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79-~ ~i~ `
<br />..,,~t+m.' ~"r
<br />I. The mortgagor covenants and agrees as follosce:
<br />a. He will promptly pay the indebtednesu evidenced by said premieeory note at the tames sad in the
<br />taranner thore%n provided
<br />b. $e will pay all fazes, aseesementa, water rates, sad other governmental ar municipal rhargea, Snee, or
<br />impositions, for which provision has not been made hereinbefore, and will promptly deliver the offieisl receipts
<br />Cher+efor to the said mortgagee.
<br />c. He will pay ouch expenses and fees as may be incurred in the protection and maintenance of said
<br />property, including the fees of any aLOrney employed by the mortgagee for the collection of any or all of
<br />the indebtedness hereby eacured, or for foreclosure by mortgagee's sale, or court prviceedinge. or in any other
<br />litigation or proceeding affecting said premises. Attorneys' lees reasonably incurrea in any other way shall be
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the request of the mortgagee, its suc-
<br />cessors or assigns, he shall execute and deliver a supplemental mortgage or mortgagee covering any additions,
<br />improvements, or betterments made to the property hereinabove described ~ nd all property acquired by
<br />it after Ehe date hereof (all in Iorm satisfactory to mortgagee). Furthermore, should mortgagor Eail to cure
<br />any default in the puyment of a prior or inferior encumbrance on the property described by this instrument,
<br />mortgagor hereby agrees to permit mortgagee to cure such default, but mortFa„ee is not obligated to dc. ;o;
<br />and suclr advances shall hecom~ part of the indebtednesv secured by this instrument, subject to the .game
<br />terms and conditions.
<br />r~. Tire ria~hts created br this conveyance shall remain in full forte an~i effeM during any postponement
<br />or ex¢e~nsion of the time of payment of the indebtedness evidenced by said promissory note or any part thereof
<br />secured hereby.
<br />(. fir, will rontinuously maintain hazard insurance, of such type or types and in such amaunta p the
<br />mortgagee Wray from time to time require err the improvement4 now or hereafter on said property, and
<br />will pay prornpdy when due any premiums therefor. All insurance shall be named in companies acceptable
<br />to mortgagee and the policies and'renewaht thereof shall be held by mortgagee and have attached thereto.
<br />loss payable clauses in favor of and in fotut acceptable to the mortgagee. In event of loos. mortgagor will give
<br />immediate notice in writing to mortgagee, and mortgagee may make proof of lase if trot made promptly by
<br />mortgagoq and each insurance company eonecraed is hereby authorised sad directed to make payttaent for such
<br />lop directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, ar any
<br />pant thereof, may be applied by mortgagee at its option either to the reduction of flee indebtedness hereby
<br />seeared oz to the restoration or repair of the property damaged or dutroyed. In event of foteclowre of this
<br />mortgage, or other transfer of title to s:id property in e:tingtrishmeat of the indebtedness secured hereby, all
<br />right, title, wd interest of the mortgagor in and to say insurance policies then in Force shall past to the
<br />purchaser ar rnvrtgagee vr, at the option of the mortgagee, may be surrendered for a refund,
<br />g. lie will keep all buildings artd outer improvements on said pregertv in gaol regain sad condition;
<br />will perurit, catttmit, or suffer no waste., impairment, dttoriaratian of said proprrty ve say Bart thereof;
<br />in the event. R,f f;rilure of the ntaf-tfagc:r to keep thg bu,ildistr_ on pid pr°rrti~es and thaw tr~'ttd oa said
<br />premiers, ar improvements therwn, in good repair, the tnortgaget: may mak=; atteh repairs p itt its die€retioait
<br />may deem neccsaary for the proper prexrvation thereof: and the foil amount of each and every such payment
<br />shall be immediately due and payable and shall be secured by the lien of this mortgage.
<br />h. lie will not voluntarily create or permit to be care seed against the property subject to this mortgage
<br />sny lien or liens inferior or aaperior to the lien of this mortgage without the written rnraent o[ the mort•
<br />Kagee; and further, he will keep and maintain the same free cram the claim of all lretsone supplying labor ar
<br />materials tar construction of any and all buildings yr improvements now bring erected ar to he ereettd on
<br />said premiers.
<br />i. lie will not rent or assign any part of the rent of said mortgaged p'ropertv or deneolish, or remove,
<br />or substantially alter any building without the written consent of the mortgagee.
<br />j. All awards of damages in connection with any condemnation for public use of yr injury to any of the
<br />property subject to this moriKage are hereby assigned and shall be paid to mortgagex, who may apply she
<br />same tv payment of the installments last due under said note, and mortgagee ie hereby authori:ed, in the
<br />Warne z3f th= ntortgagar, ttt execute and deliver valid acquittances thereof and ro appesl from any such awsrd.
<br />k. The mortgagee shall have the right to irupeet the mortgaged premises at any reasonable time.
<br />2. Aefauit in any of the covenants or conditions of this instnrment or of the note or loan ugrrement secured
<br />hereby shall terminate the mortgagor's right to possession, use, and enjoyrneni of thr. property, at the option of the
<br />mortgagee or leis assigns (it being agreed that the mortgagor shall have each right until default). Upon any such
<br />default, the mortgagee shall become '.he owner of aU of the rents and profits uceruing after default as security
<br />for the indebtedness secured hereby, with the right to enter upon said property for t{ne purpose of collecting such
<br />route and preSta. This instrument shall operate as an assignment of any rentals on said property to that extent.
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