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<br /> 78— TI'tE72��R'JDC:A(3bR.L�'IIR:L'��Eit . COVENAN71�7�i`AATD`�74Z`iR�^FS:f 'ii . ' • -+�`�r •� c:;1.:i ±A � ' .i! '!:'Z ..
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<br />—. � That the: Mortgagor w�ll pe,y the indebtedness aa hereinbefore , providedJ � , ' � � . . � _j; G>_ , � ^;t � �
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<br /> � � � That the Mortgagor is thG.,;6wner of said Property in [ee simple and hes good right and lawtul authority to sell and � � - • �
<br />� �� convey the sea�}�a{iC'jGhp@�e same ia free and clear of. any liew. iis �k6eiyn'!{�rance; �ndf�I�t:Mortgagor witl wa�antuaod'+•8�efc*dd:1h� ���G3?: . .
<br />� � ' � title to said , Premiees egainst!, tk�e ctaims of all pereons whomsoever. � . �.� �� . ':
<br /> . � .. . ��. L . - . . � . . . �. �...Z Y �i +ti . .
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<br /> To pa�,�i���fkly' 'vvheq;due and � payaSle all general� taxcs, special �fexes, spec�al a�ssmen�s, water cha�grs, �'e�et st+ 'r4 '" '
<br /> ' ice charges, and� other. taxea and chargcw against said property . and nll taxes levied on th<� deGt. secured hereby, and to turnish the . .
<br /> � � Mortgagee, upon '�y;,e�tEiwitkj;�1{e:�ti�inal or duplieate receipls t}�ere(or. The M`�oetgagi�r agre�s thxt� tlie'sr 511a1! Ni2'r�(dd'dd tii: �:�^;<i :J
<br />� ' each monthly payment reyuire�l Lrreunder or undcr the rvic�t�nCC oI debt securcd h�reby an amount eYtimatvd My the Mortgagee , �
<br /> � !o � be aufficient''to enabCe�'tha �lvinrtgagee� to pny , as they become due; all taxes, ussc�smen[s, s�nd vimilar charges u�n � the prem• 1�
<br /> ', ises rwbject thereto: any deficiency l�ecauve oC thv in+uificiency of� x�ch edditinnal payme ^th �fiat[ be � fnrthwifh depcmited by thr ' � "` . �
<br /> � Mortgagor with the MortKagee upon demand by fhr Mortgagev. Any drfault under thiti paragraph shalt br deomnd a defnult in ,
<br /> . e ` . r ' ' . , . . . 4 .' Y ., . . .
<br /> 3(I�y�fise't(C nf tezeEC. �zn< rtLa ' nr v��1ar chnrge+ rNqwred hrraun�er�-� � �
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<br /> �.. Thr "Mor4Kagor akrees �f}�at there sh�ll alvo bi� ���de8' � ln earh� m6nthly �F aym<•n�."nT pnncipal ancl intensf required hete- �-
<br /> under nn amount est.imated by the Mortgager tu be sufiicient t�. enablr the MortgaRe�' to P�� • as it bt•cnm��s Aua. , the nsurance . .
<br /> premium on any insurance pulioy de(ivered to tha Mnrtgaqee, Any drfici�•ncy M•cause of the invu(ficierncy uf such addiLiGnal Pay-
<br /> � menLs sfiall bv forthwith �deposited by the Mortgagor wilh the tlorlgngec upun dem:+nd h_: thr Mortgag�e . Any default undar this .
<br /> paragraph �hall be deemed a default in the payment o[ inRurance Preminms. I( lhe �licy or policies deposiled arc• such as h*�me� � � � �
<br /> ownerr. or ail risk {wlicies, and thC de{x�tiitx are insuff�icicmt to pay the e•nt.irr premium, the A4ortKnFE'e may appiy the deponTt to . .
<br /> . pay Premiums on ri�ks requAre� .�4 be insureci by thix, murt�af:,rc .. .;. - r . . : � ; � . � . � . : i. . „ . ' . .
<br /> PaymcnLs made Uy the �Mvrtgagorrunder thr � :�bove parti�.rephs! �may . nL �fhr. o{7lion of. the �.�M�rFgagee rbe '�.held - by it and .
<br /> � commingled with other such funds nr its own funds fur Ihe payment of such items. and until sn � pplied such p�ymAntv are herrby
<br /> plcvlged as security for the unpaid balancer o( lher mnrtgal;P indebtedn��sv. '� ' " � . �
<br /> " To pn�cure, deliver to, and maintain for the b�•nefit of thr Mortgagee during the li(r of this rnortgage originul Poiicies and � . �
<br /> renewals thereof, tileliJr- r� aE IeAsE`tan "daYa FieEore, 'the expiraEton ot� any � such ;�ielicieat � inurring ���a�'sinst �'ire�. ahd�a>ther insurahle � � :
<br /> hazarde, casualties,{,end��. ,Gontin�enciea;�as :_ �e MottSageo- maY �;*equiM in � ary �, �amonRf : e9va1 -.ta;the .,�sndebOtciopns.'�ecured by this . �
<br /> Mortgege, and in rnmpanies acceptable to the Mortgage�•, with loss P�Yable clause �n favor o[ and in (orm aecep)ab3e..to tbe blortga-
<br /> � gee. In the event any p��licy is neit renewed on or bt�fore ten dt�Y4 ��f iLv expiratiun, the Mortgagee rnny �jxocure msurance on the
<br /> � impravements, pay the premium there(or, and such surn sha❑ bemme immediately duP and pAyable with intore+t at the rate set
<br /> forth in said noLe until paid and vha❑ Ix� secured by thix mortgage. Failure on the part of the biortgagor to turnish such renewals
<br /> � as are herein required ur failure to pay any swns advaacrd hrrvund��r vhall , at the option ot the MortqaR�'• constitute a defautt �, , . .
<br /> under the termw of this mortgaKe. 'I'he drlivery of such pulieiN. .hall , in the rvent uf �lefault. cunstitute an assignmrnt of IhP un- . �
<br /> � earned premium. . � -
<br /> Any aums received by thr Mortgagee by reason o! losc or dumage insurrd U�ainst may be retained by the M<�rtgagee �
<br /> � and applied toward the puyment of the debt hrreby secured, or, at the option of the �9ortgagee, sueh suma eithrr wholly or in . �
<br /> � part may be peid over to the Mortgagor tu be use�d to mpair such buildings or eo build ' new buildingx in the•ir place or fnr any .
<br /> other purpose or object salisfaclory to the Mortgagee without nftrcting lhe tien nn the mortgaKe for the (ull amount securnd here-
<br /> ! by belure such payment ever took place. � �
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<br /> ' To prumptly repuir, restore or rebuild any buildin�w or improvrmants now ur }trres,fter on the premisen whia:h may he-
<br />. come damaS� or destroyed ; to keep said premises in guod rnndition and repair and free from any mechanids lien or other lien or , . ,
<br /> claim of lien not expressly subordinated to the lien hrreof: not to suRer or permit any unlawful use of ar any nuisance to exist on � � � .
<br /> � said property nor to permit waste on said prrmises, nor to do any other act whereby the property hereby conveyed shall become �. .
<br /> � Iess valuable, nor to diminiah or impair its vnlue by any act nr omission lo act ; to complp with all reqairements uf law with respect . .
<br /> � � to the mortgaged premises and the use thereoL . � �
<br /> � That should the premises or any part therrof be taken ur damaged by rrason oI any public impmvement or condemnation � � � -
<br /> � proceeding. or under the right of eminent domain, ur in any other manner, tha: MortgaKeP ahall be entitled to all com�nsatioas. , �
<br /> � awards, and any other payment or relief there[or. and shall be entitled, at its optian, to commence�, appear in and proaecute in � ita -
<br /> � � own name anY action ur proceeding, or to make any campromise or settlement in connection with such taking or damage_ All nuch , .
<br /> compensalion: awerde, damages, ri6ht of action and proceeds are hereby aseigned to the Mortgagee. .who may, after � deducting .
<br /> ' therefrom ali ita expenses, release anY moneys so received by it or apply the same on. any indebtedneas secured hereby. The Mort- � � � '�
<br /> . gagor� agrees� to execute such further ansignmentu of any compensation, awards, damages. and righls ot actiun and Rroceedx es � the � '.... �
<br /> - Mortga6ee� �maY *�Wuire. . . . . . . _ . . . .
<br /> � Tbat in case of failure to periurm any of thr covenant� herein, the MortgaRee may do on the Mortgagor'4 behalf everytFing � , ; '
<br /> � so covenented; tl�at the Murtgagee may also do any act it may deem necessary tu proteM the lien thereof: that the Mortqagor will � .
<br /> . ' repay upon demand any �moneys paid or disbursed by the Mortgagee (or any ot the above purposes, and �such moneys toqet6er with � � �
<br /> intereat thereon at the rale provided in said �note ahall become so much additional indebtedness hereby secured end may be im � .
<br /> cluded in eny decree foreclosing this mortgage and be paid out of the rents or proceeds of :sale ot said Aremixes if� � not� othetwise � �
<br /> . paid: that it shall not be obligatory upon the Mortgagee to inquire intu the validity of any lien, encumbrances, or claim in ad- . . .
<br /> . . vaneing �moneys� aa� above � authorized, but nothing herein contained shall be construed as requiring the MortRagre tu advance any
<br /> . � � � moneys �for� any .such � purpoee nor to do any act hereuader, and that Mortgaqee shall not incur any persunal liability hecauae of any- . .
<br /> thing �.ib�may�� do-or.omi42o do hereuc�der. � � . � � � � - � � . .
<br /> � In the event of the detault by Mortgagor. in . the payment of any installment, as requirrd by the Note yecured hereby. � or. � .
<br /> in the performance of the obligation in this mortgaqe or in the note secured thereby, thr Mortgagee ehell be rntitlrvi to declare the � � �
<br /> debt. secured hereby.due,.snd psyable without notice. and the Mortgagee shall be entitled at ifs option. without notice, either by ifaelt
<br /> � � � or by ��a receiver tb be appointed by the ' court thereoF, and without regard to the adequacy o[ any security for the � indebtedness xe- � . .
<br /> ' � cLLred. ,hereby. fo eriCer` Upot� �and ��take poebedsion oT� 'the mortgag¢� Premisee.� and � to eollect and � receive the � renLa. �issuey and profita � � ��
<br /> �� th�eteof � and apply t}ie' �satna; lese� casts� of 'operation� �and�� coliection, upon t6e � indebtrdnesa secured by thiaYmo�lgage; sa�d, �Cnl�, . .: , � .:.
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<br />' � � iesves"end pi'olifs'be�ng= hereby'ase�iqned'fo �th'e' MortRageeas further security for the paymenL of all indebtedness slti=z'rA� here(iY. . ,�..,.rT-,.
<br /> . . The � Mortgagee ahall have the power to appoint any agent or egenfs � it may desire for Lhe purpoae of repairing said Prem• t � -�
<br />� ; � iaes: . re�ting tht eame,, rnllecting: khe renta, revenues end income, end it may pay out of said income all expenses incurred in renb ,,�' Y+ ��
<br /> � ing- �and �� mane�g �Lhe aameand of co]tect�ng E6e�� rentals� �therefrom.' The � balance remaining, if any, shall be applied towanl the �
<br />—' � ; � g , , his ,assignment ie tn terminate and become nvll and void upon release of this mortRage. „ ,��. � �,
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<br /> decharge ot the mort a e indebtedneee� T . . . .. . . . . . . . _ .. .. .___ . . ,, : ''ry :
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