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76- 000288 THIS , MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR THE PAYMENT OF SUCH la SUM OR SUMS OF MONEY AS Mt :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 t, EXCEED ONE HUNDRED TWENTY (120) PER CENT OF THE AMOUNT NOW OWING. EXCEPT FOR ANY ADVANCES THAT MAY BE MADE TO 1tROTECT THE. SECURITY- IN - ACCORDANCE WITH' THE TERMS OF THIS MORTGAGE. 4 . THE MORTGAGOR FURTHER COVENANTS' AND AGREES : Y t That the Mortgagor will pay the •indebtedness as hereinbefore provided, iieeThat they: Mortgagor is the owner of said property in fee simple and has good right and lawful authority to sell and pp convey the same and that the sante is free and clear of any lien or encumbrance; and that Mortgagor will warrant and defend the itititin • to said premises against. the . chums of all persons whomsoever. • . . To pay: immediately when due and payable all general taxes,rspecia} taxes. special assessments, water charges, sewer sere 3* ice charges; and other taxes . and charges against said property . and all taxes levied on the debt secured hereby, and to furnish the tta Mortgagee, . . upon, request with the • original or duplicate receipts therefor. The Mortgagor agrees that there shall. he. added to Iy payment required hereunder orunderthe evidence of debt secured hereby un amount estimatedthe Marta each itirmthl y by Kee R to bes sufficient to enable the Mortgagee to pay: as they become due, all taxes. nsr:essments, and similar charges upon the prem. • , 6 . ., . . , „ hies -subject em- hieasubject thereto; any deficiency because of the insufficiency of such additional payments shall be forthwith deposited by the ' • Mortgagor wtih the Mortgagee , upon demand by the Mortgagee: Any eiefault under this paragraph shall be deemed a default in • t payment of taxes. assessments, or similar charges required hereunder. The mortgagor agrees thatthere shall also be added to each monthly payment of principal and interest required here, "1 under an amount estimated by the Mortgagee to be sufficient to enable the Mortgagee tit pay. as it becomes due, the insurance t premium • on any insuriutce policy de•livere 1 to the Mortgagee.r e Any deficiency because of the insufficiency of such additional pay - ments shall. he forthwith deposited . by the Mortgagor with the Mortgagee upon demand by the Mort eagee_ Any default under this E paragraph shall be deemed a default in the payment. of insurance premiums. If the policy or policies deposited are such ahome- • I owners or all risk policies, and the deposits are insufficient to pay the entire premium. the Mortgagee may apply the deposit to e pay prertriums on risks required to he insured by thi.e mortgage . Payments made by the Mortgagor under the above paragraphs may. at the option of the Mortgagee , be held by it and t ' commingled with 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 unpaidbalance of the mortgage indebtedness To prxure, 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 days before the expiration of any such policies. insuring against fire and other insurable • - _ hazards, ca.sualtie-_:, 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 less payable clause in favor cf and in form acceptable to the Morten- ` t . gee. In the event 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 due 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 rextuircd 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 shalt . in the event of default. constitute anassignmentof the un- earned premium. - $ Any sums received by the Mortgagee by reason of lass or damage insured against may be retained by the Mortgagee eaa : ; a . and applied toward the payment of the debt hereby secured, or. at the option of the Mortgagee. suet sums either wholly or in part may he ;said over to the mortgagor to be used to repair such buildings or to build new haildings in their place or for any other purpose or abject satisfactory to the Mortgagee without affectinc 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 nr hereafter on the premises which may be- come damaged or destroyed ; to keep said premise; in good condition and repair and free from any mechanic's lien or other hen or claim of lien not expressly sub orfinated 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 ar omission to act ; to comply with all requirements of law with respect • to the mortea{.rd premises and the use thereof. That should the premises or any part thereof be taken or damaged by reason of any public improvement or condemnation pn,c ting, or under the right of eminent domain, or in any other manner. the Mortgagee shall }xe entitiel to all impensations, _ awards: and any other payment or relief therefor. and shall be entitled, at its option . to commence, appear in and prrxeecute in its own name any action or proceeding , nr to make any compromise or settlement in connection. with such taking or damage. Al! such compensation, awards, damages, right of action and proceeds are hereby assigned to the Mortgagee, who may . after deducting therefrom all its expenses, release moneys so received by it or apply the same on any indebtedness secured hereby. The Mort - _ , gagor agates to execute such further assignments of any compensaticen . awards , damages, and rights of action and proceeds as the Mortgagee may nyuim. That in case of failure to perform any of the covenants herein , the Mortgagee may do on the Mortgagor's behalf everything so cinenanted: 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 meneys paid or disbursed be the Mortgagee for any of the above purges, and such moneys together with interest thereon at the rate prove:ed. in said note shall become so much additional indebtedness hereby secured and may he in- eluded in any decreeforeclosing this mortgage and be paid cut of the rents of 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- vancing moneys as above authorized, hutnothing herein contained shall be construed as requiring the Mortgagee to advance any moneys for any such purpose nor to do any act hereunder; and that Mortgagee shall not incur any personal liability 1.tecause of any- thing it rimy 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 this mortgage or in the note secured thereby. the Mortgagee shall be entitled to declare the e' - debt1 . . secured_ hereby due . and payable without notice, and the Mortgagee shall be entitled at its option, without notice, either by itself �` - or kw. * receiver to be appointed by the court thereof, and without regent to the adequacy of any security fer the indebtedness S- cured hereby, to enter upon andliake possession of the mortgaged premises, and to collect and receive the rents , issues and profits rr4 thereof, and apply the same, less costs of operation and collection , upon the indebtedness secured by this mortgage ; said rents, 'r1eL • issues .and prcrfits being hereby assigned to the Mortgagee as further security for the pavrnent of all indebtedness secured hereby. } The Mortgagee shalt have the power to appoint any agent or agents it may desire for the purpose of repairing said prem- 4_ry ises; renting the ssame ; caliecting the rents. revenues and income. tend it may pay out of said income all expenses incurred in rent- .. ing and managing the same and of collecting the rentals therefrom . The balance remaining, if anyshall be applied toward the discharge of the mortgage indebtedness. This assignment is tor terminate and become null and void upon release .11 this mortgage- • . . ..... L_ { . I I .