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• • 0002 .48 �.w THIS MORTGAGE IS ALSO. . TO BE AND . CONTINUE TO BE , FROM TIME . TO TIME, SECURITY FOR THE PAYMENT OF SUCH - - i SUM OR SUMS OF MONEY AS THE. MORTGAGEE MAY FROM TIME TO TIME IN THE FUTURE ADVANCE TO THE MORTGAGOR, AND EVIDENCED BY. A . SUPPLEMENTAL NOTE OR NOTES, BUT THE TOTAL INDEBTEDNESS SECURED BY THIS MORTGAGE SHALL NOT EXCEED ONE HUNDRED TWENTY 020) PER CENT OF THE AMOUNT NOW OWING. EXCEPT FOR ANY ADVANCES THAT MAY BE MADE TO PROTECT THE SECURITY IN ACCORDANCE WITH THE TERMS OF THIS MORTGAGE. j ' THE MORTGAGOR FURTHER COVENANTS AND AGREES : v weAh s i i That the Mortgagor will pay the indebtedness as hereinhefore provided. f 737 ' t 'That -theMortgagor is the owner . of .said . property. in fee simple a,ad has. good right and lawful authority to sell and 1 i 3 Convey - the same . and that . the stune . is - free. . and clear of any lien or encumbr_aor and that Mortgagor will warrant and defend the tr F title to. said . premises against : the claims of all . . persons whomsoever. ` - t'er � " To pay immediately when due and payable nIt general taxes, special. taxes, special assessments, water charges. sewer sere,. ap , ire charges, and ' other taxes and charges against said property, and all taxes levied on the debt secured hereby. and to furnish the . ii Mortgagee, upon t quest; with ' the original at duplicate rtceipts therefor. The Mortgagor agrees . that there shall be added to • ' 'e•acli rrtonthly payment required hereundeer or under the evidence of debt secured hereby an amount estimated. by the Mortgagee tt t to be •sufficient to enable the Mortgageeto pay, as they become due, all taxes, assessments: and similar charges upon the prem ' - t ises . subjeet thereto; any deficiency because of the insufficiency of such additional payments shall be forthwith deposited by the c Mortgagor with. the Mortgagee upon demand by the. Mortgagee, Any default under thisparagraph shall be deemed a default in ' payment of taxes.: assessments, or similar charges required hereunder, The Mortgagor agrees that there . shall also be added to each monthly payment of principal and . interest required here- ..,:: :&,. ::::::..:', „-„, under anamount estimated by the Mortgagee to be sufficient to enable the Mortgagee to pay , as it becomes due, the insurance premiunron any insurance policy delivered to the Mortgagee . Any deficiency because of the insufficiency of such additional pay - ptmenta shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this ' qr paragraph shall . he deemed a default in thepayment of insurance premiums. if the policy or policies deposited are such as home owners or allriskpolicies, and the deposits are insufficient to pay the entire premium , the Mortgagee may apply the deposit to y pay premiums on risks required to be insured by this mortgage. isufif:t,, '.-', ' Payments `made by the Mortgagor under the above paragraphs may , at theoptionof the Mortgagee, be held by it and S commingled with other such funds or itsown funds for the payment of such items, and until so applied , such payments are hereby. t ( pledged as security. for the unpaid balance of the mortgage indebtedness . • gTo procure, deliver to, and maintain for the benefit of the Mortgagee during the life of this mortgage originalpolicies and renewals thereof, delivered at least ten clays before the expiration of any such policies, insuring against fire and other insurable hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness . secured -by . this Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the MortFa- '' gee. :In , the event anypolicyis not - renewed on or before ten days of its expiration, the Mortgagee may procure insurance :on . ther . ' impro ements, . pay the premium therefor, and such sum shall became immediately due andpayable with interest at the rate set x ; forth in said mite until paidand- shall lie secured . by this mortgage. Failure on :the part of the.. Mortgagor to furnish such renewals as are herein required . or failure to pay any sums advanced hereunder shall. at the option of the . Mortgagcv,•, constitute a ' ' ' -•fault under the termsof this mortgage. The delivery of such policies shall , in the event of deb-oil :. constitute- an assigrunent of the ten-- g e:arned - premium. . - h . . .. . Any sums 1'eceivedbv. the Mortgagee by reason of loss or damage insured against may he ' retained - by the Mortgagee of and applied toward the payment of the debthereby secured, or. at the option of the Mortgagee, such sums either wholly or in part may be paid over to the Mortgagor to be used inrepair such buildings or to build ' new buildings in their place or for any - other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full amount secured here ,: by before such payment ever tookplace. - . sir To promptly repair, restore or rebuild any building; or improvements now or hereafter on the premises which may he- `i` come damaged or destroyed ; to keep said premises in good condition and repair and freo from any mechanic's lien or other lien Or claim of lien not expressly subordinated to the lien hereof; not to suffer or permit any unlawful use of or any nuisance to existon said property nor to permit waste on said premises , nor to do any other act whereby the property hereby conveyed shall become at less valuable. nor to diminish or impair its value by any act or omission to act : to comply with all requirements of law with respect to the mortgaged premises and the use thereof. gt dR, That should the premises or any part thereof betaken or damaged by reason of any public improvement (Jr condemnation proceeding. or or under the right of eminent domain , or in any other manner. the Mortgagee shall be entitled to all compensations, awards: and any other payment or relief therefor. and ;hall he entitled , at its option, to commence , appear in and prosecute in its. own name any action or proceening. or to make any compromise or settlement in connection with such taking or damage. All such e compensation, awards, damages, eight of action and proceeds are hereby assigned to the Mortgagee, who may, after deducting therefrom . all its expenses. release any moneys so received by it or apply the same on any indebtedness secured hereby. The Mort- gagor agrees to execute such further assignments of any compensation , awards, damages, and rights of action and proceeds as the - Mortgagee may require. ' 4r That in case of failureto perform any of the covenants herein , the Mortgagee may do on the Mortgagor's behalf everything '-' so covenanted; that the ,'Mortgagee may also do any act it may deem necessary to protect the lien thereof ; that. the Mortgagor will - _ repay upon demandany moneys paid or disbursed by the Mortgagee for any of the above purposes , and such moneystogether with interest thereon at the rate provided in said note shall become so much additional indebtedness hereby secured and may he in- eluded in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if not otherwise paid : that it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien, encumbrances, or claim in ad- wincing moneys as above authorized , but nothing herein contained shall be construed as requiring the Mortgagee to advance any moneys for any such purpose nor todo any act hereunder : and that Mortgagee shall not incur any personal liability beoause of any- thing it may do or omit to do hereunder. In the event of the default by Mortgagor in the payment of any installment . as required by the Note secured hereby, or " - in the performance of the obligation in thismortgage or in the note secured thereby, the Mortgagee shall be entitled to declare the debt secured hereby due and payable without notice, and the Mortgagee shall be entitled at its option. without notice, either by itself rev or by a , receiver an be appointed by the court thereof. and without regard to the adequacy of any security for the indebtedness se - • s i cure'r3 . Iieireby; to enter upon and take possession of the mortgaged - az S - premises . and to collect and receive the rents, issues and profits , thereof; and apply the same. less costs of operation and colIect.ion . upon the indebtedness secured by this mortgage : said rents. issues and profits being hereby assigned to the Mortgagee as further security for the pasmeat of all indebtedness secured hereby . ' t • The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said prem - ` 6 - - . ises; renting the same: collecting the rents, revenues end income , and it may pay out of said income all expenses incurred in runt- k rt- - ing and managing the same and of collecting the rentals therefrom . The balance remaining. if any . shall be applied toward the °' 4 . discharge of the mortgage indebtedness. This assignment is to terminate and become > g null and void upon release- of this morteage. rr ' . i y . .