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<br /> 78-� , .
<br /> .a.42333 - ,- =` '� .
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<br /> T.HE . MORTGAGOR'-FUATHER 'COVENAlaI'T9 '_AND AGREE3: , , .. _ . ,
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<br /> . � � That the �.Iy{erX$agor w�l� pay the �nde6t�dttess ae hezei7fhefe;e,:.provit�ed.�. � . . . . . . N.
<br /> y � . t ,._ Lii ; 4 � , r :° , . .: '�.. , , f , � , '-: : � ..'•, . '; ; , , , , .�� . . ,_ . � . , . -,, I � t ` .rs i
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<br /> - � � That the h�ortgagoras f,1�,e�F6+�+,�er .of said Property in fee simple and has good right and law[ul. euthority to sell an�l � �` �� ' ��' , �
<br /> ` � "� � convey ��the samewand t�+a�,th�ep�e�i�° t"rqe and cleaT of any hen or eocumbtance: and that. Mortgagor will warrant -and defe.n�i the . , �' ,�
<br /> title to� sa�d 3prem�de3 aga�ns ��e�`a�n��fflfYal� �Yethons� whomeoever -; ' . . '. . .. . . �.. . . 1 '� j �.«
<br /> � �. i :i . � � fi"�"Y: 3�ti� V-.;x n a �.�� � �. < , .; � � . � , , � � � .
<br /> ,t; ., � . To pa�y,�-tmtaediat� �Y���� �d payable 811 ,gene;al` ta�ces' apeCial taxes„�pecial . asses�ments, water chargea, �sewet scrv• '
<br /> , � . ice charges And�'dther�tw�ies �rid charges againaC gsid �:pTcipertyc an(1 slP�taxca levied on thc �debt secured , h@reby, and !o furnish the � . !,. � � � ^�
<br /> ' ' ' :�Mo . __, � the oreginat,_: or ,duplieate receipts therefur. ;The Mortgagor agreea that- there sha11 '�t�e `added `�-to � `- � � ' ' `� "'��
<br /> . � rtgagee, upou requeat�. wlth �
<br /> � � � � each � monthly paymeni requiredehereunder or under �ihe evidence of debt secured . hereb'y un amount estimated by � the Mortgagee � � � '
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<br /> y , - � to be su6'ic�ent �€ eneSb!@'; the M,GrEgageO��. to � pay, as they become due. all taxes, asaessments, end similar:� chargea .upon ,the ,p[errl . ; � � ' , � "
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<br /> r �� � . � i9'ea"ailtijict'"tL�'reto;" k'ny "deficiency'�becsiu3e�bf 'tfie�"insufficiency � of such -� additTonal payments shall 6e fortfiwith -deposited ' �by ��the ""' "`:�^ ` � � . . ^
<br /> ' Mortgag.or �with. the Mnrtgagee upon demand 6y the Mortgagee. . Any default under this paraFrnph shali br deemed a detault in � � � � ` - ' ' �� ,i':
<br /> %�:,, . :..� . . .. . . _ . . . . . . , . . . . ; . . ., � .
<br /> � � payment of� taxea '`eseessments;" nP �- similar charges required hereunden � � � ' - � � � � � � ' � ' " � . . � - � ` ` "�
<br /> . The Mortgagor � agreea�- that there shull alao� be added to each Tnonthly payment .o( principal and� intereat cequired hese- � :� � " � � � �' �, .�;
<br /> . under an amount estimated by the Mortgagee to be sufficient to enable the Mortgagee tu pay, as it becomes due, 46e insurance . �
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<br /> ' on any insurapce pulicy delivered to the MortgaKee. Any deficiency because nf thr. insutficicncy ut such additional pay- � - � '� � �:'
<br /> premium
<br /> : menfs"sfiall ' be ��fortKwith��depoeited ' by the Mortqagor with the Mortgager u�wn demand by the MortRagee. Any �default vnder this .
<br /> paragraph ahall be deemed a de(ault in the payment �o[ insurance prnmiums. If 'the policy or policies deposited are such as Fwmp- � � � � ' '��
<br /> owners or all risk policies, and the deposits are insufficient to pay the entire premium, the MortgaRee may apply the deposit to . � ���
<br /> pay premiums on risks required to be insured by this mortgaRe. � �
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<br /> � Payments made by the Mortqagor under thr. above paraKraphs may, ai the nption of the Mortgagee, be held ' by it and ' ���
<br /> i �� �� commingled with other such funds or its own funds fur the payment o( SUCFI items, and until so applied, such payments are herehy ` "
<br /> pledged as aecurity for the unpaid balance of the mort�aKe indebtedness. � � F, x r�
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<br /> � . To procure, deliver to, and maintain !or the benefit of the Morlgagee during the liCe of this moHgage uriginal policies and . j
<br /> . renewala Lhereof, delivered at least ten dayx before the expiration of any such �licies, insuring against fire and other insurable � � �
<br /> = � hazr.cun, aasuelties, and contingencies es the Mortgagee may require, in an amovnt equal to the indebtedness secured by thin ��
<br /> � �� Mort e, and in com anies acce table to the Mort n ee, with losa a able clause in favor of and in form acce table to the Mort a- �'
<br /> 88B P P C F P Y p B j.. ` y,
<br /> . R�- In the event any policy is not renewed on or before ten days ot it� exP�ration, thc MortKagee may procure incurance on the t. - ?���
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<br /> ! � � impzwementa, pay the premium lherefor, and such sum shalt becume immediately due and psyable with interest at the rata se! � "' � "
<br /> k zr ry
<br /> , � � � forCh. in said note until paid and ahall � secured by this mortgage. Feilure on the part o[ the Mortgagor to (urnish such renrwals i '.;
<br /> . ae are 'herein required or failure lo pay any sumx advanced hereunder shall, at the option of the Mortgagee, constitute a default � , ���
<br /> � under � the terms of this mortgage. The delivery of such po�icies shall , in the rvent of default, constitute an assignment of the um � � ` ~ ' ° <i
<br /> . � , � s . ,���
<br /> � eamed premium. . .
<br /> a
<br /> � � Any sums received by lhe Murtgagee by reason uf loss or damage insured against may be retained by the Mortgagee %i � ` �
<br /> � - � aad spplied toward the payment uf the debt hereby secured, or, at the option of the Mortgagee, such sums rither wholty or in � �� + �'�
<br /> . � � part may be paid over to the Mortgegor to . be used to repair such buildings or to build ' new buildings in thrir place or for any �. y, ��
<br /> - other: purpose or object setisfactory to the Mortgngee without aRecting the lien on the mortgage for the full amount secured- here- qi ' +-
<br /> . . by before auch payment ever taok place. � ` � �`„ � ' r�
<br /> � . . . k ,.1�.
<br /> � Tu promptly mpair, reatore or rrbuild any buildings or improvements now ur hereafter on the premises which may be- . � p( �
<br /> . come damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic e lien or otlaer lien ot . � � � ,
<br /> "- claim of lien �nob expressly subordinated to the lien hereof; not to sufTer or permit any unlawful use of or any nuiAance to exist on �
<br /> said property not to permit waste on seid premitses, nor to do any other act whereby the pmperty hereby conveyed shall become � '.
<br /> �� . less valuable, nor to diminiah or impair its value by any act or omission to act : to comply with all requirements ut law with respect � ,, ,
<br /> to tlie�mortgaged premises and the use thereof. �
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<br /> � That should the premises or any part thereof be taken or damaged by reason ot any public improvetnrnt or condemnation .
<br /> . . proceeding, or under the right of eminent domaiq or in any othet manner, the Mortgagee shall be entitled to all mmpensations, � �
<br /> .� awarda, and� any other payment or relief therefor, and� shal! be entided�, at'ita � optioni to � comme�e;� 'appear � in� and proaecLte°in 'it9 � � � �
<br /> . nwtr� neme nny sMion or proceeding, or to make any compromise or settlement in connection with such taking or damag¢. All such
<br /> � . ctfm�neaHon.: swa'rda. '�damages.' tight o[� actiomand proceeds 'are hereby ' eseigned to�: the �Mortgagee. '.who: mayt aftee : declucling � �
<br /> �� .- ther`efrbm 'atl its�e�cpensee. �releaae �any moneys �so �received by�� it or� appty the � same on any :indebtedness�.secured herebyrThe_Mort- .. . � .
<br /> t , .;�. gagoc-asreee ; to- exeeute< auch:�furtheraesignmentaof � any��:�compensatiun, . awarda. damages, and righta. of actwn �and :.q[oceedsae � the , � - ``
<br /> E ,. -, - MbrbB+�Bea,may,. M�luire.:; :�t.. . . . . � . . . , -. r;
<br /> { , .,, �. . . - :, � . . . . . . . . . � . . . . . . � . . .. . . . . . , . � , . ; . . ,
<br /> t � , . � . , � That in case o[ �failure to perform any of thr covenantx herein. the MortgaRee may � do on � the � Mortgegor'a 6ehalf � everything � �� � � .
<br /> � ' so oovenanted; that the Mortgagee .may also do any act it may deem necessary to protect the lien thereot: that the Mortgaqor will � �'
<br /> � ' . . re y u"pon 'demand any 'moneys �paid' �or-�diabu�sed` by the � Mort" agee'.for art 'of the above � � � � � � � � � ��� � '�
<br /> ;- g y purposea, and such moneys toget6er with .
<br /> �� iriteiest' "themon��aY the Tate���pcdvided� ia said �note �ahall �become so much additional indebtedness hereby � secured and�� may � fie in �a .
<br /> � � � � � cluded� in any decree foreclosing . this mortgage and be paid out of the rents or proceeds of�� �ele � oLsaid � premieea �i6 not.-otherwiee • -
<br /> f� � paid; thaE� it ahall not be.. obligatory� upon. the Mortgagee to inquire into the validity of any lien. encumbrances, � oc . claim� in ad- � �°' :. � `'
<br /> _ " vSndi�,+inorieys'as� above 'authorized, b'vb ��twthiag herein contained� shall � be conxtrued as . requiringlhe Mortgagee ta .,advance any �_✓:` . . ' . �
<br /> � " mo��s;tor� any^�auch purpoae nor to,:do my acthereunder; and that � Mortgagee. shall not ,incur any perxunal liability bacevye of,any - �
<br /> � ` thiu`:iE.may. d6 or omi!-to do hereunder- , , . . � � � � � . � . � � �
<br /> Nf ). •iC :::y. . �: .. . .... , . .. . . . . . . . . . . �. . . - . : . � .
<br /> #��' "'"��', ;� In the event of the de[ault, by Mortgagor in the payment of . any installment, as ��required.. by the Note secured �. hereby. or . �
<br /> � • �. in the performance of the obligation in t}iis mortgage or in �the note secured thereby, the �Mortgagee ehall be entitled Fo'declare the , .
<br /> :�•. � � debGaeCated heceby due>and payable without notice, and .the Mortgagee ahall be entitled at its option, without notice, either by ifaeif �� � � -�
<br /> � �. or�*a9i�oerver to 6e appoupte� bY', Yhe Court. fhereof 'and withou! eegaid� to the ad'equacy ot any accurity for'�the 'indebtednees ae- . � .
<br /> . cutec� .heteby, to `�enler upoh aacY4ak2 ,�ds9eis'ion of, the mortgaged premisee, and tiu cotlect �and receive the rents, ixeiueu .and ,profib � ��
<br /> ' "�` t�ie { ad�'�and appiy tFie' asii'ie Sesa coals o( operat�or� "And mllecEion, vpan� the indetitednese �secured '�by "this mortgage: 'said ' tenta,` �
<br /> :� _.-a. � §�,.+ > «ar .. .Y arr r . . , -
<br /> , `��• �M�``atxf��pro5ta�:b�ng'��ere6y`aeeigned'to�tfre>'R'�orlgagee�astttirtFle"r�seatriYy. for the�payment�of all indebtednese' secured�.here6y. . �� - � � ; � ` -' ��
<br /> ', ' �, . . �� . � . � . - ,; , ,:. . �- ' � , . . .,, . .,. � , . : .. , � . . c .;
<br /> �' - .7'1�e Mort�ee shall have� the power. to appoint eny atmt,or a6enta it may denix .(or the purpose of . repairin� seid prem- . - -
<br /> ,c�
<br /> , �,' 7� ronbr� :� � - thq renfa,_re,venuen ,and ,inco�e. and :it,maY PeY..out�of esid inrnme all expenses incur{ed .ia eenb - ' --c'�rx� " !
<br /> i�g md .marS�n�,���� o� rnllechng the r'entals therefrom. � The balance iemaining. if any, shall bc�applied 'loward the • � y : , ,
<br /> ., el�icilarse o[ the mottg�a e �� indgbf�dness, Th�s asei$nment �s fo terminate and become null and void upon release of thie :norfgage. � � 5 -:� � _
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