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<br /> � $-- U0263 '�
<br /> THE MOFtTGAGOR FURTHER COVENANTS AND AGREES: - �
<br /> Thaf Lhe Moctgagor � will pay the �indebtednens as hereinbefore prwided. , . _� ,, � � � �
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<br /> � 'I'haE tne .IvTorkgagor ia the owner=of said; property;;:n. fee„eim�sIe aad;�,t�as good', nghE end lawtul� authority , to �sr.11 � and _ � � -
<br />�� cor�vey the sa'trie �srid that the�aame�ia� free �and clear of any lien or' �encuinbrarfc'r. ['"atfd th 'st' Mortgagor wilt warrant� and� defend"thc ' � .
<br /> title to said premisea against. the�. clainis o[ all peraons whamnoever.
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<br /> . To pay immediately, when due and, PayaWe:all genecsl � taxea„Speciel[ taxes, specia! a.svesnmenGs, water chargea, sewer serv- �
<br /> ice chargea. �nd other taxee and�chargea sgp�ns[ said prpperty, and� all: taxea� levied on the debt secured hereby, and to [urnish - the .
<br /> - � Mortgaqee, ;�upon request, w�th 'f}ie: original or ' duplicate�. receipts 'thereEor.'""The . Moqtgagor agrees that there ahall be � added to �
<br /> each monthly peyment mjuired hereunder or under the evidence of debt secured hrreby an amount estimated hy the Mortgagee
<br /> to be sufficient to e�ble �the-Mortgagee ��to pay; . as� they� become �due, 'all taxes, assexsm�ntw, and similar charges upon the prem- � � �
<br /> ises aubject , tl�eret4; any.. de&ciency . because . ot.. the . insufficiency of such. addi4onal payments s6a11 be [orthwith . deposited . by._the .. . _ . _ � -
<br /> Mortgagor with �tiie ; Mortgagee� �:upon `demand by the Mortgagee. Any default under thie paragraph shall "be deemed a defaulE in � � �
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<br /> ��-payment � of tazes, assessmenfs, or � similar charges reyuired hereunder. � � � � � - � - �
<br /> � � � � The Mortgagor agreea � that there shall also be added to each rnonthly paymcnt of principal and interest required here-
<br /> � � under an amount cwtimated �by the Mortgagee to be sufficient to enable the Mortgagee to pay, as it becomPs due, tbe insurance ,
<br /> premium_on any insurance policy delivered to the Mortgagee. Any deficiency because nf the insufficiency uf such additiona! pay-��
<br /> ments xhall be forthwith depasited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this �
<br /> . paragraph shall be deemed a default in the payment of insurance premiums. if the f��icy or policies dep�uzited are .such ac kume-
<br /> owneis or all riak `policies, and the deposiLc are insufficient to pay the enfire premium, the MortgaRce may apply. the deposit to �
<br /> pay premiums on risks required to be insured by this mortRage. " � - �
<br /> Paymenfs made by the Mortgagor under the ahove paraKraphs rnay, at the option o( the Mortgagee, be held � by it and
<br /> � � rnmmingled with other such funds or iLc own tunds fur the payment o[ such Items, and until so applied , such payments are hereby . �
<br /> � pledged as aecurity for the unpaid balance of thr. mortgage indebtedness. . �
<br /> To procure, de]iver to, and maintein for the benefit of the Mortgagee during the life of lhis mortgage original policies and . �
<br /> renewals thereof, delivered at least ten days before the expiralion of any such policies, insuring againxt fire and uthec insuraFle �
<br /> hazarda, caeualtiee, and contingencies as the Mortgagee may requim, in an amoun! equal to the indebtedneas eecvred by thie .
<br /> Mortgage, and in companies acceptabte to the Mortgagee, with lo� payable clause in favor of and in form acceptahle to the Mortga- .
<br /> gee. In the event any policy is not renew�Nl un or bc+fore ten dayF uf its expiration , the Mortqagee may procure insurance on the .
<br /> imprwements, pay the premium therefor, and such sum shall becume imrnediately due and payable with interest at the rate set � � � . �
<br /> forth in said note until paid and ahall be yecurrd by this mortgaRe. Failure on the part ot the Mortgagor to [urniah such renewals � �
<br /> � as are herein required or failure to pay any cums advanced hereunder shall, at the option of tfie Mortgagee, cunstitute a default � �.
<br /> � under the ternLs of thie mortRage. The delivery of such pulicies shall , in the event of default, constitute an assiqnmrat o( the um � .
<br /> � eamed premium. � . � .
<br /> Any aums received by the Mortgagee by reason of loss or damage insured againat may be retained by the Mortgagee �
<br /> and applied toward the payment of the debt hereby secured , or, at the option of the Mortgagee, such aums either wholly or in . �
<br /> � part may be paid over to the Mortgagor to be used to repair such buildings or to build ' new buildings in their placr or far any � �
<br /> other purpose or object satisfactory to the Murtgagee without aReciin� th� lien on the mortgage for the tull amount secured here- � �
<br /> by befure such payment ever took place. ', � -
<br /> To promptly repair, restore or rebuild any buildings or improvements now ur herealter on the premiaes which may be- � � � �
<br /> come damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic's lien or other lien or � 5 "��
<br /> claim o( lien not expressly subordinated to the lien hereof; not to sufter ar permit any unlawful use ot or any nuisance to ezist on ');c ��
<br /> aaid property nar to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shall become
<br /> leas valuable. nor to diminish or impair ils value by any act nr omission to act: to comply with all requirements of law with respect '
<br /> � to the mortgaged premises and the use thereof.
<br /> That ahould the premises or any pact thereof be taken or damaged by rea�>n o( any public improvement or condemnation � � �• •-
<br /> � proceeding, or under the right of eminent domain, or in any other mannrr, the MurtgaKee ahall be entiqed to a11 compensation.s. '
<br /> - awards, and any other payment or relief therefor, and shall be entitled, at its option, to commence. appear in and prosecute in its �
<br /> own name any action or proceeding, or to make any compromise or settlement in connection with such taking ur damage. All such �
<br /> compensation, awards, damages, right of action and proceeds are hereby assigned to the Moztgagee, who may, after dedueting .
<br /> therefrom all ifs expenses, release any moneyx so received by it or apply the same on any indebiedness secured hereby. The Morb
<br /> gagor agrees to �execute such further axsignments of any compenuation, awards, damages, and rights of action and proceeds as the
<br /> - �Mortgagee may require. �
<br /> �� . That in caye of failure to perturm any of thr covenantx herein. the Mortgagee may do on the Mortgagor's behalf everything
<br /> �. eo covenanted; that the Mortgagee may also do any act it may deem necessary tu protect the lien thereof; that the . Mortgaqor wiU
<br /> . repay apon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes, and such moneys tugeLRer with
<br /> intereat thereon et the rale providecl in said note shall becomp so much ndditional indeAtPdness hereby ,ccurrd and may be in- .
<br /> . cluded in any �decree toreclosing thia martgage and be paid out o( the renl.a or proceeds o[ aale of said premises i( not otherwise ` � ��
<br /> paid; �that it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien, encumbrances. or claim in ad- `�� - �
<br /> _ vancing moneys es above authorized, but nothing herein contained xhnll be construed as requiring the Mortgagee tu advanrn nny � � � .
<br /> . moneya for any auch purpose nor to do any act hereunder; and that Mortgagee shall not incur any persunal IiaAility because of any- % .. ,
<br /> �� �.�. � thing it may do or omit to do Freceunden � ��. , ". �
<br /> 'M .�c . . . . � � . . .
<br /> �:' � ��� - � � . � In the event of the detault by MortRagor in the payment of any inatallment, as requircrl by the Note sec�red hereby, or ' g
<br /> .�1 �� in thr .pertormance of the �obligation in thia mortgage or in the note secured thereby, the Mortgagee shal! be entitled tn declare the ;,nl
<br /> � � debt secured hereby due and payable without notice, and the Mortgagee s6a11 be entitled et itg option, without notice, either by itaelf - � .
<br /> � or by a receiver tu be appointed by the court thereof. and without cegard lo the adequacy of any security fur thr indebtedness se-
<br /> � cured hezeby, to. enter � upon and take pos§ession of the mortgaged premisea. .and to collect and receive ibe ren4s, isnurs and profits �
<br /> 4 -theseof,� and. apply the - same, .less coets of operation. and colIection, upon the indebtedness aecured by this mortgage; said rents.
<br /> � iseues�.end .profitsbeing hereby assigned to the Mortgagee as further necurity for the payment ot all indebtedness xecured hereby. �
<br /> ' � � � The Mortgagee shall have the power to appoint any agent or agents it may desire for thc purpone of repuiring said prem- �n
<br /> � �� iaes: rentinq the aame; rnllecting the renta, revenuee� and income, and it rnay pay out of said income all � expenses incurred in rent- �- � - ,r`.�'''- � Y�-�� �
<br /> M1' .,
<br /> . ing and managing the same and of collecting the rentals theretrom. The balance remaining, if any, shall br apPlied toward the �:" ��'
<br /> . . . diecharge of :the ..mor.tgage �. indebtednees. This aseignment is to terminete and becomr null and void upon releane of thia mortgnge. �1v;, ����
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