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THE MORTGAGOR FURTHER tXDVENAN'['S AND AGREES: -
<br />That the Mortgagor will pay the indebtedness as heseinbefore prorvided.' ^ - .<- • ,
<br />That -ttte ~viior-igagor is the owner of ~:d property=;r_ fee -simple' and--has good right .and. lawful entfioritY to salt and
<br />- rnnvey the same-anxi that'the-.same is-free andetear of-any Lien or eitcitinhraitte:-and- that Mortgagor wiiF warrant and date»d the
<br />title to said premises-against ,the elairns of all persons whomsoever. -
<br />To pay-itmnediately:-.when -due and'paYatde all-general taxess,_epeeist fazes, special assessments, water charges, sewer serv-_
<br />ice charges„ and. other tsxes`and charges agai;tst said property: and all taxes levied on the debt secured hereby, and to furnish trip
<br />Mortgagee,-. upon. rc~uest,. wkth -tlie original or ditptitste receipts therefor. -The \Martgagor agrees that there shall be added !o
<br />~ each monthly Payment required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to be sufficient to enable the Mortgagee to pay, as they. become due, alt taxes. assessments. and similar charges upon the prem-
<br />s~t ices subject thereto; any deficiency because of the insufficiency. of such additional .payments shall be forthwith deposited by the ,
<br />~ Mortgagor with _fhe Itiottgagee upon demand by the Mortgagee. Any default under this paragraph shaft be deemed a default-in
<br />payrirexif of taxes, assessineats, nr similar charges required hereunder.
<br />.~''r ~ The Mortgagor agrees that there shall also be added tu. each monthly payment of principal and interest--required here-
<br />~~ under sn amount estimated by the Mostgagee to he sui~icient to enable the Mortgagee to pay, as it lxrrmss due. the - insurance -
<br />premium on any insurance policy delivered to the Mortgagee. Any deficiency because of the irisufticiency of such additional pay
<br />G37P meats shall be forthwith deposited by the hfortgagor 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 policy or policies deprzcited are sorb as home-
<br />dwners or all risk policies. and the deposits are insut6cient to-pay the entire premium, the Mortgagee may apply the deposit to
<br />pay premiums on risks required 4o be insured by this mortgage.
<br />Payments made by the Mortgagor under the above paragraphs may. at the option of the Mortgagee, Fro held by i[ and
<br />commingled 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 prxure, deliver to, 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 rnntingencies as the Mortgagee may require, in an amount equal to the -ildebtedne~ secured by thie
<br />Mortgage, and in rnmpanies acceptable to the Mortgagee, with los_ payable clause in favor of and in form acceptable to the Mortga-
<br />gee. In the event any policy is not renewed on or before ten days of its expiration, the Mortgagee may procure insurance on the
<br />improvements, pay the premium therefor, and such sum shall become immediately due and payable with interest at the rate set
<br />forth in said note anti! paid and shat' be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />as are F.ereia required or failure to pay any sums advanced hereunder shalt, at the ontion of the Mortgagee, constitute a default
<br />under the terms of ?his mortgage. The delivery of such policies shaif, in the event of default. constitute an asaignrrtent - "he un-
<br />earned premium.
<br />Any sum received by the Mortgagee by reason of toss or damage insured against may be retained by the hlartgagee
<br />and applied toward the payment of the debt hereby secured, or, at the cption of the Mortgagee, such sums either wholly ar in
<br />part may be paid over to the Mortgagor to 6e used to repair such buildings or to build'new buildings in their place or for any
<br />other purpose or oF>}eci satisfactory to the Mortgagee without affecting the lien nn the mortgage for the Evil amaurct secured here-
<br />by before sucF, psymteni ever took place.
<br />To promptly repair. restore or rebuild any buildings ar improvements now or hereafter on the premises which may be-
<br />came damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic's lien or other lien or
<br />Haim of lien not expressly suFxrrdinated is the ben hereof: not fa softer or permit any unlawful use o[ ar any nuisance to exist ort
<br />said property nor fo permit was?e raa said Premises. nor to do any other act whereby the property hereby conveyed shall become
<br />Sass valuable, nor io dimini9h or impair its value by any act or omission to art: to comply with alt requirements of law with respect
<br />to the mortgaged premises and the use theremf.
<br />Thal should the premises ar any pac .ereof #x• taken or damaged h}• reason of any public improvement or randemnation
<br />proceeding, oc under the right of eminent domain. nr in any other manna c, the r.Nortgagee shall tx entitled to all compensations,
<br />awe.-ds, and any other payment ur relief thrrefns. and shalt be entitled, at its option, to rnmmence, appear in and proseevte in its
<br />own name any action nr proceeding, or to makt• any compromise or settlement in connec?ion with such taking or damage. All such
<br />eomfx^naakion, awards, dame€es. right of ac±ion and proceeds ate hereby assigned to the Mortgagee. who may, after deducting
<br />therefrom all its expenses, release any moneys ur received by it ar apply the same on any indebtednev secured hereby. The Mort-
<br />gagor agrees #u execute such further aticignments of any compensahnn. awards, damages. and rights of action and procc arts a. the
<br />Mortgagee may require
<br />Thak in case of failure W perh.rm any of the ~rvenar'~ herein. the ortgagee may do on rite Mortgagor's behalf everything
<br />so covenanted; that the Mortgagee me}• atsn do any act ti may deem necessary h-. --iteM the lien thereof; that the Mortgagor will Yom--;
<br />repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes, and such moneys together with '"„Y;
<br />interest thereon at the rate provided in said note shaif became sa muc•h additional indebtedness hereby secured and may ire in- »~
<br />tiuded ir. any decree foreclosing this mortgage and tx+ paid out of the rents or proceeds of sale cf said premises if not athetwise /~-s
<br />paid; that -it shall not be obligatcry ufwn the 111artgag~ to inquire into the validity of any lien. encumbrances. nr claim an ad- .r
<br />vancing moneys as above authorized, but nothing herein contained shall be constneed as requiring the Mortgagee fu advanrn any ,.-:.°
<br />moneys for any such purpose nor to do any act hereunder, and that Mortgagee shalt not incur any personal !lability because of any- -"~
<br />thing St-rnaY do or omit to do hereunder. t
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<br />fn the evens of Lhe default by Mortgagor in the payment of any insta!Iment, as n•quircd br th. Xetr sc.~n-d hereby. a
<br />in Lt~^ pazfcsrmar-ee of the ligation in this mortgage or in the no#e secured thereby, the Mortgagee shall be. ertitirri to declare the
<br />debt secured hereby due and payable wifheut naLir~, and the Mortgagee shalt be entitled at its option, without notice, either by ftae?f
<br />or by a receiver #o Fx appointed by the court thereof, and without regard #o the adequacy of any security for the indebtedness se-
<br />cured hereby, to enter upon salt take possession of the mortgaged premises„ and. to collect and receive the rents, issues and profits
<br />thereof, salt apply the same, less costa of. operation and collection, upon the indebtedness secured by this mortgage; said rents,
<br />- -issues a~ pm5ta tieing lterebY assigned to the Mortgagee as further' security for the payment of all. I*dehtedisess_ secured hereby- _
<br />- - - . ~ The Mortgagee shaif have the power to appoint any. agent or agents it may desire for the purpose <,f repairing said pr«-m-
<br />ises; renting the same; atllecting the rents, revenues and income, and it tray RaY out of said income all expenses incurred in rent-
<br />ing. and martaging the same slat of collecting the rentals therefrom. The balance remaining, if any. shall he applied toward the
<br />discharge of !tom -mortgage indebtedness This assignment is to terminate and_hecome null and void upon release of this mortgage.
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