|
THE MORTGAGOR FURTHER-COVENANTS AND. AGREES:
<br />That ,the:Mottgagor-will flay the indebtedness ae hereinbefore.~provided. ~~
<br />That the-Mortgagor is- the dwner of said property in fee simple and has good right and lawful authority to sell and
<br />convey the same and a~~t.the Sarre as free: arid--clear n[ any lien-or.eacgmbrance: and ihat.Mdttgagor will warrant and defend.ahe .
<br />title to said premiaes~ against the claims of all persotrs- whomsoever:. -- - -
<br />To payitiitnediete}y'whep due attd~peyabin al}:general taxes; special-lazes, special assessments, water charges; sewer ser4-~
<br />ice charges, and,.aither fazes-and charges against said, property, and: atl~~tazes levied on~lhe debt secured hereby, and to furnish the
<br />Mortgagee, upon'regpeat~ with the original or duplicate receipts therefor. The Morgagor agrees that there: shall be~ added X40
<br />each monthly payment required hereunder nr under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to be suBrcieni to enable rtes Mortgagee to pay, as they became due, all"taxes, assessments, and similar clrargenupgn the~prem~..
<br />isea subject therein; any HeCreiehcy hecaltse of'the insufficiency of such additional payments shall Fre forthwith deposited-by the -
<br />Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shall be deemed a rlefealt in
<br />'- payment of fazes, assessments, nr similar charges enquired hereunder.
<br />The Mortgagor agrees that there. shalt also be added to each-monthly payment u[ principal and interest required here-
<br />under an amount estimated 6y the Mortgagee to be su~cient to enable the Mortgagee to pay, as it becomes due. the insurance
<br />premium nn any inaurerrue policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pay-
<br />rmenta shall he forthwith depr cited by the Mortgagor with the Mortgeg~ upon rlemend by the Mortgagee. Any default under thin
<br />paragraph shall 6e deemed a default in lbe payment of insurance premiums. If the policy or policies deposited-are such as home
<br />owners or all risk policies, and the deprrsits are inaulficient to pay the entire premium, the Mortgagee may apply the deposit to
<br />pay premiums on risks required to 6e insured by this mortgage.
<br />CG
<br />~ Payments made by the Mortgagor under the shove paragraphs may. at the option of the Mortgagee. he held-by it and
<br />commingled with other such funds nr its own funds for the payment of such items, and until so applied, such Payments are herebv ~~'.
<br />,~ pledged as security for the unpaid balance of the mortgage indebtedness
<br />1 To procure, deriver ;u, and maintain Eor the benefit of the Mortgagee du: nK the life of this mortgage original pabeiee and Vii'
<br />w renewals thereof, deliverr.i at toast ten days before the expiration of any such Policies, msunng against fire and other insurable ~,I
<br />hazards, casualties, and contingencies as [he Mortgagee cony require, in an amount equal to the indebtedness secured by thin '~~~
<br />Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor u[ and in (arm aernptable to the Mortga- ~f'~
<br />gee. In the event any policy is not renewed , r hnfo rr ten days'. of its ezpirntrnn, the 11nrtRaRee may procure insurnnre un the I!i
<br />impzuvaments, pay the premium therefor, and ouch sum shall fear^nnie inuneriistely due and payable with interest at the rate set'i,l
<br />forth in said note unfit paid and shall Ir• vw urrvl by this nongagr. F.vlurr „n the part of ihr ,Llortgagnr to [u rnish ouch renewals
<br />as are herein required ur failure to pav :, .advanced 1hrrrundrr vh:dl, at the np4un of the Mortgagee, nmstitutr a default
<br />under the terms of this mortgage. '['he delivery n[ such policies shall. ~n the e~rnt •,[ rlefeult. cnnsutute an -a,4signm.•nt of the un-
<br />earncxi premmm.
<br />Anv sums r ovi.vd Iay the Mortgagee hp reason n( loss , damage : red against may br rvta urrd b>• the tilurtgegee
<br />and applied toward the p»ymrnt .d the deM her.•hy s.~rum~l. ,~ at the ~,piionsuf the Mortgagee, such sums edher wholly nr m
<br />part rosy Ire paid , r to the Mortgagor to L• used t„ rrpnir , uh huildinK_v . r in hudd'rn•w bwidings in there plnre^ ,~r f,rt any
<br />oilier I?urposP ..r object :attxfactary to the hirrtgagre ~•~rti~,:ut aif«r-hnk rf„- li«n on the murtgago Cor the full .unuunt W,urr.4 brre-
<br />hy Irefure such payment ever ta,k place.
<br />'Ib promptly rePam resterr , rebuild any huddmgs ~. mprasrnu•n is : ~ c hrrr»ftrr c,, the prrrruum which :nor F
<br />comr damaReti ur desUOyrd , to knee laid prenrise•s in g«nl r.mdinwt and repine rind frrr• from any mechamc'v Ern ur other lien or
<br />claim ut Ilan nut e-xpresxly auhxdzr+aled to tbs 4rn hereof- nut ~n .u(Trr s. x•nntt au> urdawful use ^~f nr ems niusanw• i .Brat on
<br />.aid pmta•rtY nor to prrmtt waste ,r~ 3a+d prerntses. n:.r t„ ai. eu;y other act wher<•hc the ptrrfx~rty hcrvhy rntt•eyrd shalt tx•<-~umr-
<br />Ie^vt valuafde, nor to ,lino ntsit nr unNatr iL slur try aury art ur stn i»swu Io :rcr- to rnnlpi~ oath ;tit n•q tnremrnLa ,d taw with mxproi
<br />to the naurtRaged prnmi_aes amt the ,~sn thnrru€,
<br />'Phat ,houirf tk.• presets.-s ,:r env i:art ih«€r„1 4x• tak<r, ;,r :iamage+i nv ,-r:rs.n , ! :.a_ r. xth. .,pr:.-. r,s ,.r ... 7-r -x~,±n
<br />procrerling. nr under tk« rrght ,.i , rot dnmarn, , :~thrr iurnn,•r. the M,.rt r:agre .hail hr •~nrulyd n, all ^~,~mpr nvatiorvv.
<br />•mrn
<br />nwarc(s, and any other payment ur relief Iherrfar, and shalivhn entltleri- at its rption, to cummentr. appear ir, sort proaecuta an iq
<br />rrwtt name any aches or Pn. ~radrnR. • r lu make arty rnmprumtse ur sot li«ment m r rnnrcUOn with such taking ~~r damage- Alt such
<br />compensation, awards. damages, right +.f action and prcxaeeds era htrehY assign«ri rte the M<rcigagae. who maY~ attar dadurtrrrg
<br />therefrom ail its azpensou, ralesae any munoYa su rnxived hY it ur apply the same un any inriebtarlnesa sacurarl }sere~Y• "1'hr Mw4~
<br />Sager aRraes to ezeeute such furlhnr asaignmenta of anY comtrensatwn, awards. damages, and rrghW of sa^kwn and prrxarerla as ihr
<br />Mortgages ntrtY require.
<br />That rn case ,d ladura to pndurm any of the covenants herein. the \1nrtRagev may do nn the Mortgagor's Mhaif eerrvthinR
<br />err vvenanferl: that tkse Murtgaaeo may also du anY set it may rlrem nec^esaaey to Itrotuct the hen thereof: that the Mortaaanr well
<br />repay upon demand any moneys paid w diaMrtced Icy the Mortgagee for any rd !hn atxwn purtK"antr, sort such muneyw mgethar wrth
<br />intareA tlretann st the, rats pr*aridad in raid note shall bscomrt sn much :niditional indehl«inauw hnrehy secured scut may hr rn
<br />eluded in any decree forar:lewtaR the mortRaRS and ta, pad uut of the renal ur prtxtw1a of sale ui said. prem»rn+ if wt utMrwrw
<br />pairs; that it shtJl nut 6+r ubliRausry upon the MortRaRtw 4r inquiro into lhn validity of any hen, encumhranew. or clstm in ad~
<br />vatxktaR muraeys as abuse suthurttwi, but rastlntrg reseals cattained shall hs conatrurat as requtnttR the MortRaRea to advattav any
<br />tttrtnatratae spy etch tatrtaw oat to da any ass hsreutrder, sad that Martpgee shah rut incur any frerw+na) kiabilitY tra^eusr of apy~
<br />ddpR-it-tttsy da ar arptt as do haraattdttr.
<br />In ttrt+ avant rd ttu Mlautt by MuryftrRor to the payment of any installment, to requkrwl by the Nee stcuead hereby. w
<br />in the ta+r/attntrpaa d tM nhllRtttrar in-that rr+oettiUe ar in the Hake secured Otantby, the MoriRSgee shall be entitled w rMctan the
<br />rtitffit zeztira# heealrY due and paya6lg wttt..u.; tattiti~. the kdertRnfutu shall t.e entitieri at eta ._.ptM,n, with.--1t :x~fir~_ nitt~r t',r' t[
<br />err. §~. a t+ataetYay to tin appurpted by ttte caret thetasrt. artA wrtht,ut rr{ard to the adegasey of aAY aesttrrt+ far the ieekeee-se-
<br />curad hexby, to aster spare sad take pora+etaa ni-ilia mnrtgagvd Premises, aftd to rnltaet and nxxiva the rants. -iasuai stet-prahta
<br />theeroi; and attplY the. aRtne, lent costa of a~retinn amt eulleattnn, upnn the indebtedaess secured by thyr trtnrfaaRa: Ntd rants,
<br />irrrrea ant pfe6b-biaittR hereby-aerflt(ned-to the MoMRagee u farther aeearlty far the Payment at aN fnrlabtedrtw aesuaad-ktsrehy,
<br />'Phe MrtrtgaRae shall have the power m appoint any agent nr agents it may desire fur the PurPoaa nt ratWrtnR card prrm-
<br />irres; renting- theawwtte: collestipF-Oro netts. rayeritara-turd imams, end it may pay out nt xud income aN aspensas rrtcurred to nnt-
<br />t~ and rnaneRi~ the caeca and of trolkctiaR the restate therel ram. The balance romeininR. if anY. shall tea applied Wward the
<br />discharge ut the mortpge indebtedrrtnr. This arigrunenl is m terminate and Herons Wait and vuiri upon raleaw ut this rrroMRaRe.
<br />t..... i
<br />
<br />
|