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<br /> 78-s � 0096 $
<br /> i T.HE.,.MORTGAGQR_,:FVRTHER:,.'bOVENAN.TS AND , 'AGREF.3:. . ` - ;, , •,
<br /> ' . � � .. S 5 ' . . .
<br /> % Tha[ { =IN�c�a6„a� l�11 gaY the �ndebt4'dtieea,es �iaere�q6�tore provid,ed q : , ., ,
<br /> � ,� . � $�. r"� �' � ,. '" �3Gd 9, i n v' �.r ; . . ` s rJ . ` �;_7 ^�, a . � . c . .. ; . � . , , ' . S: b � i'.
<br /> That the'� �YI'oit'gago f �..,- `f �� er o[ said propnrty m fee simple �and has gooti righ! and lawful authority to. nell and ' ` " ' �
<br /> i � conve the e9m At !h Yd�e d (e8r o[ an l�en or e cumbrance; and that 'MArf a or will warrant 'aqd defend thr i ���. � „ "
<br /> .i � Y , �s»� �! ^r> et � "� w.;�r'� �' . . Y ..., P . B 8 . , F
<br /> ; '. ' title . to sa�d jprem'iee� a6�net f1� �cra�at6j„oC= a1,� pe�eona wh�spevgr. � � ��. � � .
<br /> r �
<br /> �.� _v q . v F l ^ S .. . .. � ; '.
<br /> Ta �q,y y . . � 's+ ` d pa`yabie A�I s� eial �axes' s ial �taxes., s - . . . . . � -- � � � r
<br /> �.=�`�" n iA�� � � �* t,
<br /> 6�f $e?i peC pecial, a�ses.smentx, waLer chargea, �sewe� 9erv-
<br /> �� - . .. . .- .
<br /> . > . ice chazges,� and .ot `�e^����, �hnd� charges agamst said property, and all taxes levied on the de6t aecured hereby. and to furnish the � : , - � '
<br /> � �� Mortgegee,� updn^r`eqixat. :d1EMtha -originai pr ,duplicate� receipts; tJierefw. �The Mortgagor aqrees �Ehat t},ere � shal! .he�� added to ' :. � . �T���
<br /> i � � �each monthl� pa�ment requ�red. hereunder or vnder the. evidence of debt secured hereby an amnunt eslimaled by the Mortgagee � � � � � . �'.
<br /> � . . f.. . .a 3 ka " . :..:. . ,. . . . . . . . . . . . . . . . . : X, :.
<br /> n . � to� be sufficieaLtR �4 the;� 7lvIo� V Y. Y 6 Pon the .�. presn- .. .
<br /> _ . ,�6 g9gCe,� to a as the becom� due, all � tazes; assessmen�v, and similar char es u �� _� �=
<br /> ' �" ; �ses� Allbyett"thercto; � �ny""tfeRciency }�ecau"se � t>[ the insuRiciPncy of such�- �additional p�iymenfs shall be � forthwith �depersi[ed �by Yha � � � - ' ` ->�
<br /> - � � � Mortgagor ; with thr Mortgagee uExm �demand by the Mortgagee. Any default under this parraqraPh sha❑ be deemed a de[au.3t in ' ?� � � - <
<br /> . . . Pg,� . . . . . . . . . . . � . ��� . . :
<br /> �' yment' of taxes;� assessmentis;�' nr similer charges � rnquired hereunder. � � � � � � �
<br /> � The- �Moctgagor agrees� .that t6ere ,shall. .al�. be addeh in each montlily payment of nrincipal and � intr. rest requiced. here- . �� � . � �
<br /> under an amount esfimated by ffie Mortgagee to be sufficienf to ennbte the iVlortgagee tn pny, as it � Aecnmes rlue, the insurance � � -
<br /> � �4. . pzemium on any inrsurance policy driivezed to the Morlgagea. Any dPficicncy becauve <�! the insufficiency of such additional pay- � � �
<br /> � � � menls sha�fbe fortbwith depasited� by the Mortgagor with the Mortgager vFx�n demand by th� �toitgaqe•e: Any defautt unile.r this ' � � . � �" .�:
<br /> . � paragraph shall be deemed a deEavit in lhe Payment of insvrance Premiums. If the policy ar policies cteposited arc �uch as fn�me- �
<br /> owners or all risk �licies, and the deposits are insufficient to pay th�� entire premium , thr Mortgagee may apply the depnsit to � � � �
<br /> ;
<br /> pay premiums on risks required to be insured by this mortgnge.
<br /> f FaymenLv made by the Murtgagur under the above paragraphs may, at the option nf the Mortgagee, F�e held � hy it and . �
<br /> . j��, commingled with other such funds or its own funds fur the payment � oC cueh items. nnd until eo appl 'ted, such. payments are hereby � . .
<br /> pledged � as Security for thv un(�aid bnl�nce o( the m��rtFa�e in(lebterinFsa.
<br /> � . Tu procure, deliver W. and maintain for the beneRt ot � the Mortqagee during the li[e of this mortgaqe uriginal policies and - �
<br /> . renewals thereof, delivere�ci at least ten days before� the expiration of any such ix>licies, insuring against� fire and other insurable , � �
<br /> hazarde, casualties, and mntingencies ae the Mortgagee m�y require, in an amount � equel to the � indebtednees secured� by this ..
<br /> � Mortgage. and in companies accepfable tn the Mortgaqre, with lass payablr clause in favor of and in fnrm acceptable to the Mortga- .
<br /> � �.i QEC. 111 the event any [��1Cy IY pUt !E•f1FWP(� OR 01' fx�forc ten (�AVY U� I �8 expiratinn, thE• Mortgage� may prcxure 104�IT&!tC'P OII �fIP
<br /> . � improvementx. pay the prrmium there(vr, and such sum shall Fx•cnme inimrdiately due nnd payable with intrrest at the rate set � � � . � �
<br /> � [orth in said note until paid and shal! Ix .ecurcd by this mortgaga Failure on the »art of the Mortgagor to furnish such re�ewals � � . � . � �
<br /> � � i �� � �as are herein required or [ailure to pay any sums advenced hereunder shall, at the option of the Mortgagee, constitute a default �
<br /> ! vnder the terma of this mortquge. The dalivery of Kuch policivs chall , in the evF•nt of default, ronvtitutr an assignment of the un-
<br /> � eamed premium. . � , .
<br /> � Any sums received by the Mortgagee by reason o( loss or damage insured against rnay be retained by the ?Nortgagee
<br /> � � i � and applied towerd the payment of the debt hereby secured , ar, at the oplion of the Mortgagee, such suma either wholly or in �
<br /> {{{ � � pact may be paid over to the Mortgag�r to be used to repaic such huildingc or to build ' new buildinqs in their place or for any
<br /> � �� � � other purpose or object satisfactory to lhe Mortqagee without aRecting the lien on the mortgage lor the full amount aecured here- �
<br /> bg belore such payment ever took place.
<br /> '-'�.'� : To promptly repair. restore ur rebuild any buitdingx or improvemenLs now ur hereaftNr on the premises which may be- �
<br /> y . oome damaged or destroyed; lo keep said premises in good condition and repair and free trom any mechanic's lien or other lien or . �;
<br /> c,y y claim of lien not expressly subordinated to the lien hereof; not to 4ufier or ��ermil any unlawful � use of or any nuisance . to exist on `'�
<br /> �,"i"� �d property nor to permit waste on said premises, nor to do any other act whereby the properry hereby conveyed shall become
<br /> �� veluable, nor to diminia�h or impair its value by any ect or omission ta act ; tn comply with all requirements ot law with respect
<br /> � �. •� ; • to� he mortgaged premises and the use thereoL �
<br /> �� � � � That ehould the premiees or any part therrrof be taken or damaged by reaann o[ any public irnprovement or condemnation , �
<br /> � � � proceeding. or under the right ot eminent domain, or in any other manner, the Mortgagee shall be entiUed lo all rnmpensations. � � � " .
<br /> �� `. �� � . awardn, and any other payment or rnlief therefvr, and nhall be entitletl. at its option, to rnmmence, appear en � and- proeecute in � ib� � �
<br /> � ; o�wn name any aMion or proceeding, or to make any compromise or setUement in connection with such takinq or damage. All such � � . � .
<br /> canpeneatioa: � swardr; � datrYegea, right � af action and proceeda are hereby � asaigned to the Mo:tgagee.- who may, after ' deddcting �� . � � . �
<br /> . .tt�eeefrom aLL ite: expeneee, zelease any . moneya so received� by it or . apply the same un any indebtedness secured � hereby. .The �� Mort• - � � � � �
<br /> ��� 4 � . . �&agor ;agaeea ;t.o.�exeeute. such . further. assignments. of � anytompenyatian.. awards,. damages, and rights ot action and Rroceeds as the �.� � . � .
<br /> � ; . ;. .� Morlgagec ..maY: re4uire. . . . . . . . . �, , . . . . . � � ,.
<br /> " �� � That in case of failure to per(orm any of tha covenanty herein, the Mortgagee may do on the � Mortgagor's ��behalf �everything � � � - �
<br /> � • y � . ao cavenanted; that the Mortgagee may also do any act it may deem neceasery !u protect the lirn thereof: that the Mortqaqor will �.,�"�� . � � � � . ' �
<br /> � repay upon �demand any inoneys � paid or disbursed by the Mortgagee for any �of the above parposes, and such moneys toget6er with - � � .
<br /> �� � iateeest thereon� 8t" the tate�'� provided in aaid � note ahal! become so much additional inaebtedneas � hereby secured and � may �- be in- _, ,� . . � . �
<br /> - -'t . duded in any decree forectoeing this mortgage and be paid out of the renLc or proceeda oG �sa►e nf said � premisea� if� oot otherwise - �,��., , � � . � � � .
<br /> � ` � � paid; that it ahall � not be obligatory upon the Morigagee to inquire into the validity o( any lien. encumbrances, or claim in ad- � � . . - � �
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<br /> � � �. � �. �� vapcing��snoneye�aa� above .authorised.:� but nothing herein contained. � ahall be � construed as requiring the Mortgagee. to advance any . . .
<br /> I, �: � moneys.for. any� euc6 :purpoae tror� to dm� any act hereunder; and that MortRagee �ahall rwt incur any � personat liability� becanse of any- :���Y-� ; � . � . � � ���
<br /> . � t6ing�it. may. door: omiL:todo, herevnden . _ . � . � . . . . � � . .. � � . .. :
<br /> ' ' �. �� . ,.._.�. . ., • � , � ;:.. . .. ..: � . . . . . . . � . .
<br /> � : ,. � ' In the event of the default by . INyrlgagor in the payment �of� any inatallment, as requiredby the Note .secured � hereby, � or. � � � � -�s
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<br /> . '. rf � ' � in the: performance o( �the obligafion in ihin rtiortgage or in � the� note �secured thereby, the Mortgagee shall be entitled to declate the , . . � � � �. ' �
<br /> debt.secured Iaereby due and �payabie, without notice. and the Mortgagee ahall be entitled at ita option, without notice, either by itself . . � � -
<br /> ' � � or, by a rceeiver tci 6e'�a�Ypointed ' try the rnurt thereof; hnd �� without regard " to' the adeqaaey of any necvrity for� the indebteclneac ce- � �� �
<br /> � � " bq;� :W priter�upon and- take ' {�oskesaion- of' the �mortgaged -�pnmises,� and tocollect �nnd �'receive' the �rentn; issuea and �profite � � �
<br /> 1 en?ed here �
<br /> � i : ttiereot 'arrtd' apply ttVt'�Asme" ]�se coeta��of�: operation and�collectian, upon Ehe� �, indebtedness eseca�red� by - this mortgage; said �. ren�ta; � � � k
<br /> ' • +� - �i�iti�s'"s�d"proBfs be�ng'hereby%a's'stgnedTio tKe��Mortgageoiss�� further. aec�irity� for the payment of all inde6tedness secured :l�creby. ' � �� � �. � �
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<br /> ' ' ! � The. Mortgagee ahall have the power to appoint any agent or agenta - it may desire for the purpose of repairi�g .said prem• �` �`-���' � �
<br /> ' � � isea:��.renting ,ihe §ame:., cqllectiag �the renta, revenues and income„ snd it may pay out of said .income all expenses incurred in ,rent- . � r� �
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<br /> �� . ing and managtng t�he�� eame and of co11 'ettmE the�� rentale � therefiom: The balance remaining, it any, shall be applied toward the � }� �
<br /> � .; ctisehar of the mo �rt�a�e i�ndebtedness Thia aseignme�t ie to terminate and become null and void upon relesse o[ this mortgage. . i� ;�
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