|
THE MORTGAGOR FURTHER COVENANTS AND AGREES: ~~,~~~ -y rS"~
<br />t .- s. -..
<br />That. the Mortgagor will pay khe indebtedness as hereinbefore prtvided.
<br />That the-Mortgagor~.is-fhe r7wner of said pro~ierty in fee simple and has good right and lawful authority to sell and
<br />mmey the same and that the same is tree anti clear of any lien or encumbrance; and that Mortgagor will warrant and defend the
<br />title to said-premises against.?he claims of a!i peraons.whtitiisoeJer. -
<br />To pay immediately-when rfue and-payable all general-saxes, special fazes, special assessments, water charges, sewer serv-
<br />ice charges, and other-taxes and charges against said property, and all taxes levied on the dtbE secured hereby, and to furnish the
<br />Mortgagee, upon request, withthe original or duplicate receipts therefor The Mortgagor agrees that there shall beadder-- to
<br />each monthly payment required hereunder err uncle; Ehe evidence of dabs secured he-cab} an amount estimat Kl by the Aorgagee
<br />*.o be sufficient to enable't}~ Mortgagee to pay, as they become due, all taxes, assessments, and similar charges upon the prem~
<br />saes subject thereto( any deficiency because of the -insufficiency aF such additional payments ;hall be forthwith deposited by rho
<br />Mortgagor with the Mortgagee upon demand by the Dlrertgage e. Any default under this paragraph shall he deemed a default in
<br />payment of Utxes, assessments, nr similar charges required hereunder.
<br />Tho Mortgagor agrees that there shalt also be added to each monthly payment of principal and interest required here-
<br />under an amrwnt estimated by the Mortgagee to be sufficient to enable the Mortgagee t„ pay, a.s it bemmo5 due, the insurance
<br />piEemium nn any ~nsu ranee policy delivered to the 3fortgagee..4n} dr&ciency Mrcau+v ..f th,~ cost, fficiencv o[ such additional pay
<br />menu shall be forthwith deposited by the Mortgagor with fhe Mortgagee upon demand by the lfotigage-e. Any default under this
<br />paragraph shah be deemed a default 'n the payment of insurance premiums If the pnlir>~ err pastries dtpnsited are such as Itvma-
<br />owrets or al! risk policies, and the deposits are insufficient fo yay the entire pn~mium. ihr• ~turtgager may apply the deposit !o
<br />pay premiums an asks required to be insured by this morfgagr.
<br />Paymrntc made by the Aturtgagor under the above paragraphs may, at ttx^ option of the Mortgagor, be held by it and
<br />eomminglyd with other such funds or its uw'n funds f.,r the iraymrnt :.t =uch it,~m<. an+', until s-:, applied, ,uch payments acv h.~rehy
<br />pledged as security for the unpaid balance of the m+,tt i;aze indebtedn~•.s
<br />T~ ,]..,.~ _ ..,3 _ _ .1~.. },.. ,.. s5, •.f tt.. \i. rh., t; [~. ~s.,~ .._ai u,i,. _o.ssi
<br />renewals Lhereaf,~deiivrred ai least fen days tw~fore the vxptrati+.n ut :any suet; pohcw,, msunng a;;aimt fire and other msu cable
<br />iuesards, casaaalties, and contingencies as the Mortgagoe may require, in an amoun! equal to the indrbttclnesa secured by this
<br />Mortgage, and in companies acceptable m the i7ortgagr<•, atth hs, paeai le clause in fav++r of and in #arm acceptable to She ~lortga-
<br />grr- In the event am• police is not renewed on or hr•f+ve ten days c+t u> ezptraturo- th,~ Mortgagee may prercure insurance on the
<br />improvetaents, pay the premiam Therefor. and such arm Thal! tv-r.*mr imunerltatrly duo and payable with interest at the rate set
<br />forth in said note until paid and sha31 tae sortt ret*.i by this mortgage. Faelum on the part of the ~f nrtgagor to €urnish such renewals
<br />tea are herein required ur failure to pay any- sums advanced hereunder :hall, at the option of the \~tortgagee. constitute a default
<br />under the items of fhis mortgage. The delivery of wch ,, ..c .ec shots, to the n•ent of defatrtt. cY,nstitu[e an assignment of the un-
<br />earned premium.
<br />Any sums received by the \iortgagee by- reas.,n ~,f ios: or damage uncured against may lee retained by the .lfoztgagee
<br />and applied toward the payment of the debt }irzeby s,rurwt. err. at the option +,f the \fartgagee, curb sums either wteally or in
<br />part may fro paid over Io the Afartgagor Tc+ he used t+~. repair =uch buildings or to build new buildings in their place or for any
<br />a$srz pt:apcnre or object satisfactory tt~ the M:rrigagee H:±h,+ut affrrEag the hen :.n the mortgage for the fuIl amount scrnrrd here-
<br />by fxfon such payment ever !r: ~k place
<br />Ta prtauptly repair, restore w rrtwtld any buildings err impmvrmrnts now ,.r hereafter an the l,remises which may' he-
<br />coaaer damaged or dcsirocod; to Arrp said premises in gtx,d condition and repair and free from any mrc•hanic's lien nr other lien or
<br />Heim a¢` lien oat expressly sut~niinated to tiro lien hereesf: not to suffer or laermii any' unlawful use of or say nuisance to exist on
<br />said prvprny tsGr to petsmt waste on said premises, exec io du any other art where-b}~ the pre party hereby rorveyed shaft htcvme
<br />Less ralerahk. oar to diminish ar impair its value by anti act ur omit io.^. tr. art. t., :,.mr]r ..uh al! rc-quirements of law with rospect
<br />Eo the rearlgaacd premises and the t;sr thereof. - - ._. LL
<br />Thar should the prtrrtises err any part ihrrhtf be taken or damaged by reason ut an>~ puhl:~ :mpravement or rvndemna:ion
<br />prkre3ing, ra urxirr t.~x righ*. ur omi.^.rnt dxrn_sin, `-. °- any ottd~z e*~nner, the 'af?•ngagee sh-1l h. ~ntiiteal t.. a!1 eumpNrr~tietts,
<br />awards. ttttd asp other pa}°monr err rrlioi xherefor, attd~sFta31 t+e entitled, aE its option, to roruntencr, appear in and prascvtale in its
<br />owe flame soy action ur prcrtrding, r r to intake am rempromise ar srttloment in rnnn:+_lian with such taking or damage Al} such
<br />ease. arrart3f, damages, right of tectioo and ptceeeeds are hereby assigrxi m iho llwtgagee, wteo may, aftat deducting
<br />thertdmm all its eepenses, release any taontys so mrei.ed iw it or appfy rho same out any indebtedness secured hereby. Thr Mort-
<br />plger atte+m, to +ie+etEU attest furt}eer assignment. of any rrvrtpen+atton- awards. damages. acrd rights cf action and prarrds as the
<br />Mortgtgee say trQtst+e.
<br />That in tsar +rf failure to perform any of the rca. enar:t-, beer tn. the lturtgage~e may do on the lforigagnr's hehalt ov.~rything
<br />so ax~snrsd; that dre Mortgagee may aLsa do any act ,i may deem nera•sza n' to protect the lien aha~reaf, that the }.tortgagoc will
<br />rryty-opus ttt.martd any moneys paid or disbutt9ed by tlse Mortgagor For any oC the above purposes. sad such moneys together with
<br />itti:~t tltervrnt rt the rate provided in said raWt shall beKxr:ar so mxh additional indehtednes. hrreh>° secured and may he in-
<br />c~dnf is say derret fm~erelaatag fhis mungate and trc paid out of the rents or prr,ree~s of sale nt sold prenuses tf not ot.herwtse
<br />plaid; tftai it tthali tt~ be ohiigaion ulxxi: the Moragagee w inquire inter the valid.:: ui any Iran rncumbrancez. ur ctarm in ed-
<br />trxss~eya as wave ~ts3tatiaaxf, flat itotltirtg berets certtaiacd shall be rnnstaved as inquiring the 'rlurtga{{re to ttdvatecr any
<br />aeooeys ~• say atteL portress titx w ~ any act hrrcw»drr: and Yhat Mortgagee shall cwt incur any prrtcmal habthty because of ans-
<br />titee~ ~ taay do to emit to do hertuadet
<br />In the evens of the default try Mutigagatr in the payment of an}~ installm«eat. tt. ra^yu:reri by ire Nr•ta- u-cur:-ei ?x-rrhy. nr
<br />is rile performarur of flee atilisaiion in this mortgage ur in ihr note aecvrrd thereby. tlr• Mortgagee sbell tae enutled to dvilar.~ tke
<br />dt>trt tesrttrd hetthg• dale sad payable witiaexrt trcatice, and fife Mortgagee alutl be entitled at uB rrrrticrn wittu,ut n.•ttce either by itsrit
<br />va irY a raoaitYt tp-be app+aatt+d try the roue{ tlertetrf, aced without r'tLam to floc artequaty at any ses^unfy frr the irndrbktvfneas sr-
<br />cyTSd = to rater tipoa azud t=ke P ttI the mart;aged ptetnisms, and W ctrikrt srxt mYivr the rents. isaates and profits
<br />tlaftteatC; sold apidy title flame; .ieae cmfs at oprratime sold Eslkctioa, ttpon sloe indebtcttettr sertterrl fry this mottga_gc; said rents,
<br />itraea atttd ptsiba'iatat betebp aterg{tted to tits Ddost;a#asu ere farther aecariky far Jhr p+acxntak of all indrblwtttoss sutrurrd hereby
<br />The h3ea4,gaglae ,titall Stare the powsr ter appoint any aseat ter agents it may desire for tier pu rtxsc of repairirte said prem-
<br />ors; tr~stir~ Lisa it~€: L tea t+ents., teaent~ a~ incrxrae. and it rttay pay nut ~ raid intnme all rxprreaea ittty reed in rent-
<br />-3a¢ ,told auarppng tLte satlr saw d ooilectiog the rcatals iherefrmn. Tlee 6alaacr retnaintng. ,I any shalt lr• applied toward the
<br />~. d #foe > iodesa. Tkis tttaf;nmrnt is to terminate tttm berornr null and va,d uyan release of thu mortgage.
<br />-_ ~
<br />_a
<br />
|