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<br /> TH$St:SAORTGAGE '. IS • ALSD TO BE . AND • CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR THE PAYMENT OF SUCH •
<br /> ''''''' . ' , .: t' SUM OR SUMS OF MONEY AS THE MORTGAGEE MAY FROM TIME TO TIME IN THE FUTURE ADVANCE TO THE MORTGAGOR, AND
<br /> c Cdtr EVIDENCED dr SY': A• SUPPLEMENTAL NOTE' OR NOTES, BUT THE TOTAL INDEBTEDNESS SECURED BY THIS MORTGAGE SHALL -NOT '
<br /> ° • EXCEED ONE HUNDRED TWENTY (120) PER CENT- OF• THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br /> r" r TO : PROTECT. THE SECURITY IN ACCORDANCE WITH . THE :TERMS OF THIS MORTGAGE.
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<br /> 1 HE 4dffRTfi/lt3UB' FURTHEFR COVENANTS ' AND AGREES :
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<br /> s to tr t Tltat tha: iVftsrtga8nr wjfl pay the indebtedness aR hereinbefore provided.
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<br /> t t er Thai the fvinrtgagor is the owner of said property in fee simpleand has good right and lawful authority to sell and
<br /> 411 ti Coney the .yams aud . that thea same is frees and- clear of any lien or encumbrance: and that Mortgagor will warrant and defend the
<br /> a• a tiue . tn said ,premisesagainst' the cleans .of . all :, persons whomsoever. . .. . . N j -
<br /> f14 To Iwy ,immediately when due and payable all general tuxes, special taxes, special ussessments, water charges, sewer sere-
<br /> ice '.chxrg'esand tither: taxes- and charges against said property, and all taxes levied on the debt :secured hereby, and to furnish the
<br /> Mortgagee, upon request,' . with the original or duplicate receipts therefor. The Mortgagor agrees that . there . shall he .. added to
<br /> X each monthly payment required hereunder or under the . evidence , of. debt secure;1 hereby . art amount estimated by the,, Mortgagee
<br /> ,� + to be sufficient• to enable: the Mortgagee to : pay, as :they become due, all taxes . assessments: and similar. charges upon the prem
<br /> ises. slaid Set -:thereto; : any deficiency because of the insufficiency of s-uch additional paymentsshall he forthwith cfeposittei by t.hn
<br /> Mortgagor with the Mortgagee • upon demand by the Mortgagee: Any default under this- paragraph shall be deemed a default in
<br /> '' payment of taxes, assessments, - or leitnifar charges required hereunder.
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<br /> The • Mortgagor agrees that there shall : also be added to each monthlypayment of principal and Interest . required here -
<br /> c tinder an amount estimated lir the Mortgagee to be sufficient to enable the Mortgagee to pay .. as it becomes due ,. the insurance- r
<br /> premium on anyinsurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pay - „L' ' - r • , „ - ' L . „asearsara;,--ataa
<br /> s i nenls::shall heforthwithdeposited by the Mortgagor with the Mortgagee umxsn demand by the . Mortgagee. Any default under this
<br /> t paragraph shall be deemed a default in the payment of insurance premiums. if the policy or policies icies deposited are such - as home .-
<br /> - owners at all risk policies, and the deposits are insufficient to pay the entire premium , the Mortgagee may apply the deposit to
<br /> > l e pay premiums on risks required, to be insured by this mortgage.
<br /> 'r Payments made by the Mortgagor under the above paragraphs may , at. the option. of the Mortgagee, Lw held by it and
<br /> commingled with othersuch funds or its own funds for the payment of such items, and until so applied , such payments ate hereby -
<br /> ' pledged as ;security for the unpaid balance of the mortgage indebtedness.
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<br /> To procure, deliver to . amt maintain for - the benefit of the Mortgagee during the life of this mortgage originalpolicies and
<br /> t - renewals thereof, delivered at leaat ten daysbefore the expiration of any such policies• insuring against fire aunt other insurable[ .
<br /> hazards, casualties, ant contingencies as the . Mortgagee may require, in an amount equal to the indebtedness secured bv : this
<br /> Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the Morten-
<br /> gee. In the ' event - any policy isnotrenewedon or before ten days of its expiration. the Mortgagee may procure insurance on theea-
<br /> - improvements, pay The - premium- therefor. and such - sum shall lwcome -irnntediately ' due - and payable. with interest at the rate set
<br /> forth insaid note until paidandshall be securer) by this mortgage. Failure on the part of the Mortgagor to furnish suchrenewals .
<br /> as ' are - herein required er failure to pay any sums advanced--:hereunder : shatt, 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 un-
<br /> '� earned premium:
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<br /> a - Any mints received by the - Mortgagee by reason of loss or damage insured against may be retained by the Nlertgagee
<br /> -Mn! applied toward the -- pitymeat of the debt hereby secured . or. at the option of the Mortgagee, such sums either wholly or in
<br /> part may be paid over to the Mortgagor to he used to repair such buildings or to build ' new buildings in their place or kir any _
<br /> other purpose or object: satisfactory to the Mortgagee without, affecting the lien un the mortgage for the full amount secured - here-
<br /> f by before such payment ever took place. -
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<br /> To promptly- repair, restore er rebuild any building; or improvements now ser hereafter on the premises which may he- • •. •
<br /> come damaged or destroyed : to keep said premises in good condition and repair and free from any mechanic's lien or other llien or ••
<br /> s _ claim oflien not expressly subordinated to the lien hereof; nut to suffer or permit any unlawful use of or any nuisance to ' exist on
<br /> a • saidproperty norto permit wase on said premises . nor To do any other act whereby the property hereby conveyed shall bean-rte ..
<br /> lessvaluable, nor to diminish or impair its value by any act or omission to act ; to comply with all requirements ofLlaw with respect
<br /> to the mortgaged premises anti the use thereof-
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<br /> 'That should the premises or any part thereof be taken or damaged by reason of any public improvement or condemnation
<br /> proceeding, . or under the right of eminent domain, or in any other manner, the Mortgagee shall be entitled t:. all c-nrepensations, -
<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 anyactitan or proceeding, or to make any compromise or settlementin connection with such taking or damage. An such
<br /> compensation, awards. damages. right of action and proceeds are hereby assigned to the Mortgagc'P. whn may, after deducting
<br /> therefrom. all its expenses, release any moneys so received by a or apply the same on any indebtedness secured hereby. 'the alert -
<br /> e gagor agrees. to.. execute such further assignments of any crompensxafinn. awards. damages. and rights of action and proceed •; as the
<br /> Mortgagee may require_ _
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<br /> That in case of failure to perform any of the covenants herein, the Mortgagee may do on the Mortgagor's behalf everything
<br /> so covenanted ; that the Mortgagee may also do any actit may deem necessary to protect the lien thereof: that. the Mortgagor will .
<br /> repay upon demandanymoneys paid or disbursed by the Mortgagee [or any of the above purposes . and such moneys together with .
<br /> interest thereon at the rate provided in said note shall became so much additional indebtedness hereby secured and may he in-
<br /> cluded in any decree foreclosing this mortgage and be paid outof the rents or proceeds of sale of said premises if not (Ahem-Lae
<br /> paid; that- it shall not he obligatory upon the Mortgagee to inquire into the validity of any lien. encumbrances. or claim in ad-
<br /> v - vancing• moneys as ' above authorized. but nothing herein contained shall be 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 personal liability because of any - -
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<br /> . it may do or omit to do . hereunder.
<br /> S - In the event of the defauft by Mortgagor in the payment of any installment . a required by the. Note secured he:ebv: er
<br /> in the performance of the obligation in this mortgage or in the mote ,secured thereby, the Mortgagee shall be entitled to declare the
<br /> debt -secured hereby -due andpayable without notice. and the Mortgagee shall he entitled at its option . without notice- either by itself
<br /> or byera receiver to be •appointed by the court thereof. and without regard to the adequacy of any security for the indebtedness. ae-
<br /> • vt - hereby- upon and -:take : iossession. of the mortgaged gent
<br /> t cure$ to enter 4 - g b premises, and to collect and receive the runts. issues and profits -
<br /> thereof, and-a!ply the same. less costs- of operation and collection . upon the indebtedness secured by this mortgage: said rents,
<br /> issues and }*rafib beiag .heretry assigned to -the Mortgageeas further security for the payment of all indebtedness: secured hereby . _;,t
<br /> Thee Mortgagee shall have - the power to appoint any- agent or agents it may desire for the purpose e of repairing said prem -
<br /> r ices; mating:Abe -same: collecting the rents; revenues- and income , and it may pay out of said income ail expenses incurred in rent-
<br /> . .. ing and managing the sane and of collecting the rentals therefmm_ The balance remaining. if any , shall he applied toward the
<br /> discharge of the mortgage indebtedness. This assignment is to fermirnte and become null and -: oid upon release of this mortgage.
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