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T Mf7AtT[:i4o4:d?~ ~t3RTI,L~~P~ '1lkiPi4~8~','".,g ,t~d~ll7„I dW~.rk~'EE~,,
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<br />That the lwlr~rkgts~pr ~avtll pay tkae irule.t~tr~l+dne~s alt j~,il!eir[hatfore prowpd«td '', i, '
<br />Tbat the Mortgagor is the owner of szid property in tee simple and has good rigist sari lawful authority to sail and
<br />convey the carne and. that Ilse sattte.~ lees atsd-ch"ar of any lien or Enetmiilancf: and- ttutt Mostcaror ..ill v:~arrant artd def,?r±d it-e
<br />iitte to said premises-against the claims o! ail persons whomsoever-
<br />Tn pay irrsmediately *.vhen due and payable all general taxes, spatial taxes, >periai asset,me-nt=, w•a[r-r charges. sewer sers-
<br />ice charges, and rather taxes and charges against said property. and alt taxv~ t±+vi.~i cr, tt:r riebt srcurwl hereby. and to fus:t:.:k:.-the ,
<br />fit Mnrteaerw, rapen rogues:. ~:.;th ;.ttr- 6tipinai or duplicate recepL therefor. The 'tiorti,agor a€r<•:, that there shall he added !o
<br />~'~ each monthly payment required hereunder or order tF.e evidence of dekrt securwl hr-retfy an amr,unt estimatrn± by the '~,9nrtgagrr
<br />~-w to be sufficient to enable the '4iortgagee to i;ay. a #hey beenrne riuv;, ail taxc~, ®sessments. and .imilar charges vpan the prem-
<br />ices subject thereto; any deficiency irecause of tilt ins!dficienc}' of such additional pa;: rnents shat{ ht• forthwith deposited by the
<br />..,. Mortgagor with the Mortgagee upor. demand ht~ the Mortgagee- Any defeuh under this paragraph shall tt.- deemed a default in
<br />payment ri[ taxes, assessn^-ants, nr similar charges :squired hereunder.
<br />~- The b#ortgagor agrees that there steal! al:;o br added to r•aeh m+~nthly p: ymc-r,t of l.rircil.al -and ;n:e~rest rtqui red here-
<br />dnder an amount estimated by the Mortgagee to Ix• suF.-relent to enable the• Mortgagee t ~ pay- as it !-,«•wmFC due, the rnsurancr
<br />°,.n premium an any' insurance policy delivered tc the '.inrtgagc '- =4ny deficiency because of tktr ir,sufficirney of su+.h ariditi unak pay-
<br />meats shaft he farthwith deposited h} the Mortgagor with the Martgagee upon demand by tha Mortgagee. •0.ny ciefavlt under fhis
<br />paragraph shall tee dcemerl a default ir. the payment of insurance premiums If the policy or po}ides deposited are such as hums- -
<br />owners nr ail risk 1wHcies, and the deposits are insufficient to pay the entire premium, the Mortgagee may apply the depasrt to
<br />pay premiums nn risks required to he insured by this mortgage.
<br />Payments made by the liorigagor under the above paragraphs may, at the :;ption of the Mortgagee, tar held by it and
<br />commingled with other such Ltrds or iE_s own funds far the payment of cosh items, and until se applied, such payments are bereby
<br />pledged as security for the unpaid 6alancr of the mortgage indebtedness
<br />To procure, deliver to. anti maintain far the benefit of the Dortgagee during the life of this mortgage original policies and
<br />renewals thereof, delivered at least ten days tmfore the expiration of any Bach policies, insuring against fire and other insurable
<br />hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br />Mortgag>, and in companies acceptable to the :hinrtgagee, with Icss payable clause in favor of and in form acceptable to the Mortga-
<br />gee- In the event any policy is nut renewed on or before fen days of iL~ expiration. the ?ttortgager may prxure insurance ort the
<br />improvements, pay the premiwn therefor, and such sum shag become immediately due and payable wkh interest at the rate sef -
<br />Eorth is said note until paid and shall Fee secured ny this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />as are herein required or Failure to pay any sums advanced hereunder shall. at the option of the Mortgagee, a>nstitute a default
<br />under the terms of this mortgage. Thr delivery of such policies shall. in the event of default. ecnstitute an assignment of the un- --
<br />earned prerniunt.
<br />Any sums received by the Mortgagee by reason of toss or damage insured against may lte retained by the Mortgagee
<br />and applied trnvard the payment of the debt hereby secured, or, aY the option of the Mortgagee, such sums either wholly ar in
<br />part may tee paid over to the Mortgagor to be used to repair such buildings or to build new building. in their place or fnr any -
<br />other purpose ar object satisfactory to the Mortgagee without affecting the lien on the mortgage for the toil amount secured here-
<br />by before such payment ever trKSk place.
<br />To promptly repair, restore or rebuild any hvildings or improvements new or hereafter an the premises which may Fre-
<br />came damaged or destroyed: to keep said premises in good ecndition and repair and fear from any mechanic's Lien ar other lien ar
<br />claim of lien oat expressky subordinated to the lien hereof; not to sutler or t~iermif any unlawful use of or any avisanm to exist an
<br />said pmperfy nor to pern~it waste on said premises, nor to do any other ac± whereby the property hereby rvnveyec! shah became
<br />lac., valvabke, nor to diminia-h or impair its value by any act or omission to act ~, to comply with al! requirements cd law with respect - -
<br />W the mortgaged premises and the use thereat.
<br />That should the premises or any pars thereof tee taken or damaged by reason of an:: public improvement cr candemnatinn
<br />proceeding, or ,ender t't+.c ..^.ght cf emi :ant dr-nairr, or ;u any oiirer manner. the htcrfgagce shaft be entitled to ail camprnsations, -
<br />aw-stvs, and any other payment or relief therefor, and shall be entitled, at its option, to commence, appear in and prosecute in its -
<br />o~-n rcr=rrre any ,aciiari or pro<°eding, ur to make any compromise ar settlement in conne>.=fion with sash taking ar damage. Ali sash -
<br />~rnperssatiort; -avratais. rtama6es, riglsL of action and-proceeds are hereby. avesigned to the hioztgagee..whci may- after eleduclinr
<br />therefrom all its e:pensea, release any moneys tto received by it or apply the same on any indebtedness secured hereby. The MorE- -
<br />gagor agrees to eiecute such further assignments of any compensation, awards, damages, and rights of action aril proceeds as the
<br />Mortgagee may require.
<br />That in case o[ failure to perform any of the covenants herein, the Mortgagee may do on the tiortgagor's behalf even thing
<br />so covenanted: that the Mortgagee may also do any act it may deem necessary to protect the lien thereat; that the Mortgagor wilt ,-
<br />repay upon demand any moneys paid or disbursed by the (yiortgagee for any of the above purposes, and such moneys together with
<br />interest thereon at the rate prttvided in said note shall become so much additional indebtedness hereby secured and may fse in- >
<br />eluded in any decree foreclosing this mortgage and be paid out of the rents or prrrceeds of sale of said premises it oat otherwise --- .
<br />paid; that it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien, encumhranrns, nr claim in ad-
<br />vancing moneys as above authorised, but nothing herein contained shall be construed as requiring the Mortgagee to advance any --`
<br />moneys for any such purpose oar to do any act hereunder, and that Mortgagee shall not incur any personal liability because of any-
<br />thing it may da or emit Yo do hereunder- -
<br />In the event o[ the default by Mortgagor in the payment of any installment, as required by the Note secured hereby. or
<br />in the performance of the obligation m this mortgage or in the note secured thereby, the Mortgagee shall tee en[itied to ciedare the
<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 by a, re~eivet' to be alywinted tsy the court thereof, and without regard to the adequacy of any security fur the indebtedness se-
<br />enred Hereby; Lo enker upon and 'take pos§es$ian of the mortgaged premises, and to collect and receive the rents, issues and profits
<br />thereof, sad apply the testae, less costs o[ ope_ ration and coltection, upon the inilelitednesa secured by this mortgage; said rents,
<br />issues-and profits-being herihy assigned to the Mortgagee iLS further security for the- payment of alt indebtedness secured hereby.
<br />The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said pram-
<br />--- iaea~ renting the same; ctslleetiag the. rents, reverzves and income, and it may pay out of said income aR expenses incurred in rent-
<br />ing attd managing the rattle "and of collecting .the rantals therefrom. The balance remaining, if any, shall be applied toward the
<br />discharge of the mortgage indebtedness. This ass¢nment is to termittate and becomg null and void upon release of this mortgage.
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