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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 /> 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 /> t a EXCEED ONE HUNDRED TWENTY (120) PER CENT OF THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br /> TO PROTECT THE SECURITY IN ACCORDANCE WITH THE TERMS OF THIS MORTGAGE.
<br /> THE MORTGAGOR FURTHER COVENANTS AND AGREES :
<br /> \ } That the Mortgagor will pay the indebtedness as hereinbefore provided.
<br /> That . the Mortgagor is the owner of said property in fee simple and hasgood right and lawful authority to sell and
<br /> tconvey the sante and that the same is free mut clear of any lien or encumbrance; and that Mortgagor will warrant and defend the
<br /> r • title to said premises 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 sere-
<br /> ( ice charges, and other taxes and charges against said property , and all taxes levied on the debt secured hereby, and to furnish the
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<br /> Mortgagee, upon request , with the original or duplicate receipts therefor. The Mortgagor agrees that there shall he added to
<br /> II� each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br /> to be sufficient to enable the A•lortgagee to pay , as they become due, all taxes, assessments, and similar charges upon the prem •
<br /> _ ises subject thereto; any deficiency because of the insufficiency of such additional payments shall he forthwith deposited by the
<br /> Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shall he decreed a default in .
<br /> payment of taxes, assessments, or similar charges required hereunder.
<br /> : The Mortgagor agrees that there shall also he added to each monthly payment of principal and interest required herr-
<br /> n:• under an amount estimated by the Mortgagee. to be .sufficient to enable the Mortgagee to par . ;as it becomes due, the insurance
<br /> ' premium on an insurance policy delivered In the Mortgagee,ee Any deficiency because of the invufficaence of such additional y
<br /> Y I r p,, g - •. . pay .
<br /> meats shall be forthwith deposited by the Mortgagor with the Mortgagee upon detnand 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 horse-
<br /> . owners or all risk policies, and the deposits are insufficient to pay the entire premium . the Mortgagee may apply the deposit to
<br /> P pay premiums on risks required to be insured by this mortgage .
<br /> r I'ayments made by the Mortgagor under the above paragraphs may, at the option of the Mortgagee , las 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 /> phrlgexl as security for the unpaid balance of the mortgage indebtedness.
<br /> 6 . To procure, deliver to , and maintain fur the benefit rd the 'tl ,rtgugev (hiring the life of this mortgage original policies and
<br /> E - renewals thereof, delivered at least. ten days before the expiration ,f any such policies . insuring against fire and other insurable
<br /> hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br /> I' n Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the Morten .
<br /> gene. In the event any polity is not renewed on or before ten days of its expiration. the \lurtgagee may procure insurance tin the
<br /> improvements, pay the premium therefor, and such sum .shall hecnme immediately rine and payable with interest al the rate .set
<br /> forth in said note until paid and shall IN Secured in this mortgage. Failure un 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
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<br /> t ander the terms of this mortgage. The delivery of such politic, shah . in the event of default . constitute an assignment of the un-
<br /> earned premium.
<br /> Any sums received by the Mortgagee by reason of inns or damage insured against may he retained by the Mortgagee
<br /> and applied toward the Payment of the debt hereby secured . or. at the option of the Mortgagee. such sums either wholly or in
<br /> ... part may be paid over to the Nlortgagur to be used tie repair such buildings or to build - new buildings in their place or for any
<br /> t-. ';,9 ' other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full amount secured here -
<br /> by before such payment ever took place .
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<br /> - • Til promptly repair- restore or rebuild any building; or improvements now or hereafter on the premises which may U.
<br /> come damaged or destroyed : to keep said premises in good condition and repair and free front any mechanic's lien or other lien or •
<br /> claim of lien not expressly subordinated to the hen hereof , not to suffer or permit :my unlawful use of or any nuisance to exist on •
<br /> ' - said property nor to permit waste on said premises, nor to do ray other act whereby the property hereby conveyed shall become •
<br /> less valuable, nor to diminish or impair its value by any art or omission to act ; to comply with all requirements of law with respect
<br /> to the, mortgaged premises and the use tbrreol .
<br /> tThat should the pre a ses or :+ nv part thereof betaken or damaged by reason of an ; 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.
<br /> awards, and any other payment or relief therefor. and shall he 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 /> 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 numeys so received by it or apply- the same on any indebtedness secured hereby. The Mort -
<br /> gagor agrees to execute such further assignments of any cnmpensatinn, awards, damages . and rights of action and proceeds as the
<br /> Mortgagee may require.
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<br /> That in true of failure to perform any of the covenants herein . the Mortgagee may do on the Mortgagor's behalf everything
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<br /> so covenanted ; that the Mortgagee may also do any act it may deem necessary to protect the lien thereof: that the Mortgagor will
<br /> repay upon demand any moneys paid or disbursed by the Nlurtgager for any of the above purposes. and such moneys together with
<br /> skt I , • interest thereon at the rate provided in said note shall become so much additional indebtedness hereby secured arid may he in .
<br /> eluded in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if nal - athenvite
<br /> paid ; thatit shall not be 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 be construed as requiring the Mortgagee to advance any
<br /> moneys for any such purpose nor to do any art hereunder, and that Mortgagee shall not incur an }• 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 :my installment - as required by the Note secured hereby, or
<br /> 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 herehy due and payable without. notice. and the Mortgagee shall be entitled at its option . without notice. either by itself
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<br /> or by a receiver to be appointee) by the court thereof" and without regard to the adequacy of any security for the indebtedness se- tifin'r '
<br /> cured hereby, to enter upon and take Ix,ssesson of the mortgaged premises, and to collect and receive the rents. issues and profits N f• a"
<br /> thereof, anti apply the same, less costs of operation and collection. upon the indebtedness secured by this mortgage : said rents, 2 t "-
<br /> L issues and profits being hereby assigned to the Mortgagee as further security for the payment of all indebtedness secured hereby , f+" � es
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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 /> ises: renting the same : collecting the rents, revenues and income, anti it may pay out of sand income all expenses incurred in runt-
<br /> ing and managing the same and of collecting the rentals therefrom . The balance remaining, if any, shall be applied toward the
<br /> discharge of the mortgage indebtedness. This assignment is to terminate and became null and void upon release of this mortgage.
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