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<br /> T.HE MOR�AGOIi sF't3R7rFI'EE2r'f:U�VENANTS. �Th1�D `�fZEESc'�' ; ` . v ` , r- � lf,.'
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<br /> . That,Rhe Mort,gagor ' t�t� indebtednzas es herei�before , prmided: . � � 4r, , . �
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<br /> � � ThaR �the Moztgagor �s the dWner of said property in tee aimple and hax good ri8ht and lawful authority to sell and � � � °;
<br /> convey the eet&e, ���tt�he-same �s fiee ,and clear of any lienio.t ,�nCu��?ance; and tJt9f'iNL�ortgagor will warrant arfdCdetffld 6hb FC15! � �
<br /> � ,..� .. . . . title to said �prnniixs" aqainsC the., claims 6f a$, peteom whomsoever ; ^: �.; I -%�
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<br /> � To p�ih�`��ly w'hen. due and payable �,sli general tazes, apecial �taxes, special as�essments, water cliar�e� s'�Wefi�'s�- � � . . - '�
<br /> � ice charges, and •athev�-taxes� �and chargea a�a�x;s� BajdF��op�{rtyg�,�d;�14.�tas�yleviecl on the rlebt secured hereby, and to furnish the . � � '
<br /> �. Mortgagee, u r e wit -th r'Pinal or duplicate .mceipts theretor. � Thcd3Mvit(;tigor agrees that there sha❑ be added tn � .
<br /> ��c���Sf . l� g �t,
<br /> each monthly. payment reqm� hereunc�er or under the evidencc of debt secured hereby , an amount eetimated by the Mortgagee � � �
<br /> , .; - � to be sufficient�` !o ' eaable the Mortgagee-. to yay, as they become due, al! taxes, asses4ments, and. similar charges upon theprem• �^ � . � � �
<br /> � i8is�"subject thereto; uny'deficiency twcause of the insutficiency oC such additionaT payments :shall be � forthwith depasited- Ay the " , � � _
<br /> :, . Mortgagor with th¢ Mortgagee upoR. .Slemund hy the Mortga�ev Any d<. fault und� r thia parogrnph �hnll be dra med a �iefault ro .
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<br /> ; a . errt" ¢f aa�e�'�a�sesefnents. �r s �lar ch�g�x , mqu�rNrl henunc�er.�. =' _ �
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<br /> � ° The Mortgagor agrees that there shall nlso be added tu eabh mont(11y' paq+ticiit of prinCipal ' �nd-`intereiif �i`eqtiirnd`3ier� 'r'� �
<br /> ' + under an amount estimated by the Mortgagee to be sufficient tn rnable the Mortgngee lo p�y , as it becom.•c due, the insurance - � �
<br /> premium on any. insurance policy delivered to the Mortgagee. Any deficiency becausr U( L}ll• tlL4UffCll'-l1C�' of such avditional pay• . � -
<br /> - " ments ��shall ' be [crthwith depa;ited by the Mortgagor with the Mortgagee u�n demand by the Mortqagec. Any default �under this , � � �
<br /> paragraph shall be deemed a de(ault in the paymPnt of � incurence pre�miums�. � Tf the Po�icy nr Pn��CIPS� � (ICnOSILP(I :1lC such as hame� � . � � �
<br /> ownern pr all risk pulicies, and the de�sita nrN in.uf5cient to pay the •*ntirr premium , the ibtnrtgageer may apply the depo!rit to � .
<br /> � pay premiums on risks required to be ingyTx(l bY tlliq ¢ll.or(�gC . _. . . ... _ _ . . . _ . . . . . . _ . . . . � .
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<br /> � Puym¢nLs made by lhe Murtgagor under thr above parngr�ph� may . af thn optiyn � pf 'Yhe .�.�'Ior,tj�agee:. .aP 11�IQ-��-bY it and � . � .
<br /> � commingted with other auch tunds nr its own funds (or the pnyment o[ such items, and until co applied, such paymrmta are hereby . �
<br /> �. pledgecl as security for the unpaid balance o[ the mortgage indebtednrss.
<br /> � To procure, deliver to, und muintain fur the b.•na�fit uf the htoztgagee during tl�F� life of this mortgage uriginal policies and �. � . �� �
<br /> renewals thereof, deliveresl at Ifast ten d�ys beFore the exP� rntiun of any such policies, insuring against Gre and other insureble . � � �
<br /> � haaards, casualties, and rnntingencies as the MortgaR� may require, in nn omount equal to the indebtednes� secured by this . . .
<br /> . Mortgage, and in companies acceptable to the Mortgaqee, with loss px�yable clau� in lavor uf and in fe,rm acceytnMe to the Mortga- �, �
<br /> g�. In the event any pulicy is not rtmeewixl an or before ten days of it_. exriiration, the Mnrt�;a�;ee mny procure insurance on thr. � � �
<br /> � imprwementa, pay the premium therefnr, and such sum shall become imma:diately due xnd payable with interest. at the rate set � .
<br /> for[h in said note un[il pnid and cha❑ be secured by this mort�;aga Cailure on the paiK of the Mortgagot to furnish such renewals � - � �
<br /> � as are herein required ur failure tn pay any sums advanced h�•rrunder shall, at the option of thr Mortgagre, constitute a default � . � �
<br /> �� under th¢ terms o[ this mortgage. The drlivery of such puliciF•s shall , in the rvrnt of drfault, constitute an asciKnmrnt of the un- �� .
<br /> : eerned pmmium. . . �
<br /> � Any sums received hy tha� MortgaK�P by reason �f lovs �}r damage insurcvf ngainst may be r�tained hy !he Murtqagee � � -
<br /> and applied loward the payment of the debt hrreby secured, or, at the optiun of the Mortgagee, such sum� either wholly or in �
<br /> � ' • � pnrt may be paid over tu the Mortgagor tu be used to repair such buitdinKw or to build ' new buildings in their place or for any �
<br /> other purpose or ohject satisfactury to the Mortgaqee without nliectinq thr• lien un the mortgage (or the fi�ll amount r,rcured here- �
<br /> by before such payment ever tcx�k place. - � � .
<br /> To promptly repair, restore or rebuild any buildingY nr improvemenGu now ur hrreafter on the premisea which may be- i� � , � .
<br /> � ��P come � damaged or destroyed; to keep said premises in gwd condition and repair and frer trom any mechanidv lien or other lien or � � � . .
<br /> Claim of lien not expresaly subordinated to the lien hereof: nnt to suRer or P�'rmit xny unlawful use o( or any nuisance to exist on . �
<br /> seid pmperty not to permit waste on said premises, nor to do any other uct whereby !ha property hereby conveyed shall become . � �
<br /> leas valuable, nor to diminish or impair iL9 value by nny act or omission to act : to comply with a❑ requirementx of law with respect . � � . �
<br /> . �� 1 to the mortgaged premises and the use thereof. � . �
<br /> That should the premises or any part thereof be taken or damaged by rea+on of any public improvement or condemnation � . � ;�
<br /> proceeding, or under the right of eminent domain, or in any other manner, the S�1ortgagee shall be entitled to all compensations. � . � . �
<br /> awards, and any other payment or relief therefor, and shall be entitled�, at its option. to mmmence, appear in and prosecute'�in it�� � . � �
<br /> uwn name any action or proceeding, or to make any compromise or settlement in connectinn wilh such taking or damage. All yuch � - -
<br /> . L � compensation, awerds. � damages, right of action and proceeds xre hereby assigned to the Morigagee, who may, a[ter deducting � , . .
<br /> therefrom �all its expensea, zelease any moneys so received by it or apply the same on� any indebtedness secured hereby.�The �Mort- � � . � � .
<br /> gagor agiees � to � execute� such fuzther ansignmenta of any rnmpensatiun, awards, damages, and rights of actiun and nroceedn as . the .. � � � � . .
<br /> Mort6eFee �maY� +e4uise. . . . . . . . . . . � . . :�._ . . . .
<br /> � ? That in case of tailure to perfurm a�y of the covenants herein, ttie Mortgagee may do on the Mortgagor's behatf everything � � �`� � � � �
<br /> so covenanbed; that the Murtgagee may also do any act it may deem necessery to protect the lien [hereof; that lhe Mortgaqor will � � . ��
<br /> � re a � upon - demand an � mone s aid or disbutsed b the Mort ag�e tor an o[ the above ur oses, and such moneys to et6er with � �
<br /> P Y Y Y P Y B Y P V g _ . . . . .
<br /> + interest � thereon - et the rete provided in said note shall become so much additionaL indebtedneas � hereby secured and may he in- .: .. . � .
<br /> c�uded in any decree foreclosing this mortgage and be paid out of the rents or proceeds of � �ale of Faid� premisee� if not othenviae �� , . . �� �
<br /> ' � paid; that it s6a11 not be obligatory upon the Mortgagee to inquire into the validity o[ any lien, encumbrances, or claim in ad- • . �
<br /> vancing� �maneys�- es� above� authorized, but �nothing hecein contained shall be construed as requiring 4he. Mo�tgagre to advance any � � . .
<br /> i, - '` moneya for- any-wch�purpose nor.,to� do any ect hereunder,. and that Mortgagee nhall not incur any, persynal Iiability t�ecau�se of aay- ' ' . � � . � �
<br /> 8 thing: iE, meg. do� or omit�� to do bereunder. . . . . � . . . - � � � . � - � � � �
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<br /> r - � � � � � In the evenl of the detaukt by Mortgagor in the payment of any installment. as required by the Note secored hereby. or ; - � . "
<br /> � in the � pedortnance of the obligation in this �mortgage or in the note secured thereby, t6e Mortgagee shalt be entitled to declam the � � -
<br /> �� . � debt-secured hereby dpe,�and payable without notice.,and ,the Mortgagee shalt be entitled at its option, without nolice, either by itsel[ � � � . . � -
<br /> � '+ � or by'%s moeider �to be appointed by the court the�eof,� and wilhout regard� to the adequacy o[ any security for the indebtedness se- .
<br /> - , . . .sr. . . . . . . . . . . .
<br /> . . � �ci�red. hexeby, `to 'enterupon and'take pos9edsiodof the � mortgaged� P�misea, and � to co11eM and receive the renta, issuea and profib ' �
<br /> thereot and apply !hc seme„lesn cuets o[ operation ��and cullection, upon the indebtedness secured by� th�s� {np�a�. ,.gaid; �e�,�t.'s; , �
<br /> � �( "� � iasUee`"enc� profita`}i�it�g� hereb'y asaigne+! to thr� MorCgagee�as �further necurity�for the�paymeni �of all indebtedness siruteN h`Ct�elry. " � � �
<br /> 3� � � ' � � � The Mortgagee ahall have. the power to appoint any agent or agents it ��may deaire tor the purpoee of repairing said prem- � . � �"
<br /> . t� � �' irEs; P�kentfng'the samc,' rnllecting:� the, renta. revenueq,.and. .income,, snd it may pay out ot said. income all expenses incurred in rent- � � � -w ` � . `� �`
<br /> in�,.and managing the� eame and�� of colleeting E'he rentals'� iherefrom:- �The balance remeining, iC �any, shall be applled�- toward the � � "� '
<br /> ` � . ' �. � ` . ;. ; " � is � to terminate and� become nult and void upon reledse of this mortgage. � � ` � �J
<br /> d�echeTge ot the mortgpge indebtedness Th�s 'sasignment ,� ; ,
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