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<br /> Zs-• t101744 _ _
<br /> THE �71SF78tRYi"A'GOES+:,FSFRI'HEBrI:COVENAI1T81NALdIY�+7►6REE$.I !� -�,�„�r:=� ; �.��a ;t�: r�..�;s-.
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<br /> . r . � � � � That the ,MQFtgagor .vill a�y � e indebtednene ss�,- hereinbetore provi�ded. . � . . ;- - . ' �:... � .
<br /> � � ,�� a �3rC�iS?S �� , . . � ,jr� � C � C^•�5
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<br /> � � � � � That the"''.�Iortgagor�,'is thg ti�J�er of said property in [ee �aimple 'nnd fias good right and lawful authority to sell and � � � - ' � �
<br /> � � convey the aer�+�[�� thexeme �s`,free anJ clear of any, liea�nc .�4�ia�Fubranee; a�d .l�,�.lKvrtgagor will wArrant and�.cle��,t}�� ;r� fU� � � � �
<br /> title to caid ;'Preme�4 � aqaie�st.;,t�e Cia�mb':of a1J -.:pera�ns.'whomeoever. . � . .
<br /> .. ` f1t ,i� :. , ,. . . , . . y .;. � . • . .: . . . .
<br /> � . To pa�tad�le!tlt�ly �wlien •due and' payab(e all ge�neral "tnxes, xpecial � taxea, spcciat uxyrx+inenLs, watrr cli&yTges;�qAewei� .Lefv✓ `' = � � .. � .. �
<br /> .� � ice charges, and other tnxea xnd chargex against �id ptoperty, and all taxes levied on thc. de6t secured hereby, and to turnish the � � � '. . �
<br /> . . Aiortqagee. upon {�e,yi���,\(vith ��ki:K'rlginal ..'ni^ <I�p�cste "rEceipts 't�erc�fo*. 'I'he Mo�l�a�or agr�es that jp.�d, :sh� ber�gA��tot3Y':.n.. ' ;; � .
<br /> ; each ;nonthly, µayment required hereunder or _under the evidence oC debt secured h? reby an amnunt estimated by the �btortqaqee , t:� � � � � �
<br /> i to. 6e sufficieriY to' enable Lhc ��hlortRegee�- to pay, as they become due, all taxea, aer.�s.sments, �nd similar charges u�n tP�e prem• - ��;: '� . . � �
<br /> � iaes �subject tfiereEo;� any deficiency t�ecause of the � insv�cie. ncy� of such additional payments� shall he (orthwith depnaited Ay the � -"� ' � � � . � . �
<br /> Mortgagor w�th thP ;.Wrortgagee upon demand by Ux V1ort},agt e- Any de(ault under thn l��ragrwnh shnll hr dce�mrd a delault m . � �
<br /> pey'tni/`n6�f laxer! �i�rr�ents, or vm�lar charges rrquired h� rPunder � - � � '
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<br /> �f 1'�_hu �Kurt�g�r sgrers tFwC�¢here shnitalsa �be',adde�l, t<? .each�mqntl"Jy P�Yme:�t uf principal anrl interest required here- . � � � �
<br /> ` un�l'er a�i�ami..�nt estimntec`I by �the Mortgagee to ba sufi'icient to enablr� thc Mort�,agce to nay, a� it becom�s du��, the insuray�ce �, . � � �
<br /> � . prernium an any, insurance pulicy delivered to L}�c Mortgagee. Any deficiency txcause nf the insu�ciency ut such additional pay- - � . � �
<br /> ments �� 'shnl! be forthwith� depaaited by the Mortg�gor with the Mortgagee upon demand hy thr Mortgagee. Any �efault dnde� this � � �
<br /> . parsgraph shall br. deeroed a dafaull in the p�yrnent of iusurance nremiums. 7f the policy nr policies deposited a:e such ae frome- - � �. � � .
<br /> owners� or all risk p.ilicirs, and the deP�sits are invufFcient tn pay the �rntirr premium, the Mortgagee m�y apI>�Y the depo.aii ta � � �
<br /> pay premiums on riskx reqnir�d tq trF ;inwrett. by �tNis mo;t�{age. _. �. : ' � � ' - ` � ' - � �� � � ' ' '-" . :.; �. � .
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<br /> . � Yayment4 made by the MurtgaK�r under the abore paragraphs may. at the uption �of the M'oit�agee; �I�e' �eYd� Ky- it and � . � �
<br /> �� comminqletl with other sucF. tunds or its own funds for Lhe paymenl of such iterns, at�d until so applied, such payments are hereby . � � � . .
<br /> � . ple.rlge3 as security for the unpaid balence o( thv rnurt�a�;N indebtednevs. . � � .
<br /> . To procure, [leliver to, and maintziin (or the �nefit of the Mortgagee during the life of thix mortgage originel PoliCies and � �� �
<br /> renewals thereof, delivered at least len days t�eiore the expirafiun of any such policies, insuring againat fire and olher insurnhle �� .
<br /> � ha:ards, cw3ualtiea, and contingencic� as the Mortgagae may rerauire, in nn amount eq�al to the indebtednena secured by this - � � ��
<br /> ' l�fortgage, and in companies acceptable io the Mortga�;ee. with los:: payable clause in favo .- uf and in form acceptablP to the Mortga- , : �
<br /> . � gee. In the event any policy is not renewcv! on or before tcn d�y�: of �Lc expiration, the Morigagee may procure in.urance on the a -
<br /> � improvements, pay the premium there(or, and such .ism xhelt become immedi�teh� due nnd payabl� with interest at the raic set � ".
<br /> fortti in said note until paid and shall bt• +.�currd by khis mnrtgagc•. Failure on the part nt the blorfgagor to (urnish such renewals �
<br /> � a6 are herein required or failure to pay any sum+ advancrd hercunder shall, at the optinn o: the Mortgagee, cunstifute ti�dafault � .
<br /> �� under the tertr�s of this mortqnF;e. 'Phr deli�•ery of such policies shall, in the Yvent of drfault, <•onstitutr an nssiKnmrnt o[ ihe un•
<br /> � enrned premium. � . �
<br /> � Any aums remived by thr Murtgagec by reaxon of iosw ur damagc insured against may he retnined by the Murtgaqee . � � �
<br /> � and applied toward the payment of the debl herelLy secured , or, at the option of the Mortgagee, such sums either wholly on in - � � �
<br /> part may be paid over to the Mortgagor to Mr used to repair such buildings or to build ' new buildin�s in their place or for any � � �. � � .
<br /> , othez purpose or object satisfactory to Ihe Murtgagee wjthouf afiecting the lien on thr mortgage for the full amount secured here� ' � � . ,
<br /> �� by Aefore such payment ever took placa . �
<br /> , To promptly repair, restore ur rrbuild any buildings or improvemFnLs now ur hrrPafter on the premises which may he- . . . -
<br /> rnme damaged or destroyed ; to keep said premises in guod condition and repair and free from any mechanic� lien or otber lien or . � � � . �
<br /> � . claim of tien not expressly subordinated to the lien hereof: not to sufter or permit any unlaw(ul use uf or any nuisance to exict on . � . �
<br /> said property nor to permit waste on said premises, nor to do any other act whereby the Praperty hereby conveyed shall become � . � �
<br /> � less valueble. nor to diminish or impair its value by any act or omission tu act : to cnmply with all rcquirements of 1aw with respect � - � . � �
<br /> to [he mortgaged premiaes and the use thereof. � � _
<br /> � That should the premises or any part thereof M� taken nr damaged by reason ��( flny public imprnvement or condemnation � � �
<br /> � proceeding, or under the right of eminent domain, or in any other manner, the Mortgagee shall be entitled to all compensations, . : � � ��
<br /> � � ; awards, and any other payment or relie[ there[or, and shall be entitled, at its option, to commence, appear in and � proaecute in it� � � � � � �
<br /> . ' � own name any action or proceeding, or to make any compromise or setdement in connection with such taking or damage. All such � . . . � �
<br /> - , � . compeneetionr 'awarda; damages, right ot action and proceeda are hereby assigned to the Mortgagee. who may. after deducting �
<br /> � i � there[rom all �its� expenaen. � releaae any moeeys so received by it or apply the same nn any indebtedness secured hereby. The Mort• . � � . .
<br /> . . . gaBoc ��agrees .to- execule. sucfi further assignmenta of any compenxation, awards, damages, and riqhts of action aad proCeeds as the � . � . � �
<br /> . �MortB+See- maY� +�e4uire.• . . . . . . _ � . .
<br /> ' That in case o[ (ailure to perform any of thr covenanLv herein, the Mortgagee may do on thc Morlgagnr'c hehalf everything • � � .
<br /> . � � ao covenanted; that the Mortgagee may also do any act it may deem necessary to pmt�ct the lien therrof, that the Mortgaqor will . . . -
<br /> � repey upon �demand 'any �moneys �paid or dixburaed by thc MortgaRPe for any of the aAove purposr. s, and such moneys mgetfie� with � . ._ � � �
<br /> '� � intereet �thernon �af She eake provided in said note ehatl become so much additional indebtednens hereby securerl nnd may fie in- • - . � � �
<br /> � ' cluded in any decree toreclosing this mortgage and be paid out o [ the rer�tr or procrede of sale of said premiaes if not othenvise ,�.' � � -
<br /> ' paid; that it shall not be obligatory upon the Mortgagee lo inquire into the validity o[ any lien, encumbrances. or claim in ad- " , � .
<br /> . j �� � . vancing��moneys' as�� above - suthos'ized, but nothing herein � rnntained shall be construed as requiring� the Mortgagee tu advance any � . .
<br /> moneys�.foc any�;sucla. purpoae nor to do� any act hereunder; and that Mortgagee nhall no! incur any pernonal liability F�ecause of any- � . .
<br /> thing� iE. may� do or �omitto do hereunder. � . � ' .. -
<br /> � - In the event of the default by Murtgagur in the payment of . any installment. as rcq�ired by thr Nule secured h�reby, or
<br /> ' in the per[ortnance of the obligation �in this mortgage� or in �the note - secured thereby, tbe Morttugee shall be entitled to declarn the � . � � � . - �
<br /> % �� � debt aeeuced hereby � d�e, and payable without notice., and the. Mortgagee ahall be entitled at its option, without notice, either by ifaelf . . � { � � � ' �
<br /> � � or by a receiJer �to 'be�appuinted ,by the court tfiereof, and � without regard" to the��adeqvacy o[ any security for tbe indebtednea+ ne• � �
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<br /> >� ctlrEd '1'fere . , to enler. upon,.and 'fske "
<br /> by' posbessio=i �oC 'the mortgaged�`premisee, and � to collecb �and receive the rents. �issues� �and -proRfs . '`��"
<br /> the!'eo� and` a}Sply t}i,e�� aame, ,lesa cobtS of oryeration � and �,collection, upon � the indebtednesa xecured I�y this mortgage; � seid �� rents, � �,. ;
<br /> � � ies'uiee�wn� pMfifabe.4nd? heeebj+'-a9ei�ned`totheMortgager�ae �further �securitytorthe � paymentofallindebtednPes"9rEr'vtM �}leirb�. � ?
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<br /> r L _ �: . . The �Mortgagee ahall hsve [he power to appo�nt any agent or agents it may desire for the purpoae of repairinq said prem• L
<br /> . .+, � : � iees; reating :the same; rnllecting the rents. re;enuea snd incomC. a++d it may pay out ot r.aid income all expenses incurred . in renb �!�� ",�
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<br /> ti � � � ing' and �managing �ihe eemA . and o[ coll'ecting Ehe ren(ale`therefrom: � The' balance Temeining. if any, shall be applied toward the "' ; , :`.,
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<br /> �, � � � diechargd'ot tharmortgage indebtedneae. Thia assignmen! ie to terminate and becomP null and void upon release af thix mortgaRe. ;.. ;°,�, -�,.
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