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<br />THE MORT(>AGOR FURTHER COVENANTS RND AGREES:
<br />That the Mortgagor will pay the indebtedness as hereinbefore provided- - -
<br />That. t3te .~'.s~.,ga-gar is-the awnar'of said propertq in fee simple-and- has -good right and lawful -authority- to soli and
<br />g rnnvey the same and tfist thz aarrte~ as free grid cEear of aria'lien or encumbrance;- and that Mortgagor wilt warrant and defend the- - -
<br />~€ title to said premises agarttst the'-claims of ail persons whomsoever.
<br />To pay immediately wkea-due and,payable.atl general lases,-special taxes, special assessments, water charges, sewer serv-
<br />F ice charges, and other taxes and rliarges.agarnst said property,-and all taxes levied on the debt secured hereby, and to furnish the
<br />Martgagee,-upon.requesi, with flee original or duplicate teceipfs therefor. The Mortgagor agrees that there shall be added to
<br />- 'each monthly payment required hereunder ar under the evidence o€ debt secured hereby an amount estimated by the Mortgagee
<br />- ~to be suLrecient to enable the Mortgagee to pay, as they become due, all taxes, assessments, and similar charges upon the prem-
<br />tees subject thereto;- any_ defictency, because of the insufficiency of such additional payments shall be forthwith deposited. by- the
<br />sa+l Mortgagor with the Mtiftgagee :Upon demand by the Mortgagee. Any default under this paragraph shall-be deemed a-default~fn
<br />,~ :payment of taxes, assessments, or "similar charges required hereunder. - - - -- -" ~ _- -- - - - -
<br />The Mortgagor agrees that there shell also be added to each monthly payment of principal and interest -required here-
<br />p ~ under sn amount c-stimated by the Mortgagee to be striucient to enable the Mortgagee to pay, as it becomes due, the insurance
<br />~ premium on any insurance policy delivered #o the Mortgagee. Any deficiency because of the insufficiency of such additional -pay-
<br />~ menu shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br />paragraph shall be deemed a default in the payment of insurance premiums. if the pul icy or policies deposited are such as home-
<br />owners or all risk policies, and the deposits are insufficient to pay the entire premium, the Mortgagee may apply the deposit to
<br />pay premiums on risks required to be insured by this mortgage. - -
<br />Payments made by the Mortgagor under the above paragraphs may. ai the option of the Mortgagee, (x' held~hy tt and
<br />cornmingted with other such funds or its own funds for the payment of such items, and until so applied, such payments are hereby
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
<br />To procure, deliver to, ana maintain for the benefit of the Mortgagee during the Hfe of this mortgage original policies and
<br />renewals thereof, delivered at least ten days before the expiration of any such policies, insuring against fire and other insurable
<br />Itazards, casualties, and contingencies as the Mortgagee may- require, in an amount equal to the indebtedness secured by this
<br />Mortgage. and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the lvtortga-
<br />gee. In the event any policy rs not renewed on or before ten days of its expiration, the Mortgagee may Isrocure insurance on the
<br />improvements, pay the premium therefor, and such sum shall become immediately due and payable with interest at Lhe rate set
<br />forth in said note until paid and shaft tee secured by this mortgage- Failure on the part of the Mortgagor to furnish such renewals
<br />as are herein required or failure to pay any sums advanced hereunder shalh at the option of Lhe Mortgagee, constitute a default
<br />under the terms of this mortgage. The delivery of such policies shall, in the event c,F default, constitute an assignment of the un-
<br />earned premium.
<br />Any sums received by the Mortgagee by reason o[ lass or damage insured against may he retained by the Mortgagee
<br />and applied toward t`.~e payment of the debt hereby secured, or, a? the option of the Mortgagee, such sum; eiEF~~ Y•hal!y or in
<br />pars may be paid aver to the Mortgagor to 6e used to repair such buildings or to huitd'new buildings in their place or for any
<br />other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the ful} amount securer} here-
<br />sy trCore such payment ever took place.
<br />To promptly repair, resWre ur rebuild any- buildings ur improvements now ur hereafter on the premises which may be-
<br />come damaged or destroyed: to keep said premises fn good condition and repair and free from any mechanic's lien ar other lien or
<br />claim of lien not expressly subordinated to the lien hereof; not ko suffer o,* perrrtit 2ny unlawful use of or any nuisance to exist on
<br />said property oar to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shaft become
<br />Tess valuable, nor to diminish or impair its value by any act or omission to act: to camplp with all requirements of law with respect
<br />to the mortgaged premises and the use thereof.
<br />That should the premises ar any part thereof be taken or damaged by reason o[ any public improvement or condemnation
<br />procetding. or under the right of eminent domain, ur in any other manner. the lturigagee shall ha entitled fa all compensations.
<br />awards, and any other payment or relief therefor, and shall be entitled. at tie option, to commence. appear in and prosecute in its
<br />awn Warne any action or proceeding, or to make any compromise nr settlement in connection with such taking or damage. All such
<br />compensation, awards, damages. right of action and proceeds aro hereby assigned to the Mortgagee, who may, after deduMing
<br />therefrom all its expenses, release any moneys se received by it or apply the same on any indebtedness secured hereby. The Mort-
<br />gr~ar agrees to ezecvte such further assignments of any compensation. awards, damages, and rights of action and proceeds as the
<br />Mortgagee may regaire.
<br />Thal Sn case of failure to perform any of the cotenants here+n, the 11+artgagee may do on the ~iortgegor's behalf everything
<br />so covenanted: that the 14tortgagee may ales do any act it may deem ne<•easa ry to protect the lien thereat, that the Mortgagor will
<br />retsey upon demand any moneys paid or disbursed by the bortgagee far any of the above purposes. and such moneys together with
<br />interest thereon at the ra?e provided to said note shall become so much additional indebtedness hereby secured and may he in-
<br />clude$ in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if nut otherwise
<br />paid; that it shalt not be obligatory upon the Mortgagee to inquire iota the validity of any lion, encumbrances, ar claim in ad-
<br />vancing moneys as above authorized, but nothing herein contained shall be construed as requiring the Mortgagee to advance any
<br />moneys for any such purp~ nor to do any act hereunder; and that Mortgagee shalt not incur any personal liability because of any-
<br />thing kmay da or omit to do hereunder.
<br />In the event of the default by Mortgagor in the payment of any inatallmenf, as required by the Note secured hereby, or
<br />in the performance at the obligatron itt this mortgage or in the note secured thereby, the Mortgagee shalt be entitled 1.u declare the
<br />debt secumd hereby due and payable without. notice, and the Mortgagee shall be entrtled at its option, without notice, eittter by itself
<br />or by a receiver to be appointed by the court thereof, and without regard to £he adequacy of any security fur the indebtedness se-
<br />eueed hereby, to enter upon and take posxssion of the mortgaged premises, and Ln collect and receive rho rents. issues and profits
<br />tltet~, end apply the same, lase costa of operation and crolteetion, upon the indebtedness secured by obis mortgage: said rents,
<br />issues and pro5.te beiag hereby assigned to the Mortgagee as further security for the payment a[ all indebtedness secured hereby. , -
<br />The Mortgagee shafthave the power to appoint any agent or agents it may desire for the purpose of repot-ring said prem-
<br />ises; renting the same; rnlteeting the rents, revenues and income, and it may pay out of said snrnme all expenses incurred in rent-
<br />ing and managing the same and of collecting the rentals therefrom. The balance remaining, if any. shall hr~ applied toward the
<br />s3ischarge of the mortgage indebtedness. This assignment is to Terminate and become null and void upon release of this mortgage.
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