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<br /> 78-. U 01218 � .
<br /> T.HE MORTGAGOR FURTHER COVENANTS AND AGREES:
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<br /> Tha! the Mottgagor will pay the indebtedness as hereinbefore provided. < '' � � . . . ,,,, �_: '� �
<br /> � That' the,,'�tY�sgor is the : awner, of aaid pr.operty in;fee simple�,and;,has Sood �.right . and tawful authority to sell and . . .
<br /> . � rnnvey the eame aat�' �iat'the.�eameis,fret and`clear of any lien or�encumbrence, � end� that � Mortgagor will warrant and � defend thN. � � _
<br /> � . . title to aaid Premises aqa�nst� the daims o[ all persons whomaoever. � . . . . . . . . . . .
<br /> Tq pay� immed[ateiy ti�'vhen due� and pay6ble:'all lgeneral "taxes� speciaL taxes, apecial assessmenfs, water cherges, sewer serv-
<br /> ice charges:.and� other taxea � and chsrges'-sgaSnsC� sa"id� proparty. � and all "taxes: levied oc-. the debt secured hereby, and to [urnish the � � .
<br /> Mortgagee, �upon :request,,, with the`original or ��dupticate receipts therefor:' The . Mortgagor ,agreex that thern shall be � added � ao `
<br /> each montfily pa7mfent �required hereunder or under the evidence of debt seeared hereby an amuunt estimated by the Mortgagee
<br /> to be suH'ioent to �� enable fhe ��. Mortgagee to. pay, as they�. become due; atl � taxes. assessments, and similar .charges upon the �peem• � �
<br /> ises aubject; theireto: ..any deficiensy, bec§.uae of ..the . insutficiency of such. additional payments shail be forthwith deposited. by the .
<br /> . Mortgagor ��w�th"='the�.iMortgagee_'upo+r�`demend by lhe Mortgagee. Any default under this pnraqraph shall be deemed a default. in .. .
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<br /> psyment � of (azes, aseessments, �r similar charges required hereunder.
<br /> The Mortqegor agrnes that there shall also be added to each monthly payment of principal and� interest required here- �
<br /> � under �an •amount estimated by the Mortgagee to be su(Rcient to enable the Mortgagee to pay, as it becomea due,. the � ingurance
<br /> � premium on any insurance policy detivered to the Mortgagee. �Any deficiency becaux of the insufficiency of � such additional �� pay-�
<br /> ments shall be forthwith deP�ited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br /> paregraph ahall be deemed a default in the payment of insurance premiums. If the poticy or poticies deposited are such a5. hume•
<br /> ownera or all � risk policies, and the depositc are irv�ufficient to pay the entire premium, the MortgaRee may app1Y the deposit to
<br /> pay premiums on riskx mquired to be insured by this mortRage. .
<br /> Paymenfs made by the MortRagor under the ahove paragraphs may. at the option of the Mortgaqee, be held � by it anJ �
<br /> � commingled with other sach [unds or its own funds for the payment of cuch items, and until so applied. such payments are hereby .
<br /> pledged as security for the unpai�l balance oC the mortRage indebtedness. . �
<br /> To procure, deliver to, and mainlein for tbe benefit o[ the Mortgagee during the life ot this mortgage original policies and
<br /> ' renewals Lhereof, delivered at least ten days before the expiration of any such policies, insuring against fire and other insurable . .
<br /> � hazards, caeualties, and mntingenciee as the Mortgagee may require, in an emoun! equal to the indebtedneae secured by this �
<br /> Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in fnrm acceptable to the Mortga- �
<br /> gee. In the event any policy is not renew�rl un or before ten days of itv expiratian, tbe Mortgagee may procure insurance on the , .
<br /> � impcovements, pay the premium therefor, and such sum shall become immediately due and payable with interest at the rate srl
<br /> � forth in said note unlil paid and shall be secured by this mortqage. Failure on the part of the Mortgagor Lo furnish such renewals �
<br /> as are herein required or failure to pay any Kums advanced hereunder shall, at the oplion of the Mortgagee, constitute a default �
<br /> under the terms of this mortgage. The delivery of such policies shal�, in the event of default, constitute an assiRnment af the un- . . �
<br /> earned Premium. � �
<br /> Any sums received by the Mortgagee by reasun of loss or damage insured against may be retained by the Mortgaqee �. � �
<br /> � and applied toward the payment oF the debt hezeby secured, or, at [he option of the Mortgagee, such aoma either wbolly or in �
<br /> � paH may be paid over to thr Mortgagor to be used to repair such buildings or to build ' new buildings in their place or for any
<br /> other purpose or object satisfactory to the Mortgagee without aRectin� the lien on the mortgage for the (ull amount secured here- . .
<br /> . � �� � by before such payment ever took place. �. �
<br /> � To promptly repair, restore or rebuild anY buildingk or improvemenLs now or hrreafter on the premiaes which may be• � . �
<br /> rnme damaged or deatroyed ; to keep said premises in good wndition and repair and free [rom any mechanic's lien or other lien or . �
<br /> claim o! lien not expressly subordinated to the lien hereof: not to suHer or permit any unlawful use of or any nuisance to exiat on :
<br /> aaid property nor to permit waste on said premises, nor to do any other act whereby the pruperty hereby conveyed shall Ixcome
<br /> less valuable, nor to diminish or impair its value by any act or omission to act : to comply with all requirements af law with respect � �
<br /> to the mortqaged premises and the use thereof.
<br /> , Thet shuuld the premisea or any part thereof be taken or damaged by reawn of any public improvement or condemnation
<br /> �� proceeding, or under the right of eminent domain, nr in any other manner, the Mortgagee shall be entitled to all compensations.
<br /> awards, and any other payment or relief therefor, and shall be entitled, at its option, to commence, appear in and prosecute in if.s
<br /> � own name any action ur proceeding, ar to make any compromise or setUement in connection with �uch takinR �r damage. All such .
<br /> compenaetion, awards, damages, right o[ action and proceeds ere hereby assigned to the Mortgaqee, who may, atter deducting ,
<br /> there[rom all its expenses, release any moneya no received by it or apply the same on any indebtedness secured hereby. The Mort-
<br /> gagor- agrees to execute such �furthrr aa+iRnments of any compensation, awards, damages, and rights of ection and: nroceeils es the '
<br /> � MortgeKee may require. �
<br /> That .in caxe o[ tailure to perform any of thr covenantv herein, the MortQagee may do on the Morlgagor's behal[ everything ,, , ,,
<br /> eo rnvenanted: that the Murtgagee may also do any act it may deem necessary to protect the lien thereo(: that the Mortgagor will '�"
<br /> repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes, and such moneys togetfier with �' �
<br /> � interest thereon at the rate provided in said note shall become so much additional indebtednesn hereby secured and may be in• �-
<br /> . cluded in eny decme (oreclosing this mortgaRe and be paid out ot the renla or proceeds o[ xele of said premiaes i[ not otherwise —
<br /> � �paid; that it ahall not be obligatory upon the � Mortgagee to inquire into the validity of any ►ien, encumbranees, or claim� in ad- . . _
<br /> vancing moneys as above authorized, but nothinq herein contained shall be construed es requiring the Mortgagee to advance any � .
<br /> moneye for any auch purpose nor to do any act hereunder: and that Mortgegee shall not incur nny persunal liability brcauw�� nf any-
<br /> thing it may do or umit to do hereunder. � � � � � � � � "
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<br /> � � � � In the event of the - default by Murtgagor in the payment of any inatallment, aa required by the Note. secured hereby. or �- �
<br /> in� the performance o[ the obligation in thia mortgage or in the note aecured thereby, the Morlgagee shall be entitled tn declare the
<br /> � debt secured hereby due and payable wilhout notice, and the Mortgagee ahall be entitled at iis option, without notice, either by iteelf .
<br /> � or by a receiver to be appointed by the court thereuf, and without regard lo the adequacy of any security for thr indebtednees se- .
<br /> cured hemby. to enter upon. and take posSession� of the murtqaged premises, and. to collect and receive the rents, isaurs and profits
<br /> thereot, and� apply. the. seme. ]ese .coata o[ operation and collection. �upon the indebtedness aecured by this mortgage; said rente,
<br /> iesues and� pro5ts being hereby asvigned to the MorlgeRee an further security for the payment o[ alt indebtedness secured hereby.
<br /> - . �� The -Mottga6� ahall have- the powee to appoini any agent or agenb it may deeire for the p�rpose �of �repairing said prem- �
<br /> � isee; - renting the eame; collecting the rents, revenues and income, and it may � pay out of said inrnme all � expenses incurred -in rent- �
<br /> � ing ar�d managing the same and of collecling tFie rentals lherelrom. The balance remaining, if any, shall be applied toward the .
<br /> diecharge ot the. mortgege inde6tednesa. Thia aseiRnment ie to Serminate and become null and void upon release oL this mortqeRe. � "�"
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