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<br /> �g.� U02282 �
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<br /> i " T.HE . MORTGAGOR _EURTHER COVENAN7'8 ANID- AGREES:
<br /> ' , TE1AL L�1P n s - . .. . , � . ' . .. � . ..
<br /> ;- . . . M ti �4� �w�!! pey �Lha iadclsiexSness .ar t�arainbe:ore ptr,�.�ided. ' •.:. . . . .. . .. �
<br /> �� . That tl�e � Mort�agor.� �,,s, fhe tlwncr of sa�d property in fee aimple ��� and has gooc! riqht and lawful authority to sell and � � �- �
<br /> � . rnnvey the same and t,hat the-ae.ile is'f� and clear of any lien o{ �eqcumbrance; and that Mortgagor will warrant and �- detend the '�
<br /> � ., title to said ;Premises�' agaitni' the'�cta�ms o[� al��� peraons:. whom6oeJer.' .. . . . .
<br /> , � .:: � .. . , � . . . . . �.
<br /> To paq, irruRedaatelyFF�whelxfdyr and payable� all �eneral� tax¢s, speciat �texes, special assessments, water charges, �sewer, aRrv-� �
<br /> : ice charges, and other �taxen and� charges against said property, and all taxes levivd on- the debC secured hereby, and to furnish the ��
<br /> . � Mortgagec, upoa Tequesf; with �the�� original or� -Juplicate teceipts therefor. .The Morlgago� agrees � that there shali be added to �
<br /> � � � eech monthly ,payment required hereundrr or nnder �the �evidence of debt secured hereby an amount estimeted hy the Mortgagee ` . ' .� ,
<br /> ' to be au6icient to. enakXe � the lyort'gapee ' to pay, as they become due, a(1� taxes; assessments, and similar chargea upon the . prem• sx � .
<br /> isea su6jeet' thereto;`any ileficiency l�ecause o[ the insu�ciency of 4uch addilionat paymcntk .hnl! he forthwith dep�sited by the � ' � ��
<br /> � , .�.�Mort�agur„w�th t�ie Mprtgagee upoqy.drmand by t}�E. Mortgagee. Any dPfault und�ar this paragraph sha❑ be deemed a defeult in ;
<br /> � �iay�n�tY'1Af t��Ceg ��en.qtnents � nr s�m'ilar c}�nrgey requircvl hereund�� n ` ;j ' . . � . � �
<br /> :St` ..... .. I.�17t. '7 ;ax . .. . : . . , r. � . .r _. .r. , e . ` � . . .. � .g -., � � ,. { . .
<br /> . , :1 .: _. . . _ . ... . �. : . .. , .. .f. . . .��. J .. :, . . . . . . � T 1 qr aa.r : .
<br /> . Thi Morlp,agor a�;rees that there shall also Ix added t., rach mririthly paytti"vfiL of rrindEpel - 9nd �nleiest� reyi�i'r�d�' hec�- -:'.� , � . . �
<br /> . nnder an amount estimated by the Mortgagee to be sufficient to enable thr Murt�agee to pay, as it becomes due, the insurance �
<br /> , pr¢mium �.n any insurance policy delivered to the Mortgagee. Any deficiency l�ecause uf tfie insufficirncy of such additional . pay- �� � .
<br /> � menta `xhall ��be forthwith� deposited by � the Mortgagor with the Mortgagee u{wn demund� by the Martgagee.� Any default under this -
<br /> � paragraph shall Le deemed a de(ault in the payme•nt ot� 'rnsu �ance premiums. 7f the policy nr policies derposited are such as M.ime- � �
<br /> � � owners or all risk policie., and the deposits are insufficient to pny the ,�ntire premium, the MorfgTgee may apply the depo.ait to � �
<br /> pey premivms on risks required to be insured by this :;inrtqage_ � � � �
<br /> . Paymeniv made by��the Mortgagor� under the abnvr. paragraphs- may at��the� upt�un oC- [hF titortgagee,�, tW held � by it and �
<br /> cummingled with other such funde or ils own funds fur the payment nf such �t�ms, and antil so applied, such paymenta are herchy � � �
<br /> , pledged as xecurity for the unpaid balnnce ot the mortgage indebtedness. ' � �
<br /> � . To procure, deliver to, and maintain fur the benefi [ nC thP :bi��rtgaKee during thr life of this mortKage original p�ilicies and � �
<br /> . renewals lhereoC. delivered at least ten days before tha expirxtion uf any such policie.v-, insuring against fire and other insurable � �
<br /> � hazarda, caeualties, and contingencien as the Mortgagee maY require, in an amoant equal to tFe indebtedneas secured by this �
<br /> . � Mortgage, and in companies acceptable tn the Mortgagee, with loes payable cluusw in favor oC and in form acceplable to the Mortga- �
<br /> � qee. In the even! any policy is not renewrd on <�r k�:forv ten days uC its expiratiun, the Murtgagee may procure insurancr on the �
<br /> improvements, pay the premium therefor, nnd such sum shall hecome immediately due and payable with interest at the rate set � �
<br /> . � forth in said notc until paid and shall hr .ecurrd by this mnrtgaqe. Failurce on the part of the Mnrtgagor to furnish such renewals - �
<br /> � as are herein required or failure to pny any sums advimced hereunder �hall , at th� option ot the Mortgagee, constitute a default � � � ` �'�
<br /> . under the terms of this mortgage. The drlivrry of such pulici�•v shall , in the event nf detault. constitute an assiRnmrnt of the un•
<br /> �� . earncd premium. - �� �
<br /> � Any suma receivr.d by the Mortgagce hy reason of luss ur damage insured against may be retoinerl by the Mortgagee � �
<br /> and applied toward the payment ut the debt hereby secured, or. at the option of the Mortgagee, such suma rither whofly ur in �
<br /> � ; part may be paid over to the Mor[gagor to be used to repair such buildings or to build ' new buildings in their place or for any . �
<br /> . � other purpose or object satisFactory lo the Mortgagee without aRectinK the lien on the mortgage for the (ull amount secured here- � �
<br /> by brfore auch payment ever t��k place. - �
<br /> Tu promptiy repair, resture or rebuild any buildin�x or improvements now ur hrreufterr on the premixs which may he- "^
<br /> - wme damaged or destroyed ; to keep �aid premises in good condition and repair and free from any mechanicq lien or other lien or �
<br /> claim of lien not ezpressty subordinated to thr lirn herrcef; nut to sulier or prrmit any unlawful use ot or any nuisance to exist on � �
<br /> � said property nor to permit waste on said premices, nor to do any <,ther act whereby the property hereby conveyr.d shall become � �
<br /> � lees veluable, nor to diminissh or impair ita value by any act or omission to act to comply wilh a❑ reyuirements u( law with respect . � �
<br /> ' to the morlgaged premiaes and the use thereoG � � �
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<br /> � That should the premises or any part thereof be taken or damaged hy reasan o( any public improvemeM or condemnation �
<br /> - � proceeding, or under the right o[ eminent domain, or in any other manner, the Mortgagee shall be entitled to all compensationva, � � �
<br /> awards, and any othei payment or relieC there[or, and shall be entitlerl, at its option, to cnmmrnce: appear in end - proeecate���in its
<br /> � own name any action or proceeding, ar fo make any compromise or setUemrnt in rnnnpctioa •.��:,h aud� taking ur damage. All such � � � "
<br /> ! crn=pensa2ian,� -awaed», damagea, righr of action and � proceeda are � hereby assigned to the Mortgagee, who may, after BeduMing �
<br /> there[rom �all iffi �xpenees, � release any moneys so received by it or apply the seme on any �indr.btednesx secured hereby. The MorE•.: ��
<br /> ' gagor � asmes � to execute� suoh further assignmenta� of any � compenxation, awarda, damages, and rightv of actiun and procaeds as � the- �
<br /> ' MortBaRee � maY �Quire_ . . . . � � . .
<br /> �, Thal in case of failure lo prrform any of the covenants herein. thr Mortgagee may do on the Mortgagor's behalf everything � � � � � �
<br /> eo covenantecl: that the. Mortgagee . may also do any act it may deem necessary to prolect the lien thereof; that the Mortgaqor will + ' �. � � . �
<br /> • - repay upon � demand any moneys paid or disbursed by the Mortgagee tor any of the above purpoe.es, and such moneys toget6n� with � �� - � .
<br /> - � intezeat thereon �at fhe rste provided in seid note �shatl become so much additional indebtcKiness hereby secureci and mny be im � � �
<br /> �� ' cluded in any decree foreclosing this murtgage and be paid out of the rente or proceeds of sale of said j�remiaes if nat othenviae � � � .
<br /> � paid; that it ahall not be obligatory upon the Mortgagee to inquire into the validity of any lien. encumbrancea. or claim in ad- " �
<br /> vandng� moneys : es� above. authorized, but . iwthinq . herein contained shall be construed as� requiring the Mortgagee� �to: advance any � . � . .
<br /> ' moaeya �for, any:enchpurpose nor to� do any act hereunder; and that Mortgagee shall not incur any peraunal liability becau_ve ot any- � - � . � � � .
<br /> . thing,iQmay� do oc .omit . to do }aereunder. . . � � � . � � . �
<br /> � . � � In the event of the detault. by Mortgagor. in the � payment o[ any inatallment, as required � by the Note secured hereby, or � � � �
<br /> in the performance o( the obligation in this mortgege or in the note se�cured thereby, the Mortgagee shall be entitled to �declere the � � � �
<br /> �� debk secured � hereby due and payable without notice,_and ,the Mortgagee shall be entitled at its option, without notice, either by itself � � �
<br /> ' or.F7� a receiver to 'be appointed by the' court thereof, 'and withou [ regard to the adequacy o! any secarity �for the indebtednesn iae- � .
<br /> - : � cu�eil hereby�, to �lnter vpon� and take � posbe�sion� oT the � mortgaged premiaea. and - to collect � and receive thr rents; �issue� and profits � � � � �
<br /> thereof, and� apply tt�e eame, lene cwb of operation and rnllection, upon the indebtrdnesa aecurnd by �thia mortga�e„ sai¢� renfs. � � .
<br /> � iasuea"and � rl�1a 7iein" hare " . . . . , , . .. . . � • ` . � .
<br /> p g by saeigned to the Morfgagee av turther aecanty dor the payment of all indebtedner>a 5e`cUYed"Ker�by'. �" . � � .
<br /> � � The Mortgagee shall have the power to appoint any agent or agents it may desire for lhe purpose of repairing said prem- � . _ _ ""
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<br /> ; ieea: renting lhe name; collecting the . rents, revenues and income, and it .may pay out of said income all expensen incurred in renb � ,� .
<br /> t ing� and manag�ng the seme and of collecting the rentals therefrom: The balance rnmaining. it any, shall be applied toward the � � +� ' � �, '
<br /> , � � dieehetge o(� the mortgage iadgbtedneers, Thia aeaigrunent ie to tertninate..and become null and void upon release ot this mortgage. , r �� +� � �
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