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<br /> ' TFIE MORTGAGOR FURTHER COVENANTS AND AGREES: ' " ' ' ' ' Y°- `
<br /> � . � � That the `I�ortgagoi will pay the intlebtedness �as �herein#wfore prmided: ��. �: � � � � � � � � � � � � : � � �
<br /> i � � � � � � That the ��Mortgagor is khe awner �[ said property in fee simPle and hzts g�(ic! right and lawful authority to sF�ll and ��� �
<br /> 1 � conveg the same and that the samg is'free an<i -cic•nr of any lien or encurnl�rence; and that :blortgagur wifl a�arrant and detend � thc . � T
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<br /> �� Litle� to said �.p�einises against the claims nf ali person� whoni9oeve�. � � � � � � � " �
<br /> � � � � � � . � Ta pay itAmediatety when rlue and hnyahle a1l- generai � laxc.s, si�cr.ial t�xes, s�crcial �sse5sments, watrr charges, sewer serv- � � . ���-� '
<br /> . ice � chargc:s, and -�:other taxes�� and charges ng�ainsY aaid property , and a! 1 taxes lervird un the� dclrt secured here:try, and to fnrnia:h t.he � - �
<br /> �. Mortgagee, utwn��. .requ<�Y; with t}ie �� ori�iiiat ..at� duplicate recei}�ts !)u*re[or. 'The R4�>rtgagor agrees "that Lharre � shatl bc adcle�i �fo � . � �
<br /> �� � . � � each � monthly payrnent r.•c� uired hrreun�ler or�. uncler thc- evidencr• bf �rleFit secured h�rcby an :unount estimated hv. the Mortgagee � �
<br /> , � � ta be sdfficiE�nk to;��nAble � the Mor4Ragee > ta pay, as � thc.y � becerine+ due, all � taxes, tissErssments, anr! ,:imilar c.iargrs � u��wn the � nrem- : � � �
<br /> � ' i'ses subject i}iereio; �� arry � dcfic�ency Bt?rai�sie �i>f Y.he 5nsufficiericy o ! such � additional payrnE,nts shali � be. forthwith �lepusited hy � {�.}i(e� . . . . . .
<br /> � . Mortgagqr w•it}i � thp Murtgagc�e � upon . demand by t}ie �fort �oagec. Arry �!efault unde• r ihis p.zragraph shall bc d��emed a default. in � � � �
<br /> , �. ' . Paymenf�� of tax¢s, avsessments, .. nr � similar r,h:3rgrs reyuisa!ri ht?7eunder: � � � � � � . . � � . � . � . � . . . . .
<br /> : The Mi>rtgagor .agrces that '. thrrr, shall also, be� � addHd fr, c-�ech n�iunthly paynnenL ot pnn��ipal nnd interetit required here-. �. � � �
<br /> ' . � nnder. iu� am<�u�ri rslin��atsd by the Mortgagec I.,.i be sulCicieiit to ei�u�ble th�- M1tortgagra tt> p�y . ae it heco�nes <iue. thc: irisurar�cr„� . . . . . .
<br /> . . premiunx on any insuraiict� polrcy delivcred tn thc• Mr�rlgagc+e. A:iy def:ciency hc�•eause� r,f ihe irevettliciency <if s<roh additionat pay- . .
<br /> menY.v��sh'a❑ �be � furt!'iwith 'depc>sitecl� by� fh<� Murt�agor �witl� thc� ;Nortgap;ce upon �l�mand by � the Morlgat",ee�: � Any 'd�fau2t. iinder t.his � � . � � . � .
<br /> � para�raph s}aall lx de�c.rned a defauU ��itx thc• �r.xYrn�:rnt. o€ insixssncc• premiums. If t.hc+ 7>olicy or poticics drp<:viter! ari., sucl�� as lrome� '.. . .
<br /> , . . <�wners pr al2 ri5k policiE,�s, an<i the .tleF>o;,its ar< insu�cii,�nt to pFiy ti:t> entire prrmiesrn , l2is Mortgage�� m �y up�dy thr depos'rt fn � � .
<br /> � � .� PAy Prerniums un risks require.d to be ir�surevi by thic mort (;arr•. � � �. � � .
<br /> � Payments madc by t.hc Murt.qagur Gxnder the abovr 7>arr3}; r<�p4�s muy, at tfro r, pt.ion u!' the Mortgagmc, he hrld � by it and � �
<br /> � � comnain�led with r,�thac si�ch fat:dR �'�r its o•.vn f� nds f��r thc la�.yinc;nt of sucFa it�rr�a, trt�d iu��til ao appli��cl, such 7�ayrnenEs are hrreF�y � �
<br /> � . . plec'1ged . as sc-.curity for the unpaid balzanec of tf,r morl �;:,gr ind��• hledne.:s � . � � . .
<br /> To . procure, deLiver to, and rri�intain for the^ ben��fit ��f the DQortgaqee r7urfn�; E.he li(e of this mortga�;tr original poLcies eas�d � �
<br /> � renewals thc:rtrof, delivered at least. te�t davs befure the rxpiration uf any suc6 poli< ies, insuring against fire and uth¢ r insuraFde: � � � � �
<br /> � , hazardK, casL,illies, enti cwntinticncieo as thxr R4artgagec> :n;:�y�- require, in an .a,7roe�n4 eqaa! to the indeF,tedness securr.ti by Lhis � � �
<br /> . ibtortp,'age, nnc! in comganS�zs acceptabte �to� �Lh� Mortgagee, wiSh ]uss p;ay�hler clanse ii� f�vur of and irv tonn aceeFytable io t6e• Mortga - � � � � �
<br /> � gee. in the cvf�nt � 8ny riiiticy is not renewud � un �>r � before t.z'en days o! iL�; ext,�iration, tksF• Mort.g;�ag�e inay prox�ure insurance �,n t2ie � . . � �
<br /> . improvernents, ��Hy Lhe pr��inium ttaerefor, at� d such aum ,hal , kiecomtr inun.ediately due und . ��ayabte with interest at th<�• rate srt � � �
<br /> � , � fort$ in said note until paid and shall he secure� t I��y fhis mori„ag«,. I':ailure <�n t.hr r�aa4. of the Mortgagnr [o [urnish such renewals ��
<br /> F� '�, . a�s arc= hc�rein required or Cailus-e to pny any sumx ndvsne��d hr- reundrr vhall, at. th -r crpLion r�f the '�4ortgagee, cunstitute � defaul6 � � �
<br /> � under the ternxa of tYtis mortg�iy;e. 'I'he <lelivvey crf suc}�� �inhc�r� shal �, in the eveqt C�f r. efault , constitut�� an atsignrttent a�( the un- � �
<br /> earneci Prcmium. � � � � � .
<br /> : . . Any sums rrceived by tht• Mortgagre hy roas!; n of luss ur d:�mage insurec! against may be ret.aine�d by ttic Morfgagc•e . . . .. .
<br /> and applied tow8rd thc� Nayrnenf nf the debe tiereb�� secucr� , �r, � 6 the c,ption c�f th�.: Nlortgagee, such surn� efth�r wholly or in � � � �
<br /> parL niaq be paiJ wer to Lht� Mortga�;or to bc �sed f.o repair such btiil�lin�s or t<� build ' new k�uilelings in [ heir Ji[acr or fnr a :zy � � � � . � �
<br /> o � othcr purpoae ur object satisfar.t.ory t<> ih�° :Vlort �a��;re witho �at afieciint; the lien un t.hc �n�xtgage Cor tl'�e [ul! amuunt .vcured hE�rF- � � � � � � � �
<br /> by brfure :�uch payment ever tix>k place. � � � �
<br /> To prompWy repeir. restore or rebuild a�S' fruililGn �v or irnprovernFnLs now ur hFreaftrr nn Ihe premities whi�fr may br- . � . . . . .
<br /> . c�ome damaged or destroyed ; tu kr:ep naid premises in g«>d cox�dit.iun dcrd repair an�l fre^e trom any mc-cPi�nic's lic�n or other lien or � �
<br /> , � claim of liun not expressly sukwrdinat.ed to the li��n }�Frreuf: n<��t to culTer nr p«rnnit any uailawfuf use of or any nuisance to exist on � � . � . . .
<br /> . said property nor to permit wa�te nn said prtareiscs, n<ar to eto a�5y ot!'�er aui w}�eruby- fhe pruper� y hereby ce�nveyed shall 4x�r.ome . - � �
<br /> � less valuuble, nc.�r to dimini�h or impair its value� by any act. c�r omission to act �, tn enm �rly with all requirements of law wi4h respect � : � � �
<br /> to the morYgaged premises and the use t}icreot. � � � �
<br /> rt�.. �. . . . . .
<br /> � � That sllould Lhe premises or .iny part thereof tx take� n or damaged by reasnn uf arry puhlic improvement or condemnation � ��
<br /> � � {�roceeding, or under t.he right of eminent dornain , r�r in any other mar�ner, t6e Mortgage�e sl�a❑ be rntitted to ali rumpensatiorvv, � � . � �
<br /> . awards, and any other payment or rcliei th<•rv:•for, anr3. shalt be entitled �, ut. its opt:i�,n, tn cnrnmcrice. eppeur in and proe:ecute in iLs � � � . . � � .
<br /> own name any action or prcxeeding, ur to make any rornpromise or setUement in cannection w�ith sach taking ur damage. AII such � . . �
<br /> ' � campensution, awards; � damages, right of action and �procecx3s are herehy a�signed to the Mortgagee, who � may, after dedutt.ing � � � �
<br /> t}xerefMm a❑ �� its expenses, release aziy moneys� so received by it or appiY the same on any inclebtedne5s secured hereby. The Mort� . � �
<br /> � . Kagor agrees to execute such furthcr � assignments of any compensatiqn . awards, clamag�s, and rikhts cif artion and 7�mceeds as the �. . � . .
<br /> Mortgagee �may: require. . . . � . . .
<br /> � � Thxt in case of faiiure to perturm any of the covenanie herein , the Mortgage:e may do un t.he Mortgagor's behalf everything � �
<br /> ; � - so covenanted ; that the Murtgagee may also do any act it rnay deem necessary to protec:t the licn thcreo(; that the 1�tortga�or witl . � � . �
<br /> . repay upon� demand � any moneys paid or disbursed by the Mortgagee for any of the above purp<xes, and such moneys togetfier with ����. � � . . . � .
<br /> �'. . interest� thereon � at the rate provided in � said note Shatl becume so much additional �incjebtedness hrreby secured and � mny be in- : .� .
<br /> . :� cluded in any decree foreclosing this mortgage and he paid out nf the. cents ar prcrceeds of sale of said � premises it nat othrrwise :" � � .
<br /> � paid; lhat it shall not be obligatory upon the Mortgagee to inquire into the validity of any fien, encumbranc:es, ur claim in ad- � �,� �� � � � �
<br /> � vancing� moneys as � above �auLhorized, but nothing herein contained shall tx � construed as rec� uiring th«� Mort���;e��� to ad��,enc.� ,iny � � �
<br /> . �. moneys for . sny such pur�x�se nor to do r�ny act h�. reurider; and that Morigaare shall not incur� any persunal liabilit,y because o( any- � � ��
<br /> . � . � thingit�. may � door. omit to do. hereunder_ - � � . �" �
<br /> � � In the event nf the default. by Mortgngar in the payment ot any installment, as requirrd by the Nutr secured hureby, or � �
<br /> � in the pedormance ot the ubligation in this morlgage� ur in L}le note serured thereby, thr hlortgagec sha11 be entitled Lo declare thr �
<br /> � deht sea�red hereby due t+ nd paya6l� wi ± hout nof.ic��. and the� R4�rt.rar;r�� sh� R h� E�ntitlE�� af its of�lion , u,ith��ut nn< iee�, cithr�r hy i!.se! f .
<br /> � �� � � or by a receiver to �be �a}�pc�inted 6y the � court tkereof, and �wit6out regarrl to ihe adeyuacy of �any securitY tc�r the indebtedness sr - � � �
<br /> . cured hereby, to enEer upon and � take posSession o't ��the � mortgaged premises,� and to collect and receive the rents;� issues and profits � � �
<br /> � � � �thereof, and' spply the saxrie;� .less cissts� of� o�serntion and coilection, ❑rxan� � the indebtedness secured� by � this moriKage; said rents, '�
<br /> � . is4ues�and prafits being-hereby assigned' to the Mortgagee� as further� secvrity for t.he payment �of all' indebtedness .secured here6y. � ,,,�;�., � �.., y, , � �
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<br /> , � � � � Thr� Mortqager, s�hall have the power to appoint an,y agent ar agents it may desire for the purpcn;e of repairing �v�id prerrz - � � � '" ry� " � �
<br /> � isea; renting the .same ; collecting . the � renka,. revenues and income, and it may pay out of said income all nxpenses .incurred in rent- ''� � ` ''
<br /> � . ing� and managing� �the same �� and of 'collecfing the rentals iherefrom. The balance remaining, if any, shatl be app3ied toward thr � : �
<br /> ` �,., � � �dischar e� of the moct a e indebtedness. This assi nment is to terminate and l�ecome null and vaid n '"P� ' "
<br /> � C , . 6 E q . pon relrase of this mortgage. �
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