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<br /> s RE: ,, MORTGAGOR. .EURTHER
<br /> COVENANTS AND . .AGREES . _ , . .
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<br /> 4r ;lb :462. Thatatel Mprtga or will pey the indebtedtsess as laereinbefnre provided:
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<br /> rJ That the- , Mortgagor %dia th. sh ler of said property in fee simple ' and has good right and lawful authority to sell and
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<br /> convey the same-and that the-stoner ta4ree •and clear of any lien or encumbrance; and that, Mortgagor will warrant and . defend : the H c ttd 42;22 title to said premises ' against Shedaitott of 'allz,persone iwhornsoever. . . ,
<br /> To par rrnmediately. when duei `snd 'payable all general taxes, special•• iaxes, ;special assessments, water charges, sewer serv-
<br /> 4ice charges; and other{ taxes and charges against said prpperty , and all taxes levied on the delft securedhereby, and to. furnish. the
<br /> a Mortgagee, upon request, with the original• or duplicate receipts - therefor. The Mortgagor agrees that there shall he added to
<br /> each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br /> z V to he - sufficient lto enable the' Mortgagee rto pay, I as they become due, all taxes; assessments, and similar • charges upon. -the prem-
<br /> d ises 'atibject th . reto. any deficiency "tmceuse of ttie insufficiency of such additional payments shall he forthwith deposited by i the
<br /> z' ! Mortgagor with , the Mortgagee upon . demand by the Mortgagee, Any default under thisparagraph shall he deemed - a default in
<br /> Kr.° ‘ - : ' , payment of ° taxes, assessments, or similar . charges. required -hereunder. . - . . " . 4 4 4 - " I '. .
<br /> 1 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 becomerz duz , the . insurance
<br /> premium an anyinsurance, . policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pay - 44
<br /> mems ahall ' bo forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br /> paragraph shall be deemed . a . default in the payment of insurance premiums. If ' the- policy' or potrcies' deposited are such 'as trent- e- ' '
<br /> n owners, or all . risk policies, and the deposits are insufficient to pay the entire premium , the Mortgagee may. apply the ,depoart .' to
<br /> paypremiums on risks required to be insured by this mortgage.
<br /> Payments made h the Mortgagor under the above
<br /> Y get, paragraphs may. at the option of the Mortgagee. be . held hy it and ,
<br /> commingled-:with other such funds or its own funds for the payment of such items, and untilso applied. suchpayments are. hereby 1 "
<br /> pledged as security for the unpaid balance of the mortgage indebtedness.
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<br /> To procure , deliver to. and maintain dor the benefit of. the Mortgagee during the life of this mortgage originalpolicies and
<br /> ' renewals thereof, delivered at least ten days beforethe expiration of any such policies, insuring against fire - and other insurable
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<br /> hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this .
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<br /> Mortgage. and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the Tlortga -
<br /> gee, In the event any policy is not renewed on or before ten days of its expiration, the Mortgagee may procure insurance on the
<br /> -improvements, pay the premium therefor, and such sum shall became immediately due and payable with interestatthe rate' set
<br /> forth in said note until paid and shall be securer' by this mortgage. Failure on the part of the Mortgagor to furnish . such renewals .
<br /> c^ as are herein required or failure . to pay any sums advanced hereunder shall, atthe option of the Mortgagee, constitute a default
<br /> t underthe terms of this mortgage. The delivery of such policies shall , in the event of default, constitute an assignment of the un•
<br /> earned premium. . . •
<br /> Any sums received by the Mortgagee by reason of loss or damage insured against may be retained by the Mortgagee
<br /> R5.-.:,' and applied toward the payment of the debt hereby sreured . or, at the option of the Mortgagee, such sums either wholly or in
<br /> part may hepaid over to the Mortgagor to be used to repair such buildingsor to build - new buildings in their place or for any
<br /> other purpose or objectsatisfactory 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 cr improvements now or hereafter on the premises which may be-
<br /> come damaged or destroyed : to keep said premises in good condition and repair and free from any mechanic's lien or other lienor
<br /> claim of lien not expressly subordinatedto 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 the property hereby conveyed shall become
<br /> less 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. .
<br /> proceeding, or under :Le 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 shalt 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 byit or applythe same on any indebtedness secured hereby. The - Mort ,. -.d
<br /> gager. agrees '.t.o ' execute' such ,further : -assignments of compensation, awards, damages. and rights of action and proceeds as the ---z
<br /> - - Mortgagee:may: require- ...�
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