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<br />THE MORTGAGOR FURTHER t~VENANTS AND AGREES:
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<br />That the Mortgagor will pay the indebtedness as hereinbefore provided.
<br />That the Mortgagor is the owner of said property in fee simple and has good right and tawh:! authority to sell and
<br />rnnvey the same and ihaS the same is flee and clear of any lien or encumbrance; and that Mortgagor will warrant, and defend the
<br />r title to said premises against the claims of all persons whomsoever.
<br />To pay immediately when due-and puyable all pznerpl.taxes, specter taxes, spec-ial assessments, water charges, sewer serv-
<br />ice charges, and other taxes and charges against said property
<br />and alt taxes levied on the debt s+; ured hereby, and to furnish. the
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<br />Mortgagee, upon request, with the original or duplicate receipts therefor. The Mortgagor agmrs that there shall he added to
<br />each montlay payment required hereunder or under the evirlenco of dzht secured hereby ar: e.^.-x:unt rstintated by the Mortgagee
<br />~tn be suffirienE,to enable the Mortgagee to pay, as they become due, all taxes, assessments, erect ..<imilar charges upon the prem-
<br />~ises subject thereto;-any deficienc}•-because of the i; sufficiency of such additional payments .halt he (erthwith deposited by the-
<br />Mortgagvr with the Mortgagee upon demand by the SSortgagee..4 ny da(ault. under Yhi. pa rq; raph .hall he doemerl a default in
<br />payment of taxes, assessments, nr similar charges nrgw red hereunder.
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<br />~ under an amount rstimatect by the Mortgagee to be sufficient to enable the Mortgagee to pay, a. it becuntec due, the insurance
<br />~ premium on any insurance policy delivered [o the Mortgagee. Any deficiency fx•causr uC the imuRriency of such additional pay
<br />meet shall be forthwith depcrcited by the Mortgagor with the Mortgagee u(wn drm,md he rho Mortgagor. Any drfauit under this
<br />pa{agraph shall be deemed a default in the payment of insurance premiums. If the lx,licy or policies deposited err such as home-
<br />owners wall risk policies, and the delx>si6- are Insufficient to pay rho .m_,m premiutq the 'atnrtgagre mac apply the d.-posT to
<br />pay premmms on risks required to bz insured by this mortgage.
<br />Payments made by the Mortgagor under the ahoy paragraphs may, at thc• r>ption of the Mortgagee, hr held by it and
<br />commingled wish ether such Eunds or its own funds for tF.e payment n( such items, and until sn applied, such payments are hereby
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
<br />T4 procure, deliver to, and maintain for the twnefit „f rho ~Urrtgagee during the 3ife r>f this mortgage original Pr,l:rre: and
<br />renewals thereof. delivered at least ten days before the e~pi raunn ,~.f any such policies, insuring against rim and other insu rah[e
<br />hazards, casualties, and contingencies as the Mortgagee may require. in an amamt equal to the indebtedness secured by This
<br />Ydortgage, and in companies acceptable to khe Mortga;;e:•, xith 1r„s pa. able clause +n favor of amt in 6trm acceptaMr to the ttnrtga-
<br />gee. In the event ant Imliry is not renewed un or Ix•(orr ten +iacs of iL< exl?iralinn, the Mortgagee may pttrcu re insurance un the
<br />improvemeets, pay the premium therefor, and wch sum shall 1kY one unmediah•h~ due and payah)r with interest at the rate set
<br />forth in said note until paid and shalt be sr-cured by this mnrtgagr. Failu.-r on the part of the Sortgagor to Furnish such renewals
<br />as ar herein required ur failure to pay any sums adcam-ed hereunder shall. at the option of the 34ortgagw•, constitute a dr(ault
<br />under the terms of this mortgage. The delivery of wch pnlu•re~s shalt. .n the Brent of default, constituie-~an~dssrgnmrnt of [he un-
<br />earned premium.
<br />Any sums received by She ~Sortgager by reasor, of f.s- +>r damage msu err against mar M' r<>tained by the Vturtgagee
<br />and applied toward Lhe pa}menE of Lhe debt hereby ~1-cured. or. at the rptum of the Mortgagee. such wins ritfier w4u:lty ur in
<br />part ma}• be paid over to the Dortgagor i=, be used to re~pa~r such buildings or yr h;:ild'new bwldings in their place ur for any
<br />other purpose of object satisfactory !n th. M.:rt gagre u"rih:,ut atTrtting the ogre ,m th~• core.-tgagr for the fu1! ana:a ni aecu rorl here-
<br />by before such payment ever took place.
<br />To pr rmptly repair, restore ur rebuild any buildings or :mpro+rmenlx nux- or hrrraftrr on the premiK>s which may be-
<br />come damaged or destroyed: to keep said premises in good conrli tie,n and rrpa:r and tree from any mechanic s Gen or other lien or
<br />claim of lien not expres-ly subordtnatrd to the lien hereof: not to wHer ur lx•rmtl any un}aw"(ul use of or any nuisance to exist on
<br />said property nor to permit waste on said premises, nor to du any ether alt whereby the property hereby conve}•zd shall become
<br />'ems aluable, nor to diminish or impair it value by any act nr omission to art: iu comp!} with all requi cements of law with respect
<br />to the mortgaged premises and the use thereof.
<br />That should the premises or anc part thereof tx> taken nr damaged hr reason of anc puhhc rmpro+~emrnt or condemnation
<br />proceeding, or under the right of emittent domain, ur in any other manner, the \torigagee shall tee entttied to all compensations,
<br />awards, and env other payment or relief therefor. and shall be entitled. at its option, m commence. appear in amt prosecute in its
<br />own name aop action oe proceeding, er Yo make any compromise or settlement in connection with such taking or damage. All such
<br />a+trtpeasmtioa, awards, damages, right-of action and proceeds are hereby assigned m the Mortgagee, who ma}•, after deducting
<br />tlferefxrni aII its ezpenses, release any moneys so received by it or apply the same un any indebtedness secured hereby. The ,vlort-
<br />gagar agrees fio e:ecate such further assignnrenta of any compensation. awattis, damages, and tights of action and praceels as the
<br />Mortgagee mat require.
<br />That in case of irilure to pedotm any of the rovenan Cs herein. [he Mortgagee may rio on the Mortgagor's behalf everything r~y
<br />so covenanted; that the Mortgagee may also do any act it may deem necessary to protect thz 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 is said note shall became ;o much additional inr3ehtedness hereby secured and may 6e in-
<br />eluded in any decree ioredosing Lhis awztgage and be paid gut of Lhe tent or prrueeds 4f sale of said premises if rent otherwise ~..
<br />paid; that it shall not be obdigatary upon the Mortgagee to inquire into the validity of any lien, encumbrances, or claim in ad-
<br />vatteirrg Sys m about aut~iozized, but notbing herein contained shalt be construed as requiring the Mortgagee io advance any
<br />- tnasteya for any-srreh purpax rmr to der any act herriinder, and that Mortgagee shall rot incur any perwnai liability because of any-
<br />t>~st may. do or wait W do hereander- -
<br />In the Brent of the default by Aiorigagor in the payment of any installment, as required by the Note secured hereby, or
<br />is the perforrr,ar~> of the abligatian in this mortgage or in the note secured thereby, the Afertgagee shall be entitled to declare tfie
<br />dtrfit eecitred hereby due amt payalile without notice. and khe Mortgagee shall he entitled at ifs option, without nrtice, either by itself
<br />of by a recover to rte appointed by the court thereof, and without regard to the adequacy of any security for the indebtedness se-
<br />cured ~Y, to"rater upon and take pa~skea.ion oI the mortgaged premises: and to collect and receive the rents, issues amt profits
<br />Noeteot. and apply ~ same: less costa of operation and collection, upon the indebtedness secured by this mortgage; said rents,
<br />istre'i and profN.s being hereby aa~gned to the Mortgagee as further security for the payment of all indebtedness secured herehy-
<br />The Mortgagee shall have the po: er to appoint any agent or agents it may desire for the purpose 4f repairing said prem-
<br />ises; renting the atspte; ootlectin6. fire yenta, revenues and incortte, and it may pay out of said inrnme all expenses incurred in rent-
<br />irra and msnsting the a®te and of collecti.og the rentals Therefrom- Tice balance remaining, if any, shall be applied toward the
<br />~+rit of the mortga=t ittdebtedrumn, This assignment is to terminate and become null and void upon release of this mortgage.
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