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<br />, ' 76- 000 '765
<br />'1'. THIS MORTGAGE Is : ALSO TO . BE` AND CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR THE PAYMENT ' OF SUCH
<br /> 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 :SECUREDBY THIS MORTGAGE SHALL NOT
<br /> t',, EXCEED ONE HUNDRED TWENTY (120) : PER CENT OF THE ' AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br /> ry; TO ' PROTECT . THE:. SECURITY IN7ACCORDANCE :WITH " THE TERMS OF THIS MORTGAGE.
<br /> I THELMORTGAGOW.TURTHER COVENANTS AND AGREES :
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<br /> n , - That the Mortgagor will : pay the indebtedness as hereinbefore provided.
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<br /> , That the Mortgagor is the , ewner , of said property in fee simple and has good . right and lawful authority to sell : and
<br /> convey the same and that the same is free andclear of any lienor encumbrance; and . that. Mortgagor will warrant and defend the
<br /> title to said `.premises - against the ,'daimsof all persons whomsoever.
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<br /> yTo pay immediately when due and payable all general taxes, special taxes, special assessments. water charges, sewer sere
<br /> 9_ ice charges, and other tuxes and charges against said property, and alltaxes levied on the debt secured hereby, and to furnish the
<br /> SnMortgagee, upon request, with . the original or duplicate receipts therefor. "Die Mortgagoragreesthat there shelf be adder! to
<br /> I4 ' cosh monthly ' paymentrequired hereunder or under the evidence of debt secured hereby an amount estim:ted by the Mortgagee
<br /> e'i (o be sufficient to enable the Mortgagee to pay, as they become due, all taxes assessments, andsimilar charges upon the prem-
<br /> ises subject thereto; any deficiency because of the insufficiency of such additional payments shall be forthwith deposited by the
<br /> Mortgagor with the Mortgageeupondemand by the Mortgagee. Any default under this paragraph shall he deemed a default in
<br />} ' payment of faxes, assessments, or similar charges required hereunder.
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<br /> The Mortgagor agrees that there stall also be added to each monthly payment of principal and interest required hero-
<br /> :• -.:funder an amount eslinmted by the Mortgagee to he sufficient to enable the Mortgagee to pay , as it becomes due, the insurance
<br />{t( premium on any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pay-
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<br />:z, meats shall - be - forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this i
<br /> 4$ paragraph shall be deemed a default in the payment of insurance premiums. If the policy or policies deposited are such as home-
<br /> p.= owners or all risk policies, and the deposits are insufficient to pay the entire premium , the Mortgagee may apply the . deposit to
<br /> : pay premiums on risks required to be insured by this mortgage.
<br /> v: Payments made by the Mortgagor under the above paragraphs may . at the option of the Mortgagee, he held by it and
<br /> 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 theunpaid balance of the mortgage indebtedness.
<br /> I' To priamre, deliver to, and maintain for the benefit of the Mortgagee during the life of thin mortgage original policies and
<br /> . .t ' renewals thereof, delivered at least ten days before the expiration of any such policies, insuring against fire and other insurable
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<br /> hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness sexual by thist-'3 : Mortgage, and in companies acceptable to the Mortgagee, with lass payable clause in favor of and in form acceptable to the Mnrtga-
<br /> (i, gee; In the event any policy is not renewed on or before ten days of its expiration, the Mortgagee may procure insur ace on the
<br /> •1,-" improvements, pay the premium therefor. and such sum shall become immediately due nod payable with int rest at the rate set
<br /> pip forth in said note until paid and shall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br /> as are herein required or failure to pay any suns advanced hereunder shall. at the option of the Mortgagee, constitute a default
<br /> e _ . under the terms of this mortgage. Thy delivery of such policies shall , in the event of default. constitute an assignrnenl of the un -
<br /> „▪, earned premium.
<br /> I Any sums received by the Mortgagee 1w reason of loss or damage insured against may be retained by the Mortgagee !
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<br /> and applied toward the pnym°-.,t of the debt hereby secured, or, at the optima of the Mnrlgngec, such sums either wholly or in
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<br /> 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
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<br /> other purpose or object satisfactory to the Mortgagee wilhout affecting the lien on the mortgage for the full amount securer) here-
<br /> Sii. by before such payment ever took place .
<br /> . t To promptly repair. restore or rebuild any buildings or improvements now or hereafter on the premises which may be-
<br /> come dantagedl nr destroyed : to keep sail premises in goad condition and repair and free from any mechanic's lien or other lien or
<br /> claim of lien not expressly subordinated to the lien hereof not to suffer or permit any unlawful use of or piny nuisance to exist on
<br /> '! said properly nor to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shall become
<br /> }; 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
<br /> . to the mortgaged premises and the use thereof.
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<br /> That should the premises or any part thereof he taken or damaged by reason of any public improvement or condemnation
<br /> proceeding, or under the right of eminent domain, or in any other manner- the Mortgagee shall be entitled to all compensations,
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<br /> p.li . awards, and any other payment or relief therefor, and shall be entitled. at its option. to commence. appear in and prosecute in its
<br /> own name any action or proceeding. or to make any compromise or settlement in connection with such taking or damage.. All such
<br /> ty compensation, awards, damages, right of action and proceeds are hereby assigned to the Mortgagee, who may. aft,r deducting
<br /> therefrom all its expenses. release any moneys so received In it or apply the same on any indebtedness secured hereby. The Mort -
<br /> .:%� gager agrees k to execute such further assignments of any compensation_ awards. damages. and rights of action and procee as the
<br /> .i Mortgagee may require.
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<br /> `' That in case of failure to perform any of the covenants herein. the Mortgagee maty do on the Mortgagor's behalf everything
<br /> so covenanter!; that the Mortgagee may also do any act it may deem necessary to protect the lien thereof: that. the Mortgagor will
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<br /> - repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes, and such moneys together with
<br /> 0interest thereon at the rate provided in said note shall become so much additional indebtedness hereby secured and may bein-
<br /> Ililuded in any decree foreclosing This mortgage and be paid out of the rents or proceeds of sale of said promises ii not otherwise
<br /> paid; that it shall not he obligatory upon the Mortgagee to inquire into the validity of any lien. encumbrances. or claim in ad-
<br /> vancing moneys as above authorized , but nothing herein contained shall he construed as requiring the Mortgagee to advance any
<br /> moneys for any such purpose nor to do any act hereunder ; and that Mortgagee shall not incur any personal liubihty because of any - :
<br /> thing it may do or omit to do hereunder.
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<br /> r; In the eventof the default by Mortgagor in the payment of any installment. as required by the Note secured hereby, or
<br /> It' in the performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall be entitled to declare the
<br /> t6 debt secured hereby due and payable without notice. and the Mortgagee shall he entitled at. its option. without notice. either by itself
<br /> 1 or by a receiver to be appointed by the court thereof, and without regard to the adequacy of any security for the indebtedness se-
<br /> ;3i cured- hereby, to enter upon and take possession of the mortgaged premises, and to collect anti receive the rents. issues and profits
<br /> 2,314 thereof; and apply the- sane, less costs of operation and collection, upon the indebtedness securer) by this mortgage ; said rents,
<br />' Sp- • issues and profits being hereby assigned to the Mortgagee as further security for the payment of all indebtedness secured hereby.
<br /> f'.i The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing .said prem-
<br /> f; ; ises; - renting the same; collecting the rents, revenues and income. and it may pay out of said intorno all expenses incurred in rent -
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<br /> � inK . and managing the same and of collecting the rentals there! ram . The balance remaining, if any, shrill be applied toward the
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<br /> ' discharge of the mortgage indebtedness, This assignment is to terminate and Meorne null and void upon release of this mortgage.
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