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<br /> 11.r) - THIS . MORTGAGE IS ALSO -'TO 'BE ' AND . CONTINUE TOtBE, FROM ' TIME' 10 TIME; SECURITY FOR THE PAYMENT OF SUCH
<br /> 2 SUM OR SUMS OF MONEY AS THE. MORTGAGEE MAY FROMTIMETO TIME IN THE FUTURE ADVANCE TO THE MORTGAGOR, AND
<br /> t'f: . EVIDENCED BY * SUPPLEMENTAL NOTE OR NOTES, BUT THE .TOTAL INDEBTEDNESS SECURED BY THIS MORTGAGE SHALL NOT
<br /> i: ; EXCEED ONE HUNDRED TWENTY (120) PER CENT OF THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br />'ke TO PROTECT ;THE SECURITY IN : ACCORDANCE . WITH ' THE TERMS . OF THIS ' MORTGAGE.
<br />. } THE MORTGAGOR • FURTHER : COV}sNANTS . AND AGREES :
<br /> r That the Mortgagor will pay the indebtedness as hereinbefore provided.
<br /> :That the- Mortgagoriis the owner ofsaidproperty infee simple and has good right and lawful authority to sell and
<br /> ter convey the same and that the same is free and clear of any lien or encumbrance: and that Mortgagor will warrant and defendthe
<br /> ` ' , title to ' snid premises-against- the claims of all persons whomsoever.
<br /> To pay immediately when due and payable all general taxes, special taxes, specialassessments, water charges, sewer sere-
<br /> le ice charges; -and other taxes and charges against said properly, and all taxes levied on the debt secured hereby, and to furnish the
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<br /> Mortgagee.
<br /> upon request, with the original or duplicate receipts therefor, The Mortgagor agrees thatthere shall be added to
<br /> ,Ieach monthly payment required hereunder or under the evidence of debt secured hereby an amount estimatedby the Mortgagee
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<br />� t to be sufficient to enable the Mortgagee to pay, as they become due, all lairs, assessments, and similar charges upon the Preen.
<br />,R: ises subject thereto; any deficiency because of the insufficiency of such additional payments shall be forthwith deposited by the
<br />�:a;. Mortgagor with the Mortgagee upon demand by the Mortgagee Any default under this paragr ph shall be deemed a default in
<br /> Mt - payment of taxes, assessments, or similar charges required hereunder.
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<br /> The Mortgagor agrees that there shall also he added to each monthly payment of principal oriel interest required here-
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<br /> tinder an amount estimated by the Mortgagee to be sufficient to enable the Mor(gngee to pay , as it becomes due, the insurance
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<br /> >"' premium on any insurance policy delivered to the. Mortgage Any deficiency because of the insufficiency of such additional pay-
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<br /> ,c . ments shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br /> r : _ paragraph shall be deemed a default in the payment of insurance premiums. If the policy or polities deposited are such as home-
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<br /> -- owners or all risk pOlicics, and the deposits are insufficient to pay the entire premium, the Mortgagee may apply the deposit fu
<br /> A. pay . premiums on risks required to 1w instil-141 by this mortgage.
<br /> Payments made by otic Mortgagor under the abaci paragraphs any . ut the option of the Mortgngeo, be held 6y it nal
<br /> �'• - commingled with other such funds or iia own funds for the payment of such items, nntl until sO applied, such pnynienis are hereby
<br /> t• • -ple'tiged as security for the unpaid balance of the mortgage indebtedness.
<br /> ' i - To procure, deliver to, and maintain for the benefit of the Mortgagee during the life of this m ortgage original policies and
<br /> k - renewals thereof, delivered at least ten days tefore the expiration of any such policies, insuring against fire and other insurable
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<br /> Xis hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by Ebb
<br /> V. Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in Lorna 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 insurance on the
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<br /> improvements, pay the premium therefor, and such sum . hall become immediately due and payable with interest at the rale set
<br /> ;� 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 /> s.h as are herein required or failure to pay any sums advanced hereunder shall , at the option of the Mortgagee constitute a default
<br /> 1,5{ - under the terms of this mortgage. The delivery of such po iicies shall . in the event of default. constitute an assignment of the on .
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<br /> 3 t earned - premium.
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<br /> t> Any sums revolved by the Mortgagee by reason of loss or damage insured against may be retained by the Mortgagee
<br /> ;*41 Y. . and applied toward the payment of the debt hereby secured , or. at the option of the Mortgagee . such suMS either wholly or in
<br /> Ad. part may be paid over to the Mortgagor to lie used to repair such buildings or to build " now buildings in their place Or for any
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<br /> other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full amount secured here-
<br /> r by before such payment ever took place.
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<br /> a• e• To promptly repair. restore III rebuilt) any buldiug-s or improvements now or hereafter on the Viet/LISPS which may be-
<br /> ifif wine damaged or destroyed : to keep said premises in goad condition and repair and tree 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 any nuisance to exist on
<br /> t? said properly nor to permit waste on said premises. nor to do any other act whereby the property hereby conveyed shall become
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<br /> less valuable. nor to diminish or impair its value by any net or omission to act ; to comply with all requirements of law with respect
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<br /> to the mortgaged premises and the use thereof.
<br /> .'til. That should the premises or any part thereof be taken or damaged by reason of any public improvement or condemnation
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<br /> g e proceeding, or under the right of eminent domain , or in any other manner, the Mortgagee shall be entitled to all compensations,
<br /> -`-xg awards, and any Other payment Or relief therefor, and shall be entitled, at tts option. to commence. appear in and prosecute in its
<br /> rill compromise name any action or proceeding. or to make any romprnise or settlement in connection with such laking or damage- Allsuch
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<br /> ±YS{ compensation, awards. damages, right of action and proceeds are hereby assigned to the Mortgagee. who only, after deducting
<br /> therefmm all its expenses, release any moneys So received by it or apply the same On any indebtedness secured hereby. The Morl-
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<br /> . gager agrees to execute such further assignments of any compensation. awards, damages. and rights of action and proceeds as the
<br /> 1-'; Mortgagee may require.
<br /> 'e ;1 That in case of failure to perform any of the covenants herein. the Mortgagee may ado Ou the Mortgagor's behalf everything
<br /> E. so covenanted; that the Mortgagee may also do any art U may deem necessary 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
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<br /> interest thereon at the rate provided in said note shall 1>e•corne so much additional irtdehtwIneas hereby secured and may be in -
<br /> cluded in any decree foreclosing this mortgage and he paid out of the rents or proceeds of sale of said premises if not otherwise
<br /> i - paid ; that it shall not he -;bligatory upon the Mortgagee to inquire into the validity of any lien . encumbrances. or claim in ad-
<br />. +',;; • voicing moneys as above authorized. but nothing herein contained shall 1»• construed as requiring the Mortgagee he advance any
<br /> ' :1 - moneys for any such purpose nor to do any act hereunder; and that Morlgager shall not incur any personal liability because of any -
<br /> f�`` thing it may do or omit to ado hereunder.
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<br /> • • In the event of the default by Mortgagor in the payment of slily installment , as required by the Note secured hereby, or
<br /> rr '. - in the performance of the obligation in this mortgage or in the note secured thereby. the Mortgagee shall 1w entitled to declare the
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<br /> •debt secured hereby due nd payable without notice, and the Mortgagee shall ho entitled at its option. without notice, either by itself
<br /> igt _ 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 /> ri . ` cured hereby, to enter upon and take possession of the mortgaged premises, and to collect and receive the rents, issues anti profits
<br /> $s}� thereof, and apply the same, loss costs of operation and collection. upon the indebtedness seniod by this mortgage: said rents,
<br /> il; 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 /> .ia_ The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said prent-
<br /> . ' ices: renting the same: ea>tlecting the rents, revenues and income . and it may pay out of said income all expenses incurred in rent-
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<br /> . ing and managing the same and of collecting the rentals therefrom. The balance remmnim;, if any, shall br applied toward Ow
<br /> C.'i discharge of the mortgage indebtedness. This assignment is to terminate and Income null and said upon release of this mortgage.
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