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<br /> 7 000380"
<br /> f " THIS ;MQRTGAGE IS Al-SO .- TO . BE. AND CONTINUEeTO. BE, FROM TIME . TO TIME, SECURITY FORTHEPAYMENT OF SUCH
<br /> re. r SUM OR SUMS OF. MONEY AS-THE MORTGAGEEMAYFROM TIME TO TIMEIN THE FUTURE ADVANCE TO THE MORTGAGOR, AND
<br /> 1111 L EVIDENCED BY A SUPPLEMENTAL NOTE :OR' NOTES;$UT 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 /> 'Pt?: TO PROTECT THE SECURITY IN rACCORDANCE WITH THE TERMS' ' OF TICS MORTGAGE.
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<br /> TFIR MPItTGAGO -FGATITEit COVENANTS AND AGREES :
<br /> Pts 'Tliiat the MOrtgugnr Will pay, ii indebtedness ns hereinbefore provided,
<br /> Ir
<br /> flat the Mortgagor is : the Owner of said property in fele simple and has good rightand lawful authority to sell and
<br /> convey-Lille saine and that the same. is free and clear ofany lien ()remembrance; and. that Mortgagor will warrant and defend the.
<br /> pit.ttale to sniff vitalises against the dullest. of . all persons whainsoever,
<br /> :. ; Tir pay irntnedrately when 'duo and payable alt general taxes, spucinl taxes, special assessments: eater charges, sewer serve
<br /> its :charge's.
<br /> and ether taxes and charges against said property, and a!1 taxes levied on the debt securedhereby, and to furnish the r
<br /> yte1• Mortgagee. upon retIuest; with the original/ or duplicate receiptstherefor. The Mortgagor agrees thatthere shall be added - to
<br /> C , . .each monthly payment inquired . hereunder or underthe evidence of debt secured hereby an amounCestimated by. tile?Mortgagee.to be .esitffieient to unable the 'Mortgagee to pay , n9 they hrwxnne due rill taxes, assn;oonts, and similar charges .,upou the prom.
<br /> lees subject ' thereto; any deficiency because 'of the. :insufficiency - of such additionalpaymentsrrhall 'de forthwith deposited by ' the
<br /> Mortgagor with. . the Mortgagee upon :demand by the itforIgngeer Any default under this paragraph shell k' dermad a default ' in' -
<br /> i payment of taxes, as;essinenta, or similar charges mgnirca hereunder: '
<br /> t ,
<br /> The Mortgagor agrees , hut there shall also be added to each monthly payment, nl principal, and interest required here
<br /> r • under an amount estimated by the htortgagen to he sufficient to t'iuhle the Mortgagee to pay, as it becomes due the insurance: f
<br /> premium on any insurance policy delivered to the Mortgagee. Any deficiency because of I (ue insufficiency of such additional . pats
<br /> e , + r tents shall box forthwith deposited by the Mortgagor- with . the Mortgagee open dement' by the Mortgagee. Any default under this
<br /> shall be
<br /> l` , paragraph
<br /> wn owners orr al risk policies, and . the ,depos is payment
<br /> iii uficaemt insurance
<br /> pay . rther entire prethe
<br /> tnium,icthe Mortgagee may deposited- are
<br /> e dy the Ninth
<br /> de deposits home‘
<br /> to
<br /> paypremiums 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, be meld by it and
<br /> fri,i-5 . ; commingled with other such loads or its awn funds for the payment of such items, and until so applied. such payments arc hereby
<br /> vi; pledged as :security- for the unpaid_ balance of the mortgage indebtedness, •
<br /> { a '1'o procure,- deliver for and maintain for the-ht'nefit of the Mortgagee during the life of this mortgage original policies and
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<br /> h ,- renewals thereof, delivered at least ten days iefore the expiration of any such policies, insuring against lire and other insurable„ hazmtds, casualties, and contingencies as the Mortgagee may require, in on . amount equal to the. indebtedness: secured by this
<br /> e ' Mortgage, rind in companies acceptable to 11w Mortgagee, with loss payable cause in favor of and in form acceptable to the Mortga .
<br /> r gee, LIn theeventtans policy isnot renewed on or before ten days pf its expiration, the Mirrtgancr.e may procure insurance on the
<br /> improvements, pay . the Inentiutntherefor. and such sum shall became immediately due .and payable With interest at the rate set
<br /> zea,• • forth in said note until paid andshall hit Syrians' by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br /> ?i.•. • - as an' hereinregoired or failure to pay nayrsums ndvnt cal hereunder shad, at the option of the Mortgagee,. constitute. 'a default
<br /> under the derms .of this mortgage. The delivery of such policies shall ; in the event of default , constitute an. assignment. . of the n- . .
<br /> earned premium,
<br /> {i - Any stuns receivedby the L Mortgagee le reason of loss or damage insured against may be eetained lythe Mortgagee
<br /> and applied twvatd - the payment of the debt hereby secured, or. al, the option of the . Mortgagee, such suints either wholly or in
<br /> t ' part May be !mid over to the Mortgagor to be used to repair such buildings or to build ' new buildings in their place or for any
<br /> t. ' other purpose or object satisfactory to the . Mortgageewithoutatfecting the lien or themortgage for the full amount stewed here-
<br /> by. before such payment over took plate.
<br /> - 1'0 promptly spor, rest are lir rebuild any building or Irnpr,Yeml •.nts now or hereafter on the premises which may he-
<br /> come damaged or destroyed ; lokeep said pnunises in good condition and repair and free from any mechanics lien or other lien or
<br /> claim of lien note:prossly su}xrrdin:tied to the lien hereof: not to suffer or pertnit any unlawful use of or any nuisance hi exist on
<br /> said properly nor to permit waste on said premise.. . nor to do any, other act . Mirre ly the tingierty hereby conveyed steal ! become -
<br /> kcs valuable, nor to r(ininislror impair it: Value by any net or omission. to act ; to comply with :all requirements of law with respect
<br /> .e ,_ to the mortgaged premisesand the ase thereof. -
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<br /> That should the premises or any part diviner be taken or damaged by reason of any public improvementor condemnation nmaion
<br /> proceeding, or undo the right of eminent domain, c_ r in any other manner, the Mortgagee shall be entitled to all compensations.
<br /> awards, and any other payment or relief therefor. and shall ho untitled, at its option, to commence. appear in and unmet:ente in its
<br /> own Milne any action or pnxreding, : or - to make any connpmmtso or settlement in connection with such taking or damage. All such
<br /> compensation, awards, damages, right of action and proceeds are bete iv assigned to the Mortgagee, who may. after deducting
<br /> .y . therefrom au ifs expenses, release any moneys so received by it or apply the same on any _ indebtedness secured hereby , The \tort ,
<br /> gagor agrees toexecutesuch further assignments of any compensation, awards. damages. and rights of action and prenrocds as the
<br /> rt.;, - Mortgagee may . require. .
<br /> .g, ;
<br /> At:L . ' r • 'flint in case of failure to perform any of thecovenants herein, the Mortgagee may do on the Mortgagor's behalf everything
<br /> MI covenanted : that . the . Mortgagee may also do. any actit may tiepin necessary to protect the lien thereof; that the Mortgagor will -
<br /> repay upon demand any moneys pail or disbursed by the Mortgagee fee any of the above purposes, and such moneys together with
<br /> interest thereon at the rate provided in said note shall become fin much ndtii (ionat indebtehross hereby xecurcd and anus 114e in-
<br /> eluded in any decree foreclosing this mortgage and be paid out of the roots or proceeds of sale of said promises s if not otherwise
<br /> VI, - paid: . that it shalt not lx, obligatory upon the Mortgagee to inquire into ( In validity of any lien , encumbrances,s, or claim in nib . .
<br /> `Arc L . canting moneys as. above: authorized, but nothing herein contained shall be construed as requiring the Mortgagee to advance any
<br /> ," - moneys for anysuch purpose nor to do any acthereunder: and that Tlortgague .shall not, incur any personal liability because Of any .
<br /> 4.-..,. .,; 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 requited by the Note second hereby, or
<br /> kf-o- in the performance. of the obligation in thin mortgage or in the note secured thereby, the Mortgagee shall ho entitled to di, lam the
<br /> • debt secureil herchydue and payable without notice, and the. Mortgagee shall be entitled at ifs option. without notice. either by itself
<br /> 4‘.!,./.; by n receiver to be appointed by the court thereof. mid withoutregard to the adequacy of any security for the indebtedness se
<br /> - cured hereby,• to enter upon and.take pnsscssialnof the mortgaged premises. anti to colic t and receive the rents. issues and profits
<br /> tbareof; . and apply the sane, less ctts(s . ol operation nod collection, upon the indebtedness secured by this mortgage; said rents,
<br /> f " - iv ues and profits being hereby assigned to the Mortgagee as further security for the payment nt of all indebtedness edne•ss wound hereby .
<br /> The Mortgagee shall have the power to appoint: any agent or agents it may desire (or the pu rpace pf repairing said pn' m
<br /> 3 " ' las: renting nll
<br /> the same; ceclimgrents,thereh , revenues and income, and it may pay old of said income all expenses mrurrrd in rent-
<br /> ink -and managing the same - and of collecting the rentals therefrom . The balance remaining. if any, shall be applied toward the
<br /> • d •
<br /> ischarge of the mortgage .. indebtedness, 'Phis assignment is Io terminate and become null and void n eon 'dense o
<br /> t f this mortgage
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