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<br /> T.HE_ MORTGAGOR; .F.UEtTHER OOYENANTS . AND AGREES: -:.r , .c _ , . :
<br /> � � � ,, s .. , , . . _ . . .� .,r'.� ".._ __ .,�� — . _---- -'------ .._. .--- - - .. __ . --' - ` ----=
<br /> : That the,-M,orlgagor w�ll pay the mdehtedness aa heminbefore prov�ded � � � � .�
<br /> � � � � � � � That the"�•Mortgagor is the ��ner o( eaid property in fee simpie and has gocul right and lawful authority to sell an��1 �
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<br /> � � convey the samr.an3l, tJ�at the eeriv� Ss [tee and cleat o[ sny Lien or encumbrance; and that Mortgagor will warrant and deferx� �the ' � �
<br /> � title to said " .'. .. . , � ` �. �. , . . . . . . . . .
<br /> . prem�nes' aqainst the c}eims o[ :all perabna' whomsoever. . . . . . . . . . . . .
<br /> �
<br /> . To pay,�imrttediately ivhea flue and peyable sli genetal� tasea, specia( �� taxes, specia! as.ge�ments, water charges, sewer serv- � � ' � �
<br /> } ice chargea, and -.other taxes and charg�x agninst said property , and all taxes levied on the debt secured hereby, and to turnish the ' � � ��
<br /> Mortgagee, upori: •cequoe[, with .the: uriginaL .of du�licate . receipts .tt�erefor. � The Mortgngor agreea that there sbal! be . added •to � � � �
<br /> � .I ' each monthly payment reyuired hereunder or under �t[�e evicience of debt secured hcreby an amount estimated by the Mortgagee � `
<br /> ._._ . _. . . . .
<br /> . � to be su6tcient �to�� enable .ihe Mortgagee to pay, as they become due, alt tnxes, twsessments, and simiiar � cf�arges u�n the � prem• � • � �
<br /> . iseasu6jeet theretot' "any deRciency � becauxe �>f the innufficiency � of sucfi additiunnl � paymenGc � shxlt be tuHBwith depo»ited by the �
<br /> . N�qr�ef9�4#,iwlth �,hBf.DY,L�FtKagee upwn� demand by the Mortgagec. .t�,q�,t fic�fault undrr this, p� ragrc�ph shall bv dcemrd a defaul! in � �
<br /> . . ._ .
<br /> � -. R$Ymertt nf.. ta:efi� fa�r;;exs�nPntS. �� S�m4lar .chatr,gea . repu�5ed hereun�S � , _ �, . . . . ..t .�t..�: � . .U.�: . . .^G.1 . .. C. 7�ts:�S�
<br /> , „�, � .._ _. . _ .r, _� . . � . i ..� r.1 . Yr SJt: � . . . _ �. . _ f) . < r . ; ij.. ?'; i zF
<br /> The MortKaKor agrees that there shvl) al�o be added to each monlhl � � � 'J ' � '.'S �` " • . . �` r :.. •rg �� `� ;- . �' ��'��:r � .
<br /> y puymEnt nf prmc�pal and3nteres�iequire� eie- " � � .
<br /> � undrr an nmount estimnted by the blortgagee tu be sufficient. !n enabie thF Mortqagee to pay, :�s it Mrcomrs d ��e, the insuranee � ' � �
<br /> premium on any insurance policy delivered to the Mortgagee. Any deficiency F�cause of the insuffcicncy of such addition�l pay- �
<br /> . mentv �sfiall be �forthwsth �deposited by the Mor2gagor with the Mortgagee u�wn demand by the Mortgagee. Any detault under this � � � -
<br /> . paragraph shall be dE-emed a default in the payment of insurance premiums. �7f the policy or policies deposited are such as ln�me- � � �
<br /> owners or all risk polSciex, and [he deposiLk arr insufficipnt. to pay the� enf.ire• premium , the hlortgagee may apply the depo:tk to � '
<br /> � pAy premiums on risks reyuired to Ire insurc-rl by this mortgage. � ;,-
<br /> � Pxymenfs made hy the MortF�Ror under the above patngraphs may. at th� optiun of th� Mortgagee, be held ' hy ii end � -
<br /> � commingled with oth�r 'sdcN �/udds4ir •ils-riwn� Fiinife�f'ur� tbe �ia`yment oEisuch . itYo�:'a�nd��iintil" si�.. p�i�l)ed;'$qyh. pa.Ymentsare hFreby . .. � `.�
<br /> - piedged as sec�riEy for. fh�e 'urij�eT�b'�lahce%�rf�ithe� tiiorfga�e �: indebtedhess, ' � ,- '!� � _ ., j - � �
<br /> � -~ lt, : "T A �. ' ,: � . : . . , . . . .. . . . . , . .. _.r ., �',.: .
<br /> To pr�cuce dg�vgi;,�q, an�,i}7amlpm ,jor the I�enE•fit nC .th�e MoitqSgAe da �ing the Itfe `o£ thfcmbrtg�Reii 'riqinal policies and � .
<br /> renewals thereo7,--d�'ehLued"a�t Ii�asY'f�ti da 's }iefore the hx � � � " �
<br /> � y piration• ofany � such ��licirv, � ursunn�� against !flre�:atad other insureble :...., ' �
<br /> � '. hazarda, casualties, and contingencies as the Mortgaqee may require, in nn amount equal�'td ' lhe�findefi�$dA�ss secured by thie .. � � � � � � ..'i
<br /> � Mortgage, and in companies acceptable to lhc Mortgagee. with loss payable clause in favor of and in form acceP�able to the Mortga• �
<br /> � . R�- In the � event any policy iti not renewirl on ur M�forr• ten day. of it. expiration, the MortRagee may procura insurance on the � � �
<br /> ; improvemenfs, pay the premium th�•refor, and such sum shall become immedintely dur and pnyable with interFst at the rate set �
<br /> forth in said note until paid and sha❑ �• sccurrd by this martgage. Failure on the part o[ the Mortgagor to furnish such renrwals � � �
<br /> - . as are herein required or [ailurc to pay any sums advanced herNunder PFIAII, AL the orytion of thr MortRager, constitulr a dPtault � � � �
<br /> _ under the termy of this mortgage. The delivery of such pnlicie�v shall, in thP event of r)rfault, cons[itute an axujKiimortt o( thr un-
<br /> � � earned premium. � �
<br /> � Any sums received by the Mortgagee by reaam of luss or dam:�ge insure[I aqninst may be retnined by the Murtgagee .
<br /> . � and applird toward the payment o! the dPbt hNrehy =e�currd, or, ai the nption uf the Murtgagee, such sums rither wholly or in ' �
<br /> � . pact tnay be paid over to the Mortgagor to be used k� repair such buildingx or lo baild ' new buildings in their place or for any � . . �j
<br /> other purpose or object satisfactory to the Murtgagee withoul nRecting the lien on the mortgage for the fiill amount socured here- '�
<br /> � � by before such paymer�t ever took plece. -
<br /> . ' To promptly repair, restore ur rebuild any buildings or improvements now or hrrcafter on the premises which may be• � � � �
<br /> _ � come damagr_d or deatruyed; tn keep said premises in good condition and repair and free from any mechanic's lien ur other lien or - .
<br /> ' claim of lien not espresvly subordinated to the lien hrreof; not to suftc r or permit any unlaw(ul �se of nr any nuisance to exist on � � �
<br /> aaid property nor to permit waste on said Premives, nor fo do any other act whereby the pruperty hereby conveyed sball Aeeome �� � �
<br /> leas valuable, nor to diminish or impair itx value by any act or omission to acl : to comply with alt requirements of law with respect � � �
<br /> � to the mortqaged premiaes and the use thereof.
<br /> � ' That should the premises or any part thrreot be taken or damaged by rensun o( any public imprnvement or condemnation . . �
<br /> , proceeding, or undrr the right ot eminent domain, or in any other manner. the Mortgagee shall be entitled to all compensatiana, � �
<br /> � � � awarda, and any other payment or relief therefot, and shall be entitled, at its option, to commence, � appear in and prosecute i 'n itv � � �
<br /> � own name any action or proceeding, or to make any compromise or settlamr, nt in connection with yuch taking ur damage. All euch � �
<br /> � compensation, awards, � damages,� right of action end proceedv are hereby eseigned to the Mortgagee. ��who may, attet deducting � � � . .
<br /> � -. therelrom all � ita� exper�aee, �release any moneya so received by it or apply the same on any indebtedness secured hereby.. The Morb '
<br /> � - gagoragrees�� to execute such further asaignmenis of any compenaation, awarde, damagea, and rights ot action and Proceeds as the � � . - � � � � �
<br /> ' Mortga�cee may require. . . . . � . � .
<br /> � That in ca9e of failure to perfurm any of the covenanta herein, the Mortgagee may do nn the Mortgagor's behal( everything :.. " �- �
<br /> . �, so rnvenanted; that the Murtgagee may also do any act it may deem necessary to proteet the lien thereof; that the MortgaRor will ;.., ..' � � ��
<br /> : repey upon demand � aay �moneys �paid or disbursed by the � Mortgagee for any of the above puryoses, and� such �moneyx� toqetFier with ��. .- � � � �
<br /> � ' intemst �thereon' �at �the rate provided � in said note ahall fiecome so much additional inclebteclnese hereby xecured and may Me in- � . �
<br /> . cluded in any decree foreclosing this mortgage and be paid out of the renLv or proceeds o6 aele � of said � premiaes if not otherwixe - - - �� �
<br /> � paid; that it ahell noi be obligatory upon the Mortgagee to inquire into the validity of any lien. encumbrances_ or daim in ad- ��:. :� � � � �
<br /> �. vancing moneys as above- authorized, but nothing herein contsined shall � be construed� es requiring the Mortgagee tu advance any � . " � . � �
<br /> moneye.,for ang�such. parpose nor to �do any act hereunder; and that Mortgagee shal4 not incur any perwnal liability . because oi any-, � ��
<br /> thing�itmay: do. bromit� Qodo �hereunder. � � _ � . . . . . � � � . �
<br /> ' � In the event of the default by. Mortgagor, in . the payment ot any installment, as requircvi by the Note secured hereby, or � - . �
<br /> . � �. � in the performance o[ the obligation in � thia mortgage or in the note secured thereby, the M��rfRaRre sha❑ br AntiHFd tn ffpCIA1'P the � �
<br /> . . debt secuc+Cd . hereby due and. payable without noLice.. and the lNortgagee shall be entitled at its nption, without notice, either by itself ' �
<br /> , s . � � oc by a. reCe�veruto_ be� appqinted by the court thereof, and witliovt regard to the adequacy of any security for the indebtedness ice- � �t � �
<br /> i . c�red hereby� to enter upon'and take� pos9e3sion' o7' the �mortgaged` premises, and to collect and � receive �the � rentc. +esuea and �profiLs � � �
<br /> �� thereot, anda app�ji ��.the satne; lese coet.s� o[ oryeratton and� �col3retion, upon� the indebtrdnese secured by th�a mortga e; � said � rcnts, � . � � r��, �
<br /> !�" ies'veA•'ar�d� `pro8ta'Yi�in6�7�erebyassigned�to the IV[ortgagee��as further� secvrity � tor the paytnent ot all indebt�dn�a`eipcn�`�fieeeb�"' ��Y �. E
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<br /> � , �. � �. The MoNgagee shall .have the power lo appo�ni any agent or agenis it may desire for the pur wre o( repairing aaid prem• � � � � >+
<br /> � � ieeu; renlin6 the ,seme mUecttng the renta, revenuea and ,incotao �, and it . may pay out of xaid incrome all expensea. incurred in rent- ' +'
<br /> � u�: re� . . ;' :
<br /> r �� `�SqB and �.' menaging .the same and of collectPFig �t7�e renfals Lheratrom. The � balance remaining, if any, shall be applie.i � toward the �. �°-���� +. :
<br /> �dixherge ot the mort�a�e .lndebtedness This ase�gnment �e fo te,rminate and become nall and void upon release ot this mortgage. . ; ' � ��>
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