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1 <br />~~~ <br />d. For better security of the indebtedness hereb-,> secured: upon the reauesa of the mortgagee, its successors <br />ar assigns, mortgagor shall execute and deliver a supplemental mortgage or mortgages ccsvering any addixions, <br />impra.•emynts, or betternt~rtts made to She property hereittabave d~ribed artd all property a;.gt:ired by it after <br />rite date hereof {aii in form satisfacton,+ to mortgagee). Futhermore, should mortgagor fait to cure any ~ `?ulx <br />in the payment of a prior ar inferior eticumbranct on the property described oy 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 indebtedness secured by this instrument, subject to the same terms and conditions. <br />e. The rights created by this eonveyarice shall rema;n in full force asd effect during any postponement or <br />extension of the titre of the payment of the irdebtedness evidenced by said promissory note or notes, or any <br />part thereof secured hereby. <br />f. Ta continuously maintain hazard insurance, of such type ar types and in such amounts as the mortgage= <br />may from time to time require vn the improvements now or hereafter on said property, and xill pay promptly <br />when due any premiums therefor. Ali insurance suit be carried in companies acceptable to mortgagee and the <br />policies and renewals thereof shall be held by mortgagee arsd have attached thereto loss payable clauses in favor <br />of and in form acceptable to the mortgagee. In event of lass, mortgagor wilt give immediate notice in writing <br />to mortgagee, and mortgagee may make proof of ions if not trade promptly by mortgagor, and each insurance <br />company concerned is hereby authorized and directt•A to make taitm,rnt for such loss directly to mortgagee <br />instead of to mortgagor and mortgagee jointly, and the ituurance proceeds, or any part thereof, may be applied <br />by mortgagee at its option either to the reduction of the indebtedr~ss hereby xcured or to the restoration or <br />repair of the property damaged or destroyed. [n evem of faresltuurr of chic mortgage, oe other transfer of title <br />to said property in extinguishment of the indebtedness ,avrca tterelsy, aii 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 Ta keep all buildings and other improvemenu 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 foe the proper preservation thereof; and the full amount of each and every such payment 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 any lien <br />or liens inferior to the lien of this mortgage without written consent of the mortgagee; and futher, that mort- <br />gagoe wilt keep and maintain the same free from the claim of all persons supplying labor or materials for con- <br />struction of any and all buildings or improvements now being erected or to be erected on said premises. <br />i. To not rent or assign any part of the rent of said mortgaged property or demolish, or remove, or <br />substantially alter any building without the written consent of the mortgagee. <br />j. All awards of damages in connection with any condemnation for public use of or injury io 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 instaiimenis loci due undo said rote, and .artgag~ is hereby authorized, :n the na. =,f the <br />t:iar.~.ur, to exwt:te and rteiiver valid acquit+--_es Thereof and to appeal from any siirrh award. <br />k. The mortgagce shalt have the right to inspect rite mortgaged premises at any rcasanabie tuT,e. <br />1. To comply with the provisions of any lease if this Mortgage is on a leasehold. If this Mortgage is on a <br />unit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obligations <br />under the declaration ar covenants creating or governing the condominium or planned unit development,the <br />by-laws and regufatioos of the condominium or planned uric development, and constituent documents. <br />2. Default in any of rite covenants or wndi[ions of this instrument ar of the note or loan ageement 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 became the owner of al! of the rents and profits accuring after default as security for <br />ehe indebtedness secured hereby, with rite right to enter upon said property for the purpose of co-lecting such <br />rents and profits. Tnis instrument shah opeeate as an assignment of any rentals on said property to ihaE extent. <br />3. If the mortgagor defaults, and fails to make any payments when due or to conform to and comply with any of <br />the conditions or agreements contained in this mortgage or the notes which it secures, then the entire principal <br />* <br />ahd ak~tieaa int;=rr~t s'nuii at once azw doe and i>~yablw and Brats' ner Bpi (14.2 %a) interest <br />t r:ssfta» urr41 paid at the elcet;pn of the tnortgagee; and this mortgage may thereupon be foreclosed immediately <br />for the whole of the indebtedness hereby secured, including the cost of extending the abstract of title from the <br />date of this mortgage to the time of commencing such suit. *Nineteen and OneJQuarter <br />4, Lt tbe event of a forerbsute or default, ate previded herein, the mortgagee shall at once be entitled to the pos- <br />sessiaa, use, and enjoyment of the real estate aforesaid and to the rent, issues, rayalti~, and profits thereof, <br />from the accruing of such rights and during cite pend%ncy of foreclosure proceedings and such possessions, etc., <br />• shall at ante be delivered to the mortgagee upon request, upon failure such delivery of such possession may be <br />eaforctd by mortgagee, by any appropriate legal proceedings, including a receiver for the property. <br />~. TI•.e prace~ of a;.y sale of said property in accordance with the prer~ling paragraphs shall be applied tirsc to <br />pay il'~ cases and, exp"at~ses of said sale, rite ezpences incurred by the ,utrrtgagv for ih.: purpose, of p=outing or <br />tnaiatairtittg slid proper y, se~ridly, °a posy t~xe €:,dbte+;aes ~. °4d he,°''.', nd thir~~v. ~~ r'ay any surplus or <br />excess to the person or persons legally entitled thereto. <br />