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<br /> T.HE MOATGAGOR FURTHER OOVENANTS AND AGREES: 78�`� � � 8 �G
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<br /> That the Mortgagor will pay the indrbtedneas as hereinbefore provided. � . . �
<br /> �� � �� ThaC U1a'"'Mo;tsegor 5s the 'Swner��t� aa���.,� , � et� �in.';�G., s+�ple.;�. and. ,laea'�.Bood : right and.,:. taw(ul � authority. to. se13 ar�c��� r C7F � � � � �
<br /> � convey, the ;samerp�'n'�`�ha�t�l�` •��free'arid'=icte£r��f�jr �en"ior �encVrr76�ence;"and' that IofortgaRor wili warrant an�l defem! tho� � , � �
<br /> � title to naid Premises aq�qst ''�e�",°cl�ms of sil persona whomsoever -�. ' .r . - . ._ _ , . ,,; . .
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<br /> . . � �� Tai, pa� iriamediBtC����n' tt7uq� �i�"a�,81t '6en�'tal�tanes spec�sl� taxes. special asvesaments. water charges. sewer secv . �. .
<br /> � ica chargea€ and other taxdY_ � t � S`" �'rnaf `pai�o¢sop�rtyaraAd� �1h't$xes_levied on thc debt secured hereby, and to Eura�sh tk�e . , �, i, � � �
<br /> � Morlgagee,au��r �4, ' „ � biig�n�t°�'Or;..dLLpFiCsa'�`e � "receipLa"thprefoi:''The � Mortgagac, .agreex that Lhere shall `be adde'rI "to � , � � .
<br /> ' , � � � � ench monthly j�ayment�Tequired�hereunt�Er ar�,,upder the, evidepce of Fdebt secured � hr. reby an amoimt eatimated hy the Mortgagee . .
<br /> to be suHia�irif trr=eneble !h� 1�T'dF£kaqee' �tt �pa`y��a� tRieq� 4eco�� .d�.e: �IL 4a�ces. aedessiaenLv. i+tid`sirnilar char8es upon ihe prem= ' -
<br /> iaea subjec��e{eto;,�any, defic�iene� be�ds4 ot� ,tha insu�ciency pf.�.such additional. . paymenta shall 6e lorthwith �deposited by the _ � � � .
<br /> �� "� � yMorlgagor,��.�tL�q�DRqrtapgae i�po'C'���7emand by the Mortgagee. Any default under tFGs Paragraph shatl be deemed a���default in � . �
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<br /> � payment o�" laxes. aseessmenks: or aim�lar cfiazges required - hereunder. � " . .
<br /> � `. The � MortAagor agrees lhat � there shall also be added to. each monthly payment of principal and interest ' required here- , �
<br /> � under an amount �estiinated by the Mortgagee to be suf6cient �to enable the- Mortgagee to pay, es it � becomes due, . the insurance � � � � . �
<br /> premium on any inaurance policy delivered Lo the Mortgagee. Any �deficiency because - of �� the insufliciency of .such additionel- � pay- . � . � �
<br /> � menta xhall be forthwith deposited by the Mortgaqor with tRe Niorfgagee upon d¢mand by the Mortgagee. Any defautt vnder this � � �
<br /> . paregraph sk�all be deemed a default in .the paymentpf. insurance premiuma. If the policy or policies denosited are .such .ab, hvme- . � � . �
<br /> 'awners oi all risk �policies, and t6e depoaits �are inau/Scicnt to pay the entire premium, - the Mortgaqee may apply the deposit to � � .
<br /> � _ pay prnmiums on risks required to be insured by this morfgage. � . � � .
<br /> � Paymenfs made by the Mortqagor under the above paragraphs may, at the option of lhe Mortgagee, be held ' by it end � � . � � . '
<br /> � commingled with other such funds or its own fundx for the payment of guch iterr�4, and until so applied, auch payments are hereby � � �
<br /> pledged as aecurity [or the unpaid balance of the mortgage indebtednexv. � � . �
<br /> � To procure, deliver to, and maintain for the benefit of the Mortgagee during the life of this mortgage original ywlicies and ' � . � . � .
<br /> � renewals thereof, delivered at least ten days be[ore the expiration of �any such policies, insuring� againaf fire arid other � insurable . .
<br /> � ha�ards,. meualtiea, and .rnntingencies as the Mortgagee may require, in an emount equal to the indebtedneee secured by this . . �
<br /> Mortgage, and �in companies acceptable to the Mortgagee, with loss� payable clause in favor of and in (orm acceptable to the Mortga- .
<br /> �� gee. In the event anypolicy is not renewed on or kwfore ten days of its . expiration, the Mortgagee may procure insurance on the � � . _
<br /> improvementa, pay Lhe premium therefor, and auch sum shall hecome immediately due and payable with interest at the rate set ,. � . _�
<br /> � forth in said note until paid and shal! be secured by this mortgage. Failure on Lhe part o[ the Mortgagor w furnixh auch renewala � � .
<br /> as are herein required or [ailure to pay any aums advanced hereunder shall. at the option ot the Mortgagee, constitute e default . . .
<br /> � u�et the terms of this mortgage. The delivery of cuch policies shall, in the event of default, constitute an assiRnment of the uo- � , �
<br /> . earned premium. � � � � �
<br /> � Any aums received by the Morlgagee by reason of loss or damage insured against may be retained by the Mortqaqee -
<br /> and applied toward the payment of the debt hereby secured, or, at lhe option of the Mortgagee, sach aums rither wholly or in � . . . .
<br /> part may be paid over to the Mortgagor to be used to repair such buildings or to build ' new buildings in their place or [or any� � � .� � .
<br /> , other purpoee or object satisfactory to the Morlgagee without aftecting the lien on the mortgaqe for the full amount securecl here- � � .
<br /> � � by before such payment ever took place. � . �
<br /> To promptly repair, restore or rebuild any buildings or improvements now or hereatter on the Premises which may be- ' .
<br /> �, come demeged or destroyed; to keep said premises in good condition and mpair and tree from any mechanic's lien or other lien or � � . � .
<br /> � . claim of lien not ezpresaly subordinated to the lien hereo[; not to suHer or permit any unlawful use ot ar any nuisance to exiat on , � � . �
<br /> . � . � aaid property nor to persnit waste on said premiaes, nor to do any other act whereby the property hereby rnnveyed sFaall become � � �
<br /> � Ime valuable, nor to diminiah or impair ita value by any act or omission to act: to comply with all requiremenLc of !aw with respect � � � . �
<br /> � to the morlgaged premises and the use thereoL �. . . . �
<br /> � � That should the premises or any part thereo[ be taken or damaged by reascm ot any public improvement or condemnation� .
<br /> ' proceeding, or under the right o( eminent dort►ain, or in any other manneq the MoNgagee shall be entiUed�to-;all �Compe�tions, �
<br /> � � awards, and any other payment or relie( therefor, and shall be entitled, at ita option, to commence, appear ia and 'pro6ecule in + ite�N;' �, . . .
<br /> � own name any action or proceeding, or to make any compromise or setttement in connection with such taking or damage. All such � .
<br /> �. � compensetion. awards, damages, right a[ action and proc�eeds are hereby assigrted to the Mortgagee, who may, � atter deducting , � ,
<br /> therefmm all ita expeneea. re�ease anY moneys so received by it or apply the same on any indebtedness secured hereby. The Mort• . . .
<br /> � � "�gagor ' agdees �to_ execute suck further aaeignmenG of any compensation, awarcls, damages, and rights oC action and � proeeetlA as the �� . � - �
<br /> ` Mo*iBeBee. +eaY, :mluire. � . . . . . . . . . . . . . . �
<br /> � �� �That. in caee o[�failure to perform any of thr covenantx herein. the Mort68Kee may do on lhe Mortgagor's behalf everything � : .
<br /> . so covenanted: that the Mortgagee may also do any act it may deem necessary to protect the lien thereof: that the Mortgagor will . �
<br /> � repay upon demand any moneys paid or disbu �sed by the Mortgagee for any o( the aFwve purposes, and such moneys toget8er with � � �
<br /> �� _ in,terest. the{eon at the rate provided in said note shall becomr so much additional inaebtedness hereby :zecured and may he im � � . �
<br /> � cluded� in any , deeree foreclosing this martgage and be paid out of the rents or proceeds of sale of said prrmises iC not otherwise .
<br /> � 'paid: thal � it � ahalt not be obligalory � upon the Mortgagee to inquire into the validity of any lien, encambrancrs, or claim in ad• . � �
<br /> � � vancinR moneys as above au[horized, but nothing herein contained ahall be wnstrued as � requiring the Martgagee [o advence any
<br /> . � � moneys for �any such purpoae nor to do any act hereunder, and that Mortgagee shall not incur any personal liebility because of any- � .
<br /> . t6ing'�it�'�may do 'or �omit �to �do k�ereunder:' � - � � � � � � � � � � � � �
<br /> � � � . :.� .In the� event of�: the defauli by Mortgagor. in � the payment oC any installment. as required by the Note secured. hereby. �or � .
<br /> . � . � in�..ihe�pedormanoe. of� the obliSation, in� this ,mqrtgage or in the note secured. theceby. � the Moztgagee shall be enliUed to declare the . � �
<br /> � � debt secured hereby due and; payable .without notice, aad ,the� Mortgagee shall be. entitled:at ib option, . without.notice, either by ifaelf � .
<br /> � � � . or by a receiver to be appointed by the court thereof. and without regard to the adequacy of any security for the indebtednes.c ce• �
<br /> . . � �cured� hereby, to ,rnter�� upon. azid take pos9ese+on bf . the mortRaged premises, and to collect and receive the rents, issues and profits
<br /> � th �and apply. the ��e, .leas coats o( operation and collection, upon the indebtednese necured by this mortgage: said renta,
<br /> � � ' '�esues end proSfs��ieirig hereby 9ssigned to the Mo�fgagee �as further security for �the payment o[ all indebtednesa necured hereby. �.
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<br /> - -The Mortgagee ad�all 'T�aYe, the pbwer�-to- appointany�agenGor agents it may desire for .the purpase of repairing said .prem- . � � R , .
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<br /> , . � isea;:� rentlng the sarae: collecting the renta, revenues and income, and it may � pay �wt of� said �income 'all expenses incurred in� �rent- .
<br /> � � ing� and managing the eame and of coll'ecting the rentals theretrom. The balance remaining. if any, shwll be applied toward the � " �'t ���
<br /> ` � _ dixharge ot � lhe,�-mortgaga.:inde6tedness. This. aseignment is to terminate and ,become null and .void upon releese ��C this mortgaRe. �•� � '
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