|
:~"l,'f~ '~i~)~. I~~~r:4i~,,r,,Ift, ~Il'i i~l~ji P'C~l~t i, T.R~P:'.4 /r.~a~~cs PI ~'I'!€~E RIl~~[~I`°-
<br />T.'~rt .4w M+tiat~..r v+'~31 ;~_ ~. --I~.r.a?~,=- ~ ~,:ter.: ; .+-r- :i-- ~`~i"RA
<br />~.
<br />Ths>< fare .h;lorS~agor a the ove=r Sd ,~ r'ty ~'= std lies rty'•s# sari ie wit; au'F.mtr is arw ar ~„
<br />"-~ r~ ,.~ sart~ s;'x! mat ~ • ~ ?rx-e ~ °~=.a-!'~ at-r f~rr! .~,- ~a~urar~. sir: Wiest ?~1 ~-?gager ant? -ssrrssr:' a~ i5rfr+m3 the
<br />tit! •3 said p*am lice s,emurt #hr [•kdrea d ail frrr+r~r -~;..xn. xe~~wrr
<br />To pay a'~rrr3.y wises dtu and 4ra]ra§Ee all creersi tatter, taxrx- sprrxa; axssssraents, xatrr : ~:asgs_x, vrwwr ,scr.-
<br />iCe changes. and 9ther tares anti E3iiigea said Pt'Y. ]azs4 taa:ss levt r<n the dri~..ecur-yrf ;ae.=±>by. grad L. furnsatt ~~
<br />Mort3><4tta. +tim++ re4+~. with the arigiaral ar dvplacstr. tsbeipts t#xref,r. 'I'he Mortgagor agr~~ that khere shall be addex3
<br />eartt mm;thly payns?nk rw~;ired hereunder or vtsder tfae e•videnee of debt scturnd Iserehy art err xrnt estimated try the !vtart;a;e.
<br />to lee sufti¢ent to enable the lMortgsxee to pay, ss fiery brcrme due- std taxes. --__- _=,~,n+s- ar.d ~milar ef•argr-* u#r;n t:~.> prer„-
<br />iaes sub5t=ct t}terrto; any debteacy~ because of tl>E insufftcieruy of such addttinrtai yayrrer-ts shelf he #or±h.vith do-posies yry
<br />'.Mortgagor +vi2'h- the Aortgagee upon demand cr the lfor ag+>e. Any default uadez this . r$ •a,.h s e
<br />"~ ~ `ta g. hall be dr-Erred a d?farr't# in
<br />}tt77p~ pa}•rnen: of lazes, assesatnentc, nr similar charges required herevnd?-r -
<br />The Mortgagor agrees that there shat! also be added to each m~:;thly payr,~nt rf principal and interest tegttired here-
<br />AAA under an amout.t estimated by the Mortgagee fn be suflicienf to enable the Martgagex to pay. as +t bernroes d+se, the irtsurarsce
<br />Premium an any insurance policy delivered Ya the Mortgagee. Any de6riency btxastse ~ the irst:•Huienry of such additional pay-
<br />menta shall be forthwith deposited by the Mortgagor with the ortgagee upon demand by the Mortgagee. Any default under this
<br />.paragraph shall be deemed a default in the payment of insurance premiums. If the policy ar policies dep.~ited are such as hume-
<br />awners or all risk policies, and khe deposits are irtsvlbcieat to pay the entire premium, {he Mortgagee may apply the deposit to
<br />Q- pay premiums on risks required to be inwred 'oy this mortgage.
<br />Payments made by the Mortgagor under the aoove paragraphs may, at the ripticn of the Mortgagee, be held by ii and
<br />commingled with other such funds or its own funds for khe payment of such items, and until so applied, such payments are hereby
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
<br />To procure, deliver Yo, and maintain for the benefit of the Mortgagee during the life of this mortgage original policies oral
<br />renewals therer f, delivered at least fen days before the expf rattan of any such policies, insuring against fire and other insurable
<br />haraeda, casualties, and rnntingencier as the Mortgagee may require, in an amount equal to the iadebtedne~ secured by this
<br />Mortgage, and in companies acceptable to the Mortgagee, with foss payable clause in favor of and in form sete_ptable to t};e :vinrtga-
<br />gee. In the event any policy is not renewed on or before ten days of its expiration. Lhe Mortgagee may procure insuran~< an the
<br />improvements, pay the premium therefor. and such sum shalt he~:ame i...ar,~.t:army dz~ and w able w,.... , .tercet at the rz:e ref
<br />forth nn said Hate until paid and shall be secured by this mortgage. Failure on the {met of the Mortgagor to furnish such renewals
<br />as are herein requrred or failure fo pay any sums advanced hereunder shall, at the option of the Mortgagee, constitute a default
<br />under the Perms of this mortgage. The delivery of such policies shalt, in the event of default. constitute an assignment of the un-
<br />earmd premium.
<br />Any sums received by the Mortgagee by reason of loss or damage insured against may be retained by the Mortgagee
<br />end applied toward the payment of the debt hereby secured, ar, at the op{ion of the Mortgagee, such sums either wholly or in
<br />part may ire paid over to the Mortgagor to be used to repair such buildings or to build new buildings in their piece or for arty
<br />other gurpose or object satisfactory to the Mortgagee without affecting the tier on the mortgage for the fult amount secureel here-
<br />by laefare such payment ever took place. -
<br />o praaa,ptly :spat:. :es±are or rebuild any buildings or improvements now ur hereafter on the premises which may be-
<br />tnme damaged or destroyed; to keep said premises in good condition and repair and tree from any mechanids lien or other lien or
<br />claim of lien not expressly subordinated to the lien hereof; not to suffer or permit any unlawful use of or any nuisaru~e to exist an
<br />said property nor to permit waste on said premises, nor to do any other act whereby the property hereby rnnveyed shall bernme
<br />less va}uable, nor to diminish or impair its value by any act or omission to aM: 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 ar damaged 6y reason of any public improvement or Condemnation
<br />proceeding, or under the right of eminent domain, or in any other manner. the Mortgagee shall be entitled to all +-nrr;fn-r~se•an=.
<br />awards, and any other payment or relief therefc:, and shall tae entitled, at its option, w e<,mmence, appear in and prosecute in its
<br />own r~rr~ say att_ion ur pruceedtno, or to make an}' camp-emis~ ar seftlemenf in conaac-erica with suet: taking cr da.r~rtaga. Ail sorb
<br />ctartpermatinn, awards, damages, rght of action and proceeds are hereby assigned to the Mortgagee, whir may, after deduttine
<br />tl-~r~ v all its tx~.~, ra:raae any moneys st, received by it ur aPPly the same on any indebtedness secured hereby- The Mort-
<br />tsr-~ 2es-tfl ~•acu=a s-~r!: Puri-'.ter a~igssrnents-$f stay -eatrip~~ :~tir;n. avar$s. damages. and rig'nts of action anc# Pr~eeil?z as the
<br />14forlgegee mayrequire.
<br />That in rase o[ failure to perform any of the covenants herein, the Mortgagee tray do on the Mortgagor's behalf everything
<br />so covenanted; that the Mortgagee may 81so do any act it may deem necessaey to pm!ect the lien thereof; flask the Mortgagor wiU
<br />repay upon demand any moneyre paid or dssbu:sed by the Mortgagee for any of the above purposes, and such moneys together witla.g_
<br />interest thereon at the rate provided in said note shall become sa much additional indebtedness hereby secured and may he in-
<br />ducted in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if not atherwa~ssee.~,-
<br />-paid; that it shell not be obligatory upon the Mortgagee to inquire into the validity o! any lien, encumbrances, or claim in ad-t=om
<br />venting moneys as above authorized, but nothing herein contained shall be conslrued as requiring the Mortgagee to advance any
<br />moneys for any such purpose not tc do any act hereunder; and that Mortgagee shalt not incur any personal iiabifity because of any-
<br />- thitrH k-may do or omit tq do hereutaler. -
<br />Ia the event of the default by Mortgagor in the payment of any installment, as required by the Note secured hereby, or 6
<br />in the perforatasue of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall be entitled to declare theme;
<br />debt secured-hereby due and_psysbfe without notice, and the Mortgagee shalt be entitled of its option. without notice, either 6y itself -~~_
<br />or by s receiver to be appointed by the court thereof. and without regard to the adequacy of any security for the vtdehtedness se-
<br />cured hereby, to color upon and fake possession of the mortgaged premises, and to collect and receive the rents, issues and profits
<br />thereof, and apply the same„less costs o[. operation and rnllectiun. upon the ixtdebtedtte~ tern red by this mortgage; said rents,
<br />issues aa.3.proftta 6eing_herebp assigned to the Mortgagee as further security ter the payment ~t all indebtedness secured hereby.
<br />Ttx Mortgagee sh>•1C have-the power to appoint soy"agent or aKents it may desire -fur the purpose of repairing-said prem-
<br />ises; renting the same; collecting the: rents, revenues sled income. and it may pay out of seed income all expenses incurred itf rent-
<br />utg azd managing the-same artd of collecting the rentals therefrom. The balance remaining. if any, shall be applied toward the
<br />discharge of the morig$ge-irtdebtedrteea. This-assignment is _!o terminate and became null and void upon release of this mortgage.
<br />- ~J
<br />
<br />
|