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<br /> 7g_ U01493 _ _ - , , .
<br /> r T�fE__ MOATGAGOR .FLJRTHER, COVENANT3:. A1�ID. AGRE�S: _ �
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<br /> �: Thab?ths Iyp�gag�4r wilf- Pay_the-indebtedcfe�s as�beeembe!tore, Provided , ` ,; -
<br /> . ;;3L 4 J ,.,. S 1 y �# ..... 4 r.'S » �` . .. , . .: . .. . .. " . . � . ��� - �. . . . . . . . . -
<br /> rrv - . ', That the Moctgagor 1sa�he d�,r��V�i��e� r of said ;properiy in fee �simp[e and has good right and lawful aulhority to sell and �
<br /> s, convey lhe same antl ihat th4�t�i' 'e,�,.�s°y�e�anc! clear� oS any Len or encpmbrance; arxl tFat Mortgagor will warran! and defend the ^
<br /> title �to said `P�+� sjsarna�C'�ie' 21°ai�ann,�.qC�` 1s11 peYe`sona' whomaoever . ._ ., �, � ' �
<br /> . . .., r,�v� �S'1 � z" < q,,'�lC � �� � ." xw c . i , . , ... . . . ._ �� �
<br /> � � ��� To pay qdialyly�2v�h�ne�9`� a�ii payublee ell general tt�qce's, �epeciak �taxes.. special assessments, water charges, sewer sPrv- � �
<br /> � ice chargea, and qt�]ferqtsxes pnd cher�ea againat said pmperty and- all taxes IevieA �on. the debt secured .hereby, and to Nrpish ,R1�Q
<br /> �i .Mortgagee, upon request wtW� the onginet, oE duplicate receipty therefoa �� The Morfg9gor uR�'ee� tNat there shall � be added to �
<br /> ' ; . . each monthly. �payment req,mred hereunder or under the evidence �of debt secured hereby an amoupt estimatrd M1y the Mortga�ee � ' �
<br /> , . .;
<br /> � � to� be suH'icierit to eheblevthc MbstqBqee" .fo pay, as they become due, all taxes, asaesYments, and similar charges upon the, prem� , '; ,;� � '�
<br /> ; . � � i8e5'subjeCt"thereto;any 'deficiericy' because oE lhe �insufficiency of such ndditional � paymrnta shalf be forthwilh depaaited� by � thn - p . �
<br /> Mortgagqr ,with the �vl�rtgagee upon .demand by the MortF:agee. Any default und�r lhis parugraph shall be dcemed a default in � .
<br /> � payment� �Af fexes, asseesmente;� nr similar chargrs required hereunder. � - � � , � � � � � � " . �
<br /> ; The � MortRaRor agrees that there shap also ix added to each monthly payment o( principal and inte�est required heze-. � � . �
<br /> � . �.�i under an amount estimated by the MoHgagee W be sufficient to enable the MortgaKee to pay, as it becom�s due, the insuranrn � � '� . '
<br /> �.� i premium on any inxuraace policy delivered to the Mortgagee. Any deficiency because �C the insufficirmcy o( auch additional: pay- � . . �
<br /> menW��shall � be torthwitN deposited by the Mortgaqor with fhe Mortgagee upon demnnd by the Mortgagee. Any default under .this - .
<br /> paragraph shall be deemed a default in the payment �of �insurance Premiums. If Lhe pcilicp or policicx d��po:cited an• such as iiomr.- : .
<br /> . � ownen or all risk policies, and the deposiLw are inaumcient to pay the entirE- premium, the Mortgagee may applY the dep�vit to � - .
<br /> � pay premiums on risks required to be insured by this mortRaga �.
<br /> " Paymentv made by the MortqaKor under the abnve pnragraphs � may, at the option of the ' Mortgagee, be held ' by it anJ � � . .
<br /> commingled with other such funds or ity own tunds for the payment of such it�ms, an<I untit so epplied, such pnyments arP herelsy , � ��
<br /> pledged as security for the unryaid balance of thN m��rtRagP indebtedneax. � � - � - �� � - s � �
<br /> To procure, deliver to, and maintuin for the benefit of the Morigagce durinS the life of this mortgage original policies and . - �
<br /> � renewals thereo[, detivered al least ten days before thc expiration uf any such policies, insuring againat tire nnd uther insurable � � � � �
<br /> hazerda, casualtiee, and rnntingencies ae the Mortgagee may require, in an amount equal to the indebtednene secured by thie �; � � � � .
<br /> � Mortgage, and in companies eccepta6le to the Mortgagee•, with lory payable ciause in favoc of and in fe,rm acceptab(e to the Mortga- �
<br /> � gee. In the event any policy is not renewed un or be(ore tem days o( itu expiration, the Mortgagee may procure insuranre on the � .
<br /> improvementa, pay the premium therefor, and such sum shall become immediatcly due and payable with intrrest at the rate set
<br /> Forth in said nole unlil paid and shall be xcured by this mortKage. Failure on the part of the Mortgagor to furnish such renewals � � � �
<br /> � as are herein required ur failure to pay any suma A(IV8(Il'1'fI {1C[CUII(IPC shull, at the option of the Mortqagee. cunstitute a defaalt �
<br /> under the terms of this mortgage. The drlivery o( such policieh shall, in ,the rvent nf drfautt, constitute an assignment ot the un- ` �. �� � �
<br /> �'
<br /> � earned premium.
<br /> �� � i Any sums received by the Morlgngee by reason of loss or damage insured against may be retained by the MortBaqee �
<br /> �, � and app►ied toward the peyment of the debt hereby secured, oc, at the option of the Mortgagee, such suma either wholly ur in
<br /> � part may be paid over to the Mortgagor to be used to repair such buildings or to build ' new buildings in their place or for any
<br /> other purpose or object satiefactury to the Mortgagee without aftecting the lien nn the mortgaqe for the full amount secured here-
<br /> by be(ure such payment ever tWk place. _ � � � �
<br /> � � . To prumptly rnpair, restore ur rebuild any buildingx ar improvements now ur 6ereaker on the premises which may he- . � �
<br /> ,� � come damaged or deatroyed ; to keep said premises in good rnndition and repair and trer from any mechanic's lien or other lien or - � �
<br /> claim of lien not expressly subordinated to the lien hereo(: not to suHer or permit any unlawful use o( or any nuisance to exist on
<br /> �. aaid property nor to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shall become � � � �
<br /> � Ieas valuable. nor to diminish or impair its value by any act or omiasion to act.; to cnmply with all requirementx of law witb respect � . - . . �
<br /> to the mortgaged premises and the use thernoL . �. � �
<br /> TInsL sitou2d ttsc premise� or any pari thereoC be taken or damaged by renson of any public impmvement or wndemnation � � � �
<br /> proceeding, or under the right of eminent domain, ur in any dther manner, the Mortgagee shall be entitled to all rnmpensations, � � . .
<br /> � awards, and any other payment or relief therefor, and� shal(� be entitled, at its option, to commence.' ap�iear �in' andproeecute in�-��it� �� ��
<br /> � 5� � own name anY ection or Proceeding, or to make any compromise or settlement in connection with such taking or damage. All auch
<br /> - cwmpeneation. �ewarde, damages, �right of action and � proceede � are bereby � � assigned to � the Mortgagee, who may, afterideducting
<br /> � ",� therefrom all iffi expenses. releaae any moneys . so received by it � or. apply the same on any indebtedness� secured hereby. The Morb �
<br /> � . gagoc �agrem �.to� execute � such further �sasignmenta of � any compens�ation, awards, damages, and . rightv of action and. proceedn as the . : " �
<br /> Mortge8ee�,maY +e9uire: � � . . . . . . . . . . . . . . , . . . . . . .
<br /> �1. ..
<br /> %�� � That in case of failure to perform any of the covenanta herein, the Mortgagee may do on the Mortgagor's beha]( eJerythmg �� . . � �
<br /> so covenan?xd; that the Mortgagee ,may also do any act it may deem necessary to protect the lien thereof, that the Mortgaqor will -_ " �
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<br /> repay'upon � demand � any � moneys paid� or� disbursed by the MoNgagee [or any of the above purposes, and such moneys' togel6er w�th .
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<br /> � intere3t thereon'at � the rate provided in said note shaA become so much additional in�ebtednesa hereby secured and�� may �-�Ae m .-_ , �
<br /> � � � cluded in any decree [oreclosing this m�rtgaRe and be paid crut of lhe rents or proceeds ot aale of aaid premises �if aot otFierwise � ,^"�,.,>' " . . � .
<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 authorized, but nothing� herein contained shall be construed as requiring the MoctRegee to advance any •- ' � . � .
<br /> ' � moneys`for any��aich��. purpose nor to do any act hereunder; and that Mortgagee shall � not incur any .persunal. .liability �be.caune� of any � ,p�., �.
<br /> ` ; . . . Lhing �:itmay< do. or ;omit� to do;hereunder. . . � . . . . . . . � � . � ;..,�--' . .
<br /> � � � In � the event o[ the defaut4 by � Mortgagor in the payment o[ any installment, as required by the � Note secured hereby. or ~ � ��
<br /> �" � - � in the pedormance o( the obligation in Lhis mortgage or in the note aecured Ehereby, the Mortgagee nhall be entitlMl to declarn tfie � � �
<br /> y. � . debt �eecured :heceby due. and payaLle without nolice. and lhe hfortgagee shall be entitled at its option, withuut notice, either by itself
<br /> . or ,bj+�. a cecelver t6`be a{p{�irint0d ;by the court Yhereof, �and�� withaut mgard to ' the adequacy o( any security for the indebtedneas. se- �
<br /> " � cii{ed, heTeby�� fo enter'. upon'and���take pAb9essibn' o'f' the m�ortgaged �premiaea, and to collect and ' receive the � renia; �� issuea and pro8ts ` .
<br /> " } Lh°eieof� �n� ` apply We�iafiie teae coats� o[ �operation� and colt2etion, upon the �indebtednesa secured � by - this mortqage; said � renU/ �
<br /> � �`. � . iesves�'dnd"pio5b"bein�htreb`y`• aieigned`�to-�-lhe•Mortgage'e'as iuitfier� aecurity� for the paymenf of�all �indebted�nese secared hereby: � � • � � � .
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<br /> . T}�� �Mortgagee shall have the power to appoint any agent or agents it �may desire for the purpoee of � repairing said prem• � �
<br /> axs; irenting� the aame:;; CqUectiny_ the rent4 revenues and income, and it may pay out of said income all .expenses, incurred .. in renb �-
<br /> j� t�� , irta eMl manoging tiie' �eame and� of 'collecting !he"��rentals� therefrortmr �The' balance remaining. if � any. aFall be �applied toward the , �
<br /> }"!�" " �� ,�ixh�rg� ot-. the mortYgage �ndabtcdneas� Th�a eesignment ie b terminate and become � null and void upon release o[ this mortgage. . �
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