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<br />T'F~f~, 'luKIC#'RTf3P.Clif3FK Ff:rRT`~fER t'~OV~:lrtl!A1hiTi1 AN'i3 AGFt1~ES:
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<br />That the Mortgagor wit! pay the indebtedness an herein before _pravirled.
<br />That the Mortgagor is the owner of said property in ter simple and has good right and lawful authority to sell and
<br />rnnvey the satne grid that the sBtttk is~tree: arttl:Clear of any lien or encumbrance: and that Mortgagor will warrant :.nd defend -the-
<br />title to s»id premises against the claims of alt persnns whrmvaoever.
<br />To pay E3vrs`ediately-when dire and'1'ia3>able stl-gen"seal fazes; speriai taxes, special assessments. wafer charges, seu-er serv-
<br />ice charges, amt other taxes anti charges against series 1>raperty, and alt tars 3evied on *.he deixt srrured hereby. and to furnish the
<br />Mortgagee, upon-ttEgttest, with the-original or. duplicates receipts therefor. T.he Mortgagor agrees that there .hall be added in
<br />sash monthly payment required hereunder or under ?hr• evide>nc>• of debt =scored her,-by an amount estimated by the :~Sortgagee
<br />to be sut#ieient- tc- enable -the- Mortgagee. to pay, as they become due, all taxes, as4essmrnL=. and similar charges upon the pram-~
<br />~isrs s:;hSrn_ rhpretn _- ris.fir__, Brc.__.,_ of !h: .._:.??ic..• ::f .,,.e}: ddii,.,r,a j.a ~'-k+ s,:au ~ - iFe iiepr>site iF~ i}ir
<br />~ Mortgagor with the aMortgagee. upon dernancl by foe Mortgagee Any default under•this Paragraph shallr he deemed a default in
<br />j paymen! ~of taxes, assessments, or srmrlar charges required hereunder.
<br />.~ ~ The Mortgagor agrees Yhat there =hall also be added to each monthly payment of principal and interest required here-
<br />under an amount estimated by the Mortgagee to be sufficient to enable the Mortgagee trr pay, as it becomes due, the insu ranee
<br />premmm an any insurance pelicy delivered to the Martgager..4 ry deficiency because of fhe• msufficienry of such additional Isay-
<br />~ menu shall he forthwith deposited by the Mortgagor with the- Mortgagee upon demand by the Mortgagee- Any default under this
<br />- paragraph shat} he deemed a default in the payment of in<u ranee premiums. If the Policy err policies :iepc>sited are such as }wane-
<br />' owners or all risk {>olicies, am: the deposits are insufficient to pay the entire Premium, tha Mortgage. may apply the deposit fo
<br />pay premiums on risks required to be insured by this mortgage.
<br />Payments made by the Aortgagor under th«• above paragraphs uiay- at fhe option n[ the Mortgagee, be held by it and
<br />commingled with other such fwtds err its own funds for the payment of soli. items, and until so a{>plied, such payments are hereby
<br />pledgerf as security for the unpaid balance of the mmtgagr intlehtedness.
<br />Ta procure, deliver to. ar,d maintain for the benefit .;f the ~1ortKag~.-• during th+> hfc• of this mortgage original poheins and
<br />renewals thereof, detivcred at least ten days hrlore the expiration of any such policies. insuring against fire and other insurable
<br />hazards, casualties, and contingencies as fhe Ivtortgagce max• require, in an amount equal to the indebtedness secured by this
<br />Mortgage, and in companies acceptable to the Mortgagee, ui%h }era Payable clause in favor of sad in form secs-ptable to the Mortga-
<br />gee. In the event any policy is not renewed on err ix+fo r~• ton day> u( ifs PxPira?ion, the MurtgsFr•F may procure insurance on the
<br />improvements, pay the premium therefor. and such mum :halt i>rr•nie imm_-•d,atr~iy~ du., anti Pa.;hir• with inte>re-*:t at th+ rate set
<br />forth in said note until paid anti shall hr secured by this mortgage fiailu re on the Par?. of the 'titortgagar to tarnish such renewals
<br />as are herein required ur (ails re to pay any sums advanc*~d hereunder :haft, at the opiian of the Mortgagee, constitute a default
<br />under 'the terms of this mortgage- The drlirrry of ,uch Polities shall, m the event of r?efauli. constih: ee an asignn;rnt of the nn-
<br />earned premium.
<br />Any sums received by the Mortgagee be reason of loss nr damage insured agninet may }>< retained by the ~L,rtgagee
<br />and applied toward the payment of the- debt hereby secured, or, at the option of the ?\lnrtgagee, such sums either wholly or in
<br />- part cosy he paid over fo the Mortgagor to be user} to repair such buildings or to boilcl'new buildings in their place ,rr far any
<br />other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage (or the full ame,~nt ~rru rod here
<br />by before such payment ever took Place.
<br />To promptly repair, restore ur rebuild any buildings err improvements now ur hereafter an the {,remises which may he-
<br />coma_ damaged or destroyed: to keep said premises in ;and ecrndition and repair and tree fmm any mechanic's lien or other lien err
<br />claim of lien not espress[y subordinated to the lien barest: not to suffer err permit any unlawful use of err an :~ nu isaner to exist nn
<br />said property nor to permit waste on said pre•rnisrs, aor to do any other act whereby the property hr reby conveyed shall treccsme
<br />less ra}uahle, nor to diminish or impair its value by any aFt or amicsion t.-, act: to .--ompl:• with alE raqutr,•menf +;f law °..•ittr :~-s,~seet
<br />to the mortgaged premises and the use thereof.
<br />That strauld ihr- prrm;ses ; r any Part ?h:=r~-c,r t,;. •°t.-•::::r ,la,•,;rK,•,! by ._.--...-..-.. „i,l i.• impr„v..n,..nt <,r .,.nd.•.n n,ition
<br />gruceeding. err under the right of eminent domain, or in any other manner, the 'x1>rtgage shall Mr entitled to all a>mpensattans,
<br />awards, and any other payment or relief therefor, and shall lee entitled, at its option, to mmmencw, appear 9n and proarrute in its
<br />ow•n name any action ur proceeding, nr h> make any compromise ur seUh•mrnt u: axux•ctian with such taking err damage All such
<br />compensation, awards, damages, right of action and proceeds are hereby assigned to the Mortgagee. who pray. after deducting F -
<br />therefrom all its expenses, release any moneys so received by it or apply the same on any inclebiednrss secured hereby. The Mort-
<br />gagor agrees to execute such further assignments of any rampensation. awards, damages, and rights of action and proceeds as the
<br />Mortgagee may require.
<br />`ei
<br />That :r. crier of failure 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 do any act it may deem necessary h, pn>tecf the lien thereof; that the Mortgagor will ~-~
<br />repay upon demand any moneys paid or disbursed by the Mortgagee for any of the aFwve purposes, and such moneys together with
<br />interest-thereon at the rate provided in said note shall become so much additionaF indebtrdn.~ss hrrebr' xcurrd and may #m in-
<br />cluded in any decree foreclosing this mortgage and tra• paid out o[ the rents or proceeds of sale of said premiers if not otherwise
<br />paid; that it shall not be obligatory upon the Aortgagee to inquire inter the validity of any lien. rncumhrancrs, or c}aim in ad-
<br />vatxfng moneys ea above aulhorised, but nothing herein contained shall be construed as requiring the Alortgagre to advance any
<br />morutys for_an~r such purpose nor to do any sot hereunder, anti that Mo.-tgagee shall oat incur any personal tiabi_lity because of any-
<br />thing i0-may do or omit to do hereunder.
<br />In the event of the default by Mortgagor in the payment o[ any installment, as required by the Note sec~recl hereby. or
<br />in the performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall he entitled fa declare fhe
<br />debt secured hereby due and payable without notice, and the Mortgagee shall be entitled at its option, without notice, either by itself
<br />or lty a _tat~iver to be appointed by the court thereo_f• and without regard to the adequacy of any security for the indebtedness se-
<br />cuted tteteby, fo enter upon and take poskrtisinn of the mortgaged premises, and to ctille.;t and receive the rents, issues and profits
<br />theitwf; an$-apply the same, ,lees coats o[ operation and collection, upon the indebtedness secured by this mortgage; said rents,
<br />' - - issnes-and pt8$te-being-hereby-a~igned- to-t-he. Mortgagee as further security for the payment of alt indebtednes9 secured hereby.
<br />The Mortgagee shall have the power to appoint any agent err agents it may desire for the purpose of repairing said pr~m-
<br />isea; ranting the same; collecting the rents, revenues and income, and it may pay out of said income alt expenses inntrred in rent-
<br />ing and managing the same and of collecting the rentals lheretrom. The balance eemaining. it any, shall ire applied toward the
<br />dipeJtatge of the mpttga$e indebtedness. This asai$nment is to terminate and become null and void upon release of this mortgage.
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