|
BQ-- ii~~€;~~
<br />i. T'ite mortgagor coea.nu and ageee. a folbaa:
<br />a_ He will promptly pay the indehtedner evidenced by veld promissory note at the time and is the
<br />manner therein provided
<br />b. He viii prey aU taus, aaeetmmenb, water ores, and other governmeatsl or mnoidpal charge, fms, rte
<br />impositiotu, for which proviaioa hn not been made hereiabe[ore, sad will promptly deliver the oEteiai ~Pu
<br />therefor to the acid mortgagee.
<br />r. He will pay such expenses a::d fees ae may be incurred in the protection and maintenance of said
<br />property, including the fees of any attorney employed 6y the mortgagee for the collection of any or all of
<br />the indebtedness hereby secured, or for foreclosure by mortgagee's Bale, or court proccedinge, or in any oWe[
<br />litigation or proceeding affecting said premises. Attorneys' fees reasonably incurred in any other way shall be
<br />paid by the mortgagor.
<br />d. For lrriter a.-curity of the indebtedness hereby secured, upon the request cf the mortgagee, its sue-
<br />ccasora or asei,~ts, he.ehall execute and delivers supplemental mortgage or mortgages covering any additions,
<br />improvements, or betterments made, to the property hereinabove described :.nd ail property acquired by
<br />it after the date hereof tall in. form satisfactory m mortgagee), Furthermore, should mortgagor fail to cure
<br />any default in the payment of a prior or inferior encumbrance on the property describod by this instrument,
<br />mortgagor hereby agrees to permit mortgagee to cure such default, but mortgagee is not obligated to do so;
<br />and such advances shall become part of the indebtedness secured by this instrument. subject to the same
<br />terms and conditions.
<br />v. The rights created by this conveyance shah remain in full force and effect during any postponement
<br />or extension of the time of payment of the indebtedness evidenced by said promissory note or any part thereof
<br />secured hereby.
<br />/. He will continuously maintain hazard insurance, o[ such type or types and in such amounts ae [he
<br />mortgagee mac from time to ume require on the. improvements now or hereafter on said property, and
<br />swill pay promptly when due any premiwne therefor. A11 ieunrance shall be carried in companies aoceptabk:
<br />m mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto
<br />loos payable clauxe in Cavor of and in form arxeptable to rho mortgagee. In event of lose mortgagor will give
<br />immediate notice in writing to mortgagee, and mortgagee may make proof of lase if not made promptly by
<br />mortgagor, and each insunnee company conceroed is hereby suthoriaed and directed to make payment for such
<br />lop directly to mortgagee iasisad of to mortgagor and mortgagee jointly, and the ineuraace pcoxeda, or any
<br />part ihereaf, may be applied by mortgagee at its option either to the reduction of the indebtedness hexehp
<br />encored or to the restoration or repair of the property damrged or destroyed. In event of forecloenre of this
<br />mortgage, or other transfer of tkle to said property in extinguishment oP the indcbtadasaa second hereby, all
<br />right, title, and interest of the mortgagor is and to any insurance policies then in force shall pam to the
<br />purchaser or mortgagee or, at the option of the mortgagee, may he surrendere3 for a refund.
<br />g. He will keep all buildings and other improvements on said property in good repair and condition;
<br />wiif permit, commit, ar suffer no waste. impairment, deterioration of said property or any part thereof;
<br />in the event of failure of the mortgagor to keep the buildings on said premises and those erected no said
<br />peemisea. or improvements thereon, in good repair, the mortgagee may make such repairs as in ire discretion it
<br />may deem necessary for the proper preservation thereof: and the toll amount of each and every such payment
<br />shall be immediately due and payable and shall he secured by the lien of this mortgage.
<br />h. He will not voluntarily create or permit [o be created against the property subject to this mortgage
<br />any lien or liens inferior ar superior to the lien of this mortgage without the, written consent of the murt•
<br />gages; and further, he will keep and maintain the same free from the claim of all persons supplying labor or
<br />materials (or ronstruetion of env and all buildings or improvements now being erected or to be erected un
<br />said premises.
<br />i. He will no[ rent or assign any part of the, rent of said mortgaged property or demolish, or remove,
<br />or substantially alter :my building without the written consent of the mortgagee.
<br />j. All awards of damages in connection with any condemnation for public owe of or injury to any of the
<br />property nubjeet to this mortgage are horeby apigned and shall be paid to mortgagee, who tray apply the
<br />aamn to payment of the innt411mcnts Iasi due under said note, and mortgagee is hereby auttnorised, in the
<br />name of the mortgagor, to execute and deliver valid acquittances thereof and to appeal from any such award.
<br />k. The mortgagee shall have the right to inspect the. mortgaged premises at nny reasonable time.
<br />2. Default in any of the covenants or conditions of this instrument or of the note, or loan agreemem erured
<br />hereby shall terminate the mortgagor a right to poaseasion, use, and enjoyment of the, property, at the option of the
<br />mortgagee or hie apigna lit being agreed that the mortgagor shall have such right until default). Upon any such
<br />de(anlt, the mortgagee shall become the owner of all of the yenta and profits nccruing after default ae security
<br />far the indebtedness secured hereby, with the right to enter upon said property for the purpose of collecting such
<br />rents aSdprirfita. Thie~instroment shall operate as an apignment of any rentals on said property to that extene.
<br />
|