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<br />83'\Uf\ln2~ 83-o012J1- <
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<br />~lYo/i~"fter security of the indebtedness hereby secured, upon the request of the mortgagee, its successors
<br />or assigns, mortgagor shail execute and deliver a supplemental mortgage or mortgages covering any' adllitions,
<br />improvements, 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 do so; and such advances
<br />shall become part of the indebtedness secured by this instrument, subject to the same terms ahd conditions,
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<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,
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<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 rhereof 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 norice in wriring
<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 paymem for such loss directly to mortgagee
<br />instead of to mortgagor and mortgagee joimly, and rhe insurance proceeds, or any part thereof, may be applied
<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 />ro said property in extinguishmem 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 rhe 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, deterioration of said property or any part thereof; in rhe event
<br />of failure of the mortgagor to keep the buildings on said premises and rhose erecred 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 rhe 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 volumarily 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 wfltten ,'onsent of rhe 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 ereeted or to be erected on said premises,
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<br />1. To not rem or assign any pan of the rent of "aid mortgaged property or demolish, or remove. or
<br />substantially alter any building without the written consent of the mortgagee,
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<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 />payment 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,
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<br />k, The mortgagee shall have the right to inspect the mortgaged premises at any reasonable time,
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<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 ,hall 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,
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<br />2, 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 rhe
<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 accuring 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.
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<br />3, If 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 at.'Crued interest shall at on<:e become due and payable, and draw ~ per cent ( 13.7ir,,) interest
<br />thereafter until paid at the election of the mortgagee: and this mortgage may thereupon be foreclosed immediately
<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 suit, "Thirteen and Three/Quarters
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<br />4, In the event of a foreclosure or default as provided herein. the mortgagee shall at oru;e be entitled to the pos-
<br />~ion, use, and enjoyment of rhe real estllte afore!illid and to the rent, ismes, royalues, and profits rhereof,
<br />from the accruing of such rights and dunng the pendency of foreclosure prtxeedings and slIch possessions, erc"
<br />shllH at once be tleliVa'ed to the mOl'tia8ee upon request. upon failure such delh'ery of such possession mav oe
<br />mfOlUd by ll1Oftpaft, by any appropriate legal proceedings, induding a receiver for the property.
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<br />~, The ~ of any sale of ~ property in accOfdance with the preceding paragraphs shall be applied first Ii>
<br />pay the ._ and apmsa of >aid >ak. the eApeDCe$ in<:urred by the mOrl!!3&" for the purp<'''' of prote..'tltll! or
<br />I'RlIimainil\& ~ p~y, ,ec:oodly. to pay the indebtedness s<<ured hereby; and third"', to pay am 'urplus Of
<br />a~~ to (he ~ UI' pftsorL\ .11)' rntitled th~frto"
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