|
<br />d. For betttt security of the indebtedness hereby secured, upon the request of the mortgagee, its successors
<br />or assigns, mortgagor shall execute grid delivtt a supplemental mortgage or mortgages covering any additions,
<br />improvements, or bettertrtrnts made to the property htreinahove described and all property acquired by it after
<br />tfie date hereof (all in fotzn satisfactary to mortgagee). Futhtrmore, should mortgagor fait to cure any default
<br />in the payment of a prior or inferior encumbrance an the property described by Lhis instrument, mortgagor here-
<br />15p agrtcs to Pcrmit ~ ~aaga to cure s.xh d:fat.~*., but mortg~gte is not obligated to do so; and such advances
<br />s~!t bbP£on'-ts pan of the indebtedness secured by this instrument, subject to the same terms and condetions.
<br />r. The rights t7tated by this conveyance shall retaain in full force and effect during any postpotrcment or
<br />txtestsion of the time of the payment of the indebtedness evidenced by said promissory note or Watts; or any --
<br />pate thcreof stttsred hereby.
<br />f. To continuously truintain hazard insurance, of such type or types and in such amounts as the mortgagee
<br />may from dame to time require on the improvements now or htteafter on said property, and wilt pay promptly
<br />when due any prsmiutns thttefor. Al! insurance shall be carried in companies acaptabtc to mortgagee and the
<br />ptslicitS and renewals thereof shall be held by mortgagee and have attached thereto lass payable clattsts in favor
<br />' of and'in form acceptable to the mortgagee. In event of loss, mortgagor will give immrdiate notice in writing
<br />~,~ to mortgagee, and mortgagee may make proof of, lass it not made promptly by mongagor, and each insurance
<br />~_y company concxrned is hereby authorized and directed to make payment for such Ions directly to mortgagee
<br />instead of to mortgaear and mongaga jointly, and the insurance proceeds, or any part thereof, may be applied
<br />~'
<br />~ by rnongagce at its option either to the reduction of the indebtedness hereby secured or to tht restoration or
<br />repair of the property daieaged or d~zroyed, In event of foreclosure of this mongagc, or other transfer of tide
<br />to said property in extinguishment of the indebtedness secured hereby, all right, tint, and interest of the
<br />mortgagor in and to any insurance policies then in force shalt pass to the purchastt or mortgages or, at the
<br />option of the mortgagee, may be surrendered far a refund.
<br />+~-t
<br />~ g. 'Co keep alt buildings and othtt improvements on said property in good repair and condition; to
<br />pcrntit, commit, or suffer no waste, impairment. deterioration of said property or any part thereof; in the evrnt
<br />of fai}ure of tht mortgagor to keep the buildings on said premises and those erected on said premises, or
<br />irrtpruvemrnt.s thereon. in good repair, the mortga$ee may make such repairs as in its discretion it tttaY dam
<br />necessary for the proper Preservation thereof; and the full amount of each and every such payment shat! be
<br />imtrndiate:y due and payable; and -shall be secured by tfie lein of this mortgage.
<br />h. To nor voluntariiv create or permit so lee created against the property subjecx to this mortgage any lien
<br />or lions inferior to the Lien of this mortgage without written consent of the mongagee; and futhtt, that mort-
<br />gagor Witt keep and maintain the same free from the clatm of alt persons supplying labor or materials for con-
<br />struction ttf any and alt buildings or improvements now bring erected or to bt erecud on said premises.
<br />i. '1"o not rent or a-sign any part of the rent of said mortgaged property or demolish, or remove, or
<br />substantially after any building without the written wnsent of the mortgagee.
<br />j. A-t awards of damages in connection with any condcmnazion for public use of or tnjury to any of the
<br />property subject. to this mortgage are httcby assigned and shall be paid to mortgagce, who :nay apply the_ same to
<br />paytcent of thr ittsta[-mcnts test due under said Hats, and mortgagee is hereby authorized, in the name of the
<br />mortgagor, to execute and delivtt valid acquittatx:es thttcof and to appeal from any such award.
<br />k. '[`fir mortgagee shall have the right to inspect the mortgaged premises at any rcasonabic time.
<br />1. Ta romp}y with time provisions of any ieasc if this Mortgage is on a leasehold. If this Mortgage is on a
<br />unit in a ctxtdominium or a planned unit devetoprrtent, $orrowtt shall perform alt of Sonower's obligations
<br />utyder the dec}arauon or lovraants 47eattng or governing the condominium or piantted unit development,the
<br />by-taws and regulations of the condominium or planned ttnia development, amt rnnStitntnt docutttents.
<br />3. 13efau-t in any of the covenants ~ conditions of this instrument or of the none or loan ageement secured hereby
<br />shalt tertninau the nwrtgagor's eight to pcisSession, ass. and enjoyment of the pro{xrty, at the option of the
<br />taoxtgsga or assigns (it bang agreed that the mortgagor shalt have stub right untZ default). Upon any such
<br />fault, the traxtgagte shall brcotae the owner of alt of the rrnts and pra6ts aceuring after default as security for
<br />the iudcbtrdttsss secured hereby. with the ngitt to enter upon said property far the purpose of collecting such
<br />rents attd profttS. Thts instruttKrtt shat} opcrate ag an assigument of any rentals on said property to that extrnt.
<br />3. if the rnart~o- defaults, at,x! fat>f to taake any paymstts whin due or to conform to and comply with any of
<br />tine t~aditiotss or agamertts rontaitted in this tnartgagc or the notes which it secures, then the entire prittsipal
<br />stem and atx7twd intrreSt sisal! at otux bceottu duo and payable, and draw ' ptt cent { Zt3.~a) iruerest
<br />tbereaftd` unfit ~ u the elation of thr mortgagee; and this mortgage rtny thtteupon be foreclosed immediately
<br />f~ tltt rrl3olc a# the icdtttss hereby ssi~tred, itw.lutiing the cast of extending the abstract of title from the
<br />dattt:f this n~ttg to the titter of cotnmsncing such suit. •;`igttteen Percent
<br />~. t8 test evast of a foraeltasutt or tlttautt as provided herein, tits mortgagee Shall at once be enttt~d to the pos•
<br />aessicn, troll, and enjoytent of ttte rant estate aforesaid atul to the rent. issues. royalties, and profits thcreof,
<br />ftom tAr ttteruin# of stub rights and during the pcttdettey of foreclosure proceedings and such possessions, etc.,
<br />at a be ~ to the ittiNtpat~Ce upon rtxtuest, upon fttilurs Ut~t delivery of such possession may br
<br />rp4ix~ttd by taortga>)EGac, b2' any appropriate tcylel procecdittga. includitgt n waiver for the pr€tperty.
<br />~. Ttatr peat,°rteiJS of y of +taa# pr~crty in acrordattc'r with thr pracrdittg paragraphs shatf be applircl fiat to
<br />pay tear cooler attd eacP of S4ad sak; the _rxprncts %tseurrcd by the m~tgagce fat the putpao;ss of protecring or
<br />ttSihia4ttt}nisy saw property, seC~rrdty. io pay tbe-tralebtrdrstys se4vred hcrrt+y; oral thirdly, m pay any surplus ur
<br />exs:~asn err the tar+tua or prrstms legally tatitkad theauo.
<br />
|