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Home My WebLink About2948 ~ . . . . ~ S. Hortgagar vi21 procure, deliver to and maintain for the benefit of Mortgagee during the co~tinuance oE this mortgage and until the same is fully satisf ied aad released, a policy or policies or insurance insuri~g tae bcil3ings ana im- provec~ents noW existing or hereafter erected on t:~e said premises against loss or damage by fire, li~'.itning, windstora+, hail, explosion, riot, civll cor.zno- tion, aircraft, vehic'_es, scr.oke, and such other hazards, casu~tlties, and con- tingencies as ~!ortgagee may clesignate, including, but vithout iimitation, var ~ sisks (as, when and to the extent insurance a~ainst wnr risks is ebtainable ' from the United States of A~~ rica or any agency thereof~. All policies of in- ? ~ ~urance iequi3'~~'h~reur.der-a~a-}-~--~e-~--auch-form,--~nt~F.~tL~es,_ and amounts as ~ay : be acceptable to Mortgagce, and snall contain a mortgage clause acceptable to ; i~Iortgagee, with loss payable to Mortgabee. Mortgagor will prccptly pay vhen { dere any premiu~s on any poLicy or policies of ir.surance required hereunder, and ~ vill deliver to :ylort3agee reneWals of such policy er policies at least ten (10) i days prior to the expiracion date(s) thereof; the said policies and reneaals to ? be marked "paid" by the issuing company or agent. Upon Mortgagor's failure to i coe~ply saith the require~ents of this paragraph, Mortgagee may, in its discre- ~ tion, effect any i:?surance required hereunder and pay the Frer~iums dce there- , for, and any a~ounts so paid by Mortgagee shall becocr.e i~ediately due and pay- ~ble by Hortgagor with interest at the rate specified in the note secured ~ i hereby. ~ ; ' • Itt the event of any loss or damage, Mortgagor vill give imc~ediate notice there- ~ of to Mortgagee, and Mortgagee s.ay thereupon make proof of such loss or 3a~ra;e, ~ if the same is not promptly made by Hortgagor. All proteeds of insurance, in i the event of such loss or damage, shall be payable to Mortgagee, ane~ any affec- 3 ted insurance company is suthorized and directed to maRe pays~ent thereof di- _ _ rectly to Mortgagee. r!ortgagee is suthorized and empovered to settle, ad~ust, ~ or campromise any claims fer loss, damege, or destructi~n under any policy or ~ policies of insurance. AZ1 suc:h insurance proceeds may, at the sole discretion . of Mortgagee, be-appZied to the restoration, repair, or replacement, or re- building of the premises, or to and in reduct~n of any indebtedness secured by t6is mortgage. The delivery to Mortgagee of any policy or policies ar insur- ~ ance hereunder, or renewals thereof, shall constitute an assignsent to ;iortga- ~ gee-o#-all~-unearaed _premitxn_~__thereon as further security for the pay:eeat of the = indebtedness secured hereby. In the event of any foreclosure sction or other ~ tYansfer of title to the property covered hereby in extinguishment of the debt = Oecured hereby, all right, title, and interest of Mortgagor in and to any poli• ~ cy or policies of insurar.ce then in force shall~pass to the Purchaser or ; Grantee. ~ - • • - ~ 6. Hortgagor wilZ meintain the premises in good condition and repair and will not ~ commit or suffer any waste thereof, reasonable wear and tear excep[ed. Mortge- ; gor t~ill compiy Witn, or cause to be cor+plied with, all statutes, ordinances, ' segulations, or requirec~ents of any gover~m:ental authority relating to the pre- ~ mises, and vill prc~ptly repafr, restore, replace, or rebuild any pact of the ~ p=~a?ises now or hereafter subject to.the lien of this mortgage which cay be dsmaged or destroyed by any casualty or as the result of any proceeding herein- _ after referred to in Paragraph 8. r:one of the b:~ildings, -~tructures, or i~- ~ proveu:ents now or hereaiter erec[ed or Zocated on the above descrioed premises ~ sha12 be rer~oved, der..clished, or subst~ntially or structurally altered in any ~aspert~itho~r r~Q rior Written consent of Mortgagee. riortgagee, and any pesson a-:thorized by ,iortgagee, shall have t e rig o ; ~ the prem:~2s at all reasonable times. Mortgagor Will pay promptly when due ali 3 ~ charges for utilities or services, including but not limited to, electricity, ~ gas 8nd Water, and upon failure so to pay, Mortgagee may, et its option, ~ake ~ . sucb paytr~ent or paycrents, and any acrounts so paid by ;~ortgagee_ shall becor:e ia- ~ mediately due and payable and shall be secured b~ the Iien of this mortgage ~ vith interest at the rate specified in the note secured herehy. - 7. Mortgag~r vill not create or suffer to be cre~ted any charge, lien or enc~~T- • brance upon [he pren:ises, ar any part thereoE, exceptir.g the lien inereof, and the lien of general and speciel tar.es duly levied and assessed, witho•it the : ~ prior written conse:~t of Mortgagee, That in the event Mortgagor volun*arily • ~ . •3+ 3GJK Z~8 ~ac~~~~ g ` - = ! ~ : ~~w¢"= ' ~ . t ' ' S~. : ~ ~ _z~ _ ' s~..~ ~