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<br /> 78--� U00979 �y
<br /> THE.. MORTGAGOR 'FURTHER . COVENANT9 AND ' AGREE3c �
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<br /> Thahthe MS�Rgagot �l} p�y the �n.debtednens $e, .hereinb�fore .➢�'ided. . ::, , , . .. . . �. . ., .
<br /> � �� � . . . . . : :.fi ,. M1 , _ . . .� .. � � . : ..� ....� . � _ . .. . . . , �. _ .. . . . �� . , .
<br /> Thak ttie Mortgagor i9,� theldwner o[ said property in fee simple and has good right and lewfu! authority to sell and �
<br /> ' � � coavey the �sema end,that the eai�ie is ftee aad dear of,any lien or eucumbrance; and lhat � Mortgagor witl warrant and tlefend the �- �. � . : ` . � � � �
<br /> . .. "title to aaid .'preinisea� �againaL',;th� cla�tnm�. of .'all' persons wliamsoever. . � .
<br /> � � To p6ty?iµfimediately wfiety due afiid 'paYable all gen¢rsl taxeb, apecial � texea, speciel aavessmenty, watrr charges, sewer seiv-� ' .
<br /> � ice charges, and .otlaerrta:es���and charges aKg�nst said properly, and all tuxes Ievied on the deht xcured hereby , and tu f�rnish the � � . .
<br /> � � Mortgagee, upon �request, with -the- original . or�� duplicata � ieceipts t6ere(or. The MortgeR�r agrrea that there ehall Ke �� addei] '�to � � , � �
<br /> each monthly payment requirr,d hereunder or under thc �evidcnce of debt secured hereby an amount estimated hy tbe Mortgagec � ' . . � �`
<br /> - � � ter. be e�ufficient t4„ 66al�Je the� �IYlortgi9lBee' to puy, as lhey becoma due. all�� taxes, us�es.aments, end similar charf;es u�n � the Prem• . � . �
<br /> ' � ises- 9itbjecY ��thereto; �tfny �i7eRciency becautie ��o( the insuRciency of such additionnl � paymenLg shall be Corthwith � depasited by thP �. �
<br /> ' Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default . imder lhis paraKraph sFiall hr deemed a delault in . . .
<br /> � ��payment � bf ta�ices, asxes'cmentF; nr simitar charges required hereunder. . � � . � � �
<br /> . - The � MortKagor agrees that tkere � shell alew be added to each monthly paymenl of principal and interrst .required here- � � �
<br /> ' under an amount estimated by the Mortgagee to be sufficient to enablr the Mortgngce tu pay, as it becomrs duc. tbe insurance � .
<br /> �� premium on nny insurance pulicy delivered to the Murt6agee. Any deficiency Fra-cnuu: of thc insuRciency of such additionaI pay- . � � �
<br /> ' ments �sRa❑ � be CoRhwith de�sited by � the Mortgagor with the Mortgegee upon demand by the Mortgngee. Any default under this . � � �
<br /> , paragraph vhall be deemed a default in the paymvnt of incurance premiums. 7E thr policy nr nO� �CICS (IPnU51LP(I are saeh as iivme- � �
<br /> ownere or all risk pulicies. and the depoaits are intiuflicient to pay the rnhn• premium, the VlortgeR<ee may apply thr de�sit. to . � � -
<br /> pay premiums on riskc mquired to be insur�i by this mortKege. � �
<br /> � Payments mxde by the MurtgaKor undrr the above �aragrtiphs may , at the b�rtiun of the Mortqegee, tie held � by it and � � �
<br /> : commingled with other such [unds nr its own fundc Cor t}�e payment of such iterns, and until u� applied, such payments arn hnreby � . : � _
<br /> - pledged as srcurily [or thr unpaid balance nt th�• mortgaKr indebtedne�s. � � � . . . � � �
<br /> ', To prxure. deliver to, and maint&in tor the benefit o[ the MortKagce during the life of this mortqaKe oriqinal �olicies and � � �
<br /> , renewals thereof, deliverEd at l�ast trn days tw[ore the rxpiration uf any such �iiciev, -insuring agai�sf (ire and other insurable ' . . -
<br /> hezards, ranaaltiea, and contingencies as the Mortgagee mny require, in an amount equul to the indebtednene secured by thia � .
<br /> Mortgage, and in companies acceptable to the Mortgaqee, w•ith loss payaMe dausr in favur of and in ic�rm acceptable to the Mortga- � , . � .
<br /> gee. In the event any policy is not renewrrt on or before ten days uf its expiration. the Mortqagee may procure insurance r�n tbe � : �
<br /> ' improvements, pay the premium therefor, and such sum s}�all become imme.diattely due nnd payable with i�terest at thr rate sel �
<br /> Corth in ssid note until paid and sha❑ be aecurecf by this mortqage. Failure nn the parf of the Mortgagor lo furnixh such renrwals � � . � .
<br /> � �� as are herein �equired or failure �o pay any sum�c advanced hereunder shall. at the option o( the Mortgagee, cunstitute a drfault .
<br /> unde� the terms of fhis mortgage. The delivrry of vuch p��licics shall , in the event of default , oonatitu�e an a;asiKnmrn [ of the um � � � .
<br /> ! � earned premium. - � �
<br /> � . Any xuma received by thr Murtgegee by rcason of loss or damage inwred aqninst may be retained by the Murtgagee .
<br /> � � and applied toward� the pxyment oE the debt hereby sccured, or, at the option of the Mortgagee, such sums .�ither wholly or in �
<br /> . � pazt may Iw paid over to the Mortqagor tu be used to repair such huildings or to build ' new buildings in their placr or for any .. .
<br /> � ot}ter purpo!ie or object salisfactory to the Mortgagee without afTesting [he lien on the mortgage for thr full amaunt secured here- � � .
<br /> by tmfore such Payment ever tcMk place. � � �
<br /> To promptly repair, restore ur rebuild any buildinKr � r imprnvement,s now ur brrea[tc r on the premises which may he• � � � � �
<br /> � rnme damaged or destroyed ; [o keep said premises in guod condition and repair nnd frer, (rum any mrchanic's lien ur other lien or �
<br /> � � daim of lien not expressly subordinated to the lien hereof; not to suRer or permit any unlawful use o[ or any nuisance to eziat on � . �
<br /> �� seid property nor to permit waste on said premises, nor tu do any other act whereby thr property hcreby conveyed shall become � . � �
<br /> � ]eas valuable, nor to dimininh ur impair it�r value by any act or omission to ack to cnmply with a❑ reyuirrments of law with respect � � � � �
<br /> � to the mortqaged premiees and the use there:of. � � � �
<br /> That should the premises or any part thereof be takrn ur damaged by reason o( any public improvemPnt or condemnation � . . � �
<br /> proceoding, or under the right o( rminent Jomain, ur in any o[her manner, the M1lurigagt•r shall t�e entitled to :+❑ comprn.catione, � � _
<br /> � awards, and any other payment or relief therefur, and shall �be entitled, at �its � option, lo commence, eppear� �in � and prosccute� in �ifa � � �
<br /> own name any action ur prceeeding, ur to make any cumpromise or settlemenl in connection with such takinq ur damage. All such . � � . . ,
<br /> eoQipelmation.� awarda. damages. riRht b( action and proceeda are hereby assigned to the Mortgagee. who rtaay. after � deducting � .
<br /> � therelrom all its ezpenees, release any moneys so received by it or apply the same on any indebtedness secured hereby. The Mor4 � ��
<br /> � gagoragtees � to�� ezecute auch further assignmentv of any compensation, ewards, damages, and rightv of actiun and nroereds as the : � : �
<br /> '. MortgaqCee � maY reQuire. . . . . . . . .
<br /> • � That in caae of failure to perform any o( thr rovrnanta herein, thr MortgaRee may do on fhe MortgaR�r's behal! everything � � �
<br /> so covenanted; that the Mort$agee may also do any act it may daem nrc�rexary to protect the lien thereof; that Ibe MortgaRor wiU ,���. � � ' � �
<br /> �� � repay �upon �demand � any moneys paid or disbursed by the Mortgagee for any of the aAove purpases, and vuch moneys togetfier with "j . .
<br /> " interest thereon� at the �rate provided in said note �shall become so much ndditional in�ebtednres hereby secured and may be in- � ' ' � .
<br /> � eluded in any decree forecloaing thin mortgage and be paid out ot the rents or proceeds of �ale ot eaid premises if not otberwine - � `•�� - � � � � � �
<br /> . � paid; that it shall not be obligatory upon ikae Mortqagea to inquire inlo the validity o[ any lien, encumbrances, or claim in ad- � _-: � � . , .
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<br /> vaacing �moneys as above authorized, but nothing � herein contained shal) be cor�vlrued es requiring tbe Mortqager to advance nny �� ;�
<br /> � � momeys� forany .such�purpoee nor to do any act hereunder, and that Mortgagee shall not incvr any peraunal. liability becauae of any- . .. ..
<br /> � thing- it�may, do or: omit to do hereunder. . . . � � � � � � � � � �
<br /> � In the event �oI the �default by . Mortgagor in the payment o( any inatailment, as requirecl by the Note secured hereby, or : � . . .
<br /> " ' � in the per[ortnance o( the c.hligafian in � this mortgeKe or i � the note secured thereby, the Mortgagee shall be rntitlaY7 tn declare the - . � � . � �
<br /> �` � � debk aecured .hereby. due . and. payable �without notice, and the Mortgagae ahall be entitled a[ its option. without notice, either by itself _ .
<br /> ot�. � a tecEiver to:be'�ppptiintgd by the Murt thereoC, and � without regard to`the �adeqvacy of any security for the indebteclness se-
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<br /> - � edrid h�rCby. to entei lipon and take�"-pbs§essiori of the morfgsged` premiaee, and -to eotlect and ' recerve� the mnts; issues and profita � � a
<br /> , � " � � ° eae costs of operation �and �mllection, uport Ehe � it�debtednesa securnd � by � this morfgage; said rents, . � � �.
<br /> iewes'snd inoSfa�be�nShereby , .. . �
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<br /> ; �, �- . ��� �a, a�'y ���,�e ,aseigned' tofh¢�Mo'tgaB�� � further� securityforthepayment� o[ allindebtednesssecurcrlheretiy. �,,. �_ . . _ "m � ;
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<br /> � � The Mortgagee shall have the pawer to appoint any agent or agents � it �may desire for the purpo-re o( � repairing said prem• 1! i
<br /> , �' � ieea; renting the spme; collecting the � rente, .revenuea and income, and it may pay out of xaid income all expenses incurred ia renb ; i
<br /> . ,, . . . ing and managing �fhe eame and of �collecting the mntals � Lherefrom. . 3'he balance remaining, if eny, shall tx applied bward the , F , i�
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<br /> � ' � ��� - di6charge � of� the mortgsge �ndebtedness. This asaignment is to terminate and become nulL and void upon release ot this mortgaRe. � �= �a ��
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