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<br /> THE . M012TGAGOR EURTHER COVENANT$ AND AGREES: r
<br /> � �� � � � That the �.Mortgegoz wiil � pay : lhe� indebtedness� as �.hereinFxfare ;provided. � � � � � � � � �
<br /> � . . . � . . . � � �. . � � �: .. . . . . . . . . .
<br /> � � � 'I`hat the 'Mor[gagor is the dwner nf said propesty in fer simpte� and has gootl right and lawful aufhoritY � t�� se❑ and � � � . �
<br /> : r �� . convey the same and ' that tlte same is;Pree and �ciear of uny lir.n or encurnbrnnce; and � t5at �Mortgagor wilt warrant . and d��fen¢ , Lhe � �
<br /> ' . ' title to said Premises against the ciaims of all persoru whnms�ever.
<br /> � - � � To pay immediAtely: when �lue and ' payable pll �general taxes, speciai �taxes,. speci�l � zaasc•ssmen�s, w�ter chargres; srwer snrv-� � � �
<br /> iee cht�rges, and otheY taxea. and cliar�,cs ag:a.inst said pmper{y, �nd all Lrx� s 4evic:•d � ma t.he deht sccured her.rby, 3n�1 to furnish fhs; .
<br /> � �Tvlortgage.e, u��n '�reqaesk, with the � onginAl <�r dup(jcate rect>ij�ts Cherefor. . :The Mortgagor at;rees . that � ihere sha11-: be .: addet3 � ta� .��� � -
<br /> ` � each monthly paymrnt re*yqire<i her�r�� nder or undcr lhi�� evici��.nce� uf deE�t serure�! lu�rehy an �matiint estimated� }iy fhc 114ort,g�agee .�
<br /> � � .to be � suEl'icie nt Yo �enablc+. tFse IV,�ortgagee, � to p�y. as they i>ccome due, �al1 taxes; assessmenfv, anrl sirnilar chargrs uyqn the prem - � �
<br /> , � .. ises� su6ject thereto; any �eHciei�ry fie<•ause � bf � the insii�ciei�cy hf� suct3 � additic�iial piaymenls shall he forthwitb �Iepc��sited� �by � Llie .. ,
<br /> . �� hSprtgagar ,with the M,ortgee�ise upun dr�mand Liy thc� ',blurtga�ee�. Any deF� ulf, undvr fhin paragrapli ti}�all i^iF doemed n defauit in
<br /> � . �paymenl. of � t.axes, ati.seusJnents,�� �r � sirnilar� charxes re•quired . harseunder. �� � � � � . � � � � � � � � � � . � � � �� -.
<br /> � . � 'I'ho Moitgagor � agree, that.' Y,here. shzafl nlso �hia added tu each morrtbly ;.iayment n( . i�nr.cipal and 'rnterr:,t reyuirecl here_ � . � .
<br /> � `� ' � unurr a11 S nvi,.n .,a 4 «. ..�.�: b • F.: :!?:�sC�,�..�; •- f[ ! .: . .,.!rC --„+.. f�:, �:• nnbte f.h<• ;�lc�rtgaF;ee to Pa�. a.v it becornn.; due , t:he insurance . .. . . . .
<br /> � �premium . t>n �any �insurarrce� E7uliey de-livcrert tcr the M<rrt��i�ea Any cicficicn..y becaus��; of the insutficiency qf �cch .ac3ditional ��ay- �
<br /> � ; � � . rnenLv sfiiatl �fie Icart}�.T�i�F � �epo;ite�7 �hy the Nlortgxgor w�it.l� the. M <irtfi�iF;i<• uPon rlemanci try� the �Iortgagee . ELny �lefault isndi-r t. his � �. � � �
<br /> �. � paragraph � shait tx. deen�ed a de{auit i❑ � ihr ;�:iyma•nt� i�f insvrance� premiums: � If fhe paiicy or poilci��s (tes>cisifcd� arr-� such as frbrne- � � � �
<br /> � .owners <rr all risk p�iliciesp and t.he deperaii� � a�r� insu/Scient to pssy the enf,ire t� rermiuin, tti -r A'LorLga�ee insny� apply the deepo:�rrt k<� . � .
<br /> -'� � � pnY prnmiums <>n risks required Co br insured Fry Lhis mortgagc. . .
<br /> � Payments mflde by U��e M��ri'.�agor t� ru4rr thr abu� r par<'fgraphs m �y, a1. the o�,tion cf t'tr<� Mortyager, be hedd � hy it and � � �
<br /> . commingled witPv � otFxvr such fonz3s cr its uwn C�.ind�� fnr the puy :v� rnG c,( a;uch items_ anc} antit eo applied, s��ch payment> are_ herrby .
<br /> � plcd�Fd as sec�triYy for LFie �rnpasd balance of th�• rnortgati� indetr[���'3raesv. . � � � .
<br /> . . � To procure, rlciiver t<:, and mainlairi fur t6e h<•nufit of tl�c�� Mo : tga;;a�ar durint3 tli�� life of this mortgage uriginal policias and� . � .
<br /> '� '� � reuewaFs tl�er�.�>[, delire� erd 'at lesst t<�n daps txrfqre ifie cx �siraci��n of arcy s+.icl�� poliuec_ 3nauring against tire and o44xpr ir�surahle � " � �.
<br /> . . hnzards, cetsualties, x»d contingencir� as lhe Mnrtgagee mny require, in an amount e�.;ua] to ttie indcbtedncss secured by this � , � � �
<br /> � Mortga�6, aii8 iia compani�s uccept� k,le tri tl;a 1da�rtgagr<•. «-ith ?as� p�nyahir clau�r in fjv.-a uf arni iei fc�rrn accarptable to the Moctg�x- : � � � .. � ,
<br /> . ��. . gee. Fn the cvent any {>r�licy is nut renrwud uzi ur bafe�rc S�-n �layc cf its esy�,iirat.ion , the Mort „. age•e m3y 7, roc:ure Snsurarice on ihe � . � .
<br /> � � imprvvem:.rnts, pay the y-xc�niiuin f.horefor, aitr4 such surt; �hrall hecur:ie irr, nxei9i� t��ly �iue- and p:ayat>Itr w-ith inYerest. ui� the ratc� set � � � � �
<br /> focth it� s:�sid nvte until Fravd z�ne1 �;hrtll br vecured by- thlw uiort�;�ag��. �Fail �� re on the part. pf the Mort�g3gor to fi.� xnish auch renrwAls . � . �
<br /> � as tire herein rc�uira+d ur fr�ilure to Eaay xny sums adv.enced hrra�unri�• r st�a11 , aY. lh<• of..�tiun oC Lhe Ivlortgagee. runstitute a default � . . � � � ..
<br /> under the trrms of thia m�7rt�u�,�e_ T�hr, elFlivery uC �iuh puG�. ip:� ShuiS , in tl�ie event r>f defrault, cooctif.uta xn ai.�.�iK«n�ent �t I.hc un- � ..
<br /> . � � earned premium. � � �
<br /> . � Any Numv rrcei�'ed by ihe �.9u . iguq�c� by rn�son ot toa.v ur d •axnrxge insure<! agyinst rnay he reinined by the Mortgagea � � � . � �
<br /> . arxd mp(ili�c3 {.oward th<r �>ayment ui t}�ir drbt her�-by secun�d. �, r, at th.= optior-i af tht- Mc�rcgaKee, suCFi �wrr�a either wholly� or in . . �
<br /> � parL rnfly !�e paid nver to t6e M ��rrtgz�gor to be. usr<I to r��pair .cuch buitdings or tn buil�l ' n,cr�v bui ]dings i ❑ tf-�cir piace or for any , � � . � .
<br /> oYlter pw•poce br ob�et.t wtisfactory to the AQ � ,�rt�agce �vitizont a!{e^ctin�; th<• livn on iha Ynnrlgage for the ful ! anu+iant secured here- �
<br /> by befure such Payment evver t�x>k place. . � � � � �
<br /> � � � To prumptly repair, rrstote �,�r rebuild an,v buildings �� t improvnmenfs nnw� ur herrafter on the premises which may be- � . . . . -
<br /> : � come dainaged or dest.royecl ; to kceap sai�3 preznises in SrH���l cnndition araci repair and frc<� from any mrrhxnic's lien or other lien <>r � � �
<br /> . claim nf lien not expressty suhordinatr-d to ihe licn h<^rcao(; not to suRer or p�� rmit an}� anlawfut use of or �n� nuisance [n exist on � -� �
<br /> ±said property nor !.o permit waste on s8.id premisrs, nur ( o do any nther uct wherFhy ttae prop.'•rty her�tby conw�yed shall become � . � � � �
<br /> � less valuabte. nor t.o diminish or ir.iF>:air iL.� valuir hY �+: y act �u �rtnis;s� un t.�, ,ict �. to c��n� ��ty with all rs•quiremenfs uf law with res�>ect � . � .
<br /> to the rnorignged premises and the use thereof_ � � �
<br /> . That should the Pr<<}��scs or any parl Yhereo[ !x� t.:ake•n or damaged hy reasun a�f an�� puUiic impraverment or condemnation � � � �
<br /> � � proceeding, or under the right o( e.�minent dumain , � �r in any other mannE-r, the• Mnrtgagec s}�a�i be entilled to all compensntinns,� � . . . �
<br /> '� � uwards, and eny other P�yment ar relief thercfor, and shall be eretitled, at it.s option, to commence, uppear in and pr�ecute in its � � � � . .
<br /> own name any action or proceeding, ur to rnake any compromise or scttlen,rnt. in conncction with such taking or riamaga All. such � � � � �
<br /> � comEx:nsation, awarde; damages, right . of scti�n and procee�ls are hereby assigned to the Martgagee, who may, aftee deduct.ing � � . � . � �
<br /> � thecefrom all� its expenycs, release. any moneys so receivcd by it or apply the same on any indebledness secured hereby. The MorL � � � � � . �
<br /> gagor agrees ta execute such further assignmenL� of any eompensation, aw:ards, c3amxges, and rig}�ts ot actiun and procerJs as thr,• � � � � �
<br /> � � . MortgaRee may require. � . . � � . �. . . �
<br /> �. � � � � That in case uf faiture ta perforrn any of the covenants herein . t,hr Mortgagc•e may du on the Mortgagor's behalf everything �, .. �� � .
<br /> ; so covenanted; that the Murigagee may also do any act it may deem ncn:rssary to protec:t the lien t.herE+oE that the Morfgagor wi❑ _ ,. � . . � . �. .
<br /> � repay upon demand any' moneys paid or disbursed by the Mvrtgagee for any o[ the abo��e �iurposes, and such moneys togel.ficr with . �� . .
<br /> � � � � interest thereon at the rate p�ovided in said notc: shall become so much udditinnal indabtrdness herehy securerl and rnay be in- - � �
<br /> � eluded in any deeree foreclosing Lhis m<�rtgage and be paid out: of the m-ntx or procr�cds of sale of said �>remiacs . if not oeherwise � . �� � � . � � � .
<br /> � ; � paid; that it shall not be obligatory upon the Mortgagee to inquire into the validity nf ar»- lien, encumbrances, nr claim in ad- �.." � � �� . �� � �
<br /> �. vancing moneys as above authorized, but nothing herein contained shall be cans-trued as rc�7uiring the Mortgagee to. advance any � ���-' � � �
<br /> � � moneys for any such. pur{wse nor tV do any act hereunder; and that Mortgagee shat! not incur any Personat liability becautie o( any- � � �
<br /> . thinq� it may do. nr omit to do hereunder. � . . . . . � � � � .
<br /> , . � In the event o[ the default by Murtgagor in the payment uf any installment, as requircd by the Note sccured hemby, or � � � �
<br /> _ , in the performance of the. abligation in � th4s mortgage or in the note urured thereby, the Mort�aKE'e shall b<: entitled tn declare the � � �
<br /> � � � debt secured hereby . due and pa.vaUle without nutice, and the Mortgagee shait be entitled at its uption, without notice, either by 9tse1( � �
<br /> � � � � . or by a- 7eceiver Yn 5e 'app<iinted by the � court thereqf, and�� H•ithovt rega=c3 to the adequacy o£ � any � securitS' fnr the indebtedncas se - � � � �
<br /> curec2 hereby. W �ttfet� upuu :aud Lni:e pua'strssii�n uI Lhr � tnurtgagril preutisus. a��d Qo c�i2e.;t �nu rec.eivr Che rrriC>, itisues anti prui�ta .
<br /> � � � . � there[Yf,� �und - xpply the same; .less costs o[ tiperation �nd collection, upon fhe indebtedness secured � by this murtgaqej said rents, �� � . . .
<br /> � � iscues and� �profiLs� being" herehy�.asEigned�� ta the� Mortgagee� as forther security for the payment of alI indebtedness securi*d hereby . � � �
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<br /> . - � The Mortgagee shalt have lhe power to appoint any agent or agents it may desire for the purpuse oC repairing said prem- � � � , �. . �, �y � �
<br /> � ises; .renting� khe same; . cotiecting the rents, reve�ues and income, and it may pay out of said income all expenses incarrcxi in rent- . _
<br /> �. in� and managing� the� same �� and � of� collecfing the� rentats � therefrom . Ttie balancc remairiing, if � any, shai! h<- appli�d loward thP �{ � tV� ' {:� ' �
<br /> disrharge� of the mortQage indebtedness. This assignme�t ix to terminate and bec�me nuli and void upon release uf this mortgaRe. ' � � " �
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