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s11 Jobe, obligations anJ liabilities imurrod by reason of any action taken by the Mortgagee, as provided in this Paragraph, al!
<br />of which amounts so paid by the )sfarigaget, with inttrtsr thtrean frr.m t'ht d:,re e,f tarh such payment, sF the rate of three pcretn:
<br />(370) per annum, shall bt payable by the Afapgag.n to the Mnrtgagar as demand and shall be secured by this Mortgage.
<br />4. No building or athtt siruet;ure nr im}s:rovement, (i'zhtrr nr prrsnrral prr~perty mart~Rjed }tereby shall~bt removed or
<br />JrmotishcJ without the prior written consent of the hfortgags _. The Afartgagnr wilt u~,t make,-permit br f~ttfrtr any xlteralion 4f
<br />or addition tcs any building nr ochre uru:n,rc nr improvement now ar which may hereafter he erected or installed upon the -
<br />mortgaged propvry, or any par; thereof, except the improvcmrntt required to br made pursuant to Paragraph ) hereof, nor
<br />will the Dfortgagar use, Or permit or suffer the ate nf, any of the nulrtgags;l property (nr any purpose other than the purpast
<br />or purposes for which the same is now intenJ€J to he usrJ, without the prier written consent of the Mortgagee. The Mortgagor will
<br />mainuin the mortgagal property in good rendition anJ state u( repair and will n:.t suffer or permit any waste to any part thereof, and
<br />will promptly comply with all the requirements of FeJtral, state aoJ loo) governments, or o! anp departments, divisions or
<br />bureaus thereof, pertaining to such property uc any part thereof.
<br />S. The Mortgagor will not voGcntosily create, nr permit nr Suffer to he created or to exist, on or against tht mortgaged
<br />property, or ^ny pxrt thtrruf, any lien suprnar to the lien of dais MnrtRa f,C, ixCIIIL Vt of the lien or liens, if any, to which
<br />this Afoctgage is txpressly subicct, as set forth in the granting clauu shove. anJ will keep and maintain the same fete from
<br />- the claims of all parties supplying labor ar materials which will enter into the eanstrurtion ar installation of the Improvements.
<br />6. (a) The Mnrtgagar will keep all Fmildings, other stnschirrs and impravemtnts, inrln•ling equipment, now existing or'
<br />which may 6ercaftet hr crccteJ ar insiallaJ un the IanJ mortgaged hcnhy, leveed against lea. f;y fire anJ other haaards,
<br />caswlties and contingencies, in such arnaunts and manner, and for svsh perio,ls, all as may he rtquised Gem time to time by
<br />the Afortgager. tentess otherwise «quircd by the Mortgagee, all such insur.m.c +lnll he effectcJ by Sundard Fire and Extended
<br />rY- Coverage [nsurance policies, in amounts not its. than ntcrstary to comply with the cninsuranre clause percentage of the value
<br />apptiraMt to the f~xatian and characac•r of the pn,prrty h, he ruvrml. All cosh insurance shall he rorrieJ in rompanin approved
<br />by the Mortgagor and all polls its therefor shall he In surit form and shall have atcn hnl thereto lass payahlt clauses in favor of rite
<br />Mortga};cc utJ any orbs p:u tics as shall be satisfactory hi the Mortgagoo All such palates and attuhnicnts thereto shall, ht delivered
<br />promptly to the hfurtgagte, unless they art rcquirrd to he drliven•sl to the holder n(a lien n(a mortgage or similar insirw
<br />~ rotor to which this Moetgage is expressly sabjcrt, in which Iatte•r te<•nt acrtiG,vtr. thereof, satisfactory to the Atartgageq shall be
<br />n delive«d prampuy to the Isfortgagrt. The hfarigagar will pay promptly when duc•, sa hereinafter prnrided, and anp :nd all
<br />premiums nn such insurance, and in every rase in ss~hich payment tht«nf it not n,sde from the deposits therefor rtquFtd by this
<br />Mortgage, promptly submit to the ninrtgagee far examination receipts nr ochre rvitlence of such payment as shall he satisfncton
<br />to the MMtgagee. 'the Mortgagee may ahtain and pay the prcmimn nn (hut shall he under no obligation to do so) rutty kind Of
<br />inmramr rcquirrd he«hy iF the amount of such prrnrium hat not brut drpnsitrd as required by this Mortgage: in which Trent
<br />flu Dortgagor will pay to the Atortgaget every premium sn paid 6y the Afortgagte.
<br />(b) In the event of foss or damage to the mortgaged property the Mnrtgagnr will Rive to the Mortgagee immediate notice
<br />tlsrreof by mail, and the Hfnrtgagte m:sy nuke xnJ file proof of bass if not rnadc nthenviat promptly by or on behalf of the
<br />Mortgagor. F.ach insurance mmpanr issuing any sorb pnliq• is hereby .arthorired and directed to make payment hereunder for
<br />such loss directly to the Afnrtga geq inuciJ of to the FkxtgaRM !nd the MnrtRaRtt 1~,itt/ly. unless the amount of fors is pay-
<br />able lint to the hofdec of a lien under a nsortR:ege nr similar instrument m which this MnrrRa RC is expressly subicct; cad the
<br />insurance proceeds or any part thereof is rNel,'fd by the isfnrtga¢ee may he applial by the Mortgagee, at its option, tither
<br />in reduction of the indehtcdness 6er`rhy seru«.1, at to the rrstoradnn rat repair of the mortgaged property damaged. In
<br />' the event of foreclosure of this Mortgage. nr of any era ns(rr of title to the murtgsgeJ property in extinauishmtnt n( such indtbt-
<br />edntss, all right, title and interest of the Afortgagar in and to curry su,h inaunnct paltry thtn in farce, subject to the tishb
<br />a n.l inttrtsr of the holder of any such prior lien, shall pass ro the grantee aatusring tilt to the mortgage) prnpcrq together rich
<br />wrh pahcy amt appropriate assignment of such right, title and interest sabiJt shall hr nude by the Mnrtgagar.
<br />7. (a) In order more fully Io protect the security u( this Isfortgagr, the hlortgagar shall deposit with the Mortgagee to
<br />Rethcr xiHr, and in addition to, the payment of principal and interest monthly un acrnunt of the Note secured hereby, anti)
<br />the Nate is paid in full, an amount of wonty equal to the total amount of (i) ground rtma, i( any, nett becoming dot, (ii) the
<br />pr€ntiunts next htcamir.R Jur on the p»licirs of fire anJ all other hazard insurance rcquirrd by this Marfgagt with respect to tbt
<br />mnrtRaRrd property, (iii) taxes, assessments, water rates xrsd athrr };sn~etnmrnrsi t}.atg.°s- next becoming dot on the martgastd -
<br />property (all the foregoing amounts as estimated by the Mortgagget and set forth in a written natiee of such estimate by the -
<br />Mnrtgagrt to the Atottgagnr from time to time), les< all amounts that may altcsJy have hero paid th€zefer, diridtd by the number
<br />oaf calrmlar months to elapse htfort s+nr ralrnJar month prior to the Jate wham such ground rents, prtmiuma, taxes, assess-
<br />men[., water rafts and ether gnvrrnm€n!a! :Is,sr Rrs, rrspts_ttrtly, wilt h=: r+=rot Jut anJ paya)slt If any amount reftrrtd fa in
<br />- elausts (i) through (iii) hcrtaf is rcqui«d tct he depositcJ by the Mortgagor under a mortgage or similar n~tsurt~nt Jsav~tg
<br />priority o-ter the lien of this Mort,Ray;r, the Marigag»r shall make the drpasit+ ny»irrJ by this Paragraph 7 only in rht errnt of the
<br />-- -~ ---trtminairrsn of-such ahligaticn-vnsler the prior mnrtgaEe or similar iitslri,t^ent- 7'he Mnrtgr Rue shall give prampi notitt in writ- _- _--
<br />ing rat Use Atnttgagtt of lht occnrrenre of tht last•tnrntionrJ event. All such amount< sa Jtpo<itrd with the Mortgagee shall bt
<br />herd by the Afnrtgagee, or any agent dexi,gnateJ hr it, in trust to I+e used only far the payment of Such groan) refltt, premiums,
<br />taxes, assessments, water rates sod other gMYrnmMtal charges. Nn interest shat! ht hayahle by the btnrtgagee un any sum w
<br />Jtpositrd.
<br />(b) AIt amounts rcouired to ht depasittJ within the T+tortgaget monthly in urnrdan<e with Paragraph y(a) hereof, arsd the
<br />amount rat principal and interest In ht paid cub month nn atmunt of the Nett, shall ht addnl together, and the a}tgrejatt amount
<br />the«nf shall bt paid 6y the Iskxtgagm In'the Dfartgagee in a singlepapment t+s ht applitJ by the Mnrt~agte on acrnunt of tint
<br />indrhtcdness of the Mnrtgagar pursuant to the Note anJ this Mortg.tgr (ta the extent that monies art available from Me
<br />amount so Jtpositrd), in the alder, any prnvisior, of the Nolt to the rnntavy notwithstanding, as follows:
<br />FIRST, to ,fie lair rhargts, if an}•, «GrrcJ to in the Nn«;
<br />SF.COIv*(), to the amount of tu.h gcaunJ rtnt<, if soy, flit anJ other hsrxrd insurance premiums, taxes, assessments, meter
<br />rafts and other gortremental rhugcs required to ht paid under the pr+sviVOnt at this Mortgage, in whatever atquence the
<br />Mangagtr may exsJusivrly dettrroine;
<br />Tlf-Rf), to interest due nn the Nate; and
<br />_ _ F011RT11, the' rensa(ndet, to [Itr_ principal Jut un the Natt.
<br />Any Jrficitncy in tree amount n! anp such :Rgrrgatr tarsntJdy papmcnt shaft, unit+t paid by the Mortgagor prior to the due date of
<br />the next such depmit payahlt, constitute an event of default under this Mortgage.
<br />(r) Any excess funds that may hr accumulated 6y «nnn ut the drpnait+ regoired under Paragraph 7(a) hereof, reatainlag
<br />after paymmt of the amounts dexrihal in Clauatl (i), (ii) and (lit) thrrto(, shall ht credited to suhaequtnt rnptctive monthly
<br />amounts of Ilse same nature requircJ to be paid thermndn. }( anp such mm~unt shall exceed the utitnate therefor, the MotE$ajor
<br />shall (prthwilh pap so the Mottgagtt the amount of wrh dcfiutnry upon written eerier by the b(artgxgte of the amount thereof.
<br />Failure m Jo so before .the due Jat~ of such amount shall be an cv~, + of default under this Mortgage !f the mortgaged prop•
<br />crty is sold under foreclosure- or is otherwise arqui«J by she -AfongaEtt, afar default by the Mortgagor, anp remaining
<br />balance of the accumulations under Paragraph 7(a) hereof, shall be crtsfited to the principal amount owinj on t?.~ Nose a of the
<br />date of commencement at tartrlaanrt proxecdings for she mortgaged property, or a of the dare the mortgaged property is
<br />otherwise so acquired.
<br />8. 'The TmprovtmenN and all plans and sptai(ications therefor shall comply with all applicahit munkipal ordinances, regw
<br />tattoos, and rules made or promulgated by lawful authority, anJ upon their romplrtion shall comply therewith.
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