|
<br />t-.!
<br />L 1Ls mortffaffot eorttsaa~n and i saes as fatilrwa:
<br />a. fie wiII l~PdT IgT ~ indebtst~ess arideoeed bT +rid pomitwey sate ss flea tizaa astl i the
<br />tosser therein provided
<br />lt. li wilt pap all tttttes, assnsastmtar water rates, sad other gorexsamal or ttat~eipal dtaepr, semi ar
<br />ltdpadtiorr, for which pro-ition ter ttwt bees made heeemltafore, and wIII ptroaptlT dd'ner ttae steal reeripet.
<br />tfaeefor to the acid motnga floe.
<br />c. He will pay such expenxe and fees se may be incurred is the protection and maintenance of said
<br />property, including the fees of any attorney employed by the mortgagee for the twlhxtiea of any or all of
<br />the indsbtedner hereby secured, or for foreclosure by mortgagee's sale, or ~rt pnmetbngs, or in say other
<br />litigation or proceeding affecting acid premises. Atiotneys fees reasonably incorrect is say other way shall be
<br />paid by the mortgagor. .
<br />d. For better ecenrity of the indebtedness hereby scented. upon the rstptest of the mortgagee, its seta
<br />neaeon or assigns, he shall ezecvu artd deliver a anpplemental mortgage or mortgages co+esiag say additiorte,
<br />imprrovenr~enta, ar betterments made to the property hereiuahevs dexribed :nd all property asgnirr-d-hy
<br />it after the dau hereof {a11 in form satisfactory to rnortgagce}. Furthermore, should mortgagor fail to care
<br />~. say default N the psyrttent of a prior or inferior encumbrance on the property described by thisiovtrumertt,..
<br />portgagor hereby ogres to permit mortgagce to cure such +iefault, bat mortgages is not obligated to do ao;
<br />and such advances shall become, part of the indebtedner secured by this ioetrumeot. subject to the same
<br />tertm and conditions.
<br />e. 'Che rights created by this conveyance shall remain in full force and effect during am postponement
<br />o!r extension of the time of payment of the indebtedness evidenced by said promieaory note or any part thereof
<br />secured hereby.
<br />f. He will continuouah• maintain hazard insurance, of each type or types and in such amounts as the
<br />mortgagee may from time to time require on the improvements now or hereafter on said property, and
<br />will pay promptly when dtu any premiums therefor. All insurance shall be carried is compaoin acceptable
<br />w mortgagee amd the policies and renewals tlteeeof shall be held by mortgagee and bare attached thereb
<br />tar payable clattsm in favor of and in form acceptable to the mortgagee In event of loss, mortgagor will giro
<br />"smnts:diate rxotise in writing to mortgagee, a~ mortgagee may mske proof of loss if sot mods promptly by
<br />mortgtsg4r, sad each itrurancs company concertred is berebp authorised and directed to males payment for catch
<br />lass directly to mortgages instead of w mortgagor and mortgagee jointly, and the ittsnrame proceeds, or +my
<br />part thereof, may be applleil by ttsortgagce at its option either to tits reduction of the indebt,-daces heretty
<br />aacured or to the resiotatitm at repair of the property damrged or destroyed. In erect of forecfesare of this
<br />mortgage. or other ttatssfer of title to said property in eatinguishtrtcnx of the indebtednms secured hereby, ail
<br />right, title, and iriterat of rho mortgagor in and to any insurance policies thin is forts shall par to the
<br />purchaser or mortgagee oq at the option of the mortgagee, may be surrendered for a refund,
<br />g. He will keep all buildings and other improvements on said property in good repair and condition;
<br />will permi4 commit, or suffer tw waste, impairment. deterioration of said pmperty or say part thereof;
<br />in the event of failure of the mortgagor to kcep the buildings on said premises and those erected on said
<br />premises or improvemenLS thereon, in good repaiq the mortgagce may make such repairs as in iro discretion it
<br />may deem necessary for the proper preservation thereof; and the foil amount of each and every such payment
<br />shall be immediately due and payable and shall be secured by the lien of this mortgage.
<br />h. He wiA not voluntarily create or permit to be created against the property subject to this mortgage
<br />any lien or liens inferior or auixrior to the lien of this mortgage without the written consent of the mort-
<br />gagee; and further, hr. will keep and maintain the same free from the claim o[ ail persons supplying labor or
<br />materials tar eorestructian of any and ail buildings or improvrmentsnow being erected or to be erected on
<br />said prtanises.
<br />i. He will not rent ar assign any par! of the rent of said mortgaged property or demolish, or remove,
<br />or aubatantially alter an}~ building without the written consent of the mortgagee.
<br />- j. Ali awards of damages in connection with say condemnation for public use o[ or injury to any of the
<br />property subject to this mortgage are hereby arigrced and ehaR be paid to mortgagee, who may apply the
<br />- -sofas to paytttettt of the ittatalhite~te last dtae under said Hate, attd mortgagee is hereby avthoiiesd, in the
<br />name o! arts mortgagor, to execute and deflect valid acquittances thereof and to appeal from any such award.
<br />k. The muctgaga ehxll have the right to inapcet the mortgaged premises at any reasonable time.
<br />-- -E, Default in-any-af tlxs covenants or conditions of this iuetrument or of the awe or loan agreement secured
<br />aha32 tcrminbr.._tk,.. mnrr_r jai s rghr tin „ _ sad a en_t of the property, at the nation of the
<br />hemtYa`-_______-_____~._____-..__ - _ _ _ r_.-__ _-~ -
<br />gtgrtgltget or his assigns lit being agreed that the mortgagor shall have such right mdil drfauh}. l~~pon any such
<br />+ipfattlt, the nwrtgagce xhaTl became the owner of all of the rents sad profits accruing after default as security
<br />fair the indslnadness secured lterehy, with the rir}u to Corti trpor, said property for the purpose of rolh:cling such
<br />rash apd prafw. Thls itWruntrnt shall operate as an arigttrtattnt of say rentals an said propert} to that extent.
<br />
|