|
� , :
<br />_; ':� <.
<br />�: �°�
<br />� . � . -.�'�'a�.
<br /> a` �
<br /> k �
<br />� , �
<br /> MORTGAGORS MAY MAKE PREPAYMENTS OF PRINCIPAL ON ANY INSTALLMENT DUE DATE. SUCH PREPAYMENT SHALL DE
<br /> APPUED TO INS7ALLMENTS LAST TO BECOME DUE UNDER THIS MORTGAGE. PROVIDED THE UNDERSIGNED ARE NOT IN DEFAULT
<br /> ' AND ARE THEN THE OWNERS OF THE MORTGAGED PROPERTY, UPON REQUEST OF THE UN�ERSIGNED, OR EITHER OF THEM,
<br /> PAYEE AGREES TO FURNISH TOTHE UNDERSIGNED lOD°/, OF SUCN PRINCIPAL PREPAYMENTS, UNLESS ADVANCEMEN7 IS PRO•
<br /> ' HIBITED BY THE REGULATIONS OF CHARTERING AND SUPERVISORY AUTHORITIES THEN IN EFFECT. ALL SUCH ADVANCEMENTS
<br /> SHALL BE SECURED BY THIS MORTGAGE IN THE SAME MANNER AND EFFEC7 AS If NO PREPAYMENTS HAD 6EEN MADE.
<br /> TH� h10RTGAGOR rURTHI:R COVENANTS AND AGRS�S :
<br /> � � 'I'hat lhn r1ort�;n�;or . will P�y the indebfedn��ss t�s Lereinlr�fort pmvidrd. � � � � � � . �
<br /> < 'r
<br /> � . . Thnt the M�irtgngor is lhe nwncr � of snid property in fre simpin nnd hns go«I ri�;hl and luwdul authority �o hi°II and ' � � . �
<br /> � cnnvey the snmrt and tliut lhe +ame is free and clerir u[ tmp lien or encumbr.�nce: nnd lh»I. MorLgagor will wurranl nnd d�d�•nd the . � � .� � - � .
<br /> tillr to snid premises ngninYL . the clnimn ot edl ��ervons whomv�ever. . , . � . . . . .
<br /> ' � � . . � 9b pay immediatel}• wh��n due und p�iyable t�ll general tuxev, spaciul l:txcv, speciai a�:�essments. wuler chnrges, srwer serv- . � . . � � . .
<br /> �f ice churges, und uther taxes find churg��s ngainst � said j�roperty, nnd s�ll taxes Ir.��ied on lhe debf sccured hereby. aud l� fiunish the . . . . .
<br /> � A1nrtgngeo,.� u�xm request. wilh lhe uriginal or duplicFrte receipts thervfur. 1'he M1lorlgugor :tgrecs qint there s{i:dl be udd��d to � . .
<br /> � � �1 ench monLhly � pnyment requirc�d hercunder or under Ihe evidence o[ debt srcured hereby an umuunt estimated hy the Mortgaqee . ' .
<br /> ` ;. � to be sulHcient ln r.nuble the aUortt;ngce �o pt�Y. .Ls Ihey bucnme due, all tnxea. ++ssessments, und similiir cl�urgra upon the prcm� ! . - � . .
<br /> is�•s subject thr.reto: nny deliciency because n( lhe insu(liciency ��( such additional pnymenfs shail 6e furthwith deposited Uy lhe . � . � �
<br /> � t�lortgngor with the Morlgagec upun demand by thr. \tortgngee. Any d�•fault �mder this pnragraph chaU I�e deemed t� def+iult in . . . .
<br /> . � pnYrnent of tnxes, :�sse�ssmenls, ur similar chnrRes rnquirv�d hereundi•c � . . � .
<br /> � � 'Che MorIK:�K��r a�;rees lh;rt there sh�dl xlso be :�dded lo raeh munthly pnymcnt ot principrd and intere�t rrquired hnre- � . � . �
<br /> + � wider nn amount ealimnted L.v !hr I�lnrtgr�gcu tu bi• sidticirn�. tn ennble Lhe I�-lorfg:i�ee to p;�1', ��s it Lvcomrs ciue. tlie inyurance � �
<br /> ��� � i � . promium on nny insurance pnlicy deli��ernd to the I�lortg��gee. AnY deliciency horausi, o( thr in+ulTiciency of such nddilionul pay- � � .
<br /> menis shall b�� fnrthu•ith depaciled by tht• Morlgngor wilh the Morlgay;ee upon dem:Md by ihr A9orl�;a�;eo. Any dr(ault tmder this . . � � �
<br /> { �� � j . pnrtigraph shall be decmed n de�fF�ult in ihi� p;iymrnt u[ insurrmce pr�•miwns. If thc• �rdiry or policies deposited arr such as hume- � . �. ."
<br /> �.� � owners or all risk policies, and ihe dcposit, ure insuflicirnt tu pny tlie entirt• � premiunt. fh�� 11ur�gager m:�y apply thr depnsi�. to � . - . . . .
<br /> `� �� pny prrmiums mt risks required to be insur��d bp this murtga�;e: ��. � � .
<br /> r% �t
<br /> �, : " � Yayments madc hy t.he \{or(F�R'�r under �he :�bove parngraphs may, r�t the uption of the ,\torig�ig��e, bo 6eld 6y it and ; � � . .
<br /> commingled with other suc6 (m�d� ur i�s own funds- for the pnyment ot such itcros, and unlil sn npplied. such paym�nts nm hrreby . . �
<br /> � �� plevi�ed ns securi(.V (�r fhe unpaid balrmre nf the mnrtgngu ind�•Ltedness. � .
<br /> �
<br /> i 7'u prncure, deliver fo. und maintuir, tor the l�enefit of lhe Afurt�akee durinF (he life o( lhis nwrlgn�e ori�inal P�>licict and � . _ . � .
<br /> � � mrtewnLti therc�f. delivered at Ieast ten days I�fore thr �•zpiration uf any such N�licicy. inaurin� a�;ainsl tire nnd olher insumhle � . . . . ..
<br /> haznrds, cusualties. ;uid cuntingencies ns the ntort�ugee int�y rr�uirr, in an amoimt rqual to the indeUtetlne=s secured by thi5 .� � � .
<br /> 1: , � . ltortgage, nnd in cnmpanies acceptable to the rfurtgagce. with luc, pi�yable clause in fa��nr n( and in fnrm acceptablr to the :1lnrtqa- : � . � . �
<br /> gee. In the event nny policy is not rene�aiYl on ur belnm ten days uf its �xpirntion. tho \turtgagee mny pracure insurnnce on thr � � . � �
<br /> " � � + improvementx, pay thc premium themfnr, imd such sum shnil Lec:�me immediately duc and paynbl�e witt� interesL at thr rate set � � .
<br /> furlh in snid not�� until pnid and shail be secured bp lhis mortgage. PaiWre un lhe part o( ihe hlorlgagnr to (urnish such renewals � . ..
<br /> ns t�re herein requimd or lailure to pay any sums nd��anced Imreunder vhall, �t the oplinn uf t}�� Dlnrtgagee. cun�titu�c n difault � . . .. � . .
<br /> � �� � imder the terms of thiti mortgage. '1'he dclivery nf such pnlicies ahall. in thr cv��nt of drfault. conslituti� nn ��ssignment n( Ihr tm• � � . . .
<br /> enrncYl premium. " � . . �
<br /> �� -j Any sums receivrd 6y the Mortgngee� bp renson uf Inss nr damage insured against may hr relained by Ihc \7ort�a�ee . � �
<br /> ;:� . .- +ind aPPlied � towarJ the payment of the debl hereby srcured. or, at thv nption nf th�+ �lorigngee, such sums eithi•r wirol(y or in � . . . . � . ..
<br /> purt. may bo p�+id m•er tu the hlurtKlle�r tu be used to repuir such 6uildings or ln huild neH• buildings in thcir pince or for any �� � . . .
<br /> ¢, � othrr purpose or nbject ��lis(eiclory lo the Morl�:n�ee withoul nRi�cting ihe lien an lhe mort�;nge (or lhr (ull nmaunt si�rured here- �. .
<br /> t:.� .� � by before such payment evrr tc�k pince . �
<br /> � +
<br /> n�. � 7'u promptly rep:air, reslore or rrbuild nny buildin�;s ur improcemrnls nnw or hen��Rer un Wo prrmi;es which may bo- � � � . .
<br /> �� � come dumnged ur destroyivl: to keep said premixrs in gcad condilion xnd repnir nnd free from nny mechxnic'�: lien or othrr lien or ' .
<br /> { d�iim o( lien nnt expressly subordin:ded to Ihe lien hereo(: nul to sulfer nr pi�rmil nny unla���(ul ux of nr .uiy nuisance to ezist un � � � -
<br /> J � � seid prnpertY I�or ln perrt�it wa;te on Said premises. nor tu dn nny other �ct whorehy thi• pruperty hen•by canveyed sh�Jl bi•rome � � � . .
<br /> �- Iens vnlunble. niir lo diminish or impair its vnluv by :my acl nr nmis.tiiun tn nck fn compl�• �eith all rrquimm��nts uf law with re;pec[ . . . .
<br /> � to the morl�aged premises nnd lhc• use thereo(.
<br /> :,
<br /> , 'fhal shuuld the premi+rs or any part thernu( ln tnkrn ur dama�ed by reason o( any public improw•ment or condemnntion �
<br /> prncee�ling, or under the right nt eminent domuin, or in any olher rtutnner, the Aiurtgagee shal! br rnli�led tu nl! com�xnsatimu, �
<br /> " � �wards. «nd any othe•r payment or relief therrfor. and xhall be entiNed. i�t itc uplinn. tn commencu. nppenr in .�nd pr«i�cuie in iL9 �
<br /> i . ; awn nar�e nny aclion or procreding, or to maku any cnmprumise or srlUement in connection with such takin� ur duma�e. All such
<br /> compensution. awards, damssKiw, right uf aclion and prornids are hereby nssigned to thr Mort;;agc��. who may. sdter deductin�;
<br /> �` tlierrfrom ull its expenses. release nny muneys Fo rcYeivvd hy il ur npplY ihn same un +iny indebledneks sc�cured }urreby. 7'h�• Jlnrb
<br /> y� gngor agme, fo execule such furthrrr ns5i�nments of flny cnmprnxntiun. ruv:irds. dnmagrs. and rights nf �iclinn and prc�mrrls as the .
<br /> � ltorlgnFce mny rcyuirc. �
<br /> �
<br /> ;� � Thut in ctt�i� o( failure t�� perfnrm nny o( thv covennn�s herein. thr Atortgu�;ce may do nn the �tort�;agor's f�chal( eeerything
<br /> u� rnvenunted; that lhe D�Iorlgugee may nlso do uny act it m�p de��m nemticary in protecl tbi� lii�n t}��reaf; thnt the �inrlgnK��r will
<br /> �r� �� repuy upon demnnd any moneys pnid or disburacd by the \lorlFa�rr, fur nny o( ihe xbuvc purprnes. ;md such moneys together �cith
<br /> k' inte.rest thercon ut thc rntc provided in said note shnl! bccome su nmrh additional indehlydnesa hrreby secured nnd mny br in- - �
<br /> _' cluded in nny decme fornclusing lhis mortgage und be p�id uut u[ thc renL+ or proceeds uf valr nf v�id premis�•s i( not othenvise
<br /> puid; thut it xhall not I�e obligntory upon the Dlurigagec ln inquire intn lhr validity of any lirn, encum6rnnci•s, or claim in nd• �
<br /> � euncing tnuneys us nbove tauthorizrd. hut nnthin�; herein can�ninr<I shall IK• cunslrued ns r�r�uirin� lhe �1nrt�:ngre tu :idvnnrr. any �
<br /> moneys for uny such purpose nor to do any ni•t h��rrm�der; and that Murl�;nl:��e �hnll nut incur nny persunat liability breuus�� o( any-
<br /> lhing it may do or omit fo do hereunder.
<br /> In lhe erenl o( the default by �iurtgnF�r in the p�yment u( .my invttillmeni , ns nv7i,ired hy thr Nnte +ec�ved hrr�by, ar
<br /> � in the {xrformance of the oblignlinn in LI115 RIOft�,U�C Of 10 the note sirured therrhy, the blortgagee shall be entiUrd tn drelnre thr
<br /> drbt securcd herehy due nnd paynhle wi�houl notice, and the �1urtge�;ee shall be entiQcvl ut its uption, without nulice, i•i(her by itsel[ �
<br /> or by a receiver to Ix nppuintecl by the court thereof, nnd wilhout t��gurd to the adcquacy ut any securily For the indebfedness sr- •::.! � �-�
<br /> cured hernb.V, ta enter upon nnd take p�cesvion of the mortgnged premises, and to collect and rrccive Ihe renls, issurs nnd pro(its � '��
<br /> :. thereot, und apply the vatne, Iess cosls of operution nnd colicv:lian, u{x�n the indeblednecs u�cured hy ihis mortgntiu; said renls, ; �
<br /> issues nnd profitv bring hemby av.aigned lo the Mortgagee av (urthrr srcurit�• for fhc pnymrnt ot nll indrhtrdness se�a�urc�d hrrrby. . �. .
<br /> � � � The Mortgagce shall Lavc thc pervcr to nppoint any ngent or agents it mny drsire fnr lhe purpase nC rrpairing s.�id prem- �
<br /> . ir�es; renting the aume; rnllecting the renls, revenuev and incomr, und it may pay oirt of .nid incum�� nll expencrs incurnsl in renb ~
<br /> � ing and manu�,�ng . the snme und u( collectinK lhe renkds thereRum. 'I'hr Lalance remainin�;, if any, shidl hi• ;�ppli��d towrird thv - �t�7,) � �
<br /> � dischargc of thc mortgage indeLledm�.v. 1'his �iwignment ix tu terminrdr and Iwcnmr null and void upnn rrlrus�• of thix mnrt�;n�;e.
<br />�} �
<br />�..
<br /> j`u:
<br />�=` f�.�.- � � .,_. L— . . . �
<br />
|