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<br />6. That at the option of Ike Mortgagor the principal 6otarsee secwed hereby may be reamartized art term: aeceptabfe
<br />to the Aortgagee if r partial prepayment result from an award in::cnndemnotiors in accordance urcth provisions of paragraph-8
<br />herern, or from an inswanee payment made in accordance with prnvisitsns of paragraph t herein, where there rs a resulting- - - - -
<br />tosa of protect income;
<br />7. The! the Mortgagor will keep the improvements now exltiag or hereafter erected ore the-mortgaged-property - -
<br />inswed again*.t toss by fire and ouch other hazards, caaunlties, and contingencies, as may be stipulated by the Mortgagee,-nod:
<br />aU such tnawance shall be evidenced by standard Fine and Emended Coverage Inswance Polity or policies, in amounts oat- - - -
<br />less than necessary to comply with the applicable Coinsurance Clouse percentage, bus in no event shall-!he amotsnta of -_ -
<br />coverage be lest ;5an eighty per centum (8th) of the inawable values ar not teas than the unpaid balance of tha Mortgage, -
<br />whfcheuer oche leueq and in ~Mefanh thereof the :4lortgagee shag have the right to effect insurance. Stsch palieie; shall Le- -
<br />endorsed with standard Mortgagee Clawe with lass payable to the Mortgagee, as interest moy appear, andlha!! be deposited
<br />with the Mortgagee; -
<br />That if the premises covered hereby, or ony part thereof, shall be damaged by fire or other hazard against which
<br />insumnce is held w hereinabove provided, the aneounu paid 6y any inrwanca company, to the ertent of the indebtedness then- -
<br />rem¢ining unpaid, shalt be paid to the .M1lortgogee, ond, at his/her option, may be applied to the debt or released far the repciring-
<br />ar rebuilding of the premises;
<br />8. That atl utuwda of danwges in rnnnection with nrsy condemnation for public use or injury to any of said property
<br />are hereblr assigned and shall 6e paid to Mortgagee, who may apply the acme to payment of the installments last due: under
<br />mid note, and :1lnrtga~pes is hereby auihar~ed, in 1F.e name-af .hlartgagor, tc txecute and datives va8d eequittar.ae,- thereof
<br />ond to appml from any ouch award;
<br />9. That it is lawfully seized and possessed of said real estate in fee simple and has good right to convey same;
<br />!0. To keep said premlea in good repair, and oat to do, or permit to be Jone, upon said premises, anything that may
<br />impair the value thereof, or of the security intended to be effected by virtue of this instrument: that it will not make arty
<br />structural alterations to the buifdirsg without the written consent of the tortgagee; !o pay to the :}lortgagee, as hereinafter
<br />provided, anti! said note is fully paid, a sum sufficient to pay all !area and special assessments that heretofore or hereafter
<br />may be (awfully levied, guessed nr imposed by any casing body upon the said toad, or upon the :Sfortaagar ar Mortgagee nn
<br />account of the ownership thereof to the ezient that provision has not been mode by the Aortgagor for the payment of such
<br />taxes and special assessments as hereinafter provided in subparagraph 17(b);
<br />I7. /n case of the refuwl or neglect of the bortgagor to make such p¢yments, or to satisfy am• prior lien or encum-
<br />Lrances, or to keep said premises •'n good repair, the :}lartgagee may pay such taxes, assessments, and insurance premiums,
<br />when due, and may make such repairs to the property herein mnr[gnged ns in the 3lortgagee's discretion he/she nwy deem
<br />:ucesaar?' fur the proper presenatinn thereof, and any nwneys sv paid or expended shat( Lecome! xo roach additional indebt-
<br />edneaa, secured br this 3lortgage, to be paid out of the proceeds of the stile of the mortgaged premises, if not othtrn:ise paid
<br />br the Mortgagor, and shat! bear interest at the rate specified in the note (rain the date of advance until paid, crd :hall be
<br />shoe and payable an denwnd;
<br />t? his espy nasty provided, howeeer. (act other provisions aJ this :}Foriy{age to the cnntran' natwithstnndincl, that
<br />the ilertamgee shall oat be required nor shall he%she have the right to pay, discharge, ar remove any tax, assessment, or tax
<br />lien urn ar r,-first tha Gremise; described herein ar any part thereof or the improvements situated thereon, so long a: the
<br />.5lortgogor sMll, in good fnfth, contest the same or the solidity thereof Ly appropriate legal proceedings Lrou~ht in a court of
<br />competent jurisdtetion, whisk shall operate to prevent [he collecnnn of the tax, aaaessment, or lien so contested mtd the safe
<br />or forfeiture of the mid premises or ony part thereof to satisfy the solos., but in the event of n tax con teat, the ;4lortgrsgor shall
<br />deposit with the bfortgogee an atnowrt estimated by the ;}1ort~•mgee sufficient to satisfy aR taxer, penalties, inures t, and coats
<br />which may reaaonab/y ¢ccrue during ouch rontest;
<br />13. That it will nut volantardy create or permit to be created against the property subject to this :}lortgnge any lien
<br />or liens inferior or superior to thr Lien of this rtlortgage and further that it will keep and rnnintain the wrae (see from the
<br />claim of al! persona supplying bbor or material which wi71 entry into the runrtraction of any ood aN Luildings now being
<br />rractad ar tube erected on said premises;
<br />14. Thai the improvements about to be made upon the premues atioue describeO and all playa and speriJ`matia+u
<br />comply with all municipal ordinances and reguhttiona made or promulgated by lawful uuthority, and that tha same mdl upon
<br />completion comply with alt such municipal ordinances and regulaliona and with the ruler of applicable (ire rating ur inspection
<br />organisation, bweou, aasaciution, or afftce. In the event the :4lartgagnr shat at any time fail to comply with such rider, regu-
<br />tatiaru, and ordinances which are now or may hereafter become applicable to the premiau olroue derrribrd, after due notice
<br />and demand Gy the :5lortlnegee, thereupon the principal sum and n!I arrears of interut and other rhargea provided (ar heroin,
<br />ahdl at the option of the ,Mortgagee become due and payable;
<br />15. The Mortgagor covenants and agrees that so long as this ;}lortgatte and the acid note secured hereby are outstanding,
<br />it will na! execute ar J file for reccrd ary instrument which imposer a restriction upon the sale or acrupancy of the mortgaged
<br />property on the lrssl of race, rdor or creed;
<br />tb. 77tat the funds to be nduenced herein are to he used in the construction of certmn impravemenU nn th ~ la~t ••
<br />herein described, in accordance with n building loan agreement between the :}lortgagar med Mortgagee dated. ~ U~Y
<br />14~Q ,which budding loon agreement (except such uprt or parts thereof as nwr Le incnnsistenthereu,ith/ is incorporated
<br />herein by reference to the wine extent and effect as if fatty set forth and made a part of this lurtgage; and if [he cansinectinn
<br />of the improvements to be made pursuant to said 6ui/ding loon agreement shall not 6e carried un with reasanaLle Jitegenct, or
<br />shall be discontinued at ony tune for any reason other thou strikes or tock•outs, the M1}ortgogze, after due notice to the aortgagor
<br />or say aubteyuent owner, is hereby inueated with full and complete. uuthority to enter upon said premises, employ uutchncen to
<br />protect such improvement frarn depredation or injury and to preren~e and protect the persona! property therein, and to continue
<br />raw x at s v.sa. enw xo9atitt Jana tvyu
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