|
8i--1,'v~39~~1
<br />d.'For better security of the indebtedness hereby secured, upon the request of the mortgagee, its successors
<br />or assigns, mortgagor shall execute and deliver a supplemental mortgage or mortgages covering any additions,
<br />improvetnetrts, or bettermrnts made to the property hercinabove described and all property acquired by it after
<br />the date hereof (cell in form satisfactory to mongagce). Futhermore, should mortgagor fail to cure any defau)t
<br />in the paynurtt of a prior or inferior encumbrance on the property described by this instrumem, mortgagor hero-
<br />by agrees to permit mortgagee [o cure such default, but mortgagee is not obligated to do so; and such advances
<br />shat) become part of the ittdebtedtxss secured by this instrument, subject to the same terms and conditions.
<br />e. The tights created by this rnnveyance shay) remain in fui! force and effect during any postponement or
<br />ectes>sion of the tithe of the payment of the indebtedness evidenced by said promissory note or notes,. or any.
<br />part thereofseeured hereby.
<br />f. To continuously ttraintsin hazard ittsurattce, of such type or types and in such amrwats as the tntxtgagee
<br />may from time to tithe require on the improvements now or hereafter on said property, attd will pay promptly
<br />when due any premiums therefor. At) insurance shall be tarried in compat»cs acceptable to tttortgagee and the
<br />policies and rtttewals thereof shall be hdd by mortgagee and have attached thereto toss payable clauses in favor
<br />of and in form atxcptabk to the mortgagee. in event of loss, mortgagor will give immediate notice in writing
<br />to tttortgaget, and mortgagee may make proof of loss if not made promptly by mortgagor, attd each irsurance
<br />company concerned is hereby authorized and directed to make payrnrnt for such loss direct)y to mortgagee
<br />instead of to mortgagor and mongagre jointly, and the insurance protxeds, or any part thereof, may be appfied
<br />by mortgagee at its option tither to the reduction of the indebtedness hereby secured or to the restoration or
<br />repair of the property damaged or destroyed. !n evrnt of foreclosure of this mortgage, or other transfer of title
<br />to said property in excinguishmrnt of the indebtedness secured hereby, ail right, title, and interest of the
<br />mortgagor in and to any insurance po)icies then io force shat) pass to the purchaser or mortgagee or, at the
<br />option of the mortgagee, they be surrendered for a refund.
<br />g. To keep ail buildings and other improvements on said property in good repair and c.onditian; to
<br />pertttit, commit, or suffer no waste, impairment, deterioration of said property or any putt thereof; in the went
<br />of failure of the mortgagor to keep the buildings an said premises and those erected on said prtnnises, or
<br />improvements thueon, in good repair, the mortgagee may make such repairs as in its discretion it may drew
<br />necessary for the proper preservation thereof; and the full amount of tech and every such payment shall be
<br />immediately due and payable: acrd shall be secured by the Orin of this mortgage.
<br />h. To not cnlumarity create or hermit to hr created against the property subject to this mortgage any lien
<br />or urns inferior to chr 9ien of this mortgage without uriuen consent of the mortgagee; and futher, that mo~;-
<br />gagor will keep and maintain the same [tee from the claim of all persons supplying labor or materials for con-
<br />struction of any and at[ buildings or tmprovemrnts now being erected ar to br erected on said premises.
<br />i. 7'o hoe erne ar assign any pan of the erne of ,a mortgaged property or demolish, or remove, or
<br />substantially alter any building without the written consent of the mortgagee.
<br />j. A11 awards of damages in connmion with any condemnation for public use of or injury to any of the
<br />property subject to this mortgage err hereby assigned and shall be paid to mortgagee, teha they apply the same to
<br />payment of the itsstallmenu last dur urtdtt said note, and mortgagee is hereby authorized, in the name of the
<br />mortgagor. Fa esecutc and deliver valid acquittances [hereof attd to appeal from any such award.
<br />k. The mortgagee shall have the right to inspect the mortgaged premises at any reasonable titre.
<br />4. To oompty with the previsions of any lease if this Mortgage is or a leasehold. If this Mortgage is on a
<br />unit in a condominium or a pianrtrd unit deveiopmrnt, Borrower shalt perform ail of BorrowePs obligations
<br />uttdcr the tktlaration or,covenanu creating ar governing the condominium or planned unit developtttent,the
<br />by-)aws and regulations of the cottdominitun or ptatmed urtit drve)apment, and constittteat docurtunts.
<br />2. Default in any of the covenants or conditions of this itutrutttrnt or of the Wort or loam ageement secured hereby
<br />ahsll termir~m the mortgagor's right to possession, use, and en)oyttum of the property, at the option of the
<br />mortgagee or assigns (it bring agreed that the mortgagor shall have such right until default). Upon. any such
<br />default, chr tttortgagee shall bc+come chr owner of all of the rents and proitcs asxuring after default as security for
<br />chr ittdeMtxlrtess secured hereby, with chr right to enter upon said property Cor the purpose of colkcdng such
<br />rents and profns. This ietstruatertt shall operate as an assignment of any reota)s on said properey to that extent.
<br />3. if she mortgagor defaults, a~ fails to tnakz any paymrnes when dur or to conform to and comply with any o€
<br />the cattditions or agrceateots contained in ehis mortgage or the notes which it secures, then the entire principal
<br />sum and accrued ingest shall at oacx become due and payable, and draw t a.5 per cent t~_ek) interest
<br />thereaftp ttnul paid at the ekrtion of the mortgagee, and this mortgage may thetntpon be foreclosed itrtmtxliatrly
<br />for the whole of the indebtedness hereby secvtrod, ittcludittg the cost of extruding the abstra~K of title from the
<br />dot of this mortgage to the tithe of eommeoeing such suit.
<br />1. la tht wean of a fotreloatre a default as provided herein, chr mortgagee shall at ante be entitled to the pvs-
<br />sea+tian. uae, attd sttjayrrlettt of the real estate aforesaid and to the erne, issues, royalties, and pro€its thtrmf,
<br />(teas the arcruiag of such rights and during the pendency of Ctueciosure procYrrlings and such possessions, etc.,
<br />(hall tit ottee be ddivsnxl to the atee upon regttctt, upon failure stint de3ivery of such possessiun may tx
<br />enfartaed b)• tit; by any a~pgroptitte ~ peotxedings, inelttditg a reeelvir far the prtMverty.
<br />~. "flea ~ of any sale of said pragerty in aceartlarcc with the preceding paragraphs sha)I be applied first to
<br />paty the stx~ and ~ of said , chr r;tpet~es ittcyrrrt+tl by the ttxrstgafter for chr purpose of protr.-ting or
<br />)arstty, redly, to pay the it[ddatsstrtr^ts rerstred hereby, and third)r-, an try any surplus ,rr
<br />~ to the pttt,ctat tar r+erswts ktptliy cutitlaxi thttrctu:
<br />
|