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1t . - r i . t t
<br /> F ° THE ' MORTGAGOR " FURTHER , COVENANTS AND AGREES: . .
<br /> it
<br /> a . . '.Chat the Mortgagor swilf,paY, thed
<br /> indebtednestats herefgbefore provided.
<br /> ,That the Mortgagor to the owner of said property in req nimple' pnd hasgoodright 'and lawful - authority ' tosell and
<br /> convey the •sanle and that the'sameas tree and clear of any lien or encumbrance; and . that Mortgagor will warrant and defend the
<br /> 'I , title ' to' said premtnes . against:, the ldarms 'of '„sll persons - whomsoever.
<br /> IPTo when -due and payable all general taxes, special laxes,s special assessments, water chargee, sewer sans- .
<br /> ' ice charges, ,and other taxes . and charges against said property. awl all taxes levied on the debt secured hereby, and to furnish rho - `
<br /> i ,Mortgagee, ' upon . request, With 'the ; original or duplicate recciits -. therefor.- The Mortgagor agrees that ,there shall be . added to
<br /> r eachmoothly- payment .required : hereunder or under the evidence of debt secured .:hereby' an amount estimated by the Mortgagee ,
<br /> to' he. sudicient tceenable the Mortgagee to; pay, as they become due, all taxes, assessments. and similar charges upomtho premiss
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<br /> isea. subject thereto; any; deticfency; lecause of the insufficiency of such additional payments shall he forthwith deposited by the
<br /> .-Mortgagor With Mt! Mortgagee upon demand by : the Mortgagee. Any default under this paragraph shall bee deemed a default in .
<br /> � Payment ° oftaxes,` asiessments;< nrsimilar - charges required hereunder. e -
<br /> The. - 'Mortgagor; agrees. that . there shall also be added to each monthly payment of principal .and interest required here.
<br /> ' under anrumourtt' estimatedby the Mortgagee to he sufficient to enable the Mortgagee to pay , as it becomes due , the insurance :
<br /> premiurn ort- any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pay-
<br /> ments 'shall - be forthwith deposited ' b ' the ' Mertgagor with the Mortgagee.: upondemand by the Mortgagee. Any default under this
<br /> : paragraph shall bedeemed a default in the paymentof insurance ' premiursis. If the policy or policies deposited are such as home)
<br /> owners or all risk policies, and the deposits are insufficientto pay the entire premium , the Mortgagee may apply thedeposit to .
<br /> pay premiums on risks required to he insureds by this mortgage. .
<br /> Payments made by the Mortgagor under the above paragraphs may , at the optima of the Mortgagee, be hdd ; by 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 /> pledgedas 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 polities, 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 , withloss payable clause in favor of and in form acceptable to the Mortga
<br /> r : gee. In theeventany 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 interestat the rate.set
<br /> "s0 ' forth in said note until paid and shall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals .
<br /> - art arehereinrequired 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 theumsrk
<br /> earned premium.
<br /> E r
<br /> Any sums received by the Mortgagee by reason of loss or damage insured against may be retained by the Mortgagee
<br /> I•. t 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 maybe paid over to the Mortgagor to lx, used to repair such buildings or to build ' 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-c - -
<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 maybe-'
<br /> IL comedamaged - 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 the property hereby conveyed shall - become
<br /> leas valuable, nor to diminish or impair its value by any art nr 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 the right of eminent domain, or in any other manner, the Mortgagee shall he entitled to all compensations, -I :
<br /> P• _ awards. andany other payment or relief therefor, and shall be entitled, at its option. to commence. appear in and prosecute - in its
<br /> own mune 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 /> I.
<br /> therefrom all its expenses, release any moneys so received by it or apply the same on any indebtedness secured hereby, The . Mort- y,
<br />, f - gager - agrees to execute such further assignments of any compensation. awards, damages, and rights of action and proceeds as the
<br /> Mortgagee may require.
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