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1 <br />~~'' 1)(-~j ~r-r' <br />d. For Netter security of the indebtedness hereby secured, upon the request of the mortgagee, its successors <br />ur assigns, mortgagor shall execute and deliver a supplemental mortgage or mortgages covering any additions, <br />rmprovements, or betterments made to the property hereinabove 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 da so; and such advance, <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 />part 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 an the improvements now or hereafter on said property, and will pay promptly <br />when due any premiums therefor. All insurance shall he carried in companies acceptable to mortgagee and the <br />policies and renewals thereof ,hall he held by mortgagee and have attached thereto loss payable clauses in favor <br />of and in form acceptable w the mortgagee. In event of loss, mortgagor will give immediate notice in writing <br />to mortgagee, and mortgagee may make proof of ions tf not made promptly by mortgagor, and each insurance <br />~,ornpany concerned is hereby authonzed and directed to make payment for such loss directly to mortgagee <br />rnstead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied <br />by mortgagee at Sts c>ption 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 raid property rn extinguishment of the mdebtedness ,ecured hereby, all right, title, and interest of the <br />mortgagor in and to ~tny rnsurance pohwie~ then ,n force shall pass to the purchaser or mortgagee or, at the <br />opuan of the mortgagee, may he surrendered for a refund. <br />g. To keep all buildings ,rod other rmprosements on said property in good repair and condition; to <br />permit, comma;, or suffer no waste, impairment, deterioration of said property or any part thereof; in the event <br />cif failure tit the mortgagor to keep the buildings ore .aid premises and those erected on said premises, or <br />smprovements thereon, in gored repair, the mortgagee may make such repairs as in its discretion it may deem <br />necessary for the pre~per preservation thereof; and the full amount of each and every wch payment shall be <br />rmmediateh due and payable; and tihall he .ccured by the lean of this mortgage. <br />h. To nc~t <<,Irultatrls ~reaie car perrntt to he :reatecl altainst the property ~ub)rct to this mortgage any lien <br />err Inns rnlenor to the fien tit this nnxt~;aKr wrthuut untten ~onscnt cat the mortgagee; and father, that mort- <br />-tattor well keep ;soul maintain the carne tree tram the Harm of ;ell persons ~uppiyintt labor ur materials for con- <br />.trucuon cat any nand all buildings or rmprosrrnent~ nom heutg erected ur to he erected on said premises. <br />~ [« nor rent or ,tS.rKn ans part ~~t !hr rent ~,t paid mortgaged property ~}r demolish. or remove. or <br />tiuhstantialls alter arty huildinK Hithout the written .on~rnt ul the mortgagee. <br />t ~~II awards gat Jantagr, in ~unnc~uon wuh .1ny ~undetnnauort lur public use of or injury to any of the <br />property subaes:t to this murtgaKe are hereby assiKnrd anJ Shall he paid to mortgagee, who may apply the same to <br />payment rat the installments last clue under .aid rlotr, and mortgagee is hereby authonrrcl, in the name of the <br />mortgagor, to execute and deliver valid a.yuittancr~ ehereol and to appeal from any such award. <br />f,. The -nortgagee ,hall have the right to rnstlect the rnartgagrd premises at any reasonable time. <br />I. To comply watt the pnrvr,tur-, of any lease if this Mortga)te n tin a leasehold. If this Mortgage is on a <br />aria m a condomimurn or a planned unit devriopment, F3arrower ,hall perform all elf 13arrower's obligations <br />under the dectarauon ur covenants creating ar Kovernutg, the condominium or planned unit devrlopment,the <br />hwlaws and rettulations of the condomtniurn or planned aria developmtnt, and constituent dcxuments. <br />:. Ihfault in any of the covenants car condiueans of this instrument ur of the Hate or loan agcement secured hereby <br />shall termrnatc 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 shalt become the owner of all of the rents and profits ac-eunng 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 aastgnment ul any rentals tin yard property to that extent. <br />3. If the mortgagor defaults, and fails to make any payments when due or to conlorm to and comply with any of <br />the condiitiions or agreements contained in this mortgage or the Hates which it secures, then the enure principal <br />sum and acxrued interest shall at once become due arxi payable, and draw .___~*_ per cettl (.___13~rs) interest <br />thereafter until paid at the election of the mortgagee; and this mortgage may thereupon be foreclosed irnmectltatety <br />for' the whole of the indebtedness hereby secured, inctudtng the cast of extending the abstract of title from the <br />dirt of this mortgage to the time of commet-cing such surf. *"Thirteen <br />~, Ire th~a e^retrt of a farraclc~wre c>r default as providad hetrsin, the mortgagee shall at once be entitled to the pos- <br />sessocxn, use, ar>sl cnloyanent of the real estate afcxrsatd and to the rent, issues, royalties, and profits theraaf, <br />frcrnrt the act-ruing of strch rights and during the pendency of toreclosurr proceeditttts and such pussessiuns, ru., <br />shall st ut~4,e be dalivered to the rtaart,grrgerc upon request, upon failure su.:h delrvery tit sueh taossesstun may he <br />enforced ~ niwegapar, bar any apRrrc~rratc Igal procecdrngs, inc:hrding a receiver for the prot;>rert>. <br />~ ?"bra prorb^r~ritt c-f any sale c-f property in aa~cardancY wrth the prrn,~cdtng paragraphs shall k•r cappi-rd first tea <br />ww.°' iir~ wva-is +enu cxpr~ts~, ui sale, the cxpera-cs irtr;uirrcntll by the rnort,gagec teat the purp~+r gat protea°tirtg err <br />t'n-tainirt~ mad pr'rty, culy, to pay the rndebtrd~ncss sec~rcd Mrret-rk: and thudly, rc~ t~v ,airs ,urplua ~~r <br />e~*a- tea tt~ ~ ti~ parer te~t~Hy e~ntrtkrtl! thr°rctr7.. <br />