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<br /> ; 76- 001160
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<br /> THE MORTGAGOR FURTHER COVENANTS AND AGREES :
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<br /> That the Mortgagor will pay the indebtedness as hereinbefore provided. ,
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<br /> That the Mortgagor is the owner of said property in fee simple and has good right and lawful authority to sell and
<br /> convey the same and that the same is free anti clear of any lien or encumbrance : and that Mortgagor will warrant and defend the •
<br /> 1, , . „ title to said premises against the claims of all persons whomsoever.
<br /> , To pay irntnedia Lely when due and savable all
<br /> 1 general taxes. special taxes. special d:ce.amenl.c water charges, sewer serv-
<br /> ice charges, and other taxes and charges against said property . and all taxes levied on the debt .secured hereby . and to furnish the
<br /> Mortgagee, upon request, with the original or duplicate receipts therefor. The Mortgagor agrees that there shall be added to
<br /> each monthly payment required hereunder or under the evidence of debt u : red hereby an :annum estimated by the Mortgagee
<br /> n a to be .sufficient to enable the Mortgagee to pay , as they haeme due . all taxes assessments. and similar charges upon the prem.
<br /> pf ises subject thereto; any deficiency because of the iitstdhli • :cy of sa-II additional payments shall lie forthwith deposited by the
<br /> 2 Mortgagor with the Mortgagee•ee upon demand by the Mortgagee Any default under this paragraph shall he deemed a default in
<br /> t payment Of taxes . assessments.nts. nr similar charges required hereunder.
<br /> . The Mortgagor agrees that there 'hall also he added its rich enmihly pa I i
<br /> p: , pave Ip,d and 1I t r sr required here -
<br /> under an ani ant PSI im at ell illi the Mortgagee is . be sufficient to enable the Mortgagee I . pa} , a . it heroins ilio• the insurance
<br /> PU4111llln on any las: faller pnldey delivered to the Mortgagee . Any deficiency because of the insufficiency of suet additional pati-
<br /> ,, . mini . shall be forthwith deposited Icy the Mortgagor with the Mortgage, uqu , c, d, /11111111 by the .Mortgagee. Any default under this
<br /> iparagraph shall he deemed a delimit in the payment of uumrance premiums. It the lendit • . r policies cies fiensltedaas are Srk) home -
<br /> „ t , avenin nr all risk policies. and the deposits arc insuttiri, nt I " pity rho emu ° premium . the Mortgagee may apply the deposit to
<br /> ti fly pronouns on osis required ti , lie in.urrd by this int Ices
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<br /> ft*. - Payments made by the Mortgagor under the diywe paragraphs lunyat the option of the Mortgagee, lie held by it and
<br /> r. nom a :dell .with other such tuna or It.. own fund% for tier pays . cit o1 such amts. asci until so III /Piled . such pavno• nts are hereby
<br /> ple•el {•ed as security Mr she unpaid balance oi the mart ase indebtedness
<br /> t •11ne:x.
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<br /> ( Tu procure dcliv , • r to. ; inti maintain Lor the benefit of the Mortgagee during the life of this mortgage original policies and
<br /> ' renewals thereof delivered at least ten d;nbefore the xq it ti on of anymei: polirie s. insuring agn:tct tire and III her insurable
<br /> ha,ards. ea mu dui nal nlluue n i as the \ 1 rrgag a . rflfIll re . III an amount equal to the indebtedness .eonrid by ibis
<br /> ` mortgage. and in companies : Ica ptahle to the Morb : ager, with ie s payable clause in favor of and in form acceptable to the Murtga -
<br /> 1 .F • x. In the cit any I hew r+ not r' n.•w, n or halon tell da t " 1 its exp iralnn. the Mortgagee may procure insurance on the
<br /> improvements, fay the premium therefor. anti . 0 h ' inn sh;dl i ICC fur immediately due and pitiable with 1rite r •st at the rate set
<br /> Lath in said note mini !coil :mil . hall be secured ure, i b•: this rengage. ! ailuro on the part of the Nlortgau .r to furnish .such renewals
<br /> as are herein required or Latino t ; !;1 \ WV ort`l IffiVallred f r ,ntier shalt t the option , li the .Mortgau nstifute a default
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<br /> under the terms of this nmrtgage fh. drlive r : of s : e ! et* lie , s sham in the I ye• nt ii default rOlIcktIIIlte an a•‘:ignnlenl of the tin-
<br /> t : : • Astra •d premium.
<br /> :tux sura : mato ern ny Iiw Mortgagee hi reason ( 1 Lr . . ter damage in'lIrrri against may he retained by the \ lortgagee
<br /> fie' and applied toward the pas men of the debt hereto sauteed . or at the option of the Mart „ig e such sunt. .either wholly or hi i
<br /> part. may ia. nam twer to the 'dart t I r to he i( 1 ..c. t he n ! iair such holdings or to build new buildings gs in them place or for any .•
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<br /> other purpose or idurci . itis art. ry to the Al rt • aoe .with nn atIT. riMC the lien on the mortgage for the full anIIIIIIII ,u•ured here .
<br /> lo, betook such ! Pal Milli eye r took Pian.
<br /> To prornptlye pair. re =tort* or Irbn
<br /> t ! AM' kJ ] if , . r I :nhuemnu I ,
<br /> ryrver hion n the promises which may he -
<br /> ,..„ conte dame_. d or destroyed to keep soul preuu .e•y In 1100Ii n ' anti r• nalr ani free iron any mechanic 's lien or other lien or
<br /> claim of lien not expressly :Mao-dittoed to the Igen h , • re, f . nut to sutler or perm ; eine IlnhnwtIli use of nr any nuisance to exist on
<br /> said property nor to pernnt waste In :ai , l ItrUITIllqs . fin r id • (II . :Wth r act wherein. the property hereby convexed sd all lxemne
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<br /> valuable. nor . elimin
<br /> l h or impair its value Lv ame act r nu ,i • n artmilt with all requirements of law with respect
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<br /> to the Mint gaLied promis . and the use the ren(
<br /> That shun !( ' the ni ;es fir any1.
<br /> per _ part thereof be taken or damaged by re,cum til ani, public improvement or condemnation
<br /> proceeding . Jr under the right of eminent domain . or in any other manner. the \ L , rtgagee shall be entitled to all compensations.
<br /> :Hoards, and any other payment or relief therefor . and : hall be entitled . al ids option . to commnce. appear in and prosecute in its
<br /> E own name any action . , r prra•relling , or to make any rnmpmmur or ;c tie mint In connection with such taking or damage. All such
<br /> compensation. awards. damages. right of :Nivea. and prx•r. .is are hereby assigned to the Mortgagee, who may. after deducting
<br /> therefrom all its expenses. release any nuxu•ys fee rived iov It It :pnplc the 'UMW un any indebtedness :reared hereby The Mort
<br /> gager agrees to execute sorb further assignments (if any cnrnd ens luno awar< !s damages- and rights of action and porn ells as the
<br /> EMortgagee may require.
<br /> That in case of failure to perform any of the covenants herein , the Mortgagee may do on the Mortgagor's behalf every-
<br /> thing so covenanttxl : that the Mortgagee may also do any act it may deem necessary to protect the lien thereof; that the Mort•
<br /> 1• gagor will repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes, and such moneys
<br /> together with interest thereon at the rate provided in said note shall become so much additional indebtedness hereby secured and
<br /> may be included in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if not
<br /> otherwise paid : and that Mortgage° shall not incur any personal liability bet-111150 n( anything it may do or omit to do hereunder.
<br /> t In the event et the default h •: Mortgagor in the payment of any installment , as required h7 the Note secured hereby. mr
<br /> in the performance of the obligation in this mortgage ur in the mute secured thereby. the Mortgagee shall he entitliwl to declare the
<br /> . debt vrured hereby due and payable without net ice. and the \Lc.rt[agee shall he entitled at its option. without notice, either by itself
<br /> or by a receiver to he appointed by the court thereof. and without regard to the adequacy of any security for the indebtedness se- •
<br /> cured hereby, to enter upon and take possession of the mortgaged premises. and to collect anti receive the rents. Issue:: and profits
<br /> thereof, and apply the same. less costs of operation and collection. upon the indebtedness secured by this mortgage : said rents.
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<br /> issues and profits being hereby assigned to the Mortgagee as farther SetUrity for the payment of all indebtedness secnresd hereby. 1 _
<br /> The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said nem - oily'~
<br /> ices: renting the same: collecting the rents, revenues and income . and it may pay out of said income all expenses incurred in rent-
<br /> . Ct ing and managing the same and of collecting the rentals therefrom. The balance remaining. if any. shall he applied toward the
<br /> SL discharge of the mortgage indebtedness. This assignment is to terminate and become null and void upon redeanr of this mortgage, ye* i
<br /> es, :::P.:
<br /> t ' The Mortgagee may collect a " late charge' • nut to exceed Five Cents ( 5c ) for each dollar 451 .00i of each total monthly ( .
<br /> payment more than 15 days in arrears to rover the extra expense involved in handling delinquent accounts . ts. S
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