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<br /> THIS MORTGAGE IS ALSO • TO BE AND ' CONTINUE TO BE , FROM TIME TO TIME, SECURITY FOR THE PAYMENT • OF SUCH
<br /> SUM OR -SUMS OF MONEY . AS : THE . MORTGAGEE MAY FROM TIME TO TIME IN THE FUTURE ADVANCE TO THE MORTGAGOR. AND •
<br /> EVIDENCED: BY A • SUPPLEMENTAL NOTE OR NOTES. BUT . THE TOTAL INDEBTEDNESS ' SECURED BY THIS MORTGAGE SHALL - NOT •
<br /> k EXCEED ONE, HUNDRED TWENTY (120) PER CENT OF THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES 'THAT MAY BE . MADE
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<br /> TO PROTECT THE .SECURITY:• IN ACCORDANCE 'WTTH` THE' ' TERMS OF THIS MORTGAGE,
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<br /> ` 1 ,y, THE' MORTGAGOR FURTHER COVENANTS AND AGREES:
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<br /> fa � la z.. Than. the Mortgagor .witl • pay the indebtedness: paherainbeCoreprovided. :'. �
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<br /> S. x � That , the .Mt?rtgagor is the owner Lot said propL:rty in fee simple and . has . good right- and lawful authority to sell and
<br /> e cru s a • Convey the same and that thesameis free and clear of any lienor -encumbrance: . rout . that Mortgagor will warrant and defend, the • j'
<br /> 4 'fL E title . to, said. premiaest„against the claims of atl: persona whomsoever; -
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<br /> it CAI,f4ri :, To pay immediately , when due, and payable all general faxen, special taxes. . special assessments, water charges, sewer. sere-
<br /> sy Aire charges, and other :taxes and charges against said property, and all taxes leviedon the debt secured hereby, - end to - furnish the
<br /> Ar.r Mortgage; upon request, with theoriginal or duplicate receipts therefor. The. Mortgagor agrees that there . shall .% be - added `to •
<br /> u ▪ ;- 'i earn 'imonthl payment r • d
<br /> Monthly •F y equfrisl hereunder or tinder the evidence. ofdebt secureil - henby . an amount esEimafetl bvtheMortgagce . •
<br /> x to he sufficient to enable the• !Mortgagee to pay, as they become .. due, nil taxes. assessments. and similar charges upon'.the prem.'
<br /> n • ee . ices subject. thereto; any deficiency because of: the insufficiency of such additional payments . shall be forthwith . deposited by . the - {;
<br /> ' Mortgagor With the - Mortgagee upon demand by the Mortgagee. Any default under this paragraph - shall he deemed default in
<br /> i - payment of taxes. assessments. or similar charges required hereunder.
<br /> The Mortgagor agrees that there shall also be added to each monthly payment of principal and interest required here- rr '
<br /> 'y. . under an amount estimated by the Mortgagee to be sufficient to enable the Mortgagee to pay, as it. . . becomes due, the insurance- r
<br /> f $ 7 premium en any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional ' pay-
<br /> xnents shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the . Mortgagee. Any default under this
<br /> ? paragraph shall be deemed a default in the payment of insurance premiums. If the policy or policies deposited are suchas home- , •
<br /> owners or all risk policies, and the deposits are insufficient to pay the entire premium , the Mortgagee may apply the . deposit toadj. . ,
<br /> pay - premiums on risks required to be insured by this mortgage.
<br /> } Payments made by the - Mortgagor under the above paragraphs may, atthe option of the Mortgagee,. he held. - by if and
<br /> commingled- with other such funds or its own funds for the payment of such items . and until so applied , such . payments me hereby
<br /> pledged as : security fort the unpaid balance of the mortgage indebtedness. • -
<br /> To procure, deliver to. and maintain for the benefit of the Mortgagee during the life of this mortgage original policies and : ��
<br /> ” renewals thereof. delivered at. least ten days before the expiration of any such policies, insuring against firteand other`: insurable ` _
<br /> hazards, casualties, and : contingencies as the Mortgagee may r• •1_re, in an amount equal to the indebtedness secured by this
<br /> r Mortgage- . and in. companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the Morten-
<br /> r : i gee. In the event any policy is not renewed on or before ten days of its expiration , the Mortgagee may procure insurance on the :
<br /> imprcnemenEs. , pay the premium therefor. and such sumshall bec.•ome- immediately rhleand payable with . interest at the rate. Beet
<br /> fel _ forth in said note until - paid and shall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br /> as are herein required or failure to pay any sums advanced hereunder shall, at the option of the Mortgagee, constitute a default , , .
<br /> under the terms of this mortgage. The delivery of such policies shall , in the event of default , constitute an assignment . of the tin ._ iearnrd- premium. ..
<br /> Any sums received by the Mortgagee by re.rlon of loss or damage insured against may be retained by the Mortgagee
<br /> and . applied toward . the payment of the debt hereby secured , or , at. the option of the Mortgagee, ..
<br /> f gakte, such sums either wholly or in ` _
<br /> _ • • part may he paid over to the Mortgagor to he used to repair such buildings or to build ' new buildings in their place or forany
<br /> other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full amount secured here-
<br /> o, by before such payment ever took place.
<br /> tc To promptly repair. restore or rebuild any building's or improvements now or hereafter on the premises - which may he -
<br /> come damaged or destroyed : to keep " aid premises in gexxl condition and repair and free front any mechanic's lien or otherlien or
<br /> claim of lien not expressly subordinated to the lien hereof: not to suffer or permit any unlawful use of or any nuisance to exist on
<br /> said property nor to permit waste on said premises . nor to do any outer net whereby the property hereby conveyed shall become
<br /> less valuable. nor to diminish or impair its value by any act or omission to act. : to comply withallrequirements oflaw with respect
<br /> to the mortgaged premises and the use thereof.
<br />„, "That should the premises or sop part ! hereof be taken or damaged by reason of any public improvement. or condemnation
<br /> l proceeding, . or under the right of eminent domain, or in any other manner, the Mortgagee shall }n entitled to all compensations,
<br /> awards, and any other payment or relief therefor, and shall be entitled , at its option, to commence , appear in and prosecute in its
<br /> own name any action or proceeding, or to make any compromise or settlement in connection with such taking or damage. All such -
<br /> compensation, awards. damages, right of action and proceeds are hereby assigned to the Mortgagee , who may, after deducting
<br /> • therefrom all its expenses, release any moneys so received by it or apply the same on any indebtedness secured hereby . The Mort -
<br /> gagor. agrees to execute such further assignments of any - compensation • awards, damages. and rights of action and proceeds Las the:
<br /> Mortgagee may require. .
<br /> That in case of. failure to perform any of the covenants herein . the Mortgagee may do on the Mortgagor 's behalf everything .
<br /> e ▪ t 1 so covenanted: that the Mortgagee may also do any act it may deem necessary to protect the lien thereof: that the Mortgagor will :
<br /> repay - upon demand . any ' moneys paid or disbursed by the Mortgagee for any of the above purpose:t , and such moneys together with.
<br /> interest. thereon at the rate provided in said note shall become So much additional indebtedness hereby secured and may be in -
<br /> X eluded in any decree foreclosing ibis mortgage and be paid out of the rents or proceeds of sale of .said premises if not otherwise
<br /> paid; that . it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien . encumbrances, or claim in ad-
<br /> vancing moneys as above authorized . but nothing herein contained shall le, construed as requiring the Mortgagee to advance any
<br /> ' moneys for any such purpose nor to do any act hereunder; and that Mortgagee shall not incur any persona } liability because of any
<br /> t ; Y thingitmay do oromit to do hereunder.
<br /> to - In the event of the default by Mortgagor in the payment of any installment, as required by the Note secured hereby. or
<br /> in the- performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall be entitled to declare the '
<br /> debt -secured- hereby :due and payable .without notice. .and the Mortgagee shall be entitled atits option , without notice, either by itself
<br /> or by a receiver to be appointe'<i . t)y the . court thereof. and without regard to the adequacy of • Sfl t i
<br /> ' K i Y any security for the indebtedness se
<br /> a • i cured hereby, -to enter upon and -take possession of the mortgaged premises , and to collect and receive the rents, issues and este,
<br /> •Lt� . profess
<br /> 1 thereof; and apply the same,aesrtcosts . nfoperation and m1le>trtion, upon the indebtedness secured by this mnrtga{;e . said . rents. esesset •
<br /> ai t issues and profits being hereby assigned to the. Mortgagee as further security for the payment of all indebtedness. secured hereby.
<br /> The Mortgageeshallhave the power to appoint anyagent or it may desire for the ur )uvi. f re • )airin • said
<br /> pp F agentsS) 1 repairingporn - i
<br /> ise_s7 'rentingrthe same: collecting the rents, revenues and income, and it may pay out of said income all expenses incurred in rent - "s 9
<br /> l : ing and managing the same and of collecting the rentals therefrom The balance remaining . if any . shall be applied toward the
<br /> discharge ofthe -mortgage indebtedness. This assignment is to terminate and lu•cume null and void upon r.•I ,•ae rf this mortgagee.
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