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TkfE MORTGAGOR FURTHER COVENANTS AND AGREES:
<br />That the Mortgagor will pay the indebtedtteas as hereinhefore prrnided.
<br />That the -Mortgagor is the owner of said property in fee simple and has gorxl right and taw(ul authority to sell and
<br />convey the same-and that the same is free and clear of any lien of eycumbrance; and that Mortgagor wilt warrant and defend- the
<br />title to said premises against-tlre claims of ell persons whomsoever.-- -
<br />- To pay immediately-when clue and payable al! ~eireral-taxes, special fazes, special assessments, water charges, sewer see-•-
<br />ice charges, and other taxes and charges against said property, and all taxes levied on the debt secured hereby, and to (u rnish the
<br />Mortgagee, upt)n- request, with ~ttre original or duplicate receipts therefor. The Mortgagor agrees that there shall hr- added to
<br />each monthly payment required hereunder orunder the eviduncr of deist secured hereby an amount estimated by the Mortgagee
<br />to be sufficient foenable. the Mortgagee to pay, as they become due, all taxes, arsessments, and similai charges u{wn the prem-
<br />ise_-subject-thereto; any de&ciency lwcause of the insufficiency of such additional Payments shall he forthwith depnsUcd by the -
<br />Mgrteagor with, the Mortgagee upon riemend by the Mortgagee- Any de(aalt under this paragraph shat be dr-emerl a rletaulf Ls
<br />payment of taxes, assessments, or similar charges reyuired hereunder.
<br />The Mortgagor agrees that [hare shall also Im added to each rnunthly payment of principal and interest reyuired here-
<br />under an amount estimated by Lhe Mortgagee to 6e sufTicient to enable the Mortgagee fo pay, as it becomes due, the insurance
<br />- -premium on any insurance pcsliey delivered to the Mortgagee. Any deficiency Ix•cauce u( the msuffmiency of such additional pay-
<br />~_ menu shall he forthwith deposited by the Mortgagor-with the Mortgagee upon demand b7 the 'Mortgagee.:>ny default under this
<br />J paragraph shall he deemed a default in the Payment of insurance premiums. If the pnlicv nr policies deposited are such as hr~me-
<br />owners nr ail risk policies, and the deposits are insu(ficicnt to pay the entire premium, the lfnrtgagee may apply the dr;x,.-it to
<br />1 pay premiums nn risks reyuired to be insured by this mortgage.
<br />~ Payments made by the ivfurtgagor under the above paragraphs may, at .the option of the Mortgagee- tin held by it and
<br />~ commingled with other such Funds nr its own funds for the payment of such items, and until so applied, such payments are hereby
<br />pfcriged as security (or the unpaid balance of the mortgage indebtedness.
<br />Tn procure, deliver [u, and maintain for the benefit of the :Mortgagee during the life of this mortgage nri gloat polirie•s and
<br />renewals thereof, delivered at least tart days lx'fore the expiration of any such pnlic•ies, insuring against (ire and other ursurable
<br />hazards, casualties, and r+ntingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br />aee~.a a.,se and in ..n:.,,,a.,:e~ nr....,,r:,bl> fn th,. Lf.,.rraorn ~.~;;h loss rrav 2hl.• rlai,-ep in favor o_f anti . , fn ntahl:. ;., fh.. 4fr,rr-g
<br />gee- In the event anyef rlrcy~is nut renewer! nn or ixlore ten da- of its expiration. the A4orf.gagee ma}• prone ne insurance nn the
<br />improvements, pay the premium therefor, and .curb =um shall become immediately due and payable with interest at the rate art
<br />forth in said note until paid and shall Lr .K•cu red hr this mortgage. Failure nn the part ut the Sortgagor to furnish such renewal
<br />- as are herein required or failure to pay any sums advanced hereunder shall, at the option of the Mortgagee. constitute a default
<br />' under the tetxns of this mortgage The delivers n[ .each policies shall, :n the event of default, constitute an assignment of the un-
<br />-earned. premium.
<br />Any sums receive, by the M13ortgagee by reason of loss ur damage insured age nsf may he retained by the Mortgagee
<br />and applied toward the payment of the debt hereby secured, or, at [he option of Lsr bf ortgagee, such sums either wholly or in
<br />- part may }re paid over io the Mortgagee 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 MnrY-gages without affecting the lien nn the mortgage for the Cull amount securer! here-
<br />_ by before such payment ever conk place.
<br />To promptly repair, restore or rebuild any buildings or improvements now or hereafter nn the premises which may be-
<br />come damaged or destroyed; to keep said premises in good mndifion 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'Fx emit any un;awful use of or any nuisance to exist on
<br />said property nor to permit waste on said premises, nor to do any other act u~herehc the property hereby conveyed shall become
<br />Tess valuable. nor Lo diminish or rmpair its value by any act or omission to act , to comp!} w-ith all requirements of taw with respect
<br />to [he mortgaged premises and the use thereof. -
<br />That should the premises or any part thereof }k taken ur damaged by reason of any public improvement or condemnation
<br />proceeding, or under the right of eminent domain, or in any other manner. the Mortgagee shall be entitle.'. to a!1 mm{rensatiorvs,
<br />awards, and any other payment or relief therefor, and shat be entitled, at its option. to commence, appear in and prrav rote in its
<br />- own name any action or proceeding, ~r to make any compromise or settlement ir, ronnectinn with such taking or damage. Alt such
<br />compensation,. awards, damages, right cf action and proceeds are hereby assigned to the Mortgagee, who may, after deducting
<br />t.~eseftom all its expenses, release any moneys sa received by it or apply else same art any indebtedness secured hereby. The Mort-
<br />- - gager-agrees to execute such fwther assignments of any compensation, awarrLs, damages, and rights of acfion and proceeds as the
<br />Mortgagee. may require.
<br />That in ease of failure to perform any of the cotenants herein. the Mortgagee may do on the Mortgagor's behalf everything y '
<br />so Covenanted; that the Martgagee may also do anY act it may deem necessary to Protect the lien thereof; that the Mortgagor will s.--.
<br />- repay upon demandany moneys paid or disbursed by the 1Mortgagec for any of the above purposes, and such moneys together with ~-
<br />inteteat thereon at the rate provided in said note shall became so much additional indebtedness hereby secured and may he in- tom;
<br />eluded in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sate of said premises if not otherwise
<br />- paid; that it shall not be obligataty upon fhe Marigsgee to inquire into the validity of any lien, encumbrances, ur claim in ad-
<br />vtmciirg moneys-as above authorised, birt nothing herein contained shall be construed as requiring the Mortgagee to advance any ~--
<br />tmuseysfva say sttrh purport nos to da ary act tremunder; and that Mortgagee shalt noti incur any personal liability because of any-
<br />- thug it may do or omit to do-hereunder.
<br />In the event u[ the default by Mortgagor in the payment of any instatlrnent, 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 eniitfed to declare the
<br />debt setvreci hereby due and payable without notice, and the Mortgagee steal! be entitled at its option, without notice. either by itself
<br />or by a mceiver to 6e appointed try the court thereof, and without regard to the adequacy of any scarify for the indebtedness se-
<br />eured-heselry,-to enter upon and take possession o'f fhe marfgaged premises, and to collect and receive the rents, issues and profits
<br />.there; arnl apply the same, Jess costs of operation and callrtion, upon the indebtedness secured by this mortgage; said rents,
<br />- it~ies creel preRta 6eiaghemby assigned Yo the Mortgagee as-farther security for the payment of alt indebtedness secured hereby.
<br />The Mortgagee ahalC have the power to appoint any agent or agents it may desire for the purpose of repairing said prom-
<br />- ,tees:. renting the saint: ooflacting the mats, revenues and income, and it rosy pay out of said income all expenses incurred in rent-
<br />ittg, artd matragitig tare" same era! _m collecting the motels therefrom. The balance remaining. if any, shall Fse applied towarcl the
<br />-discharge-of the'-mottYage indebtedness.. This assignment is to terminate and become null and void upon release of this mortgage.
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