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<br /> bil. 76. 000738 •
<br /> THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR THE PAYMENT OF SUCH
<br /> `i ' 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 /> F;' ' ' EXCEED ONE HUNDRED TWENTY (120) PER CENT OF THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br /> TO PROTECT THE SECURITY IN • ACCORDANCE. . WITH- THE TERMS OF THIS MORTGAGE.
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<br /> 3 THE MORTGAGOR , FURTHER . COVENANTS AND AGREES :
<br /> 4:: That : the Mortgagor will pny the indebtedness as hereinbefore provided.
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<br /> That the Mortgagor is the Owner of said property in fee simple and has goal right and lawful authority to sell and
<br />-0 convey the same and thatthe same is free and clear of any lien or encumbrance: and that Mortgagor will warrant and defend the
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<br /> : title , to . premises against the claims of aft persons whomsoever.
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<br /> V."- To pay immediately when due and payable all general taxes, special taxes, special assessments, water charges, sewer sere.
<br /> ° ice charges, and other taxes and charges s a •ainst said property, awl all taxes levied on the debt secured hereby, and to furnish the
<br /> il0 Mortgagee, upon request, with . the original or duplicate receipts therefor. 'Phe Mortgagor agrees that there shall be added to
<br /> ky each monthly payment required hereunder or under the evidence of richt secured hereby an amount estimated by the Mortgagee
<br />,fp, to be sufficient to enable the Mortgagee to pay as they become clue, all taxe . assessments. and similar charges upon rho prem
<br /> ' axes subject thereto tiny deficiency because of the insufficiency of such additional payments shall he forthwith deposited by the .
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<br /> y-, : Mortgagorwith the Mortgagee upon demand by the Mortgagee. Any default wader this paragraph doll he deemed a default in
<br /> payment of boxes, Assessanents. or similar charges required hereunder.
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<br /> The Mortgagor agrees that there shall also lie added to each monthly payment of principal and interest required here-
<br /> tinder an amount estimated by the Mortgagee to be sufficient to enable the Mortgagee to pay, as it becomes due , the insurance
<br /> fl , premium on any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pay -
<br /> hl- meats shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee . Any default under this
<br /> 5,..?„,;, paragraph shall be deemed a default in the payment of insurance premiums. If the policy or policies deposited are such as home-
<br /> owners or all risk policies, and the deposits are insufficient to pay the entire premium , the Mortgagee may : pply the deposit to
<br /> pay premiums on risks required to he insured hy this mortgage.
<br /> t4} Payments made by the Mortgagor under the above paragraphs cony . at the option of the Mortgagee, be held by it and
<br /> ''1.) commingled with other such funds or its own funds for the payment of such items, and until so applied. such payments are hereby
<br /> pledged as security for the unpaid balance of the mortgage indebtedness.
<br /> y ' . To procure, deliver to, and maintain for the benefit of the Mortgagee during the life of this mortgage imaginal policies and
<br /> renewals thereof. delivered at least ten days before the expiration of any such policies. insuring against fire and other insurable
<br /> }' • hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
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<br /> Mortgage. and in companies acceptable to the aMortgage with loss payable clause in favor Cuf and III form acceptable to the Mortga-
<br /> gee, In the event any policy is not renewed on or before ten days of its expiration . the Mortgagee may procure insunmce on the
<br /> r., improvements, pay the premium therefor, and Such suns - 1 all became immediately due and payable with interest at the rate set
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<br /> .G- ,. forth in said note until paid and sheath be secured by this mortgage Failure on the part of the Mortgagor to furnish such renewals
<br /> i`. .. ns are herein required or failure hi pay any sums advanced hereunder .shall . at the option of the Mortgagee. constitute a default
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<br /> 9l.'::" under the terms of this mortgage. The delivery of such policies shall- in the event of default , constitute an assignment of the ' un-
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<br /> earned premium.
<br /> Any Mums received by the Mortgagee by reason of loss or damage insured against may be retainer) by the Mortgagee
<br /> i- ' and applied toward the payment of the debt hereby secured . or, at the option of the Mortgagee, such sums either wholly or in
<br /> part may be paid over to the Mortgagor to he used to repair such buildings or to build ' new buildings in their place or for ally
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<br /> other purpose or object satisfactory to the Mortgagee without : llecting the lien on the mortgage for the full amount secured here-
<br /> by before such payment ever took place.
<br /> if". To promptly repair. restore or rebuild any buildings er improvements now or hereafter on lie premises which may be -
<br /> come damaged or destroyed : to keep said premises in good condition and repair and free from any mechanic's lien or other ben or
<br /> claim of lien not exp-^s.• ly subordinated to the lien hereof : not to suffer or penult any unlawful use of or any nuisance to exist on
<br /> said property nor to permit waste on said premises, nor to do any other act whereby the properly hereby conveyed shall become
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<br /> less valuable, nor to diminish or impair its value by any act or omission to act. to (molly with all requirements of law with respect
<br /> V: to the mortgaged premises and the use thereof.
<br /> That should the premise-s or any part thereof lee taken or damaged by reason of any puhlw improvement or condemnation
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<br /> proceeding- or under the right of eminent domain, or in any other manner. the Mortgagee shall he entitled to all compensations,
<br /> ?_. awards, and any other payment or relief therefor. and shall be entitled . at its option , in commence. appear in and prosecute in its
<br /> 35e1 own name any action or proceeding, or to make any compromise or settlement in connection with such taking or damage. All such
<br /> compensation. awards. damages. right of action and proceeds are hereby assigned to the Nlortgagee. who may, after deducting
<br /> therefrom all its expenses, release any moneys so received by it or apply the si+me un any indebtedness secured herebyThe Morl-
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<br /> l'e : gagor agrees to execute such further assignments of any compensation . awards. damages, mal rights of action and proceeds as the
<br /> c";,• A-lortgageo may require.
<br /> . That in case of failure to perform any of the covenants herein . the Mortgagee inay de on the Mortgagor s behalf everything
<br /> - , so covenanted ; that the Mortgagee may also do any act it may deem n cessary to protect the lien thereof; that the Mortgagor will
<br /> repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes. and such moneys together with
<br /> `•. interest thereon at the rate provided in said note shall become so much additional indebtedness hereby secured and may be in -
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<br /> chided in any decree foreclosing this mortgage and he paid out of the tenth or proceeds of sale of said premises if not otherwise
<br /> uc = paid; that it shall not he obligatory upon the Mortgage! to inquire into the validity of any lien , encumbrances . or claim in ad-
<br /> t:; . vancing moneys as above authorizerd, hut nothing herein contained shall lie construed as requiring the Mortgagee to advance any
<br /> is - moneys for any such purpose nor to do any act hereunder: and that Mortgagee .shall not incur any pe•rsonal liability because of any -
<br /> . '- thing it may do or omit to do hereunder_ 1
<br /> . . � In the event of the default by Mortgagor in the payment of any installment , as required by the Note s cured larrebv, or
<br /> 7t in the performance of the obligation in this mortgage or in the note secured Iherehy, the Mortgagee stud ! he entitled 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 /> . Q"," or . by a receiver to he appointed hy the court thereof. and without regard to the adequacy of any security for the indebtedness soe-
<br /> .j;'„ '_ cured hereby, to enter upon and take possession of the mortgaged premises, and to collect and receive the rents, issues and profits
<br /> thereof, and apply the same, less costs of operation and mike-lion, upon the indebtedness .secured its this mortgage: said rents,
<br /> ° issues and profits lying hereby assigned to the Mortgagee as further security for the payment. of all indebtedness secured hereby.
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<br /> ' . - The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said imam -
<br /> ' 0:l ises; renting the same; collecting the rents• revenues and income . and it may pay Out (If said income all expenses incurneo l in rent -
<br /> ing and managing the same and of collecting the rentals therefrom . The balance remaining, of any. shall hr ;applied toward the
<br /> discharge of the mortgage indebtedness. This as:agnrnen , is to terminate and heroine null and void upon release of this mortgage,
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