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Home My WebLink About0301 1. The twotrtgagor oovenaats and agrrees a. follanra: s. 8e will prompily Pal the indebtedness evidenced by said promissory note at tba times and is the ataaaer theteia provided b. Ha will pay aD taus, assessaseaty water rates, sad other governmental or municipal charges, Snea, or impoaitioos, fot which provision has not bees made hereinbelore, sad will promptly deliver the oAicial receipts therefor to the said mortgagee c. He will pay each expenses and fees as may be incurred in the protcctioa and maintenance of said property, including the fees of any attorney employed by the mortgagee for the collection of say or all of the indebtedness hereby secured, or for foreclosure by mortgagee's sale, or court proceedings, or in any other litigation or proceeding affecting said premises. Attorneys' fees reasonably incurred in any other way shall be paid by the mortgagor. d. For better security of the indebtednas hereby secured, upon the request of the mortgagee, its wo- cessors or aesiRrts, he shall execute and deliver a supplemental mortgage or mortgagee covering any additions, improvements, or betterments made to the property hereinabove described :.red all property acquired by it after the date hereof (all in form satisfactory to mortRagee). Furthermore, should mortgagor fail to cure any default in the payment of a prior or inferior encumbrance on the property described by this inatrumen4 mortgagor hereby agrees to permit mortgagee to cure such default, but mortgagee is not obiiRated to do so; and such advances shall become part of the indebtedness secured by this instrument, subject to the same terms and conditions. . e. The rights created by this conveyance shall remain in full force and eBect during any postponement or extension of.the time of payment of the indebtedness evidenced by said promissory note or any part thereof secured hereby. J. He will continuously maintain hazard insurance, of ouch type or types and in ouch amounts as the mortgagee may from time to time require on the improvements now or hereafter on said property, and will pay promptly when due any premiums therefor. All insurance shall be carried in aompaniea acceptable ~ to mortgagee and the policies and renewal thereof shall be held by mortgagee and love attached thereto loss payable clause in [avor of and in [orm acceptable to the mortgagee. In event o[ loss, mortgagor will give immediate notice in writing to mortgagee, and mortgagee may make proof of lass if not made promptly by mortgagor, and each insurance company concerned is hereby authorised and directed to make payment for arch loss directly to mortgagee inrtead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby - secured or to the restoration or repair of the property dama6ed oi'ddtroyed. In event of foreclosure of this mortgage, or other transfer of title to said property in a:tinguiahment of the indebtedness secured herby, aU right, title, sad interest of the mortgagor in and to any insurance policies they is force shall pass to the purchaser or mortgagee or, at the option of the mortgagee, may be surrendered for a refund. g. He will keep all buildings and other improvements on said property in good repair and condition; ! will permit, commit, or auHer no waste, impairment, deterioration of said property or any part thereof; ~ in the event of failure of the mortgagor to keep the buildings on said premises and those erected on said premiae0. or improvements thereon, in good repair, the mortgagee may make such repairs ae in its discretion it may deem necessary for the proper preservation thereof; and the full amount of each and every such payment j shall be immediately due and payable and shall be secured b~ the lien of this mortgage. f ~ h. He will not voluntarily create or permit to be created against the property subject to this mortgage any lien or liens inferior or superior to the lien of this mortgage without the written consent of the mort- ~ gages; and further, he will keep and maintain the acme free from the claim of all persons supplying labor or j materials for construction of any and all buildings or improvements now being erected or to be erected on ~ said premises. ~ i. He will not rent or assign any part of the rent of said mortgaged property or demolish, or remove, I or substantially alter any building without the written consent of the mortgagee. t j. All awards of damages in connection with any condemnation for public use of or injury to any of the property subject to this mortgage are hereby assigned and shall be paid to mortgagee, who may apply the t same to payment of the installments last due under said note, and mortgagee is hereby authorized, in the name of the mortgagor, to execute and deliver valid acquittances thereof and to appeal from any ouch award. k. The mortgagee shall have the right to inspecC the mortgaged premises at any reasonable time. a 2. Default in any of the covenants or conditions of this instrument or of the note or loan agreement secured ~ F~ereby shall terminate the mortgagor's right to posseaaion, use, and enjoyment of the property. at the option of the _ mortgagee or his assigns (it being agreed that the mortgagor shall have such right until default). Upon any ouch y default, the mortgagee shall become the owner of all of the rents and profits accruing after default as security for the indebtedness secured I~ereby, with the right to enter upon said property for the purpose of colleMing such rents and proSta. This instrument shall operate m an assignment of any rentals on said property to that extent. t z