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Home My WebLink About0993 • _ ~ 1. The mortgagor oovmants and agrees a, follarwt a He will proenptl7 par the indebtedness evidenced by said promirory note at the times sad is tbs manner therein provided b. 8e will par all tares. tasesanrents, water rates, sad other governmental or mnnidpal charges, fitses, or impositions, fob which provision has not been made heninbefore, and wiU promptly deliver the o6eial r+eoeipts therefor to the said mortgagee. c. He will pay such expenses and fees as may be incurnd in the protection sad maintenance of said _ ! property, including the fees of any attorney employed by the mortgagee for the collection of any or all of the indebtedness hereby secured, or for foreclosure by mortgagee's Bale, 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 indebtedness henby secured, upon the request qi the mortgagee, its Sao- ~ season or assigns, he shall execute and deliver a supplemental mortgage or mortgages covering any additions, i • improvements, or betterments made to the- property hercinabove described :.red all property acquiured by it after the date hereof (all in form satisfactory to mortgagee). Furthermore, should mortgagor fail to cure 4 t any default in the payment of a prior or inferior encumbrance on the property described by this instrument, mortgagor henby agrees to permit mortgagee to cure such default, but mortgagee is not obligated to do so: and such advances shall become part of the indebtedness secured by Chia instrument, subject to the acme t terms and conditions. e. The rights created by this conveyance shall remain in full force and cBect during any postponement or extension o[ the time of payment o[ the indebtedness evidenced by said promissory note or.any part thereof second hereby.. He will continuously maintain hazard insurance, of such type or types and in atrch amoanta as the mortgagee may from time to time require on the improvdments now or hereafter on said property, and will pad promptly when due soy premiums therefor. All inurranoe shall be carried in companies aeoeptable to mortgagee and the policies and renewals thereof shall be held by=mortgages send have attached thereto loos payable clawes in favor of and in form acceptable to the mortgagee.-In event of 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 authorized and directed to make payment for such 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 henby secured or to the restoration or repair of the property damaged or destroyed. In event of foreclasnre of this ` mortgage, or other transfer of title to said property in eztinguishment of the indebtedness secured henby, all right, title, and interest of the mortgagor in and to any insurance policies rhea in force shall psss to the purchaser or mortgagee or, at the option of the mortgagee, may be surrendered for a refund. g. lle will. keep all buildin, a and other improvements on said property in good repair and condition; will permit, commit, or suffer no waste, impairment, deterioration bf 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 t i premises, or improvements thereoB, in good repair, the mortgagee may make such repairs as in ire discretion it E may deem necessary for the proper preservation thereof: and the [ull amount of Pesch and every ouch payment € shall be immediately due and payable and shall be secured by'the lien of thin mortgage. h. He will not voluntarily create or permit to be created against the property subject to thin mortgage any lien or liens inferior or superior to the lien of thin mortgage without the written consent of the mort- gagee: and further, he will keep and maintain the same free from the claim of all persons supplying labor or 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, or substantially alter any building without the written consent of the mortgagee. j. All awards of damages in connection with any condemnation for public use of or injury to any of the property subject to this mortgalCe an henby assigned and shall be paid to mortgagee, who may apply the same to payment of the installments last due under said note, and mortgagee is henby authorised, in the z name of the mortgagor, to execute and deliver valid acquittances thereof and to appeal from any such award. ; x k. The mortgagee shall have the right to inspect the mortgaged premises at any reasonable time. s 4 2. Default in any of the covenants or conditions of this instrument or of the note or loan agreement secured • hereby shall terminate the mortgagor's righj to possession, use, and enjoyment of the property, at the option of the mortgagee or his assigns (it being agreed that the mortgagor shall ha~~e such right until default). Upon any such default, the mortgagee shall become the owner of all of the rents and profits accruing after default as security for the indebtedness secured hereb}', with the right to enter upon said property for the purpose o[ collecting such rents and profits. Thin instrument shall operate as an assignment of any rentals on said propert to that extent. • • j ~~~,~,i3 i tM • j l i~,~~, ? ~~~~329 P~~E 9~~:3