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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 THEAMORTGAGED PROPERTY, UPON REQUEST OF;• 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 ANIj'.EFFECT AS.IF. NO PREPAYMENTS HAD BEEN MADE.
<br />THE MORTGAGOR' FURTHER COVENANTS, AND AGREES:
<br />That the NIortga„or will lin); the indebtedness as hereinbefore provided j
<br />That the A4ortl al or is the owner of said property in fee simple anti has good right anti, lawful authority to sell and
<br />convev the same and- that the 'same, i5; free and clear of any lien or •encumbrance , anr� !that Mcirt at of will warrant.' aiuf defend the
<br />title to said premises againsCC the cL•}ims of all persons whomsoever.
<br />To pay immediately %alien .d -.tie and payable all general taxes, special taxes; special assessmepts, water cliiiges,,sewer serv-
<br />ice ;charges, and other taxes and chaeges against saidproperty, anti all taxes levied oil the debt secured hereby;.and to furnish the
<br />AMorigagee, upon request, wit,) the-. d}riginal or duplicate receipts therefor. The A•lo) tgagor agrees+that there shall he'added to
<br />each monthly payment required herc uncder or under'.the evidence of debt secured lierebv an amount estimated by the Mortgagee
<br />to be sufficient to enable the' Alortgpgee to pay, as. they become dlite, all ,taxes 15Gensments; and similar charg",upon the prem-
<br />ices subject. thereto; ariv deficiency 'b(-cause of the itjsufficiency of 'such additional :pad me its ;shall Be forthwith. deposited by the
<br />Alcirtgagor with the A(ortgagce utio n demand by the Mortgagee.' Any default un<Ic°r,this pitoagraph shall he deemed ;a default in
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<br />payment of taxes• asses;meniti, or -,similar charges required hereunder. ?!
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<br />'Phe Mortgagor agrees th�it there shall also be added to. each monthly Ilavhent of,p,ancilsal and interest required her
<br />undler'an amount estimated by the' Al:ortgagee to be Sufficient to enable the. N,Iortg igt,t to p:ij as. it becomes duo, •the insurance
<br />premium on any insurance. policy delivered to the_'Mortgagee. Any. deficiency because; oC the. ,nsufli iency of such. additional pay-
<br />ments shall be forthwith deposited by the Mortgagor with the Mortgagee upon dem; iiid by do,e Alorigagee. Any default under this
<br />par,agrap}n shall he deenned a jdefault, in the payment of-insurance premiums. If the lliohcn or; policies deposited are such as home-
<br />owners or all risk policies, and the'deposits are insufficient. to pay the entire preniiniin the.;Mortgagee may apply the deposit to'
<br />pay Premiums on risks'requirM to, boo insured by this mortgage: e
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<br />Payments made by the �Modgagor under the above paragraphs may, at th 'oplion sof the Mortgagee be, held by it anti
<br />commingled with other such funds or, its own funds for the payment of such items, ,roil tint 11 applied, such payments are hereby
<br />pledged as security for the ui'ip id,halance of the mortgage indebtedness. I 1
<br />To procure, deliver to, and 'maintain for the benefit of the Mortgagee during'the lef6> of this mortgage ore •inal.policies and
<br />renewals thereof, delivered at least. ten days before the expiration, of any such policies unsniring against. fire anti' Miter insurable
<br />hazards, casualties, and contingencies as the Mortgagee nnay require, in ami arrear `equal (ii the indebtedness secured by this
<br />Mortgage• and in companies :iccepiable to the Mortgagee, with lost; payable clause en�favor of 'a in corm acceptable to the Meirtga-
<br />gee. In the event any. policy 7s not renewed on or before tell days of its expiration,j the Mort`„'agee;may procure insurance oil the
<br />improvements, pav the prenninrn therefor, and such-sum shall become immediately duce and'j)wattle with interest: at the rate set
<br />forth in said note until paid and shall be secured by this morlgage.;T'ailure on the: 1i.irt of;the Mortgagor to fur s}sh such renewals
<br />as are herein required or failure to, pay any sums advanced hereunder shall, at the pption jot; the Mortgagee, constitute a default
<br />under the terms of this mortgal,e I'he delivery of such policies shall; in the event, of default .constilute an assignment of the un
<br />carried premium.
<br />Any sums received by thc�'Alortgagee by -reason of loss: or damage insnng( ngainst,may the retained by fire Mortgage{e
<br />anti applied toward the payment of the debt. hereby secured, or, at the option of the: i1.l,ort� ngee„such sums either wholly or in
<br />part may be paid over to the' Mortgagor to be used to repair such,,buildings or tri hpild ne i, buildings in their, place or for any
<br />other purpose or object satisfactory' to the Mortgagee without. affecting the lien on the snort{ nge for the full ,)mount secured here-
<br />bv' before such 'payment ever tool: place. j I
<br />To promptly; rep ir,'Jestiirt! or rebuild any'b6ildings or improvements no)v or hereafter ;'n the premisu.s which may be-
<br />come damaged or destroyed; to keep said premises 'in good conditidli and repair and'*free from any' )echanic's he n 'or other.lien'6r
<br />el -.inn of lien-not.expressly su}iordiiia'led to the lien hereof; not. to Suffer or permit 'inji [nilaivful rise of or any nwsai)ec to exist cin '
<br />said property nor to permit %taste; ern said premises,. nor to do army other. act whe,;4), the property) hereby conveyed• shall become
<br />less valuable, nor to diminish or iml),;ir its value by any act or omission to act; to 6t q fly wittij ill `.retluirements of �laW. with respect
<br />to the mortgaged premise s and the use thereof.
<br />That. should the. premises.or any part thereof be taken or.(lamaged'by reason of any public improvemcnifor ctmdemnatipin
<br />proceeding, or under the right of enlinent. domain, or in any other manner, the 'Mortgagee, sha11 ;lie entitled to all coinpGnsations,
<br />awards, and any other payment or'relief therefor, and shall be entitled, at its option; ,to comrnenCe, appear in aril prosecute in its
<br />own name any actio-. or proceeding, or to make any compromise cit settlement in c4)tunectioit with such taking or;d,image: All ueh
<br />compensation, awards, damages, right. of action aul proceeds are hereby assigned';ti> the' itlartgagee, who may; after deducting
<br />therefrom all its expenses, release',any moneys so received by it or apply the same oin,any indebtedness secured-IiiMort-
<br />gagor agree's to execute such ,furthet• assignments of any compensation, awards• dafn�age s, axil` rights of action amid liroceeds as the
<br />Mortgagee may require.
<br />That. in case of failure to pdrfornn any of the covenants herein, the tAlort{ gee may: do on the Mortgagor 5 behalf everything
<br />so covenanted; that the Nlortgagee'nnay also do any act it may deem necessary to'protect the'}ien thereof; that the Mhrtgagor will
<br />repay upon demand any moneys paid or disbursed liv the Mortgagee for any of the above lnirposes; and such moneys' together \v1Un
<br />interest thereon at the rate provided in said note'shall become set much additional lipdebteilness liereby secured; aryl may be in-
<br />chided in anv decree foreclosing this; mortgage and he paid out of the rents or proceeds of sale'of said prerneses if not otherwise
<br />paid; that it shall not he obligatory upon the Mortgagee to inquire into the validit'y'; of any lien; encumbrances: or. claim in ad-
<br />vancing moneys as above authori ed, but nothing herein container) shall be construed as regiiiring ;the Mortgagee to .advance any
<br />moneys for any such purpose nor to do any act hereunder; and that Mortgagee Shall, not incus any liersonal liability because of any-
<br />thing it ma'y do or omit to dlo heretultler.
<br />In the event of the defnult,by Mortgagor in the payment of any installmentl as rcq'u)red by this Note secured hereby, or
<br />ui°ahe performance of the obligatuin in this mortgage or in the note secured there.by,1t,he 'Mork agee shall he entitled) to declare the
<br />debt secured hereby clue and pay,il4e without notice; and the Mortgagee shall be entitled at its optioin, without notice, either by itself
<br />or by a receiver to be appointed by the court thereof, and without regard to the adepbacy of`,iny security for the. indebtedness se
<br />ctired, hereby. to enter upon and take possession of the mortgage:il premises, and fii collect and recNvL the rents, issues and profits
<br />thereof, *and apply the same, less costs of operation and collectiop) upon the indehiedness smeared by this mortgage; said rents,
<br />,clues and profits.being hereby assigned to the Mortgagee as further security for the. payment cif'all indebtedness secured hereby.
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<br />The Mortgagee shall h rvu the power to appoint any agenit.,or agents it may desire f6r.the; imrpose of repair rig said prehi-
<br />ises; renting the same; collecting'.the rents, revenues and income-. and it may pay -.nit of said income all.expenses;rnciirred in rent
<br />irig and managing the same and 'of collecting the rentals therefrom. The'balanee remaining,'if ,any, shall be ipp ied toward the
<br />discharge of the mortgage hidebtedness. This assignment is to terminate and lx.t;orme null and "•oill upon-release-6f this mortgage. .
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