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<br />THE MORTGAGOR FURTHER COVENANTS AND AGREES:
<br />That the Mortgagor will pay the indebtedness as herein f
<br />r~~e,~ ..
<br />Thet,the%Mnrtgagor is the Owner of said property in fee simple and has good right and lawful authority to sell and
<br />convey the sarr"e_aid thaYthe-same is free and dear of any lien or encumbrance; and that Mortgagor will warrant and defemi the
<br />title to said premises against the claims of al! persons whomsoever.
<br />To pay-immediately when due and -payable all general taxes, special taxes, special assessments, water charges, sewer serv-
<br />ice chazges, and other taxes and-charges agaittsl acid property, and afl taxes levied on the debt. secured fierebv, and to furnish the
<br />Mortgagee, upon request, with the origins! or duplicate receipts therefor. The Mortgagor agrees that there shall be added to
<br />each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to be sufficient to enable the Mortgagee to pay, as they become due, al! taxes, assessments, and similar charges upon the prem~
<br />lees subject thereto; any_ deficiency lseeause of the insufficiency of such additional payments shall he forthwith deposited by the
<br />Mortgagor with the Mortgagee upon demand by the hlnrtgage e. Any default under this paragraph shall be deemed a default in
<br />payment of-faxes, asses mettle. or similar-charges required hereunder. - - -
<br />The Morkgagor agiMes that there shall also tie added to each monthl}• paymenl of principal and interes!-repaired here-
<br />Q~ tinder an amount estimated by the Mortgagee to be su&aent to enable the Mortgagee to pay, as it becomes due, the insurance
<br />Qa premium on any insurance policy delivei*eci to the Mortgagee. Any deficiency because of the insufficiency of such additional pay-
<br />.~ meats snail be iorthx•iih deposited by the Mortgagor with the Mortgagee upon demand try the Mortgagee. Any default under This
<br />f paragraph shalt be deemed a default in the payment of insurance premiums. If the policy or policies deposited are such as ttome-
<br />~ comer,; ar ail risk policies, and the deposits are insufficient to pay the entire premium, the Mortgagee may apply the deposit to
<br />t pay premiums oa risks required to be insured by this mortgage. -
<br />~ Payments made by the rtifortgagor under the atxrve paragraphs may. at the option of the Mortgagee, be held by it and
<br />~ commingled with other such funds nr its own funds for the payment of Bach items, and until so applier',, such payments are hereh_v
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
<br />To procure, deliver Co, and maintain for the benefit of [he Mortgagee during the life of this mortgage original policies and
<br />renewals thereof, delivered at least ten days before the expiration of any such iwlicies, insuring against fire arxt other insurable
<br />hararda, t`satralti~ ate. rnrt;;n,>a.,--rcaa ~ the Murtraeee may rrq.,;y.., =n __ r.,t.V,ane ~••••si ko L~ i.:d ~..~..•_' : ~ arcrrrtu by thin
<br />Mortgage, and in companies acceptable to the Mortgagee, w~tth los. payable clause in favor of and m (nrm acceptable to the Alortga-
<br />gee. In the event any policy is not renewed on or hefare ten days of its expiration. the Aforigagee may procure insurance on the
<br />improvements, pay tt:a premium therefor. and such sum shall become immediately due and payable with interest at the rate art
<br />forth in said note until paid and shall be secured by this mortgage. Failure on the part of the fsfortgagor to furnish such renewals
<br />as are herein required or failure to pay any sums advanced hereunder shall, at khe option of the Mortgagee, constitute a default
<br />tinder the tercets of this mortgage. The delivery o[ such policies shall, in the event of defaul{, constitute an assignment of the un-
<br />earr~d premium -
<br />Any sums received by the Mortgagee by reason of lass or damage insured against ma}' be retained by the 1ortgagee
<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 [n the ~lnrtgager to be used to repair such buildings er to build"new- buildings in their place or for any
<br />other purpose or object satisfactor}• to i}te Murt~agee without affecting the lien oc. the mortgage for the Cult amount =ecured here-
<br />by before such paymenl ever took place.
<br />To piroanptly repair, restore or rebuild any buildings or improvements now ur hereafter on the premises which may be-
<br />come damaged or destroyed; to keep said premises in goad rnndition and repair and free from any mechanic's lien or other lien or
<br />claim of lien cwt ezprese]y subordinated to the Len hereof: not to suffer or permit any ur.]awful use of or any nuisance to exist on
<br />said praprrty iwr to permit waste oat said promises, nor to do any other act whereby the property hereby rnnveyed shall become
<br />fees valuable. nor to diinini~ or impair its value by any act or omission to act: to remph_ with all requirements of law with respect
<br />to the mortgaged premises and fire use thereof.
<br />That should the premises nr any part thereof bz taken or damaged by reason at an.' public improvement or trndemnation
<br />proceeding. ar under tlse right of zminetrt domain, ca in anv other manner, the yorgagee stall br entitled fo al! tnmpensations,
<br />awards, and arty other payment nr relief thzrefur. and shall be entitled, at ii, option. fo o:~mmeno. appear in and prosecute in its
<br />osvtt name any action ar ptncezding, or zc. make any rnmpromisr or szrtlement :n n*nnrctrnn u-it^ -urn taking or damage .All such
<br />coaiPemetios. aastds, damages. right of action acid proceeds are hereby assigned to Ihz 1lorigagee, who may, after deducting
<br />therefrom atI its expenses, release any moneys so rernived by it or apply fhe same tin any indebtedness secured hereby. The tfort-
<br />Sagor agrees W execute such further assignments of any ecmpensatu.n. awards, damages, and right of action and proceeds as the
<br />Mor~t6agee may regaire.
<br />That is cs~ of [allure to przFurm any o€ the rocenanb t~rem the Mort~ee may du on the ylortgagot's trehalf everything t"•
<br />ao cxrvenartttrf; that the \f ortgngee may also: do any art n ma} dzrm r..-~•.-sear; ix~ protect the lien therrt,f: that the Slurtgagor will ~""
<br />repay upon demand any toanevs paid or d>-.bursrd bs ahr• !.t.=rtgagh for an} of the atx~.e puryxses, and such moneys togetter with "'^
<br />interest ttiererin at the rate prm•ided in said n xe shall tin:orne >:. much addttonal indehte,iness hereby ;ecured and may Fee in- 5,r.
<br />e3atled isi any deety~e taceclnsing thu mortgage and M paid wi of the mots or praccrds of sale of wid prrmtxs if not cthzrw ise
<br />paid: tha4 it shall rrot br ob&gatory upon the Mortgagee t?+ ir~uire into t#ievalidity _nr say lien, encumt>ranrs. cr claim in ad-"~'
<br />vaacng marieps as above autborirrd. hui rio!?aing tirrx=in .-untamed shall be construed as rcruiring the Mortgagee to advance any ~-~-
<br />rreoneya for any scii purpose tier to do any art irer.~-s tide: and that rsfrrtgaeee shall net inevr any personal IiaMlity because of any-
<br />Itiisg it may do ar umn to do hrrruodrr.
<br />In the event of the default by Mortgagor in the payment of any enstallmert. as requered by lire Notr secured hereby, or
<br />in the perfoxmaixe .~ the uvtafiget;~rrt is 11tts rrnxtgage ur in the nau• setvred thereby, the Mortgagee shads be entitled ke declare the
<br />debt secured hereby due and payable wiP.hotit notice, and the lfcrtgager shall he entitled at its option. w-ithaui notiaz, either by itself
<br />or by a reeeia-er to be ap{raintKl by the rou r+. ihere+:>f. a-id without regard !n the adequacy of any secu city for the indebtedness se-
<br />Carad bnteby, to mtrr upon grid take posses+iun of the mortgaged premises. and Lu m(lec[ and receive the rents, i,surs and profits
<br />ttraisaf, and apply the r:atse, less coats of operation and collection, upon the indebtedness secured by this martgege; said rents,
<br />issues and profits being hereby a~igned Co the Mortgagee as further security far the payment of all indebtedness srcurtd hereby.
<br />- The lterrtgagee et+stl have the power to appoint any agent or agents it tray desire for the purpose of repairing said prern-
<br />isas: resting the same; collecting the rents, revenues acrd income, and it taay pay out of said inrnme all ezprnses incurred in rent-
<br />ing and managing the same acrd of egftartixy; the rentals therefrom. The balance temaini,ng. if any, shall hr applied Wward the
<br />dfsthsrgc of the n~iatt;•~t iodrbtedrmas. Thin asaignroe•nt is to terminate and become null and void upon release of this rrurtgage.
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