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<br />3. 'l'he Mortgagor will pay all taxes which may be levied upon the Mortgagee's
<br />interest in said real estate and improvements, and which may be levied upon this mortgage
<br />or the debt SE!!c~ured hereby (but only to the extenttha.t such is not prohibited by law and
<br />()nly to the e~ttent that such will not make this loan usurious), but excluding any income
<br />i~ax, State or F'ederal, imposed on MOl~tgagee, and will file the official receipt showing
<br />such payment with the Mortgagee. Upon violation of thi.s undertaking, Dr if the Mortgagor
<br />prohibited by any law now or hereafter existing from paying the whole or any portion of
<br />1~,he aforesa.id taKes, or upon the rendering of any court decree prohibiting the payment by
<br />the Mo:rtgagor olrany such taxes, or it: suc.::h law or decree provides that any amount so paid by
<br />the Mort9agor slhall be credited em the mort~gage debt, the Mortgagee shall have the right to
<br />9ive ninety days' written notioe to the owner of the mortgaged premises, requiring the
<br />payment of thE!! mortgage debt. If such notioe be given, the said debt shall become due,
<br />payable and collectible at the expiration of said ninety days.
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<br />4. That should he fail to pay any sum or keep any covenant provided for in this
<br />Mortgage, then the Mortgagee, at its option, may payor perform the same, and all expenditures
<br />so made shall be added to the principal sum owing on the above note, shall be secured hereby,
<br />and shall beaJ::' interest at the rate set forth in the said note, until paid..
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<br />5. That he hereby assigns, transfers and sets over to the Mortgagee, to be applied
<br />t.oward the payment of the note and all sums secured hereby in case of a default in the
<br />performance of any of the terms and conditions of this Mortgage or the said note, all the
<br />rents, revenues ancl income to be derived from the mortgaged premises during such time as
<br />the. mortgage indebt:edness shall remain unpaid i and the Mortgagee shall have power to appoint
<br />any agent or agents it may desire for the purpose of n~pairing said premises and of renting
<br />the same and (::ollecting the rents, revenues and income, and it may payout of said incomes
<br />all expenses ()f repairing said premises and necessary commissions and expenses incurred in
<br />renting and managing the same and of collecting rentals therefrom; the balance remaining, if
<br />any, to be applied toward the dischal:ge of said mortgage indebtedness.
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<br />6. That he will keep the improvements now existing or hereafter erected on the
<br />mortgaged property, insured. as may be required from time to time by the Mortgagee against
<br />loss by fh:e and other hazards, casualties and contingencies in such amounts and for such
<br />periOds as may be required by the Mortgagee and will pay promptly, when due, any premiums
<br />on such insurance provision for payment of which has not been made hereinbefore.. All
<br />insurance shall be carried in companies approved by the Mortgagee and the policies and
<br />renewals therEwf shall be held by the Mortgagee and have att.aohed thereto loss payable
<br />clauses in favc.r of and in form acceptable to the Mortgagee. In event of loss Mortgagor
<br />~~ill give immediate notice by mail to the Mortgagee, who may make proof of loss if not
<br />made promptly by Mortgagor, and each insurance company concerned is hereby authorized and
<br />directed to ~lke payment for such loss directly to the Mortgagee instead of to the Mortgagor
<br />and the Mortgagee jointly, and the insurance proceeds, or any part thereof, may be appl.ied
<br />by the Mort9a~J€~e 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
<br />lnortgage or other transfer of title to the mortgaged property in extinguishment of the
<br />indebtednesslsecured hereby, all right, title and interest of the Mortgagor in and to any
<br />insurance p01:lcies then in force shall pass to the purchaser or grantee"
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<br />7. That as additional and collateral security for the payment of the note described,
<br />and all sums tc> be<=ome due under this mortgage, the Mortgagor hereby assigns to the Mortgagee
<br />i:':!,ll pr'ofits,Jt:'E~ven':tes, royalties, rights and benefits accruing to the Mortgagor under any
<br />.a,nd alloi.l and gaf; leases on said premises, with the right to receive and receipt for the
<br />:ea-me. and apply them to said indebtednesS as well as after default in the conditions of this
<br />ltTIPrtga.ge, and the Mortgagee may demand, sue for and recover any such payments when due and
<br />payable, but isball nQt be required so to do. This assigrunent is to tenninate and becane null
<br />a,nd void upon J;~ele<lse of this mortgage..
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<br />8. That the Mortgagor will keep the building upon said premises in good repair,
<br />neither conwit nor permit waste upon said land, nor suffer the said premises t.o be used
<br />any unla-w:ful purpose..
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<br />9. That if the premises, or any part thereof, be condemned under the power of
<br />'Ei!lIl;inentq~inl' or acquired for a public use, the damages awarded, the proceeds for the
<br />t:aki,ng Qf, or 1~he <::onsideration for such acquisition, to the extent of the full amount
<br />.i.ndebted~eEUi5Up(,Jn t.his IllOX'tgagf!1! ann the note which is given to secure remaining unpaid,
<br />Il!.llrehetrebyaIJJsJlgt)ed}:)y the MQrtgagor to the Mortgagee, and shall be paid forthwith to said
<br />~lQrt9SlgeetQ :l;)E! aPJ~liEKl by the lat.ter on account of the next maturing installment of such
<br />lnd~ijtle4n<iuiJ$..
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