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r~, lh'r'~car ll~n't,rur ~y;iur~~t, III' ud' ,ah~ai limlw3eNtt~~h~nu~~t berrHt ~ i~iea.~rcurir.:d„ u~~ ~ ~ ~'~.~ {~ ~.
<br />M y pon for srrpueh4 o t,ie mortgagee, i s successors
<br />oe ~~, ~It~'tga&m' t~hi~isfi' esr~ciutat attal de~ti+u~erc a snwppV~emaerttat itnortgage or mortgages rovtring any additions,
<br />iritprovemerits, or betterments rn8de to the property ttereinabove described and alt property acquired by it after
<br />the date hereof (alt in form satisfactory to mortgagee). Futhermore, should mortgagor fail to cure any default
<br />in the payment of a prior or inferior encumbranix 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 became par' ` 'he indebtedness 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 postpc:.ement or
<br />extension of the time of the payment of the indebtedness evidenced by said promissory note or notes, or any
<br />par 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 the mortgagee. [n event of loss, mortgagor will give immediate notice in wri[ing
<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 mortgagee at its option either to the reduction of the indebtedness hereby secured or to the 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 even!
<br />of failure of the: mortgagor to keep the buildings on said premises and those erac'ted ore said prztais€s, or
<br />improvements thereon, in good repair, the mortgagee may make such repairs as in its dixretion it may deem
<br />necessary for the proper preservation thereof; and the full amount of each and every such payment shall tic
<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 />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 bt erected on said premises,
<br />i. To not rent or assign any part of the rent of said mortgaged property or demolish, or remove, ur
<br />substantially alter any building without the written consent of the mortgagee.
<br />j. All awards of damages in connection with any condtmnatiun for public use of ur injury to any of the:
<br />property subject to this mortgage are hereby assigned and shalt 6e paid to mongagee, who may apply the same tst
<br />payment of the installments last due under said note, and mortgitgec is hereby authurucd, in the ttame of the
<br />mortgagor, to execute and deliver valid acquittances thereof and to appeal from any wch award.
<br />k. The mortgagee shall have the right to irisfaect the mortgaged prc~tisca 3t any ~sbk tint.
<br />I, To comply with the provisions of any lease if this tvlorgage is but a leaaeltold. if ttt~ t-4ort iY m2 a
<br />unit in a condominium or a planned unit development, t3orruwtr shaft perform all of ikirrowcr's obligations
<br />under the declaration or covenants creating or governing the condominium or plaritttsil uttit dtvelttpttitnt,tht
<br />by-laws and regulations of the condominium or planned unit development, and constituent documrnu.
<br />2. Default in any of the covenants or conditions of this instrument or of the note or town agtetnent sccurtd htrrby
<br />shall terminate the mortgagor's right to possession, use, and enjoyment of the property, $t the option uC the
<br />mortgagce or assigns (it being agreed that the mortgagor shall have such right until default). llputt arty such
<br />default, the mortgagee shall become the owner of alt of the rents and profits ac'curing after default as stiurity fur
<br />the indebtedness secured hereby, with the right to enter upon slid property fur 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 ro make any payments when due or to ~onfonn to and comply with arty of
<br />the conditions or agreements contained in this mortgage or the notes which ~ise~C~r~~then tht enure principal
<br />sum and accrued interest shall at once become due and payable, and draw ,~ B per Bent (19...~..°rt) interest
<br />thereafter until paid at the election of the mortgagee; and this mortgage may thereupon be Corcclostd immediately
<br />fee the whole of the indebtedness hereby secured, including the cast of extending the abstract of title froth the
<br />date of this mortgage to the time of commencing such suit.
<br />4, In the event of a foreclosure or default as provided herein, the mortgagee shall at once be entitled to the pos-
<br />session, use, and enjoyment of the real eseatc aforesaid and to the rent, issues, royalties, and profits thereof,
<br />from-the accruing of such rights and during the pendency of foreclosure proceedings and such possessions, etc.,
<br />shat) at once be delivered to the mortgagee upon request, upon failure such delivery of such possession may be
<br />enforced by tnorgagce, 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 be applied first to
<br />pay the costs and expenses of said sale, the expences incurred by the mortgagee for the purpose of protecting or
<br />maintaining said property, secondly, to pay the indebtedness set;ured hereby; and thirdly, to pay any surplus or
<br />excess io the ttersoa or persons legally entitled tlrereto.
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