|
�:sr � r
<br /> tis�� . , � ��i�►
<br /> ..:�..
<br />� � �
<br /> ti�
<br /> zn L
<br /> ii' . �V"'U U � J U� v, � . .
<br /> T�fE . MORTGAGOR : FURTHER COVENAN'PS AND AGREES:
<br /> - �. 'Chxt lhe Mortgagor will pay:the indebtedness as herein6eforr provided. . �. � � : � � �
<br /> � That the ASortqagor is the tiwner n( said proparly in Iou simple nnd 6ns goMi right nnd law(ul nuthority to sell and � � � � � . � .
<br /> convey lhe. same and thah. Lhe same is free and ciear of nny lien nr encumbrance; and that Morlqagor will w•arrant � and defend th� . . � � � �
<br /> . � � title to said �premises aqninst the claims � :ot . ail persons wh�xnvoevec � . � � . � . .
<br /> � � '1'o pay immedinlely�- ahen �due and pnyahlr atl g�+qeral t�xes. spicial t.�xes: specinl u+vc�;srncnt;. �raler charges, sewor serv- . . . . . � � .
<br /> . �. . . � icr, charges, nnd� other� taxes und ehnrges ;igainst said propecty. and nll tazrs Ievic•d mi ihe debt serured h��mby, and tu (urnish tlie � �
<br /> hlortgagee, ut�n requerst. N�ith� lhe urigins�l or duplicate ruceipls therrfor. � 1'he plurt,;agor agrres lhaL . tliere shall be udded tn � . � . . .
<br /> � each monthly . payment rcquired hereuiider nr under Ih�� �•vidance u[ debt. sicured hrrrr-6y an amnunl r;lirnale.d by lhe Mnrigagee . �
<br /> to ��bi� su�cient ��� to�:r.nnble 1he A7orfgagee � to pay, as lhry Lecome duer,. alLtaxcs, assessmr. nls, and :;imilar clmrges u�wn tlie prem• �. � � . � �
<br /> , iseB � Subject� theretn;� :mp doficicncy l�ecause u[ thr iiisuRci�nuy of such Ldditional payments s6all 6e Girthw�ith- depusitrd by the . � � � � . . .
<br /> � � � �inrl a •or �viUt the A4urt •u ;ve u wn damand b � thc ,41urt :a •ur. Any default wider this �nr;� ;ra h sliall hc dr��med � di�:;mll in � � � �
<br /> 5' 6 6 t I } I 6 ' I f P
<br /> . . �� �mymenl nC faxes; assesaments, or �' simil:v <•hargex r<•quired hrrnunder. . � . .. . � . � � � . .
<br /> � 7'he . ilnrtt;agnr atin:es l6at . there shaU alsu Ix• .�dded tu . each monthly payrnont nf principal and int�vr.t ruquired here- . � � . . � � .
<br /> _ under �n amount i�siinia(ed hy thr bforlgagee lo be sufficient to onuble th�• Alorlt:;igee in pa}�, as it hrcnrnes due, tlie insurance . .
<br /> .. premium on nny in+mr�ncc poliry rL:livered to lhr, �dor(gagee. AnY deficicncy becau,e oi the insu�ciency u[ such udditional puY' � . . . .
<br /> � ments shall ha forthH•ifh� drpnsiti�d by lhi• �� MnitgaFor a�ith fhe � llorq;age.� uphn dr•mand Iry� lh� ;Llorfgagee. Any i1r•fnult under this ' . . .
<br /> '�- p:vagrnph shnll 7Hr deeniod a drh�ult in the pnyrm,nl nf insuran[•e pretnimns. I[ tLir pnlicy nr palirirs drposited arr stleh� as Irome- . . �
<br /> .i � �iv:ners nr nll risk �mlicies, and thr� de�wcits nre insufticient to p�q' lhc !,ntirr premium, tlie b1nrtgng�•e m;�y apply the. �drposit to � . � � . .
<br /> ' puy pu�miums . on risks required tn bc� insurcd by this morlgagc. � � � �.
<br /> i: :
<br /> � Pa}•tnents madr by Lhe :17urlti�gor w�der Uir aho���= p:irnl:taphs mriy. nt d�c u��rfimi uf thr �1ortSngi'c'. h�� huld ' hy it and
<br /> e comminglyd with other sich funJ., nr its nwu (unds fur the pnyment o[ ,urh ilrrti.;. and uulil co npplird, such pnymenL are hrrr�by , . .
<br /> � pleYlged as necurily for� the unpaid b:�l;mrr� nf thr morq:at;�• indebledm•,s. � � . � - , .
<br /> �;� ' . � - � - . . . .
<br /> . Tn procure. ddiw•r tu, and maintain for llie benr(it uf lhr hturtgagce during [h�� li[e o( this mnrtgage uriginal policies und . ,
<br /> � renewnla . thenn>[, . Jelivrred �t Ieasl len d;rvs b�dum Ihe i�spiratiun nf any such policies. insuring against fire and uthr. r insura6lc . .
<br /> .� haznrda, r.asuulties, nnd contin�encics av lhc Afortgngee m:+y rrquire, in an ;unount equal !o the inde6tednesy secure�i hy this . .
<br /> v� � 711odgage, und in companies 'nca�ptable tu Uie Mnrtgngee, with In=_s payable clau�rz in fnvnr uf and in furm accrptsble tu lhe Alartga- � � �
<br /> - �. gec. In tBe event any pnlicy is not rrnuw���d un or bnfure tun dayv uf it, er.pir.ilinn, lhc� �:mtgagee may prceure insurunce on the - . � .
<br /> s�: ' imprnvrments. pay tLi• premium Uiere(ur. und �urh surn shall becomr immrdiatclY due and pnyable wilh inirru,t at lhc r:�te serl . . . .
<br /> - for4i in said note w�Nl paid :md shidl Ix� s��cured by this mnrigage. F�ilure un lhr. part n( the Morti;�Sw tu [urnish �such rrnewals
<br /> ��. as am hriein reyuired ur Fnilure lo p.�y any sums advanrrd humundor sh.df. at thr optiun of the Rtmtgagee, cunstiluli� a d��tault .
<br /> ' � under thr tennv of lhis mnrtga�;r. 7'ho d��hcerv uf such pnliri,., s.h:Jl. in thr rv��nt o( �Iofault. cnnstilute rin assignmrnl o( (he� um . . .
<br /> � ' e.�rnnl premium. � � � � � �
<br /> An}• sums ri•ceivr. d 6y lhr \lurt�;agee I�•v rr,�;un of inss nr dam:�ge insurod �igainst may he retveined by the �Inrt{;agee � . .
<br /> , xnd applied toward the pnyment u( lhr Jubt hereby sccured. ur. nt the nption n( the \]arttiagee, surh sums �•ithrr wholly ar in
<br /> - : �purt may be paid over- to lhe �lortgegor t" fH� . usrd ln mpair such 6uildings nr to build ' new huildings in their ���larr or fnr any � .
<br /> other purpose ur objecl s:�lisfaclury to thr �tortgagee wilhuut. ntircling tlie lirn on the murtgage for �hr (ull flmount c�•cured hcre� �
<br /> � hy before such pnyment ev��r L�rok place. � �� �,
<br /> �: 'Tu ptuinpllY rrPuir. resfurc ur tchuild uny Luilding, or i�npruvemi�nLs . now• ur hun•a(ler nn llir premiti�•s whirh ma}' lu�. . .
<br /> ��; ' come damaged or drstroy<d: to keep .�aid premi,es in „r,�d condition :md rep�ir nnd [rer from nny mechanic's li�•n or other lirn or �
<br /> � dnim of licn nnt expr�stly sutxxdinaled lo lhe lien hen•uf�, n„t tn .ulTiv or prnnit any unlawful use uf ur any nuisnnar to rxist an �
<br /> i
<br /> said pruperty nnr in prrmit �a�uste un said pr��misrs, nor lo do any uther act a�he�rrby thc property herebl' cunveyed shtill I�ecome
<br /> �� � Ic•ss vnluabie. nor to diminish or irn�i�ir ils vtilue by any ;icl nr omis.tiinn l� � :ict : in c�nnpl}� wilh all mquirrmenis u( law with respect �
<br /> � fo the mortkaged premises and thc ose thrrco(.
<br /> k,`
<br /> ' Thal should thr premises ur iiny parl thrrcof 1.• f ��k�-n ur JamageJ by r�•asiin o( :u�c puLlic imprrn��ment or cundemnation
<br /> S roceedin or wtdcr the ri ht of eminent d��maiu, ur in ,my olher manner, the �1nr1 � � i shall br rnlilled to ;dl curn �ensatinns, �
<br />. �' . � f:. F t�% !; " �
<br /> , uH•ards, and any other payment or relief thrre[ur, �nd shall be entillyd, nt its optinn, tn e��mmence, np��ienr in and pr�xcrute in its
<br /> . uwn name :my actim� ur pnx�eeding. ur tu rn�ke ��ny cnmprumise �,r svtUcment in runnecliun w�ilh such taking ur damage. �II such .
<br /> . mmpensnliun. e�wards. dumages, right o( aclion and prucersls ure hereby assignrd tn the blortgagee. ���ho mny. after deducting .
<br /> � theretrom ¢II its eapenses, release any moneys su received by it or apply the same un any indrbtednesv secured hemby. '1'he Mnrb
<br /> . gagor ngrees lo ezecute such further assigmnenls nf nny cutnpensatiun. .nvnrds. d�magre, and righls n( actiun :�nd procceds as thr
<br /> t'�.. � 11ottKngee �may rn,quire.
<br /> � 'I'ha6 in cnse uf failum to perfurm any u( tlu� ruveneNs hrn�in. the Atortgagcr muy d" on the Alorttingor's bvhnlf rvrrything
<br />' "� � so covenxnted: thnt lhe Dtortgagee may 'also du any tict it may d��vm ni•crss:ap• t�� prnti•ct the lii•n thrrrof: ihnt thr �tnrtg:��or v.•ill
<br /> �� . rr m u on demand nn mone v iuid or divbunrd hy thr Aiorl„^a �rr R�r an}� nf the abuvc �ur xrsrs, and .uch mnn��ys tu �e0ier w�ith
<br /> [ Y P Y Y- 7 6 f 1 R
<br /> � inlcrest thereon nt the rntr provided in said nuti� �;hall b�•camr .cn mueh addition:d indrMrdn�•4. herrby =,•crured o� nd may Fu� im
<br /> � cluded in nnY decrre foreclosing lhis murlgagr und Le paid uul. u ( the renLs or proereds of s�de of said prrmises if not otherwise
<br /> paid; thnt it shnll not be obligalory upnn thr �tnrtgager tu inyuire intu the vnlidily o( any lien, uncumbranr.e•s. or claim in ad- �
<br /> � vancing moneys as abnve ;wthorized, but nothinK herein cont�iined shall Ix� construed ns rt�c�uiring ihe Mort�;agee to ndvance +my
<br /> ,�e. � moneys for any such purpose nor to do any nct hereunder; and that Mortgagee shall not incur any pervunal liabilily hecnus�� o( nny•
<br /> ` '�� thing it mey. do or amil to du hereundcr.
<br /> " ��. In the event of lhr de(xult by �tortgugor in thr payment uf any installment, as required by the holr .ccumd hereby. ��r
<br /> in the pertormance o( the obligatiun in this mortgage or in the nute si�cured therrhy, the Mortga�ce shall be rntitlyd ln drelare thr
<br /> �- � drbt secured hcreby due and paynhle wilhout nutia�, and the lfortgng��e sh;il! be entiqed at its option, �4�ithout nuticr, eitlier by ilself
<br /> _ or by n receiver lo be nppointrd by the tourt thereof, and without rrFard lo the adrquacy of any securily fnr lhe indebtedness se-
<br /> � cured hereby, to enter upon and take possession� o( the murf��ged premi�es, nnd to rnllrct and receive lhr renl., i�,sues nncl profits
<br /> ?� . thereof, nnd apply lhe svne, .lrse cr�sts nf operation and cnllection, upnn thc indrbt��lneca v�cured by this mnrtgnge; suid rrnts,
<br /> � i4sucs and profifs beinq hereby aesign�d lo lhe hlnrt4�+F�'e a+ (urlher srcurity Jor lhe payment nf nll indehtrdness 4rcumd hcreby.
<br /> . Thr Atorlgagiw� shall have lhe pawcr ln uppuint any agent or agents it may de�sire for lhr purpuse of n•pairing slid pr�m• . . I .
<br /> ises; renting thr sume; collecting the rents, revenues ancl incvme, and it may pay out of stid income all expens�s incurrcd in rNnt- � - I�r'b-`'�� �
<br /> � inR end munaging the snme and of cnllecting !he rentals therrlrom. The balnnce remaining, if any, shnll b<� applied toward the N '
<br /> � dischnrRe of lhe mortgnge indebtedness. This acsignmrnt is tn terminnle and hecome null and void upon rrlrau� uf Ihis mortgage. � a � `�
<br /> .
<br /> , . � -- --�.__� . -- ------- .... __.__...._._..._�.._ _ .- .
<br /> . .... . ._ _�_ I �
<br /> � _ . __..��__ —_.
<br /> _ _—_ _.��.. _`—' d ,
<br />� �
<br />:•��
<br /><'�
<br /> � �
<br /> ` ,.�
<br /> _ . �
<br /> R
<br />
|