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THE .MORTGAGOR FURTHER COVENANTS AND AGREES: ~
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<br />That the Mortgagor wilt pay the indebtedness as herainbefare provided.
<br />That the Mortgagor-is:the dwner oC said property in fee simple and-has goal tight and lawful autharity to sell and
<br />convey the same apd That the sating~is_free and Blear of any lien or enctimbtance: and that Mortgagor wit! w°arrank and defend the
<br />title to said premises against the claims of nit persons whcansaever.:-
<br />To pay itntnediately when due and payable all general-fazes, special taxes. special assessments, water charges. sewer serv-
<br />ice charges, aruf other taxes-nod charges against said uroperty, and all taxes levied on the debt serured hereby, and to furnish the
<br />Mortgagee, upzrn rzgttesk,,w~t6 =he-original-rr dupl~ate rrcaipts the€efar. The Mnrtganr:r agrees that there shall he added to
<br />r~ each monthly paymenk required hereunder or under the evidence of debt secured hereby an amount . stimated by the Morfgagee
<br />to be sufl3cient.ta. enable_the N,icrfga~ee_ to pay, as they become due, a31 taxes. assessments, and similar charges upon the prem•
<br />ices :subject theieto; any deficiency because of the insufficiency of such additional payments =hat! be Cnrthwith depaaited by the
<br />~ Mur~tgagor with the Mortgagee upon demand fie the Mortgagee. Any default under this pa ragruph shall F;r de-erred a default in
<br />payment of taxes,-assessments, orsimiiar charges required hereunder.
<br />'fhe ;<4ortgagor agrees thai there shall also he added to each monthly paymc+rt of principal noel interest required here-
<br />' under an amount estimated by the Aortgagee Lo be suffici ~nt to enable the a{ortgagee to pay, as it her:nmr•s due, the insurance
<br />premium on any insurance palicy delivered Yo the Mortgagee. Any deficiency because of the +nsutficiency rf such additional pay-
<br />~ ntenL shall kx• farthwtith deposited by the ILiortgagor with the Aforfgagec upon demand try the- 14fortgagee. Any default under this
<br />~ paragraph shalt be deemed a default in the payment oC ir.su rarce premiums. if the lxrficy yr fx+licies depasitc=d are such a'; trt;me=-
<br />owners or ail risk tmiicies, and the deposits are irsufficiert ±v pa}° the entire pramium~ the ?durtgagoe mac apply the drpr>,ii to
<br />ray premiums on risky required tv tee insured by this mortgage.
<br />Pavmenis made~~ by fhr Mortgagor under the abrn•e paragraphs may. at the optirn of the Morfgagee,. be held tty it and
<br />commingtrrd wrth efhr•r such funds err its own funds far the payment of sorb 4tr-ms, and .until ~ applied. such payanents arc= hereby
<br />pl~lged as security for the unpaid balance of the mortgage indebtedness.
<br />-i'u pnrcure, dalivrr to, anri maintain far the bane@t of the Dfartn r_:r,-F riu ring the hfe of this mortgage nr ginal palicies and
<br />renewals thereof, dative red at least ten days before the expiration of any such poticies, insurinK against fire anri other :nsurahle
<br />haaards, casualties, and contingencies as the 'Mortgagee may require, in an amount equal to the indebtedness serured by this
<br />tblorigage, and in campanies acceptable to the :Mortgagee, wikh tati~ pavaMe clause in favor of and in form acceptable Yo the Ddvrtga-
<br />gee- In the event any Fxrlicy is not renewed on or hrfore ten days of its expiration. the bfartgagee may prarure insurance un the
<br />improvement_v, pay the prernium fherefor, and such sum shat! hec:rme immediately due and payable with interest ai the rate set
<br />Earth in saki note until {,aid and shall tx• secu re<i by this mortgage- Faiht re nn Yh2 part of flee :'vfortgagur tv furnish such renewals
<br />as are herein required ur failure !a pay soy sums advanced hereunder shall. at the option of the Mortgagee constitute a default
<br />under the terms of this mortgage. The rietivery of sucin policies shall, m the evrer,2 ai default. rrnstitute an assiKnmert of the un-
<br />earn-~ F mimic.....
<br />Any sums received try the ;vi~rtgagee by tensor, of toy°. :~r damage insured against may he ^etained by the Mortgagee
<br />and applied [award the payment of the debt hereby secured, err, at fhr option rif the 3larigagee- such gums either whally or in
<br />part may be paid over to the Mortgagor to be used tv repair such buildings or to band'new- buildings in (heir plae.- far any
<br />other purpose or object satisfactory to the 'Mortgagee without affecting the Lien on Ehe mortgage for the full amc-unt secured here-
<br />by F>efore such payment ever took place.
<br />To promptly repair, resiv re ur retuiid any boil di;,gc yr imt',roveme::ls ..^.aw ur herea Etar on the premises which may be-
<br />come damaged or destroyed: to keep said premises in good candikion and ,,-epair and free from any mechanic's lien or ether lien or
<br />claim a# lien not expressly subordinated to the tier, hereof: not fa suffer or permit any unlawiut use of or anr nuisance to excst on
<br />said property nor to permit waste vn said premises, oar to do any ctt,er act whereby the property hereby conveyed shall become
<br />less valuable, nor !o diminish or impair its value by any act ur vmissiar. fu act; to cnmplr 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 improvemenf or crondemnatian
<br />pr zeding, or under the right of eminent domain, or in any other manner, the 'vlvrtgagee shall 6c- entitled to all campensations,
<br />awards, and any other payment or relief tfierefor, and shale be entitled, at its-apt*.on, to commence, appear in and prosecute in its
<br />own name any action err proceeding, err to make any compromise or sektlement in cannectian wifh such taking or damage. All such
<br />compensatian, awards, damages, right cf action and proceeds are hereby assigned *,a the hiorigagee, who may, after deducting
<br />therefrom all its expenses, release any moneys sa received by it or apply the same un any indebtedness secured hereby. The Morf-
<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. ~-`~
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<br />Thai in case of Cailure to perform any of the covenants herein. the Mortgagee may do on the Mortgagor's behalf everything -~".''
<br />so covenanted: that the Mortgagee may also du any act it may deem necessary to protect the lien thereof; that fhe Mortgagor will ''.
<br />repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes, and such moneys together with
<br />interest thereon at the rate provided in said note shat! become so much additional indebtedness hereby secured and may ere in- _~
<br />c~-tuded in any decree foreclosing this murfgage and 'ere paid uuY o€ the rents or proceeds of sale of said premises-if not ot}ierwise-
<br />paid; that it shall not Ue obligatory upon the Martgagee to inquire inter the validity of any lien, encumbrances, or claim in ad-
<br />vancing moneys as above autnari:.ed, but nethtng herein contained shall be construed as requiring the Mortgagee to advance any
<br />trtorteys for any-such purpose nor to do any art hereunder; and that Mortgagee shall not incur any personal liability because of any-
<br />thing it may do or omit to do hereunder.
<br />In the event of the default by Rfartgagor in the payment of any installment, as required by the mote secured hereby. or
<br />in the performance of the ohligatian in this martgage or in the note secured thereby. the Mortgagee shall be entitled is declare the
<br />debt secured hereby due and payable without notice, and the Mortgagee shall be entitled at its aption, wi#hout notice, either by itself
<br />or liy a receivef to fie-appointed hy.tbe mutt. thereof, and without regard to the adequacy of any security for the indebtedness se-
<br />cnted hernby;to enEer upoit-,and Eake nos§ess'ion of the mortgaged premises, end-ter mIlect and receive the rents, issues and profits
<br />thereof, aced apply the same; less cats of operation and collection, upon the indebtedness secured by this mortgage; said rents,
<br />ie.9ttes' and profits being-hereby assigned-to the Morfgagee asfurther security for fhe payment of all indebtedness secureetl hereby.
<br />The Mortgagee shat( have the power to appoint any agent or agents it may desire for the purpose of repairing said prem-
<br />ices; renting the same: collecting the rants, revenues and income, and it may pay out of said income afl expenses incurred in rent-
<br />ing and managing the same and of coIiecfing the rentals therefrom. The balance remaining, if any, shall he applied toward the
<br />disrbarge of the martgage irdebtedness. This assignment is to terminate and become nu!! arul vaid upon release of this martgage.
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