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<br />~0-c}t~5S37
<br />L 1'be rtxiv~mtmtaatsd . ~..._ ~ __
<br />mortgs6o agree m folbwa: .
<br />a. He will gmmptly pay the indebtedtter evidenced by said promirory note at the times acid in the
<br />manner thmsain psovided
<br />8. He will pay all taw, asseseoatats, watu rata, and other govetnmwtal oz mtmieipel charges, finey or
<br />impttatfooa, for wbic6 provisiaa hu not been made hereinbefore, and will promptly deliver. the o~eial teeeipb
<br />tbexfor to the said mortgagce.
<br />c. He will pay each expenses and lees as may be ineurted 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 aft of
<br />the indebtedness hereby secured, or for foreclosure by mortgagee's sale, or court proceedings, or in aay other
<br />litigation or proceeding aRecting said premises. Attorneys' fees reasonably incurred in any other way shall be
<br />paid by the mortgagor.
<br />d. For better security of the indebtednem hereby secured, upon the requeet of the mortgagee, its sue-
<br />ceasora or assigns, he shall execute and deliver s supplemental mortgage or mortgages covering any additions,
<br />iatptovemenls, ^_r bet*_e.^.nenta made to the property hereinabov2 dr~crbed :rd all property acquired by
<br />it after the date hereof (all in form satisfactory to mortgagee). Furthermore, should mortgagor failto care
<br />~, any default in the payment of a prior or inferior encumbrance on the property described by this instrument,.
<br />mortgagor hereby agrees to permit mortgagee to cure such default, but mortgagee is not obligated to do so;
<br />end such advances shall become part of the indebtedness secured by this instrument, subject to the same
<br />terms and conditions.
<br />e. The rights created by this conveyance shall remain in lull force and effect during am' poetpanemeni
<br />or extension of the time of payment of the indebtethtess evidenced by acid promissory note or any part thereof
<br />secured hereby.
<br />/. He will continuously maintain hazard insurance, of such type or ry•pea and in such amounts as the
<br />mortgagee may front time to time require on the improvements now or hereafter on said property, and
<br />wit pay promptly when due any premiums therefor. All iiunrance shall be carried is compattiea aeoeptabk
<br />to mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto
<br />loss payable clatteca is favor of and in form acceptable to the mortgagee. In event of toes, mortgagor will give
<br />immediate notice in writing to mortgagee, and mortgagee may make proof of lose iE sot made promptly by
<br />mortgagor, aa3 each instiranee company concerned i s hereby authorired and directed to make payment for such
<br />lose directly to mortgagce instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any
<br />part 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 damaged ar drstrgyed. In ewent of foreclosure of this
<br />mortgage, or Dihez transfer of rifle [o said property in extinguishment of the ir• fchtedttees eectticd hereby, all
<br />right, title. and interest of t_lu mortgagor is and to soy ina::ranca polit;iea than in Fore shall pass io the
<br />purchaser or mortgagee or, at the option of the mortgagee, may be surrendered For a refund.
<br />g. He will keep all buildings and other improvements rot said property in good repair and condition;
<br />will permit, commit, or softer 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 repaiq the mortgagee may make such repairs as in its discretion it
<br />may deem neceesary fur the proper preservation thereof; and the foil amount of each and every such payment
<br />shall be immediately due and payable and shell be xecured by the lien of this mortgage.
<br />h. He will no[ vohmtarily create or perntit to 6e created against the property subject to this mortgage
<br />any lien or liens inferior or superior to the lien of thin mortgage without the written consent of the mort-
<br />gagre: and further, he will keep anJ maintain the same Gee Crom the claim oC al! persons supplying labar or
<br />materiata fur construction of any and ail 6uildinga or improvements now bring erected or to be erected on
<br />paid premises.
<br />i. He will oat rent or assign any part of the rrnt of said mortgaged property or demolish, or remove,
<br />or substantially alter auY budding without the written conaem of the mortgagee.
<br />j. All awsrds of damages in connection with eny condemnation for public use of or injury to any of the
<br />property subject to ibis mortgage ere hereby assigned and shall be paid to ntprt~ageG who may apply the
<br />same to paymont of the installments lust duo under said note, and mortgagee is hereby authorised, in the
<br />name of the mortgagor, to executo and deliver valid acyuitlaneex thereof and to appeal tram any such award.
<br />&. The mnrigagex shall have the right to inspect the mortgaged premises at any reasonable time.
<br />2. f)efault in say of the covenants or amditiotts of thin instrumenS or of the. cote or loan agreement .xecured
<br />hereto. ehe114rrntinate the nwrtgagor h.rigltt to posseasinn, use, and enjoyment of the pnrperty, at the option of the
<br />tnartg:gee or his asnignx (it being agreed that lhr, mortgagmr shall have such right until default). Upon any such
<br />delauli, the ma•tgagec eftall become the owner of all of the rents and profits accruing after d~e.fauls ax security
<br />for the indebtedness secured hereby, with the right to enter eipon said property far the purleoee of rolferting such
<br />t+ratu and profits. Thin inatrumrul shall operate as an assignment of a,ty remain on said property to that extent.
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