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<br /> T-HE MORTGAGpR FURTHER COVENANTS AND AGREES: • � ''' ' � - �_' _.} -
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<br /> That the Mortgegor will pay the indebtedness as hereinbefore � � � �� � � ���� � � � � �� � - � � - - �
<br /> prwided. . .. . . .. .. .. .. . .
<br /> . That tMe :'Moct`g�gor is the�� 6wner �of:said, property" ia'fee ,aimple �.and' � has.�"good � �righR ':and� lawfu! authority � to- sell � and . �
<br /> rnnvey the same erid fhat the aame,. �p,free and�cleai of'sny [ien or encumbr'ance;� �and that Mort 'gago� wiil warrant and defend the. ' � �'
<br /> r � title to aeid premises aqa�net f�e elaima of all persons whomsoever. � � �� � �
<br /> I � To pay� immedeately�;h�rhea due and payable all general taxes, -apecia( taxes, special assesvments, water char es, sewer serv- �
<br /> � ice chargee, and �other taxea 'and_char � � ga . p petty, and all texea�]evied on the debt secured hereby. and to furnish the
<br /> � Bes.a insk said ' "rp .
<br /> . Mortgagee, ; LLpoa ;request„ with the;, original °or:�dupticate receipts,'-thereforf :.The �Mortgagor agreea that there shall be added to
<br /> each mont6ly payment rpquired hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br /> � to be su@'ioent to ,enable the Mortgagee to. �.pay, as 'they become, due, all taxes. as.sesxments; and sirhi)ar charges � upon the prem- � � � �
<br /> ises aubject_ thereto; ,sny de,8ciency, .beCause.. of the insufficiency of such ,additional paymenta shall be forthwith deposited by the
<br /> � Mortgagor :w�th L5� ,1y1oitgegeC, uppn' � demand by the Mortgagee: Any default under this _ paraRreph shall be �leemed a �lefaulf in
<br /> � � �peymenE"of [axiw, a"s�seyymenta, or similar charges requirrd� her<�under. � � � � � � - - � � - . .. . _ �.. . . . .
<br /> � ` � � � � The Mortgagor agrees that there ahall aLso be added to each monthly payment of principai and interext required here-
<br /> under an amount egtimated � by the Mortgagee to be autlicient to enable the Mortgagee Yo pay; as it �becomea due, the insuret�ce
<br /> . premivm or` any insurance policy delivered � to the Mortgagee. Any deficiency because � of the insufficiency of such additional pay-
<br /> ments shall be forthwifh depnsited by the Mortgagor with thr Mortgaqer uFwn dcmand by thc Murtgagee. Any default under this
<br /> paragraph , sl�all be dermed a default in the payment ot insurance premiums. If the policy or policies deposited are such as hvme-
<br /> � owne�s or aL riak policies, and the deposits are insufficient to pay the entire premium, the Mortgagee may apply the depos'rt to
<br /> � pay premiums on riskx required to be insurcd by this mortgage. � � � . �
<br /> Payments made by the Mortgagor under the above paragruphs may, at the option o[ the Mortgagee, be held ' by it and
<br /> commingled with other such tunds or its own funds for the payment of such items, and until so applied, such payments are bereby
<br /> P��16ed as security for the unpaid balance of the mortgage indebtedne45. .
<br /> To procure, deliver to, and maintain (or the brnefit o( the Mortgagee during the life of this mortgage original policies and
<br /> renewels thereof, delivered a[ least ten days before the expiralion uf any such policies, insuring against fire and other insurable
<br /> hazards. casualties, and rnntingencies as the Mortgagee may reqvire, in an amount equal to the indebtedneae secured by thie
<br /> Mortgage, and in companies accepfable to the MortRaKee, with �oas payable clause in favor o[ and in form acceptable to tbe Morlga-
<br /> 8�. In the event any policy is not renewed on or before ten days of it� expiration, the Mortqagee� may procure insurance on the
<br /> improvements, pay the premium therefor, and such sum shall fiec�me immediately due and payable with interest at the rate set '
<br /> forth in said note until paid and shall be �ecured by this mortgage. Failure on the part of the Mortgagor to Furnish such renewals
<br /> �i ea are herein required ur [ailure to pay any sums advanced hereunder ehall, at the option of the Mortgagee, cunstitute a de(ault
<br /> under the terms of this mort�age. The delivery o( such policies shall , in the event of default, constitute an asaignment of the un-
<br /> earned premivm. � . � .
<br /> Any auma received by thr MortRaK�' tiY reason o! locs ur damage insured agninst may be retained by the Murtgagee �
<br /> � and epplied toward the payment o( the debt hereby secured , or, at the option ot the Mortgagee, such suma either wholly or in
<br /> part may be paid over to the Mortgagor tu be used to repair such buildings or to build ' new buildings in t6rir place or for any �
<br /> other purpose or object satistaMory to the Mortgagee without aHecting the lien on the mortgage for the full amount secured here-
<br /> by be(ure such payment ever took place. �
<br /> � To prompUy repair, restore ar rebuild any buildings or improvemenLc now or hrreafter on the premises which may be-
<br /> rnme darnaged or destroyed ; to keep said premises in good mndition and repair and [ree from any mechanic's lien or other lien or
<br /> claim of lien not expresaly aubordinated to the lien hereo(; not to sutier or permit any unlawful use of or any nuisance to exist oa
<br /> : aaid property nor to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shall become �
<br /> . leas valuable, nor to diminish or impair its value by any act or omiasion to act : to camply with a11 requirements of Iaw with respect
<br /> � to the mortgaged premises and the use thereof.
<br /> : �� That should the premisea or any part thereof be taken or damaged by reason of any public improvement or condemnation �
<br /> . proceeding, or under the rigbt of eminent domain, or in any other manner, the Mortgagee shall be entitled to all rnmpensations.
<br /> awards, and any other payment or relief therefor, and ahall be entitled, at its option, to commence. appear in and proaecute in iGa
<br /> ; own name any action or proceeding, or to make any compromise or settlement in connection with auch takinR ��r damage. All nuch
<br /> . compensation, nwards, damages, riRht oC action and proceeds are hereby assigned to the Mortgaqee, who may, after declucting
<br /> � therefrom all its expensea, rnlease any moneys so received by it or apply the same on any indebtedness secured hereby. The Mort-
<br /> gegor � agreen to execute such further axsignments of any compenwation, awavls, damages, and rightg o! actic�n and procetYls �c the
<br /> Mortgagee may require. �
<br /> . . That .in caye of failure to perform any of thr covenantr herein, the Mortgagee may do on the Mortgagor's behal( everythinq
<br /> so covenanted; that the Mortgagee may alxo do any act it may deem necrssary to protect the lien [hereof; that the Mortgaqor witl
<br /> re}aay upon demand any moneys paid or disbursed by the Mortgagec for any of the above purposes, and such moneys toqet6er with
<br /> . interest thereon at the rate provided in eaid note shall becume so much additional indebtrdnecv hereby .ecured and may he in-
<br /> . cluded in any decree foreclosing thia mortgaqe and be paid out of the rents or proceeds o( ys�P of said premises if nat otherwise
<br /> . paid; � -thaE it sha11 -not be obligatory� upon the Mortgagee to inquire inLo the validity ot any lien, encumbraneex, or claim in ad-
<br /> varacing moneys as above authorized, but nothing herein contained sh�ll be construed as requ�ring the Mortgagee to advance any
<br /> . moneya for any such purpose nor to do any act hereunder; and that Mortgagee shal! not incur any perso�al Iiabilily Mecause of anv-
<br /> . thing iEmay do or omit to do heceundec � -
<br /> - " �-� 'In the event of the delault by Mortgagor in the payment o( any inatallment, as requircvl by the Note secured hereby, oc
<br /> in ,the pedormance. o[ the obligation in thia mortgage or in the note secured thereby, the MortgaRee xhell br entlUed t� declare the
<br /> debt aeeured hereby due and payable without notice, and the Mortgagee ahall be rntiUed at itc option, without notice, either by itaelt
<br /> or by a receiver to be appuinted by the court thereof, and without regard to the adrquacy of any r,ecurity for the indebtedneas sr-
<br /> cured .hereby, to. enter. upon. and take pospesiiion' oT the mortgaged. Premises, and. to collc-ct and recerve the rents, iavury and profits
<br /> .thereo[, and, apply. the � sazne, 1ess �. caets of operation and . rnllection, upon � the indebteclness � yecured by thi3� mortRajce; said renta,
<br /> iseuea and profite bejng hezeby,asaigned to the Mortgagee as {urther security for the paymc�nt o( all indebtedness securcd hereby. �
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<br /> � ' � ' TbP �� Mortgagee � shall have the power to appoint any �agenE or agents it may desire �tor Ehe purpose of repaiiing said prem- � �.
<br /> � � � iees: � renting the aame; rnUecting the renta, revenues and income, and it may pay out of � said income all expenses incurred in rent- � �`
<br /> . ing and managing� the eame and o( collecting the rentals therefrom. The balance remaining, if any. shall ' be applied toward the � ' � �
<br /> diecharge of tha mortgage -indebtedneas_ . This . aseignment is to terminate and become null and void u �?� "�
<br /> . . . . . . . . . . . . .. .. . . . pqn release of this mortgaRe. � ' :�- �.
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