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„, n . ., .. , rif , - 76- 000287 • THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE , FROM TIME TO TIME , SECURITY FOR THE PAYMENT OF SUCH l• ' 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 ( 120) 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. TI-IE MORTGAGOR FURTHER COVENANTS AND ” AGREES : That the Mortgagor will pay the indebtedness as hereinhefore provided . . . . 'Mat the Mortgagor is the owner of said property in fee simple and has good right and lawful authority to sell and .0"./;:iv,'" . t ' , S : „,iSS,,s ;. , .. P;; • ' convey the same and that the same is free and. clear of any lien or encumbrance ; and that Mortgagor will warrant and defend the { title to said premises against the claims of all persons whomsoever. To pay immediately when due and payable all general taxes,rspccial taxes. special assessments, water charges, sewer eerv- a , ice charges, and other taxes and charges against said property , and all tuxes levied on the debt securedhereby, and to (anthill the . MMortgagee, upon request, with the original or duplicate receipts therefor. The Mortgagor agrees that there . shall be added. to Thaa eachmonthly payment . required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee ge to be . sufficient to enable. the" Mortgagee to . pay , as they become due. all taxes, assessments, and similar charges upon the prem• lees subject thereto; any deficiency because of the insufficiency of such additional payments shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default tinder this paragraph shall he deemed a default in ' rayment of taxes. assessments, or similar charges required hereunder. t Fk The Mortgagor agrees that there shall also be added to each monthly payment of principal and interest required here- va under an amount estimated by the lYtortgagee to he sufficient to enable the Mortgagee to pay as it becomes due , the insurance zap' premium on any insurance policy delivered to the Mortgagee . Anydeficiency because of the insufficiencyof such additional la r p „ ' , , pay- meats shall shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the 'Mortgagee . Any default under this �, paragraph shall be deemed a default in the payment of insurance premiums. If the policy or policies deposited are such as home owners or all risk policies, and the deposits are insufficient to pay the entire premium, the Mortgagee may apply the deposit to . Q pay premiums on risks required to be insured by this mortgage. •Payments made by the Mortgagor under the above paragraphs may, atthe option of the Mortgagee, be held by it. and • ' { commingledwith other such funds or its own funds for the payment of such items. and until so applied , such payments are hereby . . pledged as security for the unpaid balance of the mortgage indebtedness. - To procure, deliver to. and maintain for the benefit of the Mortgagee during the life of this mortgage original policies and renewals thereof, delivered at least ten clays before the expiration of any suchpolicies. 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 Mortga- - gee, In theevent any policy is not renewed on or before ten days of its expiration, the Mortgagee may procure insurance on the improvements- pay the premium therefor, and such sum shall become immediately clue and payable with interest at the rate set - forth in said note until paid and shall be 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 Mortgagee, constitute a default - under the terms of this mortgage. The delivery of such policies shall . in the event of default . constitute an assignment of the un- earned . premium- k •e Any sums received by the Mortgagee by reason of loss or damage insured against may be retained by the Mortgagee and applied toward the payment of the debt hereby 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 to repair 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 took place. To promptly repair, restore or rebuild any buildings or improvements now or hereafter on the premises which may be- come damaged or destroyed : to keep said premises in good condition and repair and free 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 exist on said property nor to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shall become less valuable, nor to diminish or impair its value by any act or omission to ad ; to comply with all requirements of law wiih respect to the mortgaged premises andthe use thereof. ' That should the premises or any part thereof be taken or damaged by reason of any public improvement or condemnation proceeding, 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 shall be entitled , at its option, to commence , appear in and prosecute in its own name any action or proceeding, or to make any compromise or settlement in connection with such taking or damage, All such compensation, awards, damages, right 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 - . gager agrees to execute such further assignments of any compensation, awards, damages, and rights of action and prx.eeds us the Mortgagee may require. That in case of failure to 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 demand any moneys paid or disbursed by the Mortgagee for any of the above purposes, and such moneys together with rinterest thereon at the rate provided in said note shall become so much additional indebtedness hereby secured and may be 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 t paid; that it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien, encumbrances, or claim in ad • - wancing moneys as above authorized, but nothing herein contained shall be construed as requiring the Mortgagee to advance any ' moneys for any nuch purpose nor to do any act hereunder; and that Mortgagee shall not incur any personal liability because of any - . • thing it may do or omit to do hereunder. t - 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 this mortgage or in the note secured thereby, the Mortgagee shall be entitled to declare the debt secured herebydue and payable without notice, and the Mortgagee shall be entitled at its option, without notice, either by itself or by a receiver to be appointed by the court thereof, and without regard to the adequacy of any security for the indebtedness se- cured hereby, to enter upon and take possession of the mortgaged -c` !, g premises, and to collect and receive the rents, issues and profits thereof. and apply the same, less costs of operation and collection, upon the indebtedness secured by this mortgage ; said rents, g issues and profits being hereby assigned to the Mortgagee as further security for the payment 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- ' 1 ses; . renting the same; collecting the rents. revenues and income, and it may pay out of said income alt expenses incurred in rent - ` ing and managing the same and of collecting the rentals therefrom. The balance remaining, if any . shall be applied toward the discharge of • the ' mortgage ; ian debtedss. Thin assignment is to terminate and become null and void upon release of this mortgage.