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86- 104740
<br />,d, For, beRter security of the indebtedness hereby secured, upon the request of the mortgagee, its successors
<br />or A "isigns, ` mortgagor shall execute and deliver a supplemental mortgage or mortgages covering any additions,,
<br />improvements, or betterments made to the property hereinabave described and all property acquired by it after,
<br />the date hereof (all in form satisfactory to mortgagee). Futhermore; should mortgagor fail to cure any default
<br />in the payment of a prior or inferior encumbrance on the property described by this instrument, mortgagor here- -
<br />by agrees to permit mortgagee to cure such default, but mortgagee is not obligated to do so, and such advances
<br />shall become part of the indebtedness secured by this instrument, subject to the same terms and conditions,
<br />e. The rights created by this conveyance shall remain in full force and effect during any postponement or
<br />extension of the time of the payment of the indebtedness evidenced by said promissory note or notes, or any
<br />vpart thereof secured hereby.
<br />f. To continuously maintain hazard insurance, of such type or types and in such amounts as the mortgAgee.
<br />may from time to time require on the improvements now or hereafter on said property, and will pay promptly.,
<br />when due any premiums therefor. All insurance shall be carried in companies acceptable to mortgagee and =the
<br />policies and renewals thereof shall be held by mortgagee and have attached thereto loss payable clauses in favor
<br />of and in form acceptable to the mortgagee. In event of loss, mortgagor will give immediate notice in writing
<br />to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurance , -
<br />company concerned is hereby authorized and directed to make payment for such loss directly to mortgagee,
<br />instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied
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<br />by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration: or
<br />repair of the property damaged or destroyed. in event of foreclosure of this mortgage, or other transfer of title
<br />to said property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the
<br />mortgagor in and to any insurance policies then in force shall pass to the purchaser or mortgagee or, at the
<br />option of the mortgagee, may be surrendered for a refund.
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<br />g. To keep all buildings and other improvements on said property in good repair and condition; to
<br />permit, commit, or suffer no waste, impairment. deter ;;.:;on of said property or any part thereof} , in the event
<br />Of 00-M -e of tkc oriaagor io keep the buildings on said premises and those erected on said premises; or
<br />improvements thereon, in good repair, the mortgagee may make such repairs as in its discretion it may deem
<br />=necessary for the proper preservation thereof, and the full amount of each and every such payment shall be
<br />immediately due and payable: and shall be secured by the lein of this mortgage.
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<br />h. To not voluntarily create or permit to be created against the property subject to this mortgage any lien
<br />or liens inferior to the lien of this mortgage without written consent of the mortgagee, and futher, that mort-
<br />gagor will keep and maintain the same free from the claim of all persons supplying labor or materials for con-
<br />struction of any and all buildings or improvements now being erected or to be erected on said premises.
<br />i. To not rent or assign any part of the rent of said mortgaged property or demolish, or remove, or
<br />substantially alter any building without the written consent of the mortgagee.
<br />j. All awards of damages in connection with any condemnation for public use of or injury to any of the
<br />property subject to this mortgage are hereby assigned and shall be paid to mortgagee, who may apply the same to
<br />i 4yment of the installments last due under said note, and mortgagee is hereby authorized, in the name of the
<br />mortgagor, to execute and deliver valid acquittances thereof and to appeal from any such award.
<br />k. The mortgagee shall have the right to inspect the mortgaged premises at any reasonable time.
<br />L To comply with the provisions of any lease if this Mortgage is on a leasehold, If this Mortgage is on a
<br />unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations
<br />under the declaration or covenants creating or governing the condominium or planned unit development,the
<br />by -laws and regulations of the condominium or planned unit development, and constituent documents_
<br />L Default in any of the covenants or conditions of this instrument or of the note or loan ageement secured hereby
<br />shall terminate the mortgagor's right to possession, use, and enjoyment of the property, at the option of the
<br />mortgagee or assigns (it being agreed that the mortgagor shall have such right until default). Upon any such
<br />default, the mortgagee shall become the owner of all of the rents and profits accrring after default as security for
<br />the indebtedness secured hereby, with the right to enter upon said property for the purpose of collecting such
<br />rents and profits. This instrument shall operate as an assignment of any rentals on said property to that extent.
<br />3,- It the mortgagor defaults, and fails to make any payments when due or to conform to and comply with any of
<br />the conditions or agreements contained in this mortgage or the notes which it secures, then the entire principal
<br />sum and accrued interest shall at once become duo and payable, and draw _I ,,._ per cent (_ 1 70) interest
<br />�'- �9€�tancr- ' ri --.1 ar tnc elect cirr �sr ti>z riser a -- - -' - - "- - �- - -_ . -
<br />_;- fiascr g`-gCC-, aRO TIM Mortgage May Mer3F`t POn De JOie <toSeu imt iedhaucty-
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<br />for the whole of the indebtedness hereby secured, including the cost of extending the abstract of title from the
<br />date of this mortgage to the time of commencing such sutt.
<br />4: in the event of a foreclosure or default as provided herein, the mortgagee shall at once he entitled to the pos-
<br />session, use, and enjoyment of the reai estate aforesaid and to the rent, issues, royaltic -,, and profits thereof,
<br />from the accruing of such rights and during the ivridency of fotmlosurc proceedings and such possessions, etc,,
<br />shall at once be dr1wrtitJ to the mortgagee upon request, upon failure inch dchvery of such posssessioo rods be
<br />enfmr:ed by mortgagee. by any appropriate legal pro eedings, Including a receiver for the property
<br />1. '11W tntkee'd, a,I lsot salr of iald prtificrfw !ri a- ordanee wilt the preceding paragraphs .hall be applied fi,4t to
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<br />piss ihc! c(nth ,bill rktwrivrs If "paid sail', the c klwn," Iimirfed by the nimigagcc for the porfuvtc III f it)t4'CNII)t ur
<br />trirtit IAMIlig tilrd tlrK,eit4, ` +cc4frldis, It, tidy the litdehttdnrv% tircut"I hereby, and thmili, Ida pay gut gj,1141` 11r
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<br />- rk,m, !il 114 fVI...Aff ,o ptf"41, Irsolly rntifint thet City
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