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<br /> �8-- 003145 . .
<br /> T�fE MORTGAGOR FURTHEH COVENANT3 AND AGREES: � '
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<br /> ; .. . . .Thet the Mort6aBor��wil1 . . . t.:.. .._. . . . . . . . . . _ . . .. �. . . ..:. . �._. . . , . . . .
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<br /> ; .. pay the indebtedness aa herein6efore prwided. li ,� � � � � €} , t; �,�. `. . .
<br /> � � Tha� th�"�pr�k'�pgot'�ia the 6Wner dt` eaad propeely in te� '�umple ','add l�as;'goocl;,riBht and�:' taw[ul authority„ to�� aelt and' � � ,
<br /> � � cqnvey tha;p�7�fiaru��a},''� � ! �;f�ee 'and'cl�r of �a'8y Tien �o� 'encumtireince. ' a'nd� tfia'�' Mo4fgag8'e� will warrant arid 'defend thiF -'� � , .
<br /> ��� title to esi rem�ses a a� .. . , . , .
<br /> . Sl P q q�►t;�t�1'e� cla"tms of all persoru whrimsoever. .
<br /> . . � ; 9:Si,` S„ � ` ' ' � � . � ��
<br /> . � .. „�, 4r ✓ , .. _ • ' , �e . , ._ .. :. � , . . �: .. . . . - � . . .
<br /> � � � � Td pay'-immcdrSte�jia`�Sen^"tYna+�nd 'paysbl'e a1l gene�l 'tazes s,gc�cibk taxes,- apecial assesementa, water cha?gea, sewer serv=� � � � �
<br /> � iee chargea� and other ta:es"��eeges"ags�nat`5a%d,'propertx;'�and aik:taues-levied . on the� debt secured hereby. and to furnish ,4he .: <. � - � � �
<br /> . � � �. .Mortgagee.yuyolY:, tequ�at,`�.with':the,;.origine( 'or`-;duplicate � receipta,;�lhezefor:'� The��, Mortgagor . agrees that there sfiali be� 'added to � � ' . � . �
<br /> ., � � � each montFily payment required hereunder. or under the evidence of d¢bt secured hereby an ��amount estimated fiy the Mortgagee . , , , � � - � . � � "�
<br /> � � � to be suH'ieient tp•� enable the.: Mortgagee to.,�,pay, as �khey become �due; � all- taxes. assesaments, and similar chergea upon � tbe prem- ��� � � .� � �
<br /> - � paymen4' oF� eq�� �aseesemen�or sm�iTsi cha g 9 '�q �cienoy of . auch „additional ..paymenta. ahall . be . forthwith . . tlepoeit�d. . by the . �- �
<br /> . ieea aub ec�t� � � Y c�5� . . .
<br /> , � � . Mortgagor tl"ie'i�l'od��e�'up4m"tlernand b the Mortgagee.� Any �lefauti under this paragraph shall be deemed a .default m �:' , �
<br /> .._"_ .__ -'_ _ ��. :.ax.d.� ,.a...,. . ,..k . . .,. , . . . . . . .. . . . . . .. . _ . . .. _.. . .. . .. . _. . �-.: . . .
<br /> uired hereiinder.
<br /> � _ �• � � ' ' ' � ' � `The Mortksgor agrees" 'tha£ . there ahall also be .added to each monthly paymeet of. principal �and' �interes£ required here- � �� � .. �
<br /> � � � �-�� ��vnder an �amount eatimafed by the Mortgagee� to � be sufGcient to enable the Mortgagee � Eo pay, as it -becomes due, tfie . insurance . � � . �
<br /> � . premium:on :anyinaura+we policydetivered to. the 1Vlorfgagee. Any � deSciency becauae oL . the inau6iciency of . such�. edditionaG:pay-� � �. �� � �
<br /> � menfs shall be forthwith depasited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this � . .
<br /> � paragraph ,ahail be deemed a default in the payment ot insurance premiums. If the policy or pulicies dep�>sited arr such es hume- � � � � � �
<br /> � ownets or-� all riak� policies, snd the depoaits aFe insufficient to pay the entire premium, the Mortgagee may apply the ,depoait to. � � .
<br /> � pay premiums on risks required to be insured by this mortRage. � � � � � � � � � � � - � �` � �'" " . . �
<br /> Paymenfs made by the Murtqagor under the above paraqraphs may, at the option of the Mortgagee, be held ' by it and . � , � �
<br /> � commingled with other such [unds or iLa own funds for the payment of such items, and until so applied, such payments are hereby . � . � � �
<br /> pledged aa security (or the unpaid balance of the mortgage indebtedness. � ' . . � . � �
<br /> ' To procure, deliver to, and maintsin for the benefit of the Mortgagee during the lite of -fhis mortgage� original policies and � � . �
<br /> � � renewals thereo[, delivered at least ten days before the expiration of any such policies, insuring ageinst tire and other insurahle � . . '
<br /> . hszerde, caeusltiea, and contingencies as the Mortgagee may requirn, in an amount equal� W the� indebtedneae'� eecured by thie �
<br /> � � � � Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the Mortga- � � . � . . �
<br /> gee. In the event any policy is not renewed on or before ten days of its expiration, the Mortgagee may proc�re insurance on the � �� � �
<br /> .. improvements, pay the premium therefor, and auch sum shall become immediately due and payable with interest at [he rate set � �.
<br /> � forth in eaid note until paid and ahall be xecured by this mortgaRe. Failure on the pah of the Mortgagor to [urnish such rnnewale _ , . �
<br /> � as are herein nquired oz failure to pay any sums advanced hereunder shall, at the option of the Mortgagee, cwnatitute a default . � �
<br /> under the terms o[ this mortgage. The delivery vf such policies shall, in the event of default, constitute an assiRnment o[ the un- �
<br /> � - earned premitun. �
<br /> . Any suma received by the Mortgagee by reason of loas or damage insured against may be relained by the Mortqaqee . � � � :
<br /> - . and applied toward the payment of the debt hereby secured, or, at the option of the Morfgagee, such sums rither wholly ur in
<br /> � � � � part may be paid over to � the Mortgagor to be used to repair such buildings or to buiid ' new buildings in their place or for any � � - � �
<br /> .� � - other purpose or object satis[aclory to the Mortqagee without aftecting the lien on the mortgage for the full amount securecl here-
<br /> � . by betore� �uch payment rver took place. � .
<br /> � � � To prumptly repair, rnatore ur rebuild any buildings or improvements now ur herrafter on the premGnes which may �Ae- � � �
<br /> � � rnme damaged or deatroyed; to keep said premises in qood condition and repair and Iree from any mechanic's lien or other ��ien or . � .
<br /> claim of lien not espressly subordinated to [he lien hereof; not to suHer or permit any unlawtul use of ,or any noisance. to exist on . . � �
<br /> � . . aaid property nor to permit waste on naid premiaes, nor to do any othec act whereby the property hereby conveyed shall beeome � �
<br /> . - 1esa valuable, nor to diminish or impair its value by any act or omisaion to act ; to comply with all requirementa of law with respect . � . . � �
<br /> � to the mortgaged premises and the use thereof. ..
<br /> . � � That should the ptemiaes or any part thereof be taken or damaged by reaaon of any pubtic improvement or condemnation . �
<br /> proceeding, or under the right ot eminent domain, or in any other manner, the Iotortgagee shall be entitled to all rnmpensalions. � � � � � �
<br /> � � awarde, and �any othei payment or rnlief therefur, and shall be entitled, at ita option, to commence, appear in and prosecute in ita � � � � , � � � �
<br /> . i � � � � own�� neme any action or ptoceeding, ur tu make any compromise or settlemeni in connection with such takinq or damage. All such � � • . � : �
<br /> � - . � rnmpenaation, awards, damages, right of action and proceeds are hereby assigned to the Mortgagee, who �may. � after deducting � . � :
<br /> �.� � therefrom �all itn expenses„ release any moneya so received by it or apply the same un any indebtedness secured hereby. The Morb � � � �
<br /> gagor �ag�ees to� `execvte � auch ''fnrther hxsignmenfs of any compensation, awards: �damages,� and�� rights of � action and � nroceecls ss the
<br /> . ' � � , � � �� Mortgagee �'may�� reqvire. �� �. � . . . - . . . . � � � . . . . . � . � . , � .
<br /> . , � . That �n case of failure Yo perform any of. the covenantv herein, thr Mortgagee may do on t6e Mortgagois behalf everything � �. � � �
<br /> . � so covenanted: that the Mvrtgagee may also do any act it may deem necessary W protect the � lien thereof: that the Mortgagor will � . �
<br /> � � repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above pur�wses, and such moneys toget6er with � � . . . . .
<br /> . � ,interest, thereon at the rate, provided in said note shall become ao much additional indebtednexv hereby secured and may Ae in- � � � �
<br /> ;- �eTuded iri -any �decree foreclos"ing this �morlgage -and �'be paid � out of the � renffi or � prceeeds uf aale of � said� premises � if not� otherwise �': . � . � �
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<br /> 'pe�d; ' t7Yat' �it �shall' noY � be o6ligatory' upon the Moe�igagee to inquire into � the validity of any �lien, encumbrancee. or � claim� Fn� ad�- �. �
<br /> � � vancing moneys aa �above authorized, but nothing herein contained shall be construecl as requiring the � Mortgagee to �advance � any �. . �
<br /> � � moneys for any such purpoae nor to do any act hereunder; and that Mortgagee shall not incur any persunal liability because of any- � � � � �
<br /> �� �. thing it may do orom�t to do firreundec � � � � � � � � � � � ' � � � � . � � �
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<br /> , In the �: eVent- of � the :def,ault by Mortgagor�. in..the payment of any installment, as required by � the � Note� secured hereby. �or ''���. � : �
<br /> : : � . . ..: in�.thc�:performar�ce::of-�the� o6}igalion . in this.roortgage or i� the note .secured. thereby, . the Mortgagee shall be enUtlecl . ty declare the � . � � . . � :.:
<br /> � . debt becured hereby due and;payable without notice, and the Mortgagee shall be entitled at iL+ opGon, without notice, either by itaelf � , � � - � �
<br /> � . . � . or by a . receiver to be .appointed by the court thereof. and without regard to the adequacy of any security for the indebtrdnees se• , �
<br /> - � �cured�herebyr��to-entec� upon � and fake. poe9eision' of Lhe �mortgaged �premiaea, and � to coUect. and receive the .rents, iscuee� and profits � � �
<br /> • �� �� �;t ,heseof, pnc� appfy;_ the same,.lesa costs:.o[. operation and , collection. upon� the indebtedness a+ecured by this ; mortgage: � said .renb. � � . � . � `.
<br /> ,.ie�.,ue�s,atid;,praGb bg}n& }�erCbyV asaigned� to the Mortgagee as turther security;for the peyment of all indebtednesa secured hereby, �� � }
<br /> . .. .-v :�+::. , . x . . . . . , . . _ . .. . . . . . . . . .
<br /> ; :. . ., , : , , �. � �. . . $e . . . .. . . . . , . .
<br /> , ' . , ��e ` '^' '` 1''ha�` .�orE e76ee sh911 >}9ave� tFie �er-to `a mt en a'. . ; . . � . . • .
<br /> � �,` �� - � � ' � g ` pow ppo' y' ntoragents �t may 'desire �for � tbe purpoeeof repairieg said pretn- '" "" �� . '��
<br /> � � �� ieea; rentiag the .neme:� rnllecting the 'rnnts, revenues and income, and it may.'pay 'out ofi�aid inrnme� a/1�,expennes -incurred 'in. rent- � � ` 'i
<br /> z ing and managing the seme and o[ collecting the rentale there(rom. The balance remaining, if any. shall be applied toward the . . ;'�°< � �
<br /> � ,� discharse �ot the mo;igage, iindeb[edness. This. esei8nment. ie to� tetminate and become null and void upon relea»e of this .mortqaRe. . � -:
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