|
T3•fE MORTGAGOR FC7RTHER COVENANTf; AND AGREES:
<br />That the Mortgagor wilt pay the indebtedness as hereinbefore provided.
<br />That the ,Mortgagor Ns thy owner of said property -in ipe ximpie and has good right aqd lawful authority. to sell anA
<br />rnnvey the same and that the same is free and clear of any Lien ar encumbrance; and that Mortgagor will warrant and defend the
<br />title to said premises against the claims of all persa,vs whomsoever.
<br />To tray immediately when due anti payable alN general fazes, special taxes, special assessments, water charges, sewer serv-
<br />ice charges, and other taxes and :.barges against said property; and all fazes levier{ on the debt secured hereby. and to tarnish the
<br />lliortgagee, upon requesf, with the original or duplicate receipts therefor. The Mortgagor agrees that there shah be added to
<br />each monthly payment required hereunder or under the evidence of debt secured h.•reby an am„unt rstimaterl by the Mortgagor
<br />to !>e sufficient to enable the Morfgagee to pay, as they become due, all taxes, a-+~sr•ssments, an+l ~i miler chnrgrs ut*+n the Prem-
<br />ises subject {hereto; any -deficiency Because of the insufficiency of such additional payments shalt be forthwith deposited by thy
<br />Mortgagor is!ith" the:'lbiortgagee-upon demand by the Mortgagee. Any default under this paragraph shall lee deemed a default in
<br />payment of taxes, assessments, or similar charges-required hereunder
<br />- The Mortgagor agrees that there shall also }ae added to each monthly pnymtnt at principal and lntPfP.v4 required{ here-
<br />under an amount estimated by the Mortgagee Yo br sufficient to enable ihr Mortgagee to pay, as st M•comra due. tlu• insurance
<br />premium nn any insurance policy delivered to the Mortgagee. Any deficiency }rrcause of the insufficiency of such addiuanal pay-
<br />ments shalt lee forthwith deposited by the Mortgagor with the Mortgagee ufxrn demand by the Mortgagee Any default under this
<br />paragraph shall tee deemed a default in the payment of insurance premiums. If the policy nr policies deposited are such as hum«-
<br />owners or ail risk lx,licies, and the deposits are insufficient io pay the entire premium, the Mortgagee may apply the deposit to
<br />pay premiums on risks required to tx insured by this martgage.
<br />Payments made by the Mortgagor under the above paragraphs may, at the option of the hiurtgxgre. be ixdd by rt and
<br />commingled with other such funds ar its own funds for the payment of such items, and until so applied, such payment, are• hereby
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
<br />To procure, deliver to, and maintain for the benefit of the Mortgagee during the life of this martgage original puiiri,~, :end
<br />renewals thereat, deiiverrvl at least ten days M•&rre the expiration of any such Pohcies, insunng against fim and other insurable
<br />hazards, casualties, and contingeneiea as the Mortgagee may require, in an amount equal to the indebtedrtese secured by this
<br />Mortgage, and in c+,mpanie.~ acrepGtblr to the Mortgagoe, with loss payable clause in favor of and in farm acceptable to the Alortga-
<br />gee. In the. event any policy is nut renewed on or trafure ten days of its expiration, the Mortgagor may prorun• insurance an the
<br />improvements, pay the prnmium therefor, anri such sum shall hecnrne immediately due and payable with tntrrrst at the rate sei
<br />forth in said note until paid and shalt tee secured by this mortgage. Failure un the part of the Mortgagor to furnish sueh renewafa
<br />as are herein required ur failure to pay any sums advanced hereunder shall, at the option of the Mortgagee. r-onstitute a default
<br />under the terms o[ this mortgage. 1'he delivery of such policies shall, 6r the event of default. c rnsnlutr an a-ssignment ut' thd• un-
<br />errrned premium.
<br />Any sums. n?ceived by the Mortgagee by reason of loss ar damage insured against may be retained by the Mralrtt[ageR
<br />and applied toward the payment of the debt hereby secured, or. at the option of the Mortgagee, such sumo yitFsyr whctii,y or in
<br />part may hr paid over to the Mortgagor to tee used to repaie such buildings or to build'new buildings in thytr place oY~ firm any
<br />other purpose dr object satisfactory to the Mortgagee without affotaing the lien un the martgage for the lull amount w•ru.red here-
<br />by before such payment ever tcxak place.
<br />Tu promptly repair, restore ur rrbciid any buildings or improvements now ..r hrrratter on the premises whtrh may be-
<br />come damageei or destroped; to keep said prxmises in grxxi condition and relrair and free fmm any m«chamc's hen or ut her Iron ar
<br />claim of iiyn nut ezprrsaly subordinaied to the lien hereof; not to softer or Irrrmit any unlawful use of ur any nuisantz• Fa exitf ern
<br />said property nor to permit waste on said prxmises, nor to do any other art whereby the pnrl,rrty hereby conveyed slash trenime
<br />Letts valuable, nor to diminish ar impair its value by any act nr omission to act: to oumply wath nli r<vl utrrmrnt, ~,i law w,th re•.v petit
<br />to the mortgaged premises amt the usa• thereof.
<br />That should the rrrmt,?rs nr anv wart thereof Lao taken -. -iamare.f hi- r.•n tt -f 2..r I.uhir,• ~n,~ - ,..ter +•=e. r:,,,,
<br />prrxerriing, or wtrler the right er( eminent domain, ur io nny other rnanmrr, the \turtgager ,hall hr enertled to all runtpyrraateurts.
<br />awards, and any rather payment oe relief therefor, and sba{t Fa entiNed, xt its upUun. to commence, appear in and prexuer,`uriia rn its
<br />owzi name any atr#ian or pr,-.x-ea=dins, rr to maky anv c„mtrn,rniar o o«4tlyment in connrciion wiift such t-akinK yr dame. 4It atteh
<br />t:tutttunsakian, awards, clams; .~, right of action and Prrzei ~s are hereF. arsrgn~rl to the kiortgagee: who may, after ,s'1!7tuCiirt¢
<br />thrr~frunt all its ex;•rnsrs, release any moneys su received by it o; apply itt« =arrr un ally ,rsdt•btedne.s se•c•ur«d beret y, `f'hr~ 11ort=
<br />~~€ ;sty i,. ,~.£-e.~ - _ ,, ,.,r..,~r A .,r.,.~ .,. t , .., . „ ..~, ,, ...~„ . ,-, ,.. ,, , . . r•.. ,-.
<br />Mertgagrte mat require.
<br />Thal in capt+uf [ailuYy a, perGarrn ant of the cuvcnants hear.*ut. the Mortgagor: may du on the Murtgagur's trrltalt raesvthtng
<br />ao covenanted; that the Mortgagee may also do any a.:i it may doom necessary to tarot«ck the hen theri•af; tiwt th« Mortgagor will
<br />repay upon demand any moneys paid or distw rxavi by the Mortgagee for any of the atxavy pu rprwrs, and suc}t mcurrys Koxet}ier with
<br />interesaL thereat: at the rata txavided in said nuts= shall tx~rnme s, nu<-h add,4,ma1 ,udrhtr;hr, ~-~~ hor.•h. .~. ,.., ,. -.,, +, tx• i
<br />eludFd in ant dricrey [or«closing thin tauvtgage and ire paid vat oY the ren6s ar prua•eeds of sale- at sold prrrau.ra i; not'atherwise
<br />paid; that it shell not bo oWigatnry upon the Mortgagee to inquiry iota the validity n( any lien, eneumhranc~r•s. or claim in ad-
<br />VatKiltg moneys as aton=e authurixi<d, but nothing herein runtxina•d sh ~aif t,e ronvtrnrd xs rerpririnR tfie R1~rt+; ns'•• r++ <a+{,-voce ,env
<br />moru+ys for any such purlxntu oar to do any eel t:rrru ndrr, and that Mortgagr,• shall r:ot nx•ur an'r Ik'rxonni hahchty F.«~r..u,,:-:,-.d ant--
<br />thing it may do ut umtt to der hereunder.
<br />In the event of thy default by Mortgagor rn for payntynt of any mstulimont, as required by ihv Nut« srcurer.,l iaeraby. ur
<br />to ttta pertumtance of the ubhgatt{rn in t.hts mortgage +,r rn thr• nuts secured thereby, the Mortgagee shah Ire rntitlavf hr cNytlar« the
<br />ricbk scettred hereby duo anri payable without nutn~e, and the :+iurtgagr•e shall by entitled ai its option, witfivut notrcr•, either by itaelt
<br />ur try a reastivpr kcr t_,+• apt>,rinktxi by the court thrrrk,f. and widtuut regard ko the adrquaey s,t any securty fur th+• ,ru~etrie•.Ine~s :+«
<br />cured hexahg, {o enter u{ern and tbiky Frossraaiun rat the mortgaged premiaea. oral t<r ca[lret and receive the rynta, {sears oral profits
<br />ihteraut, and aptaly the same, .less cca,±ta ut opyrakiort and cutlrr•tian, u{x,n the indrbttvinysx secured lay this mortgage; said rents.
<br />iaeues acrd prttfite teeing hereby asxigncki to the Mortgagee as further !security fur the Itayment v( al! indebtedness srcurtsN k+ytyby.
<br />`i'Nry MOrt6aftrL' SN1Aii hAYe [}t! poesy! to aplkalYkk ant agent nl a(eynka it knay d@{ire ft7r kite nut Pcasa t1f ra•pairntg toile{ Nsr>•m.
<br />ilea; renktng the name, rnHeeiing the rents, revenues and im'rrme, and ik may pay oak ut said inaume ail exprnays mcurrrci in rent-
<br />ing and managing the name and of cultec4ing t}te rentals lhrreftank- The haiance~ remuinsnt;. sf a ,heel{ '„ .rr-t~1~+•,': i.,w..rd the
<br />diarharge of tNm martgage itttN8hLe3ciness. This assignment ix to trrtninak« and ktee+>mr troll and vtridtutx,n rrirn*.- cd them nturigagr_
<br />~~
<br />
<br />
<br />
|