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<br />THE MORTGAGOR FCIRTHER COVENANTS AND AGREES:
<br />That the Mortgagor u•itl pay the indebtedness as }tereinhefore provided. - -
<br />~' ~~ t
<br />1`hst the hSorfgsgar is the owner. of said o iii, fee_sitit to '~
<br />prape_y p aiwfl - godc?i ~rYght and lawful aulhonty. to sett sort
<br />convey the satneamcittiat~ihe~amo-is'free and-clear of any-lien or encumbrsrttcc;-and thatMortgagur wilt warrant-and defend-the
<br />title io said fjreittlai5 agai~t the. ctsutns of all persons whomsoever. - - -
<br />To pay immediately when dtt'e.and ~ye61e aIt geterat taxesr special taxes, special assessments. wafer Charges.. sewer zzer+r-
<br />ice charges, and other taxes and:ahaeges against said- property, a;nd alt taxes lewd on the debt secured hereby, artd Go furnish the
<br />Mortgagee, :vpau rgttest, avif}t:tlta-original- ar dttyilfcate raaeipta therefor,--'fke Mortgagor agrees that there shaI2- be added-fu
<br />each monthly payment-rt~{itired herounder ar under khe evidence of debt serared hereby an amaunS estimated by the Mortgagee
<br />to be suicient to enable the Mortgagee io- pay, as They become due, af!-taxes. assessments, and similar charges upon the prem-
<br />ises subject.. yhereto;-any. deficiency becaus. of the iosutTiciency of such additicna! payments shat! he forthwith deposited, try the
<br />Mortgagor aithtli€.Mortgagee.upon demand h}~ the Mortgagee- i:ny-default under this. paragraph shall-be--deemed a'.tlefautkiir
<br />_. __ - -- - rir~siiriilar char - - ..: ....... ._- - _ .. ~._:-:
<br />jrayment- cif fazes, ~asseissments, get required hereunder. -
<br />L't~ The Mortgagor agrees that Lttere shall also be added to each monthly payment of princijfal and interest reiluitinf here-
<br />~'~ -under pan amount estimated by the Martgagee to be sufficient to enable the Mortgagee to pay, as it becomes due; !he- into ranee.
<br />+-premium on any insurance policy delivered to the Mortgagee. Any deficiency because of. the insufficiency of such edditianai. pay-
<br />. meats shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Martgagee. Any default under this
<br />paragraph shat] tae deemed a default in the payment of insurance premiums. If the policy ar policies deposited are.sueh.as.ttame-
<br />;"°' evinces or alI'risk policies, and the deposit- are insufficient to pay the entire premium, the Mortgagee may appiy'ihe depaait to
<br />"'"" pay premiums on risks required to be insured by this mortgage.
<br />~ Payments made by the Mortgagee under the above paragraph- may, at the opfian of the Sortgagee, I>e heft!-hy it and
<br />t ~. commingled with ether suet! funds or its own funds for the payment of such items, and until so apptlyd, such payments are hereby
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
<br />To procure, deliver tn, and maintain for the benefit of the Mortgagee during the life of this mortgage arigiratl paticies and
<br />renewals thereat, delivered ai least ten days before the expiration of any such paticies, insuring against fire and ether insurable
<br />hazard-s, casualties, and cortingeseiea as the Mortgagee may require, in an amount equal to the indebtedress secured by this -
<br />Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form aceeptabie Ia the Mortga- -
<br />gee. In the event any policy is not renewed an or before ten days of its expiration, the Mortgagee may procure insurance on the -
<br />improvements, pay the premium therefor, and such sum shat! become immediately due and payable with interest ai the rate set
<br />forth in said note until paid and shaft }x secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />ss are herein required ar failure to pay any sums advanced hereunder shall. at the option of the Mortgagee, canstitute a default
<br />under the terms of this mortgage. The delivery of such policies shat], in the event of default. canstitute an assignment of the un-
<br />earned premium.
<br />Any sums received by the Mortgagee by reason of loss or damage insured against may be retained by the Mortgagee
<br />and applied toward the payment of the debt' hereby secured, or, at the option of she Mortgagee, such sums eitbe7 xb.:.. ar in
<br />pare may he paid aver to th^ ':=~?ortgagor to be used to repair euch buildings or to build'new buildings in ttreir place ar for any
<br />ofhet purpose or object satisfactory fo the Martgagee without affecting the lien on the mortgage for the foil amount secured here-
<br />by before such paymen£ ever took place.
<br />Ta promptly repair, restore ur rebuild any buildings or improvements nou• or hereafter on the premises which may be-
<br />come damaged or destroyed; to keep said premises is good rnndi lion and repair and free from any mechanic's lien ar ot?ter lien cr
<br />claim of lien not expressly subordinated to the sea hereat, n:,t to :utter or tre•rmi: a unlawful use of w any nuisance to exist on
<br />acid property oar La permit waste on said premises, oar to do any other sot whereby the properfy hereby conveyed shall become
<br />tens valuable, nor to dimintah or impair its value by any act ar emi_sinn to act: to comply with alt requirements of Iaw with respect
<br />to the mortgaged premises and the use thereof.
<br />That should the premises or any part thereof be taken er damaged t,y reason of any public improvement or condemnation
<br />proceeding, nr under the right of eminent cfr+main, +,r in any ether manner. the 'v7nrtgagee shat. be entitled to all compensations,
<br />aarards, and any other payment ar relief there€ur, and shall be a^tilted, ai its aptinn, to commence. appear in and prosecute to its
<br />own name any action or proceeding, or to make any rompromise nr settlement in conneeiion with such taking ar damage. Alt such
<br />tromperlsaiion. awards. damages, right of action and proceeds are hereby assigned to the j+Iorigagee. who may, after deducting
<br />themfrorn all its expenses, release any mune•ys Yo received by it +.r apply the .ame +•n any indebtedneti_~ ;<rcurrd hereby The ~tcr[-
<br />gagor agrees to execute such further as-signmenLs of any ^om pznsat~on, awards, damages. sett righks of aef ion anc! proceeds as the
<br />A.tortgagee may require.
<br />That in escse ai failure Lo perform any of the covenants herein. the Mortgagee may do on the Mortgagee s t,ehakf everything ._ry~
<br />sa covenanted; that the Mortgagee may also do any act it may deem necrsaary to protect the lien thereat; that the Mortgagee will
<br />repay upon demand any moneys pawl or disbu red by the Nf artxagee fur any ui the afN ve purprxe<, and such moneys tnge[tier with ~-
<br />interest thereon of the rate provided in said note shall became sn much additional inrlebiedness hereby secu: ed and may t>z in- --
<br />eluded in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if oatotherwise "`
<br />paid; that it shat! not tx• uhiigatory ::{>+~_^ `. h+• -.3+>r!;sr€cv* ;,, ir:Gapise• into, the :•stidity of an:- lien. enenmhranrv=. r,r rlaem in eid- '-
<br />vattcing moneys as abcrie authorise:]. but riot ping herein contained shalt t>e corvsiruerl as requiring the Mortgagee to advance any
<br />nso~ys far any such purpose oar ice rln any art he rcundrr: and that Mor[ga€ee shall not incur any penunaf liability t>fcacr_se of any-
<br />thing it may do or emit W do hereunder. ~ -- -
<br />- - ._- -In the event of the default by A4urtgagor in the payment of any instaitment, -as required- by the Note secured---herby,; qr -
<br />in:the-pei3atynarere af,the ohiigatirn in ibis mortgage ar in the note secured thereby, the .".lcrtgagee shalt he e=ntitled to declare the
<br />debt seatrred hereby due and payable without rotlcve, and the :tfortgagre shall be entitled at its option, without Hotter., either try itself
<br />ar try a receiver to be appointed by the con rt the: euf. and without regard to file adequacy of any security for the indebtedness -se-
<br />eured hereby, #o enter upon:-and take possession cif the mortgaged premises, and; to collect and-receive thie rents, issues and profits
<br />iheieof, and apply- the same, Ie~a erasfs uE apcralion and cetllection, upon .the indebtedness secured by this mortgage aald rert#s,
<br />issues.anal profi#a being hereby asstgned to tfse Mortgagee ax further security :or the payment of a1T 'usu+etstednesa securbrl hereby. ~ ~_ -
<br />_ - --The h{arS$agee shall tfave-the power to appaink any agent or agents ik may desire-for the.purpaae-of repairing said prem-
<br />is...s; renL~ng the s..:,.e; -culleating the rents, revenu°a and income, and i! :nay. peg oat of-said income a!1 expenses iacttrred: in retft-
<br />ing and managing the same and of collecting the rentals therefrom. The balance remaining, if soy, shall be applied toward the
<br />discharge. of -the :mortgage lndehtedness. This assignment is !o terminate and hecotne null and void upon release of Shia mortgage.
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