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<br /> 78_ -'TFiE_ PIOfiTGAGOR :. FUATHEK OOVENANT5 AND AGREES:
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<br /> That the MortgaRqr.W��� P4Y ' t�e indebt¢dness ��aa�;hereinbefore peovided. . . . . ' � ' � � � � � . � � � � �
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<br /> � � That Lhe Moitgagot '�8-�fTia ,�¢�er of said property m fee simple and has good right and law(ul authority to scll nnd
<br /> � � �. mnvey the same and , that theaeitte7a'�` Lfee and clesr of any Len or encumbranoe; .and thak _1Vloitgagor will warrant and defend tbe , , � .
<br /> title to said �Premises �againsty tli� tlaims: Qf a1! peraon"s whomao�4er: , :. . .; � .
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<br /> ` To ppy intmediate,�y vt�'�e`�n ilue`snd yayable all generaI taxcg;,,specisl taxes, special assessmenLa, waler charges, sewer serv- ;
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<br /> � ice charges, . arid:othen�taxes and� charges� against said properfy, and all taxes Ievied on lhc- debt secured hereby, nnd tu (urnish the � � � : '
<br /> � '� Mortgagee, upOn,'' request; with �he ;originsl p; ,duplieate ieceipts� therefuc The Mortgagor agree§ that thera shall be� �added to � � � � ' , ' - � -�
<br /> ' each monthly� payment required hereunder or. under the eyide�nce of debt secured hereby an amuunt estimated by the Mortgagee � � � . � -
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<br /> ' to be auHicietiE t� eiieEtle�.fh�'fMorR�ag@e� to pay, as they become due,� all- taxes, assessments, and similar charges upon the Prem- . . �
<br /> � �� is[+.g"'sUbjetY' 2}iereto: "any �l`eficiency because��of"fhe insuti'iciency of such additional p8ymenLK aha❑ be forthwith ' deposited by the ��� , � . � � . �,
<br /> ��.� � , Mortgagor with the Mortgngee upon dem�nd by the Murt�agev. Any defnult under this pnragraph shall bN rlcemed a default in : ` , � - �
<br /> ' `'� �paymant of � taxes, � 'assessments: � nr similar� charges required hereunder. � . ' � . - � � `�
<br /> � ' � ,.The Mortgaqos� agrees ilaatr there .shaA xlso be. added to each monthly payment of principal and intemht .required� here- � � � � � �
<br /> ' under an amount ewtimnted by the Mortgagee to br sufficient tn tanablt� thr Mortgagee 10 paY. as it becomr� due, the insurance . . . � . . . �
<br /> �: premium on any.. insurance pulicy delivered to the Mortgagee. Any drficiency �cause nf tha• insu�ciency of cuch additional pay- � . . �
<br /> ments �shell -� be torthwith deposited � by the � Mortgagor with the Mortgaqee u�wn demand by the Mortgagee.' Any default dnder this �, � . . �
<br /> � paragraph shall be deerned a defaLlt in the payment of ineurance premiiims. If the �pnlicy or poliries �leposite<3 are� sucfi a5 Frume- � � -
<br /> � owners or all risk policies, »nd the de�msitv xrr ins�fficie.nt to pay lhc �• nlire premium , the MurtgaKer may .ipply the deposit to - .
<br /> � pay premiums on risks required to Flf IIISUClYI FlY tF115 mortAage. ' � � �
<br /> ' Payment5 made by the Mortgagor under the abe>vv paragraph. may , at thr� opt.iun of the Mortga�;ee, be held � by it nnd � � . � �
<br /> � commingled with other such funds �r its own funds fnr lhe pnyment of such ilems: nnd until so applied, such payments aro h�reby �
<br /> ptedged a. security for the unPaid balxnce of thr• murt�agP indebtedness. � . . . � � .
<br /> ; To yrncure, drliver t��, and maintain for Lhe ben�fit of tho hlortgaKe�' during the life n( this mortgage ��riKinal policies and � �
<br /> renewals Lhereof, delivrred at Ir�st ten days befnre th� espiration ��f any uur. h �licies, insuring against fire and uther insurahle � � � � . .
<br /> � hazards, casualtiea, and contingencies as the � Mortqngee may require, in nn amount equal to the indebtednetw vecured by thia � . � � -
<br /> � Mortgage, and in companie+ acceptabk� to the Morl£agee, with loss payable clause in (avnr of nnd in (orm acceptable to the Slortga- � , � � � � � .
<br /> � gee. In the event any �x�licy is not renewed un or be�nre tem `1�ys uf iG expiration, th� Mortgagee may prt�cure inaurance on the . � _ . � �
<br /> �.. improvements, pay the premium theretor, and such sum shall bccume immediately due and puyable with intrrest at the rate set � � .
<br /> forth in said note until paid and �hall kN.• ucurrd by this murt�;age. Failure on the part of the lbtortgagor to furnish such renewals �
<br /> � as are herein required or failure to pay any sum� advanced hereunder shall, at the option of the Mortgagee, cunstitute a default - �
<br /> � under the terms of this mortgage. The drlivery uf �uch pnlicirs shall , in [ he event nf drtaalt , con!:titutF en av�iKnment ut thr am . . �
<br /> . eamed premium. . � : �
<br /> � Any sUms received by the Mortgatiec by reason of loss or dnmuge insurrd against may be retuinrd by the btortgagee ' . � � � . . � . .
<br /> ' and applied toward the payment o! the dobt hF�reby srcured , or, et thF option of the ASortgagee, such sums either w•holly or in � . � - � �
<br /> part may be paid over to the Mortqagor tn tx used to repair such buildings or to build ' new buildings in thrir placr nr for any �
<br /> ' other purpose or object satisfaMory to lhe MurlKagea- withuul �R��ctinK lhe lien on the mortgage for the tull amount secureJ hrre- � � �
<br /> � � by brfore such payment ever took place. � � � � �
<br /> To pwmptly repair, res[ore ur rebuild any huildings nt improvemi-nLc now nr hereafter on the premiaes which may be- .
<br /> come damaged or destroyed : to keep said prr.mises in good condition and repair and frre from any mechanic's lien or other lien ot � � . . .
<br /> claim o[ lien not expressly subordinated to the livn herenF, not to suRer or permit any unlawful use ot or any nuisance to exist on - � . � �
<br /> � said property nor to permit waste on said premi.ses, nor to do any other Uct whemby the property hereby conveyed shall become � . � � .
<br /> less vsluable, nor to diminish or impair iLq value by any act or omission tu act : to cnmply with a❑ requirements of law with respect . � .
<br /> to the mortRaB� premises and the us� thereoG � � � . � . � � �
<br /> � That should the premises or a�y part thereof be taken or damaged by masun o( any public imprrnement or condemnation � . . �
<br /> '. proceeding. or under the right oC eminent domain, ur in any other mann�r, the Mortgager 4ha11 be entiHed to al! compensations, � � � � ��
<br /> awards, and any othei payment or relief therefvr, and shall be entitled, at il.a opt�ion, to commence, appea� in �and prosecute � in ita � � . �� �
<br /> own name any action or proceeding, or to make any comPromise or settlement in connection with euch taking or damage. All such � . :. -. � �
<br /> 'y compeneation.: �awarda, damaqes. riRht of action and proceeds are hereby essigned to the Mortgagee, who may, after � deducting : � � � � �
<br /> therefrom �a�l+its� expenses, releese any moneya eo. received by it or apply the � same on any . indebtedness .secured hereby; The Mort- �� . . �
<br /> gagor �. agrees � to� execute � such further aseignments of any compenxation, awnrcis, damages, and righLv of actiun anr! Proce�ls av the � � : �
<br /> . Mortgagee . may require. � � . �. . . �
<br /> That in case of failure to perform any of the covennnts herein. the Mortgagee may do on the Mortgagor's behal[ everything � � , � �.
<br /> ' so covenented; that !he Murtgagee may also do any act it may deem necc•seary tu protect the lien thereof; that the Mortqagor will � . � � �
<br /> repay upon � demand � any � moneys paid or tlisbursed by the Mortqngee for any of the above purposes, and such moneys toget6et with � � . � .
<br /> . . interesk thereon� �at the rate p�ovided in said note shall become so much additional indebtednesn hereby securecf and may Fie i�- . � � �
<br /> cluded in anY decree foreclosing this mortgage and be paid out uf the rents or proceeds o( aale of said premisea if not otherwise �+ � � � -
<br /> � paid; that it shall not be obligatory upon the Mortgagee to inquire into the validity o[ any lien, encambrancex, or claim in ad- � � � .
<br /> vancing �moneys � as above� suthorized, but nothing h¢rein contained shall be construed as requiring . the MortRagee to advance nny " . � �
<br /> moneye �.for � any �.wch purpoae nor.to do any� act hereunder: and that Mortgegee shall. not incur. any penwnal liability because ot any- � . �
<br /> . thing, it,may. do or omit to do hereunder. . _ � � � � . L-' � � . � �
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<br /> � In the event o( the de[ault by� Myrtgagor in the payment of any installment, as requircxl by the Note srcured hereby. or � ,
<br /> � in the performance o[ the obligation in this mortgagP or in the note secured thereby, the Mortgagee shall be entifled to declare the �
<br /> � � � i� debt. aecured hereby .due and payable without notice, and .the Mortgagee shell 6e entiUed at its option, without notice, either by itaelf . �
<br /> . . or� by a zeoeiver to �be�. appuinted �by the court thereot, �and without regard to the �adequacy o[ any security for the indebteclneac se- � : . �
<br /> , : . cured ,hereby.� to enler., upmi and 'take poa§edsiod of the - mortgaged premisea, and� to colle.ct and �eceive the rentw, issuea and profits � �,
<br /> � � pp y aame, .less coaats o( operation and rnllection, upc�n !he � indebt«cinea,v� -aecured � by �thie mo�tgaqe; se3d � rentsr � � �
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<br /> theieo[, dnd a 1 the
<br /> iesuea sad profifa being� hereby�a�igned to -the -MorfqaRee� as further necurity (or the payment of� all indehtrdnes.�c scrurer! hereby. �
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<br /> � � � The Mortgagee ahall have the power to appoint any agent or agents it �may � desire for the purpa4e of repairinq said prem- � �
<br /> •� . isea; , renting ihe satne;: coURctiag � the. rents, revenues and income, and it may pay out of said income a�l expenses incurred . in rent- . - " � �
<br /> � ;�� . . � � ing snd manag'ing the� aaine � and ot collecting thc renta]e� � therefrom. � �The balance remaining, if any. shall be applied � toward the "4,.� �� �
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<br /> ` diecharge of . the mostgage mdebtednese. This assignment ia to terminate and become null and void upon releasr ot this mortgaRe. � ;
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