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TtfE Mf3RTGAGOR FURTHER t~4"ENANTS AND AGREES.
<br />That the Mortgagor will pay the -sndehtedness a_s hereinbeforTp~ ~ -
<br />That fbe Mortgagor in_the Mvner of said property itt fee simple and has good right and lawfut authority to sell and
<br />convey the same and that the same is free and clear of any lien or encumbrance; and that Mortgagor will warranE and defend -the
<br />~ title to said premises against the claims of all persons whomsoever.
<br />To pay immediatety" when due and payable ell general- taxes, special taxes. special assessment:, water charges, sewer serv-
<br />s'tj ice charges, and other taxes acid rhar'ges.against said properly, and aU taxes levied on the debt secured hereby, and to furnish the
<br />~ Mortgagee, open request, with the original or duplicate receipts therefor. The Mortgagor agrees that the-re shall be added Eo
<br />~ each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to >U a'SfEWent to er:sble the Mortgagee to pay, ss tlrPy ti_.,c^'.cme due, ail taxes. assessmeats, and similar charges upon the prom-
<br />ises subject thereto; any deficiency because of the insufficiency o[ such additional payments shall he forthwith deposited by the
<br />~ Mortgagor wfth..the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shall be deemed a default in
<br />j- payment of fazes, assessments, nr similar charges required hereunder.
<br />The Mortgagor agrees that there shall also be added to each monthly payment of principal and interest required here-
<br />under an ar,.ount. estimated by the Mortgagee to be sufficient to enable the Mortgagee- to pay, as it becomes due- the insurance
<br />premium on any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pay-
<br />ments shall be forthwith deposited by the Mortgagee with the Mortgagee upon demand by the Rortgagee. Any default under this
<br />paragraph shall he deemed a default in the payment of insurance premiums. If the policy or policies deposited arc such as hvme-
<br />owners or all risk policies, and the dPpO51t.S are insufficient to pay the entire premium, the Mortgagee may apply the deposit to
<br />pay premiums on risks required to be insured by this mortgage. - - ~ -
<br />Payments made by the Mortgagor under the above paragraphs may, at the option of the Mortgagee, be held by it and
<br />commingled with other such funds or its own funds For the payment of such items, and until so applied, such payments are hereby
<br />pledged as security for the anpaid balance of the mortgage indebtedness.
<br />To procure, deliver to, and maintain for the benefit of the Mortgagee during the life of this mortgage original policies and
<br />renewals ihereef, delivered at !east ten days before the expiration of any such policies, in-surfing against fire and other insurable
<br />hazards, casualties, and rnntingencies 8H the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br />Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the Mortga-
<br />gee. In the event any {wlicy is not renewed on or before ten days of iLs expiration, the Mortgagee may procure insurance on the
<br />improvements, pay the premium there(nr, and such sum shall become immediately due and payable with interest at the rate set
<br />forth in said note unlit paid and shall he secured by this mortgage Failure on the part of the Mortgagor to furnish such renewals
<br />as ate herein required or failure to pay any sums advanced hereunder shall, at the option of the Mortgagee, constitute a rlefaalt
<br />under t}te terms of this mortgage. The delivery of such policies shall, do the event of default, constitute an assignment of the un-
<br />earned premium. -
<br />Any sums received by the Mortgagee by reason of loss or damage insured against may be retained by the hiurtgagee
<br />and applied toward the payment of the debt hereby secured, or, at the option of the Mortgagee, such sums either wholly or in
<br />part may be paid over to the Mortgagor to be used to repair such buildings or to build new buildings in their place or for any
<br />other purpose or object satisfactory to the Mortgagee without affecting the lien nn the mortgage for the full amount secured here-
<br />by before such payment ever took place.
<br />To promptly repair, restore or rebuild any buildings nr improvements naw ar hereafter on the premises which may he-
<br />rnme damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic £ lien ar other lien or
<br />claim of lien not expressly subordinated to the lien hereof; not to suffer or {x•rmit any unlawful use o[ nr any nuisance to exist an
<br />said property nor to permit waste on said premises, nor to do any niher act whereby the property hereby conveyed shall become
<br />less valuable, nor W diminish or impair its value by any act or omission to set; to comply with all rrquiremeats of law with respect
<br />to the mortgaged premises earl the use the reef.
<br />'t`hat shauld the premises or any part thereof be taken or damaged by cease:n of any public improvamen± or cenrlemnation
<br />proceeding, or under the sight of eminent domain, or in a,ny other manner, the Mortgagee shall !H eniitied [n aft ~mpensatinnc-
<br />awards, and any other payment or relief therefor. and shall be entitled, at its option, to commence, appear in and prosecute in its
<br />rwun name any action or aroceeding. or to make any compromise or settlement in connection with such taking or damage. A!1 such
<br />compensation, awards, damages, right of action and proceeds are hereby assigned to the Mortgagee. who may, after deducting
<br />therefrom a16 ifs expenses, release any moneys so received by it or apply the same on any indebtedness secured hereby. The Mort-
<br />gatfor agrees to execute such further assignments of any compensation, awards, damages, aril rights of action and proceeds as the
<br />Mortgagee may require.
<br />Thal in case of failure to perform any of the covenants herein, the Mortgagee may do nn the, l~iortgagor's he•half everything
<br />so wrenanted; that the Mortgagee may also do any act it may deem necessary to protect [he lien thereof: that the Mortgagor will
<br />repay upon demand any moneys paid or disbursed by the Mortgagorr h.r any +~f the above purposes. and ..uch numeyn ttlKPthPr K'Ith
<br />interest thereon at the rate rrovidad in said note shall Ix•come s.. much adthUonal IndPMednres hereby secured and may he in-
<br />cluded In any decree foeeclosing this mortgage and he paid out of the rents or pr«•eeds of sale of said prenuse•s !f not otherM•isP `'""
<br />paid; that it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien. Pnrumhranres, or r{aim in ad-
<br />vancing moneys as above authorized, but nothing herein contained shall be construed as requiring the Mortgagee to advance any
<br />moneys for any such purpose our to do any act hereunder; and that Mortgagee shall not incur any personal tiabilify twcause of any- z,;;~
<br />thing it may do or whit to do hereunder. y:y
<br />In the avant of the default try Mortgagor sn the payment of any tratallmcnt, as required by the Note scc'ur~# hereby. er
<br />in the. performance of the. obligation in this mortgage or ire the=. note secured thereby, the Mortgagee shall beentitled fo dr.:lare the ~'
<br />debt secured hereby due and payable without notice, and the Mortgagee shall he entitled at its option, without notices, either by it+ulf
<br />or by a receiver to be appointed by the court thereof, and without regard to the adequacy rat any sorority for the indebtedness se-
<br />eured-hereby,,to.enter upon and take pos3e~sion of the mortgaged premises, and to collect and receive the rents. issues and profits
<br />!hereof, and apply the same, .1e5•s costs of operation and collection, upon the indebtedness secured by this mortgage; said rnr. ts,
<br />i>~aes acrd pra~ts beirtg,hereby s~igtted to the Mortgagee as further security for the payment of all indebtedness secured hereby
<br />-- ~-`!'hP Mortgagee shall -have the power to appoint any agent. or agehis it may desire for the purpose of repairing said prem-
<br />ises; renting the same; collecting the rents, revenues and income, and it stay pay autof said income aU. expenses incurred in rent-
<br />ing and managing the same and of collecting the rentals therefrom. The balance remaining: if any, shalt be applied toward the
<br />discharge of the mortgage imtebtedness. This assignment is w terminate and become null and vole! ~ptm releASP of this mortgage.
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