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THE MORTGAGOR FURTHER COVENANTS AND AGREES:
<br />That tho Mortgagor will pay the indebtedness as hereinbefore provider]:
<br />That thq Mortgagor, is the owner of shied; property in fee simple and • bas good right. and lawful authority to sell and
<br />convey the same ,ind that the same is free and clesm
<br />tr of tiny lien or encubrance;•and that Mortgagor will war.rainl. and defend the
<br />title to said •pn,ipiscs against the claims of all jtvrsons whomsoever.
<br />To pay .imnterliulely when due and ptiyahl,c all general taxes, special ('axes, special assessments, eater Charges, sewer serv-
<br />ice charges, and ,('ither taxes and charges against swirl property, and all taxes levied on the debt secured hereby;.and to furnish the
<br />Mortgagee, upon':requcst, with the original or duplicate receipts therefor. The*."Mortgagor agrees that there,.shall be added .to
<br />each monthly t)#ment required hereunder or under the evidence of debt seeurcd hereby in aniount estimated. by.the Mortgagee
<br />to I)(. sufficient 01'enable the Mortgagee to pay,,as they become clue, all taxey assessments, and ,hilar charges upon the prem-
<br />ises subject thereto; any deficiency because of the. insufficiency of such addition tl payments shall he forthwith deposited by the
<br />Mortgagor with the Mortgagee upon demand hu the i\Mortgagee. Any defaul6inder this paragraph shall he (]vented a default in
<br />payment of taxes, assessments, or similar charge, required hereunder.
<br />The Nlortgagor agrees that there shall also be added to each tnonthly jmvinent of principal and inleri•sf required here-'
<br />a
<br />under n aniount i-stimated' by the t\$ortgagee to be sufficient 10 enable the Mortgagee to pay, as it becomes clue, the insurantc
<br />premium on any insurance policy delivered to the•'Mortgagee. Any deficiency because of fhe insufficiency of such additional pay-
<br />menls shall he forthwith clepositecl by fit(- \Mortgagor with the i\4irrtgagee upon demand by the Mortgagee. Any default under this
<br />paragraph shall be deemed a default in the payment of insurance premiums. If the policy or policies deposited are'such a, bonti•-
<br />owners orallrisk_ policies, and the deposits are insufficient to pay the entire premium, the Mortgagee may apply the doposif to
<br />pay premiums onrisks•required to be insured by this mortgage.
<br />Payments made by the Mortgagor under the above paragraphs may, wit fhe option of the• t\4orfgagee. ;be hc•Irl by it and
<br />coriuningled with'bther such funds or its own funds for the payment of such iters• and until so apjtliecd, such prryntents are herpbv
<br />pledged as security for the unpaid balance of the mortgage indebtedness..
<br />To procure, deliver to, and maintain for the benefit of the AMortgagee during the life of this mortgage original policies and
<br />renewals thereof, {lelivered at least ten days before the expiration of any such {toficies; insuring. against fire and other insurablehazards, casualties; and contingencies as the \Mortgagee may require, in art antinnat equ;ul to the indebtedness secured by this
<br />Mortgage, and in-contpanies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the Mortga-
<br />gee. In the ovent.an•v policy is.not. renewer) on or before len clays of its expiration, the• \Mortgagee stay procure insurance on the
<br />imtSt•ovenients, pay the premium therefor, and such sum shill become, hunivdiately dile and payable wilh interest at the rate so 't
<br />forth in said note; until paid and shall by secured by this mortgage. Failure on ilieTart of lhu A'lortgagor to furnish such renewals
<br />as are herein recjttired or failure to pay ;in\' sums iidvanced hereunder shall, at. the option of the. i\Mort gagee, constitute it default
<br />under the terms of`•this mortgage. The delivery of such policies shall• in the ever t.'of default., constitute an assignru•nt of the tnt-
<br />varned premitun.
<br />Anyu
<br />snt".ti received by the i\Mh
<br />ortgagee w reason of loss or damage itisured against miiy he retained• by fit(,\Mortgagee
<br />and applied towa`rcf the payment of the debt lletpby secured, or• at the option;of the i\3ortgagee, such sums either wholly or in
<br />part. may he paiff• over to then Mortgagor to he used to repair such huildings or;•to build new buildings in their, place or For any
<br />other purpose 0t `objec•t satisfactory to the Mortgaj vo without afrecling fhe lieit;un tho.morfgage'for the full aniount securer) here
<br />by before such OaVment ever tools place.
<br />To promptly repair, restore or rebuild .iuiy buildings or improvenienfs .uow or hereafter un the pre:niises which nuav ho -
<br />comp daniaged or•rlestruyed: to keep said prernisos in good condition and repair. aud frog from ;uty mechanic's lii:n or other lien or
<br />claim of lien not expressly subordinated to the lien hereof; not to suffer or permit. {tny unlawful use of or any nuisance to exist on '
<br />said property nor. to permit waste• on said premisgs. nor to do any other -act w.lierebv the property hereby conveyed shall hpconu•
<br />less valuable, nor to diminish or impair its value by any act (or omission to ad: to comply will) all requirenienls .of law with rosppet
<br />to the mortgaged premises and the use thereof.
<br />That should the premises or any part thereof be taken or darnaged by reason of out}• public inaprovenlent or condentnalion
<br />proceeding, or under the right of ontinent domain; or in any other manner• the (Mortgagee shall he entitled to all corn Ito nsaIions,
<br />awards, and.auty other payment or relief therefor, and shall he entitled, at. its option, til:commence, appear in ,and prosecute in its
<br />own mune any action or proceeding• or to make' any compromise or settlement in connection with such, taking or damage. All such
<br />compensation, awards, damages. right of action aitcl proceeds aro hereby assigned to the i\Morlgagee, \N•ho may, after deducting
<br />therefrom all its expenses, release arty moneys so received by it of apply file saner on.aray- indebtedness securer] hereby. The Mort-
<br />gagor agrees to executy such Further assignments of any compensation. awards, damages. ;ctrl rights of action and priweeds as the
<br />;\Mortgagee may require. „
<br />That in case of Failure to perform any of the covenants herein, the M6rtgagee may do on the ;\Mortgagor's behalf every-
<br />thing so covenanted; that the Mortgagee may also do any act it may deem necessary to protect the lien thereof; that the 1Mort-
<br />gagor will repay upon demand. any moneys paid or disbursed by the AMortgagee-for any of the above purposes, and such moneys
<br />together with interest thereon at the rate provided in said note shall become so much additional indebtedness hereby secured and
<br />may be included .in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if not.
<br />otherwise paid: aur] that Mortgagee shall not incur any personal liability becau.sie of anything it may do or ornit to do hereunder.
<br />In the evt:nt of the default by Mortgagor in the payment of,any installment, as required' by the Mote secured hereby, or
<br />in the perfornt•.nace'of the obligation in this mortgage or in the note secured ther¢hy, the i\Mortgagee shall he entitled to declare thin
<br />debt securers hereby (file and payable without, notice; and the Mortgagee shall he,elititled at its option, without notice, either by itself
<br />or by a receiver tet be appointed by the court theredf, and without regard to the adequacy of any security for the indebtedovss se-
<br />cured hereby, to'
<br />sinter upon and take• possession of'the mortgaged premises, and to collect and receive the rents; issues and profits
<br />thereof, and apply' the same, less costs of operati(q and collection, upon the indebtedness securi•cd by this mortgage: said rents,
<br />issues and profits icing hereby assigned to the Mortgagee as further security. for (lie paivrnent of gill inrlehtedness secured hereby.
<br />'['he 10dr.t4agee shall have the power to appoint any agent or agents it. iiiay. desire for the purpose of repairing said prem-
<br />ises: renting the-saune; collecting fhe rents, revenues and income, and it may pav out of said income all expenses incurred in rent-
<br />ing and managing' the same and of collecting the rentals therefrom. The balmce .remaining, if any, shall he :applied toward the
<br />discharge oF fhe mrrrtgage indebtedness. This assignment is to terminate and }iecome null and void upon release of this mortgage.
<br />The Mortgagee may.colleet it "late charge;' not to exceed -Five Cents '( jc) fur each dollar (SL00) of each total monthly
<br />payment more thpn 15 days in arrears to cover the extra expense involved in tinrirdling clelinquont accounts.
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