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ROGEA P01?RI?5 ;
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tingencies for such periods and for not less than such amounts as may be required
by the Mortgagees and to pay promptly when due all premiums for such insurance.
The amounts of insurance required by the Mortgagees are expressive of only the ~ ;
minin~um amountg for which said insurance shall be ~rritten and it shall be incum- '
bent upon the Mortgagor to maintain such additional insurance as may be necessary
to meet and comply fu11q with all co-insurance requirements contaiaed in said i
policies to the end that said mortgagor ia not a co-insuror thereunder. Insurance ~
shall be Written by a company or companies approved or designated by the mortgagee ~
and all policies and renevals thereof~shall be held by the Mortgagee. All j
detailed designations by the Mortgagor which are.accepted by the Mortgagees and~ k
all agreements betWeen Mortgagor and Hortgagees relating to insurance,.now exist-
ing or hereinafter made, shall be in writing and shall be a part of this
mortgage agreemeat as fully as though set forth verbatim herein and shall govern
both parties hereto and their successors and assigns. No lien upon any of said
policies of insurance or upon any refund or return premium which may be payable
on the cancellation or tet-~tnation thereof, shall be given to other than the
Mbrtgagee, except bq proper endorsement affixed to such policy and approved by
Mortgagee. Each policy of insurance shall have affiued thereto a Standard
MOrtg,agee~Clause acceptaUle to the Mortgagee,:, making all loss or losses under
such policy paqable to the Mortgagee as its interest may appear. In the event
any sum or sums of money become payable thereunder the Mortgagee sha11 have the
option to receive and apply the same on account-of~the indebtedness teereby ~
secured, or to permit the Mortgagor to receive and use it, or aay•part thereof,
vithout thereby waiving or impairirg any equity, lien or right under and by virtue
of this mortgage. In event of loss or physical damage to the mortgaged propertq ~
the Mortgagor shall give imm~ediate notice thereof by mail to the Mortgagee and the
MOrtgagee maq make proof of loss if the same is not made promptly by the Mortgagor
In event of forecloaure of this mortgage or other transfer of title to the mort-
gaged property in eutinguishment of the indebtedness secured hereby, a11 right, _
title and interest of the Mortgagor in and to any insurance policies then in ~
force shall pass td~the purchase of grantee. Upon any default thereof, the Mort-
gagee may (but without obligation on their part to do so) place insurance on ~
such buildings and pay the preffiium and charge such sums so paid to the Mortgagor ~
and such sums of money paid shall bear interest from the date of payment at the =
rate of eight per centum.per annum. -
The mortgagar agrees to permit, commit or suffer no waste, impairment or
deterioration of said property, or any part thereof, and upon the failure of the
Mortgagor to keep the buildings on said property in good con@ition of repair,
the Mortgagee may demand [he immediate repair of said buildiags, or an increase
in the amount of security, or the immediate repayment of the debt hereby secured, ,
and the failure of the Mortgagor to comply t~rith said demand of the Mortgagee for
a period of 30 days shall constitute a breach of this mortgage, and, at the optio ~
of the Mortgagee, iminediately mature the entire unpaid principal a4d interest
hereby secured, and the Mortgagee maq, without notice, institute proceedings to
foreclose this mortgage, and apply for the appointment of a Receiver, as herein-
after provided.
That, in the event that at the beginning of or at any time pending any suit
vpon this mortgage, or to foreclose it, or to reform it and/or to enforce payment
of anq claims hereunder, said Mortgagee shall apply to the court having ~uris-
diction thereof for the appointment of a Receiver, such court shall forthwith ' ~ `
-appoint a Receiver of said mortgaged property all and singular, including all and
ginoular the income, profits, issues and revenues from whatever source derived,
each and every of vhich,.it being expres.sly understood, is hereby mortgaged as
if spec.ificallq set forth and described in the grauting and habendum clauses
hereof, and such Receiver sha2Z have all the broad and effective functions and
po~rers in anywise entrusted by a Court to s Receiver, and such appointment shall
be made by such court as an admitted equity and a matter of absolute right to f
said Mortgagee, aad without reference to the adequacy or inadequacy of the value
of the propertq mortgaged or to the solvency of the Mortgagor, and/or the defend-
ant, and such rents, profits, incomes, issues and revenues shall be applied fiy
such Receiver according to the lien.and/or equity of said Mortgagee and the
practice of such court, and such appointment of Receiver shaZl be without notice
to any obligor hereunder.
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