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<br />~1-- t~~36'72
<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 />improvements, or betterments made to the property hereinabove described and all property acquired by it after
<br />the date hereof (all in form satisfactory to mortgagee). Futhermore, 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 />by agrees to permit mortgagee to cure such default, but mortgagee is not obligated to do so; and such advances
<br />shall become part of the indebtedtt~ss secured by this instrument, subject to the same terms and conditions.
<br />e, The rights created by this conveyance shall remain in full force and effect during any postponement or
<br />extension of the time of the payment of the indebtedness evidenced by said promissory note or notes, or any
<br />part thereof secured hereby.
<br />f. To continuously maintain hazard insurance, of such type or types and in such amounts as the mortgagee
<br />may from time to time require on 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 and renewals thereof shall be held by mortgagee and have attached thereto loss payable clauses in favor
<br />of and in form acceptable to [he mortgagee. in event of less, mortgagor will give immediate notice in writing
<br />Yo mortgagce, and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurance
<br />company concerned is hereby authorized and• directed to make payment for such loss directly to mortgagee
<br />instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any pazt thereof, may be applied
<br />by IIIOrtgagee Qt ItJ UFiUUl1 Ctt11Gr tV t11e rNtlctlVtl UI t11C Illllebtedness lICrCVy JCI:tlICd nl tV tIIC ICJLOI stroll VI
<br />repair of the praperty damaged or destroyed. !n event of foreclosure of this mortgage, or other transfer of title
<br />to said property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the
<br />mortgagor in and to any insurance policies then in force shall pass to the purchaser or mortgagee or, at the
<br />option of the mortgagee, may be surrendered for a refund.
<br />g. To keep all buildings and other improvements on said property in good repair and condition; to
<br />permit, commit, or suffer no waste, impairment, deterioration of said property or any part thereof; in the event
<br />of failure of the mortgagor to keep the buildings on said premises and those erected on said premises, or
<br />improvements thereon, in good repair, the mortgagee may make such repairs as in its discretion it may deem
<br />necessary for the proper preservation thereof; and the full amount of each and every such paymene shall be
<br />immediately due and payable; and shall be secured by the Lein of this mortgage.
<br />h. To not voluntarily create or permit to be created against the property subject to this mortgage ary lien
<br />or liens inferior to the lien of this mortgage without written consent of [he mortgagee; and father, that mort-
<br />gagor will keep and maintain the same free from the claim of all persons supplying labor or materials for c_.
<br />struction of any and ail ~aildings or improvements now being erected or to be erected on said premises.
<br />i. To net rent or assign any part of the rent of said mortgaged property or demolish, or remove, or
<br />suostantially alter any building without the written consent of the mortgagee.
<br />j. All awards of damages in connection with any condtmnation for public use of or injury to any of the
<br />property subject to this mortgage are hereby assigned and shall be paid to mortgagee, who may apply the same to
<br />payment of the installments last. due under said note, and mortgagee is hereby authorized, in the name of the
<br />mortgagor, to execute and deliver valid acquittances thereof and to appeal from any such award.
<br />k. The mortgagee shall have the right to inspect the mortgaged premises at any reasonable time.
<br />1. To comply with the provisions of any [ease if this 4iortgage is on a leasehold. If this Mortgage is on a
<br />unit in a condominium or a planned unit development, Borrower shall perform aU of Borrower's obligations
<br />under the declaration or covenants creating or governing the condominium or planned unit development,the
<br />by-laws and regulations of the condominium or planned unit development, and constituent documents.
<br />2. Default in any of the covenants or conditions of this instrument or of the note or loan agcement secured hereby
<br />shall terminate the mortgagor's right to possession, use, and enjoyment of the property, at the option of the
<br />mortgagee or assigns (it being agreed that the mortgagor shall have such right until default). Upon any such
<br />default, the mortgagee shall become the owner of all of the rents and profits securing after default as security for
<br />the indebtedness secured hereby, with the right to enter upon said property for the purpose of collecting, such
<br />rents and profits. This instrument shall operate as an assignment of any rentals on said. property to that extent.
<br />3. If the mortgagor defaults, and fails to make any payments when due or [o conform to and com}Sly with any of
<br />the eonditioas or agtcements contained in this mortgage or the notes which i~secta~res, then the entire principal
<br />sttm and accrual inettest shalt at once become due and payable, and draw n ~er ceot (2~_eJo} interest
<br />thereafter until paid at the election of the mortgagee; and this mort¢age may thereupon be foreclosed immediately
<br />for the whole of the indebtedness hereby secured, including the cost of extending the abstract of title Crom the
<br />date of this mortgage to the time of commeneirg such suit.
<br />4, In the evptt of a foreclastue or default as providal herein; the mortgagce shall at once be entitled to the pos-
<br />session, use, and enjoyment of tbe real estate aforesaid and to the rent, issue, loyalties, and profits thereof,
<br />from tht accruing of such rights and during the pendency of foreclosure pra-cedings and such possessions, etc.,
<br />shall ac once be delivered to the mortgagee upon request, upon failure such delivery of•such possession may be
<br />ettforrcd by mortgagee, by any appropriate legal groccedings, igcludittg a receiver far the property.
<br />5. The proceeds of any safe of said property in accordanc-t with the preceding paragraphs shall be applied first to
<br />try the costs and expenses of said sale, the expcnrzs incurred by the mortgagee fnr the purpose of protecting nr
<br />maititainir~, said property, secondly, to pay the ituiebtedness secured herel:y; and thirdly, to lvty any surplu+ ar
<br />excess to the person ur persona legally entitled thereto.
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