|
TflB 1(QRTGA(a~OR )r'fJRTHER ~VENANTS ARID A~RF.ES: 81 -V V 1 '~ S
<br />. :.+ ~ ~ , F"t "
<br />That ~` Msar cell! Pat /he intfebtedttesrt r hrrainbefare;provided.
<br />. That the Mortgagor is -t!rc t9wrster of said property in fee Wimple and has good rigfit and lawful authority to sell and
<br />convey the eanEtr and than-the aarneia:iree and clear °f say lisp oz erfcumbrance; anrt-tFist Martgagar wilt warrant and defend the
<br />?' .;+~ rr, wttd ptrtnfers ataitut the claims of sll~- paraom, wltoeuoever_
<br />tl To pltyii~inediatelY q`hen cane-ltd p+yabie all general-taxes special taxes, special easesvmenla, water rhae6a%, sewer serv-
<br />ice clfargea, arts; ~'Y~`t=x~ attri etrx ves'a~inst Said prayarty,` and_al! tatcea tevieii vn the debt secured Hereby, and to tarnish the
<br />Mortgagee, apttd negatest. with the original ar duplicate receipts therefor. The Mortgagor agrees that there shall be added to
<br />each monthly payment required hereurtder nr under the +=vidence of debt secured hereby an amuunE estimated by the Mortgagee
<br />W he av>flci,snt pSr. enable the Mertgas~e to pay, as they bectrme due, ail taxes, assessrerentx, and similar charges upon the Prem- -
<br />- loot strbject YHereto; eny -deficiency heesuse of the insutficiencp of such additional payments shall Fre foKhwith deposited by the
<br />Mortgtgor with the Mortgagee upon demand by the Mortgagee Any default under this Paragraph shall Fte deemed a default in
<br />payment itf toes, mats. nr similar charges required hereunder.
<br />The Mortgagor agrees that there steal! also 6e addedfo each monthly payment of principal and interest required here-
<br />under an amwint esSmatecl by the Mortgagee to be sufficient to enable the Mortgagee to pay, as it hecomes due, the insurance
<br />premium on any insurat+ce policy delivered tv the Mortgagee. Any deficiency because of the insufficiency of such additional pay-
<br />- nsents sHail 6e farthivifh deposited by the Martgagar with the Mortgagee upon demand by the Mortgagee. Any detavlt under this
<br />paragraph shall be deemed a default in the Payment of insurance premivtns. If the policy or policies deposited are suck e44 hame-
<br />crwnern as al} risk policies. and the deposits are insufficient trc Pat the rntue• premium. the Mortgagee may apply the deposit to
<br />- pay premiums on nsks required io He irsurrd by this marigage.
<br />Payments made by the Adurtgagor under the above paragraphs' may. at Chr option of the hfartgagee, be heirf Hy it and
<br />commingled with <Hher ,ueh funds nr it_~ „wn Cunds Cur thn p:+yment of .nosh hers, ami unto sa aPPlted, such payments are hereby
<br />pledged as security Ior the unpaid hahancr of the mortgage rode Medness
<br />To prxun°, dehvrr to, and maintain fur the h+-nefit c.( the \tnrtgaKer during the life of this mnKgege origins} policies and
<br />renewals thereof, delivv net at least ten +iays before the espirahan cE an9 such pahnies. insuring against fire and other msuraHle
<br />hazards, casualties, and cxrrstingencies as the Mortgagee may require, in an amount equal to the itrdebtednese secured by this
<br />Rortgage, and in rnmpamcs act.rpfahle sa the Marti;agee- with ius payable clause in favor of and in form acceptable to the Mortga-
<br />gee. In the event any Pe+licy is nut zotrewid .:n ur trefore ten day-s of :t+ expvatu:n, the Mortgagee may praeure insurance on the
<br />imprrx trtents, pay the premium. therefor. and <unh =a n .teal! tx•r-me crnmrdiatel~ due and payable with interest at the rate set
<br />forth in said ante unto fm+d and she}! i+r wvred by tthi~ tnnrtgagn Fadurr on the Part of the Mortgagor to furnish such renewals
<br />as are herein nymrrd ur Cailure~ta pay any sums ad•.ann.=d t:rn•under vhall, at the optirni of the Mortgagor. constitute a default
<br />antler the tormz of Phis mn_-igagr. "'n. .ms• -- •~ -•.. ,---_-_~ yl,all_ n eh.• ovont of default, tt+nshtute an asstgnmrnt of the un-
<br />earned premium.
<br />- Any sums rrz--eieet! hp the :11,3rigag~> P,g mawm of toss nr damage mcurvd against may be retained by the \lurtgagee
<br />and applies! tsstvarcl ttw Pavmrnl ,sf ti. !e t t 3 rr rti •curerl ur at tt ptinn -:f the 'Ncrtgagee, such sums r+fHrr wholly +;r m
<br />par[ mat ~' Peid over tc to++ Mort gag, r .+. br u~-c t t n•fr.~:r .uch Fans finks ~?: ~uiid' new Huildings in their place or for any
<br />- other purpose ar obit:t yatixfactury io t}±e Lf+rrtgagrv x+th,:ut alfc>t~tir+z th.= Iron on the !nortgage fur the full amount .enured here
<br />by before such pas meat ever t+Nik Place
<br />Tn prcasrpilY repair. n-st:~ro or r.•}anid an}' !?widings ~v :nnprocrments now ~~r hereafter nn the premuses which may be-
<br />come damages! yr destnrved; u+ keep said premises in t:'~j tis'ndizt,rn and rrt.atr and tree fn>rn any mechanic's lien ar aher lien or
<br />claim rd lien nut expressly suhardinated to [he hen hrr:~of, not in sutler ..r tx~rmrt an;' :en:a:+~fu! use of or ant nuisance to exist an
<br />said property War to permit waste rat said prrmrsvs, our i.'. do anti other ari whr•rehy the pn:{wrty hereby conveyed shall become
<br />less r-aiuable, nor Ia dtmtntah or imyratr its valor by anq~ art <;r =,nn.an,n to zat k> cnmPP; wish all reyuirrments of taw with respxt
<br />to the mortgaged premises and the use thereof
<br />That should the prem+srs ur an i~ pxrt xhe rc=of tw• t.akc•r+ ^v +tamagrvi by rrv.r>n .=t arr. puh'xn improvement nr condemnation
<br />proceeding, or under the right of emir+eat drxnsin, c.r :n any other manner. t}re Mortgagor shall be entitled to alt compensaUans,
<br />awards, and any other payment or relief rho rrtor, ancf ahalf l+e endtli is, at its option. to cammentt, appear in and ptrosecute in its
<br />awn name =+`ty aciiart our ptrxre><itn§- .: t„ make env c-~,mpromrse nr .ctrl?meat m nunn+•c•t+on with +uch taking ur damage. All such
<br />compettaetiwn ~atYls q~nagra, sight .w attiaW a_nd pn+ceeds are hereby assigned to the Mortgagee, who may, after deducting
<br />tireteErorn atl its expe»eex, release any marrrys fw rtxrived by it ur apply Fhe same un any indebtedness secured AerebY. T h= MaK=
<br />gagor ~~ ta-eaecrtte sucH fuKhrr aasignmeMS of any <-omtten>rauon, awards, riamagea, and rights of action and Proceeds as the
<br />Morigtlgee nosy rxquirr.
<br />The; in case d failure to per[urm any a[ the covenants herein. the Mortgagee may do nn the Mortgagor's Ixhalf everything
<br />w covenanted; drat the Mortgagee may also do any act it may deem necessary to protect the lien !hereof: that the Mortgagor will
<br />- repay upondemand any iwneya paid or disHftrsed by the MortgaAee tar any v( the above purpowra. and sutdt moneys together with
<br />interest thereon' at life rate prt+eided in said oats shall heCOme sa much additional indebtedness Hereby securrcf and may tie in-
<br />clttdwl is any decree fortrkrsing this mortgage and be paid a+ut of the rents or proceeds aE sale of said premises if not otherwise
<br />paid: that it shall pat 6e obligatory upon the Mortgagee fo enquire into the vakidity of ant lien. encumbrances, ur claim in ad-
<br />vataeing rs tq-above autlfwiaed, but nothing herein t:oatairred allot! be construed as rtxluirirfg the Mortgagee to advarr:e any
<br />rnrate)ts flu say sttch purpose liter to da ant sM hereunder, sad that lortgagee shall tint iacur any persatral liability beca+tse of any-
<br />ihiog id.nuY-da to oasis to do hereutrder.
<br />In the event of the default Hy.Mortgagor in the payrrnnt of any installment, as required by the Nwe secured hereby. or
<br />is the performance of the obligation in this trroKSagr or in the note aacured thereby, the Moetgseee shall be entitled to dec4re the
<br />debt iecttted hereby due atal pay~flc without natitx, and the Mortgagee shall be entitled at ifs optivn, without notice, either by itsrdl
<br />_- - or by i retxtver ,to be-a~+iittitetf bg the LbttK Eluiaaf, mtd without retard !o the adequacy v[ ant aecuritY.ffJr the-irdebtedness se-
<br />cund ltmahj', to eater-upon sod-take poaleesieri o7 iHe mortgtrgedPremises, arfd to collect and receive the rents, issues and pt~ih
<br />thereat, and-apply flit i4fnte, .less cosh of ope»tion and twltectian, upon tlie -irdebtednesa assured Hy [ills mortgage; said crate.
<br />its{rCt and pro6b 6eit~ lfereHy aaaiRned ca file MaKgagee ss fvKhee security far the payment ir( all iirdebtedrreaa strured-hereby.
<br />- The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repricing said pretel;~
<br />lass; raaauag the sale; caring Ehe smut. revenues srtd income, and it cloy pay out at said int»m¢ all expenttes itteurred in rertt-=__
<br />~ and trranagia6 liar ttattse aafd_o[ entiactiag the ntntals Ehereimm. Tlx 6a4nee remaining. it ant. shat[ be applied toward flail--'~
<br />diset~yegie at Ehe mpttgage iedebtedtxat. 'This asigrrment is to terminate and i+ecrane null and void upon release of this moKgsg+
<br />,..-,
<br />~~
<br />
<br />
|