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<br />THE MORTGAGOR FURTHER COVENANTS AND AGREES:.
<br />That the Mortgagor will pay the indebtedness as hereinbefore provided-_:
<br />That the Mortgagor is the owner of said property in fee simple and Lias good right aiid lawful authority to sell and '
<br />convey the same and that the same is free and clear, of any lien or encumbrance; ...ncd that Mortgagor will warianf.':md defend the
<br />title' to said premises against thelclaims of all ilersons whomsoever.
<br />To pay immediately when Flue and payable all general, taxes, special taxes, special assessments, water charges, "wcrr serv-
<br />ice charges, and other taxes and charges against said property, and all taxes levied on the debt secured hereby• ail! to furnish the.
<br />Mortgagee, upon request, with the original or duplicate receipts therefor: The Mortgagor agrees that. there shall be added to:
<br />each monthly payment required Itcreunder or under the.evidence of clebt secured hereby an amount estimated by the Pvlohgagev
<br />to he sufficient to enable the Mortgagee to pay, is they become due, all taxes, assessments• and similar charges upon the; prem
<br />ises subject thereto;. any deficiency because of the insufficiency of such additional payments shall be forthwith deposilerl by the;
<br />Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shall be deemed a default in•
<br />payment of taxes• assessments, or similar charges required hereunder. i
<br />The Mortgagor agrees that there shall also be adder] to each monthly payinent of principal and interest required here-'
<br />under am anwunt. estimated by tile't\lortgagee to he sufficient to (,liable the ISMortgagee to pay, as it becomes due• the insiurance
<br />premium on any insurance policy delivered to the Mortgagee. Any deficiency hecause of the• insufficiency of such additional pay
<br />merits shall be forthwith deposited,, by the Mortgagor with the Mortgagee 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 asi home
<br />owners or all risk policies, alai the deposits are insufficient to pay the entire premium, the \lortgagee may apply the deliosit. to.
<br />pay 'premiums on risks required tube insurer] by this mortgage.
<br />Payments.made by the \Mortgagor raider the above paragraphs may, at the option of tilt \Mortgagee, he held by lit. and
<br />commingled with other such funcls`�or its own funds for the payment of such items, and until so applied, such payments are hereby
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
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<br />To procure, deliver to, and maintain for the benefit of the Mortgagee during the life of this (mortgage ori;intl policies and.
<br />renewals thereof, delivered at least ten clays before the expiration of any such policies, insuring against. fire and other insurable,
<br />hazards, casualties, .anti contingencies as the ,\Mortgagee may require, in am amount equal to the- indebtedness secured 6y this
<br />Mortgage, and in cqmpanies acceptable to the R'tortgagee, with loss payable clause. in favor of tilt] in form acceptable to the Mortga-'
<br />gee. In the event ally policy is ncot renewed un or before ten clays of its expiration, the Mortgagee may procure insurance on the
<br />improvements, pay•ahe premium therefor, and such stEm shall become immediately due and payable with interest at filo nuo set
<br />forth in said note until paid and shall 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 sutras advanced hereunder shall, at the option of the Mortgagee, constitute a default; .
<br />under the terms of this mortgage. The delivery of such policies shall, in the event of default• constitute tri assignment of the un
<br />earned premium.'
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<br />Anv sutras receiver] by the Mortgagee h%, reason of doss or damage insured against may: he retained liy rho Mortgagee
<br />and applied toward the payment of the richt horei>y securer], or, ai. the option bf the i\-Iortgageo; such sono eithor wholly or in
<br />part may be paid over to the Mortgagor to he used to repair such buildings or. �ro build itew buildings in their•place or for any
<br />other purpose or 'object. satisfactory to the Mortgagee without affecting the lien on the mortgage for the full amount sec•ureil here-
<br />by before such pa}•merit ever took place.
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<br />To promptly repair, restore or rebuild any buildings or improvements now or hereafter on the premises which niay he
<br />come damaged or destroyed; to keep said premises in good condition and repair and fore from any* mechanic's lien or otherllien or
<br />claim of lien not expressly subordinatednuff
<br />to the lien hereof; riot to ser or permit any unlawful um
<br />se.of or my nuisance to e-ist on'
<br />said property nor to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shall Become :
<br />less valuable, nor to diminish or irnjmir its value by any act or onissibn to tet.; to comply with all requirements of law with Irespectj
<br />to.the mortgaged premises and the,uso thereof.
<br />That should the premises dor any' part thereof betaken or damaged by reason of any public improvement or condeninatirin`
<br />proceeding, or under the right of e'uninent domain, or in any other manner, the YMortgagee shall he entitle(l to all compentiationsJ
<br />awards, and any other payment orlrelief therefor, and shall be entitled, at its option, to commence• appear in and prosccut(j in its;
<br />own name any action or proceeding, or to make any compromise or settlement in connection with such taking or damage. -1ll such
<br />coin pensation, awards, damages, right of action and proceeds are hereby assigned to the !\Mortgagee, who may, after de(lucting'
<br />therefrom all its expenserelease <tm• moneys so received by it or apply the same on my indebte(huoss securer] hereby. The Mori -
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<br />gagor agrees to execute such further assignments of any compensation, awards, damages, :uul rights of action and 'prcceodsi as the'
<br />Mortgagee may require_
<br />That in case of failure togperform any of the covenants herein, the ivtortgagee may do oil the Mortgagor's behalf'evCry-
<br />thing so covenanted; that the Mortgagee may also do any act it may deem necessary to protect the lien thereof; that they Mort-
<br />gagor will repay upon demand any moneys paid or disbursed by the Mortgagee 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: and. that Mortgagree shall not incur any personal liability because'of anything it may do or omit to do hereunder.
<br />fn the eveirt of the (default by ivIortgagor.in. the payment of any installment• as required by the Note secured hereby. or
<br />in the performance of the obligation in this mortgage or in the note secured thereby', the Mortgagee shall be entitled to declare the
<br />debt secured hereby due and payable without notice; ancd the \lortgagee shall be entitled at, its option, without notice, either by itself
<br />or by a receiver to he appointed by the court thereof; and without regard to the adequacy of any security for the indebtedness W -
<br />cured hereby, to enter 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 operation and collection, upon the indebtedness secured by this mortgage; saidi rents,
<br />issues and profits being hereby assigned to the i\lortgagee as further security for the• payment of all indebtedness secured hereby.
<br />The Mortgagee shall, have the power to appoint any agent or agents it may desire for the purpose of repairing said! prem-
<br />ises; renting the same; collecting the rents, 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 be applied toward the
<br />discharge of the mortgage incdebteilness. This assignment is to terminate and become null and void upon release of this mortgage.
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<br />The Mortgagee may collect a "late charge" riotto exceed Five Cents (5c) for each dollar ($1.00) of each total Monthly
<br />payment more.-.ihan lfi days in arrears to cover the extra expense involved in handling delinquent accounts. j
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