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<br /> 78- U02935
<br /> . . r• rzr � r., � ` .r�4 e .7 - n • S .v. ^ � } : i. ' h . .CY�L .•�T�� • �. .:' 4 .
<br /> ; T�fE. MORTCAGOR FEiEtTE4ER. GO�ENAIJT9• �A'IJI7 �AGR?'�r,E�Y• �
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<br /> � � That Lhe Mortgagor wi t ,pay th,� indcbtedneea ss �hereinbefare pzwided. . _ � . �'�� �: � - � � �. � _ � �
<br /> � . s � _! � N3a^.�.l, : , - . . . .. , , , ,l; t � --C �
<br /> Tha! the �Mortgagpr �is' the� dwner of said property in [ee simple and hea good right and law[ul authority to seU and
<br /> � rnnvey� the setUej?g;1T�! Fh the aeme, ws 'free and clear of any lien orsA�S�fRl�rbnce�. atSd ',tMat?1VI'd9tgagor will warrant an�lF,d�jehc� ,Cl16 ) .�tyKiS �
<br /> - title to said ;preeniees' aq ins6`.:;the,�vlaima"of all; pereona`.whomsoever. . � � � . . �
<br /> 1 . ! � q � � . 1. � �. . , .. .. , .... . . .J.� �r .-,'i ' . . .
<br /> To gay&ilt�iE"dS�e1y �whe�7 `due and payable all general taxc3 speciel� �taxes, speciel assensmenLs, water charges, sewe'r sc�rv� ' ^
<br /> ice charges, and other ��taxes and rhargexi agninert w�,id psoperty�...uacl.all, ta�yc�y �levi�d on the debt secored hereby , and to furnish the . � �
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<br /> .Mortgagee, upo�nt �_;egu�st, �with t�e ��qri�inal 'or 'fiuj��i�a`te `recei{iYs�" therefor"fhe M1�rlgjgor agroes that there shallc•beisai�d`ed , l6h;.i ' ,i1'"5 ` � . .
<br /> : each monthly paym�tii�t +feqwr�'i%� 1��7eufi�er or under � ttie �evidencc o! debt secured hereby an amount estimated by the Mortgagee � � �
<br /> - !. . to Fe Rufficient''ato�'efiab►e the` Mortgagee� tn pay, ns they becnme due, ali taxes, assessments, nnd similar charges upon the: prem• ��.� � ;� ' < .
<br /> � ise5'subjEet Yheretn; " any defiCiency- because of the insufliciency of such additional papment. ahall be forthwith depoeiled by � thr � " � � . : .
<br /> Mortga�or with thr _ Mortge�ec upon fJemand by the b7urltiigce. Anv � ieJault under thiy parF�graph .hall Se decmrd � de(a Jt in � �
<br /> : �Iy'merr�i iSf taxE�s as�'essments, nr s�milar chasges nv�mred hereund�r ' - � ; _ � _ � � . � .
<br /> `. e.,tl ':' �i � .. '�'. , 1 : �'„t �-� �! � " . i . 1 : .'- . . . . -. _.� ' . . . ;. . - � . .. . . �. . : � . �. :.. .' : . . .. . .
<br /> '�� � The �Mort�agor agteef tbut t6qre qhall� �alxo ITe added Lo� rac)f r�tonthly payment uf principal and inter�•sl reqwred here- �
<br /> � under an amuunt iavtimnted by the� bfi�rtgagee to be sufBc�ent to en¢ble t.he Mortgage� to PaY. as it brcr�mex due, thf, insurance � . _ � .
<br /> - premium on any inaurance pulicy delivemd to the Mortgagee. Any deficiency ber.ausa ot t.he insufficiency of such addilional Pay - � . � � � .
<br /> � menta �cFia❑ be forthwitti depocited by the Mortgagor with thF• Mbrtgagee uFwn demand by the Mortgagee. Any de(ault under this .. �
<br /> paragraph shell be deemed a <irfanit in the payment. o[ in�urance premiumc. if the pedicy or policies depr>sited are wch a5 }x�me- � � �
<br /> � owaere or all risk policies, and thc deFx�sits are innufficient tu pay the enfirs� premiurn , thv MorlkaKe�• m:iy apply the dr�mstt lo � .
<br /> PaY Premiums t�n:;:zlsk� rCqtti_recl�toi.be .irilured ¢y, thi.y .mortKe�e; '..� ; . ; .. .- . . .� , . . , : . _i � . . ,. . . ,�. ,_ i . ..�. �, : . . . . .
<br /> �� Payments made by the Mnrt�ugor under the abovi• paragraphs may , a2 th�+ option oC the Mortgagee���F�e� {ieYA ' by it. and , �
<br /> . comminqled with othrr such funds nr its own funds for the Paymernt of such ifFrms, and unlil so npplied , such payment+ arr hrreAy
<br /> �. pledged av vecurity for the unpaid Fa)ance uf the mort�;a�v indebtedness. - � .
<br /> �� Ta procure, drliver to, and mainttiin for th� benefit uf the titorty;nqee durin{; th� life o! thic mortgage ariginat poli<rieti and - . ..
<br /> � renewals ther�+f, delivere�d at le•ast ten days befom the expiration of any �uch policie� . insuring aKainst fire and other insurable � � � ,
<br /> � hazarda, cesualtiea, and contingencies as the Mortgagee mny require, in an amount equal to the indebtedneay »crured by thie �� � � � : . ,
<br /> . Mortgage, and in rnmpanies acCeptable tn the Me�rtgagee, with loss payabl�� clause in (nvnr <�f and in fnrm acrnplahle to Ihe Mortga- : . � � - �
<br /> . gee. In the event any policy ie not ranewa-rl on ur trt+fnrF• Len daYs uf its i�xpiration. the Murtgng�•e may pr<x�ure insurance on the �,
<br /> improvements, paY tbe premi�m therefr,r, and such sum shall Imc:�m� imrnrdiatr-ly due and paynble with interest. at lhe rate set �
<br /> . [orth in said note until pnid and shall tw• securrd by this mortgaK�•� Failure un the part oC thr Vlortgagor lo fumieh �uch renvwals . � �
<br /> . as are herein requirrd ur failure to pxy any sumw advanc.�d hereunder vhall , at the option ot the :�lortgagee, conxtitute a default -� � �
<br /> under the terms ot thia mottgaga The delivery nf such pulicir� shall , in thF• rvrnt of defa�ilt , constitute nn assignmrnt o( fhr un- - � -
<br /> earned Premium. . . �
<br /> 1 Any sumn received hy che MurtKa�ec by reason o[ losx nr damage insured against may be retained by the Vt<�rtgaqee � � � . .
<br /> ' and appliecl toward the payment of the defit here•by �ecured. or, at [he option o( the Mortgagee, such sums either wholly or in . �
<br /> part may be paid over to thr MortgaKor to be used to r�pair such n��i�i���s or to build ' new buildings in thrir P�acr or for any � .
<br /> other purpose or object xatisfxctory ta the Murtgagee without aBectinK thr lien on the mortqaK� for the full amnunt aecured here- .
<br /> . by hefore snch payment ever took place. � � � � - �
<br /> � To p�omptly repair, restore ur rr,build any buildin�;s or impro��ements now ur he•rea(ter on the premisrs which may he- �
<br /> � come damaged or destroyed : to keep said premises in goad rnnditian and repnir and (rer from any mechanic's lien or other lien or
<br /> claim of lien not expzeswly sutMrdinated to the lien hrreoE: not to suRer or prrmit nny unlawful u9e ot or any nuisance to exist on , �
<br /> �, said pmperty nor to permit waxte� on seid premises, nor [o do any other act whereby thr property hereby rnnve,yed shal� become � � .
<br /> : lene valuable, nor to diminiah or impair its value by any act ar ��mis5ion to nct : t�> cnmplq with all requirfements uf law with respect �
<br /> to the mortRaged premises and the use thereof. � � � � .
<br /> � That should the premises or any part thereof be taken or damaged by reaxun of any public improvrmrnt or condemnation �: . � �
<br /> � � proeeeding. or under the right of eminFnt domain, or in any other manner. the A1ortgagee shall F.e entitled to a❑ compensatinns, . - � .
<br /> awards, and any other payment or relief therefur, and shall be entiUed. at ita optian, to commence. eppear in and praeecute 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 /> � � compeneation, ' awatda, � damaRee. riRht of action and proceeda are hereksy asaiKned to the Mortgagee, who � may, after �� deducting : '
<br /> . therntrom �all its ezpenaes. release any moneys so received bY it or apP�Y the same on any indebtednesa secured� hereby.The Mort- : �
<br /> � gagor Hgrees �to - execute . such .further assignmenb of any compensation, awarda. damnges, and rights of actiun and prceeeda as the , .
<br /> �- Mortgagee . may. require. . '� � � �
<br /> ' � That in caee of failure to perform any of ehr covenanta herein, tt�r MortRaKee may do on the Mortqagor's behalf everythinq � , � .
<br /> � eo �covenanted; thaL Lhe Mortgagee may also do any act it may deem nec��.cary ta� protect the lien thereoC; tha[ the lblortgagor wi❑ �. �
<br /> repey upon �demand any �moneys paid - or diabursed by the Mortgagec for any of the above pu�rpoves. and such moneys toqetFier with - .
<br /> � �� inteteet �fbereon �at � the rate provided in said note - ahall become so muci+ additionel indebte<inesa hereby erecured and may be im , . . .
<br /> � cluded in any decree [orectosinq this murtgage and be paid out o[ the rents or proceeds of aale of said premiars if not otherwixe � � �- � � � �
<br /> paid; that it ahall not be obligatory uyon the Mortgagee to inquire into the validity of any lien, encumbrances, or claim in ad- � .
<br /> � vancing moneys as above . authoriaed, but nothing herein contained shall be construeci as requiring the MortRagee to edvance any . .
<br /> . moneya. for any auch purpose nor W do eny aM hereunder; and that MoRgagee shall not incur any peraonal liability because of any-. . � .
<br /> ' thing�� it;may. do. or omit to do.�hereunder. . . . � � � �
<br /> ' �� �� In the event of the detault by . Murtgaqor in the payment of any instellment. as required by the Note secured hereby, or � � �
<br /> , � in the performance ot the obligation �in this �mortRage or in the note secured thereby, the MortgaRee shall be entiNed tn declam the �
<br /> � � � debt aecuced hereby .due and,.Wayable. w,ithout nutice, and .fhe biurtgagee shall be enGqed at its option, without notice, either by it,ae!(
<br /> oc.�1�y a,tec2ivgr to be ap�ointed by ttie��court, thereof, and :without regard to lhe adequacy of any Recurity for the indebtedneas ne- �
<br /> '. � ��r < . � � , . , _ _ _ . . . . . .
<br /> � • " cnred hereby, to en4.er upon and,take � pos§essSon oE the mbrtgaged premieesi and to milect and receive� the �rentn.� issues and profib � � .
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<br /> � pp lese coe7s�� of operation and �-��crollection. v/x�n the indebtrcinea.v �eecured I�y thix mortgage; � sa�d rnnts,��
<br /> ' . taissiYee end rO6�Cb'eing`fi re�by�`assiKned''Co the INortRAgee�as furtT�er. securily�for ihe �paYment o( all indebterinp2a•'securer}� he''etrq. ' �' . � •, '�,:� � �"1�
<br /> � � . The Mortgagee ahal! havr the power to appoint any agent or agentn it may � desire tor the purpose of repairing seid Prem- �� �
<br /> iaea; renting thg same 4tllIecting tha.. renta, revgnuea and income, and it, may pay_ out o! naid income all expenses incurred ,in renb � �
<br /> �'�� - ing and� �managing�.� Lhe saine ��and of eotlectin� the rentals lherelrom:� TR�e � balance remaining, � if any, shall be applied toward the s
<br /> .:, � �� di�cherge . o[ the mortgage �ndebtednens Th:s aseignment is !o terminate and become nult and void upon release o[ this mortgage.
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