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<br />THE MORTGAGOR FURTHER C.OVENANT9 AND AGREES:
<br />That the Mortgagor will pay the indebtedness as hereinbefore'~r't~vi:~e~~ ~'' '"'
<br />That the Mortgagor is the owner of said property in fee simple and has good right and lawful authority to sell sort
<br />convey the same seal that the same•ia tree and clear of any lien ur er,$umbrance; and that Mortgagor will warrant and defend the
<br />title to said premises- against the claims o[ all persons whomsoever.
<br />To pay immediately when due and payable all genora! taxes, special taxes, special asw~ssmenl, water charges, sewn serv-
<br />ice charges, and-other taxes and charges against said pro}x^rty, and ail taxes leveed un the debt secured hereby, and to furnish the
<br />Mortgage-e, upon request, with the original or' duplicate receipts therefue. The Mortgagor agree^s that there shat! tx• added to
<br />each monthly payment required hereunder or umier the outdoor«• of debt secured hereby an amount estimated by the Mortgagee
<br />~tu be sufficierzt to -P.nabie-jhe- Mortgagee to pay, as they (x~r;~mr• due, elf taxes, assessments. and similar charges upon the- prem~
<br />ices subject thereto; any deficiency ber'ause of the insulfciencv of such additional payments shall he forthwith deposited by the
<br />Mortgagor with the Mortgagee open demand be the Mortgagee Any default urdcr this paragraph shall be deemed a default in
<br />- ayment of taxes; assessments, nr similar charges required hereunder.
<br />>~.J The Mortgagor agrees that there-shill also he added fu each rnonttdy payment of principal and interest required here-
<br />under an amount estimated by the bortgagee to be sl~cirnt to rnaMe the -Murtgagoo tc pay, as it becomes due, the insu ranee
<br />premium on any insurance pulicp delivered Lo the Mort gagre.:1ny deficiency because ref the insufficiency o[ such additional pay-
<br />~~ moots shat) he forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br />paragraph shall tee deemr~d a default in the payment of insurance prernums. If the policy or policies deposited arc such aS home-
<br />owners or all risk }mticies, and the de}r~sits are insufficient to pay the= entire premium, the Mortgagor may apply the detmsi't to
<br />pay premiums on risks required to tx insurexl by this mortgage. -
<br />Payments made by the Mortgagor under the• above paragraphs may. at the option oC the Mortgagor, tee held by it and
<br />rnmmingled with other such funds nr its own Iunds fur the payment of such items, and tm tit ::o applied, such payments arc herehv
<br />pledged as security for the unpaid balance of the mortgage indettedness. - -
<br />To procure, rieliver to, and maintain for the benefit of the Mortsaaec during tt,.. 7ife :xf this snsrfFag~ rri.-:~-. _ .:_-
<br />s,r,a, puncles anti
<br />renewals thereof, deiivereZ at least ton days 1>'Fore tt., e'x piratiun of any such , retries, insuring against fire and anther insurable
<br />hazards, easuatties, and contingenciz, as the Mortgagee may require, in an amoun! equal to the indebtedness secured by this
<br />Mortgage, and in companies acceptable to the Aortgagee. with loss payable clause in favor of and in form acceptable to the Martga~
<br />gee- In the event any policy is not renewers an or tx!fom ten days of its expirahrrn, the A•fortgagen may procure insurance nn the
<br />improvements, pay the premium therefor, and such sum shalt hea«me immediately due and payable with interest at the rate set
<br />forth in said note anti) paid and shall hr' secured by this mortgage- Failure on the part oI 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 pnhcies shall, in the avast oC default, consti4rte an assignment of the un-
<br />earned premium.
<br />Any sums received by the `fortgagee by reason of loss or damage insured against may hr retained by the Mortgagee
<br />and applied- toward the payment of the debt hereb}' secured, or, at the opiior, of the Mortgagee, such sums either wholly ue in
<br />part may be paid over to. the 3?ortgagnr to !x used to repair such buildings or to build new huilrlings in their place or for env
<br />other purpose or object satisfactory to the Mortgagee x•ithnut affecting the lien on the mortgage for the full amount secured here
<br />by be[ore such payment ever took place.
<br />-To promptly repair, restore ur rebuild any buildings or improvemenW now or hereafter nn the premises which may be-
<br />come damaged or destroyed: to keep said premises ir. good condition and repair and tree from any mechanic's lien or other lien or
<br />claim of Tien not expressly sulwrdinated to the lien hereof: not to curter or permit any unlawful use of nr any nuisance to exist an
<br />said property nor to permit waste err said premises, nor to do any other act wherel+y the property hereby conveyed shall become
<br />less valuable, nor to diminish or impair its slue by any act nr 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 cr any part thereof txr taken nr damaged by reason. ut any- pubs}c improvement ae condemnation ~
<br />p.-aceedittg, or under the right of amine-nt domain, nr in any other manner, the Mortgagee shalt he entitled to all compensations.
<br />awards, artd any other payment or relief therefor, and shall be entitled. at its option, to comrreence, appear in acrd prosecute in its
<br />oum name any atNaon w proceeding, or to make any compromise or settlement in connection with such taking or damage. Ait such
<br />•'. .. •+rtm+..... .-;{-,. •+•-=,w». .r~i.. ,.r .z.~. e~:~e. ,i i•.~..-~..d., :.« h rehy~ n_~<Xn.,.d r,. eh.. ~.f ..rrgabc.• .a t,o maa~. steer drrte.eting
<br />t6etetrarn eH its expenses, release any moneys so received by it or apply the same un any tndebtednecs secured hereby. The- Mort-
<br />gagor 7gtees to ezewtc such further assignments of any campensation. awards, damages, and rights of action and proceeds as the
<br />_ Mortgagee may require.
<br />That in case of failum to perf>rm any n( the covenants herein. the Mortgagee may do on the Mortgagor's behalf evervthmg
<br />so covenanted: the; the /t4ortgagee may also do any ar. it may deem nemssa ry to protect the lien thermt; that khe Mortgagor will
<br />repay upon demand any moneys paid or disbursed F.av the Sortgagee for any of the above purposes. and such moneys together with ~'
<br />interest-the•reoit at the role provided in said note shake become sn much additional indebtedness hereby secured and may ere in
<br />chrded in any decree foreclosing this mortgage and tr paid out of the rents ar proceeds of sale of said premises if not otherwise
<br />paid: fetal it shelf not be-ohiigatmy upon the Mortgagee to inquire into the validity of an}• lien, encumbrances, or claim in ad-
<br />vaapzlg moneys aa~above authorized, but nothing herein contained she!! be construed as requiring the Mortgagee to advance any
<br />raorslt}ra-tor rely watt Purpose floe to do any act hereunder; and that Mortgagee shall tmi incur any persorlai liability because of any• '~
<br />thing t:may do or omit to do here~nder-
<br />- ~ In the event ni the default by Mortgagor in the payment of any installment, as required 6y the Note secumd hereby, or -
<br />in the performance of the obtiget}on in this mortgage ur }r, the note secured thereby, the Aforigagee shall he entitled to declare the
<br />'""""a tr:..{ctFY duC..and-ARyghle withopf notirx, and ,lhr Mortgagee shall 6e enGtted at its option, without notirn, either by itself
<br />or by a receiver fo-be appointed by the court thereof, and without rngard fn the adequacy-nf any;s'ecairif?JYitr°tA~~•,~:~~---- --.,-.:.,
<br />cured lt~eby: to enter-upon-and-take p6s'?;essii:ri of the mrrtgaged premises, and to collect and receive the rents, issues and profits
<br />t'hoT~' a+~ aPP1Y ~-same:-leas costs of oI>°raticn aad ~il~tion. aprm the indeitedness secured by this mortgage; said rents,
<br />ravers and prc6tas 6e5ng'hereby assigned to t#te Mortgagee as further security for the payment of all indebtedness secured hereby.
<br />The Mortgagee shall have the power to appoint any agent or agents it may desire for the pu rpoee of repairing said prem•
<br />>~' re7tttng the same: ealhtrtirtg the rents revenues and income, and it may pay out of said income all ex pensrs innxrred in rent-
<br />tng and ;nanagrng thg eame_a~. of cotlectfng the-rentals themirom. The balance remaining, if any, sha;i he applied toward the
<br />d' of tie mo~e8e-lrtde6te~lnesa:-This a~igrunent is to terminate and 6ecrufte~nu:1 and void upon relerise of this mortgage.
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