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TT•ftE MOR"PlirLisfll~ TttIiTl•i~l~ f:fJRif'~1'w'ANT:'3 a"~ll+i~ tta(A~I^v.'DJ~: "" t~~l', f1~.5 `'~i~~,
<br />That title Mgprtgagur will Ipaytha ivyduelM~~ #R berBtirgttef ,~~,_~ ...ed,
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<br />That the Mortgagor-is the owner of said proper±y in fee simpler and has good~righi and ;awful aittharity to ~selt and
<br />convey the same ar-t._--that Elie-set9e ii4-#tee Viand Clear of any lien yr encumbrance: and that Mortgagor will warrant -and dFfend the ~-
<br />title to sasd premises agaitfst the claifns og--aU pessoris whansoeve r: -
<br />Tv pay itntnedxateiy whEn `due and payable all general tares; special faze>: special asxessmenis, water charges, sewer serv-
<br />ice charges, and other taxes-and charges against said property, and alt taxes levied on the debt secured hereby, and [o furnish tjse .. ., ,_-
<br />Mvrtgagee, upon recjrAat,rwith the orig+nai or duplicate rer_eipts-therefor: The itiiorfgagor agrees that there shall he added'fa
<br />eaclr monthly payment required Hereunder or unrter the evidence of debt secured Hereby an arnount estimated by the Mortgagee
<br />to be sufficient-to esiaDle'-ihe~ Mortgagee to pay, as they become due- all taxes. assessments, and similar charges upon flee prerrs• _ .
<br />ices subject tlr'_ieto; any deSciency because of the insufficiency of such additional payments shad he forthwith depvsited Iry-tire
<br />P9ortgagor wrch the !liartgagce upvn demand Gy the ..".iortgagee. Any default under t"His paragraph shall he deemed a <lefavlt in
<br />payment ref taxes, asse<zsments, nr similar charges required hereunder.
<br />- Tbe-lViurtgagur agrees that there shall also be added to each monthly payment of principal and interest- required here-
<br />under an amount estimated by the Mortgagee to be sufficient to enable the Mortgagee to pay, as it becomes due. the insuranm
<br />prerninm or. any insurance policy delivered Lo the ?4ortgagee. Ahy defreiency tn:cause of the insufficiency of such additional pay-
<br />men~.s--shall be forthwith deposited by tfle Mortgagor with the Mortgagee upon demand t,y the Mortgagee. Any default under Phis
<br />paragraph shall Ire deemerS a default in ihr payment of iasuranr_e premiums. {f the policy or policies depusitPrl are such as home-
<br />owners or all risk poticir°s, and the dein+si is am insuf£rcient tr+ pay the entire premmm, the Mortgagee may apply foe deposit io -
<br />pay premiums on risks required to lie insured l:y this mortgage.
<br />Payments made by the ~Srrrtgagor under the above pera~raphs may. at the option of the Mortgagee, tH~ heldby it and
<br />crommingled with other such funds ar its awn funds €ar the payment of such items, and until so applied, such 17aym~~~r,~: ire hereby _
<br />pledged as security tar the unpaid balance of the mortgage indebtedness.
<br />Tu pr<x•ure, deliver to, and maintain for the benefit of the Mortgagee during the life nt this mortgage original pn:~..: ~:-.~ atxl
<br />renewals thereof, delivered a! least ten days tsefore the expiration of arty such policies, insuring against fire and other insurable
<br />hazards, casualties, and contingencies as the DFOrtgagee may require, in an amount equal to the indebtedness secured by this
<br />Mortgage, and i:: cvmpan} s acceptable to the Mortgagee, with toss payable clause ir. favor vt and in form acceptable to the M~rtga-
<br />gee. In the event any po?icy is nut renewed on or before [en daps of its expiration, the Mortgagee may prceure insurance an the
<br />improvements. pay the premium therefor, and such suni shall `,erume i.-..rr~iate':y due and payaF,le with inrerest ae rh., rare set
<br />forth in said note anti! laaid and shall tee 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 shall. at the option of the Mortgagee, constitute a delauit
<br />uatder the loons of this mortgage- The delivery of such policies shall, in the event. oC default, constitute an a-ssignment of the un•
<br />earned premium.
<br />Any sums received by the Mortgagee by reason of loss or damage insured agaiust may he retained by the Mortgagee
<br />and applied toward the payment of the debt hereby secured, or. at the option of Lhe Mortgagee, such sums either wholly or in
<br />part may be paid over to the Mortgagor to be use~t to repair such buildings or to build'naw buildings in their place or Far any
<br />.,th.,r nurlxsu• ar ohiect satisfactory to the Mortxagee without affecting the lien on the mortgage for the full amount secured here-
<br />by before such payment ever trxrk place.
<br />Ta promptly repair, restore or rebuild any buildings or improvements now or hereafter on the premises which may be-
<br />come damaged or destroyed; to keep said premises in good cundi lion and repair and free from any mechanic's lien or other lien or
<br />claim of lien not expressly subordinated fo the Lien hereof; not. to suffer or permit any unlawful use of or any nuisance to exist on
<br />said property nor to permit waste on said premises, nor to rlo any ether act whereby the property hereby cvnveyeri shat! fiecome
<br />loos valuable, nor W diminish or impair its vahre by any act or omission to act: in comply with s!i reruirement: of taw with respect -
<br />ta flee mortgaged premises and the use thereof.
<br />That shau}d the premises or any part thereof be taken ur damaged by reason of an! public improvement or candemnatian
<br />proceeding, ur under the right of eminent domain, or in any ufirer manner. the Mortgagee shad i>£' r-ntitled to at:.ampenssti;,;.s.
<br />anal, anti any othei payment ur relief therefor. sort shalt lee entitled, at its option, to eanmenct, appear ;n anti-pr:.sac~te--it€-=~=- -
<br />own Hartle any action ur proceeding, or tc make any eompromrse cr setttemeri in cannectian with such taking ar damage. All sorb
<br />ctbn°tion- _"_sYeei~. dacag~, regtrt at-actron ~.=2 °a'-~k are h~rpby aasign?d ?n rir~ eyi rxg-gee vlia rnz.y-. meter d c..ir --
<br />I~-raitvrn all ~,a ~per•~,~, ='caa arty mvq;€ys are-r~eve+?-Ay-=±-ar apply the Mme on a._uv indebtedness yeclred hereby-The.?tlort- ~r•
<br />gagor agrees to execute such further assignments of any compensatwn, awards, damages, and rights of action and proceeds as the ~~ -
<br />Mortgagee ~Y xequire. ~"
<br />~2.:
<br />That in case of failure to perform any of the covenants herein, the Mortgagee may do on the Mortgagor`s behalf even~thinB
<br />so covenanted; lost the Mortgagee may also do any act it may deem necessary to protect the lien thereof; that the Mortgagor will
<br />repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes, and srrrh moneys together with
<br />interest thereon at the rate provided in said note shall became so much additional indebtedness Hereby srrcured and may he in- 1
<br />chided in any decree foreclosing this mortgage and be paid out of the renk+ or proceeds of sale of said premises if not otherwise
<br />paid; that it shall not be oMigatary upon the Mortgagee to inquire into the validity of any lien, eneumhranceu, ur claim in ad~
<br />vandng moneys as shove authorized, but nothing herein contained shall be construed as requiring the Mortgagrr ir; advance any
<br />numeya for any such Purpose nor to do any act hereunder, and that Mortgages shall not incur any persuna't liat.iiity because of any-
<br />thing it may do ar omit to do hereunder.
<br />fn the event of the default by Mortgagor in the payment of any inatallmeni. as required by the Note secured hereby. or
<br />in lire performama of the obligation in this mortgage or in the note secured thereby, the Aortgagee shalt Fie entitled to declare the
<br />debt aeCttred hereby dtte and payable withaui notice, and _the Mortgagee shalt be entitled st its option, without notice, eittrer by i4ve-f
<br />of bY. q- rts~iver to be appoieited 6y_tbe court thereof, and without reganl" to the adequacy of any security for the indeb#edne~s_se•
<br />~..rsai i-,zrcyy}, c.i::.-r izH,~n u=.. •~~.e t;c~,- 5.~i-€,~ tia~~,s~~sged:~retrs ~. a_nd tc ee31~c# Wit! res•eiye ttte-re- ~ssu~ 3trd-profit.
<br />thereof, and'npoly tb~ same, Seas coasts vt ul,eratianand'ecilt~tttstt. uprm till inricbt~drse~ seeitred by this mortgage:-said rents.
<br />psuea `and-ptetEb tieing hereby-asstgned fn the'Mortgageeas further security for the payment of alt indebtedness seeurtvt here+tev.
<br />- The ItSortgagee shall have the power_to appoint any agent or agent-a it may desire for the purpose of repairing said prom-
<br />- {sea; ttmtiag the came: collecting the-rents,. revenues -anti.income, and it may pay out of said income al[ expenses incurred in rent-
<br />ing--and. managing ~ "same amt of collecting the rentals therefrom. The balance remaining, if any, shalt tie applied toward tfie
<br />diachserje of the mortgage ~rteas, This assignment is W terminate anr! become null and void upon release of this mortgage.
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