|
7tiE H41t7eCAGOA PLIRTHER tJOVBNANi'3 AHD A6: ' R pp`` ~ry
<br />80~~ 'J i l ti (~ :,/
<br />That the Merrtgapar will pay the irtdebtednna a7 hereinhHoer Drovidcd,
<br />That Lae Mortgagor is the 6srrser of said property in tee simple seed has good right and lawful authority to sell acrd
<br />mnvey the same srd tlutt the acme is-/tee and clear d any lien ar encumManee; and that Motgagor wilt warrarrt and ebterd fire
<br />title to said preman against the etrti~ of elf perrrrr ivhoarreoever-
<br />To peq• ianntediatrly when der and-Payable alt genera! taxes, taxa, specie{ aaseasmenta, ester charges, sewer serv-
<br />ice charges. and other Laea and charges agaitut said property, and sit taxes tcvied on the delri secured hereby, and W furnish the
<br />Mortgagee, upon irgaesk with the original or duplicate receipts therefor. Tire Mortgagor agrees that flare aMtl fie added Ln -
<br />each monthly payment required hereunder or under the evidence of rieM secured hereby an artaruni a#imatwt try the Mortgagee
<br />to be suffidetaj to eiridde the Mortaagee to pax. se they become due, ail-taxes. eaaaamretgs. soil similar t3rarpes trpors tha.tuam-
<br />ises subject thereto; any deficiency because of the insuRsciency of such additional psyrrrentz =haft he tortttwith depaYStiw- by tlrt
<br />Mortgagor with Yfre Mortgagee upon demand by the Mortgagee. Any default under tltis paragraph shat( tee deemed a rletauM in
<br />payment a{ fazes, asanacments. nr similar charges requires hereunder. - ----
<br />The Mortgagor agrees that there shall also ire atkted to each monthly payment ref principal a+d interest required. her~-
<br />under an amrwnt estrmatwt by the Mortgagee to be sufficient to enah3e the Mongagrr to pay, as it bewmes dire, the insurma-e
<br />premium nn any insu ranee policy delivered to the '.Mortgagee. Any deficiency berau~ .,( the iruulficiency of such addktirma! pay-
<br />ments sha41 Iw• forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any tiatanl4 trader this
<br />paragraph shall be deemed a default in the payment n( insurance premiums- If the policy nr policies rielicrsited are srich >s Iit+me..
<br />oitmers or all nsk pniicrrs, and the deposits are insufficient Eo pay the entire prerruum, the Mortgagee may apply the
<br />pay premiums nn risks required to 6e insu red. by this mortgage. detroart to
<br />Payments ma<le by the Mortgagor under the ahovr• paragraphs m v, at the option of the Mortgagee, Ire held hY it and
<br />crnnmkngled w•rth other such funds or its n n (arils for the Payment of such items. and until w applied, sssch payments are hereby
<br />pledged as secunty for fhr unpaid balance u( the mortgage indebtedness.
<br />Tn procure. +iolrva•r t ~ +nd m mtam for the benefit ..C fhr• Mnrkgager during Chi life of khis mortga~„ge original fnriucies and
<br />renewals thereof, defiverrd at least ten day-n },~efnrc- the r•xpiratiun ..f a wc'h Pnlicres, msunng against fire and other insurable.
<br />hazards, rasuaitkes, sod vntingenries as. the Mortgagee may require, tin an +rnaount equal to the Sndabtedrteao ascuxrd by thie-
<br />Martgage, and en oampanirs accrpfznlvk.+ ar ttae'r Stortgager, with Inns frayal+le clause ,m flavor of and in foam acne~ptahie to k$ao Mortga-
<br />gee. Ln th« event :a v I:nilirv +_ nr,i r w:rrl an or before ten dirvs of rtAi r~,tpi ratrrcxn. the Mnrtgattee may pnxivre irssuramce un. Che
<br />imprm~ements, pay the premium tti,n•r.r(r,r. ,end each <um •hal! fn•o ,roe ,mrnedielely dwr and {ra;'able with tntrre~.rt at tHte rate set
<br />forth in said natC. until Pact end ck+akl he• :era red he ffus r ortgnge Psulu nr uu tixe• trait n;f thu; Martgagnr po 9urniah survh nn±ewols
<br />as air herein requireetl „r Endure t r pac au advr i h< under ~hsll., at the r,faCion of tFir Mnrtgag+:~, constktulw a default.
<br />under the Error of this marigage "T;'her rLdi+~eav wf ,urh p,;LrvsrrMea l! nv the ev cot of ,^IrBault. rnnsntule an awsignment u( Ehr un-
<br />earned premium.
<br />Any sums r crd by the SlongaK<-e br r as„n ~,( ;.,.. ,r damage m.urM rKainsr may he retainw! by the Mortgagee
<br />and applied t weed thee pa - rot of the debt hrrrbc ~.... ed- ., , r fhr npnon „! the Mortgagee such sum. either wholly- o ir=
<br />part may be paid over tr, the r'Nortgagor to br ,r..a.I !n rrpa+r such rhw(dings „r to build n ..~ buildings +n their ;dace o ,nr any
<br />other purpose or object sat stactury to the \t„rtRaKr•~ with,:ut aff«.-ting th«- hen ~,n fhr mortgage for the foil amount secu reel here
<br />by before sorb Payment ever tcs.k place. -
<br />Tn Pr'umptly repair, resu,re , rrbu;id a - .,u,idings <, .m prr,vvmrnt n ..r hr:rsftrr n the u, -: Ere-
<br />come ciamaKed nr destmyr=d~ to keep :rid vn•r„~,,.. n. ., ..~,,.,, o.u nest a„d Gtr rchamc-em l En o other ben or
<br />n ~ . ~' i,~ » v Goo, .
<br />claim of lien oaf exprssslg subordinated to [he li m hrre•uf_ not to su Rer +. rermd 'a unlawful use .d or any nuisance t.a exist o
<br />said propeny nor io lrerrrrit waste on said premises. nor to do ,rn uth«'r act whereby the property hereby c vevrrl~shall become
<br />less valuable, nor to diminrsti n mpair its vatue• by any act or nmrvs+mi u, err, to rumply with al! req uirementsnnf !aw with :esnect
<br />to the mortgaged premises ssndrthr uu:~ thereof
<br />That should die premises ~, any pan ther<-a( br taken nr rlanuxged by r son of a c pulrl:c improvement a ndernnatica
<br />prrx~aeding, ar under the right u( eminent deanain, a other manner- fhr Murtfragcenshal! !>;- ertif!rt ±.. rtx;mlrerxsatmns,
<br />awards, and any other payment o reiirf therefor. seed vhal(vbe entit(ed, at kea npf.ion. t.o rommerrce. appear in ar!«t'prrg mute in its
<br />ow-n name any actierri or Prviceeding, or to make any mmpromi;e a settlement m nnectian with such taking or damage. All such
<br />cearrptmitation• awards, damages, right of action and proceeds are hereby asaignedc«to the Mortgagee, who may, after deducting
<br />therefrom alt its experreee, release any moneys so received by it or apply the same un any indebtedness secured hereby. The Mort-
<br />gagor agrees to execute such further assignments of any comprnsahon. awards, damages, and rights of action and proceeds as the
<br />Mortgagee may require.
<br />That in case of failure to perform any of the covenants hirer, the Mortgagee may do nn the Mortgagor's hehiil! eve rythinK
<br />so covenanted; that the Mortgagee may also do any act it may deem nec-rssan• to protect the lien thereof; that the Mortgagor wdl
<br />repay upon demand any moneys paid or disbursed by the Mortgagee for any nt the shove purposes, and such m vs togetfier with
<br />interest thereon at the rate provided in said note shall become sn much riddktiorra! indebtedness hereby .reared rand may M in
<br />chided in any decree foreclosing this mortgage and !re paid out of the rents or proceeds of sale of said premises it not otherwise
<br />paid; tlt~t i! shall not be obligatory upon the Mortgagee tr. inquire into the validity a! any lien. encumhranan, o claim +n ad-
<br />vanoing moneys as above authorirted, but nothing Fterein cantainsd shall be construed as rc-guirinR the Mortgagez to advance any
<br />rnoneyx for any such purpose nor to do any act heremrder: and that Mortgagee shall nut incur arty perarma! liabdity hecaa~r of any-
<br />thing it may do or omit to do hereunder.
<br />In the event of fhr default by Mortgagor in the payment u( any malallment. as reyuiri-d by fhr Notr saurtvl h-mby, v
<br />in the performance of the rrbligation in this mortgage or in the note secured thereby, [he Mortgagee shalt br entitled to declare the
<br />debt secured hereby dtre and payable without notice, and the Mortgagee shalt be entitled at its option, without notice, either by itself
<br />of 4y a receiver ter be appointed by the court thereof, and without regard to the adequacy of any security for the indebtedness se
<br />etited hereby, to enter upon and take poskeasion of the mortgaged premises, and to collect and receive fhr renu, issues and profits
<br />tlterad: tired apply rtes same, Sees coats of operation and collection, uWn the indebtedness .secu real try this mortgage; 'said rents,
<br />reairas anal profile being hereby assigned to the Mortgagee as further security for the payment of all indebtedness secured hereby.
<br />The Mertgagee stroll have the power to appoint any agent or agents it may desire for the purpose n( repairing said prem-
<br />itar; rentareg the acme; eolleeting the rents. revenues and income. and it may pay nut of said income all expenses incurred in rent-
<br />tag and managing the same and of collecting the rentals therefrom. The balance remaining, if any, shelf t,«~ applied toward the
<br />effecherge of the mortgage irrdabteninesa This assignment is to terminate and became null and void n release of this remit
<br />upo gage-
<br />
<br />
<br />
|