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82-pQ48U3
<br />d.-For better security of the indebtedness hereby secured, upon tbe request of the mortgagee, its successors
<br />or as3igns, mottgagor shall execute and deliver a supplemental mortgage or mortgages covering any additions,
<br />improvements, or betterments made to the property hereinabove described and all property acquired by it after
<br />the date hereof (ail 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 by this instrument, mortgagor here-
<br />by agrees to permit mortgagee to wee such default, but mortgagee is not obligated to do so; and such advances
<br />she{f 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 time of the payment of the indebtedness evidenced by said promissory note or notes, or any
<br />part thereof secured hereby.
<br />f. To 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 />when due any premiums therefor. 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 and in form acceptable to the mortgagee. In event of loss, mortgagor wilt give immediate notice in writing
<br />to mortgagee, and mortgagee tray make proof of toss if not made promptly by mortgagor, and each insurance
<br />company concerned is hereby authorized and directed to make. payment for such loss 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 a[ its option either to the reduction of the indebtedness hereby secured or to [he restoration or
<br />repair of the property damaged or destroyed. In event of foreclosure of this mortgage, or other transfer of title
<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 [he
<br />option of the mortgagee, 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 [hose erected on said premises, or
<br />improvements thereon, in good repair, the mortgagee may make such repairs as in its discretion it Wray deem
<br />necessary for 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 lein of this mortgage.
<br />h. To no[ vvlun[arily create or permit to be created against the property subject to this mortgage any lien
<br />or liens inferior to the lien of this mottgage without written consem of the mortgagee; and futhee, that mort-
<br />gagor will keep and maintain the same free from the claim of alt 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 or 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 name of the
<br />mortgagor, to execute and deliver valid acquittances [hereof and to appeal from any such award.
<br />k. The mortgagee shall have the right to inspect +he mortgaged premises at any reasonable time.
<br />L To comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a
<br />unit in a condominium or a planned unit developmen[, Borrower shalt perform alt of Borrower's obligations
<br />under the declaration or covenants creating or governing the condominium or planned unit development,the
<br />by-taws and regulations of the condominium or planned unit development, and constituent documents.
<br />2. Default in any of the covenants or conditions of this instrument or of the note or loan ageement secured hereby
<br />shall terminate the morigagor'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 default). Upon any such
<br />default, the mortgagee shall become the owner of all of the rents and profits accuring after default as security for
<br />the indebtedness secured hereby, with the right to enter upon said property for the purpose oC collecting such
<br />rents and profits. This insuument shall operate as an assignment of any rentals on said property to that extent.
<br />3. If the mortgagor defaults, and fails to make any payments when due or [o conform to and comply with any of
<br />the conditions or agreements contained in this mortgage or the notes whit tl ecureS, then the entire principal
<br />stun and accrued interest shall at once become due and payable, and draw~l~tae~ier cent (15 • t) %u) interes[
<br />ihereattsr until paid at the elution of the mortgagee; and [his mortgage may thereupon be foreclosed immediately
<br />for the whoa of the indebirdrtess hereby secured, including the cost of extending the abstrsct of title from the
<br />date of this mortgage to the time of commencing such suit.
<br />4~ in tits event of a foreclosure or default as provided herein, the moitgag~e shall at once be enti[lyd to the. pos-
<br />session, use, and enjoyment of the real estate aforesaid and to the rrnt, issues, royalties, and pristiss thereof,
<br />from the accruing of such rights and during the pendency of foreckusure procrruings and such pessrssivns, etc.,
<br />shtalf at onw°e be ddivss~t! to the mortgages upon request, upon failure such delivery of sue' - ~-.ession may br
<br />c~tts`orced by mortgagee, by any appropriate legal proceedings, including a rtx:river for the pr:=t=. ,
<br />S, fhe proceeds oC any sale of said property in accurdance with the preceding paragraphs shall br applied fits[ to
<br />pay the hosts and sxpenses of said lair, the rxpenms incurred by lire :mortgagee ivr the purpose of protriting or
<br />txtaiattainlttg said lr. vpe!rty. secondly, to pay tftc itsdebtrdttrss secured hereby; snit thirdly, to pay any surplus t?r
<br />extxss to [fir psrstsrt or persous Iraefly etuittta! 3hrreto.
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