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<br />THE MORTGAGOR FURTHER COVENANTS AND AGREES:
<br />That the Mortgagor will pay the indebtedness as hereinM•tore provided: s y
<br />Thal the Mortgagor is the owner of said property in fee simple and lies good righE and lawful authority to sett and
<br />convey the same end ;that. the same is free and-clear of any lien or encumbrance; and that 1•Sortgagnr will warrant and defend the
<br />• title to said. premises against the Claims of all Rersons whomsoever.
<br />To pay immediately. when due: and payable all general taxes, special taxes, special assessments, water charges, sewer serv-
<br />ice charges, ati4 `ether-fazes and charges against said procerty, and all taxes levied on the debt secured hereby, and to furnish the
<br />Mortgagee, 'upon request; with ttie original er duphtatr receipts-therefor. The Mortgagor agrees that them shall be added to
<br />each monthly payment required hereunder or under the evidence of debt secured hereby an-amount estimated by the Mortgagee
<br />to 'w sufft©en[ Ln,enabie the Mortgagee to pay, as they become due, alt taxes, assessments, and similar charges upon the Prem-
<br />C'7 t~•+s subject theretq; any deficiency because of the insufficiency of such additional payments shalt be forthwith deposited by the
<br />Gm Mortgagor wit3i Lhe Mncfgagee upcti demand by the Mortgagee. Any default under this paragraph shall be deemed a default in
<br />~. payment of taxes, assessments, nr simile{ 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 ilia Mortgagee to be sufficient to enable the Mortgagee to pay, as-it becomes due, the insurance
<br />~' premium on any insurance policy delivered to the Dortgagee. Any deficiency because of the insu(ficirncy of such additional pay-
<br />' meets shad be forthwith deposited by the Mortgagor with the Iviortgagee upon demand by the Mortgagee. Any default under this
<br />~ paragraph shall be deemed a default in the payment of insurance premmms If the policy or policies deposited are such as }rttme-
<br />owners or al! risk policies, and the deposits are insufficient to pay the enlire premium. the ?tiortgagee may apply the deposit to
<br />pay premiums on risks required to be insu nvl by this mart gage
<br />Payments made by the Mortgagor under the above paragraphs may, at the option of the Mortgagee, t>e 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 payments are hereby
<br />pledged as security for the unpaid balance of [he rnurtgage lade btedness.
<br />To procure. deliver to, and maintain for [he benefit of the biorfgagee during the life of this mortgage origins! policies and
<br />renewals thereof, delivered at least ten dace before the expiration of any such policies, insuring against [ire and other insurable
<br />_n~ - __ er;e My.,.~agm ,., sire . ... .... ....._~nt went +~ tM . Ytet.:e.tram ~,..rea by Lt;m
<br />..a.a ..e. ....v,,,.-,.s n ~ ~, . .. _ _
<br />Mortgage, andrin companirs}acmptahle to the Mortgagee, w-iih lase payable clause in favor of and in form acceptable to the Mortga-
<br />gee in the event any {. =hey is not renewed on or ta•terr ten clays of eL~ expiration. the Mortgagee may procure insurance on the
<br />improvements, pa}• the premium therefor. and wch sum shall became immediately due and payable with interest at tee rate set
<br />forth in said note until paid and shall ?x• srcu red by this mortgage Failure on the part of the Mortgagor [u furnish such renewals
<br />mm are herein required or failure to pay ary sums advanced hereunder =_hall, at the option of the Mortgagee, constitute a defaul!
<br />urrtler the terms of this mortgage. The delivery o£ such policies shall, in the event of default, aensti[ute an assignment of the un-
<br />eamed premium.
<br />Any sums reoeivrd by ilia Mortgagee by reawn of loss or damage insured against may be retained by the Dortgagee
<br />and applied toward the payment of ¢he debt hereby secured. or, at the op[eon of the Dortgagee, such sums either wholly or in
<br />part may be paid over to ilia Mortgagor to he used to repair such buildings o: to build new buildings in their place or for any
<br />other purpose or objets satisfactory to the SSurtgagee without affecting the 3ien on the mortgage for the full amount secured here-
<br />by hetvre such pe}•men2 ever took place.
<br />To promptly repair, restore ur rebuild any hmtdings or impruvemrnts now or hereafter on the Premises w-hich may be-
<br />corae damaged or destroyed; fo keep said premises in good condition and repair and free from any mechanic i lien or other lien or
<br />daim of lien not expressly subordinated !o the lien hereof; not to softer nr permit any unlawful use of or any nuisarxe to exist on
<br />said pteperty nor io permit waste on said premises, nor tr. do any other act whereby the pr perry hereby conveyed shat! become
<br />leu vattaWe, oar In diminish or impair iLc value bs any act c•r r,mission Ri act to cam pip with all requirements of law with respect
<br />to ilia mortgaged premises and the use thereof-
<br />That should the premises or any part thereof be to-en nr damaged by rea_vn of any public impmvrment or condemnation
<br />proceeding. or under the right of eminent domain, ur m any other manner. the ]iertgagee shall 6r rntulyd to all compensations,
<br />awards, and any ether payment or relief therefor. and shall be entitled, a2 its apuon, to comnrenrn, appear in and prosecute in its
<br />own name any action or proceeding, or to make any rnmpromise or settlement in connection with such taking or damage. All such
<br />crarrpersation, awards, damages. right of action and prarttds are hereby assigned to the .'Mortgagee, who may, after deducting
<br />therefrom ail its expenses. triease any moneys so ecrivrd 6c it or apply the same un any indrbiednrss secured hereby. The Mort-
<br />t[agor agrees to execute such further assignment of any tt.mpensaix,n, awards, damages, and rights of action and procexls as the
<br />Mmtsagee maY require. +;*.
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<br />That in cane of failure to perform any of the covenant_+ harem, the Mortgagee may do on the Mortgaxar~s behalf everything ¢,.,A
<br />so ooverrsnted: Thal the ?.t ortgagee may oleo da soy act it may deem recs. sarv to protect the lien thereof, flier the Mortgagor w-ikl '
<br />demand any moneys -d or disbursed by the 'tfurt afire 4,r any of the al+ervr ur ~, and inch moneys to ether with "~
<br />repay upon Pee g P p*' g
<br />iaberest thereon at ihr rate provided in said note steal? t,rc_•mr sa much additional endebtrriness hrrebp secured and may be in- t--
<br />eluded in any decree foreclosing this mortgage and be paid c:uf of the rents or pnxreds of sale of said premises if not otherwise '~
<br />plaid; riot it shall not 6e obligatory upon tam Mortgagee to inquire into the validil}' ++t any Lien, encumhranms. or claim in ad- -
<br />vatxing mtureys as above suthorirxd. but nothing herein contained shall lr construed as rtquering the ASnrtgagre to advance any
<br />rxxxceya fen stay aq.-}r purpose naz to do any set hereuredez; and that Mortgagee shall n••t tncvr any P+'rsonal Itahility twraucr of any-
<br />fJrirtg it iaay da or omit to Ito beteuodnr-
<br />Ir. the event of the default by Mortgagor in the payment of any Installment, as required by the Note secured hereby, or
<br />in the performsm of the oWigalron irI this mortgage or in the Wore secured thereby. the \Sortgagee shall be entitled Ln declare the
<br />debt secured trerehy d;rr and pay-au' le without rmtim, and tine ~iortgaFPe shell ter Pr:tit?ed at its ..ption without nrtie? either by i±setf
<br />yr by a receiver to he appointed by flee court therc+~L and without regard to she anrquary ut any ,ecu cit. fur the indebtedness se-
<br />cured hereby, io eater upon and take possession of ilia mortgaged premises, and 4, cullxt and receive the mots- issues and profits
<br />ttteaed, and apply the same, ]rte costs of operation and collection. upon the indebtedness secured by this mortgage, slid rnnts,
<br />issues and p2arFita Leirrg hereby aligned to fhe Mortgagee e< further security for t}a payment of all indebtedness secured hereby.
<br />Tare 2.f~^agr? s?eatl love tax power is appoiai any agent or agents it may desire for the purpose of repairing said prem-
<br />ises; renting the same; catler_ti~ the rents, revenues and income, and it may pay out of said income all expenses incurred in rent-
<br />ing sad manggirt(Z the stene sad of Lrollecting the rentals therefrom. The balance remaining, if any, shall be applied toward the
<br />dischaite of flee mart[a[te indabterlness. This assignment is to terminate and became null and void upon release u[ this mortgage.
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