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<br />THE MORTGAGOR FURTHER COVENANTS AND AGREES:
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<br />That the Mortgagor will pay fhe indebtedness as hereinbefore pt
<br />Thst the Mortgagor i5 the -droner of said property, in fee. simple and has-good right and lawful authority to sett and
<br />convey the same-and that the mme is free and dear of arty' lien or encumbrance; and that Mortgagor will warrant and defend t_he -
<br />title to said premises against.-the tiaims of alt persons whomsoever. - -
<br />Ta payimmediately whendtae andp<zyaWe alt geiiernt-#axes,-special taxes, special assessments, water charges, sewer.sety-.
<br />lee charges, and other iaxes-and ehasges against said-pmp2rty; are' aft--lazes-levied on the debt secured hereby, and to furnish too
<br />Mortgsgee,`upon--request, with the original or duplicate tecelpts therefor:-The l~fortgagor.agreea that Ehere shall he added to
<br />each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />io be sufficient to enable the Mortgagee to pay, as they bernme Sue,-all taxes- assessments. and similar charges upon the prem-
<br />ises subject thereto; =any deficiency. because of fhe insuffisiency.of. such. additional-payments shall he forthNith deposited by the ___ -
<br />Mortgagor r@ith-:tlie. IVtgrt@~agea tiptin demand 6y the Mortgagee. Any default under this paragraph shall be deemed adefault-in -
<br />pxymerit of-lazes, assessments, nr similar charges required-hereunder. - - -
<br />- The Mortgagor agrees that there shall also be added ta.each monthly payment of principal and 9ntetesf required here-
<br />,, under an amount-estimated by the Mortgagee to 6e sufficient to enable the Mortgagee to pay, as it becomes due, the insurance
<br />premium rm any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pay-
<br />ments shall he forthwith deposited by the Mortgagor with the Mortgagee upon demand by the :vtortgagee. Any default under this
<br />paragraph shall be deemed a default in the payment of insurance premiums If the police ur policies deposited are such as home-
<br />owners of all risk policies, and the deposits are insufficient to pay the entire premium, the Mortgagee map apply the deposit to
<br />pay premiums on risks required to be insured by this mortgage.
<br />Payments made by the Rlortgagor under the alr~ve paragraphs may, at the vp±ior, vt the ".4artgagee, be hetd~by ii and
<br />commingled with other such fends or its own funds for the payment of such items, and until so applied, such payments are hereby
<br />pledged as security fur the unpaid balance of Lhe mortgage indebtedness.
<br />To procure, deliver [n. and maintain for the benefit of the Mortgagee during the life 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 />hazards, casualties, and irontingencies 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 lass payabfe clause in favor of and in form acceptable to [he Mortga-
<br />gee. In the event any policy is net renewed nn of before ten days at its expiration, the Mortgagee may procure insurance at [he
<br />improvements, pay the premium therefor, and such sum shall became immediately due and payable with interest at the rate set
<br />forth in said note until paid and shat: he secured by this mortgage. Foibles on the part of the Mortgagor to tuznish such renewals
<br />as are herein required or failure to pay any sums advanced hereunder shall, at the cgfion o[ the "dortgagee, eunsfitufe a riefault
<br />under the terms of this mortgage. The delivery of such policies shall, en the event of default, constitute ar. assignmena .,, 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, er, at the option of the Mortgagee, such sums either wholly or in
<br />part may be Paid over to [he Mortgagor to be used m repair such buildings ar to build-new buildings in their place or for any
<br />other purpose or object satisfactory to the Mortgagee without affecting the lien nn the mortgage for the full amount secured here-
<br />by before such payment ever took place.
<br />To promptly repair, restore or rebuild any buildings or improvements now or hereafter on the premises which may tm-
<br />came damaged or destroyed: to keep said premises in goad condition and repair and free from any mechanic c }ten or other lien or
<br />claim at hen not expressly su}wrdinatad to fhe Lien hereof , not to suffer ur permit any unlawful use of ur any nuisance to exist on
<br />said property nor to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shaII fiecome
<br />less vaitrable, oar to diminish or impair its valve by any act or omi:>siun to act: fo comply with all requirements of taw with respect
<br />to the mortgaged premises and the use thereof.
<br />That should the premises or any part thereof be taken or damaged by reason of any public improvement or condemnation
<br />prxeeding, or under the right of eminent domain, or in any other manner. the .`+tnrtgagee shall he entitled U> all mmpensatians,
<br />award;;, acrd any other payment yr relief the refer, and shalt be en killed, at rts .yuvn. w conuneuce. appear in and pr<necu to in its
<br />own name any action or proceeding, ar to make any compromise ar settlement in connection with such taking or damage- All such
<br />compensation, awards, damages. right of action and proceeds are hereby assigned to the Mortgagee, who may, after deducting
<br />therefrom ati its expenses, release any moneys so received by it or apply the same on any indebtedness secured hereby. The Mort-
<br />gagor agrees to execute such further assignments of any compensation, awards, damages, and rights of action and proceeds as the
<br />Mortgagee may require.
<br />- That in case o€ failure to perform any of the covenants herein. the 14fortgagee may do on the Martgagor's behalf everything
<br />so covenanted; that the Mortgagee may also do any act it may diem ne<rs.ery tv p,ot •et the tic-n thereof: that the 4fortgagor w~i}I
<br />repay upon demand any moneys paid or disbursed by the b4ortgagee for any of the ahvve purposes, and such moneys togetfier withe
<br />interest thereon a! the rate provided in said note shall become sv much additional indebted Hass hereby secured and may he in-~,E
<br />- eluded in any decree foreclosing this mortgage and be paid out of tF.e rents or proceeds of sale of said premises if not otherwise'
<br />paid; that it shall not be obligatory upon the hfortgagee to inquire into the validity of any lien, encumbrances, or claim in ad-~:
<br />vaneing moneys as above authorized. but nothing herein contained shat! be construed as requiring the Iv4ortgagee iv advance any,.--.
<br />moneys for any such purpose nor to do any act hereunder, and that Mortgagee shall oat incur any personal liability because of any-~."`
<br />thing it may do or omit to do hereunder. '`?~
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<br />In tlae event of the defavlE by Martgagarsn the payment of any installment, as required by the NaEe secured. hereby, pr-'~
<br />in the performance of the ahligaUon in-this mortgage or in the note secured thereby, the Mortgagee sha8 be entitled-to•deeiare theme
<br />- debt secured hereby due and payable without notice, ar-d the Mortgagee sh~Il be soli tiled at iks option, without nntim, either by itse!(
<br />ar by a receiver to be appointed by the court thereof. and without regard to [he adequacy of any secunty for the indebtedness se
<br />cured hereby.. Lo enter upon. and take possession nl' t}•g mortgaged. premises, and to collect and receive the rents, issues and profits
<br />thereof. and analy t}ae same, .less coats-oF ixperatian and colIeetion, upon the indebtedness secured by this. mortgage; said rents.
<br />issues and pra5ts being her¢Iry assigned to the 1blortgagee as [tirther security for the paymenk o[ all indebtedness soured hereby.
<br />- -- -" 1`he~ Mortgagee shalthaue-the power ta-appoint any agent or agents if rnay•desire for the purpose of repairing said prem-
<br />ices; renting the same; collecting the rents, revenues and income, and it t»ay. pay out of said income al! expenses incurred in rent-
<br />ing and managing -the same and of collecting -the rentals therefrom. The balance remaining. if any, shalt be applied toward the
<br />dixhetge of the_martgaga.incfelttedness. This aasigntnent _is to. terminate and become null and void upon release of this mortgage.
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