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<br />THE MQ?RTGAGOR PURTI3ER CQVENANTS AND AGREES:
<br />That the Mortgagor will 'pay the indebtedness as herein before provided,
<br />That .the Mor~.gagor is the 6wner of said property in fee simple and has good right and lawful authority to sell and
<br />convey the same and that the same is free and clear of any lien or encumbrance; and that Mortgagor will warrant and. defend the
<br />title to said -premises against the daimv of all' petspns'- whomsoever.
<br />- To pay immediately when due and'payableafl genezal taxes, special..taxes, special assessments, water charges; sewer serv-
<br />ice charges, and-other tales and charges against said property, and al! 4axes levied on the debt secured hereby, and to furnish the
<br />Mortgagee, upon request, with the' original--or duplicate receipts therefor. The Mortgagor agrees that there shat] Fx: added to
<br />each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by 4he Mortgagee
<br />to 6e su6tc3ent to enable the Mortgagee to pay. as they become due, aH taxes. assessments, and similar charges~upan-.the preen-
<br />ises stibjectthereto; any deficiency because of the insufficiency of such additional payments shall he forthwith deposited by 4ttr
<br />Mortgagor with the Mortgagee upon demand by the D4ortgage e. Any default under this paragraph shall he deemed a default in
<br />payment of taxes, assessments, nr similar charges required hereunder.
<br />The Mortgagor agrees that there shall also be added to each monthly payment of principal. and interest required here-
<br />under an amount estimated by the Mortgagee to be sufficient to e. noble the Mortgagee to pay, as it becomes due, the insurance
<br />premium on any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pay-
<br />. mertis shalt be forthwith depaeited by the lvfortgagor with the Mortgagee upon demand. by the Mortgagee. Any default under this
<br />paragraph shall be deemed a default in the payment of insurance premiums. If the policy or policies deposited are such ac trcame-
<br />owners or aft risk po}icies, and rho deposits are insufficient ro pay the entire premium, zhe >4rrrtgagee may apply the deposit to
<br />pay premiums on risks required to tae insured by this mortgage.
<br />Payments made by the Mortgagor under the abocr {>aragraphs may. at the nntinr, of the Mortgagee, be held-by it and
<br />commingled with other such funds nr its e>wn funds for the pacmane of uch itenes, sort until sn applied- such naymenta, are hereby
<br />pledged a-s security for the unpaid batanre of the m+arf pose indebtedness.
<br />- Tn procure, deliver to, ar:d maintain for the benefit of the 'lfnrtgagee during the life of [has mortgage original policies and
<br />renewals thereof, delivered at least ten days before the ex pi rs lion of any such polir~aes, insuring against fire and other tnsuratrte
<br />hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal 4o the indebtedness secured by this
<br />Mortgage, 2nd in companies acceptable to the btortgagre. with Inns payable clause in favor of and in form acceptable to the Mortga-
<br />gee- In the evenC any policy is not renewed on ur hefiur ten days of iLS expi ratenn. the Morl gagee may procure insurance. on the
<br />improvements, pay the premium thecafor, and such um :}x;ll bec>me immr~ttazety due and payable w._-. -. a.•rest. at the rate set
<br />forth in said note antil paid and shall i>e secured 6y tleen mortgage Failure on the part. of the Mortgagor zo Cornish such renewals
<br />- as are herein required uz failure to pay any sums advanrrd he rrunder shalh at the option of the Mortgagee, constitute a default
<br />under the terms of Yh4s mortgage. The delivery of such po!u•iec shall, an the .event of rlefauft, rsmstitute an assignment of the un-
<br />earned premium.
<br />Any sums reserved by the Mortgagee by reason a,f loss or damage insun•d against may he zetainerl by the Mortgagee
<br />and applied toward the payment of the debt hereby secured, or. a4 the option of tree Mortgagee. such sum. Tither wholly nr in
<br />part may be paid over is the Mortgagor to ~ used to n-pair such builrGngs or to build new buildings in their place or tnr any
<br />- other purpose nr object satisfaMory to tree Mortgagee wilh.nit affecting ibe ;ten .,n the mcrtgage for the foil amount srr_urrd here-
<br />- by before such payment ever tcxak 1>laca
<br />To prcamptly repair, restore nr rebuild any building. <, maprc,vemer. is now .,r hereafter nn the premises which may be-
<br />eome damaged or destroyed. to t.eep said pre-miss in grxad condi4un epa:r sort fr.•r rrom any mechanic's lien nr other Lien sir
<br />claim of lien not expressly sutbrdinated !o the lien hereof: not to suffer nr Hermit any unlawful else of or any nct3sance to exist on
<br />said property nor to permit waste nn said pre-rnix s, nor to do any nthc•r act where•hv the (uoperty hereby conveyed shall become
<br />less valuable, nor 1o diminish nr irnpav its value by any act •r a:mi star. to aet~. to amply wdth al! requirements of law with respect
<br />to the mortgaged premises anti t..he use thereof.
<br />Thai should the premises ur any part thereof be taken or riamaged by reason oC any public improvemr€nt or ~~ondemnation
<br />proceeding, or under the right of eminent domain, or in any other manner, the Mortgagee shall be entitled in all ci;nipensatliiivs;
<br />awards, and any other payment or relief eherefur, and shall be entitled, at its option, to entnrnence, appear in and pnnecute in rats
<br />own name any action or proceeding, cr to make any compromise nr settlement in connection with such taking or damage. Ail such
<br />compensation, awards, damages; right of action and proceeds are hereby assigned to the Mortgagee, who- may, after deducting
<br />therefrom ell :its expenses, release any-moneys so received by it. or apply the same on any indebtedness secured hereby. The Mwt•
<br />gagor agrees: to. execute such further assignmen Ls. of any comlaensa4ion, awards, damages, and raghts of action and proceeds as the
<br />Mortgagee.:may require-
<br />That in case of failure to perform any of the covenants herein, the Mortgagee may do ran the Mortgagor's behalf everything
<br />so covenanted; that the Mortgagee may also do any act it may deem necessary to protect the lien thereof; that the Mortgagor will
<br />repay upon demand any moneys paid or disbursed tiythe Mortgagee far any-ot the above purposes, and such moneys together with
<br />interest thereonatthe rate provided'in said nofesball become so much additional indebtedness hereby secured and may be in-
<br />dudedia any decree foreclosing. this mortgage and tae paid nut of the rents or proceeds of sale- of. said premises if'not. otherwise
<br />paid; that itshalf not be obligaWry ulwn the Mortgagee to inquire into the validity of any Gen, encumbranrxs, or claim in ad-
<br />vaaciiog: moneys. asr above authorized, butnothing herein contained shaft tee construed as requiring the IV7ortgagee. to advance any
<br />moneys-.forary such-purpose norto. do any act hereunder; and That Mortgageeshalt not incur arty. Re rsunal. Liability because<>f any-
<br />. thing-iC may: door omit to dohereunder.
<br />In the event of the default by Mortgagor in the payment oC any installment, as requirrri by the Note secured hereby, or
<br />inthepe~formance of the obligation in this. mortgage or in the note secured (hereby, the Mortgagee shalt be entitled. to declare the
<br />debt secured hereby due: and payable without.. notices, and the tiSortgagee shall be zntitted at its option, without notice; either by itself
<br />or by a receiver to be appointed by the court thereof, and withovi regard to the adequacy of any security for thendebtedness se-
<br />cured here-by, to enter upon and take pas.Re4sion ofthemoregaged premises, anti iocol}ect and receive ine rents- issues.anu); ro8is.
<br />thereof, ands aRP{Y the same, ,less rnsts ob operation sod°rnllection, upon the indebtedness secu red by- 4his mortgage: said rents,
<br />~. issues and pivfiffi lreinghereby assigned<to they Mongageeas further security for the payment of alt indebterness ,secured hereby.
<br />The Mortgagee shall have the power to appuin2 any agent or agents it may desire for the purpose of repairing said prem-
<br />. ices;: renting the same; collecting the rents, revenues and income, and it may pay out of said income ail expenses. incurred in rent-
<br />ing and managing the same and of collecting the renta}s therefrom. The balance remaining, if any, shall be applied toward the
<br />discharge of the mortgage indehtedne u. This assignment is to terminate and kreconre null and void upon release nt this mortgage.
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