|
~g~ ~~~~ 11~ `
<br />T.HE MOR'I+Gt'1f~€i; Ii'CflEi'1`fiER. ~VENANIT9, AiVA i1(~i~?EE3:
<br />- - That the f.4x+rt~gnr wit( gaytha,inelehtiadtrees~sa hereinbefyre prm•iicd.
<br />- _ - _..
<br />-'l`Frat the ..*.~lartgarar is ~tytc ctivmer of said property ixr far ?tropic aid has good right end lawful authority to sell and -'~- --_ _
<br />caitveY thrsame aniS thatthct sarrce to free and clear of any lien or c ne,cmhrar:cr;and: that`IVfortgagsxwiF4wartast ztj3d.defend t~,~~.-` .
<br />- title to-.sairi F: erais-~s LF:rinst r;te idrvins of aif pe_tsoire wiiernysoever-. - "-. - -
<br />- - 'f`opaY iirmcc3icfeiywher, Bucand payauleall ~eete:st tos~^+, yrcii;l tears; speeial.assessrnrnts,_water etzarges, sewer se*v "-'~~--
<br />iea charges, and other taxes sort charges.agamst. raid prc.i~rty,.and all taxes Levied on the drtrk secured hereby, and to furnish the
<br />Pafortgsgee, st~nn : -quest, wit„ the original ~r .'.uph ate :accgr~ :hcrrftr. T Mort$sgo: agrees that thete=shal#-}:ax arkiet3 to -- __
<br />arch montht payrneHt rcauired hereunder car under the eviden ,• of ;lr•ht s,tcured beet-hy an amount estirrtatrd by the RAatfgagee _ -
<br />ta be suiieCirni Fn. enaaee :he ir'trrga~t^e -.:.a. pay, as £Irs!y brratue-+%u~~: alI taxx~. as-`sr3. sr.@nts. artd similar r-}terser. stpon t`~&.: pr~r.-t-
<br />- ises stibj~:theret<,; any defectenry F:etxi,~ o>:~ttie itasu(frrtency of ~sitcFi-~adiditiohai payments shall -tieForthwith defmaitrd ay''ttie - - - " -
<br />- flfartgagor w_ ith th,~ yfortgaGec uFvn demand- tsy Lhe Mortgagee._Any ciefautf under fhis paragraph shall be dremecl a default in -
<br />--- payrnpnt of taxes: sssesatnc•nts, rn r:itailar-charges rec}uireit--hereunde.-`-~. - --=--- - - - ----•-.-
<br />- - __ _ ., .
<br />'F.'he Mortgagor agrees that thane shalt also be added ta- each menihfY payment_of -principaF.;and interest required. here- ;._-;_ ;:.-
<br />uader an amount estimated- by-the ivfortgagee to be-svHietent to enable the Mortgagee to pay, as it becomes -due- the insurance- -- -
<br />premium on any insurance policy detiyered fo fhe.Mortgagee; Rny deficiency because of the insufhciattcy of such atidi#~artal pay-~-.
<br />merits"stiatt tee t#i'tFrtvith tL+yjrosited "by'tSe~I4Tortgagoi•`w?th tl3e-I4f6rtgagee upon'ti~inand bp'fhe fi~IOrtgagne.'2iny i~ataytt-unrie"r-this -. --.
<br />paragraph shall !>Q deemed a default in the payment- 07 insurance-pxeiniums: ff the parley or'pirlicies deposited-ale such aS home ~-'_ - -
<br />awners or alI risk policies, and the deposits are insuffreien# fo pay fhe- entire premium, the Mortgagee may apply the depasi•.t. to -
<br />- pay premiums an risks required to be insured by-this mortgage. - - - ~ -
<br />Payments made by the ~i3ortgagot undRr`Ure above paragraphs may, of the option of the Mortgagee;.lse hald'~hy it -anti - -
<br />- commingled with other such funds ar ilsovzn~funds €nr fhe-payment of such items, and until-so applied, such payrncnts are hereby -
<br />- pledged as security fox the unpaid.haIaneeof~the mortgage_indehtednesa. - - - - - ~ - -_ - - -
<br />To procure, dettver m, and maintain for the benefi# of the Mortgagee during khe life of #hi, mortgage arigirtat pohciea artd - .
<br />renewals #hereof, delivered at feast ter. days hefare the expiration of any such Policies, insuring agains# Fire and ether inaurahle. -
<br />hazards, casuattirs, and conlingencira as the Mortgagee may require, in an amount equal W the indebtedrtesa secured- by this
<br />Mortgage. and in companies accepfable to the Mortgagee, v.•itls toss payable Clraitsc fir, favor of and in form aCCeptalste #a fhe 2nfatfga-
<br />gee. fn the event any pcdicy is not -renewed on_ or beiare ten days of its espirat.ian. the Mortgagee may procure,insurarice-an the- __
<br />impraveatents, Pay the premium therefor. and-such sum shalt hewme immediately-due and payable with interest at the iAte.set
<br />forth in said Hate until paid and shalt tee ,secured Ivy ,this mortgage. Failure can the Bart of the lbiortgsgar to Erirni?h suclx tesrwats
<br />- as are herein requited ur failure to pay any sam.F advanced~here~,der chap?, at tl~s opfior of the Mortgagee, ii;n~t:tute'~s-default - _
<br />under the terms of this rnnrtgage. Thedetivery of-such talkies shall; tn' the rent rf default, constitute an -assiKnmen±. of #6e un- - -
<br />earned premium - - - - -
<br />Any sums received by the Mortgagee by reason c# Ions ur dam„age insured against rosy he retained by th "?r;teegee -
<br />- - and-.applied toward the k,-„sent erf the debt hetahy secured, or, at the op#ien of-the 4fortomgee, such sums either whntly>r-iir-. -
<br />- par# may be: paid over io the Marfgagor to br used to repair such hue#dings or #o build'naw 6uitdings in their "ntaer or--for any '
<br />_ ath?r purpose ar object satfsfaetory to the Mortgagee withou# a~'ecting-thE lien-on-the morfgagefcfr.-tlyeluF: eziuunt ?vCUreit here- --
<br />bY laeForn sorb payrtte-~ ever took place. - -. .- - - - - '- - _ "- -
<br />Ta promptly repair, More `at srbuild any huitditrgs ar jmptavrmeri#s-now er bemaf#ei on the prr•mi.,es u-hicl•.-may: be- - - -
<br />rxa#ne darrraged-or-des#rayed; to~kcep~said premises in-goad rondi#ion-.and repair and-free €rom ang mecbanic'= lie t` r other [tenser-. --
<br />rim of-lien rmt expressly eutxrrrlittated kxt-the [ten hereof; ha# #osu$et or permit"angtinlawful-u~eofor aitY nutsence to exist on
<br />- -said property nor to permit waste an said premises, nor ia- do anY other act whereby--the property hereby oouveYQd-shall [aecome -..-
<br />less valuable, nor to dimini~e or impair ifs slue by any act cr omission to act; #a eempFy with all requirements -of law -wilh respect-. - -
<br />to the mortgaged premises and the use thereof. - - - -
<br />- That should the premises or any part thereof be taken ar damaged by reason of any public improvement ar condemnation
<br />pracaedirtg, ar order 3T:e right of eminent domasn, ar in any other manner, the 4laY.gagee shall be eat#2Fed tp all crompehaa#i+FUia,
<br />awards. and any ether payment or relief Eherrfor, and-shat) l~ entitt~, at its apliori: to -eemtnance, appear-lit' acrd ~e it> its
<br />overt name any action or proceeding, or to make any compromise of settlement in conneetian with- such leaking of tfamagr, Ai# such _
<br />caatpenaatton: awards:--damages, right of action and-proceeds are hereby-assigned-fo'the lti#origagee, wha~ritSv;.after:r~educking
<br />tlfateizam aII its expanses.. reFrase any moneys-sa reeeivett by it- ar apply vie same on--arty irtuelt#ednesa secured h-ereuy. F-~+.-:vhntt-:
<br />gager agrees io execute such further assignments of any campensatian, awards, damages, and rights of action snit Rioceetls as the
<br />it~Tvrtgage~ rrtaY require.
<br />That in tasr of failure #n perform any of the covenants herein. -the Rortgagee ma}i do on the 4fortgagor's behalf-evervtFeing~- -
<br />so covenanted; that the Mortgagee may oleo da any act it may deem necessary tci protect the lien thereof; that the Moztgagorwii!
<br />rerraY xiwtt deriand,-inotreys paid nr diszsed try- the 4Scrtgagrs for sstyof.the slw4~ purposes; Arid such moseys rage#Fier with _.,_
<br />intare9trtheraun'at~ihe rate pi+gwided'arr~ said note ahal! becortte-ao much-addi#ionat ititielrtedtsesa Hereby secare##- atsd maY'he itr-" .. .
<br />c~rtd~ in atrY decree Foreclosing Yhis rtorR.fiage and be paid out of-the rend or proceeds of sslr of: said p~rmirsea if riot otherwise-.=
<br />- paid; that it shall not he obiigatary upon the ~rfortgagee ko ir~uire into-the validity- of any Lien, encumbrances- or claim-rn ~- -
<br />variCt77ttEtrisirteysas ~_bs.e suth?tizEd,--~E~dtathdng:herain contaitiezl-shall be.eonstsised: ~~:requissstg:.tltr ~1o1Y~agee tuadvkn~ arty- ~ -.i..
<br />r~yir ter ?+:,y snxeh pu: sxo-m nor. W do adg set herent~ter: at;d that Moitgagee.shai# trot incur any pexsiittailiatulity because of any- r ~ -
<br />- lhirf~ it. may do nr emit to do hereunder.. - - - ~ - - - -
<br />- L, the event vi [he default by itoYtgagur in the-paymen# of any iitstaFt-rnent, ~ xeQttirad bg !be a~Iotece~u red hem y oL - -
<br />.. in.the Ixerforrrar::e of }tie o±+tigatir+r. in the- mortgage or in the natr~secured there'oy. the-Mortgagee sl~[t be-enttlx! indectarc the -
<br />debt s,0.ured hereby due ?nd payable µ•ith gut notice and fhe I:So-tgagee shrtt Ere ertrtled a# its option, without naEiee, either F,y tfaelf
<br />sir hY: a iecen~er-to he sppoiritxl by the court *.hereof, and twifhont Mega rri to flee nder#aacy o{ any sECUrity'fnr tfie ic+delrtedneye, se- -- ~ -
<br />cu.rd hereby, is enter ut*in air,l tawelh~ssessiun i.i the-mnttgsyed preroirrs,and m crtteci and rn`e°:e tl~ •nL;; isaur~ and-pt5frt_-
<br />thereot;"mdappF> thcsa~ue,~ese coats of nperatior. aneirnltection, upon tle indelitedness s€4ltred fry.~ltrfs mortbage;. said~re6'W:- -
<br />issues Hod prn'nte Deingneretry asslFrfetS to me zY`~orzgagvr ~ uriiwr secu r,tr for fire Pnyt'uzUf bf Sf#-lLrdab-te~A~ s.1~ri.=..hereby:"
<br />T`.w 1liortgagee °F,all have the Hower in appoint any agent or agents it rosy desire £or the-parpo®e of repairing said prem-
<br />...qtr he „wrx.__~-:,llectinetha ;ents..mveauesend inrume, and it nay uay out of said anMaiealt e~ensrs tocutred.in t'enk-
<br />ing and mar aging the same andof coilectinRtlic'rentala there{rom.Tfre balance remauring, ifanY:'s!"saf#beagpGedtoirAt$E
<br />dis<ffaige cf #hemotrtgatte indebtedness-. This asxi¢nment is to ~erminaie and. become null_aitd void-upon releRSe, of this txoitsagr._ -_. _
<br />
|