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85- 001429
<br />L The mortgagor oevesissits and agrees as follows:
<br />a He Will promptly pay the indebtedness evidenced by said promissory note at the times and in the
<br />mener therein pteivided
<br />A 130 will pay all tastes, arse simenta, water rates, and other governmental or municipal charges, fines, or
<br />impoddoeW for which provision has not been made hereinbefove, and will promptly deliver the official receipts
<br />therefor to the said mortgagee.
<br />c. He will pay such expenses and fees as may be incurred in the protection and maintenance of said
<br />property, including the fees of any attorney employed by the mortgagee for the collection of any or all of
<br />the indebtedness hereby secured, or for foreclosure by mortgagee's sale, or court proceedings, or in any other
<br />litigation or proceeding affecting said premises. Attorneys' fees reasonably incurred in any other way shall be
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the request of the mortgagee, its sue.
<br />cessors or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any additions,
<br />Improvements, or betterments made to the property hereinabove described : nd all property acquired by
<br />it after the date hereof (all in form satisfactory to mortgagee). Furthermore, should mortgagor fail to cure
<br />any default in the payment of a prior or inferior encumbrance on the property described by this instrument,
<br />mortgagor hereby agrees to permit mortgagee to cure such default, hot mortgagee is not obligated to do so;
<br />and such advances shall become part of the indebtedness secured by this instrument, subject to the same
<br />terms and conditions.
<br />e. The rights created by this conveyance shall remain in full force and effect during any postponement
<br />or extension of the time of payment of the indebtedness evidenced by said promissory note or any part thereof
<br />secured hereby.
<br />J. He will continuously maintain hazard insurance, of such type or types and in such amounts as the
<br />mortgagee may from time to time require on the improvements now or hereafter on said property, and
<br />will pay promptly when due any premiums therefor. All insurance shall be carried in companies acceptable
<br />to mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto
<br />loan payable clauses in favor of and in form acceptable to the mortgagee. In event of loss, mortgagor will give
<br />immediate notice in writing to mortgagee, and mortgagee may make proof of loss if not made promptly by
<br />mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such
<br />lass directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any
<br />part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby
<br />secured or to the restoration or repair of the property damaged or destroyed. In event of foreclosure of this
<br />mortgage, or other transfer of title to said 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 mortgagee or, at the option of the mortgagee, may be surrendered for a refund.
<br />g. He will keep all buildings and other improvements on said property in good repair and condition;
<br />will permit, commit, or suffer no waste, impairment, deterioration of said property or any part thereof;
<br />in the event of failure of the mortgagor to keep the buildings on said premises and those erected on said
<br />premises. or improvements thereon, in good repair, the mortgagee may make such repairs as in its discretion it
<br />may deem necessary for the proper preservation thereof; and the full amount cf each and every such payment
<br />shall be immediately due and payable and shall he secured by the lien of this mortgage,
<br />h. He will not voluntarily create or permit to he created against the property subject to this mortgage
<br />any lien or liens inferior or superior to the lien of this mortgage without the written consent of the mort-
<br />gagee; and further, lie will keep and maintain the same free from the claim of all persons supplying labor or
<br />materials for construction of any and all buildings or improvements now being erected or to be. erected on
<br />said premises.
<br />i. He will not rent or assign any part of the rent of said mortgaged property or demolish, or remove,
<br />or 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 he paid to mortgagee, who may apply the
<br />came to payment of the installments last due under said note, and mortgagee is hereby authorized, in the
<br />name of the 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 />2. Default in any of the covenants or conditions of thin instrument or of the note or loan agreement secured
<br />hereby shall terminate the mortgaptor's right to possession, use, and enjoyment of 1he property, at the option of the
<br />ene"PAgte or his assigns lit being agreed that the mortgagor shall have such right iinlsl default). Upon any such
<br />default, the mortgagee shall become the owner of all of the rents and profits acenring after default as security it
<br />for the indebtedness secured hereby. with the right to enter upon said property for the purpose of coil much
<br />renla and profits. This instrument shall operate as an assignment of any rentals on said property to that extent. i +
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