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TFtE MQRTGAGOR EUR'I"fIER' Ct?V3M1`IAIV'I"~ AP!ID AGREE~•
<br /> ;*,. '•F
<br /> That tt}e '~~vinrtgst+rlr well pny'~"'iilrse inrtett£e~,ri'nk~us as:hgzennbefgrire- pltstV, e~, -
<br />~
<br /> That the Mortgago{ is the owner aF said property in fee simple and
<br />has good right and (awful authorit
<br />to se}I
<br />d
<br /> y
<br />an
<br />convey the same aad that the same is.free and dear of any Eien or egcumhrancr: and that i4tortgagor will warrant and def
<br />d th
<br />
<br />- en
<br />e
<br />title to said premises against the claims ofyatl persons whtxnaoever. ,
<br /> To pay immediately when clue and payable sl! general taxes, special faxes
<br />spr-vial as:,r ssmrnts
<br />water [bar
<br />
<br />}~'~ ,
<br />,
<br />ges, sewer serv-
<br />ice charge',, and okhertaxes and charges against swirl property, and all tax?+ levievi on the rlrt t secured here},y, and to furnish the
<br /> Mortgagee, upon request, with fhe drigina[ ur duplicate receipts th~refur. The Mortgagor agn•rs that there shall be added t
<br /> o
<br />each monthly paymr-n t. required hcre«mder or under the c=video[[, of debt secured herehc an amn:rnl estunat~~d 6y fhe• Mortgagee
<br /> ko }te sufficient to enable the Mortgagee to pay, as they become due>, ail taxes, assessments. and simi}ar c}eargrs u
<br />ton ±h
<br /> }
<br />e prem-
<br />ises subject thereto; any deficiency Mcaus== of the insu fficiruy of such additional •,a}~mr•nts shall hr forthwith deprKitad t,y the
<br /> bortgagor wrth the M1lortgagee upon demand bq the 3ortgagee Any default undo[ this pa u,grrlrh shall he +Secmr•d a de(arrh in
<br />-= payment of taxes, assessments, nr similar charges mquirr•d 6erounder.
<br /> 'Phe IYlnrtgagor agrees that there shall also he added t«e ea«-}, monthly paymrrnl „{ principal and interest required here
<br />~ under an amount estimated by the Mortgagee Gr he sufficient ter enable the hlurtgageo t., pa}-, ax «t !vcr=n-t<- due. (hr rnsu [wore
<br />~ premium cn :my insurance policy delivered *_o the Mortgagee- Any defcirnry lx•ra r:xe n( th<- tn~uffieiency of surf, arldidnnal pay-
<br /> mcnks shah he forthwith deposited by Lhe Mort„ague with for Mortgagee u}x,>n drn,anri by the Murt~agm- Any detault under Wis
<br /> }iaragrrph shall be deemed u drfauh in the payment of insu ranee premiums. If the p,~lir~y or pn6eies deposited .wee such as M.me~
<br /> owners or a!1 risk ix±iicies, and the de}xsik err insufficient iu pay th«• entire premium, the Mortgagee !nay apply th+_• dryeusit to
<br /> pay premiums on risks required to !re insured by this rnnrtgagr.
<br /> Payments made by the Mortgagor under the abrtve paragraphs may, at the= option of the Murtgage•r, i~r• hr4d by it and
<br /> commingled with nlher such funds nr its own Fundy for the payment of such items, and until sn appii«•d. suoh nay m+•nts are herr~t;y
<br /> plrrlged as security fur fhe unpaid hafan<•e of th«• mortgage indebtedness- -
<br /> Tb procure. deliver to- and n,aintaiu fi,r the benefit of the `vfury;ayee during the life of this mortgage original pot, ~~~ and
<br /> renewgls thenwf, detivemrl at 1+-c,nt ten days }>,•Inrr the ee'piralinn uC any such peelicirs, iavurinti aganst fire and other ~-. [able
<br /> hatarde, rasualfies, and r•<,u[ing~em•ics as the bTurtgaget may rer}uire, ih an amount equal to the indetrtudness secureei ;~y~ this
<br /> Mortgage'. and in rYerrr,,_+nu-~ ;:ccrptable to thr• Mortgagee, w-u 1: h„s 1;ayable clausr> in favor +rf an«T m f+,rm acce},{able to r}„ `.i„rtga.
<br /> gee. In the event any }•~dicy es not rea«•wrd on ur befnnr ten days of its expiration, the hq,~rtg7agee Wray prrxure utsurance ,+n the
<br /> irttp~avementa, payt}!+= premium therefor, and sue}: s::.n s}:all h~come rmntediaiefy due and }tayahle with interest at fhe• rat«• art
<br /> forth in said note until paid and shall [>r• .ecun•d by 4his n,nrttage. Failure un the part of the J-'.ortgagac t«, {,rrni,h sur-h renewals
<br /> as are herein required ur failure to pay env sums advaru•ed hereunder shalt. at the option of the Mortgagee. €--_nstitute a detault
<br /> under the ke--ems cd this mr,rY~aga. The clef iverv of serch phl isles shall, in tl,e event of default. n=Wrist ate an ti:i;,nmen*_ of the ~n~
<br /> earned premium.
<br /> Any sums received try thr• :Vf urtgagec by reason of foss or damage insu..d against may be retaine:i by the ~l+utga ~•ee
<br /> &rxi applie€t toward the payment of the dept ltrrehy secured, or, at the option ,rf the Mortgagee, such sum> either who{Iv ur in
<br /> part may be paid over to the Mortgagor to be used to rvpa,r such buildings or to build'new truitrlings ie, th.-ir place, «,r fire env
<br /> other purpose or object satis[actory tri the Mortgagee= without :e tf«•c•ting the fire on rho mortgage fur the lull amount =etu reel hr re
<br /> by Fre[nre such payment ever freak place.
<br />^ To promptly repair, restore ur rebuild any buildings or improvements now ,.r T«e reafter on the premses which may tv,•~
<br />' come dame ed or destroyers; to kec
<br />g p said premises m geld condition and repair and frr<• irum eny mechanic's b«•n ur other }ten or
<br /> cleim of lien not expressly subordinated £u the lien hereof; not to suffer ur permit any unlawful use of ar anc nutsaocr En oxist un
<br /> said property nor W permit waste nn said premises, nor to do any other act whereby the pro}tert..• hen•h=' cor,uvged she}I Fye.romp
<br /> less valuable, nor to diminish or impair its value by anc act or nmi+sinn tr. wet, to cumpty~ w~iih alt reyuirr•ments of law with res}tect
<br /> La the mortgaged premise=s wort the use 1.}rcreuf.
<br /> 'T'hat should the prrmis.•s err any part thrmof l:. taken «-r dartu:;ed by n•ason u( sn•: nut:{i,-- ur:uruvc-rnen: ~r cun_rc-Ware„z:
<br /> proceeding, ur under [Tee right of eminent rJranaiet, ,.[ rn eery vibe[ manrte r, the Al-. rt~at;r<- _t-a„ ~,«. eaUrlr•.1 t«t aft .umperE a[x-n,3-,
<br /> irxrt3s-: and wry oth[=r pay:~errt r~lxef t}-. ° _._' „};aTt ~>f ent=tied, .,i ~~, ._..+ tr c,.-:m-n: ,,r~, a„pear ;tt dr::, r..rr,r.i'<:[Ez sn `its
<br /> own name emy action or prrxeeriing, err to make any cumprurnisr or scttlr•nn•nt in cunnect:un with such takutx ur damage_ ~It such
<br /> cotnpenaation, awards, damagaw, rig:tt of action weal }:r~-.c-z3~3s- arm herefry assignr:# to the ~iortt:nger, who mar. a#ter dridurtinq
<br />- .therefrom-all~fis ercpesE~a, -reltas~ nnF moneys -so received by it or apply the same on any indebfednrsss secured ktereby.-The-Mart=
<br /> gagor agrees to execute such further assignments of any comttr'nsation, awards, damages. and nghts of action and pnxeeds as the
<br /> Mortgagee may require.
<br /> '('hat in rase of failure to periurm any of the ruver;ants herein, the Murtgagc•e may du un the ~h,rtgagor's h«~half everythtng
<br /> art covenanted; that the Mortgagee may also do any act it m:p• deem necesknry to protect the lien thr•r«•of: that the MoctgaKOr will
<br /> repay uptm deneand any ntrmcys paid or disbursed by the Mortgages for any of the above purposes, and sorb rmtneys together with
<br /> interest thereon of the rate provided in said note shall become, so much additional imtehterlnes.~: hrret,y a+.•ur«vt anri ma
<br />r he in~
<br /> ,
<br />eluded in arty decree toreclustng this mortgage and be paid out of the r:•nts ur pmceads ut sale of said prrmisr•s if not utharwise
<br /> paid; that it shall nut rte ubligatury upon ihr Pfiortgagin to inquire into the validity of arty lien, encumbrances. ur [-farm ,n ad- `- "
<br /> vanCi ntt moneys tsa alcove authorited, but nothing herein contained shall he. tunstrucd as requiriai; the lt!€trtcsc :• fo arisancr- any ~'~
<br /> mocwya !or any such purpose nor to do eny act hereunder, and that Mortgagee shall not incur any }ters„nal hsbility he•cnuse ,ef eny_
<br /> thins it may do ter omit to do hereunder.
<br /> In the event of the default by h'?urtgague in rho payment of emy installment, as required by Lhe N+_rte set.•arra trereby. ar
<br /> in rite performance of the rtbligafron in thin tnurigage or in the note secured thereby, the ;l9urtgagre shalE he entitiad tar declare the
<br /> debt ttecurtd herahp due acrd payable without natic~u, and the 114urEgagee shall be entitled at its option, without notice, either by itsr•H
<br /> or by s feeceiver to ba+ appointed by the; court thertmf, and without regatxi to the ader}uacy of any s+'-'rurite ter the indehtrrina~a se- -
<br />- cured -hereby, to-enter up[:rt-weld -take pr):tACSsitin~ ii#-the ttitirLgagaii-premises, and-tit mliect and rPi'e+ive the rents. isu.ues end profits - -
<br /> thereol, and-apply the same„leers crxata of operation and rallection, open Ehe indeh2rrtness .wti~urv-d try th£s mortgage.; said rents.
<br /> iseirea end profits being hereby-assigned to the Mortgagees as further security for the payment of all indehtr•rlne~s arrureri heral,y.
<br /> 7'he Mortgagee shat! have the pmrer to appoint any agent or sgr!nta it may desire [or the pur}wtse of rr•pairitrg :said pmm-
<br /> ises: reciting the same; collecting the rents, revenues and income, and it may pay out of said incY~me all ex}wnses incurred in rent-
<br />- - ing wort-managing fhe saxno-and-of collecting the rentals therefrom.-The balance remaining. if any. she}} t,i• applied toward the
<br /> diflcharge of the mortgage indRbtedness, This assignment is to terminate and become null and void uprm release u[ this mortgage.
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