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1~ <br />1 <br />~~~~~~.14~41`y.' <br />d, For better security of she indebtedness hereby secured, upon the request of the mortgagee, its successors <br />otr assgats, mortgagor shall exceute and deliver a supplemental martgage or mortgages covering any additions, <br />`snnprdvements, or betterments made to the property hereinabove described and all property acquired by it after <br />' ttte 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 6y this instrument, mortgagor here- <br />by agrees to permit mortgagce to cure such default:, but mortgagee is not obligated to do so; aad 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 />extension of the isms. of the payment cf the indebtedness evidenced by said promissory note or notes, or any <br />part thereof secured hereby, <br />f. To eontinuoasty maintain hazard insurance, of such type or types and in such amounts as the mortgagee <br />Wray-from time to limo require on the improvements now or hereafter on said property, and will pay promptly <br />when. due-any premiums therefor, All insurance shalt be carved in companies acceptable to mortgagee and 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 [o 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 mortgagor,. and each insurance <br />company concerned is hereby authorized and directed to make payment for such loss directty to mortgagee <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 tithe <br />to said property in extinguishment 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 the purchaser or mortgagee or, at the <br />option of the mongagee, 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 property or any part thereof; 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 may deem <br />necessary far the proper preservation thereof; and the full amount of each and every such payment shall be <br />.immediately due and payable; and shall be secured by the lain of this mortgage. <br />h. To not voluntarily create or permit to he created against the property subject to this mortgage any lien <br />or liens inferior to the lien of this mongage without written consent of the mortgagee; and futher, that mort- <br />gagor wilt keep and maintain the same fees 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 erected. on said premises. <br />i. To not rent or assign any part of the rent of said mortgaged property yr demolish, or remove, or <br />substantially alter any building without the written consent 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 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 Warne. 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. to inspect the mortgaged premises at any reasonable time. <br />1. To comply with the provisions of any rase if this Mongage 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 />urtder the: dectaratian or covenants creating. or governing the condominium or planned unit developtnettgthe <br />by-laws attd reputations>o$:the condominium or planned unit development, and constituent documents. <br />2. t3efault in aayof 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 />mortgagee or assigns {it: being agreed that. the" mortgagor shall have such right until defau[y. Upon. any: such <br />default, the,mortgagee shalt becort£e the owner of all of the rents and profiu accuring after default. as security .for <br />the,ndebtedness secured hereby, with the. right to enter upon said property for the purpose of collecting such <br />rents_and profits. Phis instrument shall operate as anassagnment of any rentals;on said. property to that extent.: <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 "rn this mortgage. or the notes wltieh it secures, then. the entire principal <br />sum and atxrued interest shall at once become due. and payable, and draw * per cent {~,S1.,~10) interest <br />thereafter until paid at the election of the inartgagee; and this mortgage tray thereupon: be foreclosed. immediately <br />for [ht wltOle of theindebtednessnereny seCtired, tn4`tudngte`tc last of a.,.....xd.,.a the ~hztrart of title from the <br />date of the; mortgage to;the time of commencing such stall. *~ghCeen Percent <br />~t. In the evert of a foreclUSUre ter.dGfauitasrpravded.herein,,the mortgagee shall at once be entitled to the pos- <br />session, use, and enjoyment of the real estate afot'e:±aid and to the rent, issues, ro}~aitles, and profits. thereof, <br />frcun the a~:cruing of such rights and during the pemdency-of foreclosure proceedings and such possessions. ate., <br />shall at suer bt ,letiveretf to the mortgagee upon request. upon failure such delivery of such possession may be <br />rri [~rccd 5} ntarrgyigte, by any appropriate kga! proceedings, ins:luriing s receiver foe the property. <br />S. "I}at ,=rcxcti~ri of any .sale of said. progeny in accardancs wish the preceding ;mragraphs shall ~ applied first to <br />pay tits :;*yu and expetrses of said-sale, the cxpenctsSnx~axrrocl by the mortpag~ee for the. purpx~se of prcrt~`ting r+r <br />Brasint~i;tiezg `said progeny, sec;xntlly, to-.pay the ist>:tchtedn~.5 securt^rl hertla>~; and thirdly, t,.~ pay arty surphts of <br />e+::_r_~y .~ ct<~ person csr persona. ie~a[lty entitled tlect'cto. <br />