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81--00282 ., ..,.
<br />THE MORTGAGOR FUR'CHER COVENANTf3 ANt1 Af;RL~B:
<br />That the-Mortgator will pay-the inttetitedrress as hereinbe[ore provided:
<br />That the Mortgagor is the "Owner of said property in tee simple and has good right and lawful authority to sell and - _ '
<br />convey the same,:at}d'thet the,~rtme is free and dear'oYany lien or_encumbrancc; and~that M11`ortgagor wit! warrant and=defied thZ' ~ -
<br />title to said .Premises agaittsY-tkie claims of all -fretaoru-. wliameecven - - -
<br />To pap-immediately'when die and payable all general taxes. speciat'taxea,_special assessments, water charges; sewer'serv ~--.
<br />ice charges, and other loxes and charges against said Rroperty;.and all-taxes levied on fhe debt secued hereby, am! to furnish the
<br />Mortgagee, upon mquest,:with the origins! nr duplicate receipts therefor. The Mortgagor agrees-thaE~t}iere`stlall -be°added*m' -~
<br />each monthly payment required hereunder or under the evidence-of debt secured hereby an amount-estimated-by the Mortgagee
<br />to be sufficient to enable the IulDrtgsRee to Pay, as they become due; all-taxes; assessments, and-similar-charges•ttpon theprem~
<br />tees sutijecf thereto;-arty deficiency because afthe insufficiency of such-additional-payrrie»ts shalt-be- forthwith-deprosnted-"try'the ~-
<br />Mortgagor with the Mortgagee upoq demand hq the Mortgagee. Any, default under this paragraph -shall be deetrl4d a detain! in
<br />payment of taxes; asereaments: nr similar charges required- hereunder. ,_
<br />The Mortgagor agrees that there shall also be added to each monthly payment of principal-and interest required-here-
<br />undee an amount estimated by the Mortgagee to be sufficient to enable Lhe Mortgagee to pay, as it becomes due, the insurance
<br />premium on any insurance policy delivered to the Mortgagee- Any deficiency because of the insufficiency of such additional Pay-
<br />ments shall beforthwith-deposited by the-Mortgagor with the Mortgagee upon demand by the Mortgagee. Anydefairlt'undei• this
<br />parag.aph shall be deemed a default in the Payment of insurance premiums. If the policy or policies deposited are such as hvme•~
<br />owners or all risk policies, and the deposits are insutficient to pay the entire premium, the Mortgagee may apply the deposit to
<br />pay premiums on risks required to be inau red by this mort~a~e.-
<br />Payments made by the Mortgagor under thw above paragraphs may. at the option of the Mortgagee, be held~by iC and
<br />commingled with other such funds nr its own funds (nr the-payment of such it.-ms, and until so applied, such payments see hereby
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
<br />To procure, deliver to, and maintain for the ]wnefit of the Mortgagee during the life of this mortgage original {wlicies and
<br />renewals thereof, delivered at least ten clays before the ezt>iration of any such Ixrlicies, insuring against (ire and other insu cable
<br />haratds, casualties, and contingencies as the Mortgagee may require, in an amaunt equal to the indebtedness secured by this
<br />Mortgage, and in companies acceptable to the blortgager, with Sos_s payabkr ctause in favor of and in Corm acceptable to the, Mortga-
<br />qee- In the event any policy is sot renewed on or Ix'fore ten days of iv expfrauon. the 3ortgagee may procure insurance on the
<br />improvements. pay the premium therefor. and such sum shall Ctecnme immediately due and payable with interest at the rate set
<br />forth in said note until paid and ,hall hr secured f»~ Lhrs mortgage. Failure cn the part of the Mortgagor to Cornish such renewals
<br />as are herein required or failure to pay any =vine advanced hereunder shalt, at the option of the Mortgagee, constifute a default
<br />under the terms of this mortgage. The delicrr-; of such policies .hail, ir, the event of riefauli, constitute an assignment of the un-
<br />earned premium-
<br />Any sums received by the Mortgagee by reason ~•f loss or damage insured against may be retained by the Mortgagee
<br />and applied toward the payment of the debt hereby ..=.rcurrd, or. at the option of the 'vtnrtgagee, such sums either wholly or in
<br />part may be Paid over to the Mortgagor to be used to repair such buildings or to build new buildings in their place or fnr any
<br />other purpose ur object satisfactory to the ~1urtKagee without affecting the lien on the mortgage for the full amount srcu red here-
<br />by before such payment ever trwk Lrlacr.
<br />Tu promptly repair, restore- ur rebuild an}' buildings err tint+rnvement nr.-,w or hereafter on the premises which may be-
<br />come damaged or destroyed: to keep said pr raises in gncxl rondition and repair and free Gom anc mechanic's lien nr other lien c;r
<br />claim of lien not expressly sulwrdinatcd to the lien hereof; nut to ;utter ~:r Prrmi! any unlawful use of ru any nuisance to exist nn
<br />said property nor to Prrmi[ w•xste on said premises, our tp do any ether ncE witrrrby the property hereby conveyer: shall ' .;Dine
<br />(rtes valuable, nor to diminish or impair its valor by any act nr <.micsiun to ar-t; h. comply with all requirements of law with respect
<br />to the mortgaged premises and the use thereuC. , , _ _ -. `~ - -- '
<br />That should the premises_or any part thrmut !x' taken ur ,tamaKcni f.y reason of env f+ublic improvement or c'undemnation
<br />proceeding, or under the right of eminent domain. or in any other manner, the StortgaKr+' shall hr cmtitled to all rnmprnsattons.
<br />awards and any other payment ur retie( therefor, soil vhail F.e entitled. at its opUOn, to commence. appear in and proc+ecute in its
<br />own name any action or procvteding, or to make any compramtse nr •-rttlement m rvinnectiun with such taking or damage. Att such
<br />compensation, awards, damages, right of action and prey-•eecie are hereby asstgnrd to the Mortgagee, who may. after deducting
<br />therefrom all its expenses, release any moneys sit rrceivecf by :t .=r apply the serve un any indebtedness secured hereby. The Mort-
<br />gagor agrees-ta eaecute such further assignments of any e<antrensau~n. awards, damages, and rights of action and proc:_etls as the
<br />Mortnagee maY require.
<br />That in case of failure to perk.rm any n[ the covenants barer r.- the Mortgagee may do on Fhe Mortgago:'S behalf everything
<br />so covenanted: that the Mortgagee may also do any act it may deem ttecrssary to protect the lien thereof:- that the Mortgagor wit!
<br />repay upon-demand any moneys paid or disbursed try ttre Merigagre for any of the above purposes. and such moneys together with
<br />interest thereon at the rate Rrovided in said note shall become so much additional indebtedness hereby secured and may be in-
<br />cluded it. any decree foreclosing this nwrtgage and be paid out of the rents or prex:eeds of sale of said {>remisesif not otherwise
<br />paid; that it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien, encumbranrxs- or claim in ad-
<br />vancing moaeya.as above-auttrorized, tort nothing herein contained shall be construed as requiring: the Mortgagee to advance any
<br />rtaoueye for-any such purpose nor to do anY act Mraunder; and that Mortgagee shalt not incur any personal liability because of any-
<br />t it may do or-omit-to do~.ltereunder-
<br />Itr ttte event of the default- by Mortgagor in the payment of say installment, as required by the Note -secured hereby. or
<br />in the performance of the obligation in this ntartgage or in the note -secured thereby, the Mortgagee shall be entitled to declare the
<br />debt aeaiced nt ray due. and pay~le without notice, and,the Mortgagee shalt be entitled at its option, without nWice, either by ifseli
<br />or ?3yt a, rarreiver to-be ap{winted by the court thereof, and without regard. to the adequacy of any security tot the-indebtedness se-
<br />cured hereby, to. enter upon and -take possession of the mortgaged premises. and to collect and receive the: rents.-issues and profits
<br />thereof: asrd_apply the aatrte, .lpsa costs of opprat:ron and co{{ectio n, upon the indetstecfness secured by this mortgage; said rents,
<br />irt>trs and profits being hereby assigned to the Mortgagee as further ecxtrciiy far khe payment-of all indebtedness secured hereby.
<br />Tiu Mortgagee shall have the power to appoint any agent or agents it tray desire for the purpose of repairing :arid prem-
<br />isea; reayt+g. the sgm¢; txt(IQCtiru t~ rents, revenues.and resume. and it rnaY PaY out of said income all expenses incurred in rent-
<br />]ng and martaging the same and of collecting the rentals tltrrefrom: The balance remaining, if any, shall br• applied toward the
<br />diachar{++ of. the mortgage intiAptrdtsesa. This ,assignment is Io trrminsta a,-,d trecume nut' and void upon renassr of this mortgage.
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