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<br />TI~'f: ytt3Fi".CGAG013 ~~.t~TI-flrl~ txa~l;>~fa*.TS wr:~ ,~s~~-s~ ~,
<br />'1-flak iEhe iu#rrrtgagar wiii pay turf ~rc~nbti.rfrs~+c+u ~~aa rsvrr~nFf-rr~. ~~rrtr.-~~,. -
<br />~ Tttaplt t,~-AltJrt~rrr is the owrrer~olC; acid property in fee s»nlsie' anc~ ~,~~hias g~irod ri~hlt. and,, lawful! autixsrit;: tv mill aund
<br />rnrtvey the recite and 'ttrat-the same is free aex~ 'clear bf' mtsy lire or rtnruatDrane:~ amd that Mortgagor wi{t vrarrant arxt d.f+rvt aiw
<br />title io said premises against ttre claims of ati pFrsores whorrtsofrrr.
<br />To pay immediately wheat due azel pityablC ail general issea, special tarn, sl:fcial a>~..._,mr•nts. water ri+arg«%. sewer serv-
<br />itr charges, artd other razes and- charges agairtat. raid propertp,, scat all lazes levia~d on Ltu detrt secured hereby. and tri furnish the
<br />Mortgagee, upon. request, with the original or duetrcate receipts Etterefor- The Sfortgagor agree. *.hat there shelf be added to
<br />© eat3t monthly payment required hereunder w under the eviderrce of debt secured hereby an amount estimated by the Mortgagee
<br />;~ to be au8irient to enable the Mortgagee to pay, as they become due. all taxes. assessir+ents, and similar charges upon the prem-
<br />~, ises subject thereio;,any defuiency because of the insufficiency of such additionat payments shall! fie forthwith deposited try tfe
<br />~~ Mortgagor wfth the -Mortgagee nptm demand by the Mortgagee. Any default under this paragraph shall 4f drerrwd a defiuit in
<br />payment of taxes, assessments, nr similar charges required hereunder.
<br />r The Mortgagor agrees that there shall also be added Iu each monthly payment of principal and interest required here-
<br />! under an amount estimated by the Alnrtgagee to be sufficient to enable the :flnrtgagee to pay, as it ben>mfs due, the insurance
<br />1 premium on any treurance policy delivered to the Mortgagee- Any de5ciency because of the insuffuiency of such additional pay-
<br />~ menu shall he forthwith deposited 6y. the Mortgagor with the Mortga .e*_- u xrn demand by the :Mort a
<br />K F g gcY• :1ny d«[autt under this
<br />- paragraph shall be deemed a default in the payment of insurance premiums. If the policy or policies deposited are such as hume-
<br />ownen; o: all risk ptlicies, and Lhe depasil, ere insufficient to pay the entire premium, the Mortgagee may apply the depri-art 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 optian of the Mortgagee, M kcld by it and
<br />rnrnmingfed with other such funds or if_s own funds for the pay~ttent of such items, and until so applied, such payments are hereby
<br />pledged as securiTy for the unpaid balance of the mortgage indebtedness.
<br />To procure, deliver to, and maintain [or the benefit of the Mortgagee during the life of this mortgage original policies and
<br />renewals thereof, delivered at least ten days before the expiration of any such policies, insuring against fire and other irtsuraMe
<br />hazards, casualties, end contingencies as the Mortgagee may require, in an amount equal W the indebtedness secured by this
<br />Mortgage. and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in farm acceptable to the Mortga-
<br />gee. In the event any policy is not renewed on or before ten days of its expiration, the Mortgagee may procure insurance on the
<br />improvements, pay the premium therefor. and such sum shall become immediately due and payable with interest at the rate sit
<br />forth in said note until paid and shall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />as are herein required ur failure to pay ary sums advanced hereunder she!!, at the option of the Mortgagee, rrstitute a rlefaul*.
<br />under the terms of this mortgage. The delivery of such policies shall, in 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 he retained by the biurtgagee
<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 satisfaMory to the Mortgagee without affeMing the lien nn IhP mortgage for the full amount secured here- -
<br />by before such payment ever took place.
<br />_ To promptly repair, restore or rebuild any buildings or improvements now or herezfter on the premises which may be-
<br />more damaged or destroyed; to keep said premises in good rendition and repair and free from any mechanic's lien or other lien or
<br />claim of lien not expressly subordinated to the lien hereof: not to suffer or permit any unlawful use of or any nuisance to exist on
<br />said property nor to permit waste un said premises, nor to do any other act whereby thr property hereby rnnveyed shall bemmP
<br />less valuable, nor to diminish or impair its value 6y any act or omission to act; to comply with all requirements of law with respect
<br />fo the mortgaged premises and the use thereof.
<br />That should the premises or any part thereof be taken or damaged by reason of any public improvement x condemnation
<br />proceeding, or under the right of eminent domain, or in any other manner, the Mortgagee shall be entitled to all compensations,
<br />- awards, and any other payment or relief therefor, and shall be entitled, at its option, to commence, appear in and pror>ecute in its
<br />own name any action or proceeding, or 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 deduMirrg
<br />- therefrom all its expenses, release any moneys so received by it or apply the same on any indebtedness secured hereby The Mort-
<br />- gagor agrees to execute such further assignments of any rnmpensation, awards, damages. and rights of action and proceeds as the
<br />-Mortgagee =may require. - -
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<br />That in case of failure to perform any of the covenants herein, the Mortgagee may do nn the Mortgagor's behalf everything
<br />-. so covenanted; 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 Mortgagee for any of the above purposes, and such moneys together with ,..,-
<br />- interest thereon at the rate provided in said note shall become so much additional indebtedness hereby secured and may he in- ""
<br />eluded in any decree foreclosing this mortgage and be paid out of the rents or proceeds of =ale of said premises if not otherwise ~'-"
<br />,., .
<br />-paid: that it shall not be obligatory upon the Mortgagee to inquire into the validity of any tien, encumbrances, or claim in ad- w+:
<br />vancin6 moneys as shave authorized, but nothing herein contained shall be construed as requiring the Mortgagee eo advance any ~-'
<br />moneys for any such purpose nor to do any aM hereunder, and that Mortgagee shall not incur any perscmat liability because of any-
<br />thing it may do or omit to do hereunder. ,.__
<br />to the event of 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 in this mortgage or in the note secured thereby, the Mortgagee shall be entitled to declare the
<br />debt secured hereby due end payable without notice, and the Mortgagee shall be entitled at its option, without notice, either by itself
<br />or by a t'eceiver to be appointed by the court !hereof, and without regard to the adequacy of any security for the indebtedness se~
<br />cured hereby. W enter upon and take possession of the mortgaged premises. and to collect and receive the rents, issuee and profits
<br />thereof, and apply the.same.less coats of.operation and collection. upon the indebtedness secured by this mortgage; said rents,
<br />iarues artd pro6fa being-hereby assigned to tfie~Mgrtgagee as further sxurfty for the payment of all indebtedness secured hereby.
<br />The Mortgagee shalt have the power to appoint any-agent or agents it may-desire for the purpose of repairing said prem-
<br />ises; renting the same: collecting the rents, revenues and inevme, amt if may pap out of said income all expenses incurred in rent-
<br />ing and managing the same and of collecting the rentals therefrom. The balance remaining, if any, shall be applied toward the
<br />discharge of the mortgage indebtedness. This assignment is fo terminate and become null and void upon release of this mortgage.
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