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84 r 001998
<br />d~or,better security n( the indebtedness hereby secured, upon the request of the mortgagee, its successors
<br />or asshgr~s,`fi~rfgL~itr shall execute and deliver a supplemental mortgage or mortgages covering any additions,
<br />improvements, or betterments made to the property hereinabove described and all property acquired by it after
<br />the date hereof (all in (orm satisfactory to mortgagee). Futhermore, should mortgagor fail to cure any default
<br />in the payment of a prior or inferior encumbrance on [he 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 and conditions.
<br />e. The rights created by this conveyance shall remain in full force and effect during any postponement or
<br />extrnsion 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 mortgagce
<br />may from time to time require on the improvements now or hereafter on said property, and will pay protntitly
<br />when due any premiums therefor. All insurance shall be carried in companies acceptable to mortgagee attd4he
<br />policies and renewals thereof shall be held by mortgagee and have attached thereto loss payabie clatrses. in favor
<br />of and in form acceptable to the mortgagee. In event of loss, mortgagor will give immediate noticx in writing
<br />to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each instttrance
<br />company concerned is hereby authorized and directed to make payment for such toss directly to rrtortgagee
<br />instead of to mortgagor and mortgagee jointly, and the 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=tide
<br />to said property in extinguishment of the indebtedness secured hereby, all right, title, artd interest of tha
<br />mortgagor in and to any insurance policies [hen in force shall pass to the purchaser or mortgagee or, at the
<br />option of the mortgagee, may be surrendered for a refund.
<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 propt~ty or any part tltereof; in the event
<br />of failure of the mortgagor to keep the buildings on said premises and those erected on said premises, or
<br />improvements thereon, in good repair, the mortgagee may make such repairs as in its discretion it rttay deem
<br />necessary (or the proper preservation thereof; and the full amount of each and every such paymem shalt be
<br />immediately due and payable; and shall be secured by the lein of this mortgage.
<br />h. To not voluntarily create or permit to be created against the properly subject to this mortgage any lien
<br />or liens inferior to the lien of this mortgage without written consent of the mortgagee; and father, that mort-
<br />gagor will keep and maintain the same Free from [he claim of all persons supplying labor or materials for con-
<br />strucnon of any and all buildings or improvements now being erected or [o be erected on said premises.
<br />i. 'T'o not rent or assign any part of the rent of said mortgaged property or demolish, or remove, or
<br />substantially alter any building without the written consem of the mortgagee.
<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 arr hereby assigned and shall be paid to mortgagee, who may apply the same [o
<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.
<br />k. The mortgagee shall have the right [o inspec the mortgaged premises at any reasonable time.
<br />L To comply with the provisions of any laase if this Mortgage is on a leasehold. If this Mortgage is on a
<br />trait in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations
<br />under the declaration or covenanu ereaung or governing the condominium or planned unit development,the
<br />by-laws and regulations of the condominium or planned unit development, and constituent documents.
<br />2. [fault in any of the cvvenanu or conditions of this instrument or of the voce or loan ageement secured hereby
<br />shall terminace 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 uo[il default). Upon any such
<br />default, the mortgagee shall become the owner of all of the rents and profits accurittg 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 protiu. This instrument shall operate as an assignment of any rentals on said property to that extent.
<br />3. If the mortgagvr defaulu, and fails to make any payments when due or to cuntorm to and comply with any of
<br />the conditions or agreements contained in this mortgage yr the nvtes which it secures, then the entire principal
<br />sum and accrued interest shall at once become due and payable, and draw _____._ per cent (~_%) 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 mongage to the time of commencing such suit.
<br />4, In Ctr evem of a foreclosure or default as provided herein, the mortgagee shalt at once he enutled to [he pos-
<br />r~ssion, use, and enjoymeat of the real estate aforesaid and ro the rent, issues, royalties, and profits thereof,
<br />from the accruing of such righu and during the pendency of !'oreclasure proceedtngs and such po,nessions, etc.,
<br />shall at once be delivered to the murigagee upon reyuest, upvu failure such deliver}' n[ sash pussessiou may he
<br />enfor-ed by mortgagee, by any appropriate Icgal proceedings, including a tc~sciver fvt the property.
<br />S, The proceeds v( any sale of Bard property m accvrdauce with the prsadmg paragraphs ,hali he ,rpphed trr~t to
<br />pay the costs and exprnst.•a of xatd sate, the experacca .ncurrtxf by ;be mortgagee !ut the {?urpusr of pr ote.'ttu~ eu
<br />mairuamutg said luopcrth eecondty, to pay the tudrb[edness se,u,eci iterehg: anel ihtrdi}, t,t pse sna ;urplu. v~
<br />ex~tsa to rh¢ perstsn set persona Icgaily cntrticd thrreia.
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