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<br /> 78� �`� � THE1 ORTGAGOR FURTHER COVENANTS AND AGREES: �
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<br /> That the Mortgagor will pay the indebtednens as hereintx�tore prrnided. , ; . � - '� - � �
<br /> � That ._the 'Mortgagor " is the dwner., of eaid� property : in fee simple . arid . has � good. right and�� lawtul authority Yo: sell and .
<br /> rnnvey the same,and that theaema;,ia.tzee snd clear of 'any lien or �encumbrance: � and that Mortgaqo� will warrant and � defend tho . �
<br /> title to said prem�ses against the'�' claims o[ all persons whomeoever. � � � �. � �
<br /> r � ., .- . _ .'_.� . . ` . . . , . . . . . ,... , _ � - . . . . . .
<br />� To pay immediately when- dU',e'snd payable �all general taxes; "bpeciaF taxes, special assessments, water chargea, sewer serv- �
<br /> ice cherges.. � androther tsxe's ;erid���chaiges'�against�. eaid 'propedyr �and . all tsxea Ievied on the debt secured hereby, and to furnish the .,
<br /> ' Mortgagee,t'qpon zequest, with •�the original or��.;duplicate � receipb ,therefor. � The Mortgagor. ag:ees that there shall be added to
<br /> each monthly payment �� required hereunder or under the .evidence of debt secured hereby an amount estimated by the Mortgagee
<br /> to be auH'icieat to enable the MortRegee W: pay..;es � they � become due.�� all . tazes, asses.smenls, and similar eharges upon tbeprem- � �
<br /> iaes subject_tl�gceto, ,any. .de&ciency. .because. of the iqsu}ficiency of . such additional paymentx shall be (urthwith deposited by_ the _ . �
<br /> Mortgagor witfi t}ir Mortgagee ���upon��;:demand by the Mortgagee. Any ����defauit under this paragruph ehall be deemed a de(ault � in ' - �
<br /> ` paymenC� of faxes,- asseasments, � nr�� simiis� charges required hereunder. � � � � " � � � - ��� � �
<br /> � � � � � The Mortgagor agrees that there shxll also be added Lo each monthly payment of principal and interest required here-
<br /> � vuder art� amount �estimated by the Mortgagee to .be sufficient [o enable the MortRagee - to pey, as it becomes due, the �insuranee
<br /> � premium on any inaurance policy delivered to the Mortgegee. Any de6ciency because of the irssufficiency ot such additional pay-
<br /> menLs shall be forthwith depnsited by the Mortgaqor with the Mottgagee upon demand by the MortKaKt'e. Any default under this
<br /> � paragraph ahall be deemed n de(ault in the payment of insuranca premiums. I[ the policy or policies deposited are such ao hvme-
<br /> owners or al! riak policies, and the deposits are insu(i'icient to pay the entire premium, the Mortgagee may apply the deposit to �
<br /> pay premiums on riska required to be insure+d by this mortgage. � � � � � � .
<br /> Payments �made by the Mortgagor under the above paragraphs may, at the option o[ the Mortgagee, be held ' by it and
<br /> commingled with other such funds or its own fundx for the payment of such items, and until so applied, such payments are hereby �
<br /> . pledged as security for the unpaid balance of the mortgage indebtedness. �
<br /> � To procure, deliver to, and maintain for the benefit of the Mortgagee during the life of this mortgage original policies and �
<br /> � renewals thereof, delivered at least ten days before the expiration of any such policies, insuring- aRainst fire and uther inaurahle - � �
<br /> hazardn, caeualtiee, and conlingenciee as the Mortgagee may require, in an amount equal to the indebtedneaa secured by � this �
<br /> � Mortgaqe, and in companies acceptable [o the MortRagee, with foss payable claut�e in favor of and in frirm acceptable to the Mortga- �
<br /> gee. In the event any policy is not renewed on m before ten days of its expiration, the Mortgagee muy prucure insurance on the ' ,
<br /> imprwements, pay the premium therefor, and such sum shall becnme imniediately due and payable with interest at the rate set
<br /> �� forth in said � note until' paid � and shall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such 7enewals �
<br /> - . � � � ' ae ace herein� required or failure to pay any sums advanced hereunder ahall, at the option ot the Moctgagee, constitute� a �lefault � �
<br /> under the . tcrms ot this : mortgage. The delivery of such policies sha�l, in the eve�t of defaull, constitute an assiqnment ot the un- �
<br /> eerned premium. . . � � �
<br /> Any aums received by the Murtgagee by reason of loss or damage insured against may be retained by the Mortgaqee �
<br /> and applied toward the peyment o[ lhe debt hereby sewred, or, at the option of the Mortgagee, such sums either wholly or in
<br /> � pert may be paid over� to the Mortgagor to be used to repair euch buildings or to buitd ' new buildinRa in their placr or fnr any '
<br /> other purpoee or object satisfactory to the Murtqagee without affecting the lien on the mortqage for the full amount secured here- � �.
<br /> by Aefore such payment ever look place_ . �
<br /> -. To promptly repair, restore or rebuild any buildings or improvemrnts now ur hrreafter on the premiyes which may be• � � �
<br /> rnme damaged or destroyed ; lo keep said premises in good condition and repnir and [rer [rom any mechanic'x lien or other lien or - �
<br /> claim ot lien not expreasly subordinated to the lien hereof; not to sufier or permit any unlawful use of or any nuisance to exist on
<br /> � said property noz to permit weste on said yremiaes, nor to do any other uct whereby the properry hereby conveyed shall become �
<br /> �� leas valuable, nor to diminish or impair its value by any act or omission to ack to comply with al ] requirements of law with respect . �
<br /> . to the mortgaged premiaes and the use thereof.
<br /> That ahould the premises or any part thereof be taken or damaged by reason ot any public improvrment or cundemnation
<br /> � proceeding, or under the right of eminent domain, or in any other manner. the b4ortgagee shall be entitled to all compensations, � �
<br /> awards, and any other payment or relief theretor, and shall be entiNed, at its option, to commence, eppear in and praaecute in its �
<br /> . own name any action or proceeding, or to make any compromise or settlement in connection with such takinq or damage. All such �
<br /> compenaetion. awards, damaqes, right of action and proceeds are hereby asaigned to the MortRAR�'e. who may, after deducting �
<br /> � themfrom all ita e:penses, release any moneys so received by it or apply the same un any indebtedness secured hereby. The MoN• �
<br /> gegor agrees to execute sueh further ansignments of any compen�ation, awarcls, damages, and rights of actiun and Rroceeds as the �
<br /> Mortgegee may require.
<br /> � , . , 2'hat in case of faiture to perfurm any o[ the covenantss herein, the Mortgagee may do on the Mortgagur's F�ehalt everythinq
<br /> � so rnvenanted: that the Murtgagee rnay also do any act it may deem necrssary tn proteM the lien thereof; that the Mortgaqor wiU "°7
<br /> � repay upon demand any moneys paid or disbursed by the Mortgagee for any of the abuve purpo9es, and such moneys togetfier with � � �
<br /> �� intetest thereon at the rate prwided in said note shall become so much additional indeb[rdness hereby secured and may he in• ��
<br /> � cluded in eny decree foreclosing this mortgage and be paid out of the rents or proceeds ot sale of said P*emixes if not otherwise � '
<br /> . paid: that it � shall not be obligatory upon the Mortgagee to inquire into the validity of any lien, encumbrances, or claim in ad- � .
<br /> vancing moneys as above aulhorized, but nothinR herein contained shall be construed as requiring lhe Mortgagee to advance any " �_ ,
<br /> mo�ya for any auch purpose nor to do any act hereunder; and that MortgaRee shall not incur any persunal liability beceuse o! any-
<br /> � [hing i� may do �or umit �to do bereundec � - � �
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<br /> . . � In the event ot the default by Mortgagor in the payment ot any installment, as required by the Note secured� hereby. or --!
<br /> - in the performnnce of the obligation in this mortgage or in the note secured thereby, the Mort�agee ehall be entitled to declare the .
<br /> , debt seCured hereby due and payabl¢ without notice, and the Morlgager ahell Lr entiUed at ita uptiun, withuut nutice, rilher by itsell
<br /> � or by a recciver to be appointed by the court thereof. and without regard to the adequacy of any security for the indebtedness se-
<br /> . cured� � hereby� to� ente{, upon and take poa§ession-. of the � mortgaged premiaes, and to collect and receive �the rrnts, isauea and profits �
<br /> � thereof. �and spply, the aeme, Jesa caets o[ operation and collection, upon the indebtedness secured Ay this mortgage; said rnnts. .
<br /> is4ues�and pro5b being hereby.ae.rignecl to the Mortgagee aa turthor security �or the payment of aI7 indebtedness srcure-d hereby.
<br /> � < � � � �- The � Mortgagee shall have the power to. appoint any �agent or �agents it may� �desire tor the purpose of repairing said prem- �
<br /> .: � iees: renGng the eame: collecting tlse rents, revenues and inmme, and it may pay out of rsaid income all ezpenses ineurred in rent-
<br /> . . ing and managing the same and of collecting the rentals there[rom. The balance remaining, if any, sha❑ br xpplied toward the ' � � �_.c; � . ,�� �
<br /> discharge of the. mortgage indebtedness. . This asaiR�ent is to terminate and become null and void upon release of this mortqage. ' � _ �,,.,;:-. ,
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