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<br />MORTGAGORS.- dAY'-IYAKE PREPAYMENTS OF PRINCIPAL ON- ANY INSTALLMENT' DUE DATE. SUCH PREPAYMENT SHALL 13E
<br />APPLIED TO INSTALLMENTS LAST TO BECOME DUE UNDER TH15 MORTGAGE. PROVIDED THE UNDERSIGNED ARE: NOT N DEFAULT
<br />AND ARE THEN THE OWNERS OF THE MORTGAGED PROPERTY, UPON REQUEST OF THE UNDERSIGNED, OR ItITHER 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 PREPAYMENTS. HAD BEEN MADE.
<br />THE MORTGAGOR FURTHER COVENANTS AND AGREES:.
<br />Tbat the Nlortgagor will, pay the indebtedness as hereinbefore provided.
<br />q rhat, tile' Mortgagor is the owner of said property in fee simple and I , i as good right and laWful,auffiority to sell and
<br />convev the same and that the same is free and clear of any lien or encumbrance; and that Nlortgagor will Warrant and defend the
<br />title to said premises against. the claims of all persons whomsoever.
<br />To pay immediately %%,lien (file and payable all general taxes, spccial taxes, special ass6s-sments. water charges, sewer serv-
<br />ice charges, and 'other taxes and charL"*against said propertY, and all taxes levied oil the debt ' secured hereby.:and to furnish tile
<br />Mortgageo, upon request. with the original or duplicate receipts therefor. The Mortgagor agre" that there'shall be added to
<br />each monthly payment required hereunder or under the cvid�mce of debt secured herelly in amount estimated hy file Mortgagee
<br />to be sufficient to enable tile Mortgagee to pay. as they become (file, all taxes. assessments, and similar charg ' es upon the prem-
<br />ises Sill) c I A! )) it -
<br />ject thereto; any dericielic.N because of the insufficiency of such additional payments A i iall 1w forthwiti ((I.( s ed I)v the
<br />Mortgagor with the Mortgagee upon deniand bN the Mortgagee. Ali ' y default -under this paragraph ;hall he d.(emed a default in
<br />payrnent, of taxes, assessinents. or similar charge.� required hereunder.
<br />The Mortgagor ag,�,ees . that there shall al.,;o be added to each monthly payment of principal afid intere
<br />.st required here-
<br />under ail aniount. estimated bY the INIortgagee to he sufficient to enable the Nfortgagee to pay,�as it becomes due. the insurance
<br />y -
<br />premium oil any insurance policy delivered to tile N1 -cc. Any deficiency because of the insufficiency of such additional Ila
<br />ments shall be forthwith deposited by the Mortgagor with Ill(, Mortgagee upon demalid by the Mortgagee. Allyidefault under this
<br />paragraph shall.he deenied a default in the payment of insurance premiums. Ifthe policY or such as honic-
<br />owners or all risk policies, and the depos�its are insufficient. to pay the entire premium, the ivlortgagee may apply.the deposit to
<br />pay premiums oil risks required to be insured by this mortgage.-
<br />IlavIllpiltS Illa(le by tile j%fortgagor under the above paragraphs may. at the option of the %Iortgagee,!be ' held by i I A n (I
<br />comillingled with other such full(],; or its own funds for the payment of such items, and until so applied, such paynu.�nts are herebN
<br />pledged as security for the impaid balance of the mortgage indebtedness.
<br />To procure, deliver to, in(] maintain for file benefit of tile N'fortgaget, during the life of' this mortgage 6riginal policies and
<br />renewals thereof, delivered at least tell days before the expiration of illy such policies. insuring against. fire a ji(! other insurable
<br />hazards. casualties. and contingencies as the Mortgage(, may require, in an amount. equal to the indelitedne.9's -secured by this
<br />Mortgage. and in companies acceptable to ill(! Mortgagee. with loss payable clause in favor of and in form accept,,lble to the Mortga-
<br />gee. In the event any policy is not, renewed on or before tell days of its expiration, the 1XIortgagee may procut;e in suralice oil the
<br />improvements, pay the premium therefor, and such surn shall bec:)nie immediately (In(, and payable with inter(,st.-at the rate. set
<br />forth in said noti� until paid and shall be st,cured-bY this mortgage. Failure oil tile part of the Mortgagor to furnish such renewals
<br />n�
<br />are hervin required or failure to pay lily sunis advanced hereunder shall, at, the option of the -Mortgagee, cpll�stitllte a default
<br />under tile terms 'of this mortgage. 'Flie dvlivery of such policies ;hall, ill tile event of default, constitute all assi-nment of the un-
<br />earned premium.
<br />j
<br />Any sunis received by the 'Nlortgagev by reason of loss or damage insured against. may be retained by the Nlortgagee
<br />and applied toward the paymetit of the dcbt. hereby sceured, or. at the option of the Nlortgagee, such surns-Pit.h6r wholly or in
<br />part. may be paid over to the Mortgagor to he used to repair such buildings or to build ne%v buildings in thei ' r 'place or for any -
<br />other purpose or object satisfactory to the lvIortgagee without affecting the lien oil the mortgage for the full amount secured li.ere-
<br />by before such J)ayment ever took place.
<br />To promptly repair. restore or rebuild ariv buildings or improvements now or,hereafter oil tile premis.es-which may be-
<br />come damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic's lien "or other lien or
<br />claim of lien not expressly:subordinated to the lien hereof; not to suffer or perinit any uillawful;use of or illy iiiiisance to exist on
<br />said property nor to permit wa.ste oil said premises, nor to do.any other act whereby the property hereby con�,ey(id shall become
<br />less valuable, il(;r to diminish or impair its value b�. lily let or omission to,act: to complN with all requirements of ]a%v with respect
<br />to the mortgage([ premises in(] tile use thereof.
<br />r
<br />That should the premises or any part thereof be taken or darnagerl by reason of in%, p6blic improvement �or condernhation
<br />proceeding, or under tile right of eminent domain, or in any other manner, the Mortgagee, shall be entitled to all compensations,
<br />awards, and any other payment or relief therefor, and shall be entitled, at, its option, to commence, appear in ind prosecute in iLs
<br />own name ,illy action or procceding, or to make any compromise or sefflement, in connection N , vith such taking 6r darnage. All such
<br />compensation, awards, damages. right (if action and procceds are hereby assigned to the Mortgagee, who may, after deducting
<br />,therefrom all its' -expenses, release any moneys so received by it �or apply the same oil illy indebtedness securedl hereby. The Nfort-
<br />-gagor agrees to execute such further assignments of illy compensation, awards, damages, and rights of action and proceeds as tile
<br />Mortgagee may require.
<br />That in case of failure to perform any of the covenants herein, the Mortgagee may (to oil the Nlortgago.n's behalf eve.rything
<br />so covenanted; that the Mortgagee may also (to illy act it may deem necessary to protect the lien thereof. that ithe N
<br />Mortgagor will
<br />repay upon demand any moneys paid or disbursed. by the Mortgagee for illy of tile above purposes. and such m.bn6ys together with .
<br />interest thereon at'the rate provided in said note shall become so much additional indebtedness hereby secure -d and may lie in-
<br />cluded in any decree foreclosing this mortgage and be paid out of the renLs or proceeds of sale of said premises. if not otherwise
<br />paid, that it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien, enctimhranc�ns, or claim in ad-
<br />vancing moneys a-, above authorized, but nothing herein contained shall be construed as requiring tile Mortgagee to advance any
<br />moneys for any such purpose nor to (to any let hereunder; and that Mortgagee shall not incur any personal liability because of a . ny-
<br />thing, itroay (to or omit. to (to hereunder.
<br />Til.the e"vent of tile default by 1%,Iortgagor in the payment of aily installment, as required by tile Note�seciired hereby, or
<br />in the performance of the obligation in this mortgage or in the note secured thereby, tile Mortgagee 'shall be entitled to declare the
<br />debt secured hereby (tile and pa.,Mble without notice, and the Mortgagee shall be entitled at its option, without li.otice, either by itself
<br />or by a receiver,to be appointed by the court thereof, and without regard to the adequacy of any Security for,the' indebtednessse-
<br />.:cured hereby, to'enter upon anti take possession of flic'mortgaged premises, and An collect and receive the ren . Is. issues ' and profits
<br />Ahereof, and apply the same, less costs of operation and collection. upon the indebtedness secured by this m9rtgage; said rents,
<br />issues and profts being hereby a§signed to the Mortgagee as furth.cr security for tile pay�rricnt of all indebtedness .5Vcurvd hereby.
<br />The Mortgagee shall li�ve tile power to appoint any agent or agents it may desire for the purpose.of ri!pairmg said prem-
<br />ises; renting the same: collecting the rents. revenues and income, and it mav pay out of said income all expenscs incurr.ed in rent-
<br />ing anti managing"tho shme and of collecting tile rentals therefrom:. The balance' rema'ining, if any, shall be I applied toward the
<br />dischar�& of the mortgage'. indebtedness. 'this assignment is to terminate Intl become mill and void upmi relcas'e (if this mortgage.
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