|
„4
<br />d. For better security oi' the indebtedness hereby secured, upon he request. of the mortgagee, its successors
<br />ar assigns, mortgagor shall execute and deliver a supglementaF mortgage or moctgages covering-any_ additions,
<br />~ improverents, or betterments rnadeta the property herenabove described-and all ..property acquired by it after
<br />the date hereof (all in form satisfactory to rnartgagee} F`uthertnore, should mortgagor fat; ro cure any default
<br />~ ,n the payment of a prier or tnferior encumbrance on the property described by this instrtrment, mortgagor here-
<br />,.,,.t by agrees to permit mortgagee to Cure such. default, but: mortgagee is not;abligated: to da so; and such advances
<br />~ shalt become part of the indebtedness: secured by this mtrument,_subject to the same terms and conditions.
<br />e. The rights created;: by,this eonveyrartce shall remairc is.full force and. effect during any postponement or
<br />extrusion of the time of the payment of thesndebtedttess evidenced. by said.: promissory note ar notes,. or any;
<br />N par, thereof sew.-ttted hereby.
<br />~~ f. To .rontimtausty maintain hazard insurance, afsuch type or types and in such amounts: as the mortgagee
<br />may from erne to time require an the improvements now or hereafter on said property, and will pay p:omptly:
<br />when due any premiums therefor: All insurance shall: be carried in companies acceptable to mortgagee and the
<br />policies attd renewals thereof'shall be held by mortgagee and have attached thereto loss payable ctatises in favor
<br />of and in form acceptable to the mortgagee. In event of loss, mortgagor will. give immediate notice in writing
<br />to moRgaget:; and mortgagee may make proof of loss if not made pi•amptiV try mortgagor, and:each.insurance
<br />cwnpany 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 insnrance-proceeds, or any pan thereof, may be applied!
<br />by'mortgagecariu option eithee to the reduction. of the. indebtedness hereby secuccd or to the restoration or
<br />repair of the: property-damaged or destroyed. [n event of foreclosure of this mortgage, or other transfer of title
<br />to said. property in extinguishmean of the indebtedness secured hereby, all rigor, 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 />optitan of the mortgagee, .may be surrendered for a refund.
<br />g. Ta keep all buildings and other improvements on said- property in good repair and condition; to
<br />permit mnusut, or offer no wash, impairment, deterioration of said propcny or any part thereof; teethe event
<br />of failure o£ the tttortgagar to keep the buildings an said premises and thane erected on said .premises, or
<br />imptrn^omenu ehcreon, in good repair; tht mortgages may make such repairs as in its discretion it may deem
<br />necessary for the proper preservation thereof; and the foil amount of sack and every such payment shalt 6e
<br />iinatediatelydue and payable; and shall be secured by the lein of this mortgage.
<br />h. To not voluntarily create or permit to t?e created against the property subject. to this mortgage any Lien
<br />or tiem inferior to the lien of this .mortgage without written consent. of [he mortgagee; and father, that mort-
<br />gagor:witl kelp and maintain the same frce from the claim of alt persons supplying tabor or materials for. con-
<br />structitan of any and all buildings or impravemems now bring erected ar tp be erected on said premises.
<br />i, To nai rtnt or assign any part of the rent of said mortgaged property ar demolish, or remove, ar
<br />substantially alter any building without the written consem of the mortgagee.
<br />j:, All avt±ards of damages in connection with any condemnation for public use aF or injury to any of the
<br />property subjest:to this mortgage are hereby assigntd and shall. be paid. to mortgagee, who may apply the same to
<br />payment of the.installtnents last due under said hate, and mortgagee is hereby authorized, in the name. of the
<br />mortgagor, tt> execute and deliver valid aequitranus thereof and to appeal from any such. award.
<br />k. The mortgagee shall have the right to.inspect the ntortgagcd premises at any reasonable time.
<br />1, To comply with the: provisions of arty lease if this Mongage ~s on a leasehold, if this ilartgage is ono
<br />unit in a condominium ar a piannesf unit development, Borrower shall perform alt of Borrower's obtigations--
<br />under the daedaration or covenants creating or governing the. conidominium or .planned :unit development,ttte
<br />by-laws and regutations;of the coad~vminium or planned unit development, and uanstitusrrt documents.
<br />2. TXfaui[ to any of the cavsnants or conditions of this instrument or of the note or Loan ageement secured hereby:
<br />shalt terminate the mortgagor's right to possession, ass, and enjaytnen[ of the property,. at the option of the
<br />mortgagee cu assigns (it being agreed that the mortgagor. shalt have such right until default). Upon: any such
<br />dcfauit, the mongagee shalt become the owner of alt of the. rents and profits assuring after defaul as security #or
<br />the indebtedness secured lureby, with the-right to enter upon said property for the purpose ,of collecting such..
<br />ernes and profits. This insttnment:shall operate as an assignrseent of any rentals on said property to that extrn[
<br />3. If the mongagor defaults, and fails [o make: any payrnen[s-when due or to cgnform to and comply with any of
<br />the cenditians or agretmenu trontaixted in this mortgage or the dotes which it secures, then the entire principal
<br />cum and accrued intcrest sitaT9 at once become due and payable, and draw per cant ( yJo) interest
<br />thercaf[er unlit paid at ttx election of the mortgagee: and this mortgage may thereupon be ftsreelosed immediately
<br />for the wttolc of the indebtedness hereby secured; including the crone of .attending. the abstract of tilts from 'the
<br />date of this mortgage to the time of commenting such suit_
<br />4. In the evrnt at a foreclosure ar dcfaolt as provided herein, th~,mart$agee shall at once be rntitltd.to thr pas-
<br />scscion, use, and enjoyment ai dx real est.atc foressid and W,thc rent, issues, .royalties, and proftts;dhereof,
<br />froth the accruinb of such rights artd during ate renderecy+ of foreclosure praceediings and such passrssians, etc„
<br />shad ai truce be dr&vered to th+e t~artga&re upon request, upon failure such dcliyery of such pgssecsian may be
<br />cttfarced by mortgagee, by any appropriate Segal pro..eeilings, includinga receiver 6'or ths,praperty.
<br />Tht grcxextis of as<v talc .~,f ;aid {rrt~txay 4r- accardnnce with !hc preceding lvaragraphs shaft be applied. firs[ ao
<br />pay ^..he ctxt. and e=rrn,=<~. of said sale, the t•tpenres i~zcurrcd by the mortgagee far the purpose of praa~ting or
<br />asatntainirog cai3 nrx,~psty, ~c:undty, to stay ;he +ndebtydress <~rr,reti hercbY, and. thdrdly. ter: tray uaysurpiu~s <n
<br />txCrs_c ?o the ['fir:=orn or ~cr.vr,+ ley&i3~ ;rrt>t%rti thfi, r; St,.
<br />
|