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Home My WebLink About0958 • ~ S ~ ' i :d~'~' ,.~is'~. TO PROTECT THF. SECURITI: HF.REOf, MORTGAGOR COVI:NANTS AND AGRt:t:S: tl)To Icrcp said premixs inwr~xf ~a~ro1 6rc and wrh other , rawalties as !he Mottgagce may s,~ecify, up to the full rslue of all improvemnnts for the ptotrction of ~lorta;qtrt in wch manne~, in wch amounlc, ai~ in wch ~ companits u Idortaagee may from ti~e to ~ime approve, u+d ta keep the policies thetefot, proparly endossrd, un deposit wilh M~rtja~tr. and that {oss Qroreeds (kss expenses of cnllection) shatl, at Morl;s~ee's option, be applied on suQ indebtedneu, w•hctlxt dur w not ur ~o tbc rc~toration ot said ~mprovements. !n eveet of bss Morta~or will 6i:~e immediate ~otice by mail lo thc Mortas~ee who msy mafce proof of bss if no1 made promptly by Mort~tagor, and .sch insutance company conrrr~d is henby authorized and directed to makr payment for w~~t? los~ dirccUy to titort~ee instn4d of , Mortg~ot. (2) To pay a!! iszea and special asresunents of any kind that hare been or may be kvied or as~essed updn s.ld pcemi~s. ot sny put thereof. l~I ln tht erent of default by Mort~s`or undet Paragrap6: I or 2 aboro, Mor1~a~ee ,=t its option (wbether ekctine to declare the whok indebtedneu securtd heeeby due and colkcti~b or nw), may (a) eff~ct the ~wrance aiwve provided for and pay the ttasonsbk premiums s~nd rhar~es thrrefa~; (b)pa Y all said taxts and acseumeMs aithout determinint the vytidiry thereof, and (c) paY :uch liens and all wch distwrsements st~all be deerRed a par! of tM indcbtedness secured by th~s Mori~s~te and sh:ll bt immediately due and payabk by Morttagor to Mortgagte. (i) "fo krep the buildi~s and otAet improrements now or hereafter erected in ~tood conditian and trpsu, not to commit or wfier any waste ar any use of said prcmurs rontnry to rrstmlion ut re~ord ot rontnry to lavvs. ordinances or re~tulations of propet public authority, and to permit fNort~Cagee to enter at a!1 r=asonabk tim~s fot the purpose of inspectinj the ptemises, not to remove or demoGsh any building thercon; to comgkte withm One Hundred Ei`bty (lSOf Days or rcstore promptly and in s Eoo~ and workmanl~ke manner any building whxh may bt construrted, damaaed or destroyld tbereon and to pay, wAen due~ alt claims !or iabo+ performcd and material furnisbed theafor. (Si That the time oi payment ot the i~tebtedness hereby srcuted, ot of any pcution thereof, may br e~trnded ur renrwrd and any }+ortions ot the premises herein des?-ribed may, without notice, be cekssed irom the tiea herevf, without relrasin6 or aCfectir?g thr {xrsonal lubility of sny perum or rotporstan fo~ the payment of said indebtedoess or the lien of this instrument upon t6e remaindrt of sakl premises fo~ the futl amounl o[ said indebtedoess then remaininy unpaid. and no chan~e in the ownrrship of said premises shall akase, trduce or othetwise affect any such persaul {ia6ility on ihe ?ien hereby rreated. (b) . That he is seizad of the premises in (ce simplc and has aood and tawful rt'~h t to ronvey the same: a~ that !K docx twreby forcver vrarrant snd will fonver drfend the titk snd poa~euion theraot asainst tAe lawful claims oS any and all penons whstsoever. ' IT IS MUTUALLY AGR6ED THAT: t1) If thc aaid litoctgaEor siull faii or ne6lect to pay inatallmeats on said "Pcomiswry Note or on any other advance or ! obti;ation which may be secured hercby ss the same may hereafter become due, or upon default in performance af any agreement hereunder, or upon saie or ' other disposition o! the premises by Mort6agor, or slwuld any action or p:ecoedir~ be fikd in any court to enfoca any ben oa, clai~n asainst or intere:t in the ~ premises, then all wms owm~ by the Mort~or to the MortEa~e uRder this Mortgaae or under the Promissory Note secured bereby shall immed'utety l+ccome due and payabk at the optwn of the Mortp6ee, on the sppliration of the Mort~a~e , or aui~nee, or any person who rtuy be entitkd to the monies due thereon. In wch erent the Mortp6ee skatl have the ri6ht immc.diately to torecbse this Mortga~e acrnrdinE to law for tAe coUection of the whok amount of the indebtedneu and interest thereon p9us reawnabk attorney's fees cosa atbwed by !aw and any amounts sd~ranced punuan~ to this Monga~e. {2) Mortia6~t a6rces to sutrender pomuion of the hereinabove described premises to the Purchaser at the a(oresaid uk, immediately attu wch sak. in ths erent wch possession has not previousty been wrt~ndered by Mortgagor, and for iailure to wrrender posseuion, wiU Qay to Purchaser Ihe reasonable rcntal value of the premises durir~g or after the rcdemFtion period. (3) In the erent ssid prrmiscs ue sold by Mottpga, Mortg~or, if a signer of the Promissory Note, stiall be liabk ioc any deficitncy remaining atter sile of the prrmisea, and application of the proatds of said sale to tha indebtedneu ~ecured and to the expenscs of oonductin6 uid sak. includina attoreey's fees and Ie~l expenses if allowed by bw. (4) Whenerer, by the terms of this instrument, Mortaagce is givtn any option, wch optioo may be exercised when the riEht aoctues or at any time thereatter. an~ no acceptance by Mort~ee or payment ot indebtedneu in defautt shall constitute a wairer of any deTault then ez?stitt6 and continuin6 or Ux~eafter accruins. (5) If Mort6asor shall pay said Pramissory Note at the time and in the manner a[o~~said artd shall abide by. comply with, and duly perform atl the covenants and aareements herein, then this oonveyance shall be null and void and Mort~ee wiU, wiUin t!~ statutary period after ~vritten demand thc[efor by t+fortgaRor. execute a rekase or satisfution of this Mott~e. t6) Notwithstandina anythina in this IMortgsae or the Promissory Note aecutcd i~ereby to the contruy, neither this Mortaage nor ssid Promessory Note shiU be deemed to impose on the Mort~gor any obligation of payment, except to the extent thst the same mry be k~lty enforaabk, and any pcoridon to the contrary sha8 be o( no force or e[tect. A~ Mort6agors shall be jointly and xverally liabk for fulfillment of their oovenanu and apeements herein oontained and in uid Promisaory Note. (8) If any Debtor is a mairied perwn. he repreunts and wuranb that this instrument ha: been executed on tw behalf, and tlut he has not executed the s~me as surety for sttothei. ' (9) Each of us, whether Principal, Sucety, Guuantor, Endorser. or other party hereto. hereby waive: and reaounces, each fa himself and famity. any and a11 I homestad or exemFtion rishts in the property conreyed t~ereunder. either of us hav~e under or by virtue of the Constitution or Laws of any State, or of the Urtited States, or sny riaht m Ux natuce of dower or curtery. of any ststutory wb~titute ttxrefor u apinst this debt or any rcne~val tlxreof. t 10) In the erent thc Morisagor(s) transfer(s) the ownership of the said premises, or any put theteof, the entire unpaid batanoe of the debt secured heteby sl~all immed.iatdy beoome due and payable. , _ ~ t~ . y ~ ! 1~ np~Q j I 4a~V`_t~7 f ~ E i j ~ ~0 ~O `f.\i ~ ~ FILEO kk; ;;ti:::~s;;!:~ ~ RQf~ER POiih~?~. Ci_~r~K ~ ~ ~ 4 0; 5T. L IE ~~~N Y. 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