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'T=HE MtTR'I'G.~G4R FIJRTJKER L'~DVENANTS AND AGfiEEB: ;, - -
<br />That the Mortgagor will pay the inrebtedness as heminhefare.pxravided,-_-. - -
<br />That fhe ~Mortgagar_-ia fife ~lwiter of raid property in fee simple and has good-rig}:t and law[ul autharitp to sell and- - -
<br />convey the sattae.and that the'same is free and Blear of arsy lien or enciamhrance; and that 113ortgagor will warrant and $efend the
<br />tine to said.premiseis against the'.ct,tirits a[ alt iaersaret-. kihoinsoea~er..'
<br />To pay i»emedia±ely x+~, t :r. ~ ~ rvy~t,t~ tl genrira' # x~, aN. c, :' taffies, s~eias a~,srrcnnfs, wafer charges. sewer cerv~
<br />fee c3:arges, and:other taxes-and cherg~ agatnst seed property, and-aft taxes ievfed an the debt secu:ed hereby, and io-furnish the.
<br />Aortgagee, upon request, with the angina! or ilirpti¢ate receipts therefor, -The Mortgagor agrees LhaL there shall tae added tea
<br />+ each monthly payanettt required hereunder ar•undez the evidence of detr3 assured 'Hereby an amount «stima#ed by Ehe Mortgagee
<br />to ~ svHi .ant tra..'guable fhe::. +'•iort a€e,~ is pap. as they became (foe, a!1 `taxes. assessrttents, and similar eh2rgac vpnn thA prem> -.
<br />tE!,f^ lass subjeef thereto; any defCiency 4x•rause of the inaufficiercy rf such additianat payments shaft 6e foeEfrwith deposited by the
<br />~.. Mortgagat with the Mortgagee upon demand by the \3artgagea Any default andۥr this paragraph shalt be deemed a default in
<br />~,, payment <af taxes, aasessmerifs, Hr sirni4ar charges r«quirer! hereunder. -
<br />~+ The M.>rtgagor_ agrees that there- shalt als.: he added to such monthly payment of principal and- interesk required here-.
<br />I mnder an amount estimated by the :tgartgagee t„ ere suRcicni to enab3a the V1vrYgagre fa pay, as it becomes eIue, the insuranrr_
<br />~ pre:nsum on any insurance policy delivered to the Mortgagee. Any deficiency he~cauce n( the insufficiency of such artditianai pay-
<br />ments shaft tae forthwith deposited by the Morfeagar with the ~3arro,~oc:e up„n de-neand by *.h~ it3artgagee..A.^.y defav(t .irder fh€:
<br />paragraph shalt Lae deemed a default in the fsayrnent at insurance premiums. If the policy ar paliciec-iiepositeii a;e sue?t ax heime-
<br />owners ar elf risk policies, asd the delx>sits are insutfirient to pay the entire premium, the b3artgagee ma:: apply the deposit to
<br />pay premiums an risks required fo fn: insured fay this mortgage.
<br />IaaymfrifS made by the Mortgagor under the above paragraphs may, aE the option of the Mortgagee, tae belt;'#ay is and
<br />camn:ingfed with other such funds ar its awn €un<ls for -the psymeat of nreh i#ents, and until era applied.- such payments err- hereby
<br />pfectged as security for the unpaid );stance of the mortgage indebtedness,.
<br />Ta proxure, deliver ta. and maintain for fhe benefit of the hfortgag•~e during the life at t!ris mortgage crriginsl policies and
<br />renewals thereof, 3affvered a( least Een days before the expiration .sf any such policies, insuring against (ire end ether insurable
<br />hazards, casualties, and contingencies 3s the Mortgagee may requfre, fn an amount equal fa the indebtedness secured $y this
<br />fvfartgage. and in campansrs acrnptah!e to fhe h4ortgagr:F. •.v~ith loss payable clause' in laver of and ir. Earn: acceptable fa €ha .`.~tortga-
<br />gu'E. In the event any policy is Hat renewed on ar lsa:fare ran days of its «xpiratinr., the Aforigagee may procure insurance on ttse
<br />imprr_we.-nents, pay the premium therefcr, and sash sum shaif txt:ome immediately due and payaht« with interest at the rate set
<br />€ortfe in saki Hate un#il paid and she.! !se secured by this mortgage. Failure on Lhe part rf the !4lortgagar trs furnish such- renewals
<br />as are herein. required ur failure tns pay any sums advanced hereunder shaif, at. the option of the Mortgagee, eanstitate a- default
<br />order the terms of this mortgage, The delivery of such policies sba[f, in Lhe evert of rlefauEt, constif ate an assigrimenk af- the un•
<br />earned premium. -
<br />Any sums received Fry the Mvngagee-hy reason ri toss or damage insured against may Ix retained b3' t'rre ~Iririgagee
<br />and applied toward the payment ct the debt hereby secured. vr, at t}te option ct the !4'fcrtgag«e, such sums; «ither whalh> ar in
<br />part may t,e paid aver to fhe 4+ortgagar t<. !>E used t^ r?pair sac#r bui;~iings or to builti'new buildings in (heir plate ur fa: any
<br />other purposes or abject satfstort.;ry to the ;s3artgagee svithnuf a$e<-tirg the lien :ut the mortgage far the (u!f amount secured here-
<br />by before such payment e _- ~a,k pLacF
<br />To pratnpfly repair, restore or rebuild any buildings or imt,rovements now ur hereafter an the premises which may he~
<br />came damaged or destroyed; to keep said premises itt goad condition and repair and free from any mechanic's ii«n ar ether flea ar
<br />claim of lien not expressly sutwrdinated to the lien hereof: Hat to sorter ar permit any untawful use of or any nuisance !a exist on
<br />acid property oar to permit waste an said pr«mises, oar fn do any ot4xer act whereby the property hereby conveyed shaft became
<br />less valuable, nor to diminish or impair its value by any art or cmic_sian fo ai-t: ±a crmt;t~ ~.vifh all req.tirement::rf iaav with respect
<br />to tine mortgaged premises and the use thereof.
<br />-1 ixat sixouid the premises of aey part thereof be taken ar damaged 6y reascn of any isulrlic improvement ar condemnation
<br />proceeding, or under the right. of eminent domain, or in any ether manner, the Mortgagee shaft be entitled to al! compensations,
<br />awards, and any other payment or relict therefor. and--shat! I+e eititled, at its cptian. to commence, appeal ~in andpiost~ute-in ifs-
<br />own name any aeiion ar proceeding, ur to make any campromvse ar settlement in connection with such taking ar damage. Ali gush
<br />ctimpensation, awards, damages, right of aetian and proceeds-are beretty assigned :a the Mortgagee, w-ho may,- after-deducting
<br />therefrom ail iLa expemses, release any moneys so received. tsy it ar apply Fhe soma =gin any indelttednes„ szc-ar~f ~-,zrehy.:TiTa ;r`aart-
<br />gttgrx-agrees.to-eXexttte aurh further assignments of any compen:atitan, awards, damages, and righter of action. and-proceeds as,the
<br />Mortgagee may require. - -
<br />That in case of failure to perform any of the covenants herein. the lforfgagee may do or. the Marfgagar's behalf everything
<br />so covenanted; that the Mortgagee may also do any act it rosy deem necessary to protect the Eien thereof; ftrat the '13artgagor wiP1 . -,.
<br />repay upnn demand any rnaneys paid or disbursed tsy the Mortgagee-tor any of the above purposes, and such moneys tagetliex with '_~_
<br />iritrai•~t thereon at the rat: pr.^:ided fn aafd rate steal: hecamcr sa mur:h addifionat indebtedness hereby secured-and may--#se 5n--- -
<br />cluded in any decree fareciasing this mortgage and 4ae paid out of rite rents er proceeds of sate aF >-aid premises if not otherwise
<br />- paid; that ii shaif not be obligatory upon fhe Mortgagee !o inquire into the validity of any hen, encumbrances, or claim is-ad-
<br />vanczng-tnoneya ax above avthnriaed,#xut. nothing t~rei-, eantained shaft be construed as xequrring the~Mortgagee to advance any °"
<br />rnnneys for anY such purpose mar to do any act: hereunder; and that Mortgagee shat: neat incur any personal tiatrStity-hecattse_o# any-.
<br />fixing it may des tx orrtit to do hereunder.
<br />In fhe+ event of th« rlefaudi fay Martgagar fn-the payment of any inatalimznT, as required.hY-the Noce-secured leereby, _os -
<br />in the petfamrance of the abligatiun in-this mortgage or in the-note secured ttiereby, the Mortgagee shalt Fee entitled to dirciare the
<br />debt secitzed }tereby, due and pays6le without notice, aa3 the Mortgagee steal! he entitled at its nptian, without notice, either fly itself
<br />or by a receiver to 4e appointed by the court thereof, axid~-without regatd to the adequacy of -any security far the indebtednex se-
<br />cured hetelry, to enter upon and'Ea:te po+s§esssan a?`'the mortgaged premises; and to rxiliect-and receive the rents."ianues sn8 p:tt>its
<br />therea`; -and apply ttre earns, ,less coats cif operatiari'andce,ltectlnie. -upon the inBebteiimess assured 8y this rnnttgage;. said rents,
<br />- it;sires-aiut predrita-l~ing'herebq -assisnecE-tathe R4~rtgagee~ ftti~thg: aeetjrity fair the-payriit'rt-of slI-tndehtodncss se~vred hereby:-~
<br />The Mortgagee shall.have the power to appoint any agent or agents ft may desire for the purpose of repairing said prein-
<br />iees; renting the.oame; txrElestirtg the rents, revenues and income, and it may. pay out of said income a!i expenses incurred in rent- -
<br />-ng and- managY»g the same snit of ccrliecting the rentals therefrom: The balance remaining; if any, shall he applied toward the
<br />discharge cd the ttiortgage indelrtettnoss:. This assignment is--tu derminste axed herpme null and --void upon release of This mortgage.
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