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<br />THE MORTGAGOR FURTHER COVENANTS AND AGREES: ~.a~~~. _-fib
<br />That the Mortgagor will pay the indebtedness as hereinbefare prtrvided. - - - - - -
<br />That the Mortgagor is the owner of said property in fee simple and bas good right and lawful authority to Belt and
<br />convey the same and that the same is free and dear of eny lien or eneurubrarice; and that Mortgagor will warrant and defend the
<br />title to said premises against the- claims of all persons whrrmsoever. -
<br />Tn pay immediately when due and-.payahle all general taxes, special fazes, special assessments, water charges, sewer sere
<br />ice charges, and other taxes and charges against said property, and elf -taxes levied on the dept secured hereby, and to furnish the
<br />Mortgagee, upon regaest, with the arfginat or duplicate receipts therefor. 'f ke Mortgagor agrees that there shall bo added to
<br />`each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to be suHident to enable the Mortgagee to pay, as they become due, all taxes. assessments, and similar charges upcm the prem-
<br />+~ ices subject thereto; any deficiency becatise of the insutAciency of such additional payments shall tee fprthwith deposited by the _
<br />Mortgagnr with the Mortgagee upon. demand by the blortgagra Any detaul! under this paragraph shatL be deemed a defadt.in
<br />©" payment of taxes. assesmen ts, nr similar charges required henamder. - ~ - - - - - - -
<br />~ The Mortgagor agrees that there shall also he added to each monthly .payment-of principal and intetest-iequ;terl here-
<br />® under an amount estimated by the bfortgagee to be sufficient to erahle the Mortgagee to pay, as it becomes due, the insurance
<br />premium nn any insurance policy delivered to the Mortgaqee. Any deficiency because of the insufficiency of such additional pay-
<br />manta shall be forthwith deposited by the Mortgagor with the btortgagee upon demand by the Mortgagee. Any default under this
<br />,paragraph shall !re tlremed a default in the payment of insurance premiums If the policy or policies deposited are such as humr-
<br />ownere nr alt risk ptlicies, end the deposits are insufficient to pay the entire premium, the btortgagee may apply the deposit to
<br />pay premiums on risks required to Fre insured by this mortgage. -
<br />Payments made by the Mortgagor under the above paragraphs may, at the option u! the Mortgaqee, he held by it and
<br />commingled with othee such funds or its own Funrls G.rr the payment of such items, and lentil so applied, such 9aymrnta are hemhy
<br />phviged as secunty for the unpard balance of the mortgage indebtedness
<br />To procure, deliver stn, and maintain for the benefit oC the btortgagee during the life n( this mortgage original policies and
<br />renewals thereof,. delivered at least ten daysbefore the expiration of any such policies, insuring against fire and other insurable
<br />hazards, casualties, and rnntingencies as the Mortgagee may require, in an amount equal to the indebtedness secured 6y this
<br />- Mortgage, and an companies acreptahte to the. Mortgngrc•..vith lr,.v payable clause in Cav,.r •~f and in form aecepta66• to the Mortga-
<br />gee In the event, any pr,rlicy--~ rs nut rrnewtvl na ur before ten days of its expiration, the bCortgngre may procure u,surance on the
<br />improvements, pay the premium therefor. and such -cum ,hall become immediately due and payahle with interest at the rate set
<br />- forth,',in said note until paid,and shall he seciu cell by this mortgage Failun• an the part of [he Mortgagor to furnish -.uch renewals
<br />- as are, herein :rquirrrF ur Failure to pay any sums advanced hereunder shall, at the option oC the Mortgagee, constitute a default
<br />under the terms of this mortgage. The rleliven~ v[ such policies shall, in the event of default, ronsdtutY an assignment of the un-
<br />earned premium-
<br />- Any sums received by dtr Mortgagee by reason ui loss <r damage i surYd against may he retained by the btortgagee
<br />and applied toward the payment of the debt hereby secured, nr, at the option of the :Mortgagee, such scans either wholly ur in
<br />VY 1
<br />part may 6e Paid o r to the Mortgagor to be used to repo r such buildings .r to band'new buildings in there place ur for am^
<br />other purpos or ublecc saosfarlury to the btortgagee without aFfrcting the lien on the mortgage Cor the full amount at t ed here
<br />by before such payment ever rock place. -
<br />Tu promptly repaia_ restore ur rebuild any huddings ur improvement_,~. now ..r hr rraitwr on the premises which may hr~
<br />- come damageri m- rlestm,y,+l; to keep said premiu•s in ga+d mod; Lion and repair and frees from any mechanic's hen or other lien or
<br />claim of lien hot expre~v subordinated to the lien hereof; not to suRer or permit. any uniuwful use uC nr any nuisance to exist on
<br />sgrid properly. our to permit waste un said premises, our k, do any other act whereby the property hcrehy cot.vey_ ec! shall tteemr
<br />- less valuable. h r to di*ninish r,r nn lease ns eater, by any art - mu-~~ion n. act to '~~tn plc ..-~tt: ;dl mymr. nc nt. •:f taw ,vith rest <v~t
<br />tEr the mnrkgagrri glen?i«tac and the per Etx^rrs>f
<br />Thad, shuul~ the: preen r ur -rn~. scan t -rreoF [_ tat-n ~•r a#u -n,rd by r u€ a r imprnv.•mrnt o cond•~mnatttrn
<br />uu n u
<br />_ _ 'proceeding. ur ureter the nght uC a rt dumsnx, .• _ then _ the Ai _ ttiugr•c h tSP h._• _ :tt:.~ ^. +11 tpt-mat ens, -
<br />awards, and anY other payment ur rrl.rt .h., rf.,r. at»I~,thakl iw enti.{rd et .t; ,q=t ~. ,o ,.m.-err, opt ear ,n a,,. t,,.qR-eta , a_.
<br />c - u
<br />own name any action ur pna'e.ding, or to make any compromise or sat dement in conneebon with ouch taking ur damage All such
<br />compensation, awurds. damages. right e( action and pruner.ta err hecehy assigned to the Mortgagee. who tnay. after deducting
<br />lherefmm all its expenses, release ar wnrys sus and by +t u apply the same o t any mdrbtodness secured hea•by -hhe Mnrt- -
<br />gagor agrees to execute yuck furtlwrvasyignmrnts of any cnmpensahnn, awnnls, damages, un<I rights of aotx»t and pnuerds es the ~•
<br />Mortgagee may require
<br />1Tat in coat of (allure to perturm eny of the covenant. hrrr+n. !.}.r \lorlg++g+'•' may rln +m the \tortgagnr'. twhalf evorpthing -
<br />ao covenanted; that the Mortgagee may also do eny act it may deem nrce.~sary to {,natect the lien thrrooC that fhr Mortgagor wdl
<br />repay upon demon<i anY moneys paid nr disbursed by the \iurtgage+ &.r an}^ of the above purprnr_v, and such umnrya together wnh -
<br />intereat thereon at the rate prevtded in said note shad Irerumr „ much additional +ndebu•dnwss hrrchy ~:+•r~ur.-d and ntay tu. ra~
<br />dudrrd in any decree Gxrrdtrsing thin murtgaae and k+r Iruid eu[ •~f the rents ur pu~i-.eeds art sale of a:ud prrmiseY it out okherwtsr
<br />paid; that ft shall out hr obligatory upon the Mortgagtr to inquiro ui[o the vttildity of uuy lien, rncurnhrnn¢a•s. a rluim in ad-
<br />vancing moneys as above authortzert, but nothing M:!rein +:untamed shell "tr renstnuvF ac nnui ring the Morh;age,• ! • adv+.uu~r :m~
<br />- motreya for arty Bch purp~ nor W ds wy set heaundrr, and that ifortgag+a .huh n.rz ana ur au'. pr r..mat haL-dit} .a anst a .ri anv-
<br />thfug it rt+ay do nr .,m;t w do hereunder. +
<br />- !n the avant td the default by ht rrtgagor to thN payntrr+t of any rnytallnrent, qy raqutn.. 1 by ih \ t - --~ i t rrhv. ,r
<br />- in Cha prr[nrntanee of the atrltgatian n this mortgage ur m the note aeKUrud [hereby, the Murtgat, t shall he ui-tl. t t 1 .'tar •fhr
<br />debt arcured hrrchy du«.e uud-payahle wuhouf rtutitxt: and the Mor tgagre shall i»* entitled at it ulrticm. without mrt.tc other by -taelt
<br />ur by a rwrerv r t, }a• opts .utted by the court tF euf ui3 wilt rut rep tnl 1 the a hyua:v ( -- it t (r F - 1 t t { -
<br />cared Iterelsy,. t .enter ulnm-and tat- ptrsscsyion t the m rtgag d t mi--- and tp ([ a ~ r 't rot, a i 'nw
<br />thecae[, and appkY the yams, .lcs3 cuyto- of ulwrauu t std c II ti :., up. th indeF t In-_ ar ( ny t t - it,ar„ ni . ntr,
<br />- iaxttea and prtdita teeing hereby assigard to the ktengagee :tea [i_t}tsr -sesuetty foe IFe pa4 meot ui alt end. lzt !nr-~ -+< a - 3 hrttty
<br />Thr Mortgagee shall have the power to aptarint anY agent or agentw it Wray desire for the purptarr of n«twir rng wed pn•m-
<br />_-_ ___ +yrn: renttttg t}ir name; ctrllceting fhr rents, revenues and ira~urne. and it may pay out of said inn+me all rxprnyrr tnt~xrrrrcl vt rent•
<br />ing and managing the same and of cJlecting the rentals thrrrf rum. 'Cha• i__ralance rt mtutung- d aaty. than ta~ ;+tyrhed toward ehr
<br />- [iixcharge of ehe -moLigage itdobtt decay, Tl+is avaigptnent is In terminate and kwrcrrmr null uad vuiJ uikn rtd+•aw^ of th,a m.•rrg;+g+•
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