|
<br />81~-OOI$41
<br />d. For better security of the indebtedness heroby secured, upon the request of the mortgagee, its succtssnrs
<br />or assigns, mortgagor shall execute and deliver a supplemental mortgage or mortgages covering any additions,
<br />improvements, or bettermenu made to the property hcreinabove described and all property acquired by it after
<br />rite date hereof {all in farm sati3factary to mortgagee). runterntare, should mortgagor fail to cure any default
<br />in the payment of a prior or inferior encumbrance on the property described by this instrument, mortgagor here-
<br />+;~ agr~ eo ~~,_, t ~e~ to ;~ttre ~,.ch d. cult, ~'t tttm:gage°.. i., ,^at ob~gatod [o dos ;and such advartc~
<br />F~~ became part of the indebttxlnesc secured by this instrument, subieca to the same terms and conditions.
<br />s. The rights created by this conveyance shall remain in ful! force and effect during any postponement or
<br />extension of the time of the payment of [he indehtcdntss evidenced by said promissory Hate or notes, err any
<br />part th-rmf secured hereby.
<br />f. To wntitntously maintain harard insurance, of such type or types and in such amounts as the mortgagee
<br />may from time to time require an the improvements now or hereafter on said property, and will pay promptly
<br />when due any premiums therefor. All insurance shall be carried in companies acceptable to mortgagee and the
<br />policies acrd renewals thereof shaA be held by mortgagee and have attached thereto loss payable clauses in favor
<br />of and`in farm acceptable to rho mortgagee. In event of loss, mortgagor will give immediate notice in writing
<br />to mortgagee, and mortgagee may make proof of !ass if not made promptly by mortgagor, and each insurance
<br />company concsnted is hereby authorized and directed to make payment for such loss directly to mortgagee
<br />instau3 of to mortgagvr and tnartgagee jointly, aad the insurance nraceeds, or any part thereof, may he applied
<br />by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or
<br />repair of the property damaged err destroyed. In event of foreetosure of this mortgage, or other transfer of title
<br />to said property in extinguishment of the indebtedness secured hereby, all right, tide, and interest of the
<br />mortgagor in and to arty insurance policies then in Coree shall pass to the purchaser or mortgagee ar, at the
<br />option of rho mortgagee, may be surrendered for a refund.
<br />g. Tv ketp all buildings and other improvements on said property in goad repair and condition; to
<br />permit, comrt5ii, or suffee no waste, impairment, deterioration of said property or any part thereof; in the event
<br />^F f_:la~_ ,.f riv .r„~r+oa~~_.u ,n 4nwn~ rhee }„~;I~tin _.. ..9"k _......_.. _~q rh`,.._ _. °_'_'t'~1 .... ..°_iA re.nis_.c. _.
<br />improvements thereon, in gotxl repair, zhe ttrortgagee~may make such repairs as in its discretion i[ may deem
<br />nec^~ry for the proper preservation thereof; and the full amount of each and every such payment shall be
<br />imtnediatdy due and payable, and shall tee secured by the iein of ibis morigagc.
<br />h. Ta Hai valuntarly create cr pcrmtt to he created against the property subject to this mortgage any lien
<br />err lions inferior to the lien ot` this mortgage w+thaut wnttcn consent of the mortgagee: and father, titer mort-
<br />gagor wit! keep and maintain the ,ame free From the Maim of ail persons supplying tabor tx materials for con-
<br /><rr,~ction saf any and alt buildings or impraverrtents Haw bring erected rr to he erected an said premises.
<br />i. To Hat rent err assign any part of the rant of saki mortgaged property or demolish, or rertavs, or
<br />substantially otter any britding without the wnttcn consent of the mortgagee.
<br />j. All awards of damages +n connec-ttan with any condemnation lot public use aC or injury to any of the
<br />property subject to this mortgage err hereby assigned and shall bs paid to mortgagee, who may apply the same to
<br />pavtttent of tfte instgttm~±s fast due under said note, and mortgagee is hereby authorized, in the name of the
<br />mortgagor, to exaute and deliver solid acquittancxs thereof and to appeal from any such award.
<br />x. a ne mortgagee snau nays ttte ngnt to +aspect the mortgagee premtses at any reasunao c t e.
<br />t. To comply with rite provisions of any iefne if €his .'-liortgage a on a teasthold. if this h4artgagt is on a
<br />utdt in a condominium err a planned unit devdopmont, Borrower shall perform all of Borrower's obligations
<br />under the declaration or covenants orating or governing the condominium or planned unit deveiopmrnt,the
<br />by-taws and regulations of the exmdominium or planttert unit devdopment, and canstitumt documents.
<br />2. C?rfauh in any of the tovenanes err conditions of this imtrsmcnt or of the Hots or roan ageemrnt secured hereby
<br />shaft terminate the tttortgagor's right to passossion, use, add rnjoymont of the proptrty, ai the option of the
<br />mortgagee cx assigns lit being agreed that the mortgagor shalt have such right until default). Upon any such
<br />dt#autt, tip motzgagte shaiE became iht owner of alt of the rents and profits securing afro default as stxvrity for
<br />tt>` indebtedness secured htteby, with the right to enter upon said Property for the purpose of collecting such
<br />rends and profits. Tftis ittstrumettt shelf operate as an assignment of any re*ttals on said property to that extrnt.
<br />7.. l# the mortgagor defau)ts, and facile to mate any payments when due or to conform to astd comply with any of
<br />the ctntdlti~aas err at#reements contained in this mortgage or the crates which it secures, then the entire principal
<br />sttm sdd aecntetl imtreat shall at once become due and payable, and draw _! per cent (15.7'9eo) interest
<br />~r utt€il paid at rho election a# the mortgagee; and this mortgage may thereupon bs forscit+sod immediatoty
<br />for tht whole of the itttkbtedness hereby secured, ittctuding the cost of extending rho abstru-t of title from the
<br />dart of this mtrrtgagc to the firm of commencing sttch suit. ~ixte~n acrd r.A.ree-gtsaat~rs
<br />#. to the etnrtst of a fake ar dtfattlt as trrvvicitd tttrartt. the mortgagee stroll at snot rte etttitkd to the pos-
<br />hate. attd rnoytt~rst of ttta rdl taste aforesaid attd to the root, issues, royxttis-s, and profits tlirrea#.
<br />Yrrartt tht atxx+aiAg of sttcls rtgttta and tlunntt rl~ potealertcy of fortclasure procoodir~s anti such posuxsions, etc..
<br />a~i at; rte s~ to tilt ~ upon retltsest, upon iaifure such defivtry of such pass~sion may fx
<br />tatrftx~id -~~; atsy a~iatt regal ~, ittchtFdirrtg a roedver for tttc propenY•
<br />~« 'T'bR of arty salt of saki ps~erty in acc`Qrdarr4s with rite ptccz$inlt pttragraplfn, .harp br applied firW,t is
<br />pr-y ~ crud ettgttsr of sadt4 tale, the ~ ittcurrt;d by the nntrty~gee for the purpcxr of protecting ur
<br />` sttisl. Woll~tatp'. stcottd)y, to FksY fhe iatdnexs sscuresl tterebf: and thirdly. to pay anx urplu= or
<br />etrt'tat[ to ttte ptrr~rtt oe pcrsntW t,aytlllY etttittotl thfir+!to,
<br />
|