|
<br />'L'ACE MORTGAGOR FiJRTHER COVENANTS AND AGREES: . ,... - _
<br />That the Mortgagor wilt pay_ the indebtedness as herein before provided_
<br />That the Mortgagor is the-oi>rarr o[ said property in Cee simple and has good right and lawful authority to sell and -
<br />convey the same and thatfhe -same i8:fiee ead dear of any Peen or eacumhrance; and that Mortgagor wit} warrant and defend the
<br />tine to said premises avainaf-the ctitfms 'of a([-jteiaoirs whmnsoever: - - -
<br />To pay immediately wbcn due and- payable. all general taxes, special taxes, special assessments, water charges sewer serv-
<br />ice charges, and-other-texea and etisrges against said uropcrty, and all Lazes iev~ed on the debt aerated hereby, and La furnish the -
<br />Mnrtgagee, ufron ~eque9t, with'the original or duplicate receipts tkerefur. The Mortgagor agn•rs Lhat there shat) t>P added `Lo - .
<br />each monthly payment retuired hereunder or-under the evidenco of debt, secured hereby- an an-,punt estimated by the Mortgagee
<br />to be su0•ic•ernt 'ta enable. the-MoitRagee'to pay, as they become due, ail taxes, assessments, and similar charges upon the prem-
<br />~..~ises subject thereto; ady ~tleficiancy because of the irsufficfency of such additional payment shah bo forthwith deposited ny the
<br />M<?rtgagor x•ifh ht '4tortgagee upnn demand tl the \1 [g rkee. Any de(au:t under thrti paragraph shalt lw d.emrd a rle[au}t in
<br />r2yment of taxes assessment, nr similar chars s require 1 1 r •under. -
<br />1! The Mortgagor agrees that there shalt also tee ended to each monthly payment of pnncrpal and i:rteresf required here-
<br />ndrr an amount ostima! •d by the Mortgagee to 6e autficient to enable the Mortgagee Lo pay, as it becomes due, the insurance
<br />remr m un any msu ranee pa}ie;y delivered to the Mortgagee. Anl' deficiency lwcause of the insuP,rciency of such additions! pay-
<br />ments shall Mt forthwith deposited b}• the Mortgagor with the Mortgagee upon demand by the h2arLgagec. Any default under' this
<br />pa'r'agraph shall tw deemed a default in {he payment of insurance premiums. Ff the }xdiro or policies c':eposited a:e sorb as 1n>me- ,
<br />,x•ners or al} risF. Im}ides. and the deposits am usuffieient to pay the ~ netts premmm, the Mortgagee may ai?ply the deposi! to
<br />pay premiums nn risks inquired to err insured by this mortgage.
<br />Fayrnent made t,y ihr Mortgagor unrl•~r the above haragraphc may, ai the option of the Mortgagee, be held'by it and
<br />commingled with other such funds „r its own funds for the payment ni suo6 itvma, and unlit sc, applied, such payments era hereby --
<br />pltdged ax security for 8,e unpaid balance nF the mortgage indebtednt _sa. -
<br />"to procure, deliver Ur, and maintain for the benefit of the bfortKagev during the life of this moetgagr original potvirs end
<br />ronewals tht•rtoi, drtivend at least ten days Fwftrre the expiration of any such ikalirirs, insuring against Cire and other ,-,--„ratite ~"
<br />3:azarcis, casualfirs, and continsencies as the htortgagec may require, in as amount equal !n the indehteitness secured Eby this ,
<br />blrrtgage. and itt c;rmparia aawpt ble to the h~ortgag°i•, wilt. loss pavable clause in laver of and in form acceptable to the 5lerga-
<br />geC. In ti:e event ~ ~: p+dt. ; is not renewer} on or txdore ? n clays of it expiraton. th._• Mottgagee may p[acure insuranr--e tin the
<br />improvement, pay the premium therefor, and such sum shall become immediately riue .+nd payable x-tree interest at the rate set
<br />Corth in said note anti paid seed shall Fw secured by this mortgage. failure on the part of fhe b2ertgagnr to furnish such renewals
<br />as are herein required ur failure to pay any sums advanrrd hereunder shall, nt the option of the blortgaget•, .~oasti bete a detauit
<br />under the term` of rhea mortgage- 2'he delh-e n- of such pahcies s}?all, in the event of default, cronstinrte an a~,Fnment of the an-
<br />earned premium.
<br />Any sums received by ehe Mortgagee by reason of loss or dvnage insured agaiosL may he n•[ained by the Mortgagee
<br />aexd applied toward the Payment of the debt hereby st'cured, or, at ehe• opti'~•t of the Mortgagee, such sum. richer whatty :.r is
<br />part may be paid over to the Mortgagor tea tw used to repair such buildings or h, buitd'nox' buildrrgs ut their purr ~v for an±~ -
<br />other pnrpou ur object satisfacter}• to the 3ortgagee without aR~ting the lien on the mortgage Fi,r the fait amount +rntred here
<br />by before such payment. ever tcx?k place.
<br />To pnxnptiy repair, restore or rebuild any huildins er improvement now „r hrrrafU•r on the Prernix~s whu•h mac la•
<br />come damaged or deaf toyed; to keep said premises in goc,d wndition and repair and fn•e from any mechanic's Iron tr ether lien or
<br />claim of lien not expressly subordinated Yo the hen hereof: oat to sutler c.r Pennrt any unlawiui use of or any ewisana• to esisf an
<br />said property nor to ,.smtiE waaEc or. said premises, our fn do any ether act whrrrt,y the property hereby eomeyed sail }rrCtrnrC
<br />- -teas valuable. nor t?, diminisir or impart ifs vat uc 6y anti sec r mi, sia , t r a.:t: t - tnpl}- w,th all :=•ttairements _ ra -- w-i{t-, rrptv.f -
<br />to the mortgaged premises and the use thereat. -
<br />"! hat xhould [he Pr:. ~ s !~t ;+n}' part i rt raker, ..r n<rmuf;,?rt by r+. v , ..r f•uhti<- tropes>vem<•nt e eaa - n
<br />-. p['aceuding, or under the r t.ht c. eminent drrn[atrn, ear rir ary ether Inanuer f:tt Str,ttgagt'-: ,l:azt br -e..t.Elyd ft.. all v.-rt~raa au:es, - _
<br />- awards. and arty nilrsr Psymeaf er txlief ttrrre(cr. and shat[ be en Eittcvt, at its option, to r,mateeae. ap4,eAr in sort pr*-=~ectifr in is. -
<br />_r r.~. ~ ......., A:.zA
<br />`~wn-- - -- -._-" ,,.s< s: tc, ;..aP~ xr:y ^.,,..r•~•:niar' cr sefLle:renf i.......nesEi::n w-i!h au.I: •ski::h rie;..a;is. 9!1 h
<br />_ . rs-rate any ,u-~uor, a, x~d=-° ~ -
<br />___rxxtzpeRSefeun._awarda, rlamaKtyc, right of action amt grece^ds err hereby aasiKnrcf to the htortttager, who n,ev< a£tee dedetMing
<br />tharefrcun sit -its axpernra. r~eaaa any moneys so ruewed ty- it ur -at?p{y the sstrte un any ncirtue+tn€sz a€curesi hereby. Thr !~ori= -
<br />gagor agrees to execute such further aesignmr nks a[ any anniten++ation, awaxls, damages, and right-s u[ acttun and pr:rceedx as the
<br />Mortgagee may require. „tip
<br />Thaf in case of failure W perform any of the +nve•uan[s hereto, the Mortgagee may do un the Martgagar's behalf eerrything
<br />so rnvananted; that the Mortgagee may also rlu env act it may deem nrcrssary to protect the tic•n thereof: that the Mortgagor wilt - °-
<br />repay upon demand any rtxrneya pairi nr disbursed by the hlortgager for any of the atu,ve purixxsss, and such motzeys fogetlier with ~~,
<br />interest thereon at the rate provide<f in said note shalt become sa much vriditionat inclatrtedness hereby srrursrl and may M in- ~''
<br />eluded in any decree Corectasmg this mortgage and Fx• fsaid out c.t the rents or pnxeerla uI +atr of said prerneycs if cwt athsrwiaa
<br />paid; that it shalt nut be okrligattxy uy,on the hlurtgager to inquire into the validity of any lien, encumbrances, or claim in ltd- -
<br />vttnciFig manays ae above authorised. Ewt nothing herein contained shall Fee ennstrued as reyuirtng the Mortgagee to advance any -,
<br />Trtoneye far any'euch •~ntrpoae nor to do any aM hrreuttdtr; and than Mortgagee shaft not incur any psreunat liat+iirty t?scausr of any- e -
<br />thintE it may do qr omit ter do hersutuisr.
<br />- In the avant oI the default by MurtgaEtur in {he payment of any installment. as required by the Note +r.-ure.l hereby. ot•
<br />in tits pertorntanea of Ehe ottligotwn in this awrtgat;r or in ehe_ note secured thereby, the htartgagee shall 6r enutt+`KI trx dxlare the -
<br />debt eectsred hereby due anti payable without nuEice, and fhe Mortgagee shall hs entitled at its opt&tn, witiu,ut notice, either by itself
<br />or. by d reeafEter io br appointed Ay the hwrt the reaC, arid-without regard to the adetluacy of any security for the frtdehtetineas se-
<br />rtieed Neeehhy; La-enter upon and-take paalseaian af' Lhe mortgaged ptemiaes, anti h? mllect and receive tM mote, :aausa ead profiEe
<br />- ffiereai; and apply the esrfre..~ess casts of-operaEU,ii -anti-mlteceinn, upon the -ltitiebtrdeieaa xetarred by this_luattgage Marti Triter.='
<br />-iraxarstratd prb£ibt`hei-a€-Imreby-a'ssigaa~-tu tiie I4fs,rfgaRee-as-£urthsr-aacuritY £or the paYrngnt o£ a!i indgbt._•dne=~a-ser_ursd-hrrt,liy.
<br />- - The MoNgt{gee ehail I{~Vf2 the power to appoint any agent or agents it may desire for the {TUrptrw of repairing said prom- -_
<br />- -isa, aetttiftg-.lien game;-mUectir~-the.raata, revenues and in+rroma, and it.maY pay out nt. said insnme ali exprnat~ inntrred.in rent-
<br />ing uod tnanagiris the acme a>xI-ot collecting the rentals lherefroret. The balance remaining, if any, shall bc• applied-toward the
<br />-..--.~_ot -Uur martCege indebteciae96_-This acalgnment is 40. terminate and bacatne nul4 and void upon miraas pt thin mmtgage.
<br />1...
<br />
|