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THE H087wGAt:OR FIT$THE$ COVENAPf7'S Al+fb-A6REEAj - 1
<br />That the Mvrtggyrrr .rill psy the irWLWs'dfres as hareintsNore pmnded 80~~ t" ~j r`
<br />That the Mortgagor ie the owner of said property in fee simple a»d has good right and (awful authority to sell sort
<br />convey the sartte and that the sass is fees aruf clear of any lien or errtromhrarxe: and that .L{erigagor •.vili warrant and wtdfe^d taw
<br />title to said pmniaes against life Chas ref ad pweraarra +drovwaoeaer,
<br />Tn pay }mmediately when due aad payable ell genera[ taxws, speciaF tares, special asessmenG. water charg+ts, sewer serv-
<br />ice charges, srtd other taxes and charges against said Property, and alt fazes levied nn ttw debt secured hereby. oral to furnish tfia
<br />Mortgagee. upon rxytcest, w(th the original ur duplicate rece(pts therefex. Tire \;nrtgagor agrees that there sbaH be. added t4 -
<br />rach monthly payment required hereunder or under the evidence of debt secured fierehy an amount estimak-d by the Mortgagee
<br />to be suRicianst to eaabk the Mortgagee to pay. as they berome due. ag fazes. aaeesemend, and similar chargwra upmt the-pE+ss---
<br />ieea subject theretS; any deficiency Mrause of the insufficiency of such additional payments sfiatl Ix. (orthw•ith depastted hY firs -
<br />Moregagar with the Mortgagee uiwn demand by the :Mortgagee. Any default under this Paragraph shall be deemed a rMfault in
<br />payment of taxi, assexsments. nr similar charger, required hereunder.
<br />The Mortgagor agrees thaE there shalt also be added to each monthly payment of Prineipa! and interest requ}real here•
<br />under an amount ea!dmated by the Mortgagee to t>P suRtcient to enable the Mortgagee= tr. pay, it become-s due, the insurance
<br />premium on any insurance pokey delivered to the Mortgagee. Any deficiency because of the insu(ficierxy of such additiotal pay-
<br />menks shalt-be forthwith deposited by the Mortgagor with the Ylortgagee upon demand by tAe Mortgaged. Any defaule undai this
<br />paragraph shall M deemed a default in the payment of insurance premiums. If the policy or prNicies~deprrsited are such a8 librrre--
<br />owners nr all risk policies, and the deposit; err- insutfirient to pav ffie .entire premium, the Mortgaged may apply the depaa8 to
<br />pay premiums nn asks required to be insured try this mortgage. ,
<br />Payments made f>y the Mortgagor ,order the sheer paragraphs may. at the option of the Mortgagee, behdid~hy iE and
<br />commingled with other such funds nr its own funds for. thY payment n£ ;uc:h items, and unlit so applied, ;uch payments am hereby:
<br />pledgdd as security for the unpaiG balance u( the mortgage indebtedness
<br />i~u prx re, deliver ± nrl m main far the !mneBt of :he Sfo rteagee during th«• life of this m rigage riginel pnli~ - and
<br />renewals then'n>f,udelivermd at Iw-sst tam o-rlavs brvfore :bo rx p, ratron of env arch (,oim~es. !asu nog against fire and other insurable
<br />hararda, casualties, and contingencies as the Mortgagee rnny require, in a amount equal W Lhe indebtadmeae secured by this
<br />Mortgage. and in comp~niee a.reptah3e ^, the- Mortgagw*+~, w~o-th Inca payahf,r clause in fa•ror n( and in form arrmpta}wte 1o the. Nor[ga-
<br />gee. In the event env l.,r,bry r- run. r wwvi o ~ r k>,~,(ere days ,~f d:5 a=xpira.tiur., the Mw:rctgagee may Prcw:urs• insurance an the
<br />impnrvwment_a, pay the premium therefne and ~;rueh ;r m >harl [n hrr..rne ,nun.edtately due a.rsd payable wish inienrst at the race set
<br />forth in r-aid note until polo and shall tee .e< red to-.; chi. rnrrrt;aK+^ F,nlure nn Ihr part of the "Mortgagor to Cur,niah such renewals
<br />as are herein required or failuc«~ to pay any auras advanutrr'I herrwraier .;hall, at the option r,[ the Morigs,g,ed, wparv,natitatw a default
<br />under the [e=ores ut Ahrs mortgage. The d<•liven: ,.f +uah i:~~nfiri.•s ,;hall. ,n tlo-e event of default. constitute= erro iessdgnmdnt a€ the tor.
<br />coined premium.
<br />Any s s c ved by the 'Vlortgaaee by r son ~,( !s, ~~r nags nst rr i he n-tamed by the Mortgagee
<br />and applied Wwarcl rthea pav ant o[ the debt hereby ass red. at the optw 4efe[he ~Sungagee - .n . ro-iher -wh !1 ,r r
<br />a '' u y , n
<br />pert may be paid over to the Mortgagor ta• 6e used :o rr-pair ,uch huddings or to build new buildinKS m their place or for any
<br />other purpose n object atistacwry to the Mortgagee wrth,nrt aHev-t+ng the hen .o the mortgage f.a the full am~~unt .eru red here-
<br />by before +uch payment ever tusk Place.
<br />Tn pnamptly reps ,eslore ~ rebind a - .ru don„ mpr - cots n ~,r hereafter o the pr s which may be-
<br />come damaged ur desln,yedf ro keep said premisesr•i xrrl cundrtcun and rm and Cree from any mrchanic=her= a oche: lien or
<br />clawm of lien nut expressly suMndinated to the lien hereof: not to suffer gar frermwt am~ un€awful u of .z any .ursarsce to exist nn
<br />said prairdrty our w trermat waste un saad Premises. e-r t., ,Ina r,ther act whereby ?he ;. n,fx•rty hereby cu seed .hall become
<br />less valuablm nrrr to diminish ur impair its valor by a - act „r ,.micron to act: ro c,nnph wrth all r ~wrementsn~f dew with respect
<br />ter the mortgaged Premtses and the use the reef.
<br />That should the premiss=_s or pert rh~rrut `,.~ taken >r ~tamagrd f,v r . , of ant punhc o-mprnvrmrnt ~; condemnau~on
<br />proaeadtng nr tinder the right ui e Went !< >ti*e a c~ tt tit ay ~.: hall h - entitl d t., ofd cumpernatsnns,
<br />awards-. and any other Payment . rreEie~ tt f ~ ..n>{ h It M: ,;a rl d, ~ trir .. .. : mme.,a.., aP;xa: r . o ., prus~uta i_ _
<br />own name any action ur pruceedinK. r m make any .umpn s ~ •¢lement . ~ ectian with .ucb takmg~ rJdamage Alt such
<br />compensation, awards. damages, rightuof action and prer<-eeds a e hereby assigned tonthe Mortgagee, who may, otter deduttrng
<br />therefrom ail its expenses, release any moneys su received by it or apply the name on any indebtedness secured hereby. The Mort-
<br />gagor agrees to execute such further assignmentx of any cnm(xnsahon, awards, damages, and rights of action and prxrwxls as the
<br />Mortgagee may require.
<br />That in case of failure [o perform any of the covenants herein. the Mortgagee may du nn the Mortgagor's t,ehalf evervthirg
<br />sp covenanted; that the Mortgagee may also du any act it m v deem r a-scary m protect the iron thereof, that the Mortgagor will
<br />repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes, and such moneys together with
<br />interest thereon at the rate provided in said note shall become so much additional i debtedness hereby secured and may be i -
<br />cluded in any decree (ordclosing this mortgage and !>r paid out of the rents o roceads of sale of said premrses i( not other vise
<br />paid,, that it shall oat 6e obligaGrry upon the Mortgag..v to mqu nto the validity of a -- Len, a mbraner,. n claim ad-
<br />vBOCirig m«reys as above authorized, but nothing heroin contained shall be corutrued as regwrrng the JMurtgagee to advance any
<br />rnotteys f~-any ateb pugase nor to do any act hereunder; and that Mortgagee shall not loco: any persural liabi{ity twcause of any-
<br />tttingut may do or snit to do hereunder.
<br />In [he event rr( the .:d[ault by Mortgngor ,n the irayment n( any installment, a requirwi by th.~ Vote . ,rd hrr<d,y
<br />in the performance of the obligation in this mortgage ur in the na'.e secured thereby, the~Mortgagee shall 6e enttled ter dxVare the
<br />debt sgeuaed hereby due and payable without notice, and the Mortgagee sha{I he entitled at its option, without notice, either by itself
<br />or by a zeCeiver Lo 6e appointed by the court thereof, and without regard to the adequacy of any security fur the indebtedness se~
<br />cured hereby, In enter upon and take PosSessiod of the mortgaged premises. and to rnllect and re ve the rents. iss as and profib
<br />thereof, and apply the carne. .Ides crrsfs of operation and rollectinn, upem the indebtedness seCUredi by this mortgage: said rents=
<br />lanes acrd profits being hereby assigned eo the Mortgagee as further .security tar the Payment of a}I mdelitedness secured hereby.
<br />The Mortgagee shall have the power to appoint any agent o agent. it may desir.• for the purpose of rn Pairing ,a <i Prem-
<br />ises; renting the same, collecting the rents, revenues and incwne, and rt may pay out of card m « all .-xpenscs mrvrred m renb
<br />ing and managing Ehe same and of collecting the rentals Iheret~om. •Che balance remaining, if any, shall he applied toward ttie-
<br />nacharge of the mortgage indebtedness. Thhc assignment o-a to terminate and become null and void upon release of this mortgage.
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