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<br />'�' � � . 76- OC1621 � �
<br /> MORTGAGORS MAY MAKE PREPAYMENTS OF PRINCIPAL ON ANY INSTALLMENT DUE DATE. SUCH PREPAYMENT SHALL ➢E
<br /> p. � � APPUED TO INSTALLldENTS LAST TO BECOME DUE UNDER 7HIS MORTGAGE, PROYIDED THE UNpERSIGNED hRE NOT IN DEFAULT � �
<br /> � AND ARE THEN 7HE OWNERS OF THE MORTGAGED PROPERTY, UPON REQUEST OF THE UNDERSIGNED, OR EITHER OF THEM,
<br /> �• PAYEE �AGREES TO FURNISH TO THE � UNDERStGNED 100% OF SUCH PRINCIPAL PRfPAYMENTS, UNLESS ADYANCEMENT IS PRO• � � .
<br /> � . HIBITED BY THE REGULATIONS OF CHARTERING . AND St1PERYISORY AUTHORITIES THEN IN EFFECT. ALL SUCH ADYANCEMENTS � � . . .
<br /> � 5HALLBESECURED BY� THIS MORTGAGE 1N THE SAME- tdANNER AND � EFFECT AS IF NO PREPAYMENTS HAD BEEN MADE � � � � � �
<br /> THE '�fORTGAGOR FURTHER COV�NA2VTS AND AGREES :
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<br /> � . . � 'I'fiat � tha htorlgngor ���ill pay the indebtedncac ax hercinbrtore� prnvidrd. . � � . . � � . . � . . . .
<br /> � � . � That Uir . hfortgngor is thc mcncr of said pruPt•rh• in fer simplc m�d has ;:n«I ritihl :+nd It��cCnf authuritc In sell and � . � . .
<br /> � croneep . the same and thn[ thv eame is free and c(car of mi}' litn or rncumhr;mc�•: anrl that �Inri�:�i:or wil! wnrrant :ind � d��f��nd ihe �� � . � � .
<br /> � title t�rsaid . premise; ngainst ihc clt�ims .ut ull porsons ��'homsoev�•❑ . . ' . . . . �� � .
<br /> . . . � To pay immedi:�t�•Ip i��hen duc and paynble sll general t+ixes: sp�rint luxes, special xs.cssma�nis, �c<derrhnr;:es. ���wer errv. � � . . � � . � ..
<br /> � ice� cburges. and other tasri and cliarges agein;t snid prupert��. and all lax�; ]rric<! un the debt sei•ure.d hereb�•. :md lo furnish ihe : . � . �
<br /> . Alortgn�;ee, ❑�n r�s{uesl, with the original or <luplicntc nreipis iL��rrfnr. '1'}ie Atortgugtir agri•es that there shall be ndded tn . � � � � �
<br /> , Pach monthly pnymeiit requinsl I�ereundi�r �u under tUn evidi�ncc u! dr6t. secumd }���refx• .m amnunt e.timated by' the �tortg:i�;ee � � � . �
<br /> . Yo. he �sufticient to ennhle the '�fortt;ngee tu pny. n. they bi•cv�me dur. nll taxe; i�ssrs;ments, nnd .:unilnr char;;ea u{wn � th� prem� � . � � � � .
<br /> . iu�s �ubjer.i therclo; any deficiency berxu,e of the insutticicncp ot .sucii additianxl payment� shall he forthwith deposited hy eho . . �.
<br /> � \fnrtfingor wi�h lhe ?�lnrtqagee � upon demand by tho � �tortgn�:ee. Any default undrr this �r,�rngr:+ph shall be dcemed n d��(ault in � � � .
<br /> . . payment of taxrs, as.rssments. nr SIIt11Iflf :harrc; reqnired h��reandre � . � �
<br /> , � 'Plie ktnrfga,eur n;;re�� Uiat therr �Lall o-iLsu Iwr acid�•d lu i�;ac}� m<;nthlp pa}•mcmt uf prinripal nnd intrrr.t rrquired here- � . � . . . .
<br /> . � under an. amount rslimated lry thr Vorltiagee io I+.� sidiici��nt to i� n�61�• Uio \lurtg�ageer to pay. as it tir��uuie. due. tt:e imur:inre � � . . � .
<br /> prnmium ��n any in,urnnce pntic�� dclivert�d tn th�• �turtga„ee. :�n}� de6ciener brcaus� n( ihr in=ulficiencp af such ndditional pa}�- . . . .
<br /> " � . ments sball he (orthwith dep��.,ilyd by �hr \lurh;a�;ur wilh Uir \furl �a��x• u�x�n d��m:�d !�n• lhc �fnrtga�:ec-. Aqv default w�dec this � . � �
<br /> *��'; paragraph shall Irc• d�s�med a defxult in thr pay�menr uf in>uranca premium.c If Ihe �wlice nr poli�•ies dcpusite•d are such ns hnme- �
<br /> . oa�ners ur ull risk policirs, and th� d�•��,�sits arc ineuNirient. ia pny � h.� entire premium. thr Atortgagce m:ir applv ihc depasil {o . . .
<br /> ptiy prrmiuma on risks myuirud tn br inxurrri by fLis mnrtt;aRe. . � � . . � .
<br /> ��.� � Yncments made iiy � he \tortRakor undr-r thr aboec puragraphs :nny. at thr npiion o[ the �turtga�;ee, h�� hrld by it and � � . .
<br /> ! commingle�l with othor such fm�ds or iis own tund.=. !or thr. p:iyment of surh items, and until Fq 3�1�1I1ML VUCII paymont+ nm h�•reby . . . . .
<br /> pirriee�i as srcuriiy for � he �mpaid belance ot the �nnrlt�ape indrbtedness. . � �
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<br /> . 'I'o prucum, dcll��er tn, and muintain tor the benefit nt thi� \fort�:a�;ei• during thi� lif<• o( l6is nu�rt�a4r. origin�l policirs and . � . . .
<br /> � � mnewaLs theri�t, delieeresl at 1.•a.t ten dnys fx�tore tl�i� eapirntion of any� such policies. insuring n�;uinnf tire imd othi•r insurabie � � � � �
<br /> �;,. . haznrds. casualties. and cuntingencies as the 1lorig�iger. ma}• require. in nn amount cqual lo ihe indebtrdness srcured by this . � . �
<br /> �tortgnge. nnd in comP�nirs acr�•ptable to tlie �tortgaEer, ++�ith Ins, pa}•ablc clause in ta�nr u( �nd in (nnn acceplx6le to thr \lurtga- � � � . . � . �
<br /> �� ;,ee. In the �•vent anv pnlicy is nut r<�neu�ril on ur brfore ten dncs u( itv expir:uinn. the \toriFn�er ma�- procure insuranee on t}ie � .
<br /> improvemeni�. pay the premium thcre[or, and such siem s6u11 )x�;:>me Imtni�diately duP and p�yahle �ei�h intrrrsi. at the rat<� �et � . �
<br /> . (arth in ssid note until paid and shall Ix ��•cured hp ihis mortga„c. Fniturc on tho part <d the \iort�;agor tu (urnish such renew:ils � �
<br /> �" �� a; are herein requirrd or failure to pay any sums a�ivance�i hereundrr ;hall. at ihe uptinn o( the :VnrtFx�ee, cnnsfitute a dr(ault � � �
<br /> c�� � undet ihe lemvc of this marignt;e. 'The deli��ery� nf su<•h pnlicies �l�all. in the r��ent o( rli•faalt , con�tihdu an nssi�;nmrnt nf ihr un• . � � � � � .
<br /> " �. earncKl prrmium. � . � � � �
<br /> v�. . An}' sums .recrived by �hc Mortgagm 6�• r�•asun ot I�,s. or dnma�;e insured og�inst may bi� rrtained by t6e A[ortF�gou ' . � - � .
<br /> ' � and applical fowxnl the pxyment nt ff�e debt f�enby secumd. or, n: fhr uptinn o[ thr A1nrt�agec. such sums eiihrr wholl�' nr in � . �. . .
<br /> °;� - -� pnrt msy b�• paid o��rr to thc I�Sortti:7Kor to be u�rd to rrpair such buildints or tv huild ncw� buildin�s in their place or (or any .
<br /> �. , nthe�r pur�xase ca ohjrrt r,ativfuclor}• io lhr plurtea�ce wi�huut �fTeciin� thr lien on the martca�e for the full amnunt srcured hrre- . �
<br /> liv be(ure such pa}�ment rc�•r tcrok place � �
<br /> R' � To prumptl5' mpair, rrstorr or n�build any l,uil�iincs nr imprucrmentc no�r or hrreattrr � �n the prrmises w}�ich ma�� ik- � �
<br /> K. � cnme dumagc�l nr deslroy.vt: to krep cnid premisrs in �ch>d cundition �ind rrpair and trrr from any nu�chanics lirn �r uther lien or . . .
<br /> .. claim o[ lien not espresclp suV,irdinuted lo ihe lirn herrof: not. to ..uRer or p��rmil anY unlal.•(UI u.e uf ur any uuisance to ��sist on � . . �
<br /> � said pmperty nor to prrmit w�iste on �tid premisee, nor tn do any other act whoreb�� ih�• prnperh� hi�re6y ronveped shnll M�eomr . .. .
<br /> R. , li^ss valuable, n�u fo diminish ur impnir it, valu�� by any art or nmistiinn �n ;zct : �u c�,mplp �oith nll rci� uirem��nts u( I.�w with re:pect. �� �
<br /> � fn thc mortp,nged prvmisi�s and ih� use thrreof.
<br /> � Thal chould ihe premises i�r nny part therenf fn� IaL-en ur dam3ced hy mas�m r,i tiny pu6lic improvrmi�nt nr crondemntuion
<br /> procectiing, nr under the right o[ eminent domain, or in any other manner, thr �longncee =hal1 br rniitlt�d tu all cumpensatioas.
<br /> ` aw'ur�. and unY nther payment or relirt therefur. and shall be cntifled. nt its opiiun. �o cummrnm. �+ppoar in and pr�.uruto in its
<br /> �! - oa�n nwne any uction or proceeding, ur tu �nake any cnmpromise ur settlemenl in comirrtiou ��itn such takin� ur damage. All >uch
<br /> � rompensxtion. awurds, dnmaac�s, ri�;ht a( action nnd pnueevis nrr hereby ;is,i�;ned tn tne \]ortgagec, ���}:o may, after deJucfin� �
<br /> : therefrom all its ex�xasr-s. relruse any moneye so recvivivl by it or appl}• Ihe ,nm�� un anr indrbtednezs �e•curivl herrhp. The 1lort-
<br /> �� �. ge�or nQmi�s lo erecule such furthcr assi�;nmen4s o( ,iny rompi•ns:�ti��n. a�cardq. dam.q;ei and rit;htn ot actiun nnd proc�•�Yis a, the
<br /> ?� �� �tortgngee may require.
<br /> 5�� � That in c:� uf failure tt� perform nnp of t.he co��enants hc•rein. the \torl�;a�ia• may dn on the Alortg;+gur'c heh:d( i•vr�rpthinF
<br /> r . �o mvennnted: lhut the \lortgagee muy nlau do any :ic[ it may deem ni�ce�carr fo protect ihe li�•n IherrnC lhat the 9lnrtgagi�r �eill
<br /> �. repay upnn demand any monrys paid or disbursed br the R1ort ;;a;:re fur any uf tho abuve purpcees. nnd sucfi moneys tngether with
<br /> �� � interest thereon nt the fat�• provid�Yl in snid nnte shaU fK•com�� so much additinnal indebtrciness herebv �i�cured :md mnv tx� in-
<br /> � - cluded in nnp dirree (��reclosing this mortgage ;md tx paid out of the rentv or prncreds nf uil� o( said prcmisrs if not nthen+�ise
<br /> � pnid; thut it xhall nut be abligatoro upon the '�inrfengee tu inyuire intu the �;1lidity of anp lien, i�ncumtrancr�, ��r clnim in �d-
<br /> �. vancinR moneys as abo��e �uthorized. but nn� hin�; herein cuntained ,h;�ll l.rr eonstrued ati nK�uirin�; the \lnn�;agee ��� mWance an}.
<br /> � ' moneys for nny such puq�ose nor to do any act hereund<•r, and thut 11orfFn�r�� sh:dl not inrur an1' P�'rsnmil liability brraucr oI any-
<br /> '�� ihin� it muy do ur umit to do hemunder.
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<br /> In the e�•ent o( the deCault 6y At�,rigagur in thr payment uf any instulim�•nL az rrquired L : Ih�� Nutr crcured hrn-bv. or
<br /> in the+ per(ormunce ot thc d>ligntion in this mortgage or in the nufe �rcure�d thereby. thr \tort�agee shall br entitiod to d�•clare thr �
<br /> debt secured herehy due rmd payable K�ithout notice, and th�� Atnrtca�;ro shull 6c en�illyd at its uption, «�ithuul nutit•e, rither by itK�lf _ � . �
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<br /> or by a receiver to be nppuinti�ci by the court thrreof, and wit}�out regard tu the ad�quacy uf any �rcurity fur the indebtedniws se- . . . ..'-=R��„
<br /> . cured hereby, to enter upon und take po,sNssion o( the murt�;a;;ed premisvs, nnd to collcr' and recriee the renLr, ��nurs nnd Pruf�tg N
<br /> thermf, tmd apply die same, Irss costs ot op�ratinn und colkrtiun, u �x�n the indeblednesti urured hy t1u, mnrtka�e: said renu, ' �
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<br /> iesues nnd prcrfits bein� hereby Hssigned (n the A'Ioft�aF�'F• As (U�IItCf cIK•llfl�y' �nl' (I1P �10\'TllCni o( all indrbfrdnr,s t�rured herrby. � a� Y� ���
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<br /> � 'I'he AlortgugcK+ �;hnll have Che pox�cr to appoint any agent or .i�;r. nt� it mar desiri� for ihc• purp�scr o( rep;airint; v�id prrm- '1� '
<br />�_ � . ir.�s; renting the snme: rnlleeting the mntc, revenues and ineame. t�nd it may pay uut of said uuY�me :dl rxpens�•; incurrr.i in ront - � - . ' �
<br />� . . � ing und mana�,�n� the siime and o( collectin� ihe rentats thr. ndrom. 7'he halance r�•mainin�;. i( an��. sh:dl h�• applii•d t�rn�arJ Ihr � ,�
<br /> dischur{;e oi the mo7tgage indr6t��dm>vs. This a�rignmrnt iv tn trrminide• and iH��•umc� mdl ;and vnid upon mli•�aw• u( this in��rt ¢:icr, �. . .
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