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iKE; MORTGAGOR FURTHER COVENANT'S AND AGREES:
<br />Tttst the 1Lforigagor will pap the indebtedness as hereinbefore ,provided.
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<br />That E&r`?tiaNgAgor 75 the `dt'nAr=trf scut-'tirrsprrty in fee slmPtc and has gaotl- itgittsmt Iaivful=authority Eo sell snit _ -
<br />canvey the ,:trr'e and thnt t€te-sank-.ie free and clear of any lien or encumbrance; and that MarEgegor wit!-warrant and defend the ---- ~- -
<br />E title to satd p 'tnis•^; aRaiisL trto-e maims of a7I nfrrsors whermaoe.~er. - - -
<br />Ta~.pay imrn ;+atP.iy when r}uF_ard. nsyafile :={l Reneral taxes, special faxes, special assessments, wafer charges; sewer sere- --' _
<br />ire-charges: and o-her tsars ugachargesagainai aaiciprvtxny .+.1 ¢ svie:t an the debt sxc:;red h raby.~afsd to fur~sh flies.--
<br />na :r~_ ao.K, r+ rPaunet. with the nrieinal ~r duplie~tn receipts tlierPfar P[he lvIflrkgagbt agrees that there=shall' arkled to
<br />>~ each roa~tl:.,r payn,,.,t r~auirr•tt hereu::rf_r ~•~.-ur_cer theevidence,o#-debt secured hereby an_amount estimated-hy the Mortgagee
<br />to be sttt6gent to enab{e the Mortgagee. iu pax. as they, become.due. atI fazes, assessments, and similar charges upon the ptrm•
<br />''~ ices sub}ecE: thereto: env ctefrciency he:attst! of :thg anstgffiCiertcy of .such-ad¢it£or~l payments _sha!! be fr3rthwtlh _deposited ,bY the
<br />rrv#ortgaga=- cif:. the 'ti ui.gahce rpen <_~trand by flee Mortgagee: Any i#efattlt under this _pa raKraph shaI! be` ilenmed a~tlefau{t ih.
<br />~~ payment ~oi taxes, assessments, nr similar cTiaiges-required lsereindet.- ~ --
<br />The Mortgagor agrees that there shalt also be added to each monL.hiy payment of principal andrnteiest required hers-
<br />t~ under sn amount estimated'by'the-Mortgagee to bey sirfFcierit to citable -the-'Mortgagee to pay, - as' if 'beaomea -dtte, the---insurances
<br />[~ premium on any insurance polisY detivered:to the,Martgagee,-AnY-~de&eiency because:at.-the-.insufficiency of-such additional. pay-
<br />ments shall ~ fnrthwif6 deposited by the Mortgagor with f}te Rfartgagee. upon demand by the Mortgagee. Any-default under this
<br />_ paragraph shall ?>Q s~ ed a default in. the payment of insurance prenuums, if-the pniicy or paticies,depo~ted are such.as }nsrne-- --- -
<br />owitera of a!t risk `policies,-arid the depoaiE.s are ittsuffta{ent to pay the entire premium, the Mortgagee may apply Ehe deposit to
<br />pay premiums on risks required to be insured by this-mortgage. - - - - - - -
<br />Payments made by the Mortgagor under -the. above paragraphs may, at. the option -of- the tblarigagee, be tteid "hy it and
<br />commingled with other such funds or its osyn--funds far the payment of such items, and until sa applied. suck payments are hereby -
<br />pledged as security far the unpaid-balance of the mortgage indebtedness. - _ _ -- -
<br />To procure, deliver to, and maintain for the benefit of the Mortgagee during the fife of this mortgage original policies and --
<br />renewals hereof, delivered at least ten days before the expiration of any such policies, insuring against fire and other insurable
<br />hazards, casualties, and rnntingencies as the Mortgagee may retiuire, fn an amavn# egnai to the irtde€stetltte~ aeettn$ by tlsffi
<br />Mortgage. and in companies acceptable to tfie tufortgagee, with toss payable clause in favor of and in form acceptable to the ,iefoHga-
<br />gee. In the event any policy is not renewed oa or before ten days cf its expiration, Lhe Itiartgagee may prow re insurance en the
<br />improvements, pay the premium therefor. and such sum she!} t)erame immediateh• due and payable with interest at the rate set
<br />forth in said note until paid and shall be secured by this martgaga. Failure on the part of the Mortgagor to furnish such renewals
<br />as are herein required ar [allure to pay any sums advanced hereunder snap, at t{+e option of the Mortgagee, Constitute a defauif
<br />under the terms of this mortgage. The dehvcry of such po{icies shalt, in the event of default. ntnstitute an assignment trf the un-
<br />earned premium.
<br />Anv sums received by the Mortgagee by reason of Iris ar damage insured against may be retained by the Mortgages
<br />and applied toward the Paymenf of the debt hereby secured. or, zt ihc: npfian of the ltlortgagee, such sums either whaity or in
<br />pare may tx paid over to the Mortgagor to be used to repair such buildings or to build'new buildings in their placx ar for any
<br />ether purnase or object satisfactory to the Mortgagee withuu! affecting the lien an tF.e mortgage for the full amount se vrerl here-
<br />by bsfa_*e such payment ever took place.
<br />To promptly repair, restore ar rebuild any buildings or imprnvements new ar hereafter an the premises which may be•
<br />coma damaged or destsnyed; to keep said premises ir. good CandiEian acrd repair and free from any mechanic's flare az at:.ar !feel .-.:
<br />claim of lien real expressly subordinated to Lhe hen hereof; nest fa suffer ar permit any unlawful use of or any nuisance to exist on
<br />said property nor to permit waste on said premises, nor to do any ether aci v.~hereby the property hereby conveyed-shelf lserome
<br />leas valuable, floe fo darninistt ar impair its value by any act or omission to art; to cnmp{y with a!! r@quizements of law with .respect
<br />Eo the mortgaged Premises and the use thereof. - - -
<br />- That she+~Id the premises or any part thereof be fatten ar ;iamrtged by reason of any public improvement or eondemnaUon
<br />proceeding, ar under the right of eminent domain, ref in any other manner. the ;<.fortgagee shat{ be entitled to ail compensations,
<br />awards. and any other Payrnsnt or relief tl:zr:e:, arm s_h~~t `--~ entit£'e+~, aE its opttan is commence, appear in and prosecute in its
<br />awn name any action or nrocteding, ar to make any compromise ar settlement in connection with xvch taking oa damage. A€1 such
<br />- ccartpsrtsation, awards, damages, right of artian and proceeds are hereby assigned to the Mortgagee, who _ riisy, ~-after -deiiwatfzt6
<br />therefrom atI its expenses, release any nxoneys so received by it ar apply the same on any indebEedness secured hereby. The lefart•
<br />-gagoi agsses'to execute such further assignments of any Compensatron. awards, damages. and rights of-action-and prvreeda as the
<br />Mortgagee may require.
<br />Thai in rase of faiium Lo perform any of the cove;tanL, herein. the Mortgagee rosy des t>n the Mortgagor i bettak e++erythin~---
<br />sa savenented; that the iVlartgagee rosy also do any set it may deem necessary to protect the lien thereof: that ttte Mortgagor will'_'-
<br />repay upon demand any moneys paid ar disbursed by the ':Mortgagee for any of the alxive purposes, snd such moneys together with- --
<br />tntereat thereon at tits rate provided in said note she!{ become so rnurh additional indebtedness hereby secured and rosy tie in- _
<br />eluded ixi any decree foree{asing this inurtgage and be paid out ai the tents or proceeds of sale-of said premises it not otherwise
<br />p~ttl; €ltet i* shop ~s be ab€iraio~ ut-'on tltr Martgage~ to itsauire into the va:idity of any lien. enrumbranres. or cta{m in ad...
<br />vantgng moneys as shave authorized, hnt nothing herein contained shall 4x+ construed as r~equlring the Mottgagee tv advaix'e arty'"
<br />moneys far any such purposs nor to du any act hereunder; and that Mortgagee shat! rent incur any personal Iiatriiity Aecause of any-'-~
<br />tYting-it Friayda ar remit ttr des hereunder. _
<br />- - ::- -ln the event.=af- tl-,F- dsfault t+y Mertgsgoz in ths• p;tyment of. any instaHmen*..- as required by the Note. secured Sterehy.-ar`.~
<br />- - irtthe;#>rsfcrmtavt~ o£ the obligation in Lhis mortgage or th the rrote secured thereby, thR Rfortgagee.s€tall.be entitled #n declare the
<br />-debt s~ttredhereity due and payable without notice, and the Mortgagee she!! 4e entitled-at its aptian, without-notice, either hy-itae€f
<br />- - ar b} a receiver to be appointed by-the court ihereot,-and withaui regard to'tite adequacy of any seertrity. for the indebtedness-se-
<br />- - - erred hereby'.. to c-refer upan_and tat4e. posion: of the. mortgaged psemisea, and to cxtllect_ and reactive the rents issues and pzara#
<br />iherepf, anrI zr3p1; thv same,.Iess cr~ts of opei•atian and cullectinn, upon the indebtedness secured -t,y this inor ge8e;_ sxi~.lcttEa,-
<br />- i~usaand profits {ring hetebY.assigned to ffie ;~Futtgagee su #urfher rerttri{y for the payment oC,alt inrlehtet#ttosn securwt--hereby -
<br />- - - . -Thy. "~!ar¢g?ltee s~ia€[ltattig'thepeatar:tu appuint'any agent or agents ituayi3earfe-fa--,the purpose ai".iepati€ng said PrCi31- "_
<br />- .lass; renting. the same, caflecting Elre rents-, revenues and income, a,7d iY taaY~paSr ant cf ssxd~incor..e all-expenses lnrurrtr3 tn-ren>r-
<br />- €ng and manab,:ne the name and of callectsng -Ehe rentals therefrom. The balance remaining, if. any, shalt be applied toward the
<br />d€aehaige ar .the mortgage rndeb~dneas. This asaignmenr is Lo terminate and become-null and voiil_upan release or fh?s:r'ftorfgage.
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