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<br />8p.:. 't-+; X580
<br />1. 'the mntg.gar etrvmaau ttnd agrees m feIImn:
<br />a. $e will promptly pap the indebtedness evidenced by said promiswry note at the times sad fa the
<br />roamer [hers:.. provided
<br />S. $e will pay all tttttes, aareameata, water rates, and other gttserameatal oz maairipal nhsrger, finer, ae
<br />impositions, for which provision has mot been made hereittbeiore, sad will promptly de[iver the a~cial tetxipta
<br />therefor to tlto raid mortgagce.
<br />a He will pay such expenses and fees as may be incurred in the peoteetioa and maintenance of said
<br />property, inciudiog the fees of any attorney employed by the mortgagee for the col{action of any or all of
<br />the indebtedness hereby secured, or for foreclosure by mortgagee's sale, or court proceedings, or in say other
<br />litigation or proceeding affecting said premises. Auomeya' fees reswnably incurred in any ocher way shall be
<br />paid by the mortgagor.
<br />d. For better security of the indebtedness hereby secured, upon the request of the mortgagce, its sue.
<br />eessors or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any additions,
<br />improvements, or itetterments made to the property hereinabove described =.nd all property, acquired by
<br />it after the date hereof -(all in form eatiefactory to mortgagee). Furthermore, should mortgagor fsiil to case
<br />any default in 4he payment of a prior or inferior encumbrance.on the property deacribed.by.thia inatromeot,
<br />mortgagor hereby agrees to permit mortgagee to cure such default, but mortgagee ie not obligated'. 4o do so;
<br />and such advances shall become part of the indebtedness secured by this instrnment, subject to the same
<br />terms and conditions.
<br />v. The rights created by this conveyanoc shall remain in full force and effect during any postponement
<br />or extension of the time of payment of the indebtedness evidenced 6y said promissory note or any part thereof
<br />secured hereby.
<br />f. He will continuously maineain hazard insurance, of such h•pe or types and in such amounts as the
<br />mortgagee may front time to time require on the improvements now ur hereafter on said property, and
<br />will pay promptly whin due any premitmrs therefor. All insurance shall be carved in companies acceptable
<br />to mortgagee and the policies and naewals thereof shall be held by martgagee and have attached theaeW
<br />loss payable clauses in favor of and is form scceplable to the mortgagee. In event of loss, mortgagor will give
<br />immediate notice is writing to mortgagee, and mortgagee may make proof of loss iF no¢ made promptly by
<br />mortgagor, and each insurance company troaceraed is hereby authorised and diree4ed to make payment for such
<br />loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any
<br />part thereof, mry he app!icd by martgag~r at its option either to the rrductiau of the indebtndaeas hereby
<br />secured or to the [restoration or repair of the property damaged or destroyed. In event of foreclosure of this
<br />mortgage, or ether transfer of title to said property in extiaguia}tmeat of the indebtedness secured hereby, all
<br />right, title, sad interest of thc+ mortgagor in and to any insttrnace palici~ than in cares shall pass to the
<br />purchaser or mortgagee or, at the option nt the mortgagee, may he surrendered for a refund.
<br />g. He will keep all buildings and other improvements on said property in good repair and condition;
<br />will permit, commit, or 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 on said
<br />premises, or improvements thereon, in good repair, the mortgagee mny realer ouch repairs as in its discretion it
<br />may deem necessary for the Inroper preservation thereof; and the (all amount of rack mtd every such payment
<br />shall be immediately due and payable and shall be secured by the lien of this mortgage.
<br />h. Ile will eat voluntarily create or permit to be create) against the property subject to this mortgage
<br />any lien or liens inferior or superior to the lien of this mortgage without the written consent oC the mor4
<br />gages; and furthey he wil! keep and maintain the acme Gee from the claim of all persons supplying labor or
<br />materials for construction of anc and all buildings or impmvrnu•nta now being erected or to be erected on
<br />said premises.
<br />i. He wilt sot rent or assign any part of the rent of sail mortgaged propertr or demolish, ar remove,
<br />or eubatantially alter any building wi4tout the written consent of the mortgagee.
<br />j, Ail awards of damages in connection with any condemnation for public use of or injury to any of the
<br />property subject to this mortgage are hereby azsignsd and shall be paid to martgagee, who luny apply the
<br />same to payment of ihn inatallmenta lest dun under said note, end martgagee is hereby authorised, in the
<br />name of rite mortgagor, to execute and deliver valid scyuittances thereat and to appeal from any each award.
<br />k. 'the mortgagee shall have the right to inspect the mortgaged premises at env reasonable time
<br />2. ',Default in any of the eoveuants or conditions of this instrument or of the rote nr loan agreement secured
<br />hereby shall terminate the. mortgagor a right to possession, use, and rnjoyrnent n( the property, at the option of the
<br />mortgagee or hie assigns (it being agreed that the mortgagor shall hays such right until Jefaultl. Lfpon any such
<br />defaul4, the mortgagee shall became the owner of all of the rent. and profits accruing utter default ae security
<br />For the indebtedness secured hereby, with the right ta.eutnr upon raid property far the purpose of collecting such
<br />retLLw, pnd preftfa. This n. tntrument shall aprrata as an assignment of any rentals on said property to that extent.
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