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<br />TJFfIE 11ffsli`TlC~AfY;`~I 1=z3~ v€}~~±~I~ .~a{~ sr~: ..
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<br />That the Mortgagor will pay the it;detdedtrexs as heteinbefore provided.
<br />[ r That the .rrfortgagot is il~ Owner of said property in fee simple and fray ganef tight and lawful authority ±n sett anr'
<br />If convey the same attd that fire same is fire and char ~ any lien ar rncutabraren•; and that M*irzgagar ;veil w-arrant neat drfe:s*! the
<br />i title to said premises against the ctaitns of all peraom whonswever.
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<br />~ To pay immeciiafely when due and payable all general taxes, spr.cial taxes. specia3 assessments, water charges, serer sen~-
<br />ice charges, noel other fazes and charge-; against said property, and a8 taxes levied ctr. the- debt sY+~urr-d hereby, and try furnis:r t},e
<br />Mortgagee, upon request, with the ariginai or duplicate rc-ceipks therefor. The *+ia rtgagor agrrr-~ t?:at there shalj ire added to
<br />.~ eae}e montlalp payment required hereunder nr under the evidrnc<• of debt u-cow!-d h.-reby as amr+unt e;timated by the ,'.tarfgagee
<br />to ba sv>°'tcien# to enable the Mortgagee to l;ay, as they become rlua, ail Uxes, as>essments. anri similar charges uPor, the prom-
<br />' ~ ises subje^_t Ehereto; arty deficiency because, of the it:suffcieucy <;. ~~ch arklitioaal fs~•:mrnt.s ,haft h= furthw•itt: ;cr•pe,siied by the
<br />~~ Mortgagor with Che Itfotigagee upr•n demand h, the lfork;;a;;re Ar?y <;«.,,a~it undo-r this paragraph .hall h:• cte•c~me;l a default i.^:
<br />payment of !axes, assessments, nr similar r-barges rrquireef hereunder.
<br />- /~ The Mortgagor agrees that there shalt also F;e added to each mcnthiy payment of principal and interest rrquireei here-
<br />- under an amount estimated by the Mortgagee to br sufficient to enable the . iori„agre :u pay. as it becomes due, the insurance
<br />premium on any insurance policy dr!i+.cred to khr Mortgagee- i,ny deficirrcy ?x-cause :,f the insurticurncy of such additianaf pay-
<br />- menLs shall be forthwith deprssi reel by the :vfurtgagur with the Mc:rtgageu utx;n demand }+v thr• Mcrtgage.~. Any default under this
<br />". paragraph shall be deemed a default in the payment of insu rarce premium: Sf the fxr?ic_: r.r fxdirrs depc,.itrd are such a; 'rx~me~
<br />- owners or alt risk fzalic~i-. a, and the deposits ere iresufficient to pay the entire- prFrnium, t!:e -3lurigaK!"r may apply the rlefx,xit 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 cotton n( the Mortgagee, }+r herd by it noel
<br />- commingled wish other such funds cr its own funds for the payment of such items, anr3 urtii so applied, such payments are brrehy
<br />pledged ~ :xaurity for the unpaid balance of the mortgage indebtedness
<br />To procure, deliver to, and maintain for the tx'neHt :;i the Mortgagee during ihr Life of this mortgage uriginai policies and
<br />renewals thereof, de}ive sed at least ten days Fx--fore Lhe expiration of any such rw:licies. in=wring against fire and other ir~urahle
<br />- hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br />_ P,ar.gage, and _~ cYSmnanies aeceytabie to the i.fortgagee. wah :oss payable clause in fa•:or of and in form accaptahie to the Aiortga-
<br />- gee. In the event any policy is not renewer! on or be-tarp ten days oC its expiration- the `$ortgagre treat' prxure inauranc-e c.a the
<br />improvements, pay the premium therefor, and such sum shalt bec:;me immediatr!y due and payable with interest at the rate set
<br />Earth in said note until paid and shall br• secured by this mortgage- Failure me the part aF the Mortgagor to furnish such renewal=
<br />as are herein required ur failure to pay any sums advanced hereunder shall, at the option of the Mr:rtgagr~r-, roratitute a dFfautf
<br />under the terms of this mortgage. The delivery of such policies shall, in the event of default. constitute an assignment n[ ±hr un~
<br />earned premium.
<br />Any sums recriwed by the Mortgagee 6t' reason of loss ar damage in.=ured against may he relainrd by the ~lortzagee
<br />and applied toward the payment of the debt hereby secured, or, at the option of the Mortgagee, such sums rikhrr wholly ur in
<br />part may be paid over to the Mortgagor ks be used to repair such buildings or to build new buildings in their place or R,r any
<br />other purpose or object satisfactory to khe Mortgagee without affecting the lien on the mortgage for the full arnnunt wcu r-r? hire-
<br />- by before such payment ever kwk place.
<br />To promptly re?lair, restore or rebuild any buildings or improvements now or hereafter on the premiss which may tre-
<br />come damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic's Lien or other lien or
<br />- claim of hen not expressly subordinated to the lien hereof: not to sutler ar fx•rmit any unlawful use at or any nuisance to exist an
<br />- said property nor to permit waste an said premises, nor to do any other act whereby the property herehy conveyed shall Mcome
<br />leas valuable, not to diminish or impair its value by any act ur omission tc act; to comply with alt cry uiremenU of law with rr-spot
<br />to the mortgaged premises and the use thereof.
<br />- _- That should the premises or any part thereof he taken or damaged by resvwn of any public improvement ar condemnation
<br />proceeding, a: under the right of eminent domain, nr in any other manner, the Mortgagee shalt 6e entitled to all compensations,
<br />- awards, and art' athsr payment or rrlieE therefor, and shall be entitled, at its option, to commence, apf±rar in and prosecute in its
<br />- own name any action or proceeding, ur to make any compromise or settlement in connection with such taking or damage. All such
<br />compensation, awards, damages, right of action and proceeds are hereby assigned to -the Mortgagee, who may, after -deducting
<br />therefrom al!' its expenses, release any moneys srr received by it or apply the same un any indebtedness secured hereby. The Mart-
<br />. - gagor.sgreea to execute such further assignments of any compensation, awards, damages, and eights of action and proceeds as the
<br />- Mortgagee may require.
<br />- ~ That in case of failure to perform any n( 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 d, protect the lien thereat: that the Mortgagor will
<br />re a u n demand an mone s id ar disbursed by the Morf ogee for an of the above ur oses. and such moneys to ether with ~~
<br />P Y Po Y Y pa g Y P p g
<br />interest thereon at the rate provided in said-note shall becrsme sa much additional indebtedness hereby secured and may tie in-
<br />eluded in any decree foreclosing this mortgage and he paid out of Lhe rents or proceeds of sale of said premises if not otherwise ,~
<br />- paid; that it shall not be obligatory upon the Mortgagee to inquire tote: the validity of any lien, encumbrances, or claim in ad- ~;';~-
<br />vatlcing moneys_~ above-authorised, but nothing herein contained shall Ix construed as requiring the Mortgagee to advance any
<br />tnonepa for any such purpose nor to do any act hereunder; and that Mortgagee shall not incur any personal liability because of any-
<br />thing it may do or omit to do hereunder.
<br />In the event of the default by Mortgagor in the payment of any installment, as required by the Mote secured hereby, or - _
<br />in the performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall be entitled to declare 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. lyy a retayiver tobeappointee-by:the court thereof, and :without regard to the atteq:3acy of at.y secuciiy for the indebtcclnessse-
<br />cured herehy, to enter upon and fake pos?;essibn of the mortgaged premises, and to collect and receive the rents: issues and -profits
<br />thereof and-apply the same, less costs of operation and cotleetian, upon the indebtedness secured by this mortgage; said rents,
<br />- issues end pre5ta-being-hereby-assigned to ttte-Mortgageeas further security for Ehe payment of all indehfedneas secured hereby.
<br />The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said' prem-
<br />. taco;-renting the:_samei collecting the rents, revenues and income, and it may pay out of said inrnme all expenses incurred in rent-
<br />ing and managing thesame and aC collecting the rentals therefrom. The balance remaining, if any. shall he applied toward the
<br />dtachargr of the mortgage indebtedness This assignment is to terminate and become null and void upon release of this mortgage.
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