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<br /> ag� U O 1 � 93
<br /> T.HE MORTGAGOR FURTHER COVENANTS AND AGREES :
<br /> That the Mortgagor will pay �the indebtedness as hereinhefore prwi�¢d � ,. , -, . - � �
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<br /> 'I'hat the .M,ortgagor is tbe awtier oY,asid proper;y in ,fee.;,mm�le:aad has��good right ���;and lawfu! authority to � setl and - �
<br /> �� I. , . . convey thesame arid thattheeame �stree �and'�clegr�of any �6en or encurobrance; and`- that �Mortgagor will warrent and defend tbr� _� '�` I
<br /> title to said. premisea aqaiiia! t�ae ctsiims of all persons whomsoever.
<br /> ice �.. :...�, ._�_., . :..�. _ . :
<br /> � �� � Td par �mmEdiateiy. W1�n s,3raFe+Bnd p�y' aale &ll .general. �tazCa, special� taxes, apecial as4essmenfs, water chargea,� aewer serv- �
<br /> chargesi and-o e : - .'�.. ' . � . .
<br /> �1 , i �. �'��!!��Char$ee:"9�sins{"bpld "p"roperty,, A�d: all ' taxes ; levied on the drbt aecured hereby; and to (urnish Che
<br /> �, Mortgagee„"tlppn' ;requpak waih'�, the .: oiigi�al or dupticale - receipfs Cherefcir: � The Mortgagor agrees that tbere shall be added to � ' � �
<br /> each monthly payment � required hereunder or under the evidence of debt secured hereby an amount estimaterl by the Mortgagee
<br /> to be auHioent to enable the MortKagee to. ysy, . ae � they become due. � all taxes. nssessmenRs, and similar charges upon the prem •
<br /> . isee sub�ecC thereto;,_any dafle'I,ency begause of lhe insufficiency o( such additional payments shall . ix torthwilh de�ited by the
<br /> ' Mortgagor vitiith th'r _�fortgageB. upoa demand by the Mortgagee. Any defeult under this Paragraph shalt be deemcd a rlefault�- in . � �
<br /> payment oC-�� faices, asseasments, o� simil'ar charges � requiied herPundrr. � � � �" � � �� � � � � - � � �� � - � �
<br /> �� � � ' �' The Mortgagar agreea� that there ahall alxo be added ta each monthly payment of principal and interest required here-
<br /> � � under an amount �eectimated by the Mortgagee to be suf5cient to �enable the MortgaRee to pay, �as it becomes due. the insurance �
<br /> � premium�_on -any insurance� policy delivered fo the Mortgagee. Any deficiency because af the� insuH'iciency of auch additional. pay-
<br /> ments shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortqegee. Any defauit under this
<br /> � paragraph shall be deemed a default in the payment of insurance premiumx. If the policy or �wlicies depositcd are such as, hume- �
<br /> � owneia or' all riak - policies, and the deponits are insutficient to pay the entirr premium, the Mortga,gec may apply � the de�wsit to
<br /> pay premiums on riska required to be insured by this mortgage. � -
<br /> � Payrnents made by the Mortgagor under the abov� paragraphs may. at the option of the Mortqagee, be hrld � by it and �. �
<br /> commingted with other such funds or its own funds for the payment of auch items, and until so applierl, such pnyments are h.�reby
<br /> pledged as security for the � unpeid balanre of the morigage �indebtednes.s.
<br /> To procurn, deliver to, and maintain for the benefit of the Mortgagee during the life of thi� mortgage uriginal policies and �
<br /> renewals thereot, delivered at Ieast ten days before the e:piration of any such �licies, invurinE: against fire and other invurable
<br /> � hezarde, casualties, and contingencies as the MortgaR� may require, in an amount equnl to the indebtednenes secured by this
<br /> Mortgage, and in companies acceptable to the Mortgagee, with losx payable clause in tavor o( and in form acceptable to the Mortga- �
<br /> gee. In the event any policy is not renewed on or boforr [en days of its rxpiration, the MortRagee may procurr inevrance on the �
<br /> imprwements, pay the premium therefor. and such sum shall become 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 the part of the Mortgagor to furniah such renrwals
<br /> as are herein required ur failure to pay any sumx advanced hrreunder shall, at the option o[ the Martgagee. conetitute a detault
<br /> under the terrna of this mortgaRe. The dPlivery of such palicies shall, in the event of default, constitute an asvignment af the un- � �
<br /> earned premium.
<br /> Any aums received by tbe Murtgagee by reason o( loss or damage insured against may be retainecl by the Mortgagee .
<br /> and applied toward the payment of the debt hereby secured, or, at the option of the Mortgagee, such sums either wholly ar in
<br /> part may be paid over to the Mortgagor to be used to repair such buildings or to bui�d ' new buildings in their placr or for any �
<br /> � other purpos� or object satisfactory to the Mortgagee with�ut aftecting the lien on the mortgaqe (or the [ull amount srcured here-
<br /> by before such payment evrr tuok place. � .
<br /> To promptly repair, restore ur rebuild any buildings or improvemenLs now ur hrrea(ter on the premis¢s which may he- .
<br /> come darnaged or destroyed ; to keep said premises in good condition and repair and frer [rom any mechanic's lien or other lien or �
<br /> claim of lien aot expreaely aubordinated to the lien hereoh not to suRer or permit any unlawful ux of or any nuisance to exist on
<br /> said property nor to permit waste on said preminea, nor to do any other act whereby the property hereby conveyed shall become �
<br /> leea veluable, nor to diminish or impair its value by any act or omiasion tu act : to c�mply with all requirements of Iaw with rrsP�t
<br /> to the mortgaged premises and the use thereof.
<br /> That should the p�emi.ses or any part thereof be taken or damagerl by reaw,n of any public improvement or condemnation
<br /> procceding, or under the right o! eminent domain, or in any other manner, the biortgageF shall be enlitlecl to all compeasationa. . .
<br /> awards, and any other payment or relief therefor, and shall be enLiUed, at its uytiun, to cummence, appear in and prosecute in itv
<br /> own name any action or proceeding, or tu make any compromise or settlement in connection with such taking or damage. Alt such
<br /> compeneation. �awards, damages, right o( action and proceeds are hereby assigned to the Mortgagee, who may, after detlucting
<br /> therefrom all ifa expensee, release any moneys so received by it or apply the same un any indebtedness secured hereby . The Mort- �
<br /> gagor agrees to ezecute such farther assignments of any compen�ation, awards, damages, and riQhts of acti<�n and Proceeds ae the
<br /> Mortgagee may reqvire. �
<br /> - � ThaL in caer of failure to perform any of the covenants herein, thr Mortgagee may rlo on the Mortgagor's behalt every2hing
<br /> ao covenanted: lhat the Murtgagee may also do any act it may deem necessary [o protect the lien thereof, that thr MortgaRor will
<br /> repay upon demand any moneye paid or disbur�ed by the Mortgagee for any o[ the above purposrs, and such monrys toFet6er with
<br /> � interest thereon at tbe rate provided in said note shall become so much additional indebtedness hereby .t�cured and mny Fw im � �
<br /> cluded in any decree torecloaing this mortgage and be paid out of the rentq or proceeds uf aale of said premises if not otherwise �� �� -
<br /> paidC that it aha1T not be obligalory upon the Mortgagee to inquire into the validity of any lien, encumbrances, �ir claim in ad- � `
<br /> vancing moneys as above authorized, but nothing herei� contained sh�ll be construed as re�uiring the Mortgagee to advance any . �
<br /> moneya for any such purpose nor to do any act hereunder; and that Mortgagee shall nut incur any personal liability because ot any• " �
<br /> lhing it �may do or omit to do hereundec .,:: .
<br /> � � �- � - In the � event ot the default by Mortgegor in the payment of any inetallment, as required by tbe Note secured hrreby, or
<br /> in� thr .perfoa+tance of th� o,bligation in thia mortgege or in the note aecured thereby, the Mortgagee shnll be enlillecf k> declare the �
<br /> debt secured hereby due an�i payable without notice, and the Mortgagee shall be entiqed at ita option, without nolice, either by it9elt � - �
<br /> or by a receiver to be appointed by the court thereof. and without regard to lhe adequacy o( any security for the indebtedneas se�
<br /> � cured �:heseby, to� enter upon and take. poskeseion� of the mortRaged premises, and to collect and receive the rents, i�su��s and profits
<br /> thereo�, and apply the. aame, lesa conts of operatiun and culLection. upon ihe indebtedna>ss necured t�y thi� morlgaRe: aaid rents.
<br /> iesaes and proSfd being hereby atsigned to the Morlgagee as further security for the payment ot alI indeblydnvss serurwl herrby.
<br /> ��• ' TEie ��Modqa6� �all haVe�" tha power to �appoint any agent� or ageniq it may �desire for the purpose of �repairing seid prem-
<br /> �. iees; renting tt+e aame; rnllecting the rents, revenuen and income, and it may � pay out of aaid inrnme all expenses incurred in rent- � � :�
<br /> � ing and managing the xame and of collecting the rentala therefrom. The balance rrmaininR. if any, shwtl be applied tnward thr � "� `a� �;
<br /> dixherge ot the. mortgage . indebtedneas, This assignmenl iH to terminate and becomc• null and void u � 5t,."� s "
<br /> . . . . . . {wn releasr uf thic morlgage. � >�
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