|
r--
<br />1
<br />d. l±ar better security of the indebtedness hereby secured, upon the request of the mortgagee, its successors
<br />or assigns, mortgagor shall execute and deliver a suppletrrentat mortgage or mortgages covering any additions,
<br />itttptavsnents, or betterments made Sa [he property hereinabove described and all property acquired by it after
<br />the date hereof Earl in form sans€actory tv mortgagee}. Puthermore, should mortgagor fail to cure any default
<br />'~` in the payment of a prior ar inferior srttcumbrattce an the property described by this instrument, mortgagoe here-
<br />^~"' -
<br />oy agree tv per! iti r!!cul~g~ io ~tfc Bitch uccnu:t, butra:'cgag~ is not ab(igat~ to do so; and such a vatxes
<br />~~ b~gtnn ~n of the indebted~r~s secured by this instrument, subject to the same terms and conditions:
<br />`-~ e, The rights creased by this convevana shalt remain in fu8 force and effect during any-postpottetnent or
<br />extettsioa of the -tune of the payment of the indebtedness evidenced by said promissory Hate or notes; or any
<br />part thereof pared hereby.
<br />'~ f. To eantinuousty tnaintsin hazard insurance, of such type or types and is such amounts as the morcgag~
<br />may from tutu to tithe require on the improvements [tow or hereafter on said property, wort will pay promptly
<br />when due arty' prcrnittms therefor. All insurance shall be carried in companies acceptable to mortgages attd the
<br />pctlieics and ratrrewais thereof shall be bald by mortgagee and have attached thereto Ions payable clauses In favor
<br />of and in farm acceptable to the mortgagee. In event of loss, mortgagor wilt give immediate notice in writing
<br />to mortgagee, and mongagee may make proof of lass if Hat made promptly by mortgagor, and each irtsuranee
<br />company concerned is hereby authorized and direc[ed to make payment far such lass directly to mtxtgagee
<br />instead of to mortgagor and mortgagee joimiy, and the insurance procesds, or aay part thetmf, may be-applied
<br />by mortgagee at its option either ro the redaction of ehe indebtedness hereby secured or to the restoration or
<br />repair of the property damaged or destra_red. In event o€ (areclasure of this mortgage, ar other transfer of title
<br />to said property In extinguishmrnt of the indebtedness secured hereby, at! right, titre, and interest of the
<br />mortgagor in and to any insurance policies then in force shall pass to the pwchaser or mortgagee. ot, at the
<br />option of ttte tortgagee, may ;x suercrtdcred far a refund.
<br />g. To kelp all btti)dings artd other imptavettxnu on said property in good repair and condition; to
<br />permit, commit, or suffer tto wash, tmpairtrmat, deterioration of said property or any part thereof; in the event
<br />of failure of thr mortgagor to keep the buildings on said premises and those emted on said ptetnises, or
<br />itnprovertuKSts thereon, in goal rc~ir, the mortgagee map make stteh repairs as in its distzeEiartt it tzay deem
<br />tteceasary for the proper preservation. thereof: and the furl amount of each and every such payrrtent shall be
<br />immediately due and payable: and shall be st_rured by the Iein at this mortgage.
<br />h. To teat olunt°~ily create ar permit to ire created against the property subject to this mortgage any lien
<br />m Tierra infcricu ut the lien at this morgage without written consent of the mortgagee; and father, that mort-
<br />gagor wilt keep and maintain the same free troth the claim of all persons supplying labor or materials for con-
<br />.trur.~tion of any and all buildings ctr Improvements Haw herrg erected ar to 'etc erected an said premises.
<br />i. Ta [sot tent or ass!gn any part of thr rent of said mortgaged property or demolish, or remove, or
<br />+ttbstantially alter any ttuifdittg withtt!1t the written consent of the mortgagee.
<br />,. A{t awards of damages to connectran with anv condemnation for pantie use of or injury to any of the
<br />pro!+crty s*afljest to cftis atort•~~ are hrrtbY assigned and shall be paid to mortga$re, who tnaY apply thg same to
<br />paYmeat of the installtttettts fast due under said note. and mortgagee is hereby authorized, in the name of the
<br />ntgattor, to eatccute and deliver valid acquittances thereof and to appeal from any suet[ award.
<br />>;. 7'tu ~..xigag~.hall have the :~ to inspect the martest prsrt7ises at any reasanabie time.
<br />1. Ta comply .rifh the provisions of any Ieasc if this iiortgagc is on a icasehoid, Ef this fvlartgagc is on a
<br />unit in a .;ottdominittm or a ptanmed unit ~velapment, Sorrows shalt perform all of Borrower's obligations
<br />under the dcclaratian ar wvettattts creating or governing the coadomirtittm or planned unit development the
<br />by-lawx and regulations of flu condom+nium ar planned unit devefoptttent> and constituent docutrrettts.
<br />>, fhfau_t in any t>i the covenants or conditions of this ittstrumeat ar of the note or Loan ageetmnt secured hereby
<br />ret:tdt~te the trutrtor's right so pcxxsscssion, rue. a€!st enjoyment of the property, at the option of the
<br />rtgagea or assigns {it being agreed that the mortgagor shall have such right until default). Upon any such
<br />ddattlt, she mtxtgagee shall become she owns of all of tttc rents and profits accuring after default as security for
<br />tiK irtdcittedn~s seeumi hereby, with the right to enter upon said property for the purpose of caltecting such
<br />rerny turd profbs, This ittstretsnent shalt atlerttu as au ass~n~nt of any rentals on said property to rhea extent.
<br />;. !f tlx tttor6gagor defatrlts, attd faits to tr~ke any payments when due or to conform to oral comply with aay of
<br />:Jet or asraxraeras sxxttaitted in this mortgage or the [totes which it secures, rhea the entire principal
<br />sit arttl atxrucd interest shall a anti bets dtu aril payable, and draw pee cent ( 'h) iraercst
<br />utter tttail pafu! at tJte ~ of the mortgagee: arts! this mortgage may thueupon be foreclosed itntnediacely
<br />far thG wbcde of the i~ hereby secured, irtcfudirt~ the sxxtt of extending the abstrai~t of title frotp the
<br />dtthe of this nxaregye to tJte rims of cotxtmettcing such suit. Interest sha12 be based upon C. N. B s Base
<br />lat~e~ and is w ~ adjusted t;tsastexiy an ill,
<br />4, Sa else of a fie ~ default ~ pry tterein,~ 1CtL1, an¢ ~/1•
<br />tft¢ mari;agie saau at once be entitled [o the pos-
<br />ttasl caioltructtt ~ the rral etEtate aforesaid and to the rent, issues. royahies, and profits thereof,
<br />frets the aeerui~ of such ruts alai dating flu pettt~rrey of fotet:Faattre procadings and such possessions, etc..
<br />t ~ ortse be t3ttiva~ ro the tt~rtgagee upon request, upon taihtrc such delivery of `such possasian may bt
<br />enfoacle0 by' arartga$ee, by any t kaal proesedirtgs, itadudtng arnxiver far the property.
<br />S, T~ t~ of ally sate at ~.kf proturtY cn accardsrttce with tlx preceding paragra;tJts shall be applied first to
<br />tbtgt 23iC teats wad t of said . the cxpcncxs ituurrk~t by the mtxt~tgee for tttc purpose of prtrtcs:tittg or
<br />_-- - std l~t't, ~~, fo tli~ ~edtu5s sectt~i haraby, and thirdly, to pay any surplus ur
<br />~ rs t#u perms ter txxsotrt hgta3ly erttiri~l two.
<br />
|