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<br /> T.HE MORTGAGOR FURTHER COVENANTS AND AGREES: C' ¢, , ': , : � , ; ,,, `
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<br /> That the MortgaRar will pay the indebtedness as hereinbefore provided. � � .
<br />� . That the-'Mp�tgagor is ,Et�g ;6waer; oE' aaid; pwperty,-.in, �fer nimple and � � has � good -:right ��and, lawtul authority- to selt and � .
<br /> convey the asi'ne and t6a! t6e aemg is free �and `clear of any lien or eneumbrance; and� 4hat Moitgagor wilt warrant and defend the
<br /> Litie to said , premiaes agatnst.,the-.. cleima o[ all persons whomsuevec .
<br /> :-.:�_'_. : . .:.. � �'" :, _ . .. �. � . . . .
<br /> � � To pay. immedietel°y w,Ihe"ii tlpe;,an'd`payable all general taxe�,;apeciaC taxes, special asvesxmentn, water charges, sewer serv- '
<br /> . , ,.:� .� . .
<br /> . ue chargee.�an�l , qthertaxea andE;C6argeg agasnst'said� property; and �all�„taxeeJevied on the deMt secured hereby, and lo [urnish the . � � . �
<br /> Mortgegee, '�upon reguesQ ' �viLh ; thC, oiigingl o� ' duplicate ��receipts therefor.. ��The Murtgagor agrees tfiat there � shall be added to �
<br /> � each monthly psyment ' required hereunder or under the evidence of debt secured hr_reby an� .amount estimated by the Mortgagee �� �
<br /> to be suH'icient to' enable the Mortgaqee to. pay. . as� they become dae, all .taxes. assesements, nnd similar charges upon � the �prem- � ��
<br /> . ises aub�ect thereto; any. deficiency t�ecauae of �the i�sutficiency of �such additional . payments shall he �forthwith deposited by the �. . .
<br /> � Mortgagor Jv�th. the Moitgagee;� upon.�demand by the Mortgagee. Any Aefault undee this paragraph shall Fie deemed a. default in ��� �
<br /> psyment of�"tazes, ac'se'sqment's, - nr �ximilai charges required fiereunder. � � � � � � � � ��� � � � � - � � � � " '�
<br /> � " The . Mortgagor agrees that there shall al:� be added to each � monthly �payment of principal� and inlerest required here• � .
<br /> under an amount estimated by the Mortgager to be sufficient to enable the Mortgagce to pay, as it becomea due. the insurance �
<br /> prnmium on any insurance policy delivered to the Mortgagee. Any deficiency because ot lhe insufficiency of such additional�. pay-
<br /> ments shall be for[hwith depcxsited by the Mortgagor with the Mortgagee upon demand by the Mortgagr.e. Any default under this
<br /> � paragraph shsll be deemed a default in !he payment o[ insurance premiums. If the policy or pulicies cleposited are such as ,leome-
<br /> owneeti� or � all risk policies.� and the depoaits am � insu(f'icient to pay the entire premium, the Mortgagee may apply - the deposit to .
<br /> pay premiums on risks required to be insured by this mortga�e. � � �
<br /> Paymenfs made by the Mortqagor under t.he above paragraphx may, at the option of the MortqaRee, be held � by i[ and
<br /> commingled with other such [unds or its own tunds for the payment ot such itPms, nnd until so applied. such payments are hereby
<br /> pledged as xecurity [or the unpaid balance of the mort�agr indebtedness.
<br /> � To procurn, deliver to, and maintain (or the benefit oC the Mortgagee during the life of this mortga�e original policies and � �
<br /> renewals thereof, delivered at least ten days befnre the expiration of any such policies, insuring against fire and other insurable
<br /> hazarde, caeusltiea, and rnntingencies as the Mortgagee may require, in an amount equal to the indebtednese secured by thie .
<br /> Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor uf and in form acceptable to the Mortga-
<br /> gee. In the event any policy is not renewed on or t�fore ten days of itx expiration. the MortRagee may procure insurance on the
<br /> imprwemenfs, pay the premium therefor, end such sum shall become immediately due and payable with interest at the rate srt �
<br /> �� forth in said note until paid and xhall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals �
<br /> � as are herein required or (ailure to pay any sums advanced hereunder shall, at the option of the Mortgagee, constitute a default � �
<br /> � under the terms ot this mortRage. The delivery of such policies shall _ in lhe event o[ default, constitute an assignmrnt of the um � .
<br /> earned premium. -
<br /> . Any auma received by the Mortgagee by reason of loss or damage insured against may be relained by the Mortqagee � �
<br /> and applied toward the payment uf the debt hereby secured, or, at the option o[ the Mortgagee, such aumx either wholly ur in .
<br /> part may be paid over to the Mortgagor to be used to repair such buildings or to build ' new buildings in thrir placr or for any
<br /> other purpose or object satisfactory to the Morlgagee without affecting the lien on the mortgage for the full amount secured here- . �
<br /> , by betore auch payment ever took place. �
<br /> To promptly repair, restore or rebuild any buildings or improvements now ur hrrea(ter on the premives which may be-
<br /> � come damaged or destroyed; to keep said premises in good condition and repair and [ree from any mechanic's lien or other lien or
<br /> claim of lien not expressly aubordinated to the lien hereof; not tn sufier or �xrmit any unlawful �se of or any nuisance to exist on �
<br /> . said property nor to permit wa9te on said premixs, nor to do any other act whereby the property hereby conveyed shall become
<br /> , leas valuable, nor to diminiah or impair its value by any acl or omission to act : to camply with nll requirements of law with respect . . ,
<br /> �. to the mortgaqed premisca and the use thereof. � �
<br /> . That should the premises or any part thereof be taken or damageci by reason of any public improvement or condemnation �
<br /> . praceeding, or under the right o[ eminent domain, nr in any other manner, the Mortgagee shall k� entitled to all compensation_a. .
<br /> ',. award5, and any other payment or relief [herefur. and shall be entiHed, at its option, to cnmmence, appear in and prasecute in itv �
<br /> '. own name any action or proceeding, ur to make any cumpromixe or settlement in connection with xuch taking or demage. All auch
<br /> � rnmpensation. awards, damages, right of action and proceeds are hereby� asaigned to the Mortgagee, who may, after � �deducting .
<br /> �. therefrom all its expensee, release any moneys so received by i! or apply the same un any indebtedness secured hereby. The Mort-
<br /> � gagor agrees to execute svch further a�vignmentn of any compenwation, awards, damages, and rightc o( action and nroceeds as the
<br /> � � Morlgagee may require. �
<br /> That in case of failure to per(orm any o[ the covenants herein, thr Mortgagee may do on the Mortgagor's behalf everything
<br /> so covenanted: that the Mortgagee may also do any act it may deem neces.cary to protect the lien thereof: that the MortgaRor wi11
<br /> repay upon demand any moneys paid or disbursed b>' thc Mortgagec for any of the above purposea, and quch moneys togetfier with
<br /> interest thereon at !he rate provided in said note shall become so much additional indeblednesa hereby xcured an�i may be in-
<br /> � cluded in any decme foreclosing this mortgage and be paid out ot the renia or proceeds of esale ot said premises i( not otherwise
<br /> � paid; Yhat � it shell not be obligatory upon the Mortgagee to inqvire into the validity o[ any lien, encumbrances, or claim in ad•
<br /> �. vancing moneys as above authorized, but nothing herein contained shall be construed es reqairing the Mortgagee tu advance eny
<br /> � moneye for any such purpoae nor to do any act herrunder; and thet MortgaRne nhall not incur any� �ersonal liability hreau.r of anv -
<br /> . Lhing it may do or omit to do hereunder. . . � � � . . � . .
<br /> � . . . In tFae event of � the default by Murtgagor in the payment of any inatallment, as rr,quired by the Note aecured �hereby, � or
<br /> � � in .the. pedormance ot the obligation in thia mortgage or in the note secured thereby, the Mortgagee shall be entitled b declare the �
<br /> . debt aecured hereby due and payable .without notice, and the Mortgagee nhall be entitled at its option, without notice, either by ifael[
<br /> or by e rxriver to br appointPd by the court thrrtv�C nnll without r�•gard to the �dt�uacy nf any �rrurity k�r t }i�• in�lrhtorinr�< v -
<br /> '. . . cured:�hereby, to . enter . upon .and take, posSesaion:.of.. ihe � mortgaged premisea, and � to collect and , receive the rents. issuex and profits
<br /> t � . thereof,"�aiad- 'apply the. same::leFs �costs o[ operatio� and rnitection, uryon thP indebtcKinesa secured by thia mnrt�age;� �§ai8 renL+. . �
<br /> �. iesues`end .proSfa being' hereby asaigned to the-� Mortgagee as further crcurity for the payment of ell indebtednexv secureri hereby. r
<br /> . � 'The -� Mortgagee shall have�the power � fo appoint any+egenC or" agen[n it may �desire tor lfie purpoxe of repairing xeid prem- .�"''�,
<br /> � � � iaea; ��renting the aame: coUecting the rente, revenuea and income, and it may pay out ot seid income� atl expenses incurred in rent- � - �k'?^��� ;z ` '
<br /> , � ing and managing the same and ot collecting the rentals therefrom. The balance remaininR. if any, shall br applied Loward the f''; ` �
<br />�. .�� . . . dixLarge oL the mortgage. indebtednees_ This , assignment ie to terminate and become null and void upon release of this mort�:flRe. � �
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