|
<br />$2--lit?490
<br />d. For better 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 the property hereinabove described and all propetty acquired 6y it after
<br />the date hereof Sail in Corm satisfactory to mortgagee). Futhermore, should mortgagor fait 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 mortgagee to cure sueh default, but mortgagee is not obligated to do so; and such advances
<br />shelf become part of the indebtedness secured by this instrument, subject to the same terms and conditions.
<br />e. Thr rights created by this conveyance shall remain in full Cora and effect during any postponement or
<br />extens}an of the time of the payment of the indebtedness evidenced by said promissory note or notes, or any
<br />pan thereof secured hereby.
<br />f. To continuously maintain haTat•d insurance, of such type ar types and in such amounts its the mortgagce
<br />may-from tune totimr require on Che improvements now or hereafter on said property, and will pay promptly
<br />when dot any premiums therefor..Ali insurance shat} be carried in companies acceptable to mortgagee and-the
<br />po}iaes 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 mottgagee. In event of lens, mortgagor w}U give immediate notice in writing
<br />to mortgagee, and mortgagtt may make proof of loss if not made promptly by mortgagor, sad each insurance
<br />company concerned is hetrbp authorized and directed to make pa}~ment far such loss directly to mortgagee
<br />instead of to mortgagor and mortgagee jointly, and €hr insurance prc>L-eeds, or sop part thereof, may be applied
<br />by mortgagee at its option either to the reduennn of the indebtedness hereby secvred or to the restoration or
<br />repair of the proprm° damagtd or destroyed. In event of forcclctiurc of this mor:gagt, or other transfer of ride
<br />ro said property in extinguishment of the indrbtrdncss veeurrd hereby, all rrght, t}t}e. and interest of the
<br />rttottgagar }n and to anp tnsurance pn}ivies then qtr farce shall pass to Chr purchaser oe mortgagee or, at the
<br />option of the mongagee, may be surrendered for a refund.
<br />g. Tn keep ail bu}ld}ngs and other improvements on ,aid propeny in good repair and conefitian; to
<br />permit, commit, or surfer nn waste, impairmrn4 deterioration of said property or any part thereof; in the event
<br />of failure trf the mortgagor to keep the buildings on said premius and those erected an said premises, or
<br />improvements thereoti, in gaud repair. the mortgagee may mskt such repairs as in its discret}on it may deem
<br />oecrssarp for iht proper presers-auon thereof, and Chr lull amount of each and every such payment shall 6e
<br />immediately due and payab}r: anti shall M sa-ured hp the Irtn of this mortgage.
<br />h. To not sntuntartl}° :reatc yr permu to i_~r treated agautst the troperty ,ublea to this ntongage any lien
<br />ur Pr€ns mfrriar to ifir Eien of thxti mortctag€ Wtthckit wrurrn Consent ut' tht tnartffagee: and futher, that mart-
<br />gagrrr will keep and matntatn Chr Same ;ter irCrtn the ::Calm of nit peruues suppiytng labor or materials fur ctrn-
<br />itrttiiian of any and ail buddrtttts .>r tmprovemrnts nov. hctntt rrecsrd e:r to f+c rrtxted on card prrmtses.
<br />i. Io trot rent :.x airtgn any part of Chr rrnt sal +srd +nrxtgagrd property or demo}tsh, ur remove, or
<br />substantially abet any t?ui}dsng wuhout Chr wr,tten ctrnscnt art the marrgat5ee.
<br />t..~>j awards of datnaees an contte.7san with any cartdrmnanon for public ux of ar infury to any of-the
<br />property sutajeci tU this mortgage err itctcby asssgned anti rtta}i br pasd to moutgagee, who may apply the same to
<br />payment at the trtstallmmts last due uttdtt card note, and mangager ss hereby authorueti, to tht name of the
<br />mortgagor, to rxrcvte and dttl}vet valid aegnrttartt'e~s ihtrretf anti ro appeal from any such award.
<br />k. The martgttgce Shat} have Chr right to inspect the mortgaged prcmtsrs at any reasonahie rime.
<br />i. Ttr contpty wuh the prirrsstons irE env Erase d Chu llortgalte t. on a leasehold. If this ;viottgagr is tut a
<br />unit to a condamtmttm or a planned unu drvr}aprrtrnt, Hcarowrr shall perform all of eoreavver's obiigationa
<br />under the dtclaration ar cuyrnattts crcatrng ar guvrrmng Chr condominium ar piattned unit dtvrtopment,thr
<br />Iry-laws attd rc;utationx af' the corxfomuuutn Sx p}anned unst derAttpntent, attd ronseirstrnt datvtttettts~
<br />2. f3efault in any at the covtctants or svrtdtttons of this ittstrunxnt ar of the note ur #tran agermeni savred hereby
<br />shall-trrtrttna!'e the rtttxtgagor`s ri~tti to pe+sscarran. use, and entopmsatt of the prapeny, at rho option of she
<br />mortgagee ar assigns tit bttirig a~rred that tt~ rttortgagex shall have such right. until tfrfault), l;pon any such
<br />default, the tttortgagrr shall ba~tir the owurr of all of Chr rents ants profits ac~uring after default as seavrity fix
<br />the itrdefxxcttrtess sawed hereby, with the right ns enter upwt wid property feu Chr purpose of t°oitret}ng such
<br />rents and profiu. This rnsuument snail c~ttvatc as an asstgntment o1 any rentals on said propetrty to that extent.
<br />t, if Chr mortgagor doiautts, and tarts to make any paYr~nts ~vher. due err to c:ontorm to srsd comply with any a!
<br />theconditia~ns ar agrcrttxnts ecxttaisxsi in this mtxty~y#c or the notes which it se~res, then rho entire principal
<br />setm ate accrued }ttaerest shalt at atux bcs-amr Sur and payable, and draw * per Sent (15_S'~) interest
<br />rher~frer unto pool au Chr tl!RRtian of tht mtuutgagrr; anti this mortgage may thoreupan be fara;tttsett immediately
<br />fc3r t~ ;rha3i< c'r€ ~ }~~, y ~c~rod, fncatidiitg the cat n€ >=rterniing Chr abst, :et of title from Chr
<br />t5atr t?f this mcutgage to the tune of cvmruenung such soli. *F1f teen and three-:;:t.s trots (I5. t~}
<br />a, la tl+t C of a fcxeelgsare or dCfauit as piavitlesl hereto, Chr murtgsgcc shah at arn~ be ~atu~ra m Chr pur-
<br />srssittrs, tu~r, amt} rttioymrttt isf Chr real estate afarrsaai arx} to Chr rent. i,surs, toyuitirs. acrd ptrtt'us thorruf,
<br />frt?att tttif ar:cxuirtg of ssn:h rights and during Chr prndenev rtf forcc}axsttte ptasxatings attd su4h pcrssrsstcwts, err.-,
<br />+~ti at oars rte de~yerod ro the mortgagee upon rortuest, upon failure such delivery crf such passesvtcrn ma) Irv
<br />rnloeced by mortgagee, by any apprS~triatr legs} pr.xrrvlings, ioc#uding a rt>Yiver fix ehcfrroperty_
<br />S. Thtt pttrcreds nt any sale of ~tW property sn atcordarrvr with Chr ptecrdtng paratitaphs she}. t+r appbrd first to
<br />Day tht.ti>atc amtt rxp~ca of *aid srtir, the rapertt~s inv~urrw} key ttte tttottgagrc t x Chr purpose ul prcrtrctirttt or
<br />t:tarrstaanift#:ttiA I~rtttaertk, qty, to pity the ttWrtrtxvlrts.+r, vtcluresf tterelr.; and thtrdty, tar paw am surplus tw
<br />tsS€~± to the , Exa~,n to tmfi icgai4y ontrtkd thtrety.
<br />
|