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THE 1440R°I'GAGUR FURTHER LbVENANTS ANl3 AUREF.fi: -
<br />5^~e
<br />t~J~ Tiaat the Mortgagor will pay the indebtedness as heremF,t•fare provided. ~ - -
<br />. -~~` J 'T'hai ilea ,~4~tSgHgor is Lhe owner of said pro~ceriy. in Fee_ .~rtp,e an$ i-.as gbod -right- and lawful aut}tarity to soli and
<br />FJ convey the same and- Kati the :ssn is free and clear of any }ten or encumbrance; anal that-Mortgagor will warrant and de€end the - - -
<br />cse. t tle to ~ti _ ~a,o ^t~ of ai' ,^-or3.. s ni3csrs:-~ru2r - - _
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<br />To pay 3truizedaataly :when due and pcyatsle a!} general taxes;-special. taxes, special assessments. water charges. sewer sere-~
<br />- iFC charges, amt gtkzpr taxes and ate@r3es ngainaY s0id ~prtiper$y; and ail :taxes--levied on the deb± secured hereby, -and- to furbish the -~
<br />hSarfeaa€~. =~prttr_rre~ e~it?~.'.he €r'bral-or-,dup€iiais-r~ipis tSzcrefor,T'ne i44ortga8or agrees Lha# #here shalt be addeii to
<br />each monthly phytvlertt -r~{uired hereunder ar under the evidence of-debt secured hereby an amount estimated by the Mortgagee
<br />to be suH'iaieat !ti enable ibe Mortgagee t?,pay, as they become due. aSI taxes, assessments, and similar charges upon the prnm-
<br />ises subjeM thereta,_any de~ieiency leeause.pf the insufficiency of suc3t atfditienai payments Shall be forthwith. de(sositt:tt,hy the -.:_
<br />14ortgagar wiflt ffx.--4$nrtg=ages upofr-_demand by the 'vtorigagee_-A{rq-d~favit render this.paragraph steal} be r}eemed a-rlefault'!n ~:
<br />t~Yment of taxes. assessments, rr simiiar char es r - - - - - --- ..-. _ - - - ~ ..-
<br />g equired hereunder. - - - ~-- __..
<br />-Tee iV4artgagoe agrees-that t}iare s}aaII also ire added'!o each monthly payment of principal and interest-regiiired here- -
<br />under an amount estimaled.by-the &tortgagee to be sutfieiert to enable fire Mioetgagee tit pay, as it h~aomes due.. thet_n-::prance
<br />premium on any insurance pahcy delivered to the Mortgagee. Any deficiency hecausa of the insuffxeietxcw of sucli.additiena} -pay-
<br />`- menu s}talt be forthwith deposited by the Mortgagor with the Mortgagee upon. demand by the Mortgagee. Any default under this
<br />paragraph stesili be deemed a default in the payment of insurance premiums 4f the IraSicy or policies depasiteri are such a; ix+me-
<br />owners or ail risk~pulicies, and the depasiG are insufficient to pau the entire premium. the R4arzgayec may apply the .deposit to
<br />pay premiums on risks required to be insured by this mortgage. - - - - - - - - -
<br />Payments made by the 1ortgagor under the aiwve paragraphs may, at the option of the Mortgagee, be held-hy it and
<br />commingled will; other such funds nr its own funds for the payment of such itetLxs, and until so applied, such payments are hereby
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
<br />To procure, deISver to, and maintain for the imnefit at the ?Mortgagee during the life-of this mortgage original policies and
<br />renewals thermf, delivered at least fen days before the expiration of any such policies, insuring against fire and other insurable -
<br />haxards, casualties, and contsngencies as the TS~tortgagee may require, in an amount aquae to the indebtedness scarred by this - -
<br />Mortgagn, and in companies acceptable to the Mortgagee, with toss payable clause in favor of and in form acceptable to the Mortga- -
<br />gee, fn the event any Policy is not renewed on or before ten days of its expiration, the Mortgagee may pror:ure insurarise on the
<br />improvements, pay the premium therefor, and such sum shalt become immediately due and payable with interest at the cafe ref
<br />~arthsn said note until paid and shall he secured by this mortgage Failure an the part of fhe Mortgagor #o turriish such renewals
<br />as are herein required or failure to pay any sums advanced hereunder shall, at the option of the ltfortgagee, erinstitute a default
<br />under Lhe terms of this mortgage. The delivery of such policies shall, in the event of default, constitute an assignment of the un- -
<br />sarned prsmium.
<br />Any sums received by the Mortgagee by reason of Toss or damage insureu against may be rnfained by the Mortgagee
<br />and appli€sd toward fhe payment of the debt hereby secured, or, at the option of the iE4artgagee, such sums either whet,,, ar in
<br />part may be paid over to flee `rs 3r#Kagar to be used to repair such 6uiidings ar to trvild'new bui~din~ in their place a' far any ,
<br />other purpose or abject satisfactory to the Mortgagee without atfec±ing the lien an fete mortgage (or the tali amount sera red here- -
<br />by hefam such payment ever tack place.
<br />Ta promptly repair. restore ar rebuild any buildings or imprmements now or hereafter on the premises which may he- -
<br />come damaged or destroyed; to kip said premises in gocvl condition and r~p~tr and free from any mechanic's lien or Dreier Fier. or -
<br />eiaim of }ien oat exprassfy subordinated to Lire lien hereof: oat to suffer ar permit cry anlawfui use of or any nuisance to exist: on
<br />said grape:•ty na= ±a permit rvasLe cxt said premises, nor ir, da any ether act avl:ereby the property hereby conveyed-shat} become
<br />}ass valuable, nor to diminish or impair its value by any act or omission. to act: to comply wi£h I requirements of law with respect -
<br />to #rre mor#gaged premises and tlxe use thereof.
<br />That shoutd the premises nr any part thereof be taken or damaged by reason of any- public improvetnent ur condemnation
<br />proceeding, or under ttse right of eminent domain, or in any other manner the Mortgagee shalt be enziztEd;ta.ail'tt+ntpeusations,
<br />awards, and any ether paym.~pt or relief therefor. and shall be e»1Stied, at its option, io commence, appear ttt and prosecutetn-its -
<br />aw-n name any action or Proceeding, or to make any compromise or settlement in cronne;;tion with such taking ar damage. _All such -
<br />compensation, awards, damages, nigh! of action and proceeds are hereby assigned to the Mortgagee, who may, after deducting
<br />L}rerefrom all its expenses, release any moneys so received by iL or apply Lhe same un any indebtedness secured hereby. The 'E+lorf- -
<br />--gagor agues to execute sut•ft further assignmentsoF any c.ompensatian, awards, damages, and rights of caftan and-proceeds as the -
<br />Mertgagee mat require. - - - - _
<br />That in case of failure to perfor;n any of the covenant: herein, the 144ortgagee may do on iha dlartgagar's behalf everything - -
<br />sa cavenansnd; that the Ivlartgagee may also do any ack it. may deem necessary Eo protect rite }ien thereof that the Mr,-rtgagor wii3
<br />repay upon demand any moneys paid ar disbursed by the 44ortgagee fo,- any of the above purposes. and such money-s together with
<br />interest thereon ai fire rate provided in said note shall became sa much additional indebtedness hetehy secured and may be in- -
<br />cluded in any dsrme foteelosing ibis mortgage end lie paid out of the teats or proceeds of sale ~of said pretirises if trot htiwrwise
<br />paid; that it slratl not be nldigatory upon tFre r4artgagee Ln inquire info the validity of any-lien. encumbrances, ni• claim in ad-
<br />var~ing marteys. as a'~re autborired, but r:athing izeresp captained shall be construed as requiring the Mortgagee to advanre any
<br />moneys far any such purpose nor £o do any act hereunder; and =hat A•4ortgagee shall not incur env persona! liability because of any-
<br />Liaing-it may da ar emit to do hereunder. - - - - -
<br />In fete event of the, dofauit by iviartgagar in the payment of any instailmenY, as required by fhe Nate secured hereby, or
<br />in the -performame of the abligatinn in this mortgage or in ere Hate secured E-hereby, the. It3ar[gagee-skrall be entitled. is declare-~tite -
<br />debt secured hereby due and payable without notice, and the Mortgagee, shalt be entitled at-its option, without nati~, eifliQr•,hit:itseif -- -
<br />ar by a receiver fo he agpainted by the court thereof, and without regard #o ifie adequacy of an:• security for the ;tea- ,i-,«~,;~ `,~~ - - -
<br />ture€i hereby,-to enter. upon. and take possession of the mor*>gaged. premises, atxd to collect and res~ive.the rents, issues a±id profits
<br />thereaf, and agpiy the same. less. eeisfs aC opesafion and collection, upon the indebtedness secured hj! !Iris mortgage; said. rents,
<br />Issues and pro4its being hereby asaigired -to the iL4aitgagee as further security for the payment of at} }ndeT>Ledhess secured-hereby. _
<br />- ~ T,+t :`+:zsrlgs~;-~ ~sii ;rave th,= gcpver fa a4xpoirii any-agent ar agents if may -desiri?-for Srrc purpose of repairing. said Freest.
<br />tsar; ranting Ehe setae;~ roiiecting the rents, revenues and income, and it may-~~y.out of said.intottae BlCetipelrses IiieurreYl'-itr lent= -
<br />irig and i»anaging the same and of coIlecking the repeals therefrom. The balance remaining, if any, s`hali be apgiied toward the
<br />discharge of -the, mortgages»dabtednesa. I`his asaignutent_ is.to terminate and become-null arid~void.vpon. release pf.thixmartgage. _
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