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<br />THE MORTGAGOR FURTHER Ctl~VENANT9 AND AGREES:
<br />That the Mortgagor will Pay the indebtedness as hereinlxdore orrwided. -
<br />That the-Mortgagor is the owner of said property in fee simple r~5'~d'has ~ood right and lawful authority to se{t and
<br />convey the same and that-the same is free and Near of any Tien ar encumbrance: and that Mortgagor wilt warren*_ and defead tine
<br />title to said premises against the Maims n( a!1 parsers whomsoever.
<br />To pay iumediately -when clue and payable all general lases, special taxes, special assessments, water charges, sewer serv-
<br />ice chargesi and other taxep and charges against said property, and all taxes levied on the debt secured hereby, and to furnish the
<br />Mortgagee.upon. request, with the ~otiginat or duplicate receipts therefor. The Mortgagor agrees that there shall be added to
<br />each monthly payment required hereunder nr under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to be suffiraent to enable the Mortgagee to pay, as they become due. al9 taxes, assessments, and similar charges upon the prem-
<br />t,es subject thereto;,,anY deficiency because oI the insufficiency of such additional payments shall be forthwith deposited by.the _
<br />Mortgagor with rite.;Mortgagee -upon demand by the Mortgagee. Any default under this paragraph shalt be deemed a default in
<br />- payment a[ taxes, asvessmerits, or similar charges required hereunder.
<br />{jy The Mortgagor agrees -that there shall atso 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 becomes due, the insurance
<br />~ premium on any insnrance policy delivered to the Mortgagee. Any deficiency because n( the insufficiency of such additional pay
<br />menu shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee Any default under this
<br />J. paragraph shall be deemed a default ip the payment of insurance premiums. If the policy or policies deposited are such as hnme-
<br />-~ owners or ell risk policies, and the deposits are insu!&cient 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 />01 Payments made by the Mortgagor under the above paragraphs may. et the option of the Mortgagee, he 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 payment are hereby
<br />pledged 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 of least ten days before the expiration 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 />- Mortgage, and in companies acceptable to the Mortgagee, with lass payable clause in favor of and in form acceptable to the bfortga-
<br />gee. In the event any policy is not renewed on or before ten days of its expiration, the Mortgagee may procure insurance on the
<br />improvements, pay the premium therefor, and such sum shat[ become immediately due and payable with interest at the rate art
<br />forth in said note unfit paid and shall be ,ecu red 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 defeat!
<br />under the terms of this mortgage. The delivery of such policies shall, in the event of default, constitutor an assignment of the un-
<br />earned premium.
<br />Any sums received by the Mortgagee by reason of loss or damage insured against may be retained by the Ivtortgagee
<br />and applied toward [he 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 tar any
<br />other purpose or object satisfactory to the Martgagee without affecting the lien nn the mortgage for the toll 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; fo keep said premises in good rnndition 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 softer 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 />leas valuable, nor to diminish or impair its value by any act or omission to act; to comply with ail 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 reason of env public improvement or condemnation
<br />proceeding. or under the right of eminent domain, or in any other manner. the Mortgagee shall Fx- or.ta!ed to all rompensa[ions,
<br />awards, and any other payment or relic[ therefor, and shall be entitled, at its option, to commence, appear in and prosecute in its
<br />own name any action or proceeding, or to make any compromise oc settlement in connection with such faking or damage. Ail such
<br />txxrrpensetion, awards, damages, right of setior. and proceeds are hereby assigned to the Mortgagee, who may, after deducting
<br />therefrom all iffi expenses, release any moneys so rereived by it or apply the same on any indebtedness secured hereby. The Mort-
<br />gagor agrees to execute such further assignments of any compensation, awarris, damages, and rights of action and proceeds ac the
<br />Mortgagee may require.
<br />That in case of failure to perform any of the covenants herein, the Mortgagee may- do nn the ;Mortgagor's behalf everything
<br />so covenanted: that the Mortgagee may also do any act it may deem necessary to protect the lien thereof: that the Mortgagor will
<br />repay upon demand any moneys paid or disbursed by the Mortgagee for any of the atwve purposes, and such moneys together with
<br />interest thereon at the rate provided in said note shalt become so much additional indebtedness hereby secured and may he in- -
<br />ciuded in any decree foreclosing this mortgage and be paid out of the rents cr proceeds of sale of said premises if not otherwise
<br />paid; that it shalt nM be obligatory upon the Mortgagee to inquire into the validity of any Lien. encumbrances, or claim in ad-
<br />- vanning mmteya as above authorized, but nothing herein contained shall be construed as requiring the Mortgagee ti+ advance any °,
<br />- tnoneys for any such purpose roc to do any act hereunder: and that .Mortgagee shall not incur any twrsunal fiabdity h.•cause of any-
<br />thing it may do or omit to do hereunder. '"'
<br />- In the event of the-default by Mortgagor tat the-payment of any installment, as required by the Note secured hereby. or
<br />in Lire perforsnartce.ot the obligation in this mortgage ar in the note secured .thereby, the Mortgagee shall be entitled to declare the ,,,.
<br />- debt secured hereby due and-dyable w[thtwt notice, and the Mortgagee shall be entitled aY ifs option, without notice, either by itself '. ,
<br />ar by a receiver to-be appointed by the court thereof. and without regard to the adequacy of any security for the indebtedness se-
<br />cured hereby, to enter upon and take possession of the mortgaged premises, and to collect and receive the rents, issuer and profits
<br />thereof, and apply the. same, less coats of operation and toi2ection, open the indebtedness secured by this mortgage: said rents,
<br />issues and profits being hereby assigned to the Mortgagee as further security for the payment of all indehtednesss secured hereby
<br />- The Mortgagee shall have the power to appoint any sgeat or agents it may desire for the purpu+e of repairing said ryrem-
<br />ixs; renting the same: rnllecting the rents, revenues and income, and it rosy pay out of said income all expensesrrecttrred in rent-
<br />irtg anti managing the same and. of collecting the rentals therefrom. The balance remaining, if any, shall be applied toward the
<br />discharge o[ the. mortgage indebtedness This assignment is to terminate and Mcome null and void upon release of this mortgage.
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