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<br />88- 100317
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<br />4. CARE OF MORTGAGED PROPERTY.
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<br />Mortgagor agrees to keep all buildings, fixtures, trade
<br />fixtures, fences and any and all other improvements on the
<br />premises in a good state of repair and to permit no waste of
<br />any kind.
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<br />5. PAYMENT OF TAXES, ASSESSMENTS, HAZARD, MORTGAGE AND OTHER
<br />INSURANCE PREMIUMS.
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<br />Mortgagor shall pay all real estate taxes and assessments
<br />levied or assessed against the above described mortgaged
<br />property, or any part thereof, as provided under this mortgage.
<br />Mortgagor shall pay all premiums for hazard insurance, insuring
<br />all improvements now existing or hereafter erected on the
<br />mortgaged property against loss by fire, lightning, windstorm
<br />or other casualty, and extended coverage in any amount eq~al to
<br />or excceding the unpaid balance of the indebtedness evidenced
<br />by the note secured by this mortgage as provided by this
<br />mortgage. Such insurance shall be in the form acceptable to
<br />Mortgagee and shall include a mortgagee loss payable clause
<br />satisfactory to Mortgagee. In the event of loss, Mortgagor
<br />I shall give immediate notice to Mortgagee and Mortgagee is
<br />hereby authorized to make proof of loss if the same is not
<br />promptly made by the Mortgagor. All insurance companies are
<br />authorized to make payments for such loss directly to the
<br />Mortgagee and the proceeds of such insurance, or any part
<br />thereof, may be applied by the Mortgagee at its option, either
<br />to reduction of the indebtedness evidenced by said note secured
<br />by this mortgage, or to the restoration or repair of the
<br />damaged property. If, and so long as, the note described above
<br />and this mortgage are insured, the Mortgagor shall pay all
<br />mortgage insurance premiums. This real estate mortgage is
<br />executed by the mortgagors on the dates shown below.
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<br />6. FUNDING IN ESCROW FOR TAXES, ASSESSMENTS, HAZARD,
<br />MORTGAGEAND OTHER INSURANCE.
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<br />(9131 632,5666
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<br />Mortgagee may require Mortgagor to pay a sum equal to
<br />one-twelfth (1/12) of the total estimated amount of the current
<br />year's real estate taxes, assessments, hazard, mortgage and
<br />other insurance premiums monthly in advance to Mortgagee on all
<br />regular monthly payment dates to be used by the Mortgagee to
<br />pay said taxes, assessments, hazard, mortgage and other
<br />insurance premiums when the same become due and payable, In
<br />the event the fund so maintained is insufficient to pay the
<br />taxes, assessments, hazard, mortgage and other insurance
<br />premiums when due, Mortgagor agrees to pay the difference upon
<br />demand. If the fund so created exceeds the amount of said
<br />taxes, assessments, hazard, mortgage and other insurance
<br />premiums, the excess, if any, shall be credited to the
<br />Mortgagor and applied on interest and principal secured by this
<br />mortgage, or held for future, taxes, assessments, hazard,
<br />mortgage and other insurance premiums as Mortgagee may elect.
<br />Mortgagee shall make no charge to Mortgagor for the service of
<br />holding and applying such funds for real estate taxes,
<br />assessments, hazard, mortgage and other insurance premiums. In
<br />consideration of the service provided by Mortgagee in
<br />m&intaining said fund and making all said payments, no
<br />interest, charge, compensation or fee shall be due from
<br />Mortgagee to Mortgagor on any amount so maintained in said
<br />fund. In the event that Mortgagee elects to waive the
<br />requirement for monthly payment of taxes, assessments, hazard,
<br />mortgage and other insurance premiums at any timeunder this
<br />section of the mortgage, such waiver shall not bar the
<br />Mortgagee from later requiring said payments from the
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<br />!: Mortgagor.
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<br />RYAN AND RYAN. P.A.
<br />ATTORNEYS ATLAW
<br />P.O, BOX 205
<br />509 COURT STREET
<br />CLAY CENTER. KS, 67432
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