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'THE M~RTGA{,{}R FC3RTI~iER CQYENAN'PS AND- A!"rR~':... -
<br />3t :~ ~ -
<br />ThaE the Marigagar wile paY the indebtedness.as-:ftereinhefore- prayided; ~- -~ - -
<br />That. the -Mortgagor s the owner of :.aid .property in fee sinrpte and has good right and lawful authority to seU and _
<br />- c~vn.,e}~ the -sa..re-.a=*;d that th° ° :° r.^°e nd cn~tir ~' any Iien-ar a ~~irxnb.ar:^tr; and that Martgagar -affil warrant and defend t?;e -
<br />_ title to said.prcnnises agairfsi th.• e~laimw cf'ate-pasa„rra.:whrxrisoover..- - -. '
<br />-'^ - --~-- - _ n.:raP lax .ik-specrtit :a:e@.. special -assessments, water charges, sewer serv-
<br />e pay ~,r~.. ~'~ t ;.: _ ~ seta n --- -
<br />ice charges andother taxes-arid- charges against said property, and all taxes ievie:! an the debt, srrured hereby, and-to farmsh the . - -
<br />Mar#gagae, upon request„w-ith the original. nr dtiplieate ieeipEs therefir. The Miirtgagar agrees ~ihaf there shalt }re added to
<br />each monthly payment required hereunder nr under the -evidence a! debt secured hereby an amount estimated by the Mortgagee
<br />?~ to be .5-tffcten# to er~62e. €S~c> ~Mnr#gagee to ray. as they become due, a2I taxes, asses4:ment- and simtlar-charges upon. iht pren:-
<br />>.ses subjeeE thereto; any deficiency because of the iasufficiPncy of such additional payments -shall be fart}iwith depastted- by -ihe - -
<br />?tfortgagor wxtie -the Mortgagee a[mr, dem.:nd irp khr h4rertgage~- Any default under this paragraph shall €ie deemed a de€ault in
<br />payment of fares, assessments, ar similar clw rges required hereunder. - - - ~ - _ - ~ -
<br />The Mortgagor agrees that there shall -aian he added &e :=ash monthly payment of principal anr! rote-test, required here- _
<br />under a:r amuunC e=stimated by the ^dortgagee to be sufficrent to enabler the Mortgagee to pay, as it becomes due, the insurance
<br />~, Premium on any insurance policy delivered to the :viortgagee. Any deficiency ber:ausn of the insufrcianey of such addifitsnal pay- -
<br />!"~. nteah, =hall trt farihwith deposited by the Mortgagor with the :11orEKager• upon riemand by the '.titc:rtgagee. Ar,y defa:ti{_ under this
<br />paragraph ;hall he deemed a default in the payment of insurance premiums. If the pea?icy ar policies tlepr:riled are sueh~ a5 home-~
<br />owner or s!( risk Fxeiicies, and the depasi#s ace insufficient to pay the entire premium, the Mortgagee may apply the depo:+it to
<br />pay premiums on risks required {o }ie insured by this mortgage. - - - - -
<br />Payments made by t}}e Martgag~•r under the ahnve paragraphs may, at the nptinn of the Martgagea,:he held by it and
<br />comn:ingied with other such funds or its awn toasts far the payment of <uch items, av:d until sa applied, such payments are heiehy
<br />pledged as secneity for the unpaid balance of the mortgage rode btedne+s.
<br />Ta pr*_ecure, deliver to, and maintain for the bonefi{ of the Rtarkgage.-e during the life of this marLgage ariginsl pnticies and
<br />rnnewats thereof, drhverr~+1 at least ±en drys kxefare the espira Si<;n of any Luc?: Po?iciea. irsu ring against fire and ati:er it ~~ able -- -
<br />hazarr?x, casualties, and c^ntngencies as the Mortgagee may require, in ar. amount equal to the indebtedness secured by this
<br />MartgaQe, and in u>~mPanies acceptable to the *lurfgagee, with lo_=s payable cF_anse in Eavor of and in form acceptable to the M+rrtga-
<br />gee. Sts the event any policy is rat, renewer2 oa or ~ri;f:re ten days of its expiration, the Risrtgagee rear Farocu r-e insurance an dhe- -
<br />ins;',revements. pay ihc•-premium tnrref*~r, and =_uch sum ,Shalt 1*ec:~.*me irr~xne-tliats:y :lue~ 2nd payae'e ivitt! inter=sti at the rate sat. -
<br />ferth in said note until paid and shall }N- accused by this mnrtgage- Failure orz the part cf the Mortgagor t~a famish-such. eenewaL -
<br />as are herein required or fa$ure to pay any sums advenced he rounder =hall, at the option ^f the Rortgagee, e:vnsi3tute a defautt - _
<br />under the tertna of this mortgage. Tire delivery of larch pnitcie; shah. .n the event of :-t~ault. r~nstY ate an assignment o€ the un-- - - -
<br />earned prnmium. - - -
<br />Any sums received by 'l:. R4artgagee by reason ^f loss or :tamage insured against may he retaitx•d by the blorigagee
<br />,-.,-_ r~Fie.l toward the payment of the debt h?rehy sr.,urc-cl, or. at the option of the 4iortga•5ee; sash cams either svho}l}'-ar-iri
<br />Fart may he F}aid Deer to the irfartgagar t•> he used to repair such buildings ar 20 build new huikiings in filreir pta:'e-ar far oily:
<br />o{her purpose or object satisfaafory to the Mortgagee without affecting the Iien on the mortgage :`or the full amount secured bare-.
<br />by he&.re such payment aver took place.
<br />To promptly repair. restores or rebuild any buildings rr in rpttevrments saw or hereafter on the premiers wtxich may be-
<br />came damaged or destroyed: to keep said premises in Bard cardi lion and repair ancf fn'F.^ tram ary mcehanic's Iien or other Iien or-
<br />claim of lien not expressly su'oardinated is the lien hereof; rat .~; salter or permit any unlawful use-of cr ary nuisance to exist-on
<br />said property ear to Permit waste an said prerni.*-es. nor to du any other act whereby the property hereby conveyed shal# I•recome
<br />less valuable, nor to diminish or impair its value by ary ask or omission to act: to comply with aft requirements ref law with respect -
<br />ta the mortgaged pcemises and the use thereof. - _-
<br />That should the Premises or env Part thereof be taken or damaged by reason of eery public improvement or candemnatiotz
<br />proceeding, ar under the right at eminent domain, ur in anu a{her manner. the Mortgagee shall (~• entitled to adl compensation-s,
<br />a.vards, and- say other payment or wiie.F therefor, and shalt be entitled, ai its option: is commence, appear in' and-ptosecute -in-itS ~ -
<br />awa name any action or praeeeding- ar fo make any compromise or settiemenf in cannecfion with Bach taking err damage. Ali such -
<br />campensa#ian, awards; damages, right of action ami proceeds are hereby assigned to the Riartgagee, -who may, attar- deducting
<br />therefrom off its-expenses; release anY moneys so received by it or aPRTy the same an any indehtednes secured hereby. The Mort-
<br />gagor agmea-#a exeeute~ sorb further assignments of any compcnsatian, awards, damages, and rights of action and proceeds as the
<br />Mortgagee may require. - _ - - -
<br />Ir `~
<br />That incase of failure to Pertorne any rf the covenanis herein, rite R.origagea may do on the- Marigagpr's behalf everything- _ _ -
<br />sa covenanted; that the Mortgagee may also da any act it may deem necessary to protect the lien thereof; thaT the Martgagor will v
<br />repay upon dorrt~nd-any moneys paid ar disbttrned by the Rt'ortgagee far any of the above purposes, and such moneys togeE}ier with Per,
<br />interest thereon at Ehe rate-provided 'in sa'sd rate shall became so much additional indebtedness hereby-secured and may he in- -
<br />cluded in anY decree foreclosing this mortgage and fie Paid out of the rents or proceeds of salsa of said premises if- not ottterwise- '""
<br />paid: that it shall rat Ere obhgatery upon the Mortgagee to inquire into the validity of env lien, encumbrances. or claim- in ad-
<br />~vaacing:moneys as alcove-authorized, but nothing herein satriained she}i be.copatrued as~ requiring ttre Mrrtgagee to advance any
<br />rr,r:A~~.#penny-such:3zttr#w~s~norbst~nsny.set''ttereant3er;and:thatMa:~gagreshs[I-:'tutu.tits-anvperat,natlisEriftty-br~au~-o€an3'-
<br />- - ---
<br />- ttring.•it_raaY do or umit.ta do-hereunder. -
<br />- Sn the event of the default, by--hiuz3gagpr in the payment of_ any insEallmenk, as required hy.fhe Note secured hereby, or. _
<br />in the ~.rformarice of the olsliga#4an in this mortgageor in the Hate secured thereby, the MorEgagee shall 6e entitled to .leclaee they - ` _ -
<br />deb6.aeeured hereby due. and. payable without notice,. and the Mnrtgagee xhaii be entitled. at its option, withnut notice, either: by i4seff
<br />a. ::,r*.& :«, ~: to E~ c,..p.e:.;Yeai-hg ±F.e c-a~~ tt,e.eof oriel- wti€hot#tegartl f,. k#txr -r.Sle4uacy nt-anq szc. tiEfY-for lhP itttF~EQrltt¢gs-se-
<br />~ -
<br />#~r'enter upon rind take pa~•csslar of tlie'n:origagerf preiat`sea, aid fo~ collect and receive the ~reniv, rssiies .and ptoft#a -
<br />- eq ti hereby~ _
<br />- tfteieof,. girl` apply tl:e name, 'rs clots-of operation and m?Igctzoa; ~~upan the indebtedness ~rresrcd'-hy this t+iaitgage; said tents r-- ' _
<br />'it~i>~>zr~f ;rrcifit•r Pxinghr+reba a~-i~¢d tnShe k4nrtpaFre a= ftirthflr se~rity for the payment of elf=intfehtedne~ Rne~rcexi her~tfy_
<br />_. - The--blorEgagcY->haif have the ptswer~to appoiirt env agent v: agent„ it may desire for ttte purpose-^f-mpairing said preen- -
<br />ise;; renting the aatnet caUectinl the renrse ravcnuea and income, and it Wray Ray out of void income a!! expenses incirrrncl in rent-
<br />- ireg_ assd_ itiarzaging the same -and a[ calls-sting 'ha rentals thFirrkmm The }iaians:e remaining, if anY, sttatl 6e" applied tpw~id the
<br />- diaeha;ge ^t. -'stortKsgi ittdcehtedtr=~. Tit 9 A=aigrr*rent is h, termioa#e and Itetum,~ nult_and void-upon ,release of this mortgage. -
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