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<br />MORTGAGORS MAY MAKE PREPAYMENTS OF PRINCIPAL ON ANY INSTALLMENT ; DUE! DATE. SUCH PREPAYMENT SHALL BE
<br />APPLIED TO INSTALLMENTS LAST TO BECOME'DUE°UNDER THIS MORTGAGE. PROVIDED THE; UNDERSIGNED ARE °NOT .IN DEFAULT
<br />AND ARE THEN THE OWNERS OF THE MORTGAGED PROPERTY, UPON REQUEST OFj THE UNDERSIGNED, OR EITHER OF THEM,
<br />PAYEE AGREES TO FURNISH TO THE UNDERSIGNED 100% OF.SUCH PRINCIPAL PREPAYMENTS, -UNLESS ADVANCEMENT IS PRO-
<br />HIBITED BY THE REGULATIONS OF CHARTERING AND SUPERVISORY AUTHORITIES ;THEN: IN EFFECT. ALL SUCH ADVANCEMENTS
<br />SHALL BE SECURED';'BY THIS MORTGAGE IN THE SAME MANNER AND EFFECT "AS: IF NO (REPAYMENTS- HAD BEEN MADE.
<br />O O pI MOR'T'GAGOR FURTHER COVENANTS AND, AGREES:
<br />That the Mortgagor will, p:ry the indebtedness as hereinbefore provided. `' i
<br />That the Mortgagor is.the owner of said property in fee simple, and 11:11~ good night and lawful iuthorrty to. sell and
<br />convey the same and that the s,une is free and c1Gar of any lien or encurnbrance; and that Mortgagor will vv arrant. and defend the
<br />title to said premises against the claims of - all persons whomsciever.
<br />1'o pay immediately whctn due and payable all'general taxes special taxes! Special rucssmenis, hater charges, sewer serv-
<br />ice charges, and other taxes ,and 'charges against said pr•bperty, and all taxes levied! un the debt secured hereliy; find to furnish the
<br />I-Tortgagee, uporl request, with the original or duplicate receipts therefor. The ,ivliutgagor agrees that, there ,Shull be added to
<br />each monthly payment required Thereunder or midcr the evidence of debt secured Hereby ,in amount estimatrd'by the 1%4ortgagee
<br />to he sufl}cionf to enable the Nlortgagee to pay; as they become clue, all taxes, assessments. and similar charges'upon the prem -
<br />ices subject thereto; any deficiency because of the iinst,fliciency'of such additional li,ayments�shall be forthwith` deposited by the
<br />rl4ortgagor with the i\4ortga'gee upon demand ° by the Mortgagee. Any default under this h irngraph shall he deenuxl a default in
<br />paymentof taxes, asse,srrtents, or similar ch rg(:s required hereunder. i
<br />The Niort,a uor agrees that there sh ill also he added to oadt monthly payment: of principal and nnG rest regirired here-
<br />under an ainount estimated by the ivTortgagee to he'sufficient to enable the ' lortgag(ile to; pav, as it becomes :due, the insurance
<br />premium on any insurance pitlu,�° delivered to the..A'Iortgagee. Any deficiency hecausia of thi. insufliciency. of such: additional pay-
<br />nrents shall be Corth}vith rlepo !ted by the \Qortga'gitc vvifh the \Iortgagee upon dentatlrl by the bfortgagce. 1ny.,default under this
<br />paragraph shall he° deemed I default in the payment of insurance premiums. If thea 1poliev or policies depo itr d.'atv.such as home-
<br />own-ers or all risk police s, and the deposits are insufficient to pay the entire prem tim, the' Mortgagee may apply the deposit Jo
<br />pay premiums on risks required to be instired by this. mortgage.
<br />Pavilionts.ntade by tile�1%Tortgagor under tlrc above par;'"igraphs may, at thr� optirni of the Mortgagee; h(. field by it and
<br />commingled with other such funds or its own funds for the payment of such !isms, rand until:so applied, such pnymenfs are hereby
<br />pledged as eeurity.for the unpaid balance of the {mortgage indehteriness..
<br />To procure, deliver to, and maintain for this benefit of the Mortgagee during the life of this mortgage original policies and
<br />renewals thereof, delivered at least ten days befdre the -expiration of any such policies, insuring against. fire and other insurable
<br />hazards, casualt.ies;•and contingencies as. the' Nfortgagee,ntav require, in an amount equal to ,the indebtedness 'secured by this
<br />Mortgage, andin companies tueceptable to tiie Mortgagee, with loss payable clause;in favor'of and in form ncceplable. to !lie ;tlortga-
<br />gee. In the event any policy'; is not: renewed on t,r before ten clays of its expirationt.;the iAlorigagee may procajli6 insurance on the
<br />improvements, pay the prenti'um' therefor, and such sum shall become inunerliately due and l payable with interest at the rate .set
<br />firth in said note until paid ,:and Sha11 be secured by this mortgage. Failure on the part. of the ,Mortgagor to furnish'such renewals
<br />as are herein required or failure -to pay any sums iulvanved hereiutrler shall, at tile option' of; the Nlortgage &(institute a default
<br />under the terms of this nfortg'age, The delivery of - such policies shall, in the event; of!default, !constitute an ass'rt nment. of the un-
<br />earned premium;
<br />Any slims received by the \4orfgai ce bi •reason of los, or damage rnsuri d against may he retained :by the \lortgagee
<br />and applied toward the payment of the debt 1wreby secured, or, at the option hf�the }\lort},al,ee, such sums either wholly or in
<br />part may be paid over to illi! A4clrtgagor•to be used torepair such buildings or •tojljuihl nets buildings ill. tile ir place or for any
<br />other purpose or object satisfactory to the Mortgagee withodt affectingthe lien utt the ntorf age for the fall amount secured here-
<br />by before such giayment &ver took place. I
<br />'Fo promptly repair, restore or rebuild:ariy buildings or improvements no\%, or heie'after on the premises which may be-•
<br />come damaged or destroyed; ;to Beep said premises in good condition and repair anal (tee frorn any mechanics Jren.or nt}mr hc•n or
<br />claim of lien not°e.tpressly subordinated to the lien hereof; not to suffer or permit ::iriy' unbtvvfut use of or an),. nuitiance to exist on
<br />said property nor to permit. waste on aw
<br />said premises, nor to do any other let hereby the' pri)perty hereby conveyed shall become
<br />less valuable, n6r to diminish or impair its. value by any act or oni
<br />ission to let; to comply with fall requirements .:()f law with resliect
<br />to the mortgaged premises.°anti the use thereof.
<br />That should the prenlls" or any part thereof Ile taken or damaged by reason of any public improvement or. condemnation
<br />proceeding, orunder the right of eminent domain, or in any other manner, the Alortgagee shall. be, entitled to " compensations,
<br />awards, and :iny other payment, or relief therefor, and shall he entitled, at its optitln, jto commence, appear in aixl. prosecute in its
<br />own name any action or proceeding, or to make any compromise or settlement in, connectioh`wjth such taking qr damage: All such
<br />compensation, awards, damage s, !right of action and proceeds are Hereby assigner! i to the Mortgagee, who may,_'after deducting
<br />therefrom all its exlmnses, release any moneys so received by it or apply.the same on any •indebtedness secured h(;rohy.The N4ort-
<br />gagor agrees -to execute such further assignments:of any compensation, awards, damages, and rights of action and proceeds as the
<br />Mortgagee may require.
<br />That'in case of failure to perform any of the covenants herein, the ivIortpgee• may dei on the Mortgagors behalf everything
<br />so covenanted; that this 1\lortgagee may also do any act it may deem necessary to -protect the lien thereof; that' the;'Mortgagor will
<br />repay upon demand any rnonevs paid or disbursed by the Mortgagee for any of tic!above iml-poses, and such niinleys together with
<br />interest thereon at the rate provided in said note shall .become so much additionall indebteih ess hereby secured 'and may he, in-
<br />cluded in anv decree foreclosing -this mortgage :and be paid out of the. rents or, proceeds of ~ale of said premises'cif° not odien'vise
<br />paid; that it shall not be obligatory upon the b4prtgagee to inquire into the validity of any ;lien, encumbrances, -'or claim in ad-
<br />vancing moneys as.above authorized, but 'nothing herein contained shall be construed as recjuiring the illortgagee ti) advance ally'
<br />moneys for any such purpose )tor to do any act hereunder; and that. Mortgagee shall not incur any personal liabiliiy Because of any-
<br />thing it may do or omit to do hereunder.
<br />In the event of the defziolt by Mortgagor in the payment of any installn' ` 1 11as°required by the Note. secured hereby, Or
<br />in the performance of the obligation in this morn} :ige or'in the note secured thereby, the Mortgagee sh,ll be entitled•,to declare the
<br />debt secured hereliy flue and payable without notice, and the Xfortgagee shall be entitled at. its 61)tion, without. notice,.either by itself
<br />or by receiver to be appointed by the court thereof, and without regard to the adeq'uacy,of Tiny security for, the indebtedness Se-
<br />curedhereby, to enter upon and take possession`of the 'mortgaged premises, and to 'collect aitd1rec(mve.the rents, issues and profits
<br />thereof, and apply the same, 'less costs of olieration and collection, upon the inilebte(Iness secured by this mortgage; said rents,
<br />issues and profits being hereby assigned to the 141ortgagee as further security -for the pnvmcnt of all indebtedness secured hereby.',
<br />Mortgagee shall have the power to appointillyagent or agents it may desire for: the purpose of repairing said prem-
<br />ises; renting the same; collecting therents, revenues and income, and it may pay out, of said income all expenses incurred in rent-
<br />ing and managing the same and of collecting the, rentals therefrom. The balance remaining; if any, shall he.appliecLtoward the
<br />discharge of the mortgage indebtedness. This assignment is to terminate and (become null Anil void upon release of this mortgage.
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