Loading...
HomeMy WebLinkAbout1554 , ' i ;l ~ ~ , . ~ ~ ~ . • 1. The awrtaaaor aovenanta aad aacees a~ tollowa: s. He ~viU prompd~ pay the indebtcdness evideaced br ~aid prnmi~wrp note at t6e time~ and in the ~ manner thenin provided b. 8e will p~~ all ta~ca, aMe~smant~, ~ratnt ntes, and other aoverameatal or manicipal char~, Snes, or impoaitions, for ~vhich provisioa ha~ not been made hereinbefore, and will prompdy deliver the offi'icial reoeipts thercfor to the said mort~a6ee. c. He will pay such expenaea and fees ae may be incurred ia the protection and maintenance of said property, including the feea of any attorney employed by the mortgagee for the collection of sa~* or all of the indebted~e~ hereby eecured, or for forecloanre by mortgagee'e eale, or court proccediags, or in anp other litigation or proceeding at3eetinR 8aid premiaee. Attorneya' [ee8 reasonablp incurred in any other way ehall be paid b~ the mortgagor. ' d. For better aecurity of the indebtedneae hereby aecured, upon the request oi the "mortgagee, ita auc- ceaEOrs or asaigna, he ahall execute and deliver a aupplemental mortgage or mortgagea coverinR any additione, improvementa, or bettermenta made to the property hereinabove dexribed aud a~l property acquired bj it a[ter the date hereol (all in form satisfactory to mortgagee). FuKhermore, ahould mortgagor fail to cure any default in the pay-ment of a prior or inferior encumbrance on the property described by this instrument, ; mortga~or hereb~ aRreea to permit mort~aRee to cure auch Jefault, but mortga~ee ia not obliRated to do so; ~ and such advances ahail become part of the indebtedness secured by this inatrument, subject to the same % terma and conditions. ~ The ri~hta created b~ this conveyance Rhull remain iq fuil force and eliect during any postponement = or extenaion of the time of payment o[ the indebtedneaaBVi~lenced by said promiseon~ note or any part thereof ? secoreel hereb~•. J. He will continuousl}• maintain hazard insurance, of euch t~pe or t~pea and in euch amounts as the mort~aKee ma~• (rom time to time require on the improvements now or hereaiter on said property, and will pay promptly when due an}? premiwns therefor. All insuranoe shall be carried in oompaniea aooeptable to mort~agee and the ~olicies and renewala thereof ahall be held by mortgagee and have attached thereto ~ loes piya~te claneea in favoi o~ and ~in~ [orm aoceptible to the mort6a~CCe. Iit eveat of loee, mortaa6or ~?ill ~ive `immediate notioe irn'~tina~to mort~a~ee, and.mort~a~ee, ma7 ~m~e pro~f o~ loes if not m~de promPV7 b7 ; , , r mort~a~or, aqi~ eac~i,~ae ~ur~noe companp oonceined ia here~Ji ~an~6ori~ed and directe~ to m~ce paya?ent for anch ' y' loei d~ ~~t to mo~a~ee~i;tateid of tio mort~agor~ui~ mortgaaee jointly, and the insnrsnce pi~ooeeds, or any '~pait tbereof;• ma~ fre applied by mort6aaee at ita optioa either to the rednction of the indebtedaees hereby secured or to the nqtontiou or npair of the_ pro,peirty damxg~d or deatXoye~. In event of jQ~eclospre of this mortgage, or `other transEer~of title to said propertp in eztiaauisha~ent of the inde~tedaeas e~cured hereby, aU ' ii~t, title, aad intereet of t6c mortgagor in and to anp insurance policia then in foroe shall paes to the purchaser or morigagee or, at the option of the mortgagee, may be surrendered for a refund. ' 'i g. Ae wiD keep al1 buildinE;s and other improvementa on eaid property in good repair and condition; ~ will permit, commit, or auHer no waate, impairment, deterioration of eaid property or any part ihereof; in tl~e event of failure of tlie mortgagor to keep the buildinge on eaid premisea and thoee erected on said ~ premisea, or improvemenw thereon, in good repair, the mortqagee may make such repaire as in its diacretion it ~ may deem neceaeary for the proper preeervation therteof; and the full amonnt of each and every such payment ~ ahall be immediatel} due and payable and ehall be secured by the lien of this mortga~e. h. He will not voluntarily create or permit to be created against the property subject to thia mortgage ~ any lien or liena inferior or superior to the lien of thia mortgage without the written conaent of the mort- ~ ~agee; aad further, he will keep and maintain the same tree from the claim of all pereons supplyin~ labor or materials for conatruction of any and all~buildinge or improvements now bein~ erected or to be erected on ~ said premiaea. ~ i. He will not rent or aseign any part of the rent of said mortgaged property or demoliah, or remove, ~ or sul~tantially alter any building without the wriuen consent of the mortgagee. _ ~ ~ j. All awards of damAgea in connecdon with any condemnation for public use of or injury to any of the ~ ~ property subject to this mortgage are hereby asaigned and shall be paid to mortgagee, who may apply the : ~ same to pay~nent of the inst~llmenta laet due under said note, and mortgagee is hereby authorized, in t~ie ` ~ name of the mortgagor, to ea~ecwte and deliver valid acquittancea thereof and to appeal [rom any such award. ~ 4; k. The mortgagee shall have the right to inapect the mortgaged premieea at any reaaonable time. ~ 2. Default in any of the covenants or conditions of thia instrument or of the note or loan aRreement secured hereby aha11 terminate the mortRagor'e right to poaseaaion, uae, and enjo~ment of the property, at the option of the ~ mortRagee or his ar,~signs (it being agreed that the mortgagor ahall have such right until default). Upon any euch ~A ~ default, the moriga~ee,,ehal) become the owner of all of the renta and profite accruin~ after default as security for the indebtednesx secured hereby, with the rigl~t to enter upon aaid property for the purpose of collecting auch ~ rente and pro6ta. This inatrument ehall operate aa an aesi~nment of any rentals on said property to that extent. ~ ~ , - ~ . BOOK~~O PAGE~S~ : ~ ; - ~ e ^yey' "".T~--~~-':a..~'a 'yj.. ~ ~ _ - - . _ ' _ . _ '