|
<br />d. For better security of chc itidebtedriess hereby secured, upon the request of the morsgagee, its successors
<br />w assigns, mortgagor shall execute and deliver a suppiemrntal mortgage w mortgages covering any addikiorrs,
<br />improvements, or bettermenu made to the property hereinabove described and all property acquired by it after
<br />the date hereof (all in form smssfactoty to martg}- Fut}tertnort, shottki mortgagor fail to cart any otfanlt
<br />in the paYmcnt of a prior or inferior eticumbranee on ±he property described by this ittsminiem, mortgagor here:
<br />by agues to permit ttrongagec to cure such default, but motrtgagec is tort obligated to do so; and such advances
<br />nhall becorne part of the itxSebitdrieas strurtd by tha itiatnttnent, st[bject to the same terms and eonditit>t~,
<br />c, 'T!x rights crated by this con~tyatioe shall rettiain in fnl} force and effect during any postponemrnt or
<br />extensicin of the time of the payment of the ittdeirtedruss evidrnctd by said promissory lino of riate6, w asq
<br />pan thereof saurai hereby.
<br />f. To continuously mairtain hazard inwratice, of such tape or typo and in such amounts ea the mortgagee
<br />tnaY from *~me to time require on the improvemrnts trove w Ftereafttx on said property. and will pay promptly-
<br />- whrn dtie any premiums therefor. Alt insuratce shag be carried in companies aee~table to tnortg,t~e and the
<br />pofiaes acid raxwals thermf shall be held by mortgaget and have atlaehtd thlacto lass petyabk tdauses do favor
<br />of and in form acceptable to the mortgagee. Fn twrnt of loss, mortgagor will give immediate notice in wtitiag
<br />to mortgagee, acid mnrtgagce may make proof of loss if not made promptly by mortgagor, and eadi itrsttraitce
<br />company concuned is hereby au[horized and dirtx[ed to make payment for such loss diitctly to mortgagee
<br />irratesd of to mtmgagw and martgaget jointly, and the insurance protxeds, or anq plat tbereof, may tie nppliod
<br />by mon'gagee at its option either to the reciuctirm of the indebttdtiess hereby sxttred or to t~ re3toratitet or
<br />repair of nc~ property- damaged or des[royed. !n event of forectasurc of this mortgage, or other trat[sfer of title
<br />to said property in rxtinguishmmt of the indebtedness secured tlcreby, all right, title, and imerest of the
<br />mwfgagor in and to any insurance policies then in force shah pass to [he ptuchaser or mortgagee w, at the
<br />option of the mongagct, may be surretidertd for a ret'nnd.
<br />g. To kelp all bttiWirrgs and other improvements on said property in good repair and condition• to
<br />;permit, commit, or suffer no waste, imparrmmt, titteritiration of said property w any plin thereof; in the event
<br />of failure of the mortgagor to keep the btdtditigs on said premises and those erected on said premises, or
<br />improvtmx»ts thtrrnn, in good rtpsir, the mortgagee may make such repairs as in its discretion it tray deem
<br />iteeessary for she proper presmation thereof: and the full amount of each and every such paymrnt shall be
<br />immediately due and payable; and shaft tx secured by the Lein of this mortgage.
<br />h. Ta not voluntarily create or permit to be created against rite property aubject to this mortgaxt any Lien
<br />or liens inferior to the lien of this mortgage without written consent of the mor[gagce; and father, tha[ mon-
<br />eagor will keep artd maintain the same tree from the claim of alt persons supplying tabor or iiiateriaks for con-
<br />struction of any and alt buildings w improvatitnts tww being tinted of to be erected on said premises.
<br />i. "fa apt rant tx assign any part of the rent of said mortgaged property or demolish, or remove, ar
<br />=ubs~atisdly niter arty bisittting wi[hs>:_t the tsrittrn ctinsrni of the mortgagee.
<br />j. lull awards of darriagcs in cannectian wrth coy condtmnattan for public use of at ;njury to any of the
<br />p.apttty subject to the me.^.¢ ar¢ ?:xr:by assis.^:¢; aei^,: sttalf bt pai;i tc ~.~rtgagae: ;vha may a~sly the saarnt to
<br />tiaytiient of the iastatixxxats Iasi dart under ~ Wort, and mongatxcc is hereby authwizni, in the name of the
<br />mrotttLigor, to easa:utt and deliver valid acquittances thereof and to appeal from any such award.
<br />k, The mwtgaget shag have the right to inspect the rtiongaged prtmisp at any reasonable time.
<br />i. Ta catnttly wi[h tax provisions of any feast if this Mortgage is on a leasehold. If this Mortgage is on a
<br />anti ut a crondomfnlum ur a piantital unit developrrxn[, Bonowtr shall perform all of Borrower's obligations
<br />under t1re dtclaratiam w covmanes creating w governing the condominium or planned unit developmcnt,the
<br />by-taws and regillatitxis of the condoiinium or plantred unit development, ata! carrstituent documents.
<br />2. Default in any of tax covenants ax conditions of this instrument or of the note or loan agcemtnt secured hereby
<br />shall ttrmiiia[e thr mortgagor's right to possessiat, use, and enjoyment of the property, at the option of the
<br />mortgagee as assigns (it bring agreed that the mtutgagor shalt have such right until default}. Upon any such
<br />default, the trrtuigagee suit became the srwiits of all of the rents and profits accuring after default as security for
<br />tits itidt#itedtitss stxurtd hereby, with the right - + enter upon said property i'or the purpose of collecting such
<br />rtrtts and profits. This iasvurticnt shad operate a u assignment of any rttttais on said PropenY is that catent.
<br />~, If tits tttarigagru defaults, and fails to make any paynitius when due or to atmfortn to and comply with any of
<br />t:it ~ or writs t-ontained in this mortgage w the notes which is sexures, tfrrn tM rntire principal
<br />tt~s avid a~rutsi itttertat shalt at once btcomt dam sad payalift. cad draw _ * _. per sent t1Ei,..~.id°~3 intuest
<br />thrrtafter unfit paid at the elation of the mwtgaget; and [his mortgage tray ttiertnpon be foret:iosed immedia[tiY
<br />far the whale of the it~ebtetlatss htrtby sxiiraxl, incit[dittg the cast of extetrding the absvaet of tint from the
<br />dots of [.his taortgagt to the titix of coriunencing sut;h suit. * sixx-een and One-half
<br />{,- ~ #n the event of a fareelsxturt w defauk as swovided herein. the martcaftet shalt at citstx be entitled to the an,_
<br />- --- --- ----- - - ~ T-
<br />session, use, anti tnjoynittnt cif tax real tstat¢ aforesaid amt to the r¢nt, issues, royalties, and profits thereof,
<br />from the ttssatut~ of wash xigtits and during test pendency of fareclasurr ptaceedings and saCh passessiotts, etc..
<br />shadl at Dora be dekivtral to the ttroripagee upon request, upon failure sash detivtry of such poasesslon may be
<br />ttiiar,:~i by tffiorigag«, by any apprupriatt kgai proaediiigs, irwhidityt a te,;tiver for the lxuptrty.
<br />~. 7tie lxacttds of any sate of property in accardautr wit$ the prt~^t{tittg paragra~s s~ti bt apptted first to
<br />i trtt ~-cxsitt and tsxps of t9 , tbt t±r~[t,~s #xxt[rtt~d hY xtx x;uirtgagee i,.r the ta:rp..ae o: ,~t<x¢it;ttt€ .>i
<br />~asag stead 63YCr#iarty, stc+fndty, to faty the ittttxu steurtd ittrel>y, aa;! ttiirciiy, to ace arry surt+itcs cii
<br />ett€~834 is tilt YKtCSa7ri ;Y isrrsc'xtti iegxifv earit~d tttt^rtia.-
<br />
|