|
<br />L 17r ttas~rtga~err eeveaattts atsa aAuas m Lailsasa:
<br />~ ti~e:a peoided pay the iid~tet~eas eridmcr~ by ndd pto~ory crone at tie timd asd a tie
<br />b. Be will pay all tetra, aawtaaettL, wavy rata, and orbs tat or mst~ir9pal ebarf¢a, ~ ar
<br />iarporitisoy Lor which pmriaoo has not betm t>.ade hereiabeiexe, sad will promptly ddirer tie of6eial teoeipb
<br />t6e.tefor io the said mortgagee
<br />c. He will pay such expenses and fees as may be incurred in the proieetiaa and maiateaaaee of Laid
<br />property, including the fees of any attorney employed by the mortgagee for the collection of any or aH of
<br />the indebtednase hereby secured, or for foreclosure by mortgagce's sak, or Court proceedings, or in nay other
<br />litigation or procceding affecting said premism. Attorceya' fees reasonably incurred in any other way shall be
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the request of the mortgagee, ib sna
<br />cessore or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any additim_ts,
<br />improvements, or beitermenta made to the property hereinabove described -yd all property acquired by
<br />it alter the date hereof (all is form satisfactory to mortgageel. Furhermore, should mortgagor fail to cure
<br />any default in the payment of a prior or inferior encumbrance on the property described by this instroment,
<br />mortgagor hereby agrees to permit mortgagee to cure such default, but mortgagee is not obligated to do ao;
<br />and such advances shall become part of the indebtedness secured by this instrument, subject [o the came
<br />terms and conditions.
<br />e. The rights created by this conveyance shall remain in full Corce 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 />f. He will continuously maintain hazard insurance, of such type or types and in such amounts as the
<br />mortgagee may from time to time require on the improvements now or hereafter on said property, and
<br />wiU pay promptly when due any premiums therefor. All iaattrsuce eha?? 4,.. azrried in compattid acceptable
<br />to mortgagee and the policies and rmewale thereof shall be held by mortgagee and have attacbea. •1+ereto
<br />lose payabk clauses in favor of sad in form aatptabk to the mortgagee. Ia event of ions, mortgagor will give
<br />itamediate notice in writing to mortgagee, and mortgagee may make proof of lees if not made promptly by
<br />mortgagor, and each insuranoe company concerned is hereby authorized and directed to make payment fox sack
<br />lose directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or say
<br />part thereof, may be applied by mortgagtt at its option either to the reduction of the indebtedness heresy
<br />secured or to the rvatoration or repair of the property damaged or destroyed. In event of forcekenro of this
<br />taortgage, or odter tzamfer of title to said property in eztinguiahment of the indebtedness secured hereby, aU
<br />right, tide, and interest of the mortgagor in and to any insurance policies then is force shall pass to the
<br />purchaser or mortgagee oq at the option of the mortgagee, may be surrendered for a refund.
<br />g. He will keep all buildings and aLtter ;-ttprovements an said proficrty in good repair and condition;
<br />wilt permit, wmmil, ar aaHer no waste, impairment, deterioration of said property or acv part thereof;
<br />in the even! of failure of the mertgagor to keep the buildings an acid premises and those erected on said
<br />prerises, or ir..prsvemania thereon, ingood repair, tltc mortgagee may make such repairs as in its dia;.retian ii
<br />rosy deem rtaceasasy far the_praper_pressrvatioa iherettf: an$ the full amauttt of cash and every sues payment
<br />chaff be immediately due and payable and shall be secured: by the lien of this mortgage.
<br />h. He will not voluntarily create or permit to be created against the property subject to this mortgage
<br />soy lien ar li4pe inferior or superior to the lien of this mortgage without the written consent of the mort-
<br />gagee; and further, he will keep and maintain the same free from the claim of all persona supplying labor or
<br />maeeriale for construction of any and all buildings or improvements now being erected or to be erected o0
<br />said premises.
<br />i. He will nut rent or assign any part of the rent of said mortgaged property or demolish, or remove,
<br />or substantially alter any building without the written consent of the mortgagee.
<br />j. All awards of damages in «»mection with any condemnation for public use of or injury to any of the
<br />property subject to this mortgage are hereby assigned and shall be paid to mortgagee, who may apply the
<br />eatne to payment of the iaatalbnenta last due under said Hate, and rnor[gagee is hereby authorized, 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 any reasonable time
<br />2. Defnttlt-in any of the covenants or conditions mf this iastrumnn[ or of the nose or loan agreement secured
<br />hereby el}aJl termipale the mortgagor's right to possession, nse, and enjoyment of the property, at the option aL the
<br />mortgagee or his assigns (it being agreed that the mortgagor shall have such right unit} detaul[j. Lipan any such
<br />default, the mortgagee shall became She owner of all of the yenta and profits accruing after default as security
<br />ftrr the iadebtednew secured hereby, with the right to enter upon said properly for thy, purpose of collecting such
<br />t't~is and prstftw. Tlsis iastrumtat shall operate as au asaigriment of env rcaials on said pre pent' to that extent.
<br />
|