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<br /> �s-- 002936
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<br /> T.KE MOR7�(3k(�dR ''F'[FR'I'fI81`ti CO�ENANTS i4lt1D .AGREE9: . •: ' ` , ! . • - .:.:, . • -'. •
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<br /> � . That.t¢c 1VIortgagor �1 thR indebtedneas es� h¢reinbefore prwided. � � � � , � �
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<br /> . . . . Thap the ''Mor'tgagor �R=the Owiirr of said property in fee simple � and hae good right and lawful authority to sell and� � '� ' � �� � � �
<br /> � � rnnvey the sa�p(,��5{1{;��g��,he e8m�e in f�ee and_.clear of any. lien ot �gOc4t*ibiancc;, aHt�'Xh�t^,;MdrtgaR�r will warrant and dgf.ebd the�, " ; : �
<br /> . . . .title to eaid 'premixe` aRa�nat �;tl�e etgims.. o[� al! :/iecao� �wfiqmsoever. . � . � � � �
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<br /> � � To pay}S7�i1�SL�d�et�ly�whe� due Rnd payable all general" taxes, special taxeiv, special aa�sments, water charges, sewer� �erv � } "� � �
<br /> ice cherges, and other �taxes and chsrges against :wid pruperly , and nll taxes levi.•d on the debt secured KF`reliy;` ad�l to �furni'�a thg-"z`� �� . � � � � �
<br /> Mortgegee, uponF�@q�(e,�at� �.with �;3$a orisil�at •p'r .dUpJicate z�,�eipts ('th�ekfor. Thr :�ottg�r aRr�•+ t}iat there s}iall be adde�l to �. �
<br /> each monthly psyment rnyuired hereunder nr � under � the evidence of �ebt secured hereby an amount estimated by the Mortgager � - .
<br /> . ' to be suHicieret to enabCe the ' Mortgegee � to pay, as lhey become due, ail taxes, ansessments. and similar charges vpon � Ihp prem- -. , . � � �
<br /> �� . Sses ��subject' thereto; any `deficiency lieeause of the invutiiciency uf such addit.ional payments shall be forthwith deposited �� by th� � � . �� ��� �
<br /> . ( M�r�$ug4r �yith thr� jKorlgagee upop- demand by the Morlgngee. A y, def:�ull undrr thjs paragraph sha❑ ba: dremE•d a defa�alt in � . . �
<br /> , p�mewt p�.f�xes a�aessments. ,�� similHr cha.rRey..requirec] �herrunrJ�f ' . , ' " ' . .� , . . . , i. L . .
<br /> . 4 ., .. t The Mortga�;or agreos � th�t therE shall al.o he added tu ench munthly � p�yment oF� principat anr3 inter��st rnqnited here- ` ��� � : . . .
<br /> � vnder an amount cstimatrd by the Murtgugee to be sufficient to enable Lh�� Mort�ag�e tn pny , as it becomes duc , the � insurancr �� � � . �
<br /> , premium on any, insurance �wlicy delivered to the Mortgafie�+� �'��Y deficiency tmcause uf [he in.ufi'iciency of such additional pay- - � . �
<br /> '� ments shatl � tSe fnrthwith deposited by the Mortqagor with the Mortgagee upon dFm.�nd by th� Mortgagee. Any default under this � �� � � '
<br /> � � paragraph Yhall be deemed a default in the paymertt of invurance premiume. If the �mlicy nr pc�licies - deposiled arr such as tn�me- � �
<br /> - owners or alI risk policies, and the depoxit+ ere insutficient to pay the entin� prrmium , thc hlortgagee ma,y ap��ly the tiep�icit tn � . . . � � � � �
<br /> � pay premiums on ri�ks ,reqyirP�l ,tp, be_insurad. f;y thic moStgNgr. � . �. . �
<br /> . y .. .. . :. � . � � .� , K. K � , . ! . . . _. . Parag . . . . . .: � . . � . � � ;_ � -, . . �� : . : . '.. .
<br /> Pa mente [pad� � � the,� ort a orvnder .Qhe. akfove rnphs may�, nt- the qphon.�of� ,the Mort6$g�'�P he�d � hy it and � . �
<br /> . commingled with other xuch funds or ils own CunAs for the pnyment of such itvms, and unti! so applird, such payments are hrrrby � . � �
<br /> plfxJged ac security (or thc unpaid balunce nf the mortgage indebtrdness �
<br /> . .�;:,; r '!Co:;prctciirs:'deliv,er to, -apd ma{ntain joc'- tpe ;.lxrnr.fit oCtfi�e Vtortgagee� �d��ring the life oJ, i�hia mt�ctgapBLriginal policies and � � � .
<br /> renewals thereof, delivered at laast ten days. beJore the expiration u[ s�ny� yuch. �Mlicies, � 'rnsuring. egainst Fire,�and uthrr uisurahle � � � �
<br /> -�. hazards, casualties, and rnntingencies as - the Iulortgngee mnp rrquiie, in � ari - amount equnl to the � indebtedness secured by thin �� � � �� .� ; �'-
<br /> � Mortgage, and in companies acceptable to the Mortgngee, with lovs payable dause in favnr uf and i � form accept.able to the Mortqa- . � � .
<br /> . gee. In the event any policy is not renewcvl un or tiefore ten days of iLc expiration. the MurtRagea may ��rceure insurance on the , � � . . .�
<br /> . improvements, pay the Vremium there(or, and such sum shall becnme immediatedy due and F>3Y3h��• �+'ith inl�•r.•at at the ratE- set � � � � �� ,
<br /> � forth in said note until paid end shall br �ecur��d by this morigaKt'. Failure on the part of the Mortgagor to (urnish such renrwals � � . , . �
<br /> � � as are herein required or (ailure to pay any soms ndvunced hereunder shall, at thv option of [he MnrtgaKPe. cu�stitutF a Je(nult .
<br /> under the terms o! tbis mortgage. The delivery of such pulicie. shaU, in the event o( dE�fault. constitute an asciKnmrnt of the un- �.
<br /> � earned premium. � � � .
<br /> Any sums received by the Mortgagee by reaaun of Inss ur damage insured against may be retained by the Murtgaqee . � �
<br /> and applied toward tha payment uf the debt hemby sercured, or, at the option o( the Murtgagee, such sums rithrr wholly ur in ��. . � � .
<br /> � part may be paid over to !he MortgaKor to be used to repair auch buildinRs or tn build ' new buildings in their place• or for any � � - �
<br /> other purpose or object satiafactory to the Murtgagee withuut afTecting the lien on the morlR88e f�r the (ull amount ..e�cumd here. � � � � . �
<br /> by beture nuch payment ever tuok place. - � � �� . . � �� '
<br /> � To prumptly repair, restore or rebuild any fiuildings or improvemenL+ now ur hrrea(trr on the premises which may be- . � � -
<br /> come damaged or destroyetl : to keep xaid premises in good condition and repair and (ree from any mechanic'x lien ur other lien or � � �
<br /> ' clnim of lien not expressly subordinated to the lien hereo[; not to sufier or �mrmit any unlawful use of or any nuisance to exist on . � - . . . .
<br /> � eaid property nor to permil waste on said premises, nor to do any other act whereby the property hereby conveyed shall k�rcome � � �
<br /> leea valuable, nor to diminish or impair iLs value by any act or omisvion lu act ; tn comply with aI! reyuirrmenta of law with respec! - � . � �
<br /> to Che mortqaged premises and the use thereoL � � � .
<br /> � That should the premises or any part thereof be taken or damaged by reawn of any public improvrment or condemnation - � ��
<br /> : proceeding. or under the right uf eminent domain, or in any other mannrr, the htortgagee shall bc� entided to a❑ compensat.ion.¢, . �
<br /> � � awards, and any other payment or rnlief therefor. and shalt be entitled, at its option, to commence, appear in and pronecute � in i4� � � . - �
<br /> own name any aMion or prOceeding, or to make any cumpromise or settlement in connrction with such takinR or damage. All yuch . �
<br /> , compensation. �awarda, � damagea, right of �. action and proceeda are hereby assigned to the Mortga�;ee. who may, after �. deducting . � � �.
<br /> � � therefrom � alt ita.� expenaes, releaae. any moneys �so teeeived by it or apply the same un any indebtedness securrd hereby.. The Morb . . � �
<br /> � � gagor-ag+eea , to execvte sach tucther �atssignmentn� of . any compenesation, awarda, damages, and rights of actiun and proceeds as the � � - - �
<br /> � Mortga�cee may require.. _ , . � . .
<br /> . That in case of failure to pertorm any o[ thr covenants herein, the Mortgagee may do on the MortFagnr's hehalf every [hinq - . � � � � �
<br /> � so covenented; that the Mortgagee may also do any act it may deem necessary to protect the lien thereo[: that the MortgaRor will . � � � � .
<br /> � � repny upon � demand any moneys � paid or diabursed by the Mortgagee for any of the above purpcxaes, and such moneys togetRer with � ;� �. � �
<br /> interest thereon at the � rste provided . in said note ehall become so much additional indebtcdnesn hereby securc�i end may be in• . . �
<br /> . cluded in any decree toreclosing this mortgage and be paid uut of the rents or proceeds of ssele of Baid premises if not otherwiee � � :, � � . � .
<br /> . paid: that it ahall not be obligatory u{wn the Mortgagee to inquire into the validity of any lien, encumbrances, or claim in ad• � � . � �
<br /> . vancing mnneys aa above authorized, but nothing herein contained shall be cone�trued. as reqairing the Mortgagee tu advance any '�- � :
<br /> � � moneya �for.any '� such purpoee .nor to � do any aM. hereundez; and that Mortgagee shall not incur any pemunal liability i�ecause of any- �
<br /> : thin[ it�� may. da� or. omit- todo �hereunder. . . . _Y, �
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<br /> � � � In the event of the default. by Mortgagor in the payment of any inetallment, as requimd by the Note secured hereby. or � � �
<br /> �� � � � in the performanee of the obliRation in thia �mortgaRe or ia the note secured thereby, the Mortgagee shell F+e rntitlrci to declare the � � .
<br /> . . �. � debt.aeAcured hereby,.due ..and .payable,. without notice. and, the Mortgagee shall be entitled at its opt�on, without noLce, either by iLvelt
<br /> } .. or..by a reCeiver 'to br-appuinted �. byrthe couR tHenwf, and without regard to the adequaey of any � security �for the indebtednesF ne- j .
<br /> � �� curEd fic�reby;� �o 'enter- ilpon and 'take poa9edsiori of the mortgaged� premiaee, and to cotlect and � receive the � renic, iseuess and profib�' : � � �
<br /> „ , � l�ereoE and� apply tl�e;:�aine: .tesn coets o[ operdtion end colleetion, upon the ` indebtr.dnese securc:d� fiy this mortgage, said �� renta, � � :�
<br /> : � " ieeves"'ai�d p�oAfs bein}� hereby�aseigiie.d' to��fh'e l�tortgagee a» �further sectirity� for the �payment � of afl indebtavirie§s atruie�l heteliy.' '' -
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<br /> � The Mort a ee shall have the ower to a int an a ent or a ents it ma desire for the pur oae of re airin said � � � � � ` "
<br /> : . - . B 8 P PPo Y B 8 Y P P B Prem• .. ;; `w�}
<br /> 'L �;_.�� iaes:� �renting the eame; , rnllecting the renta, mvenuea � and iacome, and it may pay out of said inrnme all expensea incurred .in rent- " �' �a
<br /> ' ' �- `ing . -�nd managiag ��the � eame� and of "collecting'`the reritals� �therefrom. �The � hslance remaining, it any. sha7l be applied toward the '+� '°�
<br /> ' � � �diecharge ot the mortgage mdebtedoeea. Th�s aseignment is to terminate and become null and void upon release ot this mortgaRe. : �j!y"r
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