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<br /> 78- 002506 .
<br /> T.HE , MUATGAGOR EVRTHEFL: OOVENA 'NTS AND AGREEB: .
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<br /> � � � That the Mortgagor will pay,fhe indebtedness aa� �� hereinbe(om provided. � � � . � . . �
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<br /> . . �- That tKe �Mortgagos �p fhe dN!n'er of said property in (ee simple � and ha9 �good right and lawful aothority to sell and �
<br /> convey �the same and thaL the sem0 td ([ee and clear of any hen or encumbrance; and �that' .Mortgagor will warrant �and defend the � . � ..
<br /> title to aaid � prem�aes" aga�hst ;t�tie cl�ms ,�ot alt perao�a. whomeoe�!er �
<br /> r� ,� • �x. � ,,� � ,���R , . s.� r , . . ': � �' � � �
<br /> ' To jSpy� immed�aioly when� due aad" pa°yable ,�all genexet taxes. special �:�taxea, apecial assesxmenls, � water charges, sewer s¢rv- . �� .
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<br /> �. ; � ice charges, and ::oLher; texea�� �nd charge+� against; eaid ptoperty, and, all� taxes levied on the debt secured hereby,. and to furniFh,_the , . - � � . . �. . . � ;::
<br /> � ' � - � Mortgagee, upo4. ��request, with. the .ori �aal , or du licate recei Ls there[pr. 'The Mo�t a � � � � � � �
<br /> +, , g' , , p ' p g gor agrees that � there �� �ahall fx� �added to " . -�
<br /> "� zach monthlyy,payment re�u�red hereunder or under tha evidence of debt secured hrreby an amount estimated hy the Mortgagee , , � � �
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<br /> =. to be su9'icienksto @nebfe th�;�lVlorE'gag�e ;to pay, as they become due:.. all . taxes, at�sessmenta, and similar �.charges upnn tF�e � prem• . � r � . � � �.�
<br /> ` ���` � ises ' subjpct�� theretb; 8ny deficiency becauae" of the� insu�ciency of �guch additional � paymenGv shall be torthwith �dep�iteH " by thp � � ��` ' � ` � �
<br /> . Mortgagor wifh thr Mortgagee �pon . demand by thc Mortgagee. Any defeult under thic paragraph shall be deemcrd a defauI! in � .
<br /> . �'-paymetit .of � texes. 'asse.s.cmenta,' � nr ' similai charges requirrd fierrund'er. � � � � � - � � � - � , .
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<br /> � � The ,Mnrtgngor � agrees thut �:thera �shal� � also be added to each monthly payment of yrincipal and intereeit .required here• , .. , . .
<br /> � under an amount eatimated by � the Mortgaqee to be sLJTicient to enable the Mortgagre to pay, as it becomrx due, lhe insurance � � . �� � ' ' �
<br /> ; premium on any. insurancr. policy delivered to the Mortga�ee. Any deficiency tx:cause 5�f the insufficiency uf such additional Pay- .� . .
<br /> � �� ments � afialt � be forthiSith' depoeited �fiy � the Murtgago� with lhe Mortgagce u�m demand � by� tha Mortgagee. Any default under this � � . . �
<br /> paragraph ahall be deemed a default in th�� payment � of ir�suranc� premiums. If the �licy or policies� depnsited � are auch " as� Fx�me- � � �
<br /> ' � owners or all risk Aiciew, and the de msiLv ure ineu�cient tn �a thr F�ntir�• rr•mium , the Mort a ee mn a I the de sr[ to
<br /> Ix ( f Y F� K K Y PP Y po. .
<br /> . �. pay prcmiums on riskx requized to bc inc� reci by thi� mort�;nga �. � �
<br /> � Paymentw made by the MortKnBor under the above paragraphe may, at the option of the Mortgagre, he held ' by it. and �.
<br /> eommingled with other such funcls or ils own funds fur lhe payment of such items. and until Yo applied, such payments are hereby .
<br /> ' pledged as security for the unpaid bnlance of the mort�a�r ind�•btedness. , , .
<br /> � To procure, deliver to, and mninWin for the benrfit of tha biortgagoe during the lite of this mortgege original policies and �
<br /> � renewals Lhereof, delive�ed at least ten days beCme the expiration of any such poficies, inKuring againsi fire and other insurable . -
<br /> ' hazarda, maualties, and contingencies as the Mortgagee may � require, in an � amount eqval to the indebtedness secured by this �.
<br /> � Mortgage, and in companies acr.eptable to lhe Mortgagee, with foas payabler clause in (avor of and in form acceptablP to the Mortga• �
<br /> � gee. In fhe event any pulicy is not renewtVl un or b�^tore ten days of iLa expiralion. tbe Mortgagee may procure insurance on the . �
<br /> � imprwementu, pay the premium therefor, and auch sum shall becume immediatcd_v due and payable with interest at the rate set � . -
<br /> �. (orth in said note until Paid and shnll �r wcurrd by this mortgn�e. F'ailure on the part ot the Mortgagor to furnish such renewals � �. �
<br /> . as are her¢in rr.quired ur failure to pay uny sumK advanced hereunder shall, at the oPtion o( thc Mortgagee, constitute a default � .
<br /> � � under the terms o[ lhia mortxHge. The delivery o! such polieies shall , in the event o! default, constiWte an assiqnment of the un•
<br /> � � eamed premium. '��
<br /> . Any sums IPCE`IVC(I by thr Mortgage� by reaeon of Inve or flumage insur�•d against may F>e retained by the Murtgagee ' � � � �
<br /> �� � and applied toward the payment o[ the debt h�>reby secured, or, at the option o[ the Mortgagee, such suma either wholly or in � .
<br /> � - part may be paid over to the Mortgagor to be used tn repair Yuch buildings or to buitd ' new buildinRs in their placr or for any
<br /> . � other purpose or object satislaMory W the MortKagee without aRectinK the lien on the mortgage for the tull amount srcured here- �� � � � �
<br /> by before such payment ever took place.
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<br /> �`� � To prompt(y repair. restore ur rebuild any huitdings nr improvements now or herea(ter on the premises whirb may be• � � "
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<br /> � � mme damaged or destroyed; to keeP sxid premises in R�d cundition and repeir and tree from any mechanic's lirn or olher lien or � :�
<br /> claim of li¢n not expressly aubordinated to the lien herrof; not to suffer or permit any unlawful use of or any nuisance to exist on � . . '!" �
<br /> � � aaid properly nor to permit waste on said premises, nor to do any other act whereby the praperty hereby conveyrc! shall become . � � . . _
<br /> � less valuable, nor to diminish or impair its value by any acf ur omis�ion to act to comply with alI rnquirrrnents of law with respect � � �
<br /> ' :� � to the mortgaged premises and the use thereoL . �. � . . .
<br /> � � � That should the premises or any part thereof be taken or damaged by reason of any public improvement or condemnation � � �
<br /> � � proceeding, or under the right u( eminent domain, ��r in any other mxnner, the h7ortgageP shall be entitled to all rnmpensatioms,
<br /> "' ' awards, and any other payment or relief therefor, and shaLL be. entitled, at its option, to � rnmmence: appear �in � and prosecute � �iif �its ` � � .
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<br /> � own name any action or praceeding, or to make any compromise or settlement in connection with auch taking or damage. Atl svch . �
<br /> - � i � compensatioa.� ewarda; � damages�, right of �action� and proceeda �are hereby aesigned �lo Yhe Mortgagee, who � may: alter -deducting � � � : � �
<br /> , j � thetrfrom all� ifs� ezpenses, releaee any moneys �o received. by it or apply the same oa any indebtedness secured hereby. The .-Mort- �_. '
<br /> gagor �agrees�� � to � e�cecute such . furthenageignments of any compennation, awards, damages, and righte �� of action and � proceeds as - the.� .
<br /> Mort6agee �maY- *eQuire. : . . . . � � . . � � . . . . � � . .
<br /> I � : . That in caseof failure to perfurm nny of the covenants herein, the Mortgagee may do on the Mortgagor's �behaK � everyt6ing- - � � � .
<br /> � ao covenanted: that the Murtgagee may also do any act it may deem necessary to prutect the lien thereof; that the btortgagor will `-�% . ,
<br /> � repay upon �demand �any moneys paid or �disb�zsed by the MoKgagee for any of the above purposes, and� such monevs togeffie'r �with� � - � . � ,
<br /> ' �� � internat thereort �-�eE� the rate � provided � in" �said � note ahall become so much additianal � indebtcYineRs hereby secured and �� maq � be in- � . .- � .
<br /> � cluded in anY decree foreclosing this murtgaRe and be paid out of the rents or proceeda of xale of naid � premises if not otherwiae . . . � , �
<br /> paid; thet it shap not be obligatory upon the Mortgagee to inquire into the validity of any lien, encumbrances, or claim in ad• � � . � � . � �
<br /> � vancinS��moneya 'ae above �authorized, but nothing herein contained shall be construed a� : requiring the Mortgagee tu advance any r-'-� � . . � � �
<br /> .` �� .� � � moneya �for �any such purpoae nor to. do any acY hereunder; and that MoHgagee shall not incur any. personal liability because .of aay� , �l .
<br /> � ;� - thing,.it.may. do �or. omit ,to� do. hereunder.. , . . . . . . � . . , . . �_ ,. . � � � �
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<br /> � . � In the event bt the default by . Mortgagor in the payment o[ any, installment, as required by the Note secured hereby, or .+�'! � � � � � � , � - �
<br /> ... , in the performance o( the obligation �in thia mortgage or in the note eiecured thereby, the MortgaRee sha❑ be entitled b declare the � . � � � � ,
<br /> ��,_,__�..��cu.red hereby, due and. payable without notice, and the Mortgagee shall be entiUed a! its aption, without notice, either by itaelt � �. � �� . � �
<br /> � � � or.. bya' Pe`ceiver Lo 'be �appdinted' by � the court thereof: and � without regard � to the� adequacy ot any seeurity for the �in�ebtedneaa .e- � � � � � � �
<br /> � � cured hereby, to ':enEer' �pon .and t$ke� pbs§ession otYhe � mo�tgaged premi�ses, and to rnllect and ��eceive� the renfs. issuex and Profitt � � � � � � �� . �
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<br /> . � � thereof, end. apply the. eame, ]esa coets uf operation and collection. upon the mdebte3neas aecurrd by, this mortgage� sa�d .rents, . � ,
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<br /> , . ��.�� isebes"et�d:piofib b'eing herebj�'aasigned�to the �Mortgagee-as furtfier secnrity for the payment ot` all indebtednesi+ secured hereby.� - � � � � �
<br /> S � t � � � The Mortgagee shall have the power to appoint any agent or agents it may desire tor the purpoee o[ repairing said ' Prem-
<br /> y ', . iaea; renting �LhQ,aame.; collecting. the rents, . revenuea and. i�come, and . it may pay out of xaid. inrnme all expenses incurred in renb . . � „< <�___.. ' � � �; " °
<br /> ; � ing .�and managmg the samt end ot collecting fhe rentals � therefrom. The balance rnmaining. it any, shall !x� applied toward the � ��i .
<br /> ' � diechasge o[ � �the mottgage indebtednei+s. . This aseignment is to terminate and become null and void upon releene of thix mortgage. � � ; ��
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