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<br /> r` �8-- 002507 . , - - , , , . : : : ; : ;
<br /> T�iE MORTGAGOR..,FURTHER COVENANTa AND AGREESe _
<br /> ?� �;r . '<
<br /> ': ��. . . . Tbat .4he I�ortgagor .will Pay the i.�debtedncvs se- hereinbetore. provided: � : � . .. . � . , . � : ._ � . ,. �.�
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<br /> . . . y[ . :; . � . . , - � . . . . . . . . . .. . . , . . : . .:� � .
<br /> ; � � � That the ,Mortgagor' is,`,: the 6wner of eaid property in fee simple and has good right and lawfut authority to sell and�� �.� . �
<br /> �: � _ . convey the saine end. that 'the paine is free and clear o[ any iien or� encumbrance; and that Mortgagor will warrant . and �:defend the- �. � � . .. � � �
<br /> � ti[le to said '.�� remises � a ainst '�tke ctaims�. of all . . �. . . . . . . �. . . . . � :
<br /> F R . , . . -. peraons �..whomsoever. . . .
<br /> � � To pey, immediately when ,due and paya6le all � �genecal taxes, special taxes, special axvew:men4c. �watrr chgrges, sewer serv-"� ' � � . . � �
<br /> � ice charges, and -�other �taxen and charges against eaid� � property, and �all � laxes IPVIPfI on thr dehisecured hereby, and to furnish the � � � � �
<br /> � Mortgagee, upon request; with ... the .originat �r duplicate receipts therefor. Thc Mortgaqor agreex that there shall - be �addeil �Ya � '` . . � � � � .
<br /> � eac!h monLhly payment requirnd � herrundrr or under the evidrncE• of debt secured hr�reby an amount evtimated by the Mortgflgee . .� � � � � . � ' �
<br /> � [o . be suR'icien�E'' ta ' eneble the � Martgagee� to pny, as they become due. all �tnxes. asressments, artd simitar chargwr upon � the prem- : ,� � � - � � �
<br /> ises� subjecY thereto; " any 8eficienr.y �F�eause of the Snautficiency uf such additional paymenLs whail he Corthwith depagited � Hy Lhe " � � � � " : � � , .`
<br /> � � h2artgagor witli the MortgaK�'P upon demand by the Mortgagce. Any defnult undvr this pnragraph shall be Jermed a defau}t in , � . , �
<br /> . paymenf of ltexes, asxessments, � nr � stimilar charges r��quired Lereunder. . � � � � �� � �
<br /> The Mortgagor agreea. �. tbat there �shall � also be added. to each monthly payment. u( principal � and inlerent rsquired here- - . . .
<br /> . : under an amount cstimated by the Mortgagee to be siifficicnt tu enable t.he Mortga�;r�• tn pay, as it becomcs �due, the insurance �. � � .
<br /> ' premium ��n any insurance_ pulicy delivered to Che Mortgagee. Any defici�rncy beceuse nf the. insufficiency o( such . additionat pay- � �
<br /> � mentc-shalt- kie fnrthwitk �ilepnsited by the Mortgagor with thr Mortgagee u�n demand by lhe Mortgagee. Any default �U�der this � � � �
<br /> - paragraph shall 6e deemed a default in the payment of in.vrance PrFmiuma. If th� �licy or policies depocited are such ' as home- � � �
<br /> � owners or all risk policies, and the <leP�sits are insu�cii�nt lo pay thc r•ntitA premium, the Mort�agee may apply the deposit to � � �
<br /> �� pay premiums un risks required to be insurtd by this mortgaFa. �
<br /> � Payments made by the MurtPugor under the abovr• p��ragraphs may , at the option of the Mortgatiee, tre held ' by it and . . . .
<br /> commingled with other such lunds or its own tunds fur the payment of such � items, and until s�� applied. such pnyments are hereby �
<br /> � - pledqed as security for the unpaid t�alxnce o( the mort�agP in�3ebtednex�c. � .
<br /> To procure, deliver tn, and m:+intain fur the benrfit nf the Mortgagee during the li[e ot this mortgage uriginal policies Hnd � '
<br /> . �� renewals thereot, delivereci at. least ten days trefore the expiration of any such polictes, incuring against fire nnd other insurnFle �
<br /> �� hazarde, casualtiee, and rnntingencies as the Mortgagee may reyuire, in en nmount equal to the indebtedneas secuted by this �
<br /> ; Mortgage, and in companie� ncceptable to t.Me Mottgagee, wilh loss payabin clausF in favor oL and in form acceptablr to the Mortqa- �
<br /> � gee. In the event any pulicy is not renewed un or before tc. n days of its expiration. the ltortgagee may prucure insurance on the . � �
<br /> � improvements, pay the premium therefor. and such sum e:hall bec�me immedietelv due and payable with interest nt the rate set .
<br /> �� torth in said note unlil paid and shall fx� secured by this mortgage. Failure on the part of the Mortgagor to (umi�h such rnnewals -
<br /> as are herein required ur tailure tu pay any �um. udrmced h<rreunder R}1pII, AL the option of the Mortgagee, constitute a de[au�t
<br /> . under the terma of this mortgage. The delivrry ot such polici��s shall , in the cwent of default, rnnstitute an assignment ot the um . �:.
<br /> eamed premium. , - , �
<br /> Y .Y.
<br /> . Any snma received by thr Mortgagee by rrason o( losc or damage insured against may be retained by thP Murtgaqee � ,,;�.�w.
<br /> � and applied toward the payment o[ the debt hereby secured , or, at the nption of the biortgagee, such sums either wholly or in � � �
<br /> part may be paid over to the Mortgakor to be used tn repair such buildings or to build ' new buildings in their place or for any , . . � . � -
<br /> �. other purpose ur object e�atisfactury to the Mortgagt•a without aRectinK the lien on the morlgage for the (ull amount see�rcd here- . , � � �
<br /> � � by belore such payment ever took place. � - � . .
<br /> � To promptly repair, restore ur rebuild any building� or improvemenLs now ur hrreufter nn the premiaes which may be- . � . .
<br /> . come damaged or destroyed : to keep said premises in good conrlition and repair and (ree from any mrchanic's lien or other lien or ,
<br /> claim of lien not exprcssly subordinated to the lien hereof; not to suHer or permit any unlawful use of or any nuisance to exist on - ��
<br /> ' . said property nor to permit waste on xaid premises. nor to do any other act wherE•by the property hereby conveyed shall become �� � � ��
<br /> � leas veluable, nor to diminish or impair its value by any act or omistiiun to act : to comply with a1f requirements uf law with respect . � � �
<br /> � to tha mortgaged premises and the use thereof. '. � � � � -
<br /> �� . T6ai should the premiaes or any part thereof be taken or damaged by rrason of any pufilic improvemont or condemnation �
<br /> ' � proceeding, or under the righl of eminent domain, or in any other manneq the Mortgaqee shall he entitted tn all compensations, . � . . �
<br /> � awards, and any other payment or relief therrfor, and shall be entitlecl, at ifs option. to commence, appear in and proetecute 'in � ita . .
<br /> own name any action or proceeding, or to make any compromise or settlement in connection with such taking or damage. All such . � . ..
<br /> cotoipeneation; �awetde. � dameges. -�right � ot aciion and proceeda are herehy assigned to the Mortgagee. � :who may, efter ��deducting , �
<br /> there(rom all ita � expenses. release any moneya eo �received by it oc apply� the same un any indebtednens secured hereby. The Mort- � � � �� � �
<br /> g9goC. agreea. 'to. enecute auch (urther asaignments of any compensation. aworda, damnges, and � rights o( action arid nroceedn av the , � . � .
<br /> � � Mortgagee maY �9uire. � . . - . . � . . . . . . . . . . . .
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<br /> � That in cese of failure to per(urm any of the covenanls herein. the Mortgagee may do on the Mortgagor's behalt everything „ �. . � � -
<br /> , �. ! ao .covenanted; that the , Mortgagee may also do any act it may deem necessary to protect the lien thereof; that the Mortgaqor will . ��, � � � � -� �� •
<br /> = � � repEq upon demand �any �moneys ' �paid or disbursed by the Morlgagee �for any of tBe aFwve pur{soses, and such moneys tagetfier with - �„� � � . .
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<br /> � . in(eresf thcreoa� aNthe rate��� provided'� in esid note nhall become so much � additional indebtedneas hereby secured and may � Ix in- - � �
<br /> � � �cluded in any decree forecloaing this mortgaqe and be paid out of the rents or proceeda o[ uelr of said premises� if not otherwise� " . � -. . � �
<br /> . paid; that it e6a11 not be obligatory upon the Mortgagee to inquire into the validity of any lien, encumbrxnces, or claim in ad- � � � . .
<br /> � valncing� moneys '�adabove �authoriud�, b�t � aothing hereia wntained shall be constrved as requiring the Mortgagee to advance ,any � � � �
<br /> . moneya-.foranyauchpurpoee norto �do eny act hereunder; and that Mortgagee �ahall not incur any pertwnal liability hecausr, of any-. . �' � . . . .
<br /> thing. iQ,may�: dooc.omi[ .todohereunder. .. � � . . . . � . .. . � . . � . . .
<br /> � t � � r In �the eve`nt� o[ the deFault by �Mortgagor,:in �fhe payment of any, inatallment, as required by � the Note seeured hereby, or . �
<br /> in .the perCormance o[ the obligation in this mortgage or in the � note secured Lhereby, the Mortgagee shall ba entiitecl to� deilare the �
<br /> �� . � dgbk secured }iereby dpe aad payable without noUce and the ,Mortgagee shall ba entitled at its option, without notice, either hy it+elf � � ., �--• - � �
<br /> . : '. , o� �' 8 ieoeiJe� 2o 'Ke 'sppointkd; tiy the`court theieof ar�8 'witfiout regaril to ttie adequacy ot any security f�r � tbe indebtedness se-
<br /> q cuc�ed fiere'by°�to enter ' upon and Yake 'pas§�ss�on° �oY the mortgaged premiaea, dnd to collect and'receive the rents; issuea and profib - .. � �.,` �� ( . .
<br /> '�`. ���� �lba$s�'�ndtp` �Bt��" ui�h�te e��ig�lre�•tp��l�eF(�pYn �and' Mllection. :upon the� '-indebtedness secured by� thin mocigaRe: said ' rents. .. . . ` �� . � � .
<br /> tlie�eof and�ap l�' tl�'e+�saine .leee cabts'of o rdti .
<br /> . � '�te 'by�i� . 'tgagee�sx '.f6rther�.sceuzitq�for the �payment of �ll inde6trilnca9 secorecl hereby. . , �.�
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<br /> � � The--�Modgagee e'hall� have tha power to appoint �any agen! or agenLs �it may desire for the purpoee of repairing said prem- S`s , � n�•
<br /> ` � ,` ' � ires; renting.��,tlae eaa�C:�, �lect�ng the.. renis revenues sand income, and it �may pay out oE said inrnme al1 expenses ineurred in rent- � :��_'' ?.;�;.�, �
<br /> � ' ing �� and maaaeipg tlie'� swme� and� oE collecting the��rentals t}�erefrom: The �baiance� remaining, if ' sny. shalt be applied toward t}w � u . .:"t'"�
<br /> % �.. . � � di�charycc of �tt�e mortgage indebtedneas. � This: esaiRnment is to terminate and become nulf and void u F �� . �
<br /> pon releave of this mortRaRe.
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