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<br /> wi, 76, 001 _102
<br /> THIS. MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR THE PAYMENT OF SUCH
<br /> 11:0 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 /> )er : .
<br /> 5 "c : EXCEED ONE HUNDRED TWENTY (120) PER CENT OF THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br /> ti :::' TO PROTECT THE : SECURITY IN ACCORDANCE':: WITH ' THE TERMS- OF THIS MORTGAGE.
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<br /> l - THE MORTGAGOR FURTHER COVENANTS AND AGREES : .
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<br /> • That the Mortgagor will pay the indebtedness as hereinbefore provided.
<br /> tgThat the Mortgagor is the Owner 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 and clear of tiny lien or encumbrance; and that Mortgagor will warrant and defendthe
<br /> title to said premises against the claims- of all persons whomsoever.
<br /> T6 pay immediately when due and payable all general tries, special taxes, special assessments, water charges, sewer serve
<br /> ice charges, and other tares and charges against said property, and all taxes levied un the debt secured hereby, andto furnish the
<br /> )t ' Mortgagee, upon request, with the originalor duplicate receipts therefor. The Mortgagor agrees that there shall be added to
<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 similar charges upon the prem-
<br /> .? , isea subject thereto; any deficiency because of the insufficiency of such additional payments shall be forthwith deposited by. the
<br /> 'i :- Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shall be deemed a default in .
<br /> .p.„ payment of taxes, assessments, or similar charges required hereunder.
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<br /> ice'+ ;. The Mortgagor agrees that there shall also be added to each monthly payment of principal and interest required here-
<br /> p : under an amount estimated by the Mortgagee to he sufficient to enable the Mortgagee to pay, as it becomes due, the insurance .
<br /> f?' premium cm any insurance policy delivered to the Mortgagee. Any deficiencybecause of the insufficiency of such additional pay -
<br /> ments shall be forthwith deposited by the . Mortgagor with the Mortgagee upon demand by the Mortgagee, Any default under this.
<br /> 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 apply the deposit to
<br /> h:-4 pay premiums on risks required to be insured by this mortgage.
<br /> ) z Payments 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 hinds nr its own funds for the payment of such iters, and until so applied, such payments are hereby
<br /> lit pledged as security for the unpaid balance of the mortgage indebtedness.
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<br /> To procure. deliver to, and maintain for the benefit of the Mortgagee during the life of this mortgage original policies and
<br /> ¢ ! , . renewals thereof, delivered at least ten days before the expiration of any such policies, insuring against fire and other insurable
<br /> r. hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br /> 4 ; Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the Mortga-
<br /> �r gee. In the event any policy is not renewed en or before ten days of ifs expiration , the Mortgagee may procure insurance on the
<br /> improvements, pay the premium therefor. and such sum shall become immediately due and payable with interest at the rate set - .
<br /> ft i 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 /> �k as are herein required or failure to pay any sums advanced hereunder shall . at the option of the Mortgagee, constitute a default
<br /> I 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 sums received by the Mortgagee by reason of loss or damage insured against may be retained by the Mortgagee
<br /> is and applied toward the payment of the debt hereby secured , or. at the option of the Mortgagee, such sums either wholly or in
<br /> i11 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 any
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<br /> r, other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full amount secured here-
<br /> tit by before such payment ever took place. •
<br /> 'In promptly repair, restore or rebuild any buildingii or improvements now or hereafter on the premises which may be-
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<br /> come damaged Or destroyed: to keep said premises in good condition and repair and free from any mechanic's lien or other lien or
<br /> -if. 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 act whereby the property 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 comply with all requirements of law with respect
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<br /> to the mortgaged premises and the use thereof.
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<br /> That should the premises or any part thereof ix• taken or damaged by reason of any public improvement or condemnation
<br /> .i?: . proceeding, or under the right of eminent domain , or in any other manner, the Mortgagee shall ho entitled to all compensations,
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<br /> ..,i awards, and any other payment (Jr 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 /> li: compensation, awards, damages, right of action and proceeds are hereby assigned to the Mortgagee, who may after deducting
<br /> % therefrom all its expanses, release any moneys so received by it or apply the sauna on any indehterine•ss secured hereby. The Mnrt •
<br /> t;l, - gagor agrees to execute such further assignments of any compensation . awards, damages, and rights of action and proceeds as the
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<br /> %; Mortgagee may require.
<br /> `t` That in case of failure to perform any of the covenants herein, the Mortgagee may do on the Mortgagor's behalf everything
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<br /> 4k: i so covenanted; that the Mortgagee may also do any act it may deem necessary to protect the lien thereof; that the Mortgagor will
<br /> -3 ` repay upon demandanymoneys 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 he in •
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<br /> - - eluded in any decree foreclosing this mortgage and he paid out of the rents or proceeds of sale of said premises if nit otherwise
<br /> paid; that it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien, encumbrances. or claim in ad •
<br /> s, vancing moneys as above authorized, hut nothing herein contained shall be construed as requiring the Mortgagee to advance any
<br /> eft; moneys for any such purpose nor to do any arthereunder; and that Mortgagee shall not incur any personal liability because of any .
<br /> 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 required by the Note secured hereby or
<br /> kt . i - in the performance of the obligation in this mortgage or in the note secured thereby- the Mortgagee shall he entitled to declare the
<br /> ,; debt secured hereby due and payable without notice, and the Mortgagee shall be entitled at its nation. without notice, either by itself
<br /> tc, ,: 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 /> 'i(. . cured hereby, to enter uponand 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 operationfby mortgage :�� pp y and collection. mien the indeMlr(ness secured this moot a �c ; said trots.
<br /> 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 /> - The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said prem •
<br /> $til . ises; renting the same; collecting the rents. revenues and income , and it may pay out of said income all expenses incurred in rent-
<br /> ing and managingthe same and of collecting the rentals therefrom. The balance remaining. if any , shall he applied toward the
<br /> 3 _ discharge of the mortgage indebtedness. This assignment is to terminate and become null and void upon release of this mortgage.
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