|
s- _ � _
<br /> � �
<br /> � s-� U01033 �
<br /> T.HE MORTGAGOR FURTHER COVENANTS AND AGREES :
<br /> That the Mortgagor wili pay �thr indrbtedn�ss as hereinbe(ore provided. �� ; � . ; - .- - �
<br /> f i �_3 �, . . .. ' 'l - ..
<br /> ��� � � That tberMo�tgagor is the���owner o[' :s&id property in fee simQ2e .,and has."good: right �and�. tawfut authority 10. seli and,. �, . . � . � �
<br /> � corivey the abm'p an� :thatthe;same;ipxfree and-rlenz �of�any 1ien � ar��.entuml5rance; - and�� that � Mortgagor will � warrandand'� de(end the "' �`^°_ ' � , � -
<br /> � . . .. tit[e to said Prem�ees aqainet"�.the c�aiTs of all persons whmnsoever. � . . . . . . .
<br /> � Ta pay° imrhediately.ryvhen t�ne�%and payable aU general 4axea, epecial� taxes, apecial as�ssmentn, water charges, sewer serv- . '
<br /> � ice charges:. and other taxes al�d charges against7said _property, a�d all . texeq�-levied on the deb! secured hereby, and to [urnish the . � .
<br /> Mortgagee„upot►;dreyyest, with tlie'•original or �.duplicate. � receipta ." thBcefcir."'The �Mortgagor . agree�s that tbere shaA be added �to �
<br /> � each montFily payment required hereunder or under the evidence uf debt secured hereby an amount estimated by the Mortqagee .
<br /> . to be su@'ident to � enable the Mortqagee to . pay, as� they bernme. due, ali taxes. assesements, and cimilar charges upon. the prem• � � � � �
<br /> ises subject;theretoa, any d��c,igncy , b€cause� of the insufficiency of .such . $dditional payments shall be forthwith .deposited by tbe . �
<br /> � . Mortgagor :witfi ihe:l�Ylo.ctga�e'�.aport.�;demend by the Mortgagee. Any 8efauit uader this paragruph shall be deemed a default' ln . �
<br /> . '�peymeri£ of� taxes, as's'essments, nr :cimilar �churges required � hereuniler. � � � � � � �� � � . �
<br /> - � �. The Morlgagor agrees � that there shall aLwo be added to each monthly payment af. principal and inlerert required here- �
<br /> . . under aaamount,estimatecl bY LhG Mortgagee Lo. be . xufGcient to-enable the Mortgagee to pay, as it bec<�mes due, � the ineurance � . . . �
<br /> � � � premium on eny insurance policy delivered to the Mortgagee. Any deficiency because of the ins�ff'iciency of xuch additional pay- , �
<br /> � menls aha►i be forthwith deposited by the Mortgagor with the Mortqaqee upon demand by !hc Morlqagee. Any default nnder this �
<br /> paragraph shalt be deemed a default in the payment of insurance premiums. I[ .the pulicy or policies deposited are such ,as hume- �
<br /> ownera or all riak policies, and the deposits are insutl'icient to pay the entire premium, the Mortgagee may epP�Y the deposit to .
<br /> � pay premiums on riske required to be insurerl by this mortKage. ' � � - � � � �
<br /> Payments made by the Mortgngor under the abov< paragraphs may, at the opti��n ot the Murtqat;ee, be held ' by it and .
<br /> cammingled with uther such funeL4 or ils own funds for the paymenl of Such items, and until so applird, such paymentc are hereby � �
<br /> pledged as security for the unpaid balance of the mortgage indebiednesa. � �
<br /> � To procure. � deliver to, and maintain for tha Fx�nefit of the Mortgagee durinq the life oF this mortgage original policies and � �
<br /> renewala thereof, delivered at least ten days before the expiration of any such policies, insuring against fire xnd other insurahle ��
<br /> hazarde, casualties, and rnntingencies ae the Morigegee may require, in an amovnt equal to the indebtedneee secured by thie � . �
<br /> Mortgage, and in companies acceptable to the Mortqagee, with los» payable clause in favor of and in form acceptable to the Mortga- , � � �
<br /> � gee. In the event any policy is not renewerl on or Fwfore ten days nf iLe expiration. the Mortgagee may prc>cure insurance on the : �
<br /> imprwemenis, pay the premium therefor, and nuch sum shall becume immediately due and payable with interest at the rate set �
<br /> forth in said note until paid and shall be .ecured by this mortKagr. Failure on the part of the Mortgagor to turnish such renewals � , �
<br /> as are herein required or taiture to pay any sums advanced hereunder shall, at thr option of the Mortqegee, constitute a de[ault � �
<br /> under the terma ot this mortgage. The delivery of SUl'II NUIICIPS ehall, in the event of de[ault, constitule an assignment nf the um � . . . �
<br /> earned premium_ � � -
<br /> ' Any suma receivrd by the Mortgagee by reason of loss or damage insurnd aRainst may be retained by the Murtgaqee . . � �:
<br /> and applied toward the payment of the debt hereby ucured, or. ut the option ot the Mortgagee, such sums either wholly ur in �,
<br /> part may be paid over to lhe Mortgaqor to be used to repair such buildings or to build ' new buildings in their place or for any � : �
<br /> . other purpoee or object satisfactory to the MurtgaRee without affecting the lien on the mortgage for the full amoont secured here- . �
<br /> � by be[ore such payment ever tcwk place. � � �
<br /> � � To promptly repair, restore ur rebuild any buitdings ar improvementc now ur hrrcafter on the premiYes which may 1�e- � .
<br /> �. rnme damaQed or destroyed: to keep said premises in goud condition and repair and tree from any mechanic's lien or other lien or �
<br /> " � claim of lien not expresqly subordinated to the lien hereof: not to auNer or permit any unlawful use u( or any nuisance to exist on . �
<br /> � seid property nor to permit waste on said premises, nor to do any other act whereby the Property hereby conveyed shall become � .
<br /> lees valuable, nor to diminish or impair its value by any act or omission to act ; to comply with all rc�quirements of law with respect � . .
<br /> to the morlgaged premises and t6e use thereof.
<br /> � That ahould the premises or any part thereoi be taken or damaged by rea�n of any public improvement or cundemnation � �
<br /> proceeding. or under the right o[ eminent domain, or in any other manner, the Mortgagee shall be entitled to all compensations.
<br /> � awards, and any other payment oz relief therefur, and shall be entitled, at its option, to commence, appear in and prosecute in i!a �
<br /> own name any action or proCeeding, ur to make any compromise or settlement in connection with such taking or damage. All auch
<br /> compensaiion, awerdn, damaKPs. r�Rht uf action end proceecls are hereby assigneKi to the MortRagee. who may. efter deducting
<br /> � therefrom all its expenses, release any moneys so received by it ur apply the same on any indebtedne�s secured hereby. The Morb .
<br /> - gagor � agrees� to execute such further anaignments of any compensation, awards, damagea, and righGs of aetion and nrec.�ceda aa the
<br /> � Mortgagee may � require: - �
<br /> . That in. case.of failure to Perturm any of the covenanta herein, the Mortgagee may do on the Morig�gui s behal( everything .
<br /> no covenanted; thet the MortRaBee may also do any act it may deem nrcNssary to protect the lien thereof; that [he Mortgago� will �
<br /> repay upon demand any moneys peid or disbursed by the MortgaRre for any of t6e above purpaxes. and such moneys toRetFer with
<br /> ' interest thereon al the rate provided in said note shull become so much edditional indebtavinesa hereby xrcured and mey be in- y �
<br /> � � cluded in any decree forecloainq this mr�rtgaRP and kw paid out of the rents or proceeds of aale of said premises if not otherwise �
<br /> paidC that it �shall � not � be obligatory upon the Mortqagee to inquire into the validity of any lien, encumhrances, or claim � in ad• �. �
<br /> vencing moneys se above euthorized, but nothing herein contained shall be construed ac requiring the Mortgagee to advance any �--
<br /> � moneyn for any such purpose nor to do any act hereunder; and thet Mortgagee xhall nut incur any pereunal liaMility fiecause of any- " �
<br /> � thing �it may do or omit to do hereunder. - � � - � .
<br /> � � � . Ia the event of the �defa.ilt by Mortgagor in the paymenc o( any inatallment. aa requirani by the Note securrd hereby, or
<br /> - in � the� performance of the obligalion in this mortgage or in the note aecured thereby, the Mortgagee shall be rnlitled to declare the ;
<br /> � debt aecured hereby due and payable without notice, and the Mvrtgagee shall be rntided al its option, without notice, eilher by ifaelt :
<br /> or by a receiver to be appointed by thr, court thereot. and without regard to the adequacy of any security (or thr indebtedness� se- .- �
<br /> . � �cured:, hexeby,. to �entec , �apon . azul lake pos§eseion of the mwtgaged premises, and to coQect and receive the renLs, issuey and profits
<br /> � the�eo(, �� and apply �the� �tne. ]eas coxta o[ uperation and collection, upon the indebtedness secured by thic mortRage; said renta.
<br /> • :iedaies and .pro6ta� lieing �hereby. assigned to the Mortgagee as turther security for the payment o[ alf indebtednezs s�ecured .hereby.
<br /> - � The Mortgagee ahall have ��the� power? to appoint any agent or- agenU it may� denire for the purpose of repairiag said Prem- a .
<br /> � iees; centing [he same; collectinS the renb, revenuea end income, and it may pay out of said income ell expenses incurred in �rent-
<br /> � ing and managing the same and of collecting the rentaln therefrom. TMe balance remaininq, if any, shall 6e appliad toward the . _.:_ . , w �"'- � t�,,
<br /> diacharge o( the moctgage �.indebtedness. This asaignment ia to terminate and .become null and vyid upon releeae o( this mortRaRe. "`'�- 'qi.� '
<br /> . . . . . . . . � ' . �,
<br /> .
<br /> L : _ _ _ . : , . . _ _ �%�
<br /> _____ _ __ _ __ _ _ _ __ _---
<br /> --- - . ____________ ___ - --- -- -_ - -
<br /> �..
<br /> . . , � .-,y{ ��'� �
<br /> . . . , . � �: . .. .
<br /> J
<br />
|