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THE MORTGAGOR FURTHER t70VENANTG AND AGREES: mf a•- ~ i ~-'# "
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<br />That the Mortgagor will pay the indebtedness as hereinbefore provided.
<br />-That the--MarYga~gi>r-is..the iiwiier-of said property in fee simple artd tic:; good right and lawful autharitY to sell oriel
<br />convey the same-and. tha£ihe.same-is free and clear of any lien or encumbrance; and that Mortgagor will warrant and defend the - ~-
<br />titie to said premises agaipst~{lie -claims of all persons whomsoever.
<br />To pay' immediately.-avhen due and payable all general [axes, special taxes, specie! av#>: sments, water charges, sewer serv-
<br />ice charges, and other tales and charges against said property, and all fazes levied on the debt secured hereby, and to furnish the
<br />Mortgagee,' upon rNxlueeL, with the original or duplicate receipts therefor. The Mortgagor agrees that there shall be added to
<br />ea<^h tttonttily payment-required '.:e:auncler o: under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to be sv(ficient to enable the Mortgagee to p?y, as they become due, aL taxes, assessments, and similar charges upon the ryrem-
<br />ises subject thereto; any de&ciency because oC the insufficiency of such additional payments shall be forthwith deposited by the
<br />Mortgagor wit'lt~:tlwr~Moitgagee upon demand by the ;Mortgagee. Any default under this paragraph shall he dee.~ned a de(auit in
<br />payment o(-tales, assessmenLc, nr similar charges required hereunder.
<br />- The Mortgagor agrees that there shat( also be added to each monthly payment of principal and interest required here-
<br />under an amount estimated by the Mortgagee to 6e sufficient to enable khr Mortgagee to pay, as it becomes due, the insurance
<br />.premium on any insurance pahcy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pay-
<br />ments shall 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 policy or policies deposited are such as home•
<br />owners or ail risk policits, and the deposits are insufficient to pay the entire premium, the Mortgagee may apply the deposit to
<br />pay premiums on risks required to 6e insured by this mortgage.
<br />Payments made by the Mortgagor under the above paragraphs may. at the option of the 'viartgagee, be held by it and
<br />commingled with other such funds or its awn funds for the payment of such items, and until so applie+i, such payments are hereby
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
<br />-TO procure, deliver tn, 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 />hatatds, #asualties, and contingencies as the Mortgagee may require, in an amount equal tci the indebtedness secured by this
<br />Mortgage, and in companies acceptable La the Mortgagee, with loss payable rlause in favor of and in form acceptable to the Mortga-
<br />gee. IIn the event any policy is not renewed on or before ten days of its expiration, the Mortgagee may procure insuranrn on the
<br />improvements, pay the premium therefor, and such sum shad herame immediately due and payable with interest at the rate set
<br />forth in said nose until paid and shalt fie secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />as are herein required or failure to pay any sums ad.~anced her+-under .hail. ai ±he u{>tivn .,f the \•..~rtgagr.,-, ; t,t;,titute „ cl.~fautt
<br />under the terms of this mortgage. The delivery of such policies shall, in the event of default. consbtute an assignment of the um
<br />earned premium.
<br />Any auras received by the :Mortgagee by reason of lass or damage insured against may he retainer3 by the Mortgagee
<br />and applied toward the pa}~nent of the debt-hereby sErured, or, at the option of the Mortgagee, such sums either wholly ar in
<br />part may be paid over to the Mortgagor to be used in repair such buildings or to build'new buildings in their place or for any
<br />other purpose or object satisfactory to the Mortgagee without sttecting the lien an the mortgage for the full amount secured here-
<br />by before sorb payment eve: took place.
<br />Ta promptly repair- restore or rebuild any twildings or improvements now ur hrrea[trr un the premises which may t>e-
<br />caane damaged or desfroyed; to keep said premises in good condition and repair and free from any mechanic's lien cr other lion or
<br />Haim of lien rmt eapresaiy subordinated to the lien hereof; not to suffer ar permit any unlawful use of or any nuisance to exist on
<br />said property nor w permit waste ern said premises, nor to do any other act w-hrreb}~ the property hereby conveyed shall become
<br />less valualtle, nor to diminish or impair its value by any act ar omission to act. to compl}~ with all rc-quirements of law with respect
<br />to the mortgaged premises sad the use !hereof.
<br />That sbot!!d the premises ar any Dart thereof be taken ur damaged b_v reason of any puh;_r ~ m ^t ar ear.;±emnatean
<br />pro..-ecdiag, or utrder the right of rmrrrer_t dc>s=~aia, :rr in any other manner. the \fartgr3ee shall be ~~ t~tti@tions,
<br />awards. and any other payment err relief therefor. sled shall be entitled. at its option. to commence, appear in aml prosecute in its
<br />own name any attian ur proceeding. cr to make any c~cHnprumtae a>z settlement in rannection with such taking or damage Ait such
<br />ramperaeatiacr, a+vards, damages, right at action and proceeds are hereby saigned to the Mortgagee, who tray, after deducting
<br />ltrerefrom all its eaoensrs, release any moseys so received by it ar apply the same an any indebtedness secured hereby. The Mort-
<br />ipl~r agsces t~ eaet~tte suet[ further aceirfittttfe'nts of any trornpensatnrn, awarxi. dama¢ea. and ri¢hts of action and prier«l: a~ the
<br />l~iortsasrr tray teynire
<br />That m rase at tailurr to perform an}~ ,d the cavena»is he rem. the Mutt{agre may du an the Mortgagor's behalf euerythirtg
<br />ao earetrartte+t; that ttffi Mortgagee may also da an} act it may deem necessary to protect ihr lira thereof: that the Mortgagor wil}
<br />repay upsa dearrard any moneys paid ar dLSbcirsed by the Mortgagee for any of the alxive purposes. and such moneys together with
<br />iatatesd kttereen at tfte rate ptoarded in said note shall become sa much addttroral indebtedness herby serurtxi and tray he in-
<br />daded is any decree foreclosing this mortgage and ]ie paid cwt of the rents or proceeds of sale at said perm+ses it not otherwise
<br />paid: that it shall rwt be obligatory upon the Mortgagee to inquire into the validity of any lien, encumbrances. r.r claim in ad-
<br />s®drts ttxraeys as above auttrorized, but rwthing heroin ccvitained sh311 be construed as requiring the Martgagrr to advance any
<br />msxteya for airy stitm pttrpcffie rzoz !a do any set hereurxler: and that Mortgagee shall nr.t incur any pars,>rsal liatriiity ix=rouse rf anv-
<br />Htit76 it may do et omit W do hesevndee.
<br />in the focal of the deftsrdt by Mortgagor in the payment of airy InaUt-Imtmt, as rrquirrYt h} zhr tiu#r +,Fa-u red trrrrby. or
<br />is t}re f~ of the o4}ig:boar in this roarfgege or is the naie secured thereby, the Mart>;agee shall fir rntrtlert w declare the
<br />debt centred trereLy due and payable withnitt rrouce, and the Mortgagee shall be emitted at :as option. without nutirr. either by itself
<br />sir by a rereivrr tit fie appiunte=t by the court thereat, and without regard to tier adequacy of anv srrurity far the trxirhtrtlnrs~ sr~
<br />l?I,i[!f} 3'< to enter t~ slut take pacaeaeion of the mortgaged prerrucea, and w collect and receive the rents. tarots and profits
<br />and apply the sitate, lea t:ttsts of opieration and wllectinn, upon the indebtedness secured by this mortgage; said rents.
<br />issues imd pro6b HEang hereby 8asijaed to tfre ft'Icrrtgagee as further .c-curity for the paymFn# of al? irdghts~dnrss ur~urni her:-hy
<br />- - - 'ffv~ si+a~ iiaire'thx pourer its appiunt say agent or age-rill it may desire for fhe pu rpr~r ref rr-pairinr :ai~# ;.tern
<br />isms: mntan; tLr name; otilletli~ the rents, rewentres am3 ir>crune, sad iE may pay ou€ of said income all expr-rises eacurred in ren4
<br />ittg sad saeota~itfE the tweae sect of ooilecking the rentals thereiram. The balance remaining. if any, shall he applied toward the
<br />+ of l3sa indphtgdaeea. This asai`nrnent is to terttvrtate and btx+ome nuA atfd void uptan release of this mortgage.
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