|
<br />~~~' ash+086
<br />ti: For better security of.the indebtedness hereby secured, upon the request of the mortgagee, its successors
<br />ar assigns, tttangagor shall execute and deliver a supplemental mortgage or mortgages covering any additions,
<br />itripnavements, or laertermems .made. to the property hereinabove described and all. property acquired by it after
<br />the date hereof {ail in fottn satisfactory to mortgagee). Futhrrmore, should mortgagor fail to cure: any default
<br />-__in r ., t.ox,t«:n .;; a}.,,.. w .F. :^:........d....vc.Kr...: -~T, <.::-yr3~p...ay d.:&v t;...d ~; ti:.> ~...:.........,, ...!.a_o *: herg_.
<br />by ac;rees to permirmortgagee to cure such default, but mortgagee is not obligated to do so; and such advahces
<br />shat bz~°ame part of the indebtedness secured bythis instrument, subject to the same terms and condirons.
<br />~°. The rigftts ereatat by this canveyancr shah remain. in full force and effect during any postponement or
<br />ezter~sion of thi=time of the payment of f1:c indebtedness evidenced by said promissory note or notes, or any
<br />pan thereof secure hereby.
<br />C Ta 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 promptly
<br />wheni-due any premiums t4trrrfor. All insurance shall be carried 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 sled<in form acceptable to the mortgagee. to event of toss, mortgagor wilt give immediate notice. to writing
<br />fo mortgagee, and mortgagee may make proof of lass if not made promptly by mortgagor, and each insurance
<br />com;zany concerned is hereby authorized and directed to make payment for such toss directly to mortgagee
<br />instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied
<br />by mortgagee ar its option either to she reduction of the indebtedness hereby secured or to the restoration or
<br />repair of the property damaged or destr.ryrtl. In event of foreclosure of this mortgage, or other transfer of title
<br />to said property in extingttishrrnt of the indebtedness secured hereby, all right, title, and interest of the
<br />mor¢gagac in and to any insurance policies then in force shall. pass to the purchaser or mottgagee or, at the
<br />option of the mottgagee, 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 />pernsit, comrarit, 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 />improvemems thereon, in good repair, she mortgagee tray make such repairs as in its discretion. it may deem
<br />nrc-.essaty for the proper presen~ation thereof; and ihr full amount of each and every such payment shall be
<br />immeriiately due and payable; and shall be secured by the lein of this mortgage.
<br />h. To nat. voluntarily orate or permit to be seated against the properly subject to this mortgage any lien
<br />ar liens inferior ra the itrn nt thee mortgage without wrhten consent of the mortgagee; and father, rhos mort-
<br />gagor wYll keep and maintain the same free from the c9aim of all persons supplying tabor or materials for con-
<br />struction of any and all buildings or improvemenu now being erected or to be erected ztn said premises.
<br />i. To trot :rent or assign any part of the rent of said mortgaged property or demolish, ar remove, or
<br />substantially alter any izuilding without the written cattcenz of the mortgagee.
<br />j, Ail awards of damages in sozmcction with any candrmnation for public use of or injury to any of the
<br />proptxty subject to This mortgage are hrrclry assigned and shaft be paid to mortgagee, who may apply the same:to
<br />payment of the installments fast due. under said mate, and mongagee is hereby authorized,. in the.name-of the
<br />mortgagor, to execute and. deliver valid aputtances thereof and to appeal from any such. award.
<br />k. T7te mortgagee shall home the right to irrspect the mortgaged premises at any reasonable time.
<br />f. To comply with rite pmsisians of auv t; if this Svtastgage is art a leasehold. if zt-as tsRcrtgage is an a
<br />amt-in a condominium. or a jrlanmed unit rkti°elopmtnt, Borrower shah perform sit of Borrower's obligations
<br />uardr, the- deciaratian rsr covenants mating or governing the coardorniniunt or planned unit drveiopment,tfte
<br />by-taws and regulations at the condominium ar planned unit development, and caasutuent oac;umcnts.
<br />,~,, l]efault in amp of the coverants ar conditions of Phis imtrument ar of the note or loan ageexnent secured heretry
<br />shat) te•9ttitratt ttrc ntartgagor's right to pussrssiotr, tree, and rnjoytnent of the. property,. at the option of the
<br />mortgagee os as^sigar {it being agreed ttrat.alte mortgagor shall have such right unlit default). Upon any such
<br />default, the rittmgagsx shall bss>ocne the owtrerof alt of the rents and profits accut'ittg after default as security. for
<br />the intiebtcdM:ss sxutrd hereby, .with. [he tight to timer upon said property for the purpose of coltceting such
<br />rents and profits: "Phis ttstrurctes t;shali operate as an assignment a% any remote an said orapcrty to that extent.
<br />3. [f the mortgagor defaults, and faits to make say payments when due or to conform to and comply with any of
<br />the ~onditians <x agreements contaittrd in this mortgage or the notes which it secures, then the err+sre principal
<br />Sum and act-ntrai intcr~t shall at atit~ 15xoratt due sad payable,. and straw " per cent ( ~€3 •'} interest
<br />rheraafecr tamil paid at the xlectiorr of tiie mortgagee, and this morrgage may thereupon be forecioscd immediately
<br />fc;r the wftaie of ehe indebttdttes9'hetcby securest, ihduding the cost of extending the abstract: of title from the
<br />date of this mertgatsc to the: time.afi carnmenc~ing such suit. *Eiglateert Percent:
<br />a. in ;he event of a forcciosurt or default as pravidcd;huein, tars mortgagex shall at once be cntit}ed to the pas-
<br />see<.iom, xrsc, and enjoyment of iht ceai estate aftaresaid' and to the tens, issues, royalties, and: pmfits .thereof:
<br />tram the aceYteing nt such riutres and dining the pendency of farertasure praccedtngs :ennst su, h possessiorts; etc:.,.
<br />shat at nncz ~~ ddiroerrJ 'a chc mortgages upon rcqurt,,upan-failtare such:dClivzry e+ s~.ich passes tart may* bt
<br />xnfrncsti by mortgagee, by any apprnpriaic legalproceediagtc, inctuditrg a receiver tttr the j,ropert,,
<br />5. Ttte erc>,rcals a:s any ;sic :~f said prupr:te~ to aecorstance strith the preceding paragrar~its shall br applied t5rst to
<br />pay ;ter tit+s.is ;snot expc;tses of atC lair, tttr cKt'rCtaccs iraurrad tsy..the martgageoe far rim: pttrptrse af' protretinp;. or
<br />mataasx+rtcrcyt x6siw p.:>trrey, s;5carxily..a teat' the ?'+clcot~:iritss srcttred hereby; and rittrdty, ter pay atxY' sttrpltrs err
<br />Pay. ;-~s [.,, She teersc+c e,r t+tr~~1i: ~= trgtnlCy rntsttei tl~resa.
<br />
|