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THE MORTGAGOR FURTHER COVENANTS ANI3 AGREES: ~•
<br />That the Mortgagor will pay the indebtedness as herrinbefore provided, r~ j„• ! ;'~ , , -'
<br />That the Mortgagor is the riwner of said property in fee simple and has goad right end lawful authority to sell and
<br />convey the seine and that-tire esene is free and clear of any-lien or encumbrance; and that Mortgagor will warrant and defend 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 charges, and other taxes and:: clrargea-agafnat said property; and all taxes levied on the debt secured hereby, and to furnish the
<br />Mortgagee, -ugnn. request, with the original or duplicate receipts Eherefor- The Mortgagor ag eras Thai there shalt br added to
<br />each monthly payment required hereunder or under the evidence of debt sccu:ed here=by an amount estimated by the Mortgagee
<br />Yo be sufficient to citable the 116ortgagee to pay, as they become due, all taxes, assessments, and similar charges upor. the prem~
<br />ices subject thereto; any deficiency because of the insufficiency of such. additional payments shall be forthwith ¢eposi[ed by the
<br />~_- Mortgagor avitii ~t}re Mortg2foe~.-tt%tOR demand by the Mortgagee. Any rtefault tinder this paragraph shalt be dezmzd a-default in
<br />payment of taxes, assessments, nr similar charges required hereunder. ~ - -"
<br />The bfortgagvr agrees that there shall also he added to each me•rthly payment of pri m-ipal and interest required here-
<br />under an amcxrnt estimated by the Mortgagee to 7>e suficienl to enable the Mortgagee to pa}•, as it becomes clue, the insurance
<br />+_` premium on any insurance polity delivered to the Mortgagee. Any deficiency because n[ the insuffrciency of such additional pay-
<br />ments shall be forthwith deposited by the ~4ortgagor with the Mortgagee upem demand by the Mortgages. Any default under this
<br />~taragraph shalt be deemed a default in the payment o[ insurance premiums. If the policy or policies deposited are such as hume-
<br />01 owners or all risk policies, and the deposits 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 :4forigagor under the ahoy paragraph, may, at the option of the Sfortgagee, he held by it and
<br />rnmmiagled 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 unpaid balance of the mortgage indebtedness.
<br />Tv procure, deliver to. and maintain for 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 insurable
<br />ltararda, casusltiea, and contingencies as 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 pavahle clause in favor of and in form accentahle to the Mort¢a-
<br />gee. In the event any policy is not re Hewed on nr before ten days of its expiration, the Aiortgagee may procure insuranrn on the
<br />improvements, pay the premium therefor, sod such sum shall become unmedtately due and payable with interest a! the rate set
<br />forth in said note anti! paid and shall f>E= ,ecurrd by this mortgage Failure nn the part of the Mortgagor to furnish such renewals
<br />as are herein required or failure to pay anp sums advanced hereunder shall, ai the option of the ltfortgager, constitute a default
<br />ttndet the terms of this mortgage. The delivery of =_ucF, policies shall, sn the event of default, constitute an assignment of the un-
<br />earned premium-
<br />Any sacra received by the hfortgagre by reason of loss nr damage insured against may be retained by the Mortgagee
<br />and applied towart3 the payment of the debt hereby secured, nr, at the option of the Aiortgagee, such sums either wholly ur in
<br />part may he paid over to the Diongagur to be used to repair such buildings ar to build'new buildings in their place or for any
<br />other purpose or objets satisiadun• to the Mortgagee without affeMing the lien on the mortgage for the full amount sera red here"
<br />t'ry before such payment ever took place.
<br />To promptly repair, restate nr rebuild a Buildings or improvements now ur hereafter on the premises which may he-
<br />ivme damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic's lien or otF.er lien or
<br />claim of lien trot expressly subordinated to the lien hereof: not to suffer ur permit any unlawful use of or any nuisance to exist on
<br />said ptnperty nor to permit waste on said premises, nor iv do any other an whereby the property hereby conveyed shalt become
<br />Itus valuable, exec W drmini~t or impair its value by any act yr omission to act: to cnmph with all requirements of law with respect
<br />to the rrwrrg~aged premises and the use t}rer•roi-
<br />Tlsas should the premises yr any part thereof be iakrn or damaged by reawn of any public improvement ar cnndem ration
<br />proceeding, or under the right of eminent dorrrain, nr in any other manner. the 1lortgagrs• ,hail be entitled to all crrmpensatsans,
<br />awatvts, and any other paymenf or relief Iherrfor. and s}sall Ir entitled, at its optrnn. t+. cs~:nr+.:= nce, appear in and prosecute sn =ts
<br />own name any action yr prvteeding, ur [u make any mmprumise or settlement in connection xith such taking or damage- All such
<br />aanpenaation. awards, damages., right cf action and pmcee[fs are heret;y assigned to the 'viortgagee, who may, after deducting
<br />irrerefiom ail its expenses. release any moneys so received 6y ii or apply the wine on any- indehtedne-ss secured hereby. The 1binrt-
<br />gt(rgor agrczs to etexute such further assignments of any rnmpensatron, awards, damages, and rights of action and protwe[!s as the
<br />ASorttagee may regrtare.
<br />That ra cane rd frulsur to perform any of the anenants hereto, the :tlortgager may do vn file ?sfvrtgagnr's i~ehalf rvervthing
<br />so eoveoaated; that tine Mortgagee may assn do any act rt may germ nett•xsa n to protrci the lien thereof: that the liortgagor will
<br />repay open drrnand any Honeys paid nr ds.hv rsrd b> the :lfortgage~r fur any of the aM+ve purposes. and such monry~ together with
<br />3itterist thereon at the rate prrn"ided in sand note- shall trcame sc much acidstsonat indebted Hess hereby secured and may he in-
<br />tinded In any decree foreclosing this mortgage and br paid out of the rents or proceeds of sale of said premises if net otherwise
<br />paid; tirai it shelf riot be obligatory upon dhe A;oxtgagee to inquirn into the va7Sdity of any lien, encumbrances, er claim in ad- '
<br />rarreitrg moneys as above suilwrized, lwt nothing herein cuntatned shall be ccuntrued as requiring the Mortgagee to advance any
<br />tnvntys for an}- saris purpose oar to do any act h--rreunder sod thst MvrtgaKee shalt not inr•ur env persnnai-habitity because of any-
<br />thirtg it may do ar omit to do hereunder.
<br />In the avast of the default by Sfortgagor in the payment of auy inslsllment as required by the Notr secured hereby, or
<br />nn the perforanarrce of the c{ttigation in this mortgage yr is file note secured thereby, the Aiortgagee shall he entitled to declare the
<br />debt secured hereby dire and payable without notice, and the Mvrigagee shall br entitled at its option, without notice, either try itself
<br />or bS a receiver to be appointed try the cturi thereof, and without regard is the adequacy n( any security for the indebtc-dnrts se~
<br />Cured thereby, to eater upon and take ptrsessiua of the mortgaged premises, aril !o collect and. receive the rents, tssue•s artd prufi is
<br />titetett~ sad apply the satire, less copes aE operation and collection, upon the ittdebizdnesa secured by ibis mortgage. said rents,
<br />arx! ptr~ta beigg.herebp astegnvd to the Mortgagee as further security for the pa}-mint of all indebtedness secured hereby
<br />- Tire Itiortga~ee chaff leave the power to appoint any agent yr agents it may desire for the purpoar r+f rrpatring sand erem-
<br />ites: rtnttang tl~ same: cnllerting the Hants, revenues and inarome, and it may pay out o{ t:aid income all expenses irsrurrrd in rent-
<br />ing sad rtpsnaging lire setae and of cdlecting the rentals therefrom The balance remaining, d any, shalt lw~ apphed toward the
<br />diaefurge of the atoi'tstt$a iadebtedaeaa. This arraignment is to terminate and bec<ur+e null and void upon release of thix mortgage.
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