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THE MORTGAGOR FURTHER COVENANTS AND AGREES: ~ '" •-
<br />-~!&,~ ~.
<br />That the Mortgagor will pay the indebtedhess as hereinbefore provided, _ R
<br />That the Mortgagor is the owner of saint property in fee simple and has goad right and lawful authority to sell and
<br />rnnvey the same and that the same is:iree aqd clear,of any lien or_ encumbrance; and that Mortgagor will warrant and defeni} the
<br />title to said .premises against the claims of all persons .whomsoever-- .p
<br />To pay iramadiaieiy when due and payable sit-geneial fazes;-special taxes, special assessmr-n ts, water charges, sewer serv-
<br />ice charges, and-otMr taxes and charges against said property, and atl taxes levied an the debt sneered hereby, acrd to furnish the
<br />~+~!~_ Mortgagee, open request, with the .original or duplicate receipts therefor. The Mortgagor agrees oast #here sha32 tee added to
<br />8° each monthly payment required hereunder or under the evidence of dc•ht secured hereby an amou n! estimated by the Mortgagee
<br />~~ to br sufficient to enable the Mortgagee- to Pay. ss they become due, art taxes, assessments, and similar charges upon the prem-
<br />ises subject t}:ereto; anvdetScienc}' }wcausr of the insufficiency of such additiana! !>aymrnts stool? }ae font:w-ith dz'pasifrd F.y the
<br />Metrtgagor with the iortgagce upon demand hp the Mortgagee- Any de(au!t nr_drr thi-. pa ragralth shall he drrmed a rlrfauit in
<br />payment a( taxes, -assessments, rte similar charges required hereunder.
<br />` The Riortgagvr agrees that there shah also tae added to each monthly payment. of principal and interest r~ui mr} hete-
<br />unde_r an f-mrturt estimated by the Itiortgager to be sot€rienf to enable th:• A4airtga(;r~r to pa}-, as it hrrnmns due, the mauranm
<br />~-~ premium vn any insurance policy delivered tc the Mortgagee. Any detirir-rcy be-nauu- of tF:r in;,u-`rvcia•n<y .,f cuctr additional l;ay-
<br />1`"~ menFS sha(I F;e farttatti!.h deposited by the Mortgagor with the \Tortgager up<ar: demanrt h} ihr Mortga.~ee. Any default under this
<br />paragraph shall be deemed a default in the payment of insu ranee premiums. If the pn!ic ~~ :~r i,roticies deposited am such as }name
<br />owners or art risk pa!icic~s, anti the deposits are insufftcient fu pay the enhrr prrrnium. the ?ciortgagee may apply the d<'Ixasit fa
<br />l~~ay premiums nn risks required to be insured by fhi~ mortgage. -_-_ _
<br />Payments made by the Mortgagor under the above paragraphs may. at the ::piton of tits 't°lnrfgagee, P>F~ held by it and
<br />carnmingied with other such funds nr iG ow ;funds iron the payment of such item€, and unfit su applied, such parmenis ;arc hrreR;~
<br />pledged as security for the unpaid halanee of doe mortgage lndebiedress-
<br />T9 procure, deliver to, and maintain for the itr nx-fit of the 'Yinrtgagee during ihr life of t.hl= nxt rtF;age oriEinal irohnes and
<br />renewals fher~f, delivered a*. least ten days heforr the expiration of any sar_h prGcie:, also r,ng against fires and ether in_cu rahie
<br />hazards, z•asualties, and rnntingencies as the I4lortgagee ma.r require, in an amount equal to the- indebtedness secured by this
<br />Mortgage, and in companies acecp!<^, i;!e to the Ivtorigsgre, wit!: Lass payable clause in favor z:f and in torn, acceptatvr to the Mortga-
<br />ge•e. in the event an}- policy is not renewed un z>r befozr ten days of it expiraticr., t};c \iortgagee ma}- prcrcu r~~ tnsuranre on the
<br />improvements, pay the premium thereto r, and such sum shaE! hec~tmr immediately due and pavablr w-ith intrust at the rate set
<br />forth in said note unfit paid and shall txr secured 6y this mortgage Failure nn the part of the Mortgagor to Furnish sun-h renewals
<br />as aer herein required or failure to pay any sums ari~'a_rr,~d -tereunder ;hall, at the opt;r:n of the .Lirtrtgagc_, r•ansiituie a riefaulf
<br />uncles the ierme of this mrarigage. "I-hr delivery of .=-uch puiirirs still, in tF.e Fti~ent of <,r~tault. c::nshtute an assgnment rt( the un-
<br />earned premium. -
<br />Any sunk received by the 'vtrrrtgagee by reason of loss ..r dat:aag-r insured agains± -ra; M r tai ne•:i 6y thy- bi «rtgagee
<br />and applied tssvard the pa}-ment rf the debt hereby secured, cr. at the og5on o[ the =4art¢agee, suc'n sums either wholly err is
<br />part may be paid ~rer io the Mortgagor to he used to repair such hui!d!ngs' or tea hui!d'new huilrtings in their plane cr frtr any
<br />ot,^,c~r purPo>e or object =,atisfactnry to lhr '45 c,rtKa;_;re with:;ut afic~r~tinx ihr lien :m tha~~ mc: r:gagr for the furl armcu nt sera cell here
<br />by before such payment ever took place.
<br />To promptly repair, restore or rebuild xry huiida eta nr improvement-s now ur hereafter an the premises which may be-
<br />come damaged or destroyed; to keep said premises in goon conditaen and repair and free from any mechanic's lien or o#her lien nr
<br />claim cf lien ru3t expxessly subordinated to the !inn hereof: not to suffer or permit an}~ unlawful use of ar any nui_.ance to exist en
<br />said properly oar to permit waste on said premises, r,rtr '::_ dr. any other act whereby the property hereby conveyed shall }trevme_
<br />]ess valuable, oar Yo diminish or impair its value h} anc ert ,.r omi<srm to era- to comp3y w3ih all requirements ut }aw with respect
<br />to £he mortgaged gremises and the use thereat.
<br />That shonid the premises or say part Laerenf }*• ta::en ::r damaged by teastut cf any public impmvemerf or condemnation
<br />proceeding. ur under the right of eminent domain, r~r an any other manner the Mortgagee shall }re eniidcd to all compensations.
<br />awards, and any other payment or relief thrrefar, and she}l he entitled, at its option, to commence, appear in and prosecute in its
<br />- own nsune env action or proceeding, ur to make an. comprami=-v ar stiet)r~ment in cot:nection with such taking or damage- -AtI such
<br />compeers#ion, -awards, damages. right of action and {;rcceeds arcs hF.-rehy a.,signw3 to the l-1or[gagee, w-ho- may, after deilurting
<br />thercfmm alt its expenses. release any moneys sn r reined by it ur apply the same un any inr}ebledness secured hereby- The Mort-
<br />gagor agrees to execute su;'i: further assignments of any ce, ;r•n: 3teun. awards. damage-, ar-d rights of action and proceeds as rtes
<br />Mortgagee may require.
<br />That in case of failure to perform any aC tha~ cuE-ensnts i:ereie. the Mortgagee may da on the Mortgagor's Lehati everything
<br />so rnvenanteri; that the Mortgagee may also do any act it may deem rK=cessary to protect the lien thereof; £hat the Mortgagor will
<br />repay upon demand any moneys paid or disbursed by the Mortgagee fen any of the above purposes. and such moneys fogettiei with
<br />antarest thereon at the rate provided in said note shalE heroine sa much additional-indebtedness hereby secured and- may he in-
<br />cluded in any decree foreclosing this mortgage and he paid out of the rent or proceeds of sale of said premises if noY athe~vise
<br />paid; that it shall oat tae obligatory ulxan the 1ortgagee tv inquire inm the validity of any lien. encumbrances, or claim in ad-
<br />vancing moneys as above authorized, but nathirg herein contained shalt be construed as-requiring the Mortgagee to advance any
<br />moneys foi any sucix purpose nor to do any act hereur•,der; and that Martgagec shall not-incur any 1>ersunai liability fxcau->r of any-
<br />thing it may do or omit to da hereunder. -
<br />In the event of the default by Mortgagor in the payment of any instai}ment, as required by the Note secured hereby, or
<br />rn the performance of the obligation-in ±his mortgage or in the note secured thereby, the Mortgagee shalt be entitled to declare the
<br />debt secured lreteby due and payable without notice, and the '-viortgagee shall be entitled at its option, without notice, either by itself
<br />or 1?Y a rer~iver to be appoinf.ed by,the court thereof, and without regard to the adequacy of any security fur the indebtedness se-
<br />cured hereby. to enter itpari andtske pas-kessinn of the mortgaged premises, and W rntfect and -receive the rents. issues and ptrofits
<br />thereof, sea apply tlfe same; less casts of operation and !zallecfian, upon the indebtedtess cured }sy this mortgage; said rents.
<br />issues and ptrinta being-hereby-asaigned'to the Mortgagee as further security for the payment nt all indebtedness secured hereby.
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<br />s.
<br />The Mortgagee shall have fire power io appoint any agent or agents it may desire for the purpose of repairing said prem-
<br />ises; renting the same; cirtlect}ng. the rents, revenues and income, and it may pay out of said income all expenses incurred in rent-
<br />- - - ing acrd managing the same and of errilecfing the rentals tlterefrom. The balance remaining, if any. steal} be applied toward the
<br />discharge of --the mpttgage indebtedness. This assignment is to terminate and became null and void upon rele+ise of this mortgage.
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