<br />
<br />d. For better security of the indebtedness hereby secured, upon the request of the mortgage, it, successors
<br />ar assigns, mortgagor shad execute and deliver a supplemental mortgage or mortgages covering env additions,
<br />improvements, or betterments made to the property hereinabove described and all property acquires.:~ ~ it after ""~
<br />the date hereof (all in form satisfactory to mortgagee). Futhermore, should mortgagor fail to cure any default fi
<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 eo cure such default, but mortgagee is net obligated to do so; and such advances
<br />shall become part of the indebtedness secured by this instrument, subjec*. *.o the same terms and conditions.
<br />e. The rights created by this conveyance shall remain in full force and effect during any postponement ar
<br />extmssan of the time of the payment of the indebtedness evidenced by said peomissory 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 amounu 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. AU insurance shall bt carried in companies acceptable to mortgagee and the
<br />policies and renewals thereof shall be held icy mortgagee and have attached thereto loss payable .louses in favor
<br />of and in form acceptable to the mortgagee. In event of loss, mortgagor will give immediate notice in writing
<br />to mortgagee, 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 part thereof, may be applied
<br />by mortgage at its option either to the reduction of the indebtedness hereby secured or to ehe restoration or
<br />repair of the property damaged or destroyed. In 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 evem
<br />of failure of the mortgagor to keep the buildings on said premises and those erected on said premises, or
<br />improvemems 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 payment shall be
<br />immediately due and payable; and shalt be secured by the lein of this mortgage.
<br />h. To not voluntarily create or permit fo 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 father, that mort-
<br />gagor will 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 />subswntialiy alter any building without the written consent of the mortgagee.
<br />j. Atl awards of damages in connection with any condemnation far 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 />I~yment of th? inst211.:.ents last due under t;id note. and mortgagee is hereby authorized, in the name of the
<br />mortgagor; to exec rt_te and deliver valid am„„sat; thereof and to appeal from an_. °.:ch ward,
<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 lease if this Mortgage is on a leasehold. If this Mortgage is on a
<br />uttit in a condominium or a planned unit development, Borrower shall perform all of Borrower's obhgations
<br />under the declaration or covenants creating or governing the condominium or planned unit devefopment,the
<br />by-laws and regulations of the condominium or planned unit development, and constituent documents.
<br />2. Lkfault in any of the covenants or conditions of this instrument or of the note or loan ageemeni 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 she 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 accuring after default as security far
<br />the itulebtedness secured hereby, with the right to enter upon said property for the purpose of collating 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 to conform [o and comply with any of
<br />the conditions or agreements containtd in this mortgage or the notes which it secures, then the entire principal
<br />sum and atx5tted intera-t shall at once be<.ome due and payable, and draw + per cent (yg,~e/s) interest
<br />thereafter until paid at the election of the mortgagee; and this mortgage may thereupon be foralosed immediately
<br />far the whole of the indebtedness hereby secured, inctuding the cost of extending the abstract of title from the
<br />date of this mortgage to the time of commencing such suit. •53xteen
<br />4. In the anent of a foralosure or default as provided herein, the mortgagee shall at once be entitled to the pos-
<br />session, use, attd enjoyment of the real estate aforesaid and to the rent, issues, royalties, and profits thereof,
<br />from the accruing of such rights and during the pendency of foralosure proceedings and such possessions, etc.,
<br />shtdl at puce be delivered to the mortgagee upon request, upon failure such delivery of such possession may be
<br />enforced 6y mortgagee, by any appropriate legal proceedings, including a receiver for the property.
<br />5. The proceeds of any sale of said property in accordance with the preceding paragraphs shall ere applied first to
<br />pay the cost; and expenses of said salt, the expends incurred by the mortgagee far the ourpusr of prate4tin~ or
<br />maintaining said property, secondly, to pay the indebtedness secuted hereby; and thirdly, iu pay any surl,lu~ or
<br />excess ea the person or persons legally entitled thereto.
<br />
|