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0 <br />'T.1KE4 MORTGAGOR FURTHER COVENANTS AND AGREES: <br />That the_Mortgagor will pay the indebtedness as liereinbefore provided. <br />That the Mortgagor is the owner of said'property in fee simple ana has good right and lawful authority to �ell and <br />convey the same -pild that the same is free and clear of any lien or encumbrance-". and that Mortgagor will warrant and defend the <br />title to said preniises against the -claims of*all persons whomsoever. <br />To pay.immediately when due and payable all general taxes, special fa.*.s, special assessment-, water charges, sewer serv- <br />ice charge.,;, and other taxes and charges against said property, and all taxes levied on the debt secured hereby, and to furnish tile <br />Mortgagee, uporl request, with the original or duplicate receipts therefor. Tile' Mortgagor agrees that there shall be added to <br />each monthly payiiie'nt -required -hereunder 6r* under the evidence of* debt secured hereby an amount estimated by the Mortkagee <br />to be sufficient to enable tile Mortgagee to pay, as they become due, all taxes', -assessments, and similar charges upon tile prem- <br />ises Subject thereto; any' deficiency because of tile iiisufficiency of such additional pAymenLs shall be forthwith deposited by tile <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. <br />The Mortgagor agrees that there shall also be added to eacit monthly payment of principal and inter'est require(] here- <br />under all amount estimated by the Mortgagee to be sufficient to enable the Mortgagee to pay, as it becomes . (N6', tile insurance <br />premium oil my insurance policy delivered to tile Mortgagee. Any deficiency because of the insufficiency of such additional ba*Y- <br />merits shall be forthwith deposited by the Mortgagor with the Mortgage(! upon demand by the Mortgagee. Any defauit under th is <br />paragraph shall be deemed a default in the payment of insurance premium,,. If tile policy or policies deposited are such at, home- <br />owners or all risk policies, arid the deposits are insufficient to pay the entire premium, the Mortgagee may apply the deposit to <br />pay premiums on risks required to be insured by this mortgage.' <br />Pa�ment.s made by the Mortgagor under the above paragraphs may, at the option of t'he Mortgagee, be held'by it and <br />commingled with other such funds or its own . funds for the payment. of sucli,items, and until so applied,such payments are hereby <br />pledged as 'Security for tbe unpaid balance of tlle'rnortgage indebtedness. <br />To procure, deliver to, arid maintain for t1re benefit of the Mortgagee (luring the life of this mortgage original policies an'd <br />renewals thereof, delivered at least tell days before the expiration of any such policies, insuring against fire and other insurable <br />hazards,. casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this <br />Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the INfortga- <br />gee. In the event any policy is not renewed on or 'before tell days of its expiration, the Mortgagee may procure insurance on tile <br />iinprovernerits, pay. the premium therefor, and such Sum -,;hall become immediately due and payable with <br />interest. at tile rate set <br />forth in said note until paid all(] shall be secured by this mortgage. Failure on.the part of the.Mortgago'r to furnish such renew.:Is <br />as are herein required or failure to pay any SLIMS ldvanced hereunder shall, at tile 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 an assignment of tile tin - <br />earned premium.' <br />Any Sums received by the Mortgagee by -reason of loss or damage insured against.may be retained by the iklortgagee <br />and applied toward the payment of the debt hereby secured, or, at the option of the Mortgagee, such sums either wholly or in <br />part may be paid over to the Mortgagor to be used to repair such buildings or. to build'new buildings in their ])fact- or for any <br />other purpose or. 'object satisfactory to the Mortgagee without afTecting the lien on the mortgage for tile full amount secured here- <br />by before such pa�inent ever took, place. <br />To pror�p-tly repair, restore or rebuild any buildings or improvements. now or hereafter on the premises which may be- <br />come da * maged or destroyed; to keep said premises in good condition and repair and free from any mechanic's lien or otli(�r lien 'or <br />claim of lien not * expressly subordinated to the lien hereof; not to suffer or permit.any unlawful use of or any nuisance to exist on <br />said property nor to permit waste on said premises, nor to do any other act %%,hereby tile property hereby conveyed shall become <br />less valuable, nor to diminish or impair its value by any act or omission to act; to comply with all requirement.,; of law with respect <br />to the mortgaged premises and the use thereof. <br />That should the premises or my part thereof be taken or damaged by reason of any public improvement or condenination <br />proceeding, or under the 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 and prosecute in it -S <br />own name 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 and proceeds are hereby assi.!,ned to the Mortgagee, who may, after deducting <br />therefrom all its expenses, release any moneys so received by it or apply the same on any indebtedness secured hereby. The Mort- <br />gagor agrees to execute such further assignments of any coin lien sa tion, 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 Mortgagee may do oil the Mortgagor's behalf everything <br />so covenanted; th at tile Mortgagee may also do any act it may deem necessary to protect the lien thereof; that tile ' <br />Mortgagor will <br />repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes, and such moneys together with <br />interest thereon at the rate provided in said note shall become so much additional inolebtedness hereby secured and may be in- <br />cluded in any decree foreclosing this mortgage and be paid out of the rents 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. encumbrances. or claim in ad- <br />vancing 'moneys as above authorized, but nothing'herein contained shall be construed as requiring the Mortgagee to advance any <br />moneys for any such purpose nor to do any act hereunder; and that Mortgagee shall not incur any personal liability becalse of any - <br />tiling it may do or omit to do hereunder. <br />In the event of the default by Mortgagor, 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, and.the Mortgagee shall be entitled at its option, without notice. 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 indebtednes's W - <br />cured hereby, to enter upon and take pos�eggibn* 6f the'mortgaged premises, and to collect and receive the rents, issues and profits <br />thereof, and apply tbe same, Jess costs of operation and collection, upon the indebtedness secured by this mortgage; said rents, <br />issues and profits being hereby assigned to the Mortgagee as further security for the payment oi 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 ,-;aid 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 coll�cting the rentals therefrom. The balance remaining, if any, shall be applied toward the <br />discharge of the, mortgage indebtedness. 'This assignment is to terminate and become null and void upon releise of this mortgage. <br />