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76- 001158
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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 '
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<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 SECURED BY THIS MORTGAGE SHALL NOT
<br /> 1 ` . EXCEED ONE HUNDRED- TWENTY ( 120) PER CENT OF THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br /> r ft . TO PROTECT THE SECURITY IN ACCORDANCE WITH THE TERMS OF THIS MORTGAGE.
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<br /> 6.1:1:::: ./. '. . H . .. THE MORTGAGOR FURTHER COVENANTS AND AGREES : •
<br /> t7 That the Mortgagor will pay the indebtedness as hereinbefore provided .
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<br /> That 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 saute is free and char of any lien or encumbrance : and that Mortgagor will warrant and defend the
<br /> title to !Mild promises against the claims of all persons whomsoever.
<br /> To pay immediately when due and payable all general taxes, special taxes. special assessments. water charges. sewer serv-
<br /> r ice charges, mad other taxes and charges against said property . and all taxes levied ort the debt secured hereby, and to furnish the
<br /> Mortgagee. upon request, with the original or duplicate receipts therefor. •Che 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 tlu. Mortgagee
<br /> ( to he sufficient to enable the Mortgagee to pay . as they become due. all taxes. assessments. and similar charges upon the pron .
<br /> r ises subject thereto; any deficiency because of the insutiiciency of such additional payments shall be forthwith deposited by the
<br /> t Mortgagor with the Mortgagee upon demand by the Mortgagee. Any defaultunder this paragraph shall he deemed a default in
<br /> 7 payment of taxes, assessments. or similar charges required hereunder. •
<br /> L - The Mortgagor agrees that there shall also he added to each monthly pavnunt of prineieal .mel interest required here-
<br /> 5 r under an amount estimated by the Mortgagee to be sullicienl to V o•tble the Mortgagee to pay , a, it h. ionu•s due. the insurance
<br /> premium on any insurance policy delivered to the \ lnlgagee. Any deficiency because of the unsullicwnry ill such additional pay -
<br /> p ' meats shall he forthwith deposited by the Mortgagor with the Mortgagor upon demand by the Mortgagee . Any default under this .
<br /> paragraph shall by devoted n default in the payment of insurance premiums . If the policy or pohears deposited are such as home.
<br /> '• • owners or all risk policies. and the deposits are insufficient to pity the entire pr•nuunt • the Motgagee MAY nppiv the dopost to •
<br /> r bray premiums on risks required to be ' ,tsarist by this mortgage.
<br /> Payments made by the Mortgagor under the above
<br /> g paragraphs may , at the . glltnn of the Mortgagee , be lugrl by II and •
<br /> commingled with other such funds or is own funds for the payment cif surh items . and until so applied . etch payments are hereby
<br /> [ ' pledged its security for the unpaid balance of the mortgage tnde• l I dne•+s.
<br /> 'To procure. deliver to. and maintain Ior the he ueht of the Nfortgagev during the life of This mortgage original policies and
<br /> renewals thereof. deliverer( at feast ten days before the expiration of .an such policies. insuring against lire and other insurable
<br /> IF, hazards, casualties, and contingent-1m as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br /> . • ,` Mortgage, and in oimpanies acceptable to the \I rte tgee, soh loss payable clause in favor of and in form acceptable to the Mortga -
<br /> _ • , ' gee In the event any policy is not renewed on or before ten , ins ill its expiration . the Mortgagee may procure insurance on the
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<br /> improvements, pay the premium therefor. and .such sen shall ber: ,me immediately dor ;mil payable Wille interest at the rate set
<br /> rr ; forth in said not,, until paid and shall In ,'cued by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br /> as are herein required or failure to pity any sums advanced hereunder dull . at the option al the Mortgagee. constitute a default
<br /> under the terms of this mortgage. The , leliyrry of such p, diries shall in the event ed default . outshoot- an assignment of the nn
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<br /> canned pre•rnium.
<br /> ( rst Any sums rue ewcsl 6v the \ lorigagee lis reason id loss or danug in ird against may he retained by Ihr \ lorigagee
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<br /> and applaud toward the payment of the dell hereby secured .. or It 11W ( II )tu.Ifl of the \ lorlgag.•e such ems either wholly or in
<br /> �• part may he pad over to the \ lorn:agor to Is used to a pair such buildings Or to build new buildings in their place or fur any
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<br /> other purpose or object satisfactory to the Mortgagee without : Meeting the hen on the rnnrt ,agr tar the full amount secured MOM
<br /> by before sue•h 1141y01001 ever t . ,,k Noce
<br /> t , , , . To promptly repair. restore or rebut Id :rev htuldinc or 10111110•1 1110111 ); mow or hereafter nn Ilue prtnkes whurh may ho •
<br /> t rotor damaged Or destroyed : to keep said premises m c.esul condi Burt and repair and Iree from any mechanic's lien or other ben or
<br /> claiut of lien not expressly subordinated to the lien hereof . not to suffer or permit any unlawful use of or any nuisance to existon
<br /> said property nor to permit waste on stud prenmses. nor to tin Inc other net whereby the property hereby Connived shall hecnrne
<br /> * less valuable. nor to diminish or impair us value by any ail err mission to ad ; to comply with all requirements of law with respect
<br /> y,` to the mortgaged premises and the use Ihereof.
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<br /> That should the premises or any part thereof be taken or damaged by reason of :mc public improvement or condemnation
<br /> proceeding, or under the right of eminent domain. or in any (ober manner, the Mortgagee shall Ise entitled to all compensations.
<br /> awards, and any other payment or relief therefor. and shall be
<br /> I moiled . at its option. to commence . :appear in and prosecute in its
<br /> ..'::' . own name any action or prseedfng . or to make any cumprmnse nr settlement in connection with such taking or damage. All such
<br /> compensation, awards, damages. right of action and proceeds aro hereby assigned to the Mortgagee . who may, alter deducting
<br /> B - therefrom all its expenses. release any moneys so received by it or apply the same on any indebtedness secured hereby . The \fort -
<br /> • gagor agrees to execute such further assignments of ant' compensation . awards. damages. and rights ,. ,i action and pus-redsoreds as the
<br /> _, z; Mortgagee may require.
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<br /> That in case of failure ti perform any of the covenants herein. the Mortgagee may do on the \ lnrlgagur s behalf everything
<br /> so covenanted : that the Mortgagee may also do any act It may deem necessary to protectthe lien thereof; that the Mortgagor will
<br /> repay upon demand any moneys paid or disbursed by the Mortgagor for any of the above purposes. and such moneys together with
<br /> interest thereon at the rate provided in saidnode shall )emus so Meeh additional indebtedness hereby secured and may he in -
<br /> cluded in any decree foreclosing this mortgage and be paid Mil of the rents or proceeds of Mahe of said premises if not otherwise
<br /> paid ; that it shall not be r.hliga(ory upon the Mortgagee to inquire into the •:ability of any lien . encumbrances. or claim in ad ,
<br /> vancing moneys as above authorized , hut nothing herein contained shall Is 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 Moir any personal liability bc:as, of Mur -
<br /> thing U may do or omit to do hemmnder.
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<br /> r.• • • In the event of the default by Mortgagor in the payment of any installment . as required by the Nor set-on -el hereby. or
<br /> - in the performance of the obligation in this mortgage or in the note cured thereby . the \ lorlgagr. shall be entitled to declare the
<br /> debt secured hereby due and payable without notice, and the Mortgagee shall be entitled at its 'phone without notice .e , eithe. r byitself a
<br /> or by a receiver to be appointed by the court thereof. and without regard to the adequacy 1 any s •c•unh• for the indebtedness se • N �, -- <
<br /> cured hereby. to anter 111)011 and take possession of the nt rtg aged premises. and to collect and receive the rents. issues and profits } a
<br /> a L thereof, and apply the same. less costs of operation and collection . upon the i lebtedn. . soured by this mortgage : said rents, C
<br /> Issues and profits being hereby assigned to the Mortgagee as further .security for the payment of all indehtedneas secured hereby
<br /> 440:, Allii.
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<br /> The Mortgagee shall hnyr the power to appoint any agent or agents it may desire for the purpose id repairing said prem
<br /> fres : renting the same; collecting the rents, revenues and income , and it may pay out of said nn -nine all rspetses incurred in tem -
<br /> ing and managing the same and of collecting the rentals there( rum. 'Flo, balance remaining . if any . shall be :applied tnwvarl the -
<br /> discharge of the mortgage indebtedness. This assignment is to terminate and Ismome null and void upon rely :ice of this mortgage.
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