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<br /> sk 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 /> '` EXCEED ONE HUNDRED TWENTY ( 120) PERCENT OP THE AMUUNT NOW AWING, EXCEPT FON ANY ADVANCES THAT MAY t E. MAGE
<br /> 7O PROTECT THE SECURITY : IN ACCORDANCE. : WITW THE TERMS OF THIS MORTGAGE.
<br /> rP f THE MORTGAGOR FURTHER COVENANTS ANI? AGREES :
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<br /> That.. the Mortgagor wailpay the indebtedness ashrreinbeforo. provided,
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<br /> ' That the Mortgagor isthe owner of Said property in fee simple and has good right and lawful authority to sell and
<br /> ,l r convey the same and that the : casae is: free and clear of any lion or encumbrance ; and that Mortgagor . will warrant and defend the
<br />,,t4' title to, sant premises ' against the dairy of all persons whomsoever. .
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<br /> lid To pay - immediately when due and playable all general taxes: special taxes, special assessments, .water charges, sewer- Merv •
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<br /> l lee charges, and other taxes .incl charges against said property, and all trees. levied on the debt securest hereby , and to furnish the
<br /> Mortgagee, . upon request. with :the original or duplicate receipts therefor. Plus Mortgagor agrees that there shall be added to
<br /> each monthly payment required hereunder or under the evidence of debt secured hereby car amount estimated by tlu, hlurtgngee .
<br /> to he sufficient to enable the Mortgagee to
<br /> pay , as they become dais . all. taxes assessments , and similar :charges titan. the pace
<br /> ises subject thereto; any deficiency because of the insufficiency of such adi tional payments shall he forthwith depersited Icy Ihe•
<br /> .$' Mortgugvr with the. Mortgagee upon demand by the Mortgagee.c^. any default under thin , ,aragrr. ldr shall lie rJeraneti a default in
<br /> rc a payment: of taxes, assessments. or similar charges required hereunder.
<br /> Tad Mortgagor agrees that there shall also lie added to each monthly payment of principal and interest required here-
<br /> rY under an amount estimated by the Mortgagee to be sufficient to enable the \tart ; apse to pay , as it becomes due : the insurance
<br /> premium Ent any twtir:tnce policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pay •
<br /> merits shall . he forthwith deposited by the Mortgagor with the Mortgagee upliftdenutrnl by the Mortgagee. Any default under this .
<br /> paragraph shrill be deemed a default in the payment Of insurance premiums. If the policy or policies deposited are such as hcune • . - _
<br /> owners or all risk policies, and the deposits are insufficient. to fray the entire premium, the Mortgagee may apply the deposit to
<br /> Fv pay premiums on risks required to be insured by this mortgage.
<br /> Pai•ments made by- the Mortgagor under the above paragraphs nuts . ti the option of the Mortgagee, be held by it and
<br /> commingled wiLb other such funds or itsown fronds for the payment of such items , mill until so applied , such payments are hereby
<br /> pledged lel x+rurity for the unpaid b.tlane ' n( the mortgage indebtedness. e
<br /> ` To procure, deliver to , and maintain for the benefit of the Mortgagee during the life of this mortgage original policies +. nd. pi -
<br /> renewrrls . t.hcireof, delivered at least ten days before the expiration of any such policies , insuring against fire and Other insurable}utzards, casualties, and contingencies as the ,Mortgagee may require, in an amount equal to the indebtedness secured by Clint
<br /> Mortgage ttnd in companies acceptable to the Mortgagee. with loss payable clause in favor of and in fore, acceptable to the \Inrtga: •
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<br /> gee. - In the event any policy is not renewed on or before ten shays of its expiration . the Mortgagee may procure insurance on the
<br /> improvements. pay the premium- therefot^ and such sum shall iecome immediately duo and payable with interest at theroteset
<br /> forth in said note. until paid and shalt. be secured by this mortgage. Failure on the part of the \iorigagur n, furnish such renewals as are herein required or failure to pay any sums advanced hereunder shall, at the option of the Mortgages', constitute a default. .
<br /> rr under the terms . of this mortgage, The delivery of such policies shall , in the event of default_ runatihtte an assignment in the um
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<br /> earned premium:
<br /> Any sums received by the Mortgagee by reason of loss or . lamage, insured against may he retained by the Mortgagee
<br /> $111(1appliedtoward the payment of. the debt hereby secured. or, at. the option Of tire Aiertia :ee- such sums either wholly or in I.
<br />�<q part may he paid over to the Mortgagor to he lewd to repair such buildings or to build ' new buildings in Hair place or for soy
<br />[t other purpose or object satisfactory to the Mortgagee yviihnut affecting the hen on the mortgage h r the full amount soured here
<br /> Yt by before such . payment ever took place.
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<br /> 'co promptly repntr restore or rebuild any huddurgv 41 irnpn,vemE•nl •- nose or } aereaRer un the prettlele9 whic}r tray be -
<br /> come damaged or destroyed : to keep .said premises in gist( ' condition and repair and free from any mechanic lien or other hen or
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<br /> ts. claim 01 lien riot expressly sulwnth-o lerl to the lien hotpot ;t ; not to suffer or permit any uniarwlhl use of or any nuisance to exist un
<br />.... said property nor to permit waste on said premises. nor to do ally other act whereby the property hereby convoyed shall become
<br /> less valuable, nor to diminish or impair its value try any act or oenissi oa to art ; to comply with all requirement ,: of law Willi respect
<br /> to the mortgaged premises anti the use thereof.
<br /> r, ' That should the premises or any part thereof he taken or damaged by reason of : env public improvement or condemnation
<br /> proceeding, or under the right. Of eminent domain , or in any other manner, the Mortgagee shall be entitled to all compensations,
<br /> awards, and any other payment or relief therefor. and shall he eutitie, 1 . at. its option . to commence. :appear in and prosecute in its
<br /> `• owtr name any action or preceeding , or to make any cenrprumiae or settlement in connection with such taking Err damage, All such - -
<br /> compensation - awards. darnagrs. right of acttott and procecvls are hereby assigned to the doer gager . who may , after cfeductin¢ '
<br /> therefrom all its expenses, release any moneys no received by it or ❑ prply the same• un any indarbMdnesrc secured hereby . ilea \'[ bel •
<br /> gagor agnea' to execute .such further assignments of any corn !vnsation . awards. darnattes , mid rights: of action and prnreetis 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 covenanter} : that the Niortgagee may also do any art ifmay deem necessary to protect the lien thereof : Hurt the Mortgagor will
<br /> ' repay upon demand any moneys paid or disbunrc•d by the Mortgagee! fur any of the above purposes, and such moneys together with -
<br /> 14• interest thereon at the rate provided in said note shall became so Hauch additional indebtedness hereby secured and oras he in - . .
<br /> eluded in any decree foreclosing this muni gage and be paid out of the rents Or proceeds of sale of said premises if not e , tlietwise
<br /> paid : that it shalt not be obligatory upon the Mortgagee to inquire into the validity of any lien. encumhr taxes . or claim in ad .
<br /> wincing moneys as above authorized . but nothing herein contained shall be ec .nst orad :n: ;Alvin-mg Ilm Mortgagee to at Isaacs: ally -
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<br /> moneys (or any such purpose nor to do any ad hereunder : and that Mortgagee shall not incur any personal liability because. of ane -
<br /> thing it may do or omit to do hereunder.
<br /> In the event of the default by Mortgagor in the payment of any installment. . as required In the Note spear d hereby . or
<br /> r in the, lx•rfermana• of the obligation in this mortgagi' Ent in the note secured thereby , : ; »• Mortgagee shall by entitled rl to declare the
<br /> debt secured hereby due and payable without notice , and the Mortgagee shall be entitled at its option. without notice , either by itself _:
<br /> 4 or by a retsriver . to be uppuinitd by the court thereof, and without regard to the adequacy of any security for the indebtedness s . ' f.•
<br /> • cured hereby. to enter upon and take possession of the mortgaged premise:. and to collect acid receive the rent ., issues rad profits
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<br /> thereof, and apply the same, less costs of Operation and collection . upon the indebtedness secured by this mortgage ; .aid rents ,
<br /> 1 issues and prithts being hereby assigned to the Mortgagee as further security for the payment nt of al ( indebtedness Secured hereby .
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<br /> - eche Mortgagee. shall have the power to appoint. any agent. or events it may destn for the purpose .. f rE •pnurng said prc•ht -
<br /> } rwW; renting the same: collecting the rents, revenues and income . unit it may pay out of said income ail expenses incurred to rent - -
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<br /> irrg and managing the sanrn and of cOOeonng the metals there( n,rn . 'Che balanc r.:•nyninamK. if any , shall t .• ,applied towatowardrho
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<br /> diacharae; oC- lho Mortgage indebtedness. This assignment is to Terminale and become null and veal epee colo, : „ • el nv •rtgnge.
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