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<br /> T7HE MORTGAGOR FURTHER ,.COVENANTS - AND AGREES: �
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<br /> � �� � . � That khe.: Moctgagor � will �ay '�the;�indebtedne,es as hereinfaefore �prirvided. � - � � � � � . � � �. � � � . �
<br /> �. � � �. � � � That the Martgag�C:�� is ihe dWner of said jrruperty in Iee simr�3e ��� and has � �good rigLt and iawC�t autLurity tn � s.-II and���� � . .
<br /> convey. the same and that thw� same is';fzee an�l clear o[ eny lien or�� encumbr�nce; and thal �� Mortgaqr,r will w�arrant' and� ��le[end ��t.he` - � ' � � �
<br /> � �� �,title to � said premises .ngainst; the claiine of all. personS , .whamsvever. � � � � � .
<br /> � To pay i,mmeriiately . �whRn due rand payable ull generpl taxes, special taxes�., speri.�i assa;�sments. watcr� charges, .sewer �:erv . ` � �
<br /> ��� ice � chnrgcw, end ot}ic:r taxes�� and cht�rges agaifrst said t3tuperty. �a�da�l ��tazee levi�d nn thi• � de�bt secored � here}�y. � ai�d to � furnish . t.iae ' � �
<br /> , �� Mor4gagee, upon ;cet�uest, .:wath the �:original_ Ur �. duplicate receipLs � there(or. � 'The Mortgagor ag�rees Lhat there `shall f�c a�lcir,rl`tn' � ��
<br /> ; �,� each monthly payment required hereunder or . under the' �rvidence� of deLt secured }urrebyan smr�unt cslimatn<3 I�y the lbft�rtgagee � "
<br /> � � �to 6e �sud'icien� ta 4nable ihe Marigagee to pay; as thc:y� becor:ie �lue, all�. l-uzc�, as,sesarnenis, �ncl simi(ar chargr� u��n . {.he prF�in• �� ,,;, . ��
<br /> � ises sutiject thereto;���any �deficir.ncy �� because "of � ihe � ineufTcikr�icy oF such ac9iiititinal �iaymi�nts��. :;kial! be ftirthwith � dcpZisited Ly ihr �� � . .
<br /> �. .. Mt�rtgagor. � wiCh A�e IW4ort:gfige•e� uF>nn clemand b,y the Mnr..�,a�;�c. Any ricrfaault und�rr t.F�is ��prag,ra�ih !�half !>c ci�•��med a default � in . .
<br /> ' :� � �paymr.nt'nf taxc:s, assc-ssment.G, nrsi�ni3ar � c6na�kes reGuirrd heriundee .. �. � . . . . � :�� ��� � �
<br /> � 'I'hF� R1'ortgti�nr a�;rr,t:�r� th:sk Lh�m . sl��al! al+o k>e atlded to. ��aeh montlily paym2nt . of, principal . and antrrest required ��re - � �� �
<br /> � � . � uncler an amaunt estimated krv L]'re Mor4gagee t.o be s�iffcieJn4. fo <� n:.eble f.iie �'4lortgiage,e � fu pay , as il bc•cnmcs <lue, lhe insnrax�ce �
<br /> �� i�irmiuIIl. v�t Jury iiL•n� ri3iiCc,` pUiicS�. �t:livYrre<i t0 Li)L• 1,1�30ri(�'3g[e. �11y ❑PS1c�t•1lCb� Crq.c:kuSc ai 1 }�E !n'nu7liciL'ncy <Y! s[3t:1'A i'stfdi �lCitllf�. j18y- . . . ,
<br /> � � � . � �nPnts sha11 he �fni-lhwifh <lejiositod !iy the Morigag�r wit}� the '.Vior(ga�;ee upirn dema� nAi by � the� Mortg�gee� . Any �default ��uniler this
<br /> . � . }�saragraph ahall be dcerned a �3etault in ths+ t�av��neixl: iyf i�isuez+nc�e � pr�mi�urns . If the� Tx:ticy � or�. polu�.ies �iiepovt.ed are �:sitch � �. Ix�me� � ��� .
<br /> . � owners or all r9sk jx�[iries, and thc de���osits er.r. insuflicient fo pay lhr e•r� t.irr� prc•n��ium , the Mortgagee• may :a7>�'�ly thc- e9er��asit to - ... � .
<br /> Pay premiums on risks reguir�d to be. insured by t.hi� mort �;agc�_ � . . � . � . �
<br /> PaymenLv mad2 k,�y the ?vioxtgag4r under Ghe e+bove par�graphs may , at the opiiuu of [he Mortg:�F;er, hr hPld ' by it anct
<br /> � cOmmingled with other such funds ar its � uwn funds for th�= �payxnrnt nf raueth itemc, and until sc� apy� ➢ ied, avch�� payments erv,: hrrnhy .
<br /> � pledgecl us senurity for the unpaid balance �f thr, � mort�.agc ind�bt,eiSncss � � � � .
<br /> � � To procare, drliver t.o. ani3 � msintain. .for the Imiiefit � nf thrz -M4rtgague durin#; t.he lifr �;f Ytiis mort.g3ge cn�igioal ,xeli<'ic•s und � � �
<br /> � � � renewals theriKrf, dtliv�red at k:ast ten days t�fbre Yhe exp� rafian of . any s'uch policie�, in�uri «g aaainvt fire and othEar ] nsur3hle � � - � �
<br /> � � . haxardn, . casualtiea, � anc3 contingencies as �the M�rtgagee may re�ryuire, � in an � amounY � equal to the indebt�dnr-a� scri.tred by � this � � � �� � .
<br /> �. :VLort.gage, arxd in coc7,p inia'-s acrepi�aLi�r Yo thd M'�icLga�ee, a+�� 9h lons� pay�l�ki+ c7an5p. iai fxv��r nf �,nd in Eorm acceptatrle (c� thc, ,;vlurtga- � � � .
<br /> � �gee. In 4he cvent anY poticy is not renewed un or bE:fore L�n dzays uE it:: expiraiican, ih�:- Mort�a�;ee� rnay pr�>roru insutane-e on the � . �
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<br /> . � improvements. pay the p�emiurn lha�ref�:> r, .ind zuch s¢m slz;ail b�r�:ume i�nmt:d5ailclY dui� and {aayablar with inte•rest. at � t.he rat<• seY � . � . . . .
<br /> ' � fe�h in said n•,te u..r; ! {,aid a,��.�i �i�ali }� ��. v..�cu ••. i l.�y tl, is zr. . i.�<_�c E',;lu •e .:� the ,oart „f tF.e• !\nr.::ga;;c: c.; Fu :�:�� :,.,:...`, :cr �i,•.v�ts . �
<br /> � � as � are }rexein� required or fpilure t�7 pay uny suxns advanced h�rcuntler ahall, at th<. option of th�a hQ�ritiat.ee, constilate a cle{ault � �� �
<br /> nnded� the terms c�f this mortgaKe. The dFlivery of sucf�� pulicie�s cl-:ali , in Yhe �rvent of clrfairlt. constit� ufe an assi�;nrticmt uf the un- �
<br /> ' � � earned premium. � � � � �
<br /> � � � � Any aums received by tha iblorfN,�M�'� P�y rv•a<n❑ nf Inse or damag.: insured a�;uinst rna_y be retF�iY�e�f hy the A1�,ittgagee �
<br /> , ' and a � ' iieti iowaid l.ite �nyuienf oi t:c 'i�F;:. !; .-. . b . s:.:u :c;3. � r. ::!. :t�:� op.�.! :r,.n �.f z.h;- �1ort.,; ^� . , ..•.; c : ihar •.�h..l:• a: in . .
<br /> i F� 1 a �z'. su�.: y,_.. � .
<br /> � � � p�rt may F� paid over to thv h9ortg�ngor tu k+� use,d lo r<>pair such L^uildings or ko t�uild ' new bailding� i<, i3,eS � �lace or for any � � �
<br /> okher �>urpose or pbject� �e;ati5fuclory Lo the Me,rtgagee wifhout alic•cting thie lie�x on th,:�� mortgage fox the full amount ��currd hNre-� -�- . �� � �
<br /> . � by before such payment evt:r tuolc place. . . �� � � �
<br /> � . � �Tu }�rc�aiptl�r repair, resture ur rnbuild aiiy buildings or i�nprr,vernE�nt�s no�n� ur hvreaKer an the premiaes wtii�cti may be- .. .
<br /> �'. . . eome damaged or deylruyed ; lo keep said Fxemisrs in gru�d ec�ndition anri re,�air and Cree fram any incrchanic's tien or other lien ear .
<br /> � � claim uf lien not expressly autx�rdinated lu the lien }:ervof; not to sulFer <>r pi rmit any iinlaw�ful use of or any ruisance� tn exist . on .
<br /> , �. said � property nor �to permit wante on saicl preanises, nor :c do :�ny ottier act whrret7y the property hereby convc:yed shall twcome � . �
<br /> . � �less valvable, nor ta c3Smin9sh or impair its value by ariy act or omission to act _ tcr c•am �A �� with all require�ments vf law with rvspcct
<br /> � . to the mortga�ed premises and the usr. thereof. . � � � �
<br /> ��, � That s;�ould the � Premises ox :�ny part th�r�-of be taken <> r clamaged by rca�un of any puLlic imprnvemenf. or c��ndenna[ion . � � � �
<br /> � prcrceeding, or under thr. right of eminent domain, or in any othcr manne:r, the Mortgagee shall be entitled to all com:pc:nsation.c. � �,
<br /> . aw�rds, and any other payrnent or relief there(ur, and shall. �tx�� entitled, at �iGs option, to commence: appear in� c�.nd prosecute ia its ' �� � �� .
<br /> own. nazne any action or pniceeding, or lo make any compr«mi�e or settle�nc+nt in conx�erction with suck takinq ur dam3ge. All such . �
<br /> � compensetion,-: awerds; ' damnges, right of � action and pzocexls ure hereby assigned to Yhe IvTortgagee, who may, �atter �' deducting . . � . .
<br /> � . therefrom �ati� its �espen�, zeiease :any moneys so received bv it � or apply the same un any indebtedness secmred � hereby. �7'he � Mort; � . . �
<br /> � . gagor•agrecs to execute � such further aasignments 4f any . cami>ensaliun, awards, demages, and. ri�htsof actiun and . nroceeds;;�s the � � � � �
<br /> , � � Mortgagee . maY require. � � . � . , . . . . � � � . . . . . � . . .. . _ . � . . : � �. � . .
<br /> � . That in ease. of failun: to per(urm any of thr. covenants herein, the Mort�agec: may � �io on thc• Mortgag<>r's� behatf �eveiything � .,'� � � �
<br /> . � so covenanted ; that the Murtgagee may atso do any act it may ilee�n nece...sery tu �rroteci the lie•n iherr.oC; thac thF> MortgaKor will . " �. � � � � �
<br /> ' repay upan 'demand � any moneys paid or disburscd � by .the Mortgagee �for any of the above� purpcnes. and such moneys �togethet with " ,_' . . . . �
<br /> � " � in4erest� thereon sE ihe rate �rovided is said note shail bec�me so much � additional indebtedness here6y s�rcured and may � fie im � . . � .
<br /> . cluded .in any dectee foreclosing this mortgage and be E�aid out. o[ lhe mntc or proceeds of � aale � of said � prc:mises it not �otherwise � � � .
<br /> . � paid; that it staall not� be obligatory upon the Mortgagee to inquire into the validity nf any lien. encumhrances, or daim in ad- ' � .
<br /> � � vazrcing ;Fnuneys as aboye authorized, but nothinq herein centain+ed sha❑ Fx: ronstrued ac rc�c;uiring tht: Mnrtgagee 'to advance � nny �� �� � � � � �
<br /> � � � . moneys��. for:.ac�y � such . putpose nor� to do: any act :}�ereunder, � and that Mortgagee shalt not incur any pers�>nal .liabi $t:y F�cause o( aity-� � � . �. � � . . � �
<br /> . khing it�, may do or, omit ,to � c3u, heceunder. . . . � � . � . . . � . .. . . . - � . . . � .
<br /> . In the event ot the defdult :�by Mortgagor in tkre payment of qny insfallment,. as� required by the Note � securcd herelry. .ar� �. � � �
<br /> . � � in the �erformance a! the abligation in this mortge�K or in the note secured thereby, the Mortgagee shal! be entitled to de�clare the . � . . � �
<br /> � . � . . debt �secured hereby .:due , and. payable without nolice, and tbe MorLga�;ee �shal! be antifled at 'rts �ptic�n, withaut r�otice, either by iisetf - .
<br /> � . .. � or by a receiver to be apphintQct by the court thereof; and without . regard' to the adequacy of any securit,v fnr the indebtedneas se-� � � ,
<br /> %� � � cured, hereby, to enter npa�n � and take� pos§ession' o7 the mor{gaged premisea; axd to coliect and � receive the rrnts. igsues� and profits �� � . .� .
<br /> �. thereof; and applq .the sEerrae, .Jess cost_a af o�ration and �cotlectian, upon �. the indebic.r3ness seeured� by this mortgege; ::aid rents,�� . �
<br /> � is�ves and profita being herel�y assignea3� #o Lhe �M<�rtgagE�e &x (�rL}�eo- hecnriLy fcnr thr i�aymenL o! a7! indebteatne�ss sPcured hereby � � � , r� �. . �: n r y �.
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<br /> � The Mortgagee �hall have the power to ap{wint any agent or agents it may desire tor the purpose of repa�rmg said prem- � �� ,„ �1•z •
<br /> ises; renfing the , same5 cotlecting th� : rentr,, rev,enues and income, and 'at :may gay out of said . income ap expFnses incurred 3n xenb , - ���'
<br /> L �_, ing and � tnanaging �the same � and of �collecting �the rentals lhereirbm. The � balar,.e remaining; if any;� shatl Fr� �Hpt����� � ���+'ard thp . ; {; .� , �
<br /> ; .� � discharge� of the mortgege,. ,indebtednests. This � assignment � is to terminate anA become nalf and void upon release of this mortgage. � � � .�;�_�,:�1,":�
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