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<br />THE MORTGAGOR FURTHER COtiENANTS AND AGREES:
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<br />That the Mortgagor will pay the indebtedness as hereinhetore provided
<br />That the Mortgagor is-the owner of .said property in tee simple and hoc goal right and lawful authority to xv and
<br />- convey the same and that the sam¢ is free and clear of any (i«n or encumbrance; and that Mortgagor will warrant and defend the
<br />title to said premises against the claims of a{t persons whart+soever.
<br />To pay irdmediately when due a»d payable ail general taxes, special taxees, special assessments, water charges, sewer serv-
<br />ice charges, and other taxes and charge: again.( s:ud pr:gyp+~rts, and all taxis levied on the debt secured hereby, and to furnish the
<br />Mortgagee, upon request, with Ore driginal +,r duplicate cocci pis ttmretur. The Mortgagor agrees that there shall he added to
<br />each monthly payment n•quitrd hrn•undrr r,r under the rvidrvu~~ ..f dr•ht creured hereby an amount estimated by the Mortgagor
<br />to he sufficient -to- enable fhe Mortgagee to pt.y. a.~ they brcom~• due. all taxes, assessments, an!1 similar charges upon the prem-
<br />icea suhjeet thereto; airy deficiency Px•cause• of the in_aofficirncy of each additional payments shalt be forthwith deposi tart by tha
<br />- - Mortgagor with the Mortgagee upon demand by the \7ortgager. Any default. under this paragraph shall be rlermerl a default in
<br />payment of taxes, assessments, nr similar charges regal red hereunder.
<br />_ ~ The Mortgagor ageeis Yhst there shall also ]x' added t., each monthly payment of principal and interest raqui red here-
<br />'~ t under an amount estimated by the Mortgagee to be sufficient t,. enable the Mortgagee to pay, as R bec•otnas due, the insurance
<br />~ premium un any insurance policy delivered to the Dtorigagee Any deficirnec lx~cause of the insut;tciency of such additional pay-
<br />_~. mgntc shall-be forthwith deposited by the Mortgagor with the ~'lortgagor vlx~n demand by the Mortgagee. Any default under This
<br />w paragraph shall rte deemed a default in the Paymont of insurance premiums If the policy cr policies deposited are such as }mme-
<br />owners or all risk policies, and the deposit air insufficient in pay th,- notice lurmium, the Martgagee may apply the depo>it to
<br />paY Premiums on risks required to be insu reel by this mnrtgagr
<br />~ Payments made by the Mortgagor under the above paragraphs may, at Ihr cgrtion of [he Mortgagee, h€e held by it and
<br />commingleri wish other such funds r:r +ts own lands for fhe payment of such lien s, and ,until so applied, such payments are herehv
<br />pledged as srcuri t}• for Lhe unpaid balance of the mnrtgagr indebtedness.
<br />To procure, deliver !o. sort maintain fur the ]x~ne&t of the bortgagee during the life of this mortgage original Policies and
<br />:>n,4~~s thr._rw-uf, delivered at least ten days kxlore the espies tiun of any such rtolicirs, insuring against fire and other insurahce
<br />hazards, casualties, and contingen-ies av the Mortgagee may requi:e, in an amount equal to the indebtedness secured by this
<br />Mortgage, and in companie, acceptable to the 'v7ortgagec, with loss payable clause in fay-or of and in form acceptable to the ;\fortga-
<br />gee. In the event any policy is not renewed on or brefore ten days of its expiration, the Mortgagee may procure insurance mi the
<br />improvements, pay the premium therefor, and such sum shat! became immediately duff and payable with interest ai" the rate set
<br />forth in said note until paid and shall t,r secured by this mnrtgagr. Failure on the part of the Mortgagor to furnish suck renewals
<br />- as are herein required or failure to pay a::y stuns adva rry;d hereunder ;hall. at the option of the Mortgagee, constitute a default
<br />under the tarots of this mortgage. The delivery of such poticie=, shall, in the avert of default, rrnstitute an assignment of the un-
<br />earned premium. - -
<br />Any sums received by the Mortgagee by reason of loss nr damage insured against may br retained hy. the Mortgagee
<br />and apptied toward the payment of the debt hereby aerated, or, at the option cf the \7 nrtgagre, such sums either` wholly ur in
<br />part may be paid over to the Mortgagor io be used to repair such buildings or to huild~new buildings in their place or for any
<br />other purpose or object satisfactory to the i•4o.-tgagee without aArctinK ihr lien nn the mortgage for the full amount soured here-
<br />by before such payment ever teak place.
<br />To promptly repair, restore ur rebuild asp buildings or improcvmen La now :rc hereafter un the premises which may hr-
<br />rnme damaged nr destroyed: to keep said premises in gaud condition and repair and free from any mechanics lien nr other lien of
<br />claim of lien not exprec_ly subordinated to the lien hereof; not is suffer or permit any unlawful use of or any nuisance to rsist on
<br />said property nor to permit waste on said premiws. n~v to do am' other act whernc~ the proprrq• hereby conveyed shall bernme
<br />less valuable, nor to diminish n: impair its valor by ar.y act nr omission to act u> c ompiv ~. ith all requirements rsf law wifh respect
<br />to the mortgaged premises and the use there<~t
<br />Thaf sltouid the prermsrs ar any tract [hereof b° taken or damaged by reason of am pubhe i ;iprx~rmrnt ur condrrnnauon
<br />proceeding, or under the right of eminent domain. ~~r in ary other manner, the Mortgagee .chat? br• rnti t!o-.? to all comprnsatinrtc,
<br />awards, and soy other payment or relief therefor. and shall be entitled, at its nption. to commence, appear in end prosecute in its
<br />awti name any aciioa or prt+.±•+'<3ing, rzr io merge a-nv compr.?miss or settl?ment in mnnxtinn with such taking or damage. All such
<br />twnntiesaaticu+, awards, datna6rs, right of ac[son and proreztfs air hereby assigned to the Mortgagee, w-ha may. after deducting
<br />therefrom sA iia ~cpenses, release any moneys so received by it nr apply the same ern any indahiedness secured hereb}~. The Mart-
<br />gagur agrees to ercetatte such further assignments of any cnmprnsatton, awards, damages., and rights of action alai psnce¢ds as tt+e
<br />Mortgagee may require.
<br />That in rave of failure to perform any of the rosenants herein. the ?Mortgagee may do on the Mortgagor's tx•half esarything
<br />so covenanted; that the Aortgagee may also do any act ii may deem necessary to protect the lien thereof. that the bortgagor ill
<br />repay upon demartd any moneys paid or distwrsezl by the liortgagee for soy of the above purposes. and such moneys together with
<br />interest thereon ffi the rate provided in said note shall be.:ome sn much additional indebtedness hereby secured and may }re in-
<br />cluded in any decree foreclosing this mortgage and he paid cart of the rents or proceeds of sale of said premises if not otherwise
<br />paid; that it shall tx>; be ottligatory utmr. the Mortgagee to inqui;r into the validity of any lien, encumbrances, or claim i.^. ad-
<br />_ vagCing aloneys ss above suthor+zed, but nothing herein contained shalt he eonctrued as requiring the it nrtgagee to advance any
<br />moneys for any suth purpose cwt to tto any act hrreundr r: and that AfoY.gagee shslE not incur any prrwnal liability Iwcause at any-
<br />thing it tray do or omit to du bereurtdrr-
<br />- ~- - In the event of the default by Mortgagor in tlx paymrna of any instattmenf, as required by the Note secured hereby, or
<br />in-the ptsrfartnertee of the obligation in this mortgage nr in thF note secured thereby. the !vfortgagea sha}I be entitled to declare the
<br />- debt,,secured hereby due and payable without notice. and the bloc:-gagr•e shat] tv rntit]ed at it3 option. without notice, either by itael£
<br />or Ity a retaeiver to be appointed by the rourt thereof and without rngard to the ade•quary of any security for fhe• indebtedness se•
<br />cured hereby, to enfer upon and take possetision of the mortgaged premises. and to collect and receive the rents, issues and profits
<br />thereof,-and apply the same. .less cysts of erperatinn and cYSilertinn, upon the indebtedness seev red by this mortgage: said rents,
<br />muss and puts beinghereby a~igned to the Mortgagee as further security for the payment o[ all indebtedness secured hereby.
<br />The Mortgagee stra[f have the power to appoint any agent or agents it may do-sire fur the pu reuse of repairing said prem-
<br />-ices:renting the same: collecting t}te tents, revenvea attd income, and it may pay nut of said income all expenses incurred in rent-
<br />ierg seal managing the acme and of txrtlecting the rentals therei rom- The balance remaining. if soy. shalt be applied toward the
<br />dischrrpe of the mortgage irtdebtedtteaa. This assignment is to terminate and become null and void upon release of this mortgage.
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