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<br /> MORTGAGORS MAY MAKE PREPAYMENTS OF PRINCIPAL ON ANY INSTALLMENT DUE DATE. SUCH PREPAYMENT SHALL BE
<br /> APPLIED TO INSTALLMENTS LAST TO BECOME . DUE UNDER THIS MORTGAGE. PROVIDED THE UNDERSIGNED ARE NOT IN DEFAULT
<br /> ANC ARE THEN THE OWNERS OF THE MORTGAGED PROPERTY, UPON REQUEST OF THE UNDERSIGNED, OR EITHER OF THEM ,
<br /> PAYE& AGREES TO FURNISH TO THE UNDERSIGNED100% OF SUCH PRINCIPAL PREPAYMENTS, UNLESS ADVANCEMENT IS PROW
<br /> HOSITED. BY THE REGULATIONS ' OF CHARTERING AND SUPERVISORY AUTHORITIES THEN IN EFFECT. ALL SUCH ADVANCEMENTS
<br /> SHALL BE SECURED BY THIS MORTGAGE IN THE SAME MANNER AND EFFECT AS IF NO PREPAYMENTS HAD BEEN MADE.
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<br /> S�S THE MORTGAGOR FURTHER . COVENANTS AND AGREES :
<br /> That, they Mortgagor will pay the indebtedness as hereinbefore provided.
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<br /> & • , ` That theMortgagoris theowner of said property in fee simple and has gots' right and lawful authority to sell an<.1
<br /> g',„.722,, •, •. convey the same andthat. the same is free and clear of any lien or encumbrance : and that Mortgagor will warrant and defend the
<br /> title to maid premises . against the claims of all persons whomsoever.
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<br /> To slay immediately when due and payable all general taxes, special taxes, special assessments. water charges, sewer sent-
<br /> y ice charges, and other taxes and charges against said property . and all taxes levied on the debt securedher_by, and to furnish the
<br /> 1 Mortgagee, uponrequest, with the . original or duplicate receipts therefor. The Mortgagor agrees that there shall be added to . .
<br /> each.: monthly I-a}•meatrequired hereunder or under tate evidenee of debt secured hereby an amount estimated by the Mortgagee •
<br /> to . be sufficient to enable the Mortgagee to pay , as they become clue , all taxes . assessments, and similar charges upon the prem •
<br /> icessubject thereto; any deficiency because of the insufficiency of such additionalpayments shall be forthwith deposited by the
<br /> Mortgagor \with the Mortgagee upon demand by the Mortgagee. Any default matter this paragraphshall bedeemed a default in •
<br /> r . ' payment of taxes-, assessments. or .similar charges required hereunder.
<br /> The Mortgagor agrees that there shall also be added to each monthly payment of principal and interest required here- . .
<br /> under an amount estimated by the Mortgagee to he sufficient to enable the Mortgagee to pay , as it becomes due , the insurance
<br /> premium on any insurance policy delivered to the Mortgagee . Any deficiency because of the insufficiency of such additional pay-
<br /> . . meats shall he forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any delau t under this
<br /> paragraph shall be deemed a default in the payment of insurance premiums. If the policy or policies deposited are ouch as home-
<br /> owners or all risk policies, and the deposits are insufficient to pay the entire premium , the Mortgagee may apply the deposit to
<br /> pay premiums on risks required to be insured by this mortgage.
<br /> Payments made by the. Mortgagor under the above paragraphs may. at the option of the Moxtgag: q bre heldby it and
<br /> commingled with other such funds or its own funds for the payment of such items, and until so applied , such payments are hereby
<br /> pledged as security for the unpaid balance of the mortgage indebtedness.
<br /> To procure, deliver to , and maintain for the benefit of the Mortgagee during the life of this mortgage original policies and
<br /> renewals thereof, delivered at least ten days before the expiration of any such policies . insuring against fire and other insurable
<br /> , hazards. cai :aaltiest, and contingencies as the Mortgagee may require , in an amount equal to the indebtedness secured by this •
<br /> Mortgage. and in companies acceptable to the Mortgagee, with losspayable clause in favor of and in form acceptable to the Morten -
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<br /> gee. In the event any policy is notrenewed on or before ten days of its expiration. the Mortgagee may procure insurance on the
<br /> improvements, pay the premium t.herefer. and such sumshall became immediately due and payable with interest at the rate set
<br /> f -n.h in said note until paid and shall he secured by this mortgage. Failure on the pnrof the Mortgagor to furnish such renewals
<br /> as are herein required or failure to pay any sums advanced hereunder shall , at the option of the Mortgagee, constitute a default
<br /> under the terms of this mortgage. The delivery of such policies shall . in the event of default- constitute an assignment of the un -
<br /> eamecd premium. .
<br /> Any Sums received by the Mortgagee by reason of loss or damage insured against may be retained by the Mortgagee
<br /> and applied toward the paymentof the debt hereby secured. or. at the option of the Mortgagee. such sums either wholly or in
<br /> part may he paid over to the Mortgagor' to be used to repair such buildings or to build new buildings in their place or for any .
<br /> ss , other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full amount secured here-
<br /> - by before such 'payment ever took place.
<br /> To promptly repair, restore or rebuild any buildings or improvements now or hereafter on the premises which may he-
<br /> } come damaged or destroyed : to keep said premises in good condition and repair and free from any mechanic 's lien or other lien or
<br /> claim of lien not expressly subordinated to the lien hereof : not to suffer or permit any unlawful use of or any nuisance to exist on .
<br /> said property nor to permit waste on said premises, nor to do any other act whereby ( he property hereby conveyed shall become • •
<br /> fess valuable. nor to diminish or impair its value by any act or omission to act : to comply with all requirements of law with respect -
<br /> to the mortgaged premises and the use thereof.
<br /> That should the premises or any part thereof be taken or damaged by reason of any public improvement or condemnation •proceeding, or or under the right of eminent domain , or in any other manner. the Mortgagee shall be entitled to all compensations,
<br /> awards, and any other payment or relief therefor, and shall be entitled . at its option. to commence , appear in and prosecute in its
<br /> own name any action or proceeding, or to make any compromise or settlement in connection with such taking or damage. All such •
<br /> _ compensation, awards, damages, right of action and proceeds are hereby assigned to the Mortgagee, who may, after deducting
<br /> therefrom all its expenses, release any moneys so received by it or apply the same on any indebtedness secured hereby. The Mort - . _
<br /> gagor agrees to execrate such further assignments of any compensation, awards, damages, and rights of action and proceeds as the ,
<br /> Mortgagee may require.
<br /> That in case of failure to perform any of the covenants herein . the Mortgagee may do on the Mortgagor's behalf everything .
<br /> so covenanted : that the Mortgagee may also do any act it may deem necessary to protect the lien thereof; that the Mortgagor will
<br /> repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes , and such moneys together with
<br /> interest thereon at the rate provided in said note shall become so much additional indebtedness hereby secured and may be in-
<br /> cluded in any decree foreclosing this mortgageand be paid out of the rents or proceeds of sale of said premises if not otherwise
<br /> paid: that it. shall not be obligatory upon the Mortgagee to inquire into the validity of any lien, encumbrances. or claim in ad-
<br /> vancing moneys as above authorized, but nothing herein contained shall be construed as requiring the Mortgagee to advance any
<br /> moneys for any such purpose nor to do any act hereunder: and that Mortgagee shall not incur any personal liability because of any-
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<br /> thing it may do or omit, to do hereunder.
<br /> • - In the event of the default by Mortgagor in the payment of any installment, as required by the Note secured hereby, or
<br /> . in the performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall be entitled to declare the
<br /> debt secured hereby due and payablewithout notice,- and the Mortgagee shall he entitled at its option, without notice, either by itself
<br /> or by a receiver to be appointed by the court thereof• and without regard to the adequacy of any security for the indebtedness se-
<br /> cured hereby, to enter upon and take possession of the mortgaged premises, and to collect and receive the rents. issues and profits. ,
<br /> - thereof- and apply the same, less coats of operation and collection. upon the indebtedness secured by this mortgage : said rents, •
<br /> ; issues issues and profits being hereby assigned to the Mortgagee as further security for the payment of all indebtedness vx'ureed hereby. aq
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<br /> The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said prem- y
<br /> ices: .renting . the same: collecting the rents- revenues and income , and it may pay out of said income all expenses incurred in rent - } •
<br /> ."• ing and managing - the same and of collecting the rentals therefrom . The balance remaining. if any , shall he applied toward the
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<br /> discharge of the mortgage indebtedness. This assignment is to terminate and become null and void upon release of this mortgage. •
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