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<br /> � THE ', MORTGAGOR FURTHER COVEATANTS AND AGREES : '" -
<br /> � � That the�.��Mortgagor wili pay `the � indebledness. as hereinbefore prmided . � . � . � � � . . � - � : . � � � � . . �
<br /> � � That the� Mortgagqr;� is the Pwner o[ � said property in 7ee simpla � and has good rigtd. and tawful. authority to sell ancl� - �
<br /> . . �� convey Che sxme � and that th'e��xaaie� is-free and ctear af uny ,lien or Fnc�umksruncr: : and �that Mortgagor will warrant and defend the� � � . . � . .
<br /> � � title ta said premises aqainst the claims `o£ all} Persvns . whamsoever. . � � � .
<br /> ; . � . � To pay, immediately when �#ue and PnYable a11 general taxes, special taxes;� special assessmentti, water charges, sewer serv- -
<br /> � � � ice. churge:;, and other taxea��urad chargi�s �aqainst said � property , and� all taxes I��vied on Lhc �3elit secured hereby, aiid ta furnish t}�� , � � . � . ,
<br /> �� � ��� Mortgagee,� upon ' xrryu�s:, �with t7re :aiiginnl�. . Ur . duplicate ree-eii�ts. there:f<>r: �Thc Mort.geg��r agreen that lhere shall be . added- �to � �
<br /> . . � . . Y P Y . ' 1 .. ,�,. � .�.. . . . . . - � s , � ed hFreby s�n emounC e,stimated by tl�e MortgHgee . � .
<br /> , .each ��ln�nthl a inent r�imre�] 3iereunelet �>r undcr �the G�� idence of dcbt rcur, .
<br /> � � ta be �sufficient to enAble the� Morl.gagee � to F>ay, as they beaame due; � ali �taxcs; asveasments, and similar chacges uiwn � the prnm� � �
<br /> ' :Sses '$'trbject' tHeretb;� arry deficiency liecause� of� the ix�s�ilficiency �oF s�ch addiliniia{ payments <hali he fotthwith � �#r>posited [�y 1.tre � , �
<br /> „ � Mortgn.gor wiLh the . Mcrrt�P,�t;�'�' � utxon r.3crnand hy t}3e Murlgagee. Any r(efaulY. ur�der t1�� is �s.�r�graph� shall he ri+r��ined a de(nult. in
<br /> ��=pnymenf nf �tax.ev, � ac,tiaessments, or�� sirnilar i�hargea� rc•quire.d. herr.runde�r. � � � � . � � � � � � � �
<br /> � . . . . Thr MarC�;agor agrees � that therc. .s}�a11 also be arlded to cacL m <�nthly paymc.nt ot principal and� interest ,re.yuire�3 here- . . . .
<br /> � .�; � under an � amuunt esPimalcd. by thr. � Mnrtgagee In b�a su(ficient, to enable the• Mortga{;e.ar to Fzay, as it ber.omes due, thc inswance . � � �
<br /> . � � , �. . premium pn any insurnnce poiicy derlivered � to the b2crtgagee.� Any defiirer-ncy I;�ecauscr ��f the^ insuRiciency of, such... a�diGonal pay- � .
<br /> � � � � ments s1ia11 b� f6rthwitti � r]epovited hy tite �� Mortgragc�� with thcr Rinrtgagee e�pon demanr3 by � :.he h5nrtgagee. � Any ile�fault. un<ier this � �
<br /> paragraph sh�lt 4� deemed a efef�ult ir� tha pciymrnt of i'nxure�rrc� prerniurns II ti�e policy r.c polf���ies depositc+d @tri� sach ' aa� }wme- � . �
<br /> . nrvner� ar xel2 r�isk ��oleciev, and the det>c�sits arr iazauf�cie-r�, e Go t»v l�t�<> er> tirr premii,rtr:, ihf. 7�forlga�ce.- �nuy aF���ly th:r dr�{�o�R. t�i .
<br /> . pay premiums on ri5ks requirr:d to he� insan-ci by Uri� mnrt�;ap;e . . . . � ..
<br /> � Pay['nenis tt�nde by the Murtgagor iander iha above �;nragrnyhs may , aL the o�tiur. o( 4hh 'Vlurt};taP,ee, b�^ Pu�ld � by i [ and � �
<br /> � . coinnlingle<1 �•ith c�thr, r such funds nr it. own ti.�n�ds for the pa}�men4 uf nuch ifern.s. .inrl until so �pplied, soch paymen?,M ar��b h�rcby . . � . . � . �
<br /> ' .. . plaigc:ci ar security for Lhe u�rpaid 'bnf.ince ot l.he morl �:a�;e ind<+btedness. . . . .; .
<br /> _ To procum, dcrliv<rr Lo, .ind maintain fur then c�nefit +-S fh.-• Mortgagea during UiE• 1iFe of thie rnortgak;t� �� tigint�l poliriE•s and �� �
<br /> renewals there*o€, dclivercd a[ Ie:cst tPn dzays b�*fon� thc e,z�aira�tion oC any suc;h policies, insx�ring against fire arad �dher insurahlc � � �
<br /> � hAzards, casualties, and ecrntingencies €as the M<�ztg� gee xna}� rt�uire, in ari a:no:xn2 equa2 to the indebtedncsv secur��d 6y � t3xis �� . . �
<br /> . � Mortgage, und in companies acca�pfable to Lhe M+>rt„� Se�r. H�itk�� to�s p:iyabls• clausa• in favor bf and� ixi (orm 'accept.ablv 4o the �iortga - . . . . .
<br /> . � gee. T�t tfie event any Yu.�licy ix not renrwed on ur be�efore tu d<ay� c,f its e+xpirativn , tht• T2iartgagee n'�ay pn:�cure ir2s�rxr�ce on t4�;E.;� . - . . �
<br /> improvt:rnents, pay th�• premiurrG tlii�rc,fur, and� svch sum shaill l:u�co�n<� immedir�tely due and payable with inlere>st at. th<• rafe sei :� � . ' . �
<br /> � forth in said note untii paid and shall tm .+�-cnirv�d b�' thl,s nrurzf;ai;a'. I'xitiiro on fi�r p� rt of tkie Mortgagor to fur �isk� such rc�newals � � � .
<br /> � as are herein rE�uiri�xd ur f�iilurv. t .i Cra,y any sums ad,. anco•;i her�•undcr ::hail , at. thr cption c, f IhF M�+rtgagee, const.itute a de(ault � � � . � �
<br /> � � under �the t,ermc o[ this murtg�a�e�. '1'h� rirlivery of suc}� pol �ci<-.. sh[� II, irr tha ��vent of dvlauft , ennstitute an :assiK��ment of the un- � .� � .
<br /> c:arned f�re�nium . � �
<br /> , Any sums tet;eived hy tiie Murig�r;re by rYasnn of luss ur da'mage i��sured against may be re[ained by the ASortgagee '. . ,
<br /> snd ap{�Iied toward fhe payinenE o1 ih.r debt l��ereby srcure�3 , or, at tl�ie option oC Che Mort.gagee, such sums rilher wholly c�r in . . . . � �
<br /> � pat't may bz pa:d over i0 the !VI .`=rt +�;u�,cr tn be used to repafr such building, or t, o 1>uild ' t�<-u� bailuiasgs i ❑ their ��lace or for any . . . . ,
<br /> other purpose or objcct salisfactory to the tilurtgaF�,FF witLout at[rcting thr� lien on the rnortgage fqr the full amount ser, ured here- . . . .
<br /> � � � by before such FsaymenC ever t.�rok place . � � �
<br /> To promptly rcpair, ra•store ur rrbuild any buildinR.� nr impr��r.,•nnrnts now ur hrreaft�• r on tht: ���remises wt� icl�i ma}' be- � . . .
<br /> - corne damaged or destroycd; Lo keep said prerniu:5 in g�x�d cc:nditiun and repair and (rc,�� from any mcchanic's lien or other liPn or � � . ' .
<br /> � � claim of lie�� nut ex{>ressly Nutx�rdir�ated to the lir>n hereof: not t.o suf#�r or ��ormit any imisw-ful use oC or any nuisancr, t�a e�xist on . . �
<br /> � � �� � said properly nor to permit westr> on said prcmi.a�s, nnr to do a��Y ot.hcr act. whE>reby the prapertY }�erebY conveyed s}�all become � � .
<br /> �� � 2ess valuable, nor t.o diminish or impair its v�1ue by arAy� ;eci or oinission tu act ; to cnmpty with all rryuirement4 uf law wi[h respect � . . �
<br /> � to lhe mortqaged premises and ther use thereoL . � � . �
<br /> ? 7'hat should the Prem�ses or any parC ihrreof !x 5.aki•n ur dam:aged by rca�on o( any public im��irovemc��nt. ar condemnation � � .
<br /> � � proceeding, or under the right of e•minent doinain , or in anp othc. r mcenner, the h3 �.irtRagee nhall bc enliUed to alt compensations. , � � � � � .
<br /> X awards, and� any other payment ur relief theretur. und shall be entitled , at Its option, to commence , appear � in and prr�acroute in its � � . � .� � � � �
<br /> � own name iuiy action or pr<xeeding, or to m3ke any e.ornprumise or settleeme�it :n connection with such taking or damage. All such , � � � � �
<br /> � compensatipn. � awarde; damagee,� right af action and pruueecis ure hereby assigneci ta the� Mortgagc:e. who � may, . afle� deducting � : � �
<br /> � � therefrom alt its ex�x.nses, release any moneys so receivec! by. it or apply the same on any indebtedness secured hereby. The Mort- � �. . � . � � �
<br /> . - gagor agrees to. execute such . further a�tsignments of any compensation. aw;�rds, damages, and rights of actiun and groceeds as the � � � �. � � � �
<br /> . Mortgagee may require. � � � � � � . � � � � � ��
<br /> That in case of failure� to perfurm any u( the covenunts herein, the Mortgagee may do on the Mortgagor's behalf everything � � . � . � . � .
<br /> ' . so covenanted ; thet the Mortgagee mey also do any act it may decm nece�ssary tu protect the lien thernof: that the Mortgagor wiif '- � � � � � � �
<br /> , repay upon �demand any moneys paid or disbursed by the Mortgagec for sny of the abo4•e purpc»es�, and such maneys �toget6er with �� � � � �
<br /> . interest thereon at the rate provided in said note shall become so inuch addit.ional indebt�3ness hereby secun-d snd may trt in- � �� . �� . � � �
<br /> ' �� ' � � cluded in any decree fareclosing this mortgage and be paic3 out uf � hc remts nr procerds of salF of said premisc>s if not otherwise � � �
<br /> � � paid; that it shall not be obligatory u�n the MortKagee to inquire inRo ihe validity of any lien, encumbrances, or claim in ad- , , � � � . � � . �
<br /> . � vancing� trtoneys as above authorized, bu2 nothing here�in�. contuined shall bc: cunstrucd as requiring the Mortgagee ta advance any � . . .
<br /> � moneys:for. any . such purpose nor to do any act herr. under, and that Mortgagee shak! not incur any persunal liability because a( any- " � � � � . �
<br /> , � � thing. it may do or omit Lo dq� hereunder. . . � . . �. . . � . .
<br /> � . In thca event of � t.he default by Murtgagor in the payment of aay Snsfallment , as reyuired by thr Note secured hereby, ar �
<br /> � � in the performanee o[ the obligation in this mortgagc: or in the note secured lhereby , the Mortgagee shall be rntitled to declare Lhe� . � � . � � � . �
<br /> debt seCured hereby due and payable without nvtice, and the Mortgagee shall be entitled at its option, withnut noYice, either by iLvelf . � . . � � �
<br /> � or by a teceiver tobe ap�>uinted by the court ther�wf, and �w�ithout regard 4o t.he adequacy af any security fur the indebiedness sa- . . � .
<br /> � cured hereby, �to �enter �pov and � �take� po4.L-f•ssion' iif � the � mortgagPd premiues,� and to collect. andreceive the re•nts. ivsue� and profits � �
<br /> � Yhereo:. a;4l � apply' !?:c sa.:.c; Icss costs q� a,c:at .�: ii .::^d c:,Ili � !icn , vpr: ^� t!tr in��htrdar�:s tetterrd !+y this mortoz�,e; ssicJ � rents, .
<br /> �� °� � isaues and� prafits being -hereby assigned to <he�Mortgagee�ae further securiiy for t.he papment ot alt �indebtedness � secured hereby. � � � � �
<br /> � � � T`he Mortgagee shal! have the power to appoint any agent or agents it may desire for the purpose of repairing said prem - . . .
<br /> � � ises; � renting the .same : collecti�g the rents, revenoes and income, and it may pay nut of said income all expenses incurred in renb
<br /> � � in and mana in � � the same and ot �callectin the rentals theretrom.� ThP balance remainin if an shalt br a i Led koward the , � �"'�' � � " � ,
<br /> S 6 & g 8. Y. I P � ...
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<br /> � � � discherge of thP mortgege indebtednev.¢. This assignrnent is to termmate and become null and void upon re�leasv �d this mortgage. ;N ' ,�`� ��
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