|
' TsfE MOEf"]C'faElGd1R F"tJRTHER t~VEisfPi.TuTTS API;Ct' .sidF•1~"ES:
<br />- That the',i1v~t~rrCga,~am,~wi1R"pay the ittdehtefinx~s tall heretntr'Iofe~ jyr[~rspded... .
<br />'That the Mortgagor is the owner of said property in fee simple and i:as gorxl right and lawful authority Yr: sell -and
<br />cronvey the same and that the same is.free and clear of any tier. yr encumbrance; and that "vtnrigagor w•il} warrant and defend the
<br />title to said -premises agaitest the -aims of elf-persons whomsoever.
<br />Ta pay immediate)y wheti flue and 'payaSIe all ge'iterah taxes, special taxes, special aaus.m<•nts. water charges, sewer serv-
<br />- ice charges, and ether taxes and charges against said pmpc rty, and alt taxes levied on the debt sera rr+I hereby, and to furnish the
<br />},f~ i-fortgagee, [pan request, with the origins! or duplicate receipts tfrerefor. TF:e '11t,rtgagr,t agrrt•s that them chart he added to
<br />each monthly payment required hereunder nr under fhr evidence of debt securrJ hereh3 an amount estimated by the Mortgagee
<br />V.'C in he sufficienLta enisble the _1Vfnrfgager. to pay, as they beer>me due, a}i Wxes, as;._s~ments. and ~imuar c-hargt>s upon the prem-
<br />ises subject t.heretn; any defiriencc hecause~ of the insufficiency ut sar'n additions? payrnrnts shalt hc• k~rth+a~ith drsprrit~d by the
<br />- ~ _ Mortgagor with the Mortgagee upo r. decoded by the ~t:rtgagee Ary de>fau;: under This paragraph shall b.• rtr,•m.•d a default in
<br />A payment v£ taxes, assecsntentc, nr .cirri{ar charges required ht>rc>nndes.
<br />- 1~ TF,r 1R+>rtgagtr agrees ti~at therm shall also t>c added + each monthl'. Iatmen2 of {~,nncipal and infer-tit required here-
<br />- ~ un,ter an am .ant es[ mat ~d by fhr Ma.rtgagre to t„> uffici<•nt t - c table the 'start ~, t ; ~e to pay as tt };c~omo. d ,a, th+: irsurance
<br />- ~ premn:m nn any insu ranee policy delrvererl to the Mortgagee_ Any ti,•fici:-ncy becnusc of the ;a;~a.fficteney of such additional pay-
<br />trfentc ,haft tx> forthwith depositeri by the Mortgagor with the `rt ortga„r>c~ i:{wn rlrmancl by th,~ 4tortgag«~ Any do fa utt under this
<br />paragraph shall tae deemeJ a default in the paymt°nt of terse ranee premiums. If the ports-;; or policies rk•po>ifrd srr• such as lntme-
<br />nwners or all risk pr_,}iries, 2ud the deposits are insaffictent. to ; ay th•• entire premium, the ~tnrtgager may apidy the depa.'r2 to
<br />pav premiums on risks n•t{uin•d to he insured Hey thin mortgage
<br />}'ayrrenfa made 6y the ~tortgagnr unfit>r the ahu+~r~ pangrrhdts may, at the :q-rtwn rf 71„• St:.nga~er, hc~ hcL: ~n it ant
<br />commingled with other such funds or it:+ own funds for the pa,~ment r,€ .c:mh ite;us, an<: until eo applir.i..uch pa}mtent~ -tn~ _-. ;-rhv
<br />- pledged as security for the unpaid balance of Ute mortgage indebtedness.
<br />'I'n procure, fir-liver tu, sett maintain [vr the hrne.fi (. u[ the- bforigagee during the liftz of :his mortgage ,•ri,.rna! poiiries and
<br />- renewals then~f, deli..-red at. h=ast ten fides Ixrfore fhr espirati~ztt of arty such policies, insu rang against firs and „t hoe insurable
<br />hnzarrFs, casualties, at~+ contingencies as the Mortgagee may require, in an amount equal to the indebtedness sz-cured by this
<br />Mortgage. and in companies ace. a-ptnhle to the Mvrtgakee, with loss {,dyable clause io. favor of and nt form acceptable to the '.17ortga-
<br />Kee, in the event any policy in nbt renewed un or beta re ten Jaye cf its expiration. the btortgaree may p____-_ ., ~ura;;ep on the
<br />improvements, pay fhr' i~remium the refer, and such sum shall Fecamr immrdiatel }- des and payable with interest st the rate set
<br />- forth in said note until paid and alts}t FK• =crured by thh morrgag.. F'atlure on the part of the ~Sortgagor to furnish such renes^•als
<br />,mss are herein required or failure to pay any sums nd~.an•_ed hereunder shaS}, at the ~ptior: of the Mortgagee, eanstitufe a default
<br />under the terms cat this mortgage- TF,e cieFv - of such inaieie. shaft, in fhr ever.[ of default ~nstifute an assignment of the ur,-
<br />csrnerl premium.
<br />'~ Any sums rerai+.>d ity the !~t~=r e :;;<>e h>~ sr- n.:n :=f - os r':., . , e• inured against insu he retained by the bortgagee
<br />~ard applied toward the payment ,+f the dc•hi hereby secured, or. at the option of the Mortgagee, such sums either wholly or in
<br />part may }re paid over in the :Mortgagor to tae used f« renatr such uurldings ur to bu'.}d'nrw• buildings in [brit {dace or tar any
<br />- other purpose or object ,alisfactory to the Mortgagee :vi[hr:uP atfrrti ng the lien on the- mortgage for lhr fu!1 amount secured here-
<br />by before such payment ever took ptace-
<br />To promptly repair, restore or rebuild nny hu ridings a.r ,mpn:cemr•nl-s n _ ,~r hereafter un the premi,FS which may he-
<br />cnme damaged nr desfrvya=.t: to keep sat<t premises in ga*~ conJif3on serf rr~pr+!s a.^.d ,+rce fr+:m any mechanic's }ten rx a,th.=r tern or
<br />.. claim of lien not expressly sutwrdinated to the lien hereof. not io suffer ,+r permit nny unlaw[ul use of or am• nuisaetce to exist nr.
<br />_- said uroperty nor to permit waste on said premise-, nc,r to do any other act whe;~rtzy t}xr pro;~rfv hereby conveyed shat? heecrtzse
<br />'teas valuable, nor to diminish cr impair its vah;e by any act =,r r:mission t„ act. to ec=reply with all requirement-+ elf taw with -:-spec[
<br />- to the mortgaKrtl premises and the use thereaf_
<br />T}aat +hnulri the premic.+s ±r any part thereat M: taken r.= rtamagr~t bu rres_un of a - s:~hti. imisr'svemen*. yr sonde^naSirn
<br />- ~.prvCeedirtg, nr under the right of eminent domain, cr in any other manner, fhr ht r+gagernvh3ll Fta= e. titled *_± all .~_>m}zensativn=
<br />awards, and any other paYr<<ent ur ,~I,a-f th->rr•fur, ;s..rl }hAlt Ise rnt.tlczf, a tt~ apt,.,n, fz. ca,r~•.nrentc. -appeal in and prx?seeute in its
<br />-.- own nat^_N t;^_u action or prr~a_aedinY, ur to n,a_kr any rum(?r,_,_ntis~ or ettlErn.~nt i,: ,_,anur{ior, with ~ F: taking <xz aa..,;.g~ A,1 s,;;l;
<br />- - campensAtion, awards, damages. right of action and prxxeeds srr he.Phv aacignrd rte the Mortgagee, who mar after deducting
<br />therefrom alt irk expanses, ref@ase any maneys sn received by it or apply the san•te cn any inttehtettnet~ sec•umi hetctiy. Th~• Mott-
<br />gagpr agrees to execute such further assignments of any coin{>e naatton, Awards, damages, and nght., of setter. and irrcxe•+rts as the
<br />Mortgagee may require.
<br />That to es~e of failure to perform fury c,f fhr vvenantc herein. rho Murtgagrn~ rosy do on fhr lktortgagnr's behalf eeergthing -~
<br />-- so covenanted; that the Mortgagee may also tie any act it may deem ru•cessary to prated the lien thereof: fhat the Mortgagor wilt
<br />repay upon demand any moneys paid nr rlixhursed by the Mortgagee for any of the aFxsve purposes, and such moneys tngetiser with t•.°,
<br />interest lhertxrn at the rate provided in said note shalt become sn mu.•tr actditinnai mdabterloess hereby srcun•d and may he im
<br />ciuded Fn any decree foreclosing this mortgage anti tar paid out e+[ fhr rr. nt+ or pox eels of sale of said premises if nni otherwise -
<br />- paid; that it shut} nut Far ohtigafory upots the Mortgagee tr, inquire into the validity of any }tan, encumbrances, or a•Faim in ad-
<br />varcing maneys as above authorised, but nothing herein contained she!! he cettstruexf as rertufring the Mortgagee tr. advan..- any
<br />manaya for any such pursasa nor W da any act hereunder; and that Mortgagor shall nut incur any personal }iahility }x°causr of any-
<br />thing it may do nr omit to do hereunder.
<br />fn the event of the default by hlnrtgagor in the payment nE any installment, as rt~qufzed by fhr NvEe sea:u rest hereby, or
<br />in the Ix!r(armence of the ohligatitin in this mortgage or in rho note secured thereby, the !Mortgagee shall he entitled to declare the
<br />deist secured hereby due and payable without notice, and fhr hiortgagae shat) he entitled at its aptivn, without not}cr, either by itself
<br />ar by'a-rrceivet to be appointed by the trovrf thereof, and withuuG regard to the adequacy of any s+:.•ctirity ter the indehfectneas se-
<br />curerl hereby, t~ enter itpon anti take pi>stt^svnn of the mrirfaaged premises, acid to itolEect sett receive the rents, issues and proflta
<br />-thereof; and-apply the-earns. ,izss cttsty of operatit;n ant eollhtFen, upon the -irtdebtxtnasri saettred by this mnrigaga; saFti rents,
<br />issries and ptotlto'liein{( hereby assigned to the Mortgagee as further security for the payment o- all indehtednes<s secured harahy:
<br />The Mortgagee shall baud the power to appirint any agent or agents it may desire far the purlrose ut repairing said prem•
<br />ices, renting- the same; ctrnllecfing Ute rents, revenues and income, and it may pay nut of said income all expt•nses incurred in rent-
<br />zag and mat,agirig'the same and of collecting the rentals there#ivsm. TIFe balance remaining;"i7 ativ, shalt-Ere applied-toward-the
<br />discharge of the martgage',ittdabtedness. This assignment is to terminate and become null and void upon release of Chis mortgage.
<br />
<br />
|