|
L
<br />86-- 10282.8
<br />6. If he/she fails to pay any sum or weep any covenant provided for in this mortgage, the Mortgagee, at
<br />its option, may pay or perform the same, and all expenditures so made shall be added to the principal sum
<br />owing on the above note, shall be secured hereby, and shall bear interest until paid at the rate provided
<br />for in the principal indebtedness.
<br />7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a s:rpplerne.ntal note or notes
<br />for the sum or sums advanced by Mortgagee for the alteration, modernization, or improvement made at
<br />the Mortgagor's request; or for maintenance of said premises, or for taxes or assessments against the
<br />same, and for any other purpose elsewhere authorized hereunder. Said note or notes shall be secured
<br />hereby on a parity with and as fully as if the advance evidenced thereby were included in the note first
<br />described above. Said supplemental note or notes shall bear interest at the rate provided for in the prin-
<br />cipal indebtedness and shall be payable in approximately equal monthly payments for such period as may
<br />be agreed upon by the Mortgagee and Mortgagor. Failing to agree on the nratur•ity, the xhole of the sum
<br />or sums so advanced shall be due and payable thirty (30) days after demand by the Mortgagee. In no
<br />event shall this maturity extend beyond the ultimate maturity of tine note first described above.
<br />S. He /she hereby assigns, transfers and sets over to the Mortgagee, to be applied toward the payment of
<br />the note and all sums secured hereby in case of a default in the performance of any of the terms and condi-
<br />tions of this mortgage or the said note, all the rents, revenues and income to be derived from the mort-
<br />gaged premises during such time as the mortgage indebtedness shall reinain unpaid; and the Mortgagee
<br />shall have power to appoint :,n% agent or agents it may desire for the purpose of renting the same and cok
<br />lecting the rents, revenues and income, and it may pay out of said incomes all necessary commissions and
<br />expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance
<br />remaining, if any, to lie applied trill and the discharge of said mortgage mdebtedness.
<br />9. He /she will continuously maintain hazard insurance, of such type or types and amounts as
<br />Mortgagee may from time to time require, on the improvements now or hereafter on said premises and
<br />except when payment for all such premiums has theretofore been made under /a! of paragraph 2 hereof,
<br />will pay promptly when due any premiums therefor. Upon default thereof, Mortgagee may pay the same.
<br />All insurance shall be earned m companies 'apprbved ` by the Mortgagee and the policies and renewals
<br />thereof shall be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in
<br />form acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by mail to the
<br />Mortgagee, who may make proof of loss if not made promptly by Mortgagor, and each insurance company
<br />concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee
<br />instead of to the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof,
<br />may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured
<br />or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage, or other
<br />transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all
<br />right, title and interest of the Mortgagor in and to any insurance policies then in force shall pass to the
<br />purchaser or grantee.
<br />10. As additntn:,i an,1 , „ll:ktrrzd security ftrr tht• pacrnenl of th,• note <i- r: b, ri, :u,d ;ill �.ums t+i become
<br />due under this rnortgrgc, the Mortgagor hereby assigns to the Mortgage,, all bonuses, profits, re.r-
<br />nues, royalties, tights, nlid other benefits accruing to the Mortgagor under ant- and all oil and gas 'teases
<br />now, or during the life of this m„rtgage, ov.lctRed or; 0111il pivimses, with Hie right to r,,cwve and receipt
<br />for the same and apply thcn, t,, indr bt, does as +rid bt•fnre as after ,default ir, the conditions of this
<br />mrn'tgage, and the Moi tgagc -may demand, sue for and recover ally anch TMI. tneras a h,•n ,due and pay-
<br />able, but shall not be t,•,imi -i so in ,lo. This assignnu•nt < s to termitukt,-, xnd lwcorne nuii and N,o!d uporn
<br />re ieasir of this rortgage•.
<br />11. He /she shall not commit or permit wa,t,,.artd shall maintain the property in as good condition as at
<br />present. reasonable .•car aru{ t��Si9• «��cepte,._ 1'pon any f:uitnr to go maintain. Nlart;rag,•e, at its option,
<br />may cause r,rason cl6i maint, nau . c ',sock to he I» rf, =rmed at Un• c„st cif Mortgagor. Atl.t arnounts paid
<br />therefor by Mortga „�e shall !.,ar �ntcrest at the rate urmkdrd for in th,' Irrutc:pa{ indc•btedncss, snail
<br />there!tlxut become a pai t of th,• :ndebtc•dr ,ass setuu'ed by th!s instrument. rataul� and i,n a parity' wit)” all
<br />other indebtedness secnrr,i `t,•r,h}, and shall be payable thirty (3t1) da }'s of "t., -r demand.
<br />12. if the IT rill', p:uO Le coruh>rnned "puler the pu.ii•r of vinineut domain, cn-
<br />acquire_cf for it pubL, _ ,.xr,tago•, the proceeds for the taking „t. ,r si,e cot i,i. rition. for
<br />such arquisitior,, to cite full am. >uut of the remaut!ng unpaid t.dc'vt .ir s Vcur'A by this
<br />imlrtgage, or hereby .+ i�::, °d o "he Mortiagv. artd dial! be paid f wilr.cith tr1�M,>rigagee, to he
<br />applie,.1 or account �„ thl' Ia,t rnat ;rr:ng itstaiirtrrtis „f such nulebtednrs .
<br />13. If the fails to make attr When due, ,u- to ,,or,l,,: !r! f,. and , cxnl,!% %, ith any
<br />,if the condttwlt,; to Jgi.•r In, ,nt,c conta.r. +•d � :! this mortgal ;e °. �)t t.h'• n„i ,,;,h a eernm <, •I:"n t)tc
<br />ei• n't? prim t +Pal .>nm :u ..._, r.,.d :nt,•r• +.:t shall at ol-we l,ecnme due and p,t_i ,L•� th, ,1l 11un of .ho
<br />Nortgagee; find -,.'s z. !.gvig• r'na} 'he9_ ;,•art b .ureclased inure =i atrl� for the vl he tudelrted-
<br />„_s het •I:y c, -cur. d, .. , di ,g t: cost . ,=ett•mltng the ah ;t a, t ruet'-
<br />gage to the time , . iii,,_ =.•uc ing -itrih Stilt. .,,!n, i,.u,i t-,. 01,• A "t, r:ans
<br />.1dmiwstratiot, 4,1, ..- a -,`: , . f :e guararlty .-,r ii,•:uran<:, tn, 'iui,
<br />.,hail Irt u,clud ti ill !i +t +:. _ (r�, •ekrsirn .
<br />14. If the ltkffc'lrte 1 tt:. a ?n r, < €,r € »• $uafant<,•.I n ,! h• d',,,t,'I �t >!h.
<br />tt,ia 11,111, and 1 ag i ktt is i n) tIt .•n r dt r.,rift n ` WA l
<br />iri:x l..,t .1..... a ' i. Tisif t , to €v:•t t . ,:!nsf t„y prr,s, s .,,n ,n .,r .._ � � c .,,..i t. ... ,.
<br />.'al .n �.Aiat it7'?t•}3.:'rf]'s • u, .i -,1 it'll 'irP lni'i.❑ ;.tt'nt wo"I . -:1 T!tl" i !: °b"f, •1- s I i....'ef
<br />-, 791nQrS7s El+e,rt +SV,
<br />1 1. ., Fti.r:=, €. A •'Ir. tom.. .. :. it >5�1 .. ,. _lt .I . }5, !> 1I s ”.
<br />.dal
<br />i
<br />6
<br />""'r
<br />
|