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. of this mort~agn and in c~llec*in~ the amount secured hereby, eac~h ancl every
` such E]~y111~'Ilt shall bear ir,terest from date t}iereof until paid at t1i~• ratc~ of
~ 10-1/~'jn per ~111I1Ut11 aild siicli payments «~ith interest thei•eon as aforesaid, shall; f
be secure:i by the lien thereof. ;
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4. To permit, c~mmit or suffer no tvaste, impairment or ; ~
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~ d~~tei•ioT•ation of said proE~erty, ar any part therPOf. ~ ~
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5. To keep the buildings, now or hereafter on said lanc~, ;
. insured against fire and tornado aiid all improvements located on said land, i ;
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- ;;in the sum not less than ~715, 000. OQ loss, if any, payable to the R~ortgagee, '
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~ ~ ; as its interest may appear, and in th~ ever.t an~~ sum of money becomes
`~payable under such policy or po'icies, the Mortgagee, its successors or
assigns, shall have tile option to receive~ and apply the same on accounf :~f the ; '
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''indehtedness secured hereby, or to permit said ;Vlortgagor to receive and~use ' '
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; it, or any part thereof, for• the pur~ose of improving said land, ~vithout `
.thereby «~aiving ~r impairing any equity, - lien or right under or Uy virtue of
: ~:this mortgage; and said l~Inrtgagee, its successors or assigns, may place and
pay for sucn insuranr.e, or any part thereof, ~vithout ~vaiving or afiecting the =
~~,option t4 foreclose, or an3~ right hereunder, and each and every payment sh411 ` _
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- ~ bear interest from date thereof until paid at the ra#e of 10-I/2aJo per annum, ~
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; and all such p~_yments, ~vith interest as aforesaic~, shall be secured by the
~ lien hereof. The l~Iortgagee, ifs successors or assigns, is empowered to
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- adjust, compromise, and suumit to arbitration ar~d appraisement and collPCt, ~
and appl~ to the reduction of said indebtedness, any claim for loss arising '
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( under any insurance policy covering said premises; and to that end the _
l~iartgabee, its successors and assigns, are irreFOCablj= appointed_the attorney ;
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~ ~ in fact of the ~iIortgagor, it~ successors or assigns, to execute and deliver _
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. such receipts, releases and other tivriting; as sFiali be requis~te to accomplish ` ~
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such adjustm.ent, co~npromise, arbitration, appraisement and collection.
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. 6. That this ntortgage is a third mortgage and in addition t~ ' ~
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.'t~vo (21 existing mortgages from the said i~Tortgagor to the said 1/Iortgagee, #
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. ~said first rnortgage ~eing recorded in Off~cial Record B~ok $8 at page 9 in ~
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,the initial s~~m of $400, 000, OC~ being assigned #o Life Insurance Company of ; ~
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~Georgia, said as~ignment recorded in Official Record ~iook lll at page 465 ;
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