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<br /> THE _ MORTGAGOR . - FURTHER COVENANTS .. AND,; .AGREES : . . . _ . � t t � 4 . £
<br /> That ; thdMortgagor wiltpay• the indebtedness as hereinbefore provided. , f
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<br /> That the Mortgagor is- the dviner of said property in fee simple and has good right and lawful authority to sell and
<br /> convey the same and that the Satire.-la free and clear of any hen or 'encumbrance ; and that Mortgagor will warrant and defend the _
<br /> title to said ;premises` against `tbe •cfaims of all persom : whomsoever,.
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<br /> To pay:: irtrmedietely When able, and 'payablr al) general ,taxes, special • taxea, . special assessments, water charges, sewer serv-
<br /> ice charges, and other ' ta:es and chargesagainst said property , and till taxes levied on the debt secured hereby, and to furnish the
<br /> Mortgagee, upon -request with the original orduplicate receipts therefor. The Mortgagor agrees that there shall be added to
<br /> • each monthly payment required hereunder or under the evidence of„debt secured hereby an amount estimated by the Mortgagee
<br /> to be sufficient, to enabtecthe Mortgagee to pay , as they become due,. all : taxes . assessments. and similar charges - upon the '. prem .. • •
<br /> ises subject thereto; arny ' -deficiency because of ' the insufficiency of such Additional payments shall - he forthwith -deposited by ' the ' _ . _
<br /> Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shalt he deemed a default in '
<br /> payment of . taxes, ' assessments, - or similar charges required hereunder. . .
<br /> The Mortgagor agrees that there shall also he added to each monthly payment of principal and interest required here-
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<br /> under an amount estimatedby the Mortgagee tribe sufficient to enable the Mortgageeto 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 /> , . • • ; - merits shall be forthwith depositedby the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under .this G
<br /> sr f paragraph shall be deemed a default in the payment of insurance premiums. 1f the policy or policies depositedare euch aS home:- d d e
<br /> fr - 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 en risks required to be insured by this mortgage.
<br /> Payments made by the Mortgagor under the above paragraphsmay , at the option of the Mortgagee, be held ' by itand -
<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 theunpaid 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, casualties, 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 loss payable clause in favor of and inform acceptable to the Mortga -
<br /> gee. In the - eventany 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 interest at therate set
<br /> x forth in said note until paid and shall be securedby this mortgage. Failure on the part of 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 /> t„ under the 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 he retained by the Mortgagee
<br /> and applied toward - the payment of the debt hereby secured , or, at the option of the Mortgagee, such sums either wholly or in
<br /> part may be paid over to the Mortgagor to be used to repair such buildings or to huild ' new buildings in their place or for any •
<br /> other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full amount secured here.
<br /> {Fby 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 be-
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<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 /> yclaim 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 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 - H
<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 /> t„ proceeding, . 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, releaseany moneys so received by it or apply the same on any indebtedness secured hereby. The Mort*
<br /> b gagor- agrees-oto- - execute such further assignments of any compensation. awards, damages.- andrights of action and proceeds as the: - `”"
<br /> Mortgagee _ may require- - 000~~1 or �_�.� . .
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