HomeMy WebLinkAbout0582 . .
(a) All rents, issues, profits, revenu~s, royalties,
rights and benefits derived from tihc pre~nises •from i:ime to time
~ccruing, ~~rhether under leases or ten~ncies now ~xisting or here-
a£ter createcl, reserving to t4ortg19or, ho~vever, _so long as
Mortg~gor is no~ in default hcreunder, the right to receive and
retain the rents, issues and profits. .
(b) All judgments, aw ~rds of damages ~nd settlements
hereafter made resulting rrom condemnation proceedinc~s or the
taking of the premises or any part thereof under the poc~er of
emin~nt dor,~ain, or for any damage (whether caused b~~ such taking
or othen~ise) to the premises or t}le improvements thereon or
any part thereof ,-or to any riat~ts appurtenant thereto; includ-
inq any ar~ard for change of grade af streets. Mortgagee is
hereby aezthorized, on ~elialf and in the nar:ie of Mortgagor, to
execute and deliver ~~alid acquittances for, and to appeal from
any such judgmerits or a~aards. `-lortgagee r.iay apply all such sums
or any part thereof so received, after the payment of all of
its e~penses, including costs c'i21C~ attorneys' fees, on the in-
~ debtedness secured hereby in such manner as it elects, or at i.ts
option, the entire amount or any part thereof so received may
be release d.
TO HAVE 11ND TO ~~OLD the above granted and described prer.iises
to Aiortgayce, its succPSSOrs and assigns, forever, and Mortgagor
does hereby fully warrant the ~itle to said land and will defend
the same against the lacaful claims of all persons whoMSOever;
provided always that if r'ortgagor shall pav to Mortgagee that
certain promissory note abovc described-and shall perform all
other covenants and conditions of said promissory note, and of
any renec~al, extension or r.iodification thereof, and of this ~
mortgage, then this mortgage and the estate hereby created shall
cease and be null and void. • ~
Mortgagor further_ covenants and agrees with Mortgagee as
follows: •
1. To pay all sums including interest secured hereby
when due, as provided for in said promissory note and any renew-
al, extension or modification thereof and in this mortgage, all
such sums to be payable in lawful money of the United States of
Anierica at Mortgagee's aforesaid vrincipal office, or at such
other lace as-Mortgagee may designate in writing.
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2. To pay when due, and without requiring any notice
€rom Mortgagee, all taxes, assessments of any type or nature and
other charges levied or assessed against the premises hereby en-
cumbered and produce receipts therefor upon demand. To immediately~
pay and discharge any claim, lien or encumbrance against such
premises which r.tay be or become superior to this mortgage and
to permit no default or delinquencyo un any other lien, encumb-
rance or charge against such pxemises. To remove within fifteen
(15) days any statutory or similar mechanics or other lien
against the premises. Not to encumber further all or any part of
. the premises. •
3. If required by !Kortgagee, to also make monthly .deposits
to Mortgagee, together with and in addition to interest and prin-
cipal, of a sum equal to one-twelfth (1/12th) of the yearly taxes
and assessraents ~ahich mav be levi~d against the premises. The
~ amount of such taxes and assessraents, when unYnown, sh all be es-
timated by t~iartgagee. Such deposits may be comminaled with the
Mortgagec's separate funds and no interest therEOn ~hall accrue to
Mortgagor. Such deposits shall be used by t~lortgagee to pay such
taxes and assessments when due. Any insufficiency of such account
to pay such charges when c~ue shall be paid by T~ortRzRor to r?ort-
gagee on demand. If by reason of any default by 14ortgagor under ;
' 2 ~OK~.~J ~GE ~1~01
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