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<br /> Mortgags�r covenant s that f t f s 1 awfv 1 1 y se i zed of the
<br /> Mortgaged Property; that it has authorlty to mortgage the same;
<br /> that the htartgaged Property is fr2e and clear of all itens and
<br /> encumbrances except as stated above; and that i� witl forever
<br /> warrant an� defend the title to t?�e Mortgaged Praperty agains� t:�e
<br /> 1a�fu1 claims of eil persons. exc�pt as stated abave.
<br /> ! . Debt. Mortgagar �tii p�nctually pay the princf�a; ,
<br /> i nterest, and a l i oth�r sums wh 6 c�r become due ureder the fVote, tf1 i s .
<br /> Mortgage or any other agreement =�curing the Nate. .. ,
<br /> 2. Taxes and Assessments. Martgagor shall pay �ach .
<br /> . installment of aii taxes and speciol assessments of ev�ry kie�d.
<br /> now or hereafter levied and assessed against thn �!ortgaged
<br /> Property, or any part thereof, before the same l��r.=r�me dei irequ�r.n�,
<br /> without notice or demand and shall deliver to Mor-�gaa�e�� cn or �
<br /> before the tenth clay preced i ng such de i inquency �te, is�"�t�er ,
<br /> r�celpts of such re�uired paym�nt=_. Mortgagor t�c�"11 aiso pay all '
<br /> tax�� (exc 1 ud f ng e=_t.�ate or i nco�ne �xes) or ass�wsments whi ch rtsay
<br /> be ievled upon the ?��rtga�ee's inte^est heretn a� upon this �
<br /> Mortgege ar the debt �?curc-�� hereby, wi�t�.��ut regard to any law � ,
<br /> that may t�e enacted in�o�fi�.� payment oP �.,e whole or any part -
<br /> thereof upon the Mortgagee. ,
<br /> 3. Insurance. Mortgdgor will keep the impravements
<br /> (exclu�iv� of foundations} fc►sured in an amount equal to the � "�
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<br /> actual cash value against loss by fire and extended coverage '
<br /> insurance. malicious mischief and vandalism and such other losses : .f��
<br /> ar t��pEards as may be spectfted b� Mortgagee. Such insurance shall --
<br /> ir� ali respects be satisfactory to Mortgagee and shall contain a
<br /> standa�d martgage clause in favor of Mortgagee and an e�rdorsement �}
<br /> requiring te� days notice prior to cancell�tton or sigv�i:ficpnt �:` ,
<br /> modificatt�n; polic�es of such insurance sha11 b� ei�tiv�red to �`� '
<br /> Mortgagee upon req�_��st. Al 1 proceeds of such insurance shal 1 be �� `::;�
<br /> pald over �n Mortgagee ta bQ applied. at the opt9on of ��e "��`�
<br /> Fior�ge�eE, �7�i�er to the �:c���ayr�ent of the Note, wi�hou� prernium, �
<br /> or t� the cost of any repa i r ar r�storat 1 on requ i recl because of .�''�`�
<br /> d����e or destruction to the Mor�.�aged Property.
<br /> 4. Tax and Insurance Escrow. If required by Mortgagee,
<br /> hlprtgagor witl pay to MorC�agee monthly, or periodicall;r, as
<br /> r��uired by Mortgagee. �n instailment of tihe taxes and assessments
<br /> Ievfed and �ssessed ar to be levied and assessed an the Mortqaged
<br /> Property, end an Installme�t of insurance premiu:Ts that will
<br /> become du� �nd payable ta r��new required insuranee, suct�c
<br /> inst�? '�rne.;�s to be in amc�:�t� sufFirient to accumulate �he sums
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