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TkfE MORTGAGOR Fi1RTHER COVENANTS AND AGREES:
<br />That the Mortgagor will pay the indeMedness as hereinM~fore provided.
<br />That the Mortgagor is the owner of'said, property in ter. simple a~d"htts food right-and lawful authority !n sail and
<br />convey the same snd'that tbe-same~is free and clear oCany tiers or encumbrance; and that Mortgagor will warrant and defend the
<br />title to said premises agaitiat-tl3e.i3aims of alt persons whomsoever-
<br />To pay"itnsaediately ~syhen due apd.paysble all general taxes, special taxes, special assessments, water charges, sewer serv-
<br />ice charges, and other faxes~aivrl cttargea against said property. and all-taxes levied on the deht secured hereby, and to furnish the
<br />Mortgagee,'}tpor[ request„with the-original or duplicate recxipts therefor, The Mortgagor agrees that there shat! be added to
<br />each monthly paymentrequired hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee -
<br />to be auffeient to .enable the MoKgagee to pay, as they become due, all taxes, assessments, and similar charges upon the prem-
<br />ises subject. thereto;, any deficiency 6ecauge -qf, the. insufficiency of such additional payments shall be forthwith depo-sited by the
<br />~ h!nrtgagnr -wtth the -T4orkgagee-`upon 'demand by the Mortgagee- Any itetacilt under this pa ragraPh shall be deemed a rlefaulf in
<br />payment of tales, assessments, nr similar charges required hereunder.
<br />-The Mortgagor agrees that there shall also be added to each monthly payment of principal and interest required here-
<br />>~ under an amount estimated by the Mortgagee to be sufficient to enable the Mortgagee to pay, as it beromes due, the insurance
<br />J premium vn any in-gurance policy delivered to 4he Mortgagee. Any deficiency because -nf the insufficiency of such additions! pay•
<br />menu shat) be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br />- paragraph shall be deemed a default in the payment of insurance premiums. 1f the policy or policies deposited are such as home-
<br />( owners or all risk policies, and the deposits are insufficient to pay the entire premium, the Mortgagee may apply the deposrt 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, beheld-by it and
<br />rommingled with other such funds or its own funds for the payment of such items, and until so applied, such payments are hereby
<br />ptrxfged as security for 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 policies and
<br />renewals thereof, delivered at least ten days before the expiratim~ of any such policies, insuring against fire and other insurable
<br />hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br />Mor*-gas=, ar:d ~~ ^^mnn^:^= acceptable to the hfnrtgagee, with loss payahla rfa~.se in favor of and in form acceptable to the Lfortea-
<br />gee- In the event anyrpolicy is not renewed on or before ten days of its expiration. the Mortgagee may pracu re insurance on the
<br />fmprovemertts, pay the premium therefor, and such sum shall become immediately due and payable with interest at the-rate set
<br />forth in said note until paid and shall be secured 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 the option of the Mortgagee, constitute a default
<br />under the terms of this mortgage. The delivery of such policies shall, in the event of rlefaulf. constitute an assignment of the un-
<br />earned premium.
<br />Any sums roceived by the Mortgagee by reason of loss or damage insured against may be retained by the Mortgagee
<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 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 tali amount secured here-
<br />by before such payment ever took place.
<br />To promptly 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 good rondition and repair and tree from any mechanic's lien or other lien or
<br />dsim csf lien not expressly sutwrdinated io the lien hereof; not to suffer or permit any unlawful use of or any nuisance to exist on
<br />said property oar to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shall become
<br />le® valuable, nor to diminish or impair it value by any act or omission to act; to comply with all requirements of law with respect
<br />to the mortgaged premises and the use thereof.
<br />That should the premises 'or any part thereof be taken or damaged by reawn of any public improvement or condemna8on
<br />proceeding, or under the right of eminent domain, or in any other manner. the ]tort gages shall be entitled to all compensations,
<br />awards, and any other payment or relief therefor, and shall be entitled, at its option, to mmrnence, appear in and prosecute in its
<br />own name any action or proceeding, or to make any compromise or seiflemeat in Connection with such taking or damage. All such -
<br />tziatpettsation, awards, -damages, right of action and proreeds are hereby assigned to the Mortgagee, who may, after deducting
<br />4her2$Uat alt its eopenaes; relearx any moneys ao received by it or apply the same un any ir•.debtedness secured hereby. The Mort-
<br />Eagar-agrees to execute such further assignments of any compensation, awards, damages, amt right of action and proceeds as the
<br />Mortgagee cosy regtrire.
<br />That in case of failure to perform any of the covenant- herein. the .Lortgagee may do on the Mortgagor's behalf everything
<br />so covenanted; that the Mortgagee may also du any act it may deem necessary m proteM the 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 in said note shall become so mac}: additional indebtedness hereby secured and maybe in-
<br />cluded in any decree foreetosing this mortgage and be paid out of the tents or proceeds of sale of said premises if not otherwise
<br />poid;: thst.SL shall not be obligatory upon the Mortgagee Io inquire into the validity of any lien. encumbrances, or claim in ad- >'~+
<br />vancing moneys e9 above authorized. but nothing herein contained shall be construed as requiring the Mortgagee to advance any
<br />rnoneya for any such purpose nor to da any set icereunder: and that Mortgagee shall rat incur ar.v pe rsama! IiabiGty because n! any- - -
<br />thing it nrAydo or omit to do hereunder. ~_y
<br />In the event of the-default by Mortgagor in the payment of any installment, as required by the Note savred hereby, or _.-
<br />~iti the petforraatrce-of the obligation th this mortgage or is the note secured thereby, khe Mortgagee shall be entitled to declare the
<br />debt secured irereby due and payable without notice, and the Mortgagee shall be entitled at its option, without notice, either by itself
<br />or by a receiver to be appointed by the coot! thereof- and without regard 20 the adequacy of any security for the indebtedness ,e-
<br />- -tarred hereby, to enter upon and take possession of the mortgaged premises and to collect and receive Lhe rent,, issues and profits
<br />thereei..-and.apply.the semi:, less costs of operation and colleclion, upon the indebtedness secured by this mortgage; said rent,
<br />issuea;and profits fiei6g hereby assigned to tMi Mortgagee as further security for the payment of all indebtedness secured hereby.
<br />- - - ---The-Mortgagee eiulf have-the power to appoint any agent or agents it may desire for the purpose of repairing said prem-
<br />ises; renting the same; eollectin6 the rents, revenues and income, and it may pay out of said income all expenses incurred in rent-
<br />bt; and managinS >~ same and of collecting the rentals therefrom. The balance remaining, i[ any, shalt br applied toward the
<br />dirhsrze of the mortaaxe indebtedness. This assignment is io Terminate and become null and void upon release ut this mortgage.
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