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<br /> TJEfE MOATGAGOR FURTHER COVENANIS AND AGREE3: i � t t � ; '.� �i ti ��- �` '
<br /> � _ . _:_ _
<br /> That the MortgaRor will pay the indebtedneas as hereinbefore provided.
<br /> , ThaY the 'Mortgsgor. is the� �dwner of ,s8id . property�� in . fee simple�;;and hes � good� right and : lawful � authosity . to -� sell ::and .� �
<br /> � convey the nartie 'and 'thal .the-.aanSC;;is;free �and�olear of Any lien or encvm6rsncet � and - that � Mortgagor wilt warrant � and defend thN� � , � �
<br /> title to seid premises againet� �the 'Claims o[ all persons whomsoever.
<br /> To pay- immediateky.;when due�'and 'payable �all general taxea, .tipecial taxes, specia! assessmentt+, water charges, sewer serv-
<br /> ice charges, and other taxes and �charges; againat �said property, and all taxes -leviE•d on the debt secured hereby,� and lo furniah the � .
<br /> � Mortgegee, �� upoia. request, with � the�� originat or duplicate receipts therefur. The Mortgagor aRrees that there shall be � added to - �
<br /> . each monthly payment rnquired hereunder or under the evidence of debt secared hereby an amount estirnatrd by the Mortgagee �
<br /> to be su6'icienb to enable the. Mortgagee to . pay, as they become due, all taxes. assessments, and similar charges upon the prnm• � �
<br /> ises subject� theceto; any de6ciency because o[ the . insufticiency of such additional paymenLv shall be forthwith deposited by the .
<br /> Mortgagor with thr � Mortgagee�.upon demand by the Mortgagee. Any default under this paragraph shall be deemed a de(ault' in
<br /> �- paymenf of taxes,� atisessmenfs, or simitar cRarges required 6errunder. � � � � � - � �
<br /> The��Mortgagor agrees �that there shall aLYo be added to each mmthly payment of principel end interext requircrl here-
<br /> � under an amount estimated by the Mortgagee to be sufRcient to enable the Mortqagee to pay, as it becomes due , the insurance
<br /> premium on any insurance policy delivered to the Mortgagee. Any � de5ciency because of � the inauficiency of auch additional pay- .
<br /> ments shall be forthwith deposited by the Mortgagor with the Mort6aR�e upon demand 6y the MortqaR�- Any default under this .
<br /> _ paragraph. shall be deemed a de[ault in the payment of insurance premiumx. I( the policy or policies deposited are such as Mime-
<br /> owaers or e!1 risk policies, and the deryicits arP ina�lf►'irirnt fn pay the �mtirr premium. the Mort¢a�ee may apP�Y the det�osit to
<br /> pay prnmiums on risks required to Ue insurecl by this mortRa�F. � �
<br /> � Payments made by the Mortgagor under the above paraRraphs may, at the option of the Mortgagee, be held ' by it and
<br /> � commingled with other such funds or its own funds (or the payment of such items, and until so applied, such payments are hereby
<br /> pledged as security for the unpaid balance of the mortga�e indebtednes.c.
<br /> To procure, deliver to, and maintain for the benefit of the MortgaBee during the life of this mortgaqe original policies and
<br /> renewala thereof, deliverrd at least ten days be[ore the expiration of any such �licies, insuring aRainst fire and uther insurable
<br /> hazards, cesualtien, and�� contingenciee se the Mortgagee may reqtire, in an amount equal to the indeb2ednene aecured by this
<br /> Mortgage, and in companies acceptable to the Mortgagee, with bss payable clause in favor of and in f��rm acceptable ta the Mortga- �
<br /> ppp Tp }F1P PVPpt ATV lM�1PV IR IIO} rVtIPWPl� !�p OT �MfII�P �Pfl f�AYC Of 1�11 PYn� �A}Jp�l. LIIP MO�SQA¢PP TAV tJ�fM1�rP I �1C11lAOOP !lp �hY
<br /> � improvements, pay the premium therefor, and yuch sum shall become immediately due and psyable with intereat at lhe rate set '.
<br /> forth in said note until paid and sha❑ be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewale �
<br /> aa are herein required or tailure to pay any sums advanced herrunder shall, at the option of the Mortqagee, constitule a default
<br /> under the terms of this mortgage. The delivery of xuch policiec shall , in the event of default, consNtutr an assiqnment o( the un• �
<br /> earned premium.
<br /> Any sums received by the Mortgagee by reason of loss or dumage insured against may be retained by the Mortgagee �
<br /> : and applied toward the payment of the debt hereby secured, or, at the option ot the Mortgegee, such sum� either wholly ur in
<br /> � part may be paid over to the Mortgagor to be used to repair such buildings or to build ' new buildinqs in their place or for any �
<br /> other purpoae or object satistactory to the MartRagee without aRectinK the lien on the mortgage for the Caill amount secured here-
<br /> � by hefore such payment ever took place.
<br /> . Tu promptly repair. reatore nr rebuild any buildinqc or improvements now ur hrreafter on the premiyes wbich may be-
<br /> : rnme damaged or destroyed : to keep said premises in good condition and repair and [ree from any mechanic's lien or uther lien or
<br /> claim of lien not expressly aubordinated to the lien hereot; not to suRer or �rmit any unlawful use of or any nuisance to exist on
<br /> � aaid property nor b permit waste on said premises, nor to do any othe. r act whereby the property hereby cnnveyed shall become .
<br /> lesa valuable, nor to diminish or impair its value by any act ar omission to act : to comply with all requirements u( law with respect
<br /> to tfie mortqaged premises anJ the use tbereof. .
<br /> That should the premi:ses or any part thereof be laken or damaged by rea�>n of any public improvrment or cundemnation
<br /> � proceeding, or under the riqht of eminent domain , or in any other manner, the Mortgagee shall !w entiUe�d to a❑ compensationa,
<br /> ��. awarda, and any other payment or relief therefor, and shall be entitled, at its option, to commence, appear in and Prosecu[e in ita
<br /> own name any aMion or proceeding, ur to make any wmpromise or setUement in connectiun with such taking ur damage. All such .
<br /> , compensation, awarda, damages, right of action and proceeds are hereby asaigned to the Mortgagee, who may. atter deducting
<br /> therefrom all ifs expenses, release any moneys so received by it or apply the same on anl' indebtedness secured hc:reby. Tbe Morb
<br /> - gagor a6reea to execute such fvrther assignments of any compensation, ewards, dameges. and right_c of nMion and � procevde aa the
<br /> ' � Mort6aRee� may require. . .
<br /> � � � That in case of tailure to perform any of the covenants herein. the Mortgagee may do on the Mortgxgor's behalf everything
<br /> so rnvenanted; that the Mort�agee may also do any aci it may drrm necr>sury lu praiect tEe lirn thereof, thai ihe btcrtgawcr v�ill
<br /> �, repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purpe»es, and such moneys toqetHer with
<br /> �. interent thereon at the rate provided in said note shall become so much additional indebtPdnesa hereby _secured and may F�e in•
<br /> cluded in � eny �decree foreclosing this mortgage and be paid out o [ the renfx or proceeds of nale of said premisec if not otherwise
<br /> paid; �that it shalt �not be obligatory upon the Mortgegee to inquire into the validity of any lien, encumbrences, or claim in ad-
<br /> vancing moneys as above authorized, but nothing herein contained shsll be construed as requiring the Mortqagre tu advance any
<br /> moneya for any such purpose nor to do any act hereunder: and that MortgaR�' ahall nol incur any persunaf liability hvcnuscr ot any-
<br /> thiag� it may do or umit to do hereunder. � � � �
<br /> In the event of the detau(t by Martgagor in the payment of any installmrnt , ae rrquiresi by thr Nale secured hereby. or
<br /> �in .the per(ormance� of�� the obligation in 4hia mortgage or in the note secured thereby, the Mortgagee shall br entitled li> declare the
<br /> � debt secured hereby due and payable without notice, and the Mortgagee ahall be entitled at its aption, without noticP. eilher by itaelt
<br /> . or by a receiver to be appuinted by the court thereof, and without regard to the adequacy ot any security for the indebtedneav se-
<br /> � eured�. hereby.. to enter. upon. and take. pos§ession� of . the mortgaged premisea, and to collect and receive thr n nts, issurs and pro6ts
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<br /> ; .thereo[, and apply. the same. lesa , coats o[. operation and rnllection. upon the indebtedness secured by this murlgagc; said . renb, �
<br /> � issues and profi�n beirig heieby assigned to ihe Mortgagee as further security Ior the payment of all indebt�dnasx secu red hereby. :
<br /> �� . . T6e Mortgagee shall �have the power to -appoint any•agent. or agents if� may denire tor the purpose oC repairing xaid prem-
<br /> �.. isos; renting the same: rnUecting the� renta, �venues and income, and it may pay out of ieaid inrnme ali �expenses incurred in rent-
<br /> . . ing and managing the eame and o[ cotlecting the rentals therefrom. The balance remaining, if any, shall br applied toward the
<br /> , dixharge of. the �� mortgage -indebtednesa.. Thia aspignment ie to terminate and become null and void upon release uf thic mortqage.
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