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<br /> 76, 001198
<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 /> EXCEED ONE HUNDRED TWENTY (120) PER CENT OF THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br /> t } . ' TO PROTECT THE SECURITY IN ACCORDANCE WITH THE TERMS OF THIS MORTGAGE.
<br /> r" THF. MORTGAGOR FURTHER COVENANTS AND AGREES :
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<br /> r� That the Mortgagor will pay the indebtedness as hereinhefore provided.
<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 same is free and clear of any lien or encumbrance: and that Mortgagor will warrant and defend the
<br /> !, title to said premises against the claims of all persons whomsoever.
<br /> f To pay immediately when due and payable all general taxes. special taxes, special assessments. water charges, sewer sere-
<br /> ire charges, and other taxes and charges against said properly , and all taxes levied oil the debt secured hereby, and to furnish the
<br /> i Mortgagee, u(xm request, with the original or duplicate receipts therefor The Mortgagor agrees that there shall he added to
<br /> each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated 1w the Mortgagee
<br /> ..-..e: . to be sufficient to enable the Mortgagee to pay , as they become due, all taxes. assessments, and similar charges upon the prem -
<br /> `• isrs subject thereto; any deficiency because of for insufficiency of such additional imyrnents shall he forthwith deposited by the
<br /> a Mortgagor with the Mortgagee upon demand by the \ Inrigugee. Any default ruder this paragraph shall hr deemed a default in
<br /> payment of taxes, assessments. or similar charges required hereunder.
<br /> The Mortgagor agrees that there shall also hr added t : each monthly payment of principal and interest squired here-
<br /> tinder an amount estimated by the Mortgagee to he sufficient to enable flu. Ntortgagee to pan . as it heroines due, the insurance
<br /> premium on any insurance polio delivered to the \ U rt ,, ages Any deficiency I Imre• of the insufficiency of such additional pay -
<br /> • moots shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br /> paragraph shall he deemed a default in the payment of insurance premiums. If the polie' v or policies ih • posited 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 /> f pay premiums on risks required to he insured by this mortgage .
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<br /> sins " • Payments mesis made by the Mortgagor under the above paragraph. may . at the option of the Mortgagee, be held by it and
<br /> commingled with other such funds m its own moods for the payment of such liens and until so applied . such payments are bunchy
<br /> pledged as security for the unpaid balance of the mortgage indebtedness.
<br /> m Tu procure. deliver to. and nialntain for thy benefit of the Mortgagee during Ih • life of this mortgage original policies anal
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<br /> renewals thereof, delivered at least ten slays before the expirationOf any stabpolicies. 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 /> Mortgage, and in companies aceeptahlo to the Alortgae, r with Ir. .s payable clause in hi :vrof and in form acceptable to the \lortga -
<br /> ger In the event any policy is not renewed on or before ten dews of its e xpiratiun . the Mortgagee may procure insurance on the •
<br /> improvements, pay the premium therefor. and such von shall became immediately dor and payable with interest at the rate set
<br /> m forth in said note until paid and shall he ,ecu red by this mortgage. bailors un the part of the Mortgagor to furnish such renewals
<br /> as are herein required of failure t , pay any stuns advanced hereunder shall. at the option of the Ntortgagee,Mortgagee, constitute a default
<br /> under the terms of this mortgage The delivery O( such policies shall " in the event of default . consultor an assignment nt the un-
<br /> earnel premium.
<br /> Anp suns received by the Mortgagee In ryason ot loss or damage insured against may be retained by rho 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 he paid over to the \1 ortgagor In 144 u .,vi Ul ri . Pair such buildings or to build now buildings in their place or for any
<br /> ohvubrpurpose
<br /> {such payment satisfactory to the Al urlgugre without affecting the hen on the mortgage for the full umo
<br /> uno secured here
<br /> r took place.
<br /> -f0 promptly repair. restore or rebuild any fluildings or improvements now or brre.dter on the ! Man is which may he.
<br /> come damaged or dostnn•esi . to keep said premises in Ittsd condition and repair mad free from any mechanic's lues or other ! len or
<br /> claim of lien not expressly subordinated to the hill hereof: not to suffer or permit any unlawful use of or any nuisance to exist on
<br /> said property nor to permit :caste on said premises . nor to do any other net vol en by the property hereby cunvrvrd shall locums , .
<br /> • - less valuable- nor to diminish or impair its value by any act or omission to act - to comply with all requirement .; of law with respect
<br /> to the mortgaged premises and the use thereof .
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<br /> That should the premises or any part thereof be taken 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 Murigagee shall he entitled to all compensations.
<br /> awards. and any other payment or relief therefor and shall 1w entitled . at its option to comrnence. appear mon and prosecute in its
<br /> own name any action or proceeding. Or to make ally compromise Or settlement in cnnnrctiiom with such taking or damage . All such
<br /> compensation. awards. damages, right of notion and proceeds are hereby assigned to Ow Alortgagee. who may , after deducting
<br /> therefrom all its expenses. release any moneys so received by it or apply the same On any indebtedness securest hereby The Mort -
<br /> �; gagor agrees to execute such further as,ignm nus of any compensation . awards &amazes . and rights of action and proceeds as the
<br /> Mortgagee may require.
<br /> • That in case of failure to perform any of the covenants nants her in 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
<br /> I repay upon demand any moneys paid or disbursed by the Mortgagee for any of the abov • purposes. and such moneys together with
<br /> interest thereon at the rate provided in said note ;hall become so snob additional indebtedness Ines. he r . 1 y secured and may be un
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<br /> eluded in any decree foreclosing this mortgage and be paid out of the rents or proceeds f ode of said promises if not otherwise
<br /> paid ; that it shall nut he oldivatore upon the Mortgagee to inquire into the validity Of any hen . encumbrances , or cairn in ad .
<br /> cnncing moneys as above authorized but nothing herein contained shall In- const curd as requiring the Mortgagee to advance any
<br /> motleys for any such purpose nor to do any act hereunder: and that Mortgagee shall nor 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 n-quire& 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 hereby due and payable without notice. and the Mortgagee shall hem-MUNI at its option . without notice either by itself -
<br /> or by a receiver to be appointed by the court thereof, and without regard to the adequacy Of any security for the indebtedness sr- ,/ •y,r
<br /> cured hereby, to enter upon and take possession of the mortgaged premises . and to collect and receive the rents. issues and profits ;Cr.,'
<br /> thereof, and apply the same, less costs of operation and collection. upon the indebtedness secured by this mortgage: said rents.
<br /> issues and profits being hereby assigned to the Mortgagee as further serurity for the pavme nt of all indebtedness seemed her.•by , i
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<br /> r, The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing -aid prem "
<br /> ices: renting the same: collecting the rents. revenues and income and it may pay Out of said income all expenses n: •s incurred in rent -
<br /> ing and managing the same and of collecting the rentals Therefrom The balance remaining , if :my . . hall be .applied toward the
<br /> discharge of the mortgage indebtedness This assignment is to terminate and become null and void hl ea, release of this mortgage.
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