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<br /> THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM TIME TO TIME. SECURITY FOR THE PAYMENT OF SUCH
<br />,••1. 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 /> EXCEED ONE HUNDRED TWENTY (12O) PER . CENT OF THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br /> U} TO SECURITY IN - ACCORDANCE. WiTH • THE ' TERMS OF THIS MORTGAGE.
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<br />•`�' THE MORTGAGOR ' , FURTHER COVENANTS AND AGREES :
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<br /> f That the . Mortgagor will pay the Indebtedness as hereinbefore. provided. .
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<br /> That the Mortgagor is the ownerof said property infers simple and has good right and lawful authority to sell and
<br /> frl convey the same and; that the same is free and clear of any lien or encumbrance ; and that Mortgagor will warrant and defend the
<br /> , ".title . lo said premises against the claims of all persons whomsoever.Kt; To pay immediately when clue and pe tide all general taxes, special taxes, special assessments, water charges, . sewer sere-
<br /> V? Ice charges, and . other taxes and charges against said property , and all taxes levied on the debt secured hereby, and to furnish the
<br /> t% : Mortgagee, upon request, with the original or duplicate receipts therefor. 'I'lw Mortgagor agrees that there shalt be added to
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<br /> each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by the . Mortgagee
<br /> r' to be sufficient to enable the Mortgagee to pay, as they become due, all taxes. .assessments, and sunlar charges upon the prem
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<br /> 4;1' ' ises subject thereto; any deficiency because ref the insufficiency of such additional pavmenls shall be forthwi h de•pisited by the .
<br /> Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shall 1w deemed a ilehmlt in
<br /> i .. payment of taxes, assessments, or similar charges required hereunder.
<br /> tt 'Fhe Mortgagor agrees that there shall also be added to each monthly payment of principal and interest required here-
<br />�tt under an amount estimated by the Mortgagee to be sulhuent to Vnahthe e Mortgagee to pay , as it becomes due , the insurance
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<br /> premium on any insurance policy delivered to the Mortgagee. Any deficiency because use of the insufficiency of such additional pny -
<br /> ments shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br /> zfe paragraph shall Int deemed a default in the payment of insurance premiums If the policy or policies deposited are such as home-
<br /> yi owners or all risk policies, and the deposits are insuffici nt to pay the entire premium . the Mortgagee may apply the deposit to
<br /> fYt pay premiums on risks required to he Insured by this mortgage .
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<br /> f^ Pay0 Payments
<br /> ments made by the Mortgagor under the above paragraphs may, at the option of the Mortgagee be held by it and
<br /> commingled with other such funds or its own funds fur the payment. of such items. and until Si) applied , such payments are hereby
<br /> $; pledged as security for the unpaid bidance of the mortgage in Iobtedni s-s .
<br /> To procure, deliver to, and maintain for the benefit of the Mortgagee during the lips of this mortgage original policies mid
<br /> &-!,', renewals thereof, delivered at least ten days h.1ore the- expiration of any such policies. insuring against (ire and other insurable
<br /> ,j : hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br /> Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form accepanhle to the Mortga-
<br /> gee. In the event any policy is not renewed on or before ten clays of its expiration . the Mortgagee may procure insurance on the
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<br /> improvements, pay the premium therefor, and such sum shall become immediately due and payable with interest at the rate set
<br /> forth in said mite until paid and shall he 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 sums advanced hereunder shall , at the option of the Mortgagee, constitute a default
<br /> ➢ under the terms of this mortgage the delivery of such poli< i s shall . in the event of default . constitute nn assignment of clic um
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<br /> "74-, earner) prcmiama-
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<br /> Any sums received by the Mortgagor f reason of loss or damage insured : g i r 1 may be tenoned by the Mortgagee
<br /> and applied toward the payment of the debt hereby a _ I or at the option of the Mortgagee , ue h .suras eitf r wholly or in
<br /> 1, part may be paid over to the Mortgagor to be used to repair such buildings or to build ' new buildings in their phiee or for any
<br /> other purpose or object satisfactory to the Mortgagee without affretinz the lien un the mortgage for the full amount secured h<• m
<br /> by before such payment ever Icx,k place.
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<br /> To promptly repair, restore or rebuild any building-s (Jr improvement . now or hereafter on the premia which may be
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<br /> come damaged or destroyed : to keep said premises in ;;void cultdihan and repair HU<I tree from any mechanic's lien , r other lien or
<br /> ji`. 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
<br /> said property nor to permit waste on said premises, nor to do any other Art whereby the property hereby conveyed shall become
<br /> less valuable, nor to diminish or impair its value by any act or omission to ail ; to comply with all requirements of haw with respect
<br /> In the mortgaged premises and the use thereof.
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<br /> ,, That should the premises or any part thereof Ino taken or damaged by reason of all public improvement or condemnation
<br /> 'i proceeding, or under the right of eminent domain, or in any other manner. the Mortgagee shall be entitled to all compensations,
<br /> awards, and any other payment or relief therefor. and shall be entitled . at its opt14111 . to t. sneers• . itppear ut and prosecute in its
<br /> awn name any action or proceeding, or to make any compromise or settlement in connection with such taking or damage. All such
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<br /> - compensation, awards, damages, right of action and proceeds are hereby assigned to the Mortgagee. who may, after deducting
<br /> }` therefrom all its expenses. release any moneys so received by it or apply the same on any indebtedness seethed hereby I he Mort -
<br /> ,. . gagor agrees to execute such further assignments of any compensation . awards, damages. and rights of action and pros ds as the
<br /> Mortgagee may require .
<br /> {l;': That in case of failure to perform any of the covenants herein, the Mortgagee may do on the Mortgagor's behalf everything
<br /> so covenanted ; that the Mortgagee may also do any art it may deem necessary to protect the hen thereof: that the Mortgagor will
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<br /> , repay upon demand any moneys paid or disbursed ursed by Ow Mortgagee for nnv of the above purposes, and such muneVs together with
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<br /> interest thereon at the rate provided in said not • se
<br /> hall become so much additional dea t dress h shy s, 1 ur d arra may b e in-
<br /> :- , eluded in any decree foreclosing this mortgage and be paid out of the rents nr proceeds of sale of said premises if nut otherwise
<br /> it paid ; that it shall not be obligatory upon the Mortgagee to inquire into li validity t f any ben, rncumhranrrs , or chain m ad-
<br /> ! ;: mincing moneys as above authorized , but nothing hereto contained shall be construed its requiring the Mortgagee to advance any
<br /> c t moneys for any such purpose nor to do any act hereunder : and that Mortgagee shall not incur any personal liability because of any -
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<br /> d. thing it may do or omit to do hereunder.
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<br /> qIn the event of the default by Mortgagor in the payment of any Installment . as regtureil by the Note secured hereby. or
<br /> ?i in the performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall lie entitled to declare the
<br /> s , debt secured hereby due and payable without notice. and the Mortgagee shall he entitled at its option. without notice- either by itself
<br /> g or by n receiver to be appointed by the court thereof, and without regard to the adequacy of any security for the indebtedness se-
<br /> ' cured hereby. to enter upon and take possession of the mortgaged premises, and to collect and receive the rents. issues and profits
<br /> ill thereof; and apply -the same, less costs of operation and collection. upon the indebtedness secured by this m rtgage - said rents ,
<br /> .�hr issues and profits being hereby assigned to the Mortgagee as further security for the payment of all indebtedness secured hereby.
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<br /> 5:, The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said prom-
<br /> ises: renting the same; collecting the rents, revenues and income, and it may pay out of said income all expenses incurred in rent -
<br /> ;f ing and managing the same and of collecting the rentals therefrom. The balance remaining. if any. shall be applied toward the
<br /> t - discharge of the mortgage indebtedness This assignment is to terminate and become null and void upon release of this mortgage.
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