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<br />Tii3 MORTIGAG€373 17C(R7'HF.B. OOVEliTANZ'S AND AGREF4: rf
<br />:~__ - 80- iiC~522
<br />T'hat` ire Afortgaf~x-~w81 pay the indebtedrxsa as ttereinhelore provided. -
<br />That the -Mortgagor a :glee Otvrter ut said property in fee simple a>sd has good right seed lawful authority fo self and -
<br />rnnveY the same and flat the saaYa is free atvl--clear of any. tjen or eneumbranoe; apd that Mortgagor wilt warrant and defend the--
<br />title to said premises agaixfd' the <i3ai»u° of -ail petdoas- wi~oeer.. --. _
<br />To pa} i--a~a` 1y whew due aad paYabSe all gener$i.tases, slreciaT taxes, special assessments, water charges, sewer sere-
<br />ice charges. and ether to:es and charges against said: jrriiperty. and•aif .taxes levied on the-debt secured hrrehy. and to furnish the
<br />Mortgagee. npon--regoeat, with :the-origtrial or duplicate receipts therefor. The Aorgagor agrees that thare shall beadded to- -
<br />eet3t monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />!n be su6rcieny tv"eariWe the 34foitgagee-to pay, as they become dues aft saxes, assessments, and similar charges upon the prem.
<br />saes aubjeet thereto; any deficiency because'of-the insufliciency of such additional payments shalt be forthwith deposited- try tire
<br />Mortgagor with the Mortgagee upon demand by the i;orlgagee. Any default under this paragraph shall he deemed a default in
<br />-'pavmerrt of lax. arse-,sments, nr-similar charges required hereunder-
<br />The- Mortgagor agrees that there shaft also 1>e added to each monthly payment c€ principal and interest squired here-
<br />under an amount estimated by the Mortgagee fo lee s,ilficient to enable the Morgagee to p~=, _s i2 hecvmes due, the insurance
<br />premium on any insurance policy delivered to the Mortgagee. Any deficiency t~cause of the insufficiency of such additional Pay-
<br />ments shall lie forthwith deposited by the Mortgagor with the A;ortgagee upon demand by the Mortgagee: Any defavl£under this
<br />paragraph shall its deemed a riefault in the payment of insurance Premiums. If the poliap nr policies deposited are such as home-
<br />ownets or aFl risk (x.licies, and-the deposits are insufficient to pay the entire premium, the t;ortgagee may apply fhx deposit. to
<br />pay premiums on-risks required Eo be insured by this mnrtRage. -
<br />Payments made by the Mortgagor under the above paragraphs may, at the option of the Mortgagee, t held ~bv it and
<br />cofnmingled with other such fu rds or its Deco funds for the payment of such items, and until sn applied. such payments are hereby
<br />pledged as security for the unpaid ha{ancr uC the mortgage indebtedness.
<br />To procure, deliver k>. and mainain for the t»?nefit of the Mortgagee during the life of this mortgage original policies and
<br />renewals thereof, delivered at (east ten days before the expiration cf any such policies, insuring against fire and other insurahce
<br />har~rds, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br />Mortgage, and in companies acceptable a the Mortgafiee, with loss payable ciau~ in favor u[ and in form acceptable ro the Rior*_ga-
<br />gee. In the event any policy t not renewed un or twfore ten -lays of i~ rxpiraticn. the Mortgagee m-ay Isamure in-,urance un the
<br />improvements, pay the premium ihrrefor, and such sum shat! become immediafe3y due and payable with interest at the rate set
<br />forth in'said note until paid and shall be secured by this mortgage. Failure on the Part of the Mortgagor to furnish s-ueh renewals
<br />as are herein required ur iailure to pay any sums advanced hereunder shall, at the option of the Mortgagee. corstitute a default
<br />under the terms of this mortgage. The delivery of such policies shall, in the event of default, constitute an assignment of the un-
<br />earned premium.
<br />Any sums received by the Mrrtgagee by reason of lass or damage insured against may t±e retained by the Mortgagee
<br />and applied toward the f.ayment of the debt hereto- secured, ur, at the option of the `slortgagee, such s either wholiv or in
<br />part may be paid over to the Mortgagor to be used to repair such buildings or to build new buildings inutheir place nr (nr any
<br />other purpose or abject satisfactory to the Mortgagee without affecting the Lien on the mortgage for the fu3t amount secured here-
<br />by t>e€ore such payment ever twk place.
<br />To promptly repair. restore or rebuild any buildings c improvements rnw or hereafter nn the premises which cosy be-
<br />come damaged or destroyed; to keep said premises in good rendition and repair and free from any mechanic's lien or other lien nr
<br />claim of aer: rct expressly sutxirdinated to the lien hereof: not to softer or pr emit any un3awtul use ni nr any nuisance to exist on
<br />said Property nor to Permit waste on said nremises. our to da any ether set u~herehy the property hereby conveyed shall Mcome
<br />3ess valuable. n:;r to diminish or impair its value by any act or omrs•,ion to act: to rcmply with ail requirements of taw with respect
<br />to the mortgaged premises and the use thereot.
<br />That should tt[a preaxixes or any part thereof be taken or damaged by ;easen of any pubiir improvemeufi ar comlertnation
<br />proceeding, or under the right oI eminent domain, ur in any other manner. the Mortgagee shall he entitled to all compensations,
<br />awards, and any other payment or relief therefor, and shalt he entitled, at its option. in commence, appear in and prosecute in ifs
<br />own name any action or proceeding, or to make any compromise or settlement it n«•ction with such taking ur damage. AB such
<br />cempensatian, awards, damages, right of action and protreds are hereby assignedr to the Mortgagee, who may, after deducting
<br />there;rem alt its expenses, release any moneys so received 6y it or apply the same un any indeMedness secured hereby. The Mort-
<br />gagor agrees to execute such further assignments of any compensation, awards, damages, and nghts uC action and proceeds as the
<br />Mortgagee maY require.
<br />Thst in case of failure to perform any of the covenants herein, the Mortgagee may do on the Mortgagor's behalf everything
<br />so covenanted; that the Mortgagee rosy also do any act it may deem necessary [u protect the lien thereot: that the Mortgagor will
<br />repay upon demand any moneys paid or diabutsed by the Mortgagee for any of the above purposes, and such moneys togetfier with
<br />- interrE thereon at the rate-provided in said note shall hecome so much additional indebtedness hereby secured and may he in-
<br />cludsd in soy decree foreclosing this mortgage and be paid out of the rents or prcceeds of :ale of said premises if nut otherwise
<br />paid; that it shall not be obligatory upon the Mortgagee to inquire iota the validity of any lien, encumbrances. ur claim in ad-
<br />venairtg-moneys-as above authorized, but nothing herein contained shalt be construed as requiring the Mortgagee to advance any
<br />ntoat4ltafor ally srteb pgrpoae_nM- tq do any ant heraunder; and Shnt Mortgagee shall nut incur any perscmat liability because of any-
<br />thing,~t.may-do.or omit to do hereunder. -
<br />in the avant of the default by: Mortgagor in the payment of any installment, as required by the Note secured hereby, o
<br />in the perf~rnrance of #he-obligateuit in this mortgage or in the riots secured-thereby, the Mortgagee shall be entitled tr, declare t3te
<br />- debt sea'pted. hereby.dtte and payable without notice, and.the Mortgagee shall 6e entitled at its option, without entice, either by ikael(
<br />os, by a rriceiver tofie"apps)inteti by the ecirrt thereof, and without regard tr;-the adequacy of arty security for the indebtedness se-
<br />cured hereby, to-'enter upon and take-poagession o'( the-m^.rtgaged premises, and to collect and receive the rents, issues and profits
<br />- _ thereof, and `apply the:sarire, Less costs of operation and-rn3leet3on, upon the -indebtedness -secured- by this mortgage; said- rents,
<br />-- - issues-sled-ptvrSta being~~hereby aeaigned-to the Mortgagee-as further security for the payment of ail indehtedness. secured hereby.
<br />The Mortgagee shall :have-the power to appoint any agent nr agents it rosy desire for the purpose of repairing said prerfr•
<br />' -tses_ reatne-the same rnllectine.ttse rerrta,_r~v_ues and inc~,mo- and it cosy pay ....r ~r ta,d ... . __ Stl o _ o - _
<br />- -ing and managing the~same.and o[ eoliecting the rentals therefrom- The balance remaining, d-any shall bemapp6ed toward the •-;
<br />i1i~hatge of the mortgage indebtedness.- This assignment is to tenninafe and became null and void upon release of this mortgage.,ry.
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