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83-4)01792 THE MORTGAGOR FURTHER COVENANTS AND AGREES: ! ~ ,:,- '" j. Tha'i: ;the- 'Mortgagor will pay the indebtedness as hereinbefore provided. r That the Mortgagor'is the owner of said property in fee simple and has good right and lawful authority to selJ and convey the same.-and thatthe-ssme is free and clear of any-lien or encumbrance; and that Mortgagor will warrant and defend the title to said premi~ against the- -claims of all' persons whomsoever, To pay immediately when -due and payable all general taxes. special taxes. special assessments. water charges. sewer serv- ice charges, and other taxes and charges against said property. and aU taxes levied on th€' debt secured hereby, and-to furnish the Mortgagee. upon request. with the original or duplicate receipts therefor. The Mortgagor agrees that there shall be added to each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated hy the Mortgagee to be sufficientcto-enable the- Mortgagee to pay, as they become due, all taxes, Bsse:;sments, and simiiar charges -upon the prem- ises subject the-reto; any deficiency because of the insufficiency of such additional payments shall be forthwith deposited by the Mortgagor with the MortgageE> upon demand by the Mortgagee. Any default unner this paragraph shall be deemed a default in payment of taxes, assessments, or similar charges required hereunder. The Mortgagor agrees that there shall also be added to each monthly payment of principal and interest required here. under an amount f'stimated by the Mortgagee to be sufficient to f'nable th€. ~fortgage-e to pay, as it becnrl'lf's duE'. the insurance premium on any insurance policy delivf"red to the Mortgagee. Any deficiency bf'causc- of Uw insufficiency of such additional pay- ment.~ shall be- forthwith deposited by the ~10.tgagor with the !\.1ortgagee upon demand by the Mortgage-e. Any default uncle-r this paragraph shaH be deem(>d a de.{ault in th(' payment of insurance premiums. If the policy or policies deposited are such as trome-~ owners or all risk policies, and the deposits art' insufficient to pay the entin' premium, the Mortga!;ee may apply the deposit to pay pr€'miums on risks rf'quired to hf' insured hy this mortg-agt'. Payments made hy the Mortgagor lwdf'r th~~ ahove paragraphs may, at th(' option of the r-..10rtgagee, be held.by jt and commingled with other such funds or its own funds fur the paymf'nt of such !tpms. and until so applied, such payments are hereby pledged as security for thp unpaid baJanC'P (If thf' mortgagp mdebtf>dn('ss To procure. of:'livPf 10. and maintain for the- lwnt"-fit of the \loftg-ag-l?f'- during the life of this mOftgage original policies and renewals t.hereof. delivf'ff'd at !pas;t tFn days !wfofe thf' eXpiratiOn (If an.'" :-;lIeh policies, insuring- against fire and other insurahle hazards, casualties. and contingencies as the ~1ortgage{' may require. in 3n amount equal to the indebtedness secured by this Mortgage. and in companit,s acce-ptabh~ to the MortJ:;agpl'. \-I.ith lo:-;s payablf' dausE' in favor of and in form acceptable to the I\fortga- gee. In the p\'ent any polley IS not rf'nf'Wt-'1i on Ilr before ten days of !b expiratIOn. thf' !\-fortgagf'e may procure insurance on the improvements, pay thp premIUm Hwrf'fnr, and 'iuch .,urn ~haJ] hee}mt> immf'dlatelv dtH' and payable with interest at the rate set forth in said notp until paid and ~hall l}tO ~t'eured 11.\ thi~ mortgage Fadun' on th(' part of thE' Mortgagor to furnish such renewals as are herein required or failufp to pay :HlY ,;ums acivann'd rwn'undpr ...halL at the {Jphon of th€' Mortgagee. constitute a dpfault under the terms of this mortgag:e_ TIlt' dt.livt.rv of ..,uch pOIit'll'''' "hall. 1tl thp l'Vli'nt of rlpfault, c(lnstitllt€' an assignmt'nt of the- un- earned premium, Any -"urns Tt'ct.jved by tht' \1oTtg<-lgt'P hv reas-un of ins."- or damagf' lO':-;Uft,d again~t may hii' rptainNJ ny the ~iortgagee and applied toward the pa:,--nwnt ill ttw dr'ht ht'n'hv ';;J\'Uft-'d, "r at tiw option iff In(' ~lortgagee, such s-um~ t,jthpr .....holly or in part ma.'ll bf' paid over 10 tht., Mortg-agfJf to (J{' ll~t'd to n'palf ~uch huilding~ Of to huild npw huilding~ itl thelf place or for any other purpose or object saOsfactory to thf' \1ortgag:l't' WII,hout affpctmg tnt:' jlP-n I'll the Tnort.gagiE' for the full amount si:-'cured hiE're- by he-fort' such payment l"Vl'r took placp To promptly repair, f('~tort' or rebuilJ any bu.ilding~ I'f irnprO\.f'mf'nts ntH-\" or hpreaft('r on the premises which may he. come damaged or destroyed; to keep said pn.-misf'::; Hl goon {'(ll\(htion ;-md repair and fre-t~ from any mechanic's lien or other lien or claim of lien not expres.sly subordinated to the- lien ht'rl>,)f: not to ~uffpr Pi pt'rnut any unlawful llse of or any nuisance to exist on said property nor to pf'rmit waste on said premises, rwr to dll any other al't ",,-twrt-'oy thlo" property hereby conveyer! shaH he-come less valuable. nor to diminish or impair its value hy any act "r nflll,,:-:'lltn t.~ ad, tit l'omply with all rl:.'Quif{~ments of law with rf'spe-ct to the- mortgaged premises and the use thereof That should the premises or any part then"lJ be taken uf damagerl hy rpa~on of any public improvt>mfOnt or condemnation proceeding. -or under: th~ ,right 'of _~minpnt domain. ('. in any othE>f manrwr, tht" \1ortgaget" ~hall hi" t>ntitled to all compensations, awards, and any other paY~ment-'or~:-relief rht'cdor, and shaH be entitled. at its option. to commence. appear in and prosecute in its own nante any action or proceeding:, or to make any compromise tIC settlf'ITwnt in connection with such taking or damage. AU such compensation. awards, damages, right of action and proceeds are h~reby assJgnt>d to th€ Mortgagee. who may, after deducting therefrom all its expenses, release any moneys so ret~~ivt'd hy it or apply the samt' on any ind~btedness secured hereby-. The Mort- gagor agrees to execute such further assignments of any ('OiUlwn:mtion, awards. damagt's, and rights of action and procel~ds as the Mortgagee may require. That in case of failure to perform any of tht' t'Ovenants hpfe-in. tilt' ~lortgagee may do on the Mortgagor's behalf il'verything so covenanted; that the Mortgage€' may also do any ad, it may dt.e-m llt'l~t'ssary to prott'Ct th(' lien theri:."Of: that the Mortgagor will repay upon demand any moneys paid or rlis.bursed by the Mortgagf't.' for any of thE' above purposes. and such monE"Ys together with interest thereon at the rate provided in said note shall become- so much additional indebtedness he-re-by secured and may he in- cluded in any decree foreclosing this mortgage and bt- paid nut of the- rents or proceeds of sale- of said premises if not otherwise paid; that it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien, (>-llcumbrances. or claim in ad~ vancing moneys as above authorized. but nothing herein contained shall be construed 8S requiring the Mortgagee to advance any moneys. for any such purpose nor to do any act hereunder~ and that Mortgagee shall not incur any personal liability because of any~ thing it may do or .omit to do hereunder. In the event of the default by l\-1ortgagor in thfO payment of any installment, as requin..>d hy the Note- secured he-reby. or in the performance of the obligation in this mortgagt" or in the note St.."'Cured thereby, the Mortgagee shall be- pntitJed to df-dare the debt secured hereby due and payable without notice, and the ~fortgagee shall be entitled at its option, without notice, either by itself or, by a receiver to be appointed by the court ther€'Of. and withou t regard to the adequacy of any security for the indebtedness se- cured herebY. to ente_r upon and take posSesSion' ciJ the mortgaged pr@miges, and to collect and receiv,p thE" l'1?'nts, issues and profits thereot and apply the same, .less costs of operation and coHe<::tion, upon the indebtedness secured by this mortgage; said rents. issues and profits being hereby assigned to the Mortgagee as further security for the payment of all indebtednpss st."l~urerl hereby. The- Mortgagee shall have the power to appoint any agent or agents it may d€'sire for thE" purpose of r('pairing said premo ises; renting the .me; collecting_ the rents. revpnues and income, and it lUay payout or said im..'Omp aU expt~ns('s incurred in rent. ing and managing the same and of collecting the rentals theretrom. ThE' balance remaining. if any, shall hE> applied toward thE" discharge of the mo_rtcage ind~btedness. This assignment is to terminatt' and bPcome null and void upon rf"It'8st> of this mortgage, L