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<br /> MORTGAGORS REPAYMENTS OF PRINCIPAL ON ANY INSTALLMENT DUE DATE. SUCH PREPAYMENT SHALL BE
<br /> < f- APPLIED TO INSTALLMENTS LAST TO BECOME DUE UNDER THIS MORTGAGE. PROVIDED THE UNDERSIGNED ARE NOT IN DEFAULT
<br /> c`Y AND ARE THEN THE OWNERS OF THE MORTGAGED PROPERTY, UPON REQUEST OF THE UNDERSIGNED, OR EITHER OF THEM,
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<br /> PAYEE' AGREE& 70 FURNISET TO THE UNDERSIGNED 100% OF SUCH PRINCIPAL - PREPAYMENTS, UNLESS ADVANCEMENT IS PRO*
<br />-61::-5, HIBITED • BY: THE .REGULATIONS or CHARTERING AND . SUPERVISORY AUTHORITIES THEN IN EFFECT, ALL SUCH ADVANCEMENTS
<br /> PL SHALL 13E' SECURED - BY ;THIS MORTGAGE :IN THE • SAME-MANNER AND EFFECT AS IF NO PREPAYMENTS HAD BEEN MADE.
<br /> THE ' MORTGAGOR : FURTHER . COVENANTS AND AGREES :
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<br /> f" , That the 'htorlgagor will . pay the indebtedness ns hereinbefore provided.
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<br /> St That the Mortgagor is- the owner of said property in fee simple and has good right and lawful authority to Hell and
<br /> r i - convey the name and that the game is free and clear of any lien or encumbrance: and that Mortgagor will warrant and defend the
<br /> title lirsaidpremine , agniustIhe datum of all persons whomsoever. .
<br /> - 'I'o pay immediately when due and payable all general taxes, special taxes, special assessments, water charges, newer serv-
<br /> ' ice •cliarges, and other taxes upd charges against said properly. and all taxes levied ml the debt secured hereby, and to furnish the
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<br /> .Mortgagee, upon request , With the original or duplicate receipts therefor. 'Phu Mortgagor agrees that there shall be added to
<br /> IJr.PY each monthly payment required hereunder munder the evidence of debt secured hereby an amount estimated by the Mortgagee
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<br /> to he sufficient to enable tine Mortgagee to pay . as they become due , all taxes, assessments. and similar charges upon the prum-
<br /> i$eN subject thereto; any deficiency Is-cause of the iunnticiencY 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 be dI!I!IIlVd a . default . in
<br /> . i payment of taxes. assessments. or Similar charges required hereunder.
<br /> t ` The Mortgagor agrees that Were shall also 1w added to each monthly payment of principal and interest required here-
<br /> under an amount estimated Ily the Mortgagee to be sufficient to enable the Mortgagee to pay , us it becomes due, the insurance
<br /> ;Ii,( premium on any insurance policy delivered to the Mortgagee . Any deficiency because of the insufficiency of such additional pay -
<br /> moths shall be forthwith deposited hy . the Mortgagor with the Mortgagee upon dematul by the Mortgagee. Any delimit under this
<br /> `2`.: paragraph shall he deemed a default in the payment of insurance premiums. If the policy or policies; deposited ore %nett us hone.
<br /> ;k! 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.
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<br /> .rt Payments made by the Mortgagor under the above paragraphs may, at the option of the Murllnigne. be held by it and
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<br /> - . coatmingted with other such funds or its own funds for the payment of such items, and until so applied, such payments are hereby
<br /> "%`p • ledged UN security for the unpaid balanceof the mortgage indebtedness.
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<br /> f-if _ To procure, deliver lo, and maintain for the benefit of the Mortgagee during the life of this mortgage original policies Had
<br /> '.. . . renewals thereof, delivered at least len days before the expiration of any such policies. insuring against (ire 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 ( 6e Mortgagee, with loss payable clause in favor of and in form nccoplabin to the Morlgn -
<br /> t•. gee- In the event any policy in not renewed on or before ten days of its expiration. the Mortgagee may procure insurance On the
<br /> t. improvements, pay the premium therefor. and such sunt shall become immediately duo and payable with interest at the rate set
<br /> s forth in Enid note until paid and shall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
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<br /> . av 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 /> , . earned premolar,
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<br /> c'f 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 payment of the debt hereby secured . or. at the option of the Mortgagee, such suns either wholly Or in
<br /> `1be may he paid over lo the Mortgagor to • usedto repair such buildings or to build new buildings in their place or for any
<br /> f:' other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full amount secured here.
<br /> 6. by More such 1myment ever aceta place.
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<br /> i 7(.• promptly repair, restore or rebuild any buildings or improvements now or hereafter on the premises which may be -
<br /> - none damaged or destroyed : to keep said premises in good condition and repair and free from any mechanic's lien or other lien Or
<br /> - fit claim of lien not expressly scd,oldnnated to the lien hereof ; not to sulker or permit any unlawful use of or any nuisance to exist on
<br /> said property nor to permit waste on said Premises. nor In do any other act whereby the property hereby conveyed shall become
<br /> '1 lens valuable. nor to diminish or impair its Valle by any net or omission to net : to comply with all requirements of law with respect
<br /> rte to the mortgaged premixes and the use thereof .
<br /> T.; That should the pretnisce Or may part. thereof Iw taken or damaged by reason of any piddle improvement or condetttnation
<br /> ' proceeding, or under the right of eminent domain. or in any other manner. the Mortgagee e shall be entitled to all compensations,
<br /> sit awards, and any other payment or relief therefor, and shall lay entitled. at its option, to commence, appear in and prosecute in its
<br /> own name any action Or proceeding. or to make any conlprotnise Or settlement in connection with such laking or damage All such
<br /> •y:` . compensation. awards. rlanmges, right of radion 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 name on any indebtedness secured hereby . •i'be Mort-
<br /> Ili- gagor agrees to execute such further assignments of any compensation , awards. damages, and rights of action and proceeds an the
<br /> . Mortgagee may require,
<br /> S• S: That in cave 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 netit may deem necessary to protect the lien thereof that the Mortgagor will
<br /> • ry` repay upon demand any moneys paid or disbursed by the Mortgagee fur any of the above purposes, and such moneys together witlt
<br /> ''' interest thereon at the rate provided in said note shall become so much additional Indebtedness hereby secured and may he in -
<br /> 35 eluded in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premixes if not otherwise
<br /> paid; that it shall not he obligatory upon the Mortgagee to inquire into the validity of any lien , encumbrances. or claim in ad-
<br /> 1`} vancing moneys as above authorized, but nothing herein contained shall be construed as requiring the Mortgagee to advanre any
<br /> ` ' moneys (or any such purpose nor to do any act hereunder; and that Mortgagee shall nut incur any personal liability because o1 any -
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<br /> Y 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 In the Note secured hereby. or
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<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 /> f i, debt secured hereby due and payable without notice, and the Mortgagee shawl 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 adepmcy of any security for the indebtedness se• -
<br /> '}Ft . cured hereby, to enter upon and take possession of the mortgaged premises. and to collect and receive the tents. issues and profits
<br /> is thereof, and apply the name, less cowls of operation and collection . upon the indebtedness secured by this mortgage: said rents,
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<br /> d issues and profits being hereby assigned to the Mortgagee as further security for the parymenf of all indebtedness secured hereby .
<br /> ;.i!): " 'rhe Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said prem -
<br /> ises; renting the time;" collecting She rentsk revenues and income, andit may pay oil of said income all expenses incurred in rent -
<br /> • i ing and . managing the Marne and of collecting the rentals therefrom. The balance remaining. if any. shall he applied toward the
<br /> { discharge of the mortgage indebtedness. This assignment is hi terminate and town• null mid void upon release of this mortgage .
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