|
f=
<br />TtfiE INCi,ItT!GAC;d)Ft Pflf'tT°FI7~T? C!bY~$IdANT3 ~Il~gy,..RtCI,KEF'^• ,
<br />Ttdat the Morf~agsr twill pay'ihe inctaRateitrd,rsa as Item~tfl~dryrW'~~~prw+tled,.
<br />~~ That the ~'.Wlozi,gag+on, aB~ ~t~ha owner of said ~yirroperLy '.in f~ z ~ irr!;nlr hd'.:~~ajt ~i I iri!g~tt and tawfwl ~avt'honty irro i.yli axid~ ~ i
<br />convey the same~artd that the i~me is tree sad rlearuf any lien-pr enc,.irnhrartce; azxl thak .Mnngagor will warrant at.s defend the -
<br />tilde tc said premises against=the claixm of a(l-"pesaona cut-`^-~~-^--~r. -~
<br />To pay iinmrdiately when due and payable elf 'general taxes, special taxes, specter assrse+ments, water charges, sewer sere-- -
<br />ice charges, and other taxes and charges against said ptriperfy, and all faxes icvizh nr, the debt secured hereby, and tr, furnish the -
<br />Afnrtgagee, utsoii'request. =with -`the original er-t3uplicate ri~ceipt: thErefur. The :Wongag9r agrees that there shall he -addP.d' tai -
<br />east: monthly payment required hereunder or under the evidence of debt secvrzd Berehy an amount estimated By the Mortgagee - -
<br />tv l~ suAScieiit -W- enable the--'ltifortgagee- ko pay, as the=y become due, alt 2ax:ts; asscssanents, and similar charges upon the-preen-
<br />rsv_s subject thereto;' any deficiency Because izf the ir~ufficiency of such add,'fional payments <ha31 be forthivitl- depnsiLzd by tBr - - -
<br />Mortgagor with the Mortgagee upon demand by the= :Lfnrtgagee. Any default xxnrir_•r this paragraph shat! hz deemed a default in
<br />. -payment of taxes, assessments, or similar charges requirzd hereunder. - -
<br />Thr- Mortgagor agrees that there-shall also be added to each munthiy payment of principal and interest requited here-
<br />under an ,rrnount estimated by the 14fortgagez to be sufficient tc enable the Mortgagee fc pay, as if becomes rive, the insurance _
<br />premium an . ny insurancz policy detivere.l to the ?yfortgagee. P.ny deficiency because of the insufficiency of ^uch additional tray-
<br />menu shad i5e forthwith-dzpns+ted By the Mortgagor wifh the Mortgagee upirn demand by the Mortgages. Any defautt`vrrder this
<br />" i paragraph shall be deemed a default in the payment of insurance promiutns_ lE the tx+licy or policies deposited are such as Frnme-
<br />~ corners or aI1 risk lx>lir_ies, and the t!zpusits are insuffcienf to pay Ifie entire nrrmium, tl-ie Mortgagee :nay app}y the dr-push to -_
<br />pay premiums on risks required fo tx insured by this mortgage. -
<br />Payments made by the Mortgagor under the about paragraphs may, at the, option of the Rortgagee, bz held by it and
<br />commingled with other such funds cr its own funds for tBz payment of such items, and until sa appfizd, such pa',~ments are hereby
<br />pledged as security for Lhe unpaid ha~nnce of the mortgage indebtedness. "
<br />Tn procure, deli: as to, and maintain for the benefit of the Prfartgagee during the life of this mortgage original ;r--Lri•~, end
<br />renewals thereof, dative rd ai ire-. t n days lxfom the r•xpiratior, of any such policies, insuring against fire and other zrsurahle -
<br />harards, casualties, and enntingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br />Mortgage. and in compann•s acceptaBle to the 4tortgagee=. with krs payable clause in favor of ar,~i in Iorm ac~pteble to the Mortga-
<br />gee. lr. the event any {;u{icy is nut reneuevf on nr Before ter; days ,+f its expiration, the \Qortgagee may procure insurance on khe -
<br />- improvements, pay Lh- peemiurn therefor, and such sum sha!1 Bzcume imrnedratetp due and payable with inizrest ak Lhe rate set -'
<br />forth ir: said note unlit paid and shalt tx' secu red by tt.is mortgage. Failure :,n the part cF the Mortgagor to furnish such renewals - -
<br />as am herein required ur failure tc pay any sums advanced hereunder .halt, ai the option of the lVtorfgagee. cconstitutz a default
<br />'under the terms of this mortgage. The delivery of such poP.cies shall, in thv event of default. constitute an assignment of the un-
<br />earnerF prrrmivm. - - -
<br />'. Any sums received by the Mortgagee By :easen of toss or damage insured .:garnet may be retained by the Mortgagee
<br />and applied toward the payment of the debt hereby secured, or, at rite option of the Mortgagee, such sums either wholly or in
<br />~~ part may be paid over to the Mongagor to lx: used to repair such buildings or to build new buildings in Ebert place ar for any -
<br />' oTher purpose or object .satisfactory io the' if ortgagee without affecting the lien on the mortgage for the full amou-nt secured here- _
<br />By before such payment ever took place.
<br />- T'o promptly repair, restore ur rebuild any buildings or improvements now E,r hereafter on the premises which may he- - -- -
<br />come damaged or destroyed: to keep said premises in grwd condition and repair and free from any mechanic's lien or other lien ar -
<br />claim of lien not expressly sutx~rdinated to the tien hereof: net to suffer or }xrmit any unlawful use of or any nuisance fo exist on
<br />said property nor to permit waste cn saiel premises, nor in do any other act whereby the property hereby conveyed she!! }>ncome "
<br />less valuable., nor to diminish ur impair its vahte By any art or omission to act; tr, comply wifh all requirements of law with respect __
<br />to the mortgaged premises and the use thereof. -
<br />', That should the prnmise•s or any pan tLerroi Ix' taken .*r r}an.aged by r~•asun ci anc public improvement or condemnation-
<br />, proceeding. ur under Lha:•, right of eminent domain, e,r in any other manner. the Mortgagee shall Bc entitled to all rnmpensations,
<br />_ _ awards, and any other payment or retitf thrrefvr, and shaft he entittr~rl, at it± option,-ta c~nrneence. appear-in-and prex~~uta in-yfs=- -
<br />' caxn n:.rtie an :° ac'tiun ur prc~.eedirg, err fo zraka env ;` r,gnrrrr_z or -~€ttemcnt ;e, «. ;n;=cttcm xitl suer taking tr dafr:agz. All sorb
<br />-campeilsetion; awards, damages, right of SCtiun and proceeds are hereby assigned to the Mortgagee, who may. after- deducting ~-
<br />tltaxftvtrt air its expenses, release any-moneys su received by it-ur apply- ttte same reel any-indahtednass-secured hereby... _F~_Mort---
<br />-_---: gages-agrees-td-e><acttc~ avhh-~urkher_asr+ignmerit.4_-of-env-~rnpensatime:-awards. ~iar-rragzs, and-right> af-att_i+,tt and__xsroce-~r1s_as-the--
<br />Mortgagee may require.
<br />That in esae of failure to perform any of the covenants herein, the Mortgagee may do on the Morigagcir's behalf everything -
<br />so covenanked; that the Mortgagee may also do any act it may deem necessary to protect the lien thereof: that the Mortgagor wilt
<br />repay upon demand any moneys paid ar disbursed by the Mortgagee for any of the alcove purposes, and such moneys together with
<br />interest thereon-at khe rate- provided in said note shall become so much additional indebtedness hereby secured and may'he in- •
<br />eluded in any decree foreclosing this mortgage and tee paid out of Lhe renl_c ur proeeeds of sale of said premises ft not othztwise' rk~v -
<br />- paid; that it shall not ire obligatory open the bfortgagze to inquire into the validity of any lien, encumbrances, or claim in ad- "
<br />vancing motleys as alcove authorised, but nothing herein contained shal3 be canstruerl as requiring the Mortgagee iv advance any ~`;<
<br />monaya.fdr any.such "pttrpuse axle ta-,do,any act hereunder, and that :Mortgagee shall not incur any personal liabileiy,"because of any-_ _
<br />thing it may do or omit to du hereunder.
<br />- - In the event t>f the default by-Mortgagor in the taayment of say ins[allntant, as requiter! try the Note secured hereby, nr, ~ --
<br />in thy. peHormance of the ohligatioti ih this morkgagz or-in the note secured thereby, the Mortgagee shall Be• entitled to declam the < -
<br />debt secfti'ed hereby dire and payable without notice, and Lhe Mortgagoo shat! he entitled at its option, without notice, either by itseif~
<br />or by a receiYer to bz atrpuittteri 6y the court thereof, and without regarrl'to the adequacy of any security Jbr the fiulebtedneas se-°"`~
<br />Doted hereby, to-enter upon aitd lake pdstiesh'ioi'o1'the rttt+rfgaged premises, end to rnliecf and receive tlte'rznla; issues atie3 profile-
<br />t~nereot,ittxt~_aPP~Y rife same,lesa costs of otieratioit anterrstleetian, itpnn the'indeltedrtess secrrri~d 6y this tnortgag~ said rcttts:`
<br />issues and i2t_lieeisg hereby ssaig+red-to Ll~Moet~agee-as further at~tirity-for the.-payment of all indebfedne~; seeurett herohy.
<br />- - - Thor"-Mortgagee Mall-haue the--..power.tu appatnt any agent ar agents it may desire far the purpose of repairing said preen-
<br />- ' n ex-and it may pay oat of said int~me all expenses inettrred in rent-
<br />iaea;:~Ating#hff_aantte: collcc;trig=ttku.;amts, revznues and,-i com
<br />ittg and `managing the same aad of call"acting the rentals therrtrom: The Balance remaining, if any.. shall he applied toward the
<br />_.. -
<br />rliae'ltarge of the mortgage igd~BtEdnesg. This assignment is to tarrninate-and-become null and-void upon. release of this mortgage.
<br />
<br />
|