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THF. MORTGAGOR FURTHER COVENANTS AND AGREES:
<br />That the Mortgagor will pay the indebted ress as herrinlv~fom provided.
<br />That Ute Mortgagor is the owner of said property in fee simple and has good right and lawful authority to sell and
<br />mnvey the same and that-the same is free and dear of any lien or encumbrance; and that Mortgagor will warrant and defend the
<br />title to said premises against the claims of alt persons whomsoever.
<br />To pay immediate[y,when clue and payable all gaiieral taxes, special taxes, special assessment. water charges, sewee serv-
<br />ice charges, and other taxes and charge9 against said property, and all taxes levied on the debt seen red hereby, and to furnish the
<br />Mortgagee, upon request, with the original or duplicate receipts therefor. The Mortgagor agrees that there shall he added to
<br />O each monthly payment required hereunder or under the evidence oC debt secured hereby an amount estimated by the Mortgagee
<br />to be su6tcient to enable the.-Mortgagee to pa-v, as they become due, all taxes. assessments, and similar charges upon the prem~
<br />ices subject thereto; any deficiency because of the insufficiency of such additional payments shall he forthwith deposited by the
<br />Mortgagor wx#h tyre Mortgagee" upon damLrd by the Mortgagee. Any defar;lt under this paragraph strati be deemed a default in
<br />payment of lazes, assessments, or similar -charges required hereunder-
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<br />The Mortgagor agrees that there shall also be added [o each monthly payment of principal and interest required here-
<br />'l under an amount estimated by the Mortgagee to be sufficient to enable the hinrtgagrre to pay, as it becomes due, the insurance
<br />prenvum an any msu ranee policy delivered to the Rortgagee. Any deficiency because of the insufficiency of such additonal pay-
<br />(~ moot shall be forthwith deer>sited by the Mortgagor with the Mortgagee ulwn demand by the Mortgagee. Any default under this
<br />,_ paragraph shall be deemed a default in the payment of insurance premiums. If the policy nr policies deposited are such as tmmr-
<br />owners or all risk policies, and the deposits are insufTicient 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 Mortgagor under the above paragraphs may, at the option of the Mortgagee, be held by it and
<br />commingled 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 fur the unpaid balance of the mortgage indebtedness.
<br />To procure, deliver to, and maintain for the benefit of the Mortgagee during the life of this mortgage original twlicies and
<br />renewals thereof, delivered at bast ten days before the expiration of any such policies, insuring against fire and other insurable
<br />hazards, casualties, and tronkingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br />Mortg~a and in companies acceptable ter the Mortgagee, with loss nayahle clause in favor of and in form acceptable to the htortxa-
<br />gee. In the event any policy is net renewed un ar before ten days of its expiration, the Mortgagee may procure insurance on the
<br />improvements, pay the premium therrtor, and such sum shall become immediately due and payable with interest at the rate srl
<br />forth in said note until paid and shall be second by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />as are herein required or failure to pay any sums advanced hereunder shall, at tke option ut the Mortgagee, constitute a default
<br />under the terms of this mortgage- The rleliaen• d such Iwlicies shall, in the event of default, constitute an assignment of the un-
<br />earned premium.
<br />Any sums received by the lfartgagee by reason of loss or damage insured against maybe retained by the Mortgagee
<br />and applied toward the payment of the debt hereby secured, or, at the option of the M1tortgagee, such sums either wholly or in
<br />part may tx: 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 satisfactory to the Mortgagee without affecting the lien on the mortgage for the full amount secured here-
<br />by before such payment ever took place.
<br />To promptly repair. restore or rebuild any buildings nr improvements now ur hereafter on the premises which may be-
<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 lien not expressly subordinated tp the lien hereof; nn[ to su fter or permit any unlawful use of or any nuisance to exist on
<br />said property nor to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shalt tx+come
<br />leas valuable, nor to diminish or impair its value by any act or omission to act, to compl} with a!I requirements of law with respect
<br />to the mortgaged premises and the use thereof.
<br />That should the premises ur any part thereof he taken ur damaged by reason of an> t,ubhc improvement or condemnation
<br />proceeding, or tinder 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 shalt be en fitted, at it option, to commence. appear in and prosecute in it
<br />own name any action ur proceeding. or to make anv compromise or settiemert in rnnnection with such taking or damage..411 such
<br />compensation, awards, damages, right of action and proceeds are hereby assigned to the Mortgagee, who may. after deeluMing
<br />therefrom all iU-, expenses, releases any moneys so received by it or apply the same ua any itdebtedness secured hereby. The lNnrt-
<br />gtsgor agrees to r, aettGe such further assignment-c of any campensatton. awards, damages- and right nC action and proceeds as the
<br />Mortgagee may require.
<br />That in case of failure to perform any of ihr covenants hereto, the \Iortgagce may do on the Mortgagor's behalf everything
<br />so cavenartted; that the Mortgagre may also do any act it may deem necessary to protect the lien thereof; that the MuN.gagor will
<br />repay upon demand any moneys paid nr disbursed by the Mortgagee for any of the abo.•e purposes, and such moneys together with
<br />interest thereon a[ the rate prrn'ided in said note shall become sn mach addrtonal indebtedness hereby secured and may he in-
<br />eiuded in any decree foreclr%ing this mortgage and tee paid cwt n{ the rents nr proceeds of sale of said premises if cwt otherwise
<br />paid; that it shall not be obligatory upon the Mortgagre to inquire into the +alidity of any- lien, encumbrances, nr claim in ad-
<br />vancing moneys as above authorized, but not tang herein c,:rntarneri shalt tee cc+nstrued as requiring the Mortgagee to advance any
<br />moneys for any such purpose nor to do any art hereunder. and that MorigatLrr shah tint incur any persvnal liability because of any-
<br />thing it may do or omit to do hxreunder-
<br />In the event of the befault by Mortgagor in the payment of any installment, as required try Che Note secured hereby. or
<br />in the perfotmartce of the obligatum in rhea mortgage ur in the note secured thereby, the Mortgagee shall be entttled to declare the
<br />debt secured hereby due aad payable witlxntt notice, and the Mortgagee shall }n. courted at rL option- without notirn, either by itself
<br />or by a reereivez to be appointed try tree court ihrrwsf. and w~tthou[ regard 5~~. the adequacy of any secu city tnr the indebtedness se-
<br />eured haerefay, tit enter upon and take In: vsessiarn of the mortgaged premises. and to collect and re a~rve the rents, issues and profits
<br />thereat, and apply the same. Jess coals of operation and cotlecfiun. upon the indebted Hess sh•cu red by this mortgage, said rents,
<br />issues and pro5ts being hereby assigned to the Mortgagee ac further vecurity for the payment of all indebtedness secured hereby.
<br />TPte Mttrtgagce adtal9 F+ar /he power !o appoint any agent or agents it n`my desire for the purpose of repairing said prem-
<br />ises, ren4ng the same; rnllerling the rents, revenues and income, and it tray pay out vt said int•orrte a1L expenses incurred in rent-
<br />ing and managing the same and of collecting the rentals therefrom The balance rrmaimng, if any. shat) F,r applied toward the
<br />discharge of the mortgage indebtedness. This assignment is to terminate and become null and void u{wn release of this mortgage.
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