|
I �
<br /> �s- U► 0293 �
<br /> .. .. .. . , .. . . ., . . . _ ,
<br /> THE .. MO ' „ ry GAR� I�C'�E�H�Et�' C':OVENANT3 • [APYD 'AGREES c - _ �?� r,. - , : . � , c:: _ '
<br /> , ' . _ '-. � a.. • �,.. `
<br /> r .... . : . That- the MQ+tHaBafr-wi�) p(�}�yp rndebtednesa ae - hereinbefore Aravided. . . � . � � . . . . � _ . . . :
<br /> ; F r { y Y.1. 5 {�i` � ' 1 � . . .,.. . . . . . �. . . . . . ' . . .. ' ' . . •
<br /> . .. . � ; .. � � 1 ' .,. . . , . . . - � . . � �. � 1� . � . �. . �
<br /> � convey the aer�a� il�2 �he'saiNeas�free and cl ��� nroperty �n fee simple and hna Rood right and law(ul authoriry ta sell and � . . . � �
<br /> . . ; � r. _ . . -
<br /> That � th� 1Glortgagor �s ��t�e dwner of sa
<br /> � title to sa�d � remiaes ' e arnsi 'tFi+e c{a�m3;� of aLL �„�r o[ any I�en oirneum6t�ance; and EFiat`Wfurtgagor will warrant�`9hd� -detend the ` .�'' �
<br /> .P R Peraons' whomaoever. . . .
<br /> -� ( � ,�.{{ C ` :. : . . ,_: . . . � . � :. . , ' . ,, � _ � , . � .
<br /> � . � To pay�iMtil"edi�t�ly when dne� and payable al! general taxes, special taxes, special a.�.vessmrntv, water charges, sewer serv: ' ' , �� � � � � � .
<br /> j � ice. cherges, and othe'r��-tazes� an�3. chnrges �against suid Prope.rty , and all tnxi�s levied on thc deht serured hereby, and to furnish tho � �. � � �
<br /> . " •` .. .. . .. � . . . . . � , { _. .. � . . , ,_ .., :
<br /> ' Mortgegee, Up�� request, with 'it�A -'oY�g�nal =or •��icate �'�receipts -�hheref<ir. The Mi>rtge��r aqreca that '� t�ere v}r�ll �Aa+'•e'tklerFt�if`'� . . �
<br /> ' ' r.ach monthly pE�igqt�z�guirnd herrundrr or under thv r.vidence of debt secured hereby an amount estimuted hy the Mortgagee � � . . . .
<br /> . to be su6icient to enable the� �MbrfRBBee� to Vay, as they become due, all taxes, anseawnents. and similar charges u{wn tbe prem• � . . �
<br /> , ises �Rutiject [heretoj � any deficicnoy tx�couse oC lhe insuffciency aC such ndditional paymc•niv shal� be forthwith depncited by � tNa � � � � � � � � . �
<br /> Mortgagot,, .wiGh the, Mortgagee upon., flemand by the Mortgagee. Any default under this. ,pqraRruph shall FF d�ernerl a default m � � �
<br /> � f pnj��n� Qf . taxety a�N3.4meAt8.�. nr siissiJar,. chargee r.eq�ifed hc-reundf7. . . .� � ,. .
<br /> ., . . . . . , � , .. �,,
<br /> . '� . ,. . _ ,, : � . . _ . . , . . . _ . . . � . � : . �: -r' . �. . �
<br /> ....,. . _. . � � . . � . . _ . . . . . .
<br /> : The Mortgagor agrees that ihere sha❑ also t� �dded to each montbly�- payment of �-prinefpal� ar�S "rnterexB-r@quired<"hare- �'� ' � � �� . . � , � .
<br /> ' under an amount avLimated by tht• MortgageF tu be sufficicnt tn enable Lhe Morlgal:A�' tu p�y , as it be�cnmrs due, the insurance ��� � � .
<br /> . premium on any inxurance �wlicy delivered to th� Mortgugee. Any deficirncy M�•cause t�! the insufBciency uf such additional pay- _ . . .
<br /> � ments sha1C bc forthwilh dePosited by the Mortgagor with the Mnrtgagee u}wn demund by thP Mortgagee. � Any default under this ;
<br /> : paragraph shall bc deemed a default in the payment of incurance prrmiums. 7f thc �licy or poiicies depoeitnd flre such as hume� � � � .
<br /> �� ownera ur all risk policies, and the depnsits am inxufficient to pay th�• entin• premium, the MnrtgaQee may apply the de�msit M - � �
<br /> � P Y P , _ ,. 4 red .to be insurvcl ,by thts morlKagr. . . .. . . r. . . ; . .
<br /> a remiums on nsks rc ui
<br /> .,. .. , . . . . .. : . ' ��:
<br /> �. ' � . . :. : -� � . , . . . . .. . � � .:� , �! . . . . . .. : . . . �. �. �. . . . , . . .�.
<br /> Paymunta' macle �by th6���.NJprt�;agor ',un�ler !h� iibpye: pa[agraphs: may, a't ' fhq npTion of the� M9�tSagee, be('hetd; Fy it and � � � � . �� � .
<br /> ��. rnmmingled with other such funds ar its own tundv for the�� payment -of� such it.-mn; and � until, aso, applied, svch� paymenfs are herehy ' � � � � .
<br /> ' ptedgecl a.r security for the vnpnid balanor of the mor[�aFr indeMednesa � � . � � .
<br /> To p�xure, dcliver to. and mnintain for the ba�nefit nf th�� Atortga�;ee durinj; the life o[ this mortgage oriF��al policies unA � � � . �
<br /> ' renewals thereof, delivered at least tan days M•lore the expiration uf any such policies, incuriny- against fire and uther insurable . .
<br /> � hazarda, cssaaltiea, and contingencies as the Mortgage�e may require, in nn amoun! equal to fhe indebtedneas aecured by this � .
<br /> � �� � Mortgage, and in companies acceptable to the Mort.gagec•, «ith lo.s payable claus�� in fs�eor o( and in f<,rm accrptable to the Rlortga- . � -
<br /> gee. In the event any pulicy is not renew�vl un ur be.(orr ten d..ys ut it< <�xpiration, the hlortRagee muy prxure• insurance on the - �
<br /> improvements, pay the premium therafor, and such sum shall fiecnme immediately due and payable with interrat at the rate set ! .
<br /> forth in said note until paid and shall fx� .ecured by this mortga�e'. Failure on the part of the Mortgagor to furnish such renewals �, � �
<br /> . ' es are herein required or failure tn pay any .ums arlvanced heruunder chall, at the option of thc Mortgagi�•, constitute a default : .
<br /> under the terrtt9 of thi. mortgage. The d��tivery oE such pulicier sball , � n the cvernt of drfault, constitute an axsiQnment of the um � � �
<br /> earned premium. - , . .
<br /> � Any sums received by the Mortgagee by rensun nt loss or dama6e insurrd aKainst rrsay be retained by the Murtgagrr. �� . ,
<br /> and appliecl Wward the paymert nf the debt. hereby s.�r.ured , or, at the optian of the Mortgagee, such sums rither wholly or in � -
<br /> part may be paid over to the Mortgagor to tw used to ropair such buildings or tn build ' new bvildings in their place or Eor any � �
<br /> other putpose or object satisfactory to the Murtgagee withnut aRectin�; th.• liPn nn the mortqage� (or the full amcwnl srcured here- - � � � . �
<br /> by befure such payment r.ver took place. � � � .
<br /> ' To promptly repair, restore ur reb�ild xny ¢uilding� nr imprnvements now or brreafter on the premi�es which maY be• � � , '
<br /> : rnme demaged or destroyed; to keep said premises in K�� rnndition and repair and (re�� from any mechanie's �iFn or other lien or . � '
<br /> . claim o[ lien not expresaly evbnrdinated tn the lien hereof; not to suffer or permit any unlawful use of or any nuisance to exist on � � � � .
<br /> � eaid property nor to permit waste on seid premises, nvr tu do any other act wherrby the property hereby conveyed shall become � � . � . . ��` �
<br /> ,' less valuable, nor to diminish or impair its value by any act or nmiscion to act : to comply with all rrquirements ot law with respect � � � � � .
<br /> ,
<br /> � to the mortgaged premises and the use. thereoL � � . � �
<br /> That ahould the premises or any part therewf be taken ur damuged by rea�n of any public improvement or condemnation � � � �
<br /> � proceeding, or under the right of eminent domain, nr in any uther manner, tha- Mortgagec shall be entitled to all compensations. � � � � � .
<br /> awards, and any other payment or relief therefor, and shalt be entitled, at it_a optian, to commence, appear in and prose�cute in itn . � � .
<br /> ' own name any action or proceeding, or to make nny cumpromise or settlement in connection with auch takinA or damage. All such . . � �
<br /> � compenealion.' awards, demages, right o(� action and� proceeda are hereby . assigned to the Mortgagee, who may: after � declucting . � � �
<br /> tAerefrom all ita� expenaea, relesse at�y moneya ao received by it or apP�Y the same un any indebtednelss secured � hereby, The . Mort= . � �. .
<br /> � gegor � agrees � to � execute s�ch further aseignments of any compeneation, awards, damaqes, and righls of actiun and �rocecxls as the . �
<br /> : , Mo*tSaBee :�maY re4uire. . . . . . . . . . . .
<br /> � That in case ot failure to perform any of thr covenants hercin, the Mortgagee may do nn thc Mortgagor's f�ehalf everything . . �
<br /> eo covenanted; that the Moctgagee may ulso do any act it may deem neceysary tn protect the lien thereo[: that the MortgaRor will � �. . �
<br /> � � repey upon �demand any moneya paid or disbursed 6y the Morlgagec [or any of the alx�ve parposes, and such moneys togetRer with � � � . �
<br /> � � intezest �4hereon 'et the rate - provided in naid note shall become so much additionxl indebtednesa Mereby secured� and may be im ,.,. �, � � � �
<br /> � � cluded in any decree loreclosing this mortgage and be paid out of the renLs or prxeede of yele - of� said premieies if not othei+vifie `� . � . �
<br /> � paid; that it shall not be obligatory u{wn the Mortgagec to inquire intu the validity of any lie�, encumbrancra or claim in ad- � � � � . ,
<br /> .j�� vancing� moneys �as �. aboye authorized, but nothinq herein contained� shall be . corastrued as requiring the Mortgagrr. W advance any � - . � �
<br /> moneya,for any �such . purpose nor: to �do any act hereunder; and that Mortgagee shall not .incur any persunal liability becauxr of any-
<br /> � [l�ing� it:mayido or. omit ��to do hereundec. � � � . . •-� � �
<br /> i--
<br /> � ;. . � � � �In lhe . event o( the deEaalt by Mortgagor in thr payment ot any installment, as required by the Note secured hereby. or � . �
<br /> in. the performance of the obligation in thia mortgagr or in the note secured Lhereby, the biortgagce shall br rntitled to declare the ` . .
<br /> . . � � � debt secured hemhy, due and, payable witbout notice. .und lhe Moctgagee shalt be entitled at iLs option, without notice, either by iL+elf ��''�
<br /> or`, by a r�ece�Yer tc Ke� epjlointtd bp the coust thereof, and-;without regard to: the adequacy oC �anq aecurity for� the indefitedneas se• �� � .
<br /> ' cufed here�y+; to �i�4e�rupon .8nd Ceke pbc�es.sion' of the � mortgaged ��premisea.' and � to colleM and `rnceive- thr rentF, iasuey and profi6 � �
<br /> � - � t}i'fereoi snd�apply t2ie-� eatne. ]ese cosla of operation and �collection, vpon the ' indebCednese secured � fiy �� thig .mOrtga�e.,;said.�,�ents;� : �
<br /> i�aes�`'a`� piti>'�ts being�hereby=seeigned 'fo thc'Mo�tgaR��as furtfier security for the -pnyment �of alf indebtedneas ser�trM Aereby ;
<br /> r . . . . . . . . . . . . . . , . . ., . . . . � ..
<br /> }
<br /> � � � The � Mortgagee� shal) have the power to appoint any egent or agenta it may desire for the purpoae of repairing said prem-
<br /> L""'" ieee: renting the eame;, eqllecti�g the reets, reXenues and income, and it may pay out of said income all expenses incurred in rent- c^
<br /> j ' � � ing� ��mmd managing the' same ana of collectmg the� rnntals ' theretrom: The balance remaining, if �any, shall 6e applied toward the : ,.�>'
<br /> ' 1 diacharge of the mp,}�tgege �ndebtedneaa.;:Thss aaeignmenl ie to terminate an�l becnmP nutl and void upon rrlese.p uf this mortRage, v, �, � .�.:�} �:;
<br /> ,. S , . - . . .�, .�c .:�.v . . �.,;. . . . . - . . , . . . . . . . . . . . � � .. . . . . . . _
<br /> - _. _ n .. r ...� . _ . . . . . . r., ,-
<br /> ':e.k..
<br /> ! , . . . � � ... . _ - . . � �w .
<br /> J
<br />
|