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<br /> T.{�J11A7�'FG�R . FURTHER ._COVENANT3 AND :AGREES: .
<br /> K, '� � �3 �} i.� . _.,, .,
<br /> ' That the';�Mortgagor avill:,AaY 'the indebtednr�s.jas heceinbetorg. Provided, :. . ,•,�. .. , . . . . . . . r . • _ . . .
<br /> � v � �•. .;,. : 1 ;¢�. . 5, . . . : _ �. : . ._ . , .. . � � �:��. . . . . . � . , ..
<br />� � That t}ie Mortgagor �.tst�e :tiwncr ot sa�d property in fee aimpie and has good � right and lawful authority to scil and � � �
<br /> ; , convey the same�,an$ 3h�i theu8n5e':Ss Iree and Clear of any lien. ,or encpinbrance: and that Mbrtgagor will warrant and defend�. th6 � �� * � . '
<br /> . title to said `premlees against tF�e claims ot'el� peieoqs4wFiom'soever. _ � � �
<br /> + . 3 " ? 9 , f < .�t;r Y :: t , ,..� �.. . . , . __ . ... ._ . . _ .� . . . .
<br /> To pey '�i�mediately when due and'payg6le e1C� .general�� �taxes;'special �.taxey, apeciel asw�;smentg; watercharges. �sewer serv- :
<br /> f ice charges, and 'othen :texen and chargec agninsl said properly, and all taxes IP.VIPCI on the debt secured hereby. and to turnish the . ,� . .
<br /> ' Mortgaqee, upoa --reqCaesl. with-tihe erigiriel . qr duplicafe receiPts, [heretor. The Mortgagor agirex� that there shall 6e �addeil ' to � � � ' . � � � � � � �
<br /> �- each monthly payment . requtred_ hereunder �f under lhe. evidence of debt secured hereby an amount estimaled by the Mortgagee � . .
<br /> � to tie sufficieriE-t'q, e�+�le ;the� LvJorEgpgee�ito pay, ac they tx�comr duc. a�l taxrs, aRsessmenls, and similar chargea upon �the . prem• - , � . . � �
<br /> iSe9 �SttDject tHeretn; nny deficiericy�twcause � of the inxu�cii+nry of tiuch ndditional pnymFnts shall be Cnrthwith depos�ted by fhe . -
<br /> ' , . . }14orlgagor, with �the Mortgager upon drmand by thr Morigugece. Any de(nulc undcr this paragraph ¢hw ❑ be d�•emed a detault in
<br /> � peymenE of taxec, es:nessments. �r � ximilar charqes r<•yuired V�ereunder. , . � . � � �, � . � . � ..
<br /> � � The� � MortKagor� agreen . that there shall �also 1x added to each mnnthly payment o( princ4pul � and intere:;t required here- � � � �. � �
<br /> under an nmount estimnted b,y the blortgagee to M• xiifficient to enablr the MortgageF• to pay, as it hecomes due, the � insurance . �
<br /> premium on any insurance �wlicy delivered tn [he Mortgpgee. Any defiricncy ber.ause of the insufficiency o( . such addilional pay- . . � . � .,
<br /> menis shall hc forthwith dep�sited by � the Mortgagor �with the Morkgeger. u}Mn dPmnnd by thF Mortgagee. Any default undei this .
<br /> . paragraph ahall be decmed a dr(ault in thr paY+ne^t of ins.urance prerniums If the ��licy or policies drposit<•d nrF such as M�mr- � � � �
<br /> owneis or all risk Ix>licirs. an<I tbe de�msils ure inwuRicicnt tu pay the ��nfire prcmium . the binrtgnRen may apply the dEposit to � . .
<br /> � pay premiums on risks requimd to 6e insured by this mort�ag�z. � � � � � � . . . � � �
<br />� ' PaymenLS made by the Mor[gagor under the :�buvr• paragraplv mHy , �t the nption of the Mortgagee, bc ht�ld � bV i[ and . "
<br /> � commin6�P� "�'�th other such funds nr its own fund. for the pnyment of such i[ems, and until so applied, such payments are hernby � . . .
<br /> pled+;ed as security for the unpaid balancr of thF� mortgage indebledness. - � � � � � .
<br /> . To procure, deliver to, nnd mainlnin for thr brne•fit nf th�• Mortgage� durinF thr life o[ this murtg�ge oriR� �a! policies and . � . .
<br /> renewals thereoE, delivered at Icast trn days tx(ore the exyirntion uf any sucF� ��licie�, .insuring againat fire and utt�er insureble � �
<br /> � hazards, essualties, and rnntingenciex as the Mortgngee may require. in an amount equal to the indebtednens eecured by this ' . �
<br /> �� Mortgage, and in compani�+s acceptnble to the Mortgagee. w' ith loas payaAlv clause in favor of and in f��rm acceptable to lhe Mortga- � ,
<br /> . gee. In the - event any P��licy� ia not rencwed �m ur twforP ten days of itzi expiration. the MorlRagee may procure msurance on the . .
<br /> � improvements, pay the premium therefor, and �uch sum shall become immediatrly due and payable with interest at the rate sel � . .
<br /> � forth in said nole unlil Paid and shall �• secun•d by this mortR��:e. Failure on tbe part o[ thee Mor/gagor to furnish such r��newals � , .
<br /> � afs are hetein required ur failure lo pay any sums advance�d hereunder shall, at the option of t.he Morlqagee, cunatitute a default � .
<br /> � under the terms o[ this mortga�e. The dvlivery � rf such p��lioir�s .hall , in thr t�v�•nt nf rlrtnult. con�tiWte an assignmF�nt u( the un• � . � � . .
<br /> earned premium. � .
<br /> . Any suma received by the Mortgagee by rvas.�n o( loss or damage fnsured against may be retained by the Murtga�ee �
<br /> � and appliecl toward the payment of tha• debt hf•reby secured , or. at the �>ption of the Mo�tgaKee, such sums either wholly or in : .
<br /> pert may be paid over lo tbe Mor[gaKor tn tW used to rcpair such biiildin�s ur to build ' new buildin6� in their placr ar for any . �
<br /> ' other pur�x>se or ubject satisfacWry to thP Murtgagce withaut aEfecting th�• lien un the mortqage Fnr the full umnunt seeured here- � . . � � .
<br /> � ' by before such payment ever t<wk place. . � . . .� .
<br /> � To promptly repair. restore ur rrbuild any building:� or improvementx now ur hureaftrr on lhe premisex which may be• .
<br /> come damaged or de4troyed : to keep said premises in gcxid condi tion and repair and free trom any mech:�nic's lie. n or olher lien or � . . ,
<br /> � claim of lien not expressly subordinated to the lirn hereof, nut to suRrr or permit nny unlawtul u�e ot or any nuisance to exist on � . �
<br /> �� said property nor to per[nit waste on said premiu•s, nor to do any other act wFiereby the property hereby cnnveyed shall Ixcome - � � � . �
<br /> ' less valuable, nor to diminish or impair itw value by any act or omission to act �, to cnmply with all requirements of law with respect . . . � �, . ,
<br /> to the mortgaged premises �nc) the use thrreoL -. � � .
<br /> � That should the premises or any part therruf br taken ur damegrd by reanun oC any public improvemrnt or condemnation - � . � � .
<br /> , proceeding, or under the right of eminent domein, ur in any other manner, the htortgagee shatl be entitled to all compensations, . � -
<br /> ' awards, and any other payment or rr.lieF therefor, and shalt be entitled. et its option, to commence, appear in and proaecute in � iis� � .
<br /> own name any action or proceeding, or W make any compromise or settlement in connection with Kuch takinq or damage. All such � . .
<br /> � compenestion, awatds, damagen, riqht o( action and proceeds are hereby assiKned to the MortgaKee, who may, after . deducti�g �
<br /> � therefrom all its expenses. releaae any moneys so received by it or apply the same on any indebtedness secured hereby. The Mort- � . � .
<br /> � gagoragreea to � axecute such further atzvignments of any compensation, awards, damages, end righ4s ot action and Rrceeedn as the ,� �� .
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<br /> , Mortgsgee may require. �� � �
<br /> : That in case of failure to perform any ot thr covenants herein, the Mortgagee may du nn tfie Mortgagor's behalf everything � �!'� .
<br /> so covenented; that the Mwtgagee may also do any nct it may deem necr.;sary t�. prutect the lien Ihereof; thnt the MortgaRar wi❑ � . .
<br /> repay upon clemand any moneys paid or disbursed by the Mort�aKee for any of the nbove purposes, and such moneys togetFier with G - �
<br /> � � interesf' thereon afthe rate � prwided in said note ahall becume so much � additionul indebteclness hereby srcured �and may be in- � � � .
<br /> � � cluded in any decree toreclosing this mortqage and be paid out of the rents or proceeds of xale ot said �>remiaes if� not otherwise � , � �
<br /> paid:. that it ahall not be obligatory upon the Mortqagee to inquire intn the validity ot any lien, encumbrances. or claim in ad- � �
<br /> vancing moneys se aborve authorized, but nothing herein contained shall be construed as requiring the MortRagee to advance any �.r� �
<br /> moneya � Eor any �auch purpose nor to do any aM hereunder; and tfiat MortgaRee shall not incur any perxunal liability brcause of any- � �
<br /> � thing .it may do or omit to do hereunder_ . - .
<br /> � � In [he event of the default by . Mo�tgagor in the payment of any inatallment, as required by the Nate secured hereby, or � � � �
<br /> in the performance ot the obligation in this mortgage or in the note secured thereby, the MvrtgaAee shall be frnt.iUed tn declare the . . �
<br /> debt secured hereby due and payable without nolice, and the Mortgage� shall be entitled at itx option. wi[hout notice, either by iLvelf . � �
<br /> or by e� recCiver �to be appdinted by the � court thereof, and without regard to the adequacy of any xec�rity for the indebtedness se- .
<br />� � �: cuted hereby: �fo ,enLer upon and take pos§ession of'the � mortqaged premiaes,� and to collect and � receive� the renLs, issuea and � pro6t+ �
<br /> . - thereotG arid ' apply thr' eame, leas costs of operation and�� collection, upon the -�indebtrdness secured�� by - thia mortgagc;. - said ;.rents. . ` 4 . -
<br /> . � � � ieeues�hnd profifa�lieing=hereby-'assigned� to the' Mortgagee �as �vrther aecurity� for the paympnt of all indebtedness :securer3 hereby.
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<br /> � � � � � The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose o( repairing said prem- . " �-
<br /> � iees;. mating the . same;, collecting, the z+�ntn, . revenues and income, and it may . pay out of �said inmme all expenses . incurred in rent- ;
<br /> �,i . . . ing� and managing the �.eeme and of coll 'ecting the : rentals� theref rom. �The Halance remaining. if � any, shall be applied "toward the "� �' ? - �:
<br />�. . � � dixharge oI the mortgage indebtedness, This aneignment is to terminate and become'� noll and void upoq release c�f this mortgage. � , '•
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