|
<br />8~- i.1ti~Q~$
<br />d. For better saurity of the ittdebtedntts hereby srrnrod, upon the request of the txtortgaget, its successors
<br />err assigns, mortgagor shall execute and deliver a suppkmenta} mortgage or mortgages covmttg any additions,
<br />improvements, nr betterm,.nts made to the property herei~bove described and all property acquired by it after
<br />the datr hereof (all in form satisfactory to mortgageel• Futhermare, slwttW mortgagor faH to ctrrc any default
<br />in the pay[nntt of a prior or inferior encumbrance on the property described by this instrument, mortgagor here-
<br />by agrers to permit nrortgsget to cure such default, but mortgagee is not obligated eo do so; oral such advantxs
<br />she}I becorm pstt of [he indebtedness utt[red by this ir[Sintnxnt, subjat to the same terms and co~itions.
<br />e. The rights created by this conveya~e shal- remain in full force and effect doting any postponemrnt or
<br />erttertston of the time of the paytnertt of the indebtedness evidetxed by Said promissory note or [rota, or any
<br />part thereof xcttred hereby.
<br />f. To contimfously maintain hazard insurance, of such type ~ typo and is such amounts as the mort8a8a
<br />may from tune to time require on ttce improvements now or hergfta on said property, and will pay promptly
<br />when dot any premiums therefor. All insurance shall be carrkd in comtranies acceptable to rortgagee and the
<br />policies aml renewals thereof shat} be held by mortgagee and have attached thereto loss payable clauses in favor
<br />of and in form acceptable to the mortgages. In evmi of loss, mortgagor will givt immediate notice in wriFing
<br />to mortgagee, and mortgagee mad make proof of loss if not made promply by mortgagor, and each ittsuranes
<br />company coacerntd is hereby authorzed and dirtctcd to make payment for such loss directly to mortgagee
<br />instead of to morgagor and mortgagor jointly, and the insurance proceeds, or any part thereof, may be applkd
<br />by mortgagee at its option tither to the reduction of the indebtedness hereby savred or to the restorstioa or
<br />re~ir of the property damaged or destroyed. [n event of fareclasurc of this mortgage, or other transfer of tick
<br />to said proptnry in extinguishment of the indebtedness secured hereby, alt right, title, acrd inttrat of the
<br />ntoetgagar in acrd to env insurance policies then in force shall pass zo the purchaser err mortgagee or, at the
<br />option of the mortgagee„ may tx surxtndered For a rrfund.
<br />g. To kelp all buildings and other irnprovcments on said property kn good repair and condition, rto
<br />permit' commit, or sufftrt no waste, impairment, deterioration of said property or any part thereof; firs the event
<br />of failure of the mortgagor to keep the buildings on said premises and those erected ao said premise, ar
<br />improvements thereon, in good repair,. [he mortgagee may make such repairs as in its drscrction it may deem
<br />netrssasy for the proper ptEStrvation thereof; ant [he fat} amount of each and every such payment shall be
<br />immediazely due and payable; and shall be secured by the }tin of this mortgage.
<br />h. To not voluntarily crra[e or permit to be created against the property subject to this mortgage any lien
<br />or titms inferior to thr lien of this mattgage without written consent of [he mortgagor; and father, that mort-
<br />gagor wi}} keep and maintain the same fret from the claim of all persons supplying labor or materials fur tom
<br />struction of arty and all buildings or improvements now being erected or to be erected on said premises.
<br />i. "}'a not rent or assign any part af' the trot of said mortgaged property or demottsh, ar rcmovr, or
<br />substantially aitu.=r any barikding without the written consent of the mor[gagce.
<br />t. A}t awards of Vintages in couttection with any cottdcmnatian Cot pubGe use of err inlurY to any of the
<br />}..°a(;sFty subjec,[ [o t#tia ertor[gagt are I,te.rtsgr assigned and shall be paid to tttangag'et, who may appky Eht same to
<br />It~vlntnt of the it~ta.llrtztt±ts 9a_st ,=+o=e undee said ante, and mortgagor is hereby tiutbari;atv~, in iht rzante of the
<br />mortgagor, to tsecutr acrd de}ever yelled a[:quittancts thereof and to aggro} from any such award,
<br />k. The mortgages steal} have the right to inspect the mortgaged premises at any reasonable time
<br />1. To comply with the provisions of any tease if this Mortgage is on a leasehold. If this Mortgage is on a
<br />unit in a ~rntdominium or a planned unit development, Borrower shall perform all of Borrower's obligations
<br />under the declaration or covenants creating or governing the wndomittium or platurcd unit development the
<br />bylaws and regulations of the cattdominium or planned unit development, and constituent documents.
<br />r:. fStfau}t in any of ohs covenants or eoaditions of this instrument or of the note or loan agetment secured hereby
<br />stead termtoate tilt mortgagor`s right tai ptrsseasion, use, and rnjoymen[ of the property, at the option o[ the
<br />rnortgsrgte or assigns (it fixing agreed that the mortgagor shall have such right until default). Upon any such
<br />default, the mortgagee shat} become the owner of all of the rcats acrd profits accuring after default as security for
<br />tti~ indtb[edm:ss scoured htrtby, with ekx right to toter upon said property far the purpose of collecting such
<br />rsrttts sand profits. This instrument shalt operate as an assiglsrt~ni of any rentals on said property to ricer extent.
<br />3. If the taorigagor defaults, acrd fails to make any payments whin dot or to conform to and comply with any of
<br />Litt s~taditiotts ar agreements containai in this mortgage or the notes which it stcura, thin the entire prirtcipat
<br />as~Y~ int€3est shall at o~ becvtt[t dnr atni payable, a~ draw _ ± per cent (.1,LQ.Ws) interest
<br />iftrr unto Datd at Lice ekv:aon of ttte mortgagor; amt this tnartgage Wray thereupon be f~egt~ted fmntediately
<br />for tilt whole of tht itsd~,bttdtuss htrtby scrtrrcd, including the cost of extending the abstracK of tick from the
<br />dart of this. trtartgage to the time of comtnenciitg such suit. * SeveuLeen
<br />4, ire the e+'erat of a t`aecltxtwt or default as provided herein, the rttortgagm ahati at once be entitled to [he pas-
<br />sessioar, ace, acrd enjaytneat of the real estate aforesaid and to the rent, issues, royalties. and trrafits thereof_
<br />Pram the aa'cruitag of such rights and during Litt petfdetrcy of foreclosure prrx~esdings acrd such possessions, rte.,
<br />1t11~f at 9 trC detrvued t9 the mortgagee upcm regYtSt, Ut%ln fallttt'C SUCK deLVefy 4f SUCh possession rosy tx
<br />MfttrCt=d by tttortgager, by any ailpiaprialC leaf prttcettlings, inClLLditlg a receiver far the property.
<br />t., 11ta l~ocx~s of any oak of said ptaperty in acc.rrdance with the praeding parattraphs shake tx applied fiat to
<br />pay tkt costs ;prd expenacx of said oak, the arptxkea incurred by the tmrtgagee Car the purpzar of prottct[ng ox
<br />raid teroprtety, sttondty, to pay the it>dli~tptapsS secured hsrettY: and thirdly. to pay ens strrplns ex
<br />az{srtu to tltrr t[!Ctt~ ar persons iegakty rateUtsd thereto.
<br />
|