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<br /> 76. noo818
<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 /> q AND ARE THEN THE OWNERS OF THE MORTGAGED PROPERTY, UPON REQUEST OF THE UNDERSIGNED, OR EITHER OF THEM,
<br /> S . PAYEE AGREES TO FURNISH TO THE : UNDERSIGNED • 100% OF SUCH PRINCIPAL PREPAYMENTS, UNLESS ADVANCEMENT IS PRO-
<br /> p ' • MIMED BY THE REGULATIONS OF CHARTERING AND SUPERVISORY AUTHORITIES THEN IN EFFECT. ALL SUCH ADVANCEMENTS
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<br /> SHALL . BE SECURED BY THIS MORTGAGE IN THESAME MANNER AND EFFECT . AS IF NO PREPAYMENTS HAD BEEN MADE. •
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<br /> N THE MORTGAGOR FURTHER COVENANTS AND AGREES :
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<br /> i' That the Mortgagor will pay the indebtedness ns hereinbefore provided .
<br /> E° That the Mortgagor is the owner of said properly in fee simple and has good right and lawful authority to self and
<br /> L- , <. convey the swine and that the same is free and clear of any lien or encumbrance : trod (hat Mortgagor will warrant and defend the
<br /> i title to said premises against the claims of all persons whomsoever.
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<br /> e To pay immediately when due and payable all general taxes. special taxes special assessments. water charges, sewer serv-
<br /> ice charges, and other taxes and charges against said property, and all taxes levied on the debt S CII red hereby, and to furnish the
<br /> Mortgagee, . upon request. with the original yr duplicate receipts therefor. The Mortgagor agree„ that there shall he added to
<br /> IQf, each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br /> it: to be sufficient to enable the Mortgagee to pay, as they become due, all taxes, assessments. and similar charges upon the prrm -
<br /> tbites subject thereto; any 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 shall he deemed a default in
<br /> payment of taxes, assessments. or similar charges required hereunder.
<br /> fl The Mortgagor agrees that there shall also be added to each monthly payment of principal and interest required here-
<br /> tunfer an amount estimated by the Nlortgagee to be sufficient to enable the Mortgagee to pay . as it becomes due, the insurance
<br /> it' premium on any insurance policy delivered to the Mortgagee- Any deficiency because of the insufficiency of such additional pay-
<br /> 1: ments shall be forthwith deposited by the Mortgagor with the Mortgagee upon denials' hy the Mortgagee. Any default under this
<br /> paragraph shall be deemed a default in the payment of insurance premiums. If the policy or policies deposited are such as home-
<br /> li owners or all risk policies, and the deposit,: are insufficient to pay the entire premium , the Mortgagee may apply the deposit to
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<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 Mortgagee . he held hy it and
<br /> commingled with other such funds Or its own funds for the payment of such items. arid until so applied, such payments are hereby .
<br /> pledged as security for the unpaid balance of the mortgage indebtedness.
<br /> i: 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 [ire and other insurable
<br /> f : hazards, casualties, and contingencies ns 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 in form acceptable to the Mortga-
<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 become immediately due and payable with interest at the rate set
<br /> forth in said note until paid and shall he secured by this mortgage. Failure on the part of the Mortgagor to furnish such reneWald
<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. Thr delivery of such policies shall , in the event of default . constitute an assignment of the lin-
<br /> g. , earned premium.
<br /> i: . Any sums receiver( by the Mortgagee by reason of loss or damage insurer) against may be retainer) by the Mortgagee
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<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 build new buildings in their place or fur any
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<br /> other purpose or object satisfactory to the Mortgagee without affecting the lien On the mortgage for Ihr hill amount secured here-
<br /> {t by before such }iayment ever tock place.
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<br /> To promptly repair, restore or rebuild any buildings or improvements now or hereafter on the premises which may be-
<br /> iF . . . come damaged or destroyed : to keep said premises in good condition and repair and free from any mechanic's lien Or other lien or
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<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 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 taw with respect
<br /> to the mortgaged premises and the use thereof.
<br /> V. That should the premises or any part thereof Ise taken or damaged by reason of any public improvement or condemnation
<br /> 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
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<br /> compensation, awards. damages, right of action and proceeds are hereby assigned to the Mortgagee, who now, after deducting
<br /> }}, therefrom all its expenses. release any moneys so received by it or apply the same on any indebtedness warred hereby . The Mort..
<br /> gagor agrees to execute such further assignments of any compensation. awards, damages. aun 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 /> tt so covenanter): that the Mortgagee may also do any act it may deem necessary to protect the lien thereof: that the Mortgagor will
<br /> Frepay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes. and such moneys together with •
<br /> 1} interest thereon at the rate provided in said note shall become so much additional indeMedness hereby secured and may be in-
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<br /> eluded in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if not otherwise
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<br /> aid: that it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien. encumbrances. or claim in ad-
<br /> ,'`t vancing moneys as above authorized . but nothing herein contained shall he construed as requiring the Mortgagee to advance any
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<br /> moneys for any such purpose nor to do any act hereunder: and that Mortgagee shall not incur any personal liability because of any-
<br /> '° thing it may do or ()mit to rho hereunder.
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<br /> -it: In the event of the default by Mortgagor in the payment of any installment , as required by Ow Note secured hereby, or
<br /> 'ji 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 payable without notice, and the Mortgagee shall be entitled al its option. without notice, either by itself
<br /> Y• or by a reeei erito be appointed by the court thereof. and without regard to the adequacy of any security for the indebtedness se -
<br /> t cured hereby, IP enfet 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 costs of operation and collection. upon the indebtedness secured hy this mortgage; said rents,
<br /> {-. issues and profits feeing hereby assigner) to the Mortgagee as further security for the payment of all indebtedness secured hereby .
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<br /> u The Mortgagee shall have the power. to appoint any agent or agents it may desire for the purpose of repairing said WPM -
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<br /> sr; ices; renting the same; collecting the rents, revenues and income- and it nuuy pay out of said income all expenses incurred in rent -
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<br /> ing and managing the same and of collecting the rentals therefrom. The balance remaining. if any. shall he applied toward the
<br /> '� discharge of the mortgage indebtedness. This sassigntnent is to terminate and become null :and raid upon release of this mortgage.
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