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S. ?~ortgagor vill pcocure, deliver to ~nd maintain for the benefit of Mortgagee •
durirg thc continuaace of this mott~,a~e and uatil tlic sar.•e is fully satisficd
and released, a po2lcy or policies ot insurance insuria1 tnc beil~~n~s ana im-
proverents now exisCir.r or hercaf ter crected oa t`~e said premises against loss
or darr.sse by fire, li.r,atnin~, c,indstom, hsil, explosion, riot, aivil coc^.c:o-
tion, aircraft~ vehic:es, s.:.oke, and such oth.er hazsrds, casualties, and con-
tingencies as :!ort~a;ee ~ay designa:e. including, but vithout iitriCation, War
tisks (as, when and to the e:ctent insurance a;sinst var risks is obtaina~le
trom the United States of Ar-erica or any ag~ncy ttiereof all policies of in-
surance requized hereucder shall be in such for:a, co~:par.ies, and ar~ouncs as c~ay
be acceptable to Morc~agee, and shall contain a~ortpage clause acceptable to
l~iortgagee, vith loss payable to Mortgsoee. :tortQagor Will prcr.ptly pa} ~:tien
due any preniu~s on any pc:icy or policies of ir.s::rance re+ruired hereLr.der, and
vill detiver to :~!ort;a:ee reneWals of such policy ~r policies at l~ast.ten (10)
days prior to the expiracion date(s) thereof; L!~e said rolicies and renevals [o
ba marked "paid" b}~ the issui~g corspany or agent. Cpon ?`tortgagor's failure to
eomply ~rith the require~ents of th:s paragraph, ~ort~agee c~ay, in its discre-
tion, effect any insurance required hereunder and pay the Frer.sieuns dLe there-
for, and any ac^ounts so gaid by *tortgagee shail baeoc~e icr..ediately due and pay•
able by Mortgagoz ~i[h interest at the ra~e specified in the aote secured
hereby.
' • Itn the event of any loss or da~age, Morigagor Will give ic~ediate notice there-
of to Mortgagee, and ;;ortgagee ~ay thereupon ~:ake ~roof of such loss or 3a~ra~e,
if the sE~ze is not pro~ptly radz by :~ort3agor. All proceeds of insurar~ee, in ;
. the event of s•sch loss or damage, sha21 be payable tfl ::ort~agee, and anv affec-
ted insurance co~any is acthorized and airected to rake pavr,.ent thereof di-
, recLly to ;tortgagee. t!ortgagee is authorized and er,:powered to settle, adjust,
~ or compromise any claias fer Zoss, damage, or desCruction un~er acty po2icy or '
policieS of insurance. e11I suc:'~ insurance proceeds ~ay, at ttie sole discretion
• of Mortgagee, b~ applied to the restoration, repair, or replacerent, or re-
building of the prersises, or to and in reductf.on of any ir.debtedness secur~d ~y ,
thie mortgage. T:~e delivery to Mortgagee of any policy or policiPs i;~sur-
ance hereunder, or renewals thereof, shall con~[itute an assi~nc^ent to ;!ortga- ;
gee of all unearned prer~iu.-ns thereor. as further security for the payT~~t of ti»
indebtedness secured hereby, In the event of any foreclosure action o: other
traas£er of title to the property covered hereby in extin~uishr..en~ of ~he debt '
aecur~d hereby, all right, title, and interes[ o£ ~tortgagor in and to any poli-
ey or policies of insurar.ce then in force shall~pass to the Furcaaser or ~
Grantee. ~ • , ;
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6. Hortgagor wi1Z m~intain the premises in good condition and repair and will not
co~mit or suffer anv waste thereof, reasonable Wear and tear excepted, Mort~B -
gor ~aill compiy vitn, or cause to be coc^plied viCh, all statutes, or~inances, -
regulations, or requirer..ents of any govern~:ental authoritti• relating to the Qre-
IDises, and will prcn:p*_ly repair, restore, replace, or rebuild ~ny pact o~ the
p=emises now or hereafter s~:bject ta,the l;en of this mortgage wiiich r:ay be
damaged or destroyed by any casualty or as the resu2t of any proceeding nerein-
after referred to in Para~raph 8. ::one of the bsildings, :~tructures, or ir-
proveu:ents no•a or hereaiter erected ar located on the abovP descrided premisPs
shall be re^~ored, derolisned, or substantially or structural~y altered in an~r
respect Without t:~e prior cnitten consent vf :4ortgaaee, riortga~ee, and any
person r•:thorized by ,?ort~agee, snall have the right to znter upon er.d inspsct
the pren:~2s at all rcasonable ti~res. ~tortga~or Will pay pror..pCly when due ali
~ eharges for utilities or ser?ices, including but not Z1Al1tP.fj to, electricity,
gas and water, and upon failure so to pay, Mort~agee may, at its option, make
. ~euch pay~rent or pa:r.~encs, and anv amounts so paid b~r ::orttra~ee shall becor.-e i:~~ ~
toediately due and paya~le and shall be secured b;, thc lien of this r.^ortgage
taith interes[ at the rste specified in the note secured h^reby.
7. Mortgagor vill not c:eate or suffer to be cre~ted sny chr~r~e, lien or enct~cr.-
brance up~n t~e ~rer.:ises, or ar.y psrt thereoE, exceptir.o tt;e lien nereof, and
the lien of ger.eral a~d speci8l t~::es duly levied and assessed, -aitho~it the
prior vrir_ten conseat oE r:ortgagee. That in the eveiit ;•tortgagor volun:arily -
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