|
<br />
<br />d, pem of the indehU~(lne"1'l upon n:'qIH~sl
<br />or mortg<\gor' stulll (,'xcente and (hdiv<tr ~i,UPP!(~lll(~ntltl or UHlrIgages
<br />il11provelm~nt$. or bt~tH~rments made 10 I.he properly IH~reinabovc described and all propt~rty
<br />the date ht~reof (aU in form satisfactory l() mortgag!~(~). .1;uthel'lnm'(~,l'Itl(mld rnongz\gor fail 10 l;:ure liny d(.~fault
<br />in th~~ payment of a prior or infcrlOl' encumbranc:(: on th(~ pr()p(~rty d(.~scribed by this instrument. rnortgagor here-
<br />by a@~rees to pertnit mortga.gee <.:ure such dt"fault" but mortgagee Imt 10 do and such advances
<br />shaJI become pUll of the indebtedn<lss st:cured by ..his instnullcnt, subject to the s.une terms and conditions.
<br />
<br />
<br />e, The rights cre~lted by Ihis cmlVeyance shall remain in full force and effect during any posfponemmlt or
<br />extf..'nsion of the time of the payment of the indebtedn(~ss I'.~vi(ienl,~t:~d by said note or notes, or any
<br />part thert~of secured hereby,
<br />
<br />f. To cont.inuously maintain hazard (Jf such tYPt~ or types and in stH:h atn()unts as the mortgagee
<br />may f!'Om time' to time require on the now or hereafter em said property, and will pay promptly
<br />when due any pn:miums therefor, All insurance shall be (:arried in to mortgagee and the
<br />policies and re.newals thereof shall be held by mortgagee and have attached thereto I.ossin favor
<br />of and in form acc~~ptable to the mortgagee, In eVt~nt of loss, mortgagor wit! immediate notice in writing
<br />to mortgagee, and mortgagee may make proof of loss if not rnade promptly mortgagor, and eat~h insurance
<br />comr>any conc~~rll1ed is hereby aut.horized and directed t.o mak.e payment for such loss directly to mortgaget~
<br />instead of to J'nortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied
<br />by mOrlgage(~ at its option either to the reduction of the indl.~btedm:ss 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 of the indebtedness securt~d hereby, aU title, and interest of the
<br />mortgagor in and to any insurance then in force shall pass to the purchaser or mortgagee or, at the
<br />option of the mortgagee, may be surrendered for a refund.
<br />
<br />g, To kec:p aU buildings and other improvements on said property in repair and condition; to
<br />permit, commit, or suffer no \vaste, impairment, deteriora.rjon of said property or any part thereof; in the event
<br />of failure of thle mongagor to keep the buildings on said premises and those (~rected on said premises, or
<br />improvements I hereon, in the mortgagee rnay make such as in its discretion it may deem
<br />necessary for the proper thereof; and the full amount of each and every such payment shall be
<br />immediately due and payable; and shall be secured the lein of this mortgage.
<br />
<br />h, To not voluntarily create or 1.0 be cn~ated against the property to this mmtgage any lien
<br />or liens inferior to the lien of this mortgage without written consent of the and futher, that mort-
<br />gagor will keep and maintain the same free frmn the claim of aU persons supplying labor or materials for con.
<br />struction of any and all or now l;~rected or to be erected on said premises,
<br />
<br />i. To not rent or assign any pan of the rent of said property or demolish, or remove, or
<br />substantially altt~r any building without the written consent of the mortgagee,
<br />
<br />j. AU aWluds of in connection with any I.~ondernmttion for use of or
<br />property subject to this mortgage are and shaH be to mortgagee, who rnay the same to
<br />paymem of the installments last due under said note, and mortgagee is hereby authorized, in the flame of the
<br />mortgagor, to executt~ and delivt:r valid acquittances thereof and to appeal from any such award.
<br />
<br />
<br />k. The mortgagef~ shaH have the
<br />
<br />to
<br />
<br />the rnortgaged premises at any reasonable time.
<br />
<br />L To comply with the provisions of any lease if this is on a leasehold. If this Mortgage is on a
<br />unit in a condominium or a planned unit developrm:nt, Borrower shaH perform aU of Borrower's obligations
<br />under the declaration. or covenants or the condominium or planned unit development. the
<br />by~laws and regulations of the (;ondominium or planned unit development, and constituent docum.ems.
<br />
<br />2. Defa,ult in any of the covenants or conditions of this instrument. or of the note or loan ageement secured hereby
<br />shall terminatt~ the mortgagor's right to possession, use. and of the property, at the option of the
<br />mortgagee or (it that. the monga,gor shaH have such right until default). Upon any such
<br />mortgagee shall become the owner of aU of the rents and profits accuring after default as for
<br />the secured hereby, with t.he to enter upon said property for the purpose of such
<br />rents and profits. This instrument operate as an of an.y rentals on. said property to that extent.
<br />
<br />
<br />3. If tbe mortgaa,QI' fails to make any payments when due or conform to and with any of
<br />lheconditions or agreements contained in this or the notes which it secures, then the entire
<br />interest shall at once and draw cent interest
<br />at the (}f t:md this mortgage may be foreclosed
<br />the the cost of the abstract of title from the
<br />to the time of
<br />
<br />
<br />
<br />.l.
<br />
<br />
<br />
|