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<br />.84 -003576
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<br />d, For bener security of the indebtedness hereby secured, upon the request of the mortgagee, its successors
<br />or assigns, mortgagor shall execute and deliver a supplemental mortgage or mortgages covering any additions,
<br />improvements, or betterments made to Ihe properly hereinabove described and all properly acquired by it after
<br />the date hereof (all in form salisfactory 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, bul morlgagee isnol obligaled to do so; and such advances'
<br />shall become pari of the indebtedness secured by this instrument, subject to the same terms and conditions,
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<br />e, The righls 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 prOlnpt!y
<br />when due any premiums therefor, All insurance shall be carried in companies acceptable to'mortgageeand,the
<br />policies and renewals thereof 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 notice in writing
<br />to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgager, and each insurance
<br />company concerned is hereby authorized and directed to make paymenl for such loss directly to mortgagee
<br />instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied
<br />by morigagee at its option either to the reduction of the indebtedrless hereby secured Or "to lhe~ restoratiofi~ or
<br />repair of the property damaged or destroyed, In event of foreclosure of this mortgage, or other transfer of title,
<br />to said property in extinguishment of the indebtedness secured hereby. all right, litle, and interest of the
<br />mortgagor in and to any insurance policies then in force shall pass to the 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 "'1 said property in good repair and condition; to
<br />permit, commit, or suffer no waste, impairment. ~~terior~.,on of said property or any part thereof; 'in the event
<br />of failure of the mortgagor to keep the buildi,,~3 on said premises and those erected on said premises; or
<br />improvements thereon, in good repair, the mortgagee may make such repairs ~,S in it, discretion iJ may deem
<br />necessary for the proper p.cservation thereof; and the 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 voluntarily create or permit to be created against the property subject to this mortgage any lien
<br />or liens inferior to the iien of this mortgage without written consent of the mortgagee; and futher, thai 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 erected or to be erecled on said premises,
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<br />i, To 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 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 Ihe
<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 />1. 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 shall perform all of Borrower's obligations
<br />under the declaration or covenants creating or governing the condominium or planned .unil 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 the
<br />mongagee or assigns (it being agreed that t.he 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 accrued interest shall at once become due and payable, and draw 15.~ per cent ( l5.">) "70) interest
<br />thereafter until paid at the election of the mortgagee; and this mortgage may thereupon be foredosed immediately
<br />for the whole o( the indebtedness hereby secured, induding the cost of extending the abstract of title from the
<br />date of this mortgage to the time of commencing such SUJt.
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<br />4. In the event of f! foreclosure or default as provided herein. the !!1Dngagre shaH at on,-~e be enlill~~d to the pos-
<br />session, use, and enjoyment or the real estate aforesaid and 10 t.he rent, i<;~ues. fuyaltil,.-':s, and profits t.her('of,
<br />from the accruing of such right.'} and during thl: pendency of forcdosurc procee.Jings and .'ilh.:h r()sscs;)ion~. etc.,
<br />shaH at once be delivered to the mortgagee- upon r(.'quC~t. upon fadurc ~lJ(:h delivery ur sUl..'h po~sL';~:;,iUlJ may h.'
<br />enforced by mortgagee, by any appropriate legal pl'ocecding~. including d re..:ei\cr for the propeny.
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<br />5. The proceeds of any ':laic of ..aid property in act:0rdancc with the pn:=.,:t:ding par~ig..aph-., ~h;.1t! he appilt;d i lrq
<br />pay the \,:osh and (:xper1.'>C5. of said sale, !he C\IH.::ncc;.; iJlt:urrcd by the murtgagt'{: for th..: p\J!pu:-,( pi fH'i:)i(l.--tln~~ ,1r
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<br />mainta:ning ~.a:d propcny. \e::-o-mHy. lQ pay the inJ.:hti'dne:<, ,'~...;:ua:d !;'."I;..b.L ~H;d th~~dh-.
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<br />p.:r}- ~,\;~:' '1U':+_~-,
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<br />execs..", to the pCf:\on or pc-n.ons legally entitled rh".'n:t.J
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