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T[iE MtHk3GAGOit-FUR7'FiFA COdE2^fAlVTS A23D AGftEEB: - .
<br />That the. Mortgagor will Pay fhe irulebtedrutsa as hereinbefore provrded. -....-.
<br />That the Mortgagor is 'the riwner of said property in fee simple and bas good right and lawful authority to sell and
<br />convey the same and that the same is free and clear of any lien nr encumbrance; and that Mortgagor vril[ warrant acrd -defend fhe- -..
<br />title to said pretriisesagairtat~~tha.c#aims of all parsDriswhpnieoever. - - --- -
<br />To pay immediately when clue and- payali7e all gerierai tazss.-special-taxes, special assessments, water charges, sewei se-rv-
<br />ice charges, and other taxes and charges against said property,~and all taxes tevircl on the debt secured k;ereby, and tp furnish the '
<br />Mortgagee, upon-regvest,~ with--the.original_ ar duplicate receipts therefor. The I4iortgagor agrees that there shalt he added to"" --
<br />each monthly payment iequired hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to be sv8•icieat- to-&tiabte:the Mortgagee to pay, as they become dve, all taxes, assessments. and similar charges open the preen-
<br />ises subjecE thereto; anydeficiencybecause of the insutAciency of such additional payments shall he forthwith deposited by the
<br />Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under t}eis paragraph shall ten deemed a default in
<br />-"drayiisenE=of -tales,'-assessments, pr similar charges required 'Hereunder. -
<br />The Mortgagor agr~s that there shall also bo added to. each monthly payment ai principal and interest required here-
<br />iinder an amounE estimated by the Mortgagee to be sufficient 2o-enable- the Mortgagee to pay, as it becomes due, the insurance
<br />premium on any insurance policy delivered to the b3prtgagee. Any' deficiency because of the insufficiency of such additional pay-
<br />ments shat)-he forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br />.paragraph shat: be deemed a default in the payment. of-insurance premiums If the policy or policies deposited are such as humz-
<br />-pwners ar alt risk-policies, and the deposits are insufficient to pay the entire premium, the Mortgagee mar apply the deposit- fo-
<br />pay premiums an risks required to be insured by this mnttgage. - ~ -
<br />Payments made try the Mortgagor under the above paragraph.=. may, at the option of the 'Mortgagee, }m held~hy it anc'
<br />commingled with other such funds or its own Grads Cor the payment of such items, and until so applied, such payments are hereby
<br />pledged as security far the unpaid balance of the mortgage indebtedness-
<br />To procure, deliver to, and maintain for the t;enefit of the bortgagee during the Hte of this mortgage original policies and
<br />renewals thereof, delivered at least ten days hefnm the Expiration of any such policies, insuring against (ire and other insurable
<br />hazards, easualtles, and contingencies as the Mortgagee may require, in an amavrt equal to the indebtedness secured by this
<br />Mortgage, and in companies acceptable to the Mortgagee, with ; , s payable clause in (aver of and in Corm acre-ptable to the MOrtga-
<br />gee_ In the event any policy is not renewed r r before ic•n days of its expiration, the Mortgagee may pmcuee insurance on the
<br />imprpvements, pay t-he premium the_retor, and ~uch sum. shall 6emme itrmaediately due and payable with interest at the rate set
<br />forth in said note until paid and shall F» secun•d by the mortgage Failure un the part of the Mortgagor to furnish such r ewais
<br />as are herein required ur failure to pay any sums advannvi hereu~tder ,bath at the option of the Aortgagee. c nstitute a r vfaait
<br />under the terms of this mortgage. The delivery of such pour-ies .hall, m the event of default constitute an assignment of the un-
<br />earned premium.
<br />Any sums received by [he Mortgagee by reason oC lass ur damage i - ved against may he retauv-d by the Mortgagee
<br />and applied toward the payment of the debt hereby se cared, o at the opGeya[ the Mortgagee, such wrrs either wholly or m
<br />part may be paid Deer to the Mortgagor to be used to repau such !wildings or to build ?yew buildings :n their place ar for zny
<br />other purpose or object satisfactory to the Mortgagee without affecting the lien an i!-~e mortgage for the full amount srcu red here-
<br />by before such payment ewer took place. -
<br />. u promptly repair, resfure a rebuild any I:•uildings o- mpze:•rrnr•n is r., .. ,•r herratt.•r on ihe• it ,which may la--
<br />come damaged or destroyed; to keep said premises in gaol c:ndi ciao and repair and free from any :nechan:r~s be:, ar other !ten or
<br />claim of tien not exprecvly sulxrrdinaleci to the lien h«•reuC, oat to ,utl.~r •,r ;,~- rat « ~ nla,v[ul r:.r •.F ants e to n ist nn
<br />Said property n o permit waste o said p- -es, ncr m de any eihe; act rwh-ereby the p- -errty hereby cc,-. - -dr shall bner.,z
<br />less valuable, nerrto diminish ur impair iL= value 6y ary act nr nm,ss:an to art. to c-mf±ly with j'ilE requirements rot law with.respett
<br />La the mprEgaged premises and the use thereof. - -
<br />Thais ould t}te premises e any part thereat ~ tat. .•r damaged . ..~n at a ~ pubis- ampr~..+•ment o ,.,.-,. ..~ ,ro,
<br />proceeding. nr under the right of e Went domain, o rn any ether manner, the r42~~rigag•rs `rshail t... crut!ed W a,t c_ "_, _nsauens,
<br />awards, and any other payment or relief therefor, and shall be entitled, at its option, in commence, appear in and prrasecute in iL
<br />own name any action ur prceeedinK. or to make any compromise or settlement in connection with such takinK or damage.:\II such
<br />compensation, awards, damages, right of acfipn and prceeeds are hereby assigned to the Mortgagee, who may, after deducting
<br />therefrom all its expenses, release any moneys so received by it pr apply [he same on any indebierlness secured hereby. The Mort-
<br />gagor agrees to execute such turther assignments o[ any compensation, aveards, damages, and rights of action and proceeds as the
<br />Mortgagee may require.
<br />That in case of failure to perform any of chr covenants herein, the Mortgagee may do nn the Mnrtgagor's behalf e. ervthing
<br />so covenanted; that the Mortgagee may also do any act it may deem necessary to protect the lien thereof: [hat the Mortgagor v+itl
<br />repay upon demand any moneys paid or disbursed by the Mortgagee for any pF the above purposes, and such moneys together w•ilh
<br />interest thereon at the rate provided in said note shall become= so much additional indebtedness hereby secured and mxy ire in-
<br />cluded in any decree foreclosing this mortgage and be paid aui of the rents er proceeds of sale of said prrmrses if ttot otherv+ise
<br />paid; that it shall not ire obligatory upon the hiortgaget• to inquire into the validity of any lien. a cwnbrances. or claim in ad-
<br />vancing moneys as a}wve authorized, but nothing herein containeJ shall lee construed as r Kluinng the Mortgagee to xdvance any
<br />moneys for any sueh purpose nor to do any act hereunder; and that MpRgagee :hall not incur any tx rsrmal tiahility lrerause of any-
<br />thing it may do or emit to do hereunder.
<br />In the event o[ the default by Mortgagor in the payment of any installment, as required by the Notr secured hereby. ar
<br />in the performance of the obligation in this mortgage or itt the note secured thereby, the Mortgagee shall hc• entitled to declare the
<br />debt aesttred hereby due sod Payable without notice, and the b3orlgagee shall be entitled nt its option, vvrthout uoGce, either by itself
<br />or. by a receiver d> k:e appuittkirl by the court fherepf, and without regard to the adequacy of any security for the indebtedness se-
<br />cured hereby, to-enter upon and take Pos?;ession of the mortgaged Premises, and to co!lret and receive the rentx. issues anc! profits
<br />thereof, and itPply the same, .less ecsts of operation and collection, upon the indebtedness secarer7 by this mortgage; wiri rents,
<br />issues and profits tieing hereby assigned io the Mortgagee as Further security far the payment of alt indebtedness secured hereby.
<br />The Mortgagee shalt have the power to appoint any agent or agents it may desire for the purpose of repairing said prem-
<br />ises; renting _fhe same; collecting the rents, revenues and income, and it may pay out of said income alt expenses incurred in rent
<br />ing and managing-the same and pf collecting the rentals theret tom. The balance remaining. i( any, shall he applied toward the
<br />dixharge of the mortgage indebtedness. This assignment is to terminate and become nut! and void uixm re!eese of then mortgage.
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