|
..
<br />l: ~a>n~~r~aenatr.,~a.~r.a.fanor.:
<br />a. He will pe~pdy pay the indcbtedaer evidenced by acid ptomirory note at the tins sad ie~the.
<br />y therein provided
<br />b. He will p:y all taxes, auaraoenp, water rates, sad other govetaasenul or maaiaipsl, ehargn, fines, or
<br />impoeitioos, for which provision hoe not been made hereinbefote, sad will promptly deliver the ofieiaf reedpts~ .
<br />tbezefor to the said mortgage.
<br />c. He will pay each expenses and fees ae may be incarted in the protection and maintenance of said
<br />property, including the fees of any attorney employed by the mortgagee for the collection of any or ail of
<br />the indebtedness hereby secured, or for forecloeare by mortgagee's sale, or court proceedings, or in any otltar
<br />litigation or proceeding aRecting said premises. Attornegs' (sea reasonably incurred in any~other way shall be -
<br />paid by the mortgagor.
<br />d. Far better security of the indebtedness hereby secured, upon the regaest of the mortgagee, its auo
<br />ceasora or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any additions,
<br />improvements, or betterments made to the property hereinabove described :.nd all property, acquired by
<br />it after the date hereof (all in farm satisfactory to mortgagee). Furthermore, should mortgagor fail to cure
<br />any default in the payment of a prior or interior encumbrance onthe property described by this inatruntent,
<br />mortgagor hereby agrees to permit mortgagee to cure such default, btrt mortgagee is not obligated to do so;
<br />and such advances shall become part of the indebtedness eecnred by this inatrumenq subject to the same
<br />terms and conditions.
<br />e. The rights created by this conveyance shall remain in toll force and efleM during any postponement
<br />or extension of the time of payment of flee indebtedness evidenced by said promiaeorp note or any part thereof
<br />secured hereby.
<br />f. He will continuously maintain hazard insurance, of such type or types and in such amounts as [he
<br />mortgagee ma}• from time to time require on the improvements now or 6ereaiter on said property, and
<br />will pap promptly when due any premiums therefor. All insurance shall he carried in companies acceptable
<br />to mortgagee and the policies and renewele thereof shall be Geld by mortgagce and have attached thereto
<br />lose payable clauses in favor of and in torn acceptable to the mortgagee. In event of loos, mortgagor will giro
<br />immediate notice is writing to mortgagee, and mortgagee may mmlca proof oC leas if not made promptly by
<br />mortgagor, and each imunnce company concerned is hereby authorised and directed to make payment tot eneh
<br />lass eltreetly to mortgagee imtesd of to mortgagor and mortgagee jointly, sad she ieuueaaee proeeede, oe say
<br />cart thereof, may 6e applied by mortgagee at its option either to the reduction of the indebtedness hereby
<br />secured or to the restoration or repair of the property elamagcd or destroyed. Tn event of foreclosure of this
<br />mortgage, or other trsasfer of title to said progeny in extinguishment of the indebtedner secured hereby, all
<br />right, tit1F and interest of the mortgagor in and to any insurance policies then is force shall par to the
<br />purchaser or mortgagee or, at the option of the mortgagee, may its surrendered for a refund.
<br />g. Re will keep all buildings and other improvements nn said property in good repair and condition;
<br />will permit, commit, or suffer no waste, impairment, deterioration aF said progeny or :uey part thereof;
<br />in the event of failure of the mortgagor to keep the buildings on said premises and those erected on said
<br />premises, or improvements thereon, in good repair, the mortgagee may make each repairs ae in its discretion it
<br />may deem necessary for the proper prexen•ation thereof: and the full amount of each sort every such payment
<br />shall be immediately due and payable and shall be secured by the lien of this mortgage.
<br />h. He will nut voluntarily create or permit to be created against the property .ubpr.•t to this mortgage
<br />any lien or liens inferior or superior fo the lien of this mortgage without the written ronw•nt of the mort•
<br />gages; and furdrer, he will keep and maintain the, same free Prone the claim of all geese>ns sup),k ing labor nr
<br />materials for eonstntrtion n[ au}' and all buildings ur improvenerntx now bcirrg erected or to br erected on
<br />said premises.
<br />i. 11e. will npl rent or assign nnv part of the rent of xaid mortgaged properly nr demolish, or remove,
<br />or suhatanllaily alter aov building without the wriumr runsem r.f the ntnrtgagrr.
<br />j. Alt awards of damages in eannrction with any eondemnatim. for public use of or injury ar .exre of the
<br />property subject to this mortgage are hereby axaigned and shall be paid to mortgagee, who rtes} apply the
<br />same to payment of the installments last doe under said note, and mortgagee ix hereby au0toriaed, in the
<br />name of the mortgagoq to execute and deliver slid acquittances thereof and to appeal from any xuch award.
<br />k. The mortgagee shall have the right to inspect the mortgaged preruiscs at uuv rcasunable time.
<br />?. t}efauh in any of the covrnantx or conditionx of this instrwurnt or of flee note or loan agrremrnt xecured
<br />hereby shall terminate the ntortgagols right to poxsrssion, ust, and rnjo}mrnt o[ the property, at the option of the
<br />mortgagee or his assignx lit being agreed that the mortgagor shall Latc sorb right until default l- 1'pnn any ouch
<br />default, the nwrtgagec xhuli {xcotne the owner of all of the. rents and prolitx accruing after defauh as xrcurity
<br />for the indebtedness xecured Irerehv, with the. right to enter ~upoee said property for the purpose of collecting xuch
<br />rants and prefers. This iaatrumrut shall operate as an sxaignntest of any ran:a!s uo paid progeny to that extent.
<br />
|