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for change of grade of streets. Mortgagee is hereby authorized,
on behalf and in the name of Mortgagor, to execute and deliver
valid acquittances for, and to appeal from any such judgments or
awards. Mortgagee may apply all such sums or any part thereof
so received, after the payment of all of its expenses, including
costs and attorneys fees, on the indebtedness secured hereby in
such manner as it elects, or at its option, the entiere amount
or any part thereof so received may be released.
TO HAVE AND TO HOLD the above granted and described
premises to Mortgagee, its heirs and assigns, forever, and
Mortgagor does hereby fully warrant the title to said land
and will defend the same against the lawful claims of all persons
whomsoever; provided always that•if Mortgagor shall pay to
Mortgagee that certain promissory note above described and shall
perform all other covenants and conditions of said promissory
note, and of any renewal, extension or modification thereof, and
of this mortgage, then this mortgage and the estate hereby cre-
ated 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 renewal,
extension or modification thereof.
2. To pay when due, and without requiring any notice from
Mortgagee, all taxes, assessments of any kind or nature and other
charges levied or assessed against the premises hereby encumbered
and produce receipts therefore upon demand. To immediately pay
and discharge any claim, lien or encumbrance against such pre-
mises which may be or become superior to this mor-tgage and to
permit no default or delinquency or any other lien, encumbrance .
or crarge against such premises. To remove within fifteen (15)
days any statutory or similar mechanics or other lien against
the premises and not to encumber further all or any part of the
premises. -
3. To provide fire insurance with extended coverage,
no-reporting form, and covering such other risks and perils as
Mortgagee in its discretion may require, including at least all -
hazards covered by an "all risk of physical loss" policy. The ~
policy or policies of such insurance shall be in the form in
general use from time to time in the locality in which the pre-
mises are situate, for the risk covered thereby, shall be in an
amount equal to 100$ of the full insurable value of the im-
provements, and shall be issued by a company or companies ap- ~
proved by Mortgagee, and shall contain the Standard Mortgages ~
Clause with loss payable to Mortgagee. Any and all amounts re-
ceived by Mortgagee under any of such policies may be applied
by Mortgagee on the indebtedness secured hereby in such manner
as Mortgagee may, in its sole discretion, elect, or at the ~
option of Mortgagee, the entire amount received or-any part
thereof ma~ be released. Neither the application nor the release
of any such amount shall cure or waive any default. Such in- ~
surance shall at all times be subject to approval of Mortgagee
as to amount, company, form and expiration date.~ Upon exercise ;
of any power of sale given in this mortgage or qther acquision
of the premises or any part thereof by Mortgagee, such policies ~.
shall become the absolute property of Mortagee. '
4. To first obtain the written consent of Mortgagee, .~
which consent shall not be unreasonably withheld, before
(a) removing or demolishing any building now or hereafter
erected on the premises, (b) altering the arrangement, design
or structural character thereof, or (c) making any repairs which
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