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<br />T.HE MORTGAGOR FURTFtER COVENANTS AND AGREES:
<br />That the Mortgagor will pay the indebtedness as hereinbefore provid i--, .
<br />P" J-+ a
<br />tot,s$,'e
<br />That ttte Mortgagor is the owner of said property in fee simple arni has good right and lawful authority tv sell and
<br />cronvey the satire and That the same-ia free and clear at any lien or encumbrance; and that Mortgagor wilt warrant artd defend the
<br />title io sasd ptemisas agar^~* tt,,e claims of al! ;.e.:-,ens whexn~;eve r.
<br />Ta pay- immediately when due and payable alt general taxes, special taxes, special assessments, water charges, sewer serv-
<br />ice ehaxges,-amI other taxes arid'charges against said property, and alt taxes levied on the deht secared hereby, and fo furnisH the
<br />Aortgagee, upon request, with the original or duplicate receipts therefor: The Mortgagor agrees chat there shall tx added to
<br />beach monthly payment required hereunder or under the_evidenee uF debt secured hereby an-amount estimated by the Mortgagee
<br />':'d to be suti'icient to enable the Mortgagee 4o pay, as they -become due, alt taxes, assessments, and similar charges upon the prem-
<br />gr~ises subjeck, thereto;, ally deficiency because of the insuft'tciency of such additional payments shall be forthwith deposited t?y the
<br />~..4 Mortgagor wiHt- the -Mortgagee upon demand by the hia.-tgage e. Any default under this paragraph shall be deemed a detaititin ,
<br />payment of taxes, assessments, nr similar charges required Hereunder. - - -- --
<br />"°' The Mortgagor agrees that there shad also be added to each monthly payment of principal and interest required here-
<br />" under an -amount estimated by the Mortgagee to be sufficient to enable the Mortgagee to pay, as it becomes clue, the insurance
<br />~ premium on any insurance policy delivered to the Mortgagee. Any deficiency because of the insud'iciency of such additional pay-
<br />I~ menu shalt 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 polic~• or policies deposited are such-as }eume-
<br />owners ar ail risk policies, and the deposits are insutTicienf 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, at the option of the Mortgagee, He heir] by if and
<br />rnmmingled 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 *.he mortgage indebtedness.
<br />To procure, deliver to, and maintain for the benefit of the .lfartgagae during the life of this mortgage original Policies and
<br />renewals thereof, delivered at feast ten days before the expiration of any such policies, insuring against fire and ether insurable
<br />hazards, r~sualtiea, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br />Mortgage, and in companies aceeptable to the Mortgagee, with toss payable clause in favor of and in form acceptaHle to the lfortga-
<br />gee. In the event any paiicy is not renewed un or before ten days of its expiration. the Mortgagee may procure insurance ar. the
<br />improvements, pay the premium therefor. and such sum shat! become irmediately du= and payable with interest at the rate set
<br />forth in said note until paid and shall be secured by this mortgage. Failure on the part of the Martgagor to furnish such renewals
<br />as are herein required or failure to pay a~.ty sums advanced hereunder shat(, at the option o€ the Mortgagee, constitute a default
<br />under the terms of this mortgage. The rieliverv o[ such policies shalt, in the event of .lefault, con tih.te an assignment of the un-
<br />earned premium.
<br />Any sums received by the Mortgagee by reason of lo-as or damage insured sgaipst may be retained by the Mortgagee
<br />snd applied toward the payment of the debt hereby secured, or, at the option of the I+iortgagee, sucH sums either wholly or in
<br />par`. may be paid over to the tortgagar iv be used [o repair svc~+ Huildings or to build'new buildings in their place o,- far any
<br />other purpose or object satisfactory to the Mortgagee wiffiout affecting the lien nn khe mortgage tot fha foil amount secured here-
<br />by before such payment ever took plate.
<br />To promptly repair, restore or rebuild any buildings ur improvements now ur hereafter on the premises which may be-
<br />come damaged or destroyed: to keep said premises in good condition and repair and free from any mechanic's Tien ar other Tien or
<br />claim of lien not expressly subordinated to the Tien hereof: not to suffer or permit any unlawful use of or 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 rnnveyed shalt become
<br />lass valuable- nor fo diminish or impair its value by any act or omission to aM_ to rnmply with all requirements of taw with respect
<br />to the mortgaged Premises and the use thereof.
<br />That should the premises yr any part thereof be taken or damaged by reason of any public impmvemen! or condemnation
<br />proceeding, or under the right of eminent domain, ur in any other manner, the \•(ortgagee shall be entitled to all compensations.
<br />awards, and any other payment or relief therefor, and shalt be entitled, at its option, to commence, appear in and prosecute in its
<br />awn name any action or proceeding. ur tv make any compromise ur settlement in connection with such taking or damage. Ail such
<br />compensation, awards, damages, right of action a..a ,.-.,weeds are hereby assigned to {he Mortgagee, who msy, after deducting
<br />therefrom all its expenses, :elease any moneys so remixed by it ar apply the same on any indebtedness secured hereby. THe Mart-
<br />gagor agree, to execute such further assignments n! any compensatfan, awards, damages, and rights of action and Proceeds as the
<br />Mortgagee may require.
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<br />That in case of lettuce to perform any of the covenants Herein. the hfvrtgagee may do vn the J9arfgagor's behalf ever~thing-
<br />so covenanted; that the Mortgagee may also do any set it may deem necessary to Protect the lien theracrf: the: the l~4ortgagar wdl~.,...
<br />repay upon demand any moneys paid r,r disbursed Hy the Martgagec for any of the shove purlx>sas. and such moneys together with m
<br />interest thereon at the rate provided in said note shall become sa mucH additional indebtedness hereby secured and may he in;f
<br />eluded in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if not otherwise
<br />paid; that it shall-not be obligatory upon the Mortgage-e to inquire into the validity of any lien, encumbrances, or claim in ad-~-
<br />vaneing moneys as above authorized, but nothing herein. contained shall be construed as requiring the Mortgagee to advance soy
<br />moneys for any such purpose nor to do any act hereunder; and that MurtgaR+'e shall nut incur any pe none] liability because of aqy-
<br />tbing kmay do or vmk to do hereunder. -
<br />In the event of the default by Mortgagor in the payment aF any installment, as required by the Note secured- hereby, nr
<br />in the performance of the obligation in this mortgage ar in the note secured thereby, the Mortgagee shall be entitled to declare the
<br />debt secumd hereby due and payable witHou# notice, and the Mortgagee shall be entitled at its option, without notice- either by itself
<br />or by a receiver to be appointed by the court thereof, and without regard to the adequacy of any security for the indebtedness se-
<br />eured hereby, to enter upon and take possession of the mortgaged premises, and to rnfIect and receive the rents, issues and profits
<br />thereof, scut. apply the same, .leas costa, of. vperaiion and crotlection. upon the indebtedness secured Hy this martgage; said rents,
<br />iasues.arrd profits being hereby assigned to the Mortgagee as fitrkher security for the payment of a[l indebtedness secured Hereby.
<br />The-Mortgagbe shall have the power to appoint any agent or agents ik msy desire for the purpose of repairing saidprem-
<br />isea; renting the same: rnllecting-the rents. revenues and income, and it may pay out of said income all expenses incurred in rent-
<br />ing and managing the same snd o[ collecting the rentals therefrom. The balance remaining, if any. shat] be applied toward the
<br />discharge of the martgage indebtedness This alignment is to terminate and become null and void upon release of this mortgage.
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