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THE. MORTGAGOR-. ~NRTHEfi e;ClXE21ANT~ 'ANl~ •AGREE,S: .
<br />That.;hr iciortgagar a/iBnaY~the ittde}rtedness av-Tzereinbe£om prnir}.Nt. _. - - - -
<br />That ih~'r:er>„-.1, tr. i`• -h• mzr of said property in fe»-'simple and has geed .righk and Fawfui au3horetY io-~.F~ aqd.
<br />r,snv^Y the sams,ar}d t_bat Ehe same is fien a-ai near of-any lien or encaimbrauce,; and that-M'o'rtgagor wilt warrant and defritd the
<br />4itle to saidpremix'ti ngaint fhe- cissrns of nil pe:4nn° whonvuirves
<br />- -Tor ,..,,.,....:i:arP!v when thv anti tavablc nll Keieeral ta•,rrz, spxia) taxes, specie( -a~sessmentsa waist charges, sewer serv- --
<br />- - itvs ahat$~, ~#-.u, R..- axt~e ar.rl .s rg~~. ryri~t -said ; "[x. rty, and all, taxes levied an the, €#eht se€'tire3 herelsy, as}d to fu Fnish-toe
<br />- Mortgagee, apanr'quecl;.s•if6 '.heor:gina! oc duplicate re!ceipEy t},Pre~or. The Moctgagis{ agrees that tfsere shad be added Fa
<br />- - each. monthly fazynzent required hereunder or under the vturyce a£ debt secured hereby an aa'ot#nt cetimat<d`,hY the ?Mort gB~~+ -
<br />- to be sufftci i ty enaola the Rfo tta Pe. t~ }say, ~.; they hecrime duel-aft taxes, assess3xsents.-aud simitar charges vpan the preen -- _ - is¢s autffeL•t-the. rrto, ti:ty ck &ienc} I,ecau ~e of the insufficiency of suc}i avdifianat p y,a.ertss}iallbc fur*tr,r.#th 'depvited by the
<br />;- . "MozLgagr+r, with .fhe .Mortgagee open -demand by the" I4tortgagee. Any default under Lhis paragraph shalt-be alcem.d a Aefnuit in
<br />:.' paymeng of t9zes, assassmefits, or simila~ charges'e€}vired hereunder:. -- _ . _ _ -
<br />- ~. The tl3artgagar agrees" that there shalt also tis added to each mgathlY paYrnel?t.af ~prianipat_:and--ftxterP:;t reauired.ltera- ~-- --
<br />' -under an amaunf.estimaied by the Mortgagee to be sufficient Ea enabte -the Mortgagee fn pay, as ik becomes due, t}re insurance _
<br />-r'°°~Ptettiium on any:insurance policy delivtsed to fhe Mortgagee. Ary deficiency because of the insufficieaey of ¢urh-adrhtionai pay-
<br />-.~..menu-shat! be forfhwrth deposited-hy theMortgagor with fhe-Mortgagee upesn demand by the A2crtgagee. ~t;ny default utidcr tTsis
<br />_ ~ paragraph shall-tae rleerized a default in the payment of Insurance premiums. If fhe palicy-or-paiicies-iSeptisite::s-sra s-ach'aS~TxriS°.¢-'.-
<br />ewners ar a!I risk policies, and the deposits are insiztfrcient to pay the entire iuemivm, the svfartgagee may app}y the deposit to
<br />- pay Premiums an risks required td ke insurrri.by.this-sifortgage.. .. - - _ _
<br />- -,~ Fayrnents.made by'ihe MartRagbr.under ifie shave, paragraphs may, at the option of the Meirtgag¢e;-b.• R.-1d "by K and - -
<br />~ cmnmingled with atFxer sizes funds ar its awn fuhds~for fhe payment of such items, and unfit so appiler}; such paymer.t~ are_hereby -;-
<br />pledged as security for the unpaid balance of the inort~age indebtedness.
<br />To procure, deliver tn. and maintain for the benefit of fhe ;tfartgagee during the life of .his mortgage origina3-folicies and - -
<br />reaewals thereof, dehvemd at )east ten days before the expirat.ian of any sutra policies, insuring against fire and other eusurahle .
<br />hazards, casualties, and rnnfingencies as the Mortgagee may require, in an anravnt equal to the indebtedness assured by this
<br />hfortgage, and in companies acceptable to the Mortgagee, with toss payable clause in favor of and in farm acceptahl¢ to Lhe I4fortga-
<br />- gar. In t}ie event any policy is not renewed on yr before ten days of it:. expiration. the Mortgagee may procure insurance an the -, _
<br />" imprcr+etnents, pay the premium therefor, and such sum-shaft t>ec:>me imznediaieky due and payable with interest at the rake sat -
<br />far°.h in said Hate until paid and shall lie secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />- as are herein required yr failure to pay any sums advanced hereunder shall, at the epEion of the Mortgagee, cvnstitvte- a-:default
<br />under the terms of this mortgage. The delivery of such pe;hcees <_hali, in the evert of dcFacit, rnnsirtute an assignment of-the vn•
<br />earned Premium. -
<br />- Any sums received by the Mortgagee by reason of loss or damage :assured against may be retained 6y the--.9fartgagee- -
<br />and applied toward the oayinent of tfx det?t }xerehy secureil, or, ai the option of the 'vtorfgagee, such sums tither ~-=.-.ilY arias
<br />part tnay he Raid over Y~~ tl:e Mortgago: to be ;xsed to repair sucF. fiat!€iing~ or t+, build'new buildings in their Plare ar far any
<br />_ other purpose nr object safisfaefory fo the Mortgagee without aFfeciing thc~ lien an the mortgage far tF.r-full amaunt_ secure€I here-
<br />by twfom such payment ever took place. _ -. - _ _ _
<br />-- Tu promptly repair. restore or rebuild any buildings ar improvements raw or hereaftFr on the premises which may }?e- -- "
<br />_ come damaE°~i wt destroyed; to keep said premises in gaud r.±nditior, acrd repair and Free From aay mechanic's ilea ar ether lien or
<br />maim of lien tsar exptesaly suhrrrdinated ko the fien hereof: nat. to suffer or permit ary untawful use of or any nuisar~-to e3ist 4n
<br />- said prtspr :g. rzo.> to prrnit waste an :.aid premises. nor to rIa any other act w-hereby 4he pnr}~rty here}sY r~zfveyed shall }lacerate
<br />-. less valuable. nor to diminish ar impair its value by any act or omission to act: to crrmnty with ail requirements oF'law- with -respect
<br />to the rrwrtgaged premises sod thevse thereof.
<br />'f"ktat sl?ov id the pre,ra~;-s ar an ^rar'- thereof he ake^ ur dama+_•ed by rea:c;z of any public improvement ar candemnstiar:-
<br />pr~s~ed;rag. ar utader the right of eminent domain, cx in any ether manner, tF.e hicrtr_gee shall be entitled: ta_aII eompensal~aas>
<br />awards, and any other payment or relief therefor, and shall be anti±Ird, at its aptiaa. to camiiience, appear in~ anrt'Prasecuty m l~ - -
<br />owzt name any action or praceediag. or to mak¢ any rnmpr ,-»se ar seEt}ement in eanneetion with such taking or damage- All such
<br />ce~yPerssatzttn, awards, damages, right of action and proceeds are hereby assigned W the Moztgagea, wTza nay: -att~r.deductitrg-
<br />#~~'Starn aIt its erc_aeas¢s, release any moneys sa receivett by it or apply the same on any iadeStedrie~~s¢cured-hereby.-The Mort-.
<br />gr.agr~a ~ esexvte suds further assignments of any camprnsatiar., awards, damages, a-rid.ris4~ of aetl+;n $rx! ps~"~°- aa.t~.
<br />Martgatt¢e may rerruire.
<br />Thak its case of failure to perfacm any of the cos•s'nantn herein, the Mortgagee may do on the Mortgagor's Khali rvesYthfftg
<br />~ croverzartted; that the i<3ortgagee may also des any act it may deem nect:ssarY to protect fhe lien thereat: that the »iartgsBUr will -.
<br />' r'~Y, ti,pon 3snyzsa:,d env m^neys paid or disbursed by the Mortgagee fas any of the above purposes, and such maatYS togeflier +vitlt - .
<br />~~ t~:i gt ~t~ rate pradide<3 in said note shall beevme so much addstiarsat anr3ebtedness hereby aeeurEd and:aay tae ia-
<br />- ^Ivded irz any decree foreetceirz$ this mortgage and he paid out of the rants ar proceeds-of-sate of said-trreeaises if ~no! ot~ '.:_
<br />paid; !fiat it shall oat !ze obligatory u+~on the Mortgagee to inquire into the validity of any fien. ezfetxmbrarices, to ~~ ~ -`_
<br />. vaaieirig ftaneys ~-abrrve air-}`a~r~, `;"'t natteinq !r~rein tr,eiained shall fie canatrued as requdring the ls•1nrtAagee y
<br />" :rmnsys forarsy ;each. Purpose oar io des er.Y act hex-evader: and that Mortgagee. shat! not tutu: any personal liability bxeavse esf arty-
<br />- lEturlg it racy des s~;nait _t$ des-ket`tklnder. - - - - _ _ .
<br />~_ Tn the event of flte default by Mortgagor in the payment of any installment. as required by tine Note lured FxrebY• ~ --
<br />in tbe.Performance of the obligation in this mortgage as in Ilse note-secured ~thereby,tF.e Mortgagee shaIl be eirtitted to dz¢Iare t#x - -
<br />- - debt. sauteed hereby due and- payabte without ackice,.atu3 Lhe 'Mortgagee shaft fie entitled at its option, _withaui nu3ue, either tit ftaetf ..
<br />" or by, a. ieceiveE to be ~sPiioiated by ;tTte court thereof. and rnitt+atxt -regard to the adc+fuaty of any setvtity for ttx ftt~6fednc.-s se-
<br />cur€+i hcz-zeby; to enter utx',i, and take t>r~e~lism'a'r the mattgAged preitei'~s a':rI to c^~taet a~ receive the mats. isisuPs acrd praBta
<br />-- thereat, snit apnly the same. less co=.ts of afxratkna and tvfilectforr, -uPmn-Yoe indebteak~ss a2ortied'-~} itiis,i'aeitg 'sized t'~ta.'~
<br />xsavts"emt;rtatitis fiat: g hereby s~csignrti totfixe'vlartgagae asfurttiet seettrity for th»Payrnent of atlsstutebtedaesssrtrrrarJ-~~elsY:
<br />- - TTte bt5rtgaBx shat! have t1~~e Dewar fo appoint asp ageat ar agesis it may desire for the purpose of -eepairing -sole! Prom--~ --
<br />lees;-.rentieg f}rr same; croIlecting. fhe rents. cevenur: and income, arnf it may pay cut of saris income all expenses itecurzed in rent-: -
<br />{ ifzg arad~"tnaneging ilia yanir axdofcaile.t .g kb;^ e t!- tharefryrn. The isatance remaining, if any. shall he;apPIz¢d toward the.
<br />I age a~ the mot~ege indebtedness This assignme nl lc tc termiantn and 7>ecame Holt arxi void upon releases ~ ifiis ~ortgag8.
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