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<br />Tiff MORTGAGOR FLTRTf3£E ~V£NANTS AND AtiR££S: r.`"t.
<br />Thai tEat lVlortgagat will pay the indebtedt~e.aa herrinErefore- provided. :.
<br />_ That the iL{ortgagor is the owner of said property in free simple and has grind right anrf tawfui authority to sell gild
<br />4 convey *_he :sa:~•.and"that the s1+Ax~ ia.5rer.. grid clear of any lien or errcttmbrance; and- that Mfxfgagor wilt warrant" ani3 defend the- .
<br />title to said premises against the- claims of all persons whomsoever. _
<br />To paji-irrtrrtediately tvtiea flue acid Irsiyali9e all general taxes, special taxis, specie: assessorenLs, water charges, sewer .sen•-
<br />ice charges, and other taxes and charges against said property, and all taxes levied an the debt secured hr-rsby, and, to fvrrush the ,
<br />h{urtgagee. upor_ r~uest;. with the originai~~:,r dvplicafi; receipts ittrrefar. The ~{ertgegor a:,•reMS tfiai there shall he added fo
<br />each monthly paym'.nt required hereunder nr under the evtdares r:f debt, secured hereby ar. amount setting±r-rl i:y the Mortgagee
<br />to be sutF.cieut to enable the Mortgagee in fray, as they become due, all taxes. assessments, and similar charges upon the prem-
<br />ises subject thereto:. any deficiency because of the insufficiency of such additional payment; shah tar forthwith depasitrrl by the
<br />Mortgagor with Lhe Mortgagee upon derrtand by the Vlnrigagee Any dr~fcult under this paragraph shall he deemed a default in
<br />payment- of taxes, assessments, nr similar r•harges required hemunder-
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<br />i~ The ~{artgagor agrees that there shall also be added to r~aeh monthly pavment of principal and interr:t rr.~ui red here-
<br />under an amount estimated by the ':Mortgagee to be sufficient to enable the ;Vinrtgagee fn pay, as rt 1»•comn due, the insurance
<br />peemiur., nn any coca sanca palic}' delivered to fhe 1\{oil gager .any deficency because r,f the +nsafCiciency of such additional paq-
<br />A insole shah lie forLhwifh denrzsiter_i by rho \i., -ga_gor a"i}t: ±he M:*rf gage•e uxn-a.,s;.an:' F,v the artgagee. Any refauif unrier this
<br />paragraph shah be deemed a clef:suit :n the payment ~( ,nst:rance ps minors If the pel,rv nr poi•icie=. depo,:tFd are such as ln3me-
<br />owners or alt risk iralicies. and the defms~t, ace rnsvfficrent ?r+ , ti.. ent.rr~ premium the :lnrtgaKee ma'. apply the depos-i4 to
<br />~ pay premiums an risks require; io irc• insured 'ry this mortgage
<br />Payments made by fhe Mortgagor under the atnve~ paragraphs may, at the option of the Mortgagee, be held by a ar;d
<br />~ commingled with other such funds rr its own fundr for the pay-mert of each ifams, and until sa applieri. such paym?nts are heir-:~.
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
<br />To procura, de.iver fu, gad maintain for rho lwnsfit of tbr•Mortgagee during the life of this mortgage original I>dicies end
<br />renewal thezeof, dativ.~rs.1 at Ir•.,~t ter, da.-s t.•fore the ,=x pirati.+n :;f any such p:;iicie::, incur.ng against fire and other insurable
<br />- hazards, casuaitdea, and ~rtingeacies as the Mortgagee may require, in ar. amount equal ter the indebtedness secured by this
<br />Mortgage, anti in eampanirs acceptable to Lhe ~dnr?gages, w:lh loc. payable clause in favor of and in farm acceptable to the 141oztga-
<br />gee- In the event any policy is nt:t renewed or, or before !r-n days of its expiration. the Mortgagee may prrX:u re insurance on the
<br />improvements, pay the premium therefor, and such ;um shat} hec~~me immediately due and payable with interest at the rate set
<br />forth in said note until paid and shall hr' ecru rid he ±his mortgage. I'aitu re nn the part of the Mortgagor W tarnish such renewals
<br />as girt herein required ar failure to pay any sums advanced hernunder shall, at the option of the Mortgagee, canslitufe a default
<br />under the terms of this mortgage. The dslivery of such policies shall, in the event of default. constitute an assignment of the un-
<br />earned premium.
<br />Any sums received by the tTartgagee by reason of loss or damage insured against may be retained try the Mortgagee
<br />and- applied toward the payment of the debt hereby secured, or, at the option of the Mortgagee, such sums rifher wholly or in
<br />part may be paid over to Elie Mortgagor to be used to repair such buildings or to build new buildings in their place or far any
<br />- other purpose ar object satisfactory to the Mortgagee without affecting the lien nn the mortgage for the Eult amount secured here-
<br />- by before such payment ever took place.
<br />To promptly repair, restore or rebuild any buildings or improvements now ur hereafter nn the premises wtsirh may be-
<br />came damaged or destroyed; to keep said premises in grand condition and repair and fees cram any meci:aric's tier, r:r other lien ar
<br />claim of lien not expressly sut?a rdinated ie the lien hereof: not to suffer ae permit any unlawtul use of or any nuisance to exist on
<br />said pr:rpert}• oar to t~rt:rit waste on said premises, r?,.- 'o rte arty ether act •.vherehy the profkrty hereby conveyed shall become
<br />less -~aiuab'=g, nor to diminish nr impair its value by cry act or cmissian is act; to cr.rn}aly with alt requirements of taw with respect
<br />to the mortgaged nremises anti Lhe usr thereof.
<br />'Thai should the premises or any part thereof he taken or riamaged by reason of any pubiie improvement ar condernnatian
<br />proceeding, ar ttnder tits right of eminent domain, or in any other manner. the ,~iortga~i-z chaff ire entitiecz` tr. a9i r'a~izrraati~,
<br />awards, and any other payment or relief therefor, and shall ce entiifed, at its option, to cotnrnence, appear in and prosecute in its
<br />own name any action or proceeding, or to make any compromise or settlement in connection with such taking ur damage. ail such
<br />compensation. awarr}s, damages, right of action and pnacveds are hereby assigned to the Mortgagee, who may. offer deducting
<br />thetrftvan ailita expenses, release any moneys so received by it or apply the same an any indebtedness secured hereby. The Mort-
<br />gager-sgrfesia exeettie-such further assignments o[ any compensation, awards, damages, and rights of action and proceeds as the
<br />Mortgagee may ret;uire.
<br />That in case of failure Lo perform any of the covenants herein- the Mortgagee may du nn the Mortgagor's trehalt everything
<br />so covenanted; that the Mortgagee may also do any act it may deem necessary La protect the lien thereof; that the M1{arigagnr will
<br />repay upon demand any moneys paid or disbursed by the Mortgagee Car eny of the above purposes, and such moneys taget}ier with
<br />' interest thereon at the rate provided in said note shall bernme so much additional indebterines+ hereby secured and may Ere in-
<br />eluded in any decree foreclosing this mortgage and he paid out of the rents or proceeds of safe of said premiers if not otherwise
<br />- paid: that it shall nut tae abligatery uf.mn the Mortgagee to inquire into the validity of any lien, encumbrances, o. ....a: in ad-
<br />vancing moneys ae-shave authorized, lint nothing herein contained shall be construed as requiring the Mortgagee to advance any
<br />matega for-any atitlt purpose nor ta do eny -act hereunder; and -that Mortgagee shat[ not incur any peraonat liability because of any-
<br />thing iL may do ar omit to do hereunder.
<br />In the event of the default try fvFartgagor in Lhe payment c,f any installment, a3 required Icy the haft-~urad h~rebp, or
<br />ir, ills l~rfarzrat:tr of the abiigetiar. in this mortgage ortn the n*±te secured thereby, the Mortgagee shall be entitled to declare rite
<br />debt et+ttitxed hereby due and payable wiihouk notice>, and the Mortgagee shalt be entitled at its option. without notice, either by itself
<br />ar b~ a ttu~tver to'be appointed by the court thereof, and without regard !o the adequacy of any security far the indebtedness se-
<br />cut`reil h'sireby; to-eater upon and take ptra'sessian oY the mortgaged premises, and to rolieck-and mreive-the rents, issues and piofi#s
<br />(hereof, and-apply the Barrie„less costa of operation and collection, upon the indebtedness secured by this mortgage; said rents,
<br />- - isattea'and profits-being hereby assigned #o the Mortgagee as Further-security-#or tl:e payment of ati indebtedness si~rureti herahy. -- - '~
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<br />The MoNgagee shall have the power to appoint any agent or agents it may desire (or the purpose of repairing said prem-
<br />-} taco; renting the same; rnllecting~ the rents.. revenues and income, and it may pay out of said income all expenses incurred in rent-
<br />; ins and managing the same find of callectirtg the rentak therefrom. The balance remaining, if any, shall tie applied toward the
<br />discharge of the moFlgaae indebtedness. This asaigttment is to terminate and become null and votd upon release Uf this mortgage.
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