I<�ss or damage in,ured ugainst maY be retained by th�- :�? ortgagee.. � ��
<br /> � ' and . applied �toward tt+e paymcnt i�f t}�F debt Picreby seciirc:?d , or, at the o�ition of the Mnrtg;aKee, such si�ms either wholly ur in
<br /> � � �part may be paid over Co thor A9orf�agor to kre ❑sr8 to :epn � r surh birJdizgs or to build ' ne�v buildings irs thr�ir placr or � for �any . .
<br /> u�her �urpnse � ur: oUjeat sati:sfucEary to tF�e 1lurtga�ca withoz�t . afTecCiog the )ien cn�� thr� martgage For .the fiall aznount securcd here- . � � . �
<br /> " i �' � bg bafure such payme�at ever tr�k ptace. . . � � . � � �� �
<br /> : �: � � . . To Promptly�. repair, rc�sture ur rebuild any b�iildin�s or i:nprovements now ur hereatter on the prcmises which may � be- � � .
<br /> �, � �, � � . come damaged v{destroycd ; lo keep said premises in good c:ondition and ;cpair and frce trons any mechanic'a� lien or otlxer lien or � �
<br /> , � :- � cluim of' lien n�t expressly sulx�rdinated to the lie.n hereof; nui. tca suf!'er or pe•rmit any unlawf�l use of or any nuisrince to exist, on
<br /> . uaid properly nor to perrz�it waste vn said yremises, nor to do any other act w�h<:rrby thr property hereby .conveyecl shal ! f�ece�me. � � � � �
<br /> � .. � � less valuab3e, � nur to iJiminish or impair its value by any uct ur omis.:icm to act�, to curnply with :�rll reryuirements of law with� respect � �
<br /> � � � to the mortra ed remisea � and ihe � use thereoL � �
<br /> .. . . - . . . . . 4, K P . . � . � . . . �
<br /> ` � � � � � � That r�`noulil � ihe premises or un � � .
<br /> y i�arL thereof tx� tak.en ur damxgec! by reasan of uny public imF�rovetnent ur con�fet.nn�ticin
<br /> � �� �, prnceedinq, �� or� under the right of eminent dc,inain, or in anu o{hr, r m�nner, thc D4ori�agee shall tre entitled to aIl compensai.iona: � �� � �
<br /> , � �� � � xwatds, � and ar.q . other payment : or relief thercfoz; aqd �shall be. . entitled, at ifs -opt.icin; ta 'comme.nce,� �appear � itf and � pro�secute � in �i4s � . �
<br /> ' �own � name � any� action �or prweedin6. ur tQ make xny compromisr. or settlement in conncctir>n with such taking c;r .damage. Al! such . . . � .
<br /> compensafion; awatds.- damAKes. � xight�� of� �act.iori� and �proceeds� are � hereby . assignrcl Lo �the �Mortgagee, � �who � msy: atter ' decducting. � �� �
<br /> themfrotn . ali�� �it,�t �ezpenses, release . any n�oneys-sareceived � by� iE or � apply � the same un any indebtednese secured here6y: :1'he Mort• r �. .
<br /> g¢gor agrecs. ; to ; ezecute : such. further as.signments qf any compensation, tiwards, damuges, :and. right�s n( act.ion. ancl groceedF as the � � , �.� �
<br /> ' . IVxortgagee ���maY�. requira . . . � . . . . . . � . . . . . . . . . . � . � . � .. . . �.
<br /> � � _ Thal �in case of tnilure to perform any of the wvenants hemin, thr Martga�ee.� may do � on the Mortgagor's � t�e}�alf everi�thing � - � . � � .
<br /> � ��. . . . . . . , �..x'.
<br /> � : , so covenante¢; . that the . Mortgagee may .also do any act �t may deem nc:cessary to protect Lfie Iien therr.:of: that the Mnrtgagor will .,. � � � .
<br /> repay upon � demand � any �moneys paid �oY i9isbursed � by the Mo�tgagee� �Cor� any � o( !6e above purposes�, and such moneys toget6er with � � „� � � � - :
<br /> ' ., � interest thereon at . Ehe rate ��providr.d � in���said note sh.al.l become so much� �tlrlitional indebtedness �here6y � sc:curt•d ' aad � may � I�e in- � � " " . � . � .. �
<br /> j ' � . � cluded � in �any � decree � foreclosing this. mortgage and be .�aid out of the renis nr proceecls of sale of � said 7�rnmises if� not 'ov4erwise � . � �� � �
<br /> � � . �P�d; that �it � ahall not be obligatory upon the � Mortgagee to inyuim intu the validit.y ot any lien, e.ncumbrances, or claim in ad• � � � . � � . �
<br /> . vatecing� moneys as�:atwve��.authorized. bntnothing� herein contained shall . be � oanstrued . .as:,requiring����the , �.Mprtgagee. �:Yu advance any � "" .� � . �
<br /> moneys for�nny such �purpoAe nor to� do� any aCt hereunder; and �that Mortgagee shatl. nc+t incur�..any peis�nat tiability�� becausc� ,ot any - � � . � � , � � .
<br /> �. thi�ng it may dn or;�mit to dv hereunder.�� . , . � � � � � . � . � . � . � � � � �
<br /> ' � ' In �the event cif the detauit by . �Murtgr�gar. .in �Uie payment at. any installmen4, as reyuired by � thv :�`oter sr.currci hereby.. . or . � ..
<br /> � � � in �the �performance� of the � ohligation in this mortgage oi in the note secured the�eby, the Martgagee shalt be eniiUed t� � declare the � � . � . � �
<br /> ' • �� debxysecured heaeby due and paya6te wikhaut notice, and the Mortgasee shall, be ent.itled at its . option, without notice, either. by iL�etf - . . � � � � �
<br /> � or by a receiver to be .appUinferl by the �court thireof, and �without regnrd to. the adequacy oC ��any security fnr ther ��indebiedness se� . . . � � �� � � .
<br /> � � � � curwcl hereby; to enter : upon �Hnd take ' pos�essi�n'� of the mortRa�d � premisew,� and tb collect�and � receive the rents. issuex � and profits � � � �� � � � �
<br /> � � thcreef ' y:n3�' ap;.!p the � csrnc; �es< cnsts � ef .j+er�t+.i>n � and �e<;1! retior., vp�r. t?�:e �� �r.de!.t:d .^.css sc.ui�ee? hy � t!i : m� �.. t.esgn, � ss?;? icn !s. � . . . .
<br /> ' ' � iaaueg and profits b�in�' hereby`assiRned'tn thP Marl.gagee�as �further '�^uritiy� ('or the paymenYaf all indebtedness srcured hereFsy. � " ' . � � �
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<br /> � ; . �. � � The �Mortgagee shall. have the � power to appoint any agen! nr agcnts � it mxy drsirP for �the purp�e of repairing said Prem - � . .� . � �
<br /> � � isest��. �renGng � the same: co,llecting the.: renta. � revenue�s . and income, and it .may . pay �outuf raid incume all . exnenses incurred .ia renb . � . t , .
<br /> { mg ��and managing the' same �and of coll 'eMing t6e rentals � theret rom. The balance remaining, if � any, shall be applied toward the . � �
<br /> � , � g . ,gag ' s. This asaignment ic to terminnte� anri Fwrnme null and void upon reiedsP of this mortgaRe. � � . , �" ��. ,�.
<br /> dischar e �� of the mort e mdebtednFs
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