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TF[E MORTGAGOR FURTHER COVENANTS ANP. AGREES:
<br />That the Mortgagor will pay the inrk•Medness as hereinhefnre pnrvided.
<br />it-6•
<br />Thal the Mortgagor is the owner oP said property in fee simple and has good right and lawful authori.p tr, sell and
<br />convey the same and that the same is free and clear of any lien or encumbrance; and that Mortgagor will warrant. and defy. nrl the
<br />title to said premises agait~t-tim claims of ail persons whomwrever.
<br />To pay-immediately when due and payable at[ general taxes, special taxes, special assessment, water charges, sewer serv-
<br />ice charges, amt other fazes and charges against said property; and alt taxes levied on the debt secured hereby, and to furnish the
<br />Mortgagee, upon. request, with the original or d-upbeats receipts therefor. The Mortgagor agrees that there shaft be added to
<br />each monthly payment required hernunder nr under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to be sudtaent to enable the Mortgagee to pay, as they bernme due, alt taxes, assessments, and similar charges upon the prem-
<br />ises subject !hereto; any deficiency because of the insufficiency of such additional payments shall he forthwith deposited by _the
<br />Mortgagor :F-ith tla>-hfcxittggay-e€ upon-demand b}' the hloztgagee. Ahy default under this paragraph shalt t)r deemed a rlefault.in
<br />payment of faxes, assessment, nr similar charges required hereunder. -
<br />The Mortgagor agrees that •l)rre shalt also be added to each monthly payment of principal and interest required here-
<br />under an amourni estimated by the ~Ioi•_gagee to be sufficient to enable the Mortgagee to pay, as it becomes due, the insurance
<br />~-• premium on any itvsu ranee policy delivered to the Mnrt gages. Any deficiency because of the insuRiciency of such additional pay-
<br />meet shall Fx• fartt)with de{xxsrtrd hg the tortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br />~ Paragraph shall bP deemed a de[auli en the payment of insurance premiums. I( the policy or policies deposited are such as hume-
<br />owners or all risk policies, sod the deposit are insufficient to pay the entire premium, the Mortgagee may apply tie deposit to
<br />pay premiums on risks required to be insured by this mortgage.
<br />' Payment made by the Mortgagor under the above paragraphs may. at the option of the Mortgagee, beheld-hy i[ and
<br />~ commingled with other such funds or its own funcL fur the payment of such items, and until so applied, such payments are hereby
<br />pledged as security for the unpaid balance o[ the mortgage indebtedness.
<br />To prcx-ure, deliver to. and maintain fur the benefit of the Mortgagee duel :g the life of this mortgage original {x)f isles and
<br />renewals thereof, delivered at least ten days t)etore the expiration n{ any such policies, insuring against fire and other insurable
<br />hazards, casualties, and contingencies as the Mortgagee cony require, in an amount equal to the indebtedness secured by this
<br />Mortgage, and in companies acceptable to the Rinrtgager. with loss payable clause in favor of and in form acceptable to the Jfortga-
<br />qee. In the event any policy is not renewed on or before ten days of ies expiration, the Morfgagee rosy' Proeure insumncr on the
<br />improvements, pay the premium therefor, and such sum shall become immediately due and nayable with interest at the rate set
<br />forth in said note until paid and shall tie 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 sha'1. at the option of the Mortgagee, constitute a default
<br />under the terns of this mortgage. The delivery of such p)licies shall- in the event of default rnnstitute 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 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 huiid'new buildings in their place or for any
<br />other purpose or object saiis[actory to the Mortgagee without affecting the lien nn the mortgage for the full amour)t secured here-
<br />by before such payment ever took place.
<br />To promptly repair, restore or rebmid any buildings or improvement now ur hereafter on the premises which may be-
<br />come damaged or destroyed; to keep said premises in good condi Lion and repair and free from any mechanie's lien or other lien or -
<br />ctaim of lien not expressly sut)ordinated to the lien hereof; not to suffer or permit any unlawful use of or any nuisance to exist on
<br />acid property nor to permit waste on said premises, nor to do any other act whereb}• the property hereby rnnveyed shall become
<br />less valttable, nor to dimini~ 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 nr damaged by reason of any public improvement ar crondemna[ion
<br />proceeding. or under the right of eminent domain, or in any other manner- the Sortgagee shad tug entitled :~ al. compensations,
<br />awards. and any other payment or relief therefor, and shat! be entitled, at it option, to commence. appear in and prosewte in its
<br />own name any action or proceeding, or to make any compromise or settlement in connection with such taking or damage. Ail such
<br />compensation. awards, datnages, right of action and proceeds are hereby assigned to the Mortgagee, who may. after deducting
<br />therefrom ail ifs expenses. release any moneys so remived by it or apply the same on any indebtedness secured hereby. The Mort-
<br />-gagor agrees-to execute such furtlter assignment of any compensation, awards, damages, and rights of action and psoceer£s as the
<br />Mortgagee cosy require.
<br />-. That in cage of failure to perform any of the covenant herein, the Alartgagee may da an the Mortgagor's 1)ehait everything
<br />so covenanted; that Lhe Mortgagee may also do any act ii may deem necessary [o protect the Eien thereof; that the Mortgagor will
<br />repay upon demand any moneys paid or d~bu rsed 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 became so much additional indebtedness hereby secured and maybe in-
<br />cluded in any decree foreclaaiog this mortgage oral 1>e paid out of the rent or proceeds of sale of said premises i[ not otherwise
<br />paid: that it shall not ha obligatory upon the Mortgagee to inquire into the validity of any lien, encumbrances, or claim in ad-
<br />vastdng moneys sa above authorized, but nothing herein contained sha21 be construed as zequiring the Mortgagee to advarica any
<br />moneys for any such purpose not to do any aM hereunder; and that Mortgagee shall not incur any persona( liability because of any-
<br />thirrg it cosy do or omit to do hereunder. -
<br />In the event of the default by Mortgagor in Lhe payment of any installment, as required by the Note secured hereby, or
<br />in the perfomurtce of the obligation in this mortgage or in the note secured thereby, the Mortgagee shalt he entitled to declare the
<br />dept secured hereby due and payable without notice, and the Mortgagee shall he entitled at its option, without notice, either by itself
<br />or by a receiver to fie appointed by the court thereof, and withoux regard to the adequacy of any security for the indebtedness se~
<br />cured hereby, to enter upon scut take pos§ession of the mortgaged premises. and to collect end receive the rents. issues and Profit
<br />tbere6f,-(tad -apply the same» less costa pI operation and fu[lection, upon the indebtedness secured 6y this mortgage: said rents,
<br />iiieues and pro8ta being hereby asaigteed to the Moztgagee as further security for the payment of ell indebtedness secured hereby.
<br />'The Mtrtgagee shalt have-the~,power-to appoint any agent or agents it may desire for the purpose of repairing said prem-
<br />iaes: ranting the acme: collecting the rents, revenues and income, and it may pay out of said inrnme all expenses incurred in rent-
<br />ittg and mansgittg the same and of eollectirtg the ren6als therefrom. The balance remaining, if any, shall be applied toward the
<br />dixharge of the nutrt8age indebtedness, This assignment is Yo terminate and become null and void upon release o[ this mortgage.
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