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<br />T~~R,~,~HER COVENANTS AND AGREES:
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<br />J' 3~ct:J S// OJ'
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<br />That the Mortgagor wiJI pay the indehtf>dness as hereinbefore provided.
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<br />Th~t1~~~;.~M~!tg~8'or is the 6wn'er_: of: ~ai~- .Pl"~pe~y.:.: itl lee :,' si~ple-' ~1I~ /UifJ ,,:gOO(i, ?igr~' :,8,nd-,_ lawful - authorir.y to~: ~II and
<br />convey the ,s~~<~ ~~ !U;'at,-_~,~S8~~..-~is"f~ee and'"cle-ar-of'any' llen- or encumbranCfu; and'- that"Mo-rt'gagor- will" warrant' and--defend-- the---'
<br />title to said premises agaitlsf-,th'e--claims of all persons whomsoever.
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<br />T~: pa~ immediate~Y~:~h:~,tl~:d~k,.:~~~~p~y~~.re_,~lI__:g_~?~lilJ.''tax.~s~ !"Peei?l; taxes. special assessments, water ~harges~ sewer ~SI?r~_~
<br />ice charges.. <:i~_d. other taxe5'-,,~:4f'L~arg~La~inst:_~8.i'cf~])ro~riy:-at1(t_;aU_:ta_x(!S~levied on thl' debt secured-hereby._~'~d:_'to'-f':I.rn:is~;:th~'
<br />Mortgagee", 1JPOn :-req~e9t._: With the, original < or<.dupliCate -,~eipts,_ therelor: The':-~ottgago:r ':agrees- -that there- ~han:~be' ~ded~.to
<br />each monthly payment -required hereunder or under the evidenc(' -of deht secured hereby a-n"amount estimated hy the Mortgagee
<br />to be sufficient to e-nable the Mortgagee to'-pay, as: they_ become due. ,all-'-taxes, assessments, 'and similar charges upon the'prem~
<br />ises subject- .~he_~~t9:; __aJ}~., :q~tJc~e~~~ _b~_{:au,se of the insufficiency of such additional: paY,me_nt!?_ ~hall_ he fQ,rthwith d~ppsiwd.. by.___th~_
<br />Mortgagor ;,~~h"-,::, the'", ~<<?:~tgage~, u~,~t'~:<<:fel.nand by, the- _ Mortgagee., ,~ny ,default under- this paragraph shall' be'_ deemed ---a-~defau1f-in
<br />payment of taxes', assessments. or similar charges' re-quired hereunder. .
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<br />The Mortgagor, agrees -that there shall also be added 'to- each :monthly 'payment of principal and -interest"'Tequi~e({ here-
<br />under an amount estimated by the Mortgagee to be sufficient to enahle the Mortgagee to pay, as it becomes due, the insurance
<br />premium Or) any insurance policy delivered to the Mortgagee. Any deficiency because, of :the, insufficiency, of ,such additional: pay-
<br />ments shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br />p~ragraph shal,! be deemed a default in the payment of insurance premiums. If the policy or pQli,cies deposited~are such, as_ nome.
<br />owners or all risk polidps. and the deposits are insufficient to pay the entire premium, 'the Mortgagee nTaY a-pply- the deposit to
<br />pay premiums on risks required to be insured by this mortgage.
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<br />Payments made by the Mortgagor under the ahovf' paragraphs may, at the option of the Mortgagee, be- held - hy it and
<br />commingled with other such funds ,or its own funds for the payment of such items, and until so applied, such payments are nereb~'
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
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<br />To procure, deliver to. and maintain for the benefit of th~ Mortgagee during the life of this mortgage original pollci€'s and
<br />renewals thereof, delivered at least ten days before the expiration of any such policies, insuring, against fire and other insurable
<br />hazards, casualties, and contingencies 88 the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br />Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the !\.fortga-
<br />gee. In the event any policy is not renewed on or before ten days of it...;. expiration, the Mortgagee may procure insurance on the
<br />improvements, pay the premium therefor. and such sum shall necome immediately due and payable with interest at the rate set
<br />forth in said note until paid and shall he ::;ecured by this mortgage. Failure on t.he part of the Mortgagor to furnish such renewals
<br />as are herein required or failure to pay any sums advanced hereunder shall, at the option of the Mortgage-e. constitute a default
<br />under the terms of this mortgage. The delivery of such policies shall. in the pVf'nt of default, constitute an assignment of the un.
<br />earned premium.
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<br />Any sums received by the Mortgaget' hy reason of loss or damage insured agajnst may be retained by the .Mortgagee
<br />and applied toward the payment of thf' debt hereby secured, or. at thp option of the Mortgagee. such sums either wholly or in
<br />part may be paid over to the Mortgagor to be used to repair such buildings or t,o build' new buildings in their place or for any
<br />other purpose or object satisfactory to the Mortgagee without affE><'ting- the lien on the mortgage for the full amount secured here-
<br />by before such payment t'ver took place.
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<br />To promptly repair. restore or rebuild any buildings () r improvements nuw or hereaftt>-r on the premises whit:h Inay be-
<br />come damaged or destroyed; to keep said premises in good eandi tion and repair and free from any m€chanic's lien or other lien or
<br />claim of lien not expressly subordinated to the lien hereof: n'i.1t to suffer or permit any unlawful use of or any nuisance to exist on
<br />said property nor to pe-rmit waste on said premises. nor t(~' do' any other act whereby the property hert:by conveyed shall become
<br />less valuable, nor to diminish or impair its value by any ad or omission to act. to ('om ply .....ith all requirements of law with rf'spect
<br />to the mortgaged premises and the use tht:reof.
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<br />That should the premises or anv part thert>of he- taken or damag~:.d hy reason of an.\' public improvement ur l'()ndemn~ti()n
<br />proceeding, or under tht:'- right of eminent domain, 0, in any other manner. the Mortgagee shall be E'ntitle~ to all compensatIOns:
<br />awai-dS; and any other paymt::nt or relief then.for. and shall bt! en tided, aL it..:; ~'l-'~Juu. Lv o.;U~IUlJCJ~"'''', ....f-JP~......l" _~Jl .aud p,n.>o-l,.";Utu HI it;,;
<br />own name an\' action (l(} ~~'X. qr to make any compromise or settlement In connectIOn With such taking or damage. All s~ch
<br />f - rd Ilm.i~'..iehllof acti9n' and proceeds are hereby assignf'o to the Mortgagee. who may, after deductIng
<br />~=:~= l:l~'i~w:XI::~Ses., release any moneys. ~o received by it or apply the same 1>11 any iO(h'b~ednt'ss :;e{:~red iwwby. The ~lort.
<br />gagor agrees to execute such further assignments of any compensatIOn, awards. damagt's. and rIghts of action and f?rocE>f'{ls as the
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<br />Mortgagee may requite.
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<br />Tha.t,in case of failure to perform any of the covenants herein. the Mortgagee may du ~.n the Mortgagor's behalf everythi~g
<br />so CQvenanted; that the Mortgagee may also do any act it may d.eem neCf>ssary to protect thif' lien thereof; that the Mortga~or ~lll
<br />re a upon demand any moneys paid or disbursed by the Mortgagee for any .o~ tht.> ~b~ve purposes, and such mont:'Ys toget~er w~th
<br />in~:est thereon at the rate proyided in said note shall become so much additIOnal mdebtedness her~by sc('u.red ~nd may ht-> In:
<br />eluded in'any decree foreclosing this mortgage and be paid out of the rents or p,ro,ceeds of s.al~ of sa1(l premises If not. .oth~rwjM
<br />-d; 'that 'it shall not be obligatory upon the Mortgagee to inquire into the vahdlty of any .h~n, f'ncumbrances, or claim In ad.
<br />~cin moneys as above authorized, but nothing herein contained shall be construed as. reqUlrmg the Mor~ga~~e to adv~nce any
<br />money: for any such purpose nor to do any act hereunder; and that Mortgagee shall not lllC'ur any pt'rsonal habillty Iwcause of any-
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<br />thing ii may do or omit to do hereunder.
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<br />In the event-of the dehlUlt by Mortgagor in the payment of --any installment, as required by the Note .secure-d herehy, or
<br />in-the_-perlonnance, or. the obligation il) this mortgage or in the note secured thereby: the M~rtg'~g~e sh~Jl be t'ntJ~IN t~) dedar~ the
<br />debt secured hereby due and payable wit.hout no~ice, and the Mortgagee shall be- enbtled at Its optlon, wI~hout lIotlc~, either hy t~S€1f
<br />or by a recei....er to be appointed by the court there:of. and withou t re-gan! to the adequacy of any $~cunty for tht,. mdebtedness se~
<br />C;~t~ hereby, to-.enter_ upon~,and take_ pQsSeSs'ion_of the mOTtga~ed IJrcmlses, .a~d to collect and~ recel\'e thf<', ~ents. Issue~ a~",~ pr~fiL
<br />the,reQf) and -apply the"same~,.l~ ,costs of operation and collectIon, upo~ the mdebtedness secur~d hy ~hls. .~~rtgage, S~I:J ~(,_nts,
<br />~~e$.,:~,pron.t.8_beinK hereby assignep to the Mortgagf!e as further secunty fQr the paymt'nt of alllOdebtt,dness :o<l-'Cured hcn.by
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<br />The- Mortgagee- shall have the power to_ appoint any agent -or a~cnt.s it may dcsin! _~or. the purpose o~ Te~~jr-i,ng sai~ prem~
<br />i&es' renting the, saIne' coHeding the rents. revenues ilnd income, and It may payout of !>aid. l~come all exp(,l)ses 1O~,urr-ed In rent
<br />in 'and managing ttre'same and of c-oJleding_ the rentals therefrom. The balance remaining. If ~ny, shall he-.apphed. toward the
<br />di:Charge or the me;dg.ace inde_b.t.ed_n(':S$~ This assignm-ent is to terminate and ben.lInt' null ami. V(lld upon n~h'8.-~ of thl;.. mortl'age.
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