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<br /> 4 ` ! i' THIS MORTGAGE, IS . ALSOrTCE: BE AND CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR THE PAYMENT OF SUCH
<br /> ` %. p, 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 sNOTE" OR NOTES, BUT THE- TOTAL - INDEBTEDNESS SECURED . BY THIS MORTGAGE SHALL NOT
<br /> ( .P1 i EXCEED ONE HUNDRED' TWENTY ( 120) PER: CENT OF THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br /> 44 '£ . ' 'PF TO PROTECT THE : SECURITY. IN : ACCORDANCE :WITH ` THE- TERMS OF THIS MORTGAGE.
<br /> ''y r TEM ..) MORTGAGOR •FURTHER . COVENANTS AND AGREES: .
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<br /> tThat • the Mortgagor wil . pay the indebtedness an hereinbefore provided.
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<br /> ' f ' t That the/ Mortgagor, ra• tho owner . of, said property in ;fee simple and has good right and . lawful authority to sell and ,
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<br /> . 4 A, Qonvey the"spme andthat thc, same is free, and elearof any lienor. encumbrance; and . that Mortgagor will warrant and defend the
<br /> 9nb title to said premisei against tho ' claims of : all persona whomsoever, f
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<br /> 44r h O "s �_ Ta PaY =mediately when due and , payable- art general tuxes, special taxes, special assessments, water eharges,)sewer sere,+. "
<br /> a , ice clrarges;'and other tales and charges'
<br /> against spid property, and all taxes levied on. the debt secured hereby, and to:furnish . the
<br /> . � tr : Mortgagee.. pon . request, with the original - or duplicate receipts therefor. ' The. Mortgagor agrees that ! there shall be added; to
<br /> L uyt $ t 7 . each monthly payment required hereunder or under . the evidence of debt secured hereby an amount estimated by the..Mortgagee
<br /> 10 IM suficient . to enable the Mortgagee . tri pay, as they become due, all taxes. assessments, andsimilar-chargesupon the prem-
<br /> 4. i2 -`r . ' Hies subject thereto; any deficiency because of the insufficiency of such additional payments shall be forthwith deposited by the }
<br /> of 1C Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shall be deemed a default in
<br /> �`Yfir( r ? payment of taxes, assessments, or similarcharges required hereunder: 1 r
<br /> i, o tz ,' The Mortgagor agrees that there shall also Ix: added to each monthly payment of principal and interest required her& -
<br /> S under an smount estimated by the Mortgagee to he sufficient to enable the Mortgagee to pay, as it becomes due, the insurance
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<br /> 'Lr f1 I , premium on any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency . of such - additional pay-
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<br /> # t i meats shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br /> ,e4+.1,1, g paragraphshall be deemed a default in the payment of insurance premiums. . If the policy or policies deposited are such as home-
<br /> i owners or all riskIpli•cies, and the deposits are insufficient to pay the entirepremium, the Mortgagee may apply the deposit to
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<br /> pay premiums on risks required to be insured by this mortgage. t
<br /> "fir P - e' + ; Payments made by the Mortgagor under the above paragraphs may. at the option of the Mortgagee, be held by it and .
<br /> `t' £ commingled with ' other such funds or its own funds for the payment of such items, and until so applied, such payments are hereby
<br /> hAdito sLic lilt 4 `4 pledged as security for the unpaid balance of the mortgage indebtedness. . 1. i
<br /> To procure, deliver to, and maintain for the benefit of the Mortgagee during the life of this mortgage original policies and
<br /> tY renewals thereof, delivered at least ten days before the expiration of any such policies, insuring against fire and other iasurnhle.
<br /> _ v( hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br /> 5 'i: ;s - Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the Mortga-
<br /> 4r4 gee. In the event anypolicyis not renewed on or before ten days of its expiration, the Mortgagee may procure insurance on the ,
<br /> +� x� ` improvements, pay the premium therefor. and such sum shall became immediately duo and payable with interest at the rate set. i s.
<br /> `'d ` !.4 forth in said note until paid and shall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals ,�i
<br /> n1' 34. ' as are herein required or failure to pay any sums advanced hereunder shall, at the option of the Mortgagee, constitute a default
<br /> - under the terms of this mortgage. The delivery of such policies shall, in the event of default, constitute an assignment of the un• 4 -A,14
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<br /> l'I1Fn s earneelpremium.
<br /> 7r1 Any sums received by the Mortgagee by reason of loss or damage insured against may be retained by the Mortgagee'
<br /> f s r . 4 and applied toward the payment of . the debt hereby secured, or, at the option of the Mortgagee, such sums either wholly or in
<br /> tZ part may he paid overto the Mortgagor to ix' used to repair such buildings or to build ' new buildings in their place or for any
<br /> other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full amount secured here-
<br /> fitcilitit.:i, ..y.- . 1', . by before such paymentever took place.
<br /> To promptlyrepair. restore or rebuild any building.-s or improvements now or hereafter on the premises which may be
<br /> come damaged or destroyed ; to keep said premises in good condition and repair and free from anymechanic'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 on1,114
<br /> saidproperty nor to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shall become
<br /> n s.f 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
<br /> y j� to . the mortgaged premises and the use thereof.
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<br /> i • ; That should the premises or any part thereof be taken or damaged by reason of any public improvement or condemnation .
<br /> ILI J proceeding, or . under the right of eminent domain, or in any other manner, the Mortgagee shall he entitled to all compensations,
<br /> is f - • awards, and any . other payment or relief therefor. and shall he entitled, at its option, to commence, appear in and prosecute in its
<br /> x c . 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 moneys so received by it or apply the same un any indebtedness secured hereby. 7 he Mort -
<br /> .c• - gagor agrees to execute such further assignments of any compensation, awards, damages, and rights of action rind proceeds as the
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<br /> ++ n : ;I Mortgageemayrequire.
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<br /> 41 ` Thnt. in ease of failure to perform any of the covenants herein, the Mortgagee may do on the Mortgagor's behalf everything
<br /> r,. �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" fI : repay upon demand an moneys or disbursed by the Mortgagee for of the above and such moneys together with
<br /> " DY - p Y Y paidany purposes. Y g
<br /> 40 .1.1 i" interest . thereon at the rate provided in said note shall become so much additional indebtedness hereby secured and may be in•
<br /> teluded in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if not vtherwise
<br /> est + f ' : paid; that it shall notbeobligatory . upon the Mortgagee to inquire into the validity of any lien, encumbrances. or claim in ad-
<br /> vencing moneys as above authorized, hut nothing herein contained shall Ise construed as requiring the Mortgagee to advance any
<br /> ;;E,..) „ ,{r`` ; , moneys for any such purpose nor to do any act hereunder; and that Mortgagee shall not incur any personal liability because of aity-
<br /> ra4 thing it may do Gromit to do hereunder.
<br /> j i In the event of the default by Mortgagor in the payment of any installment, as required by the Note secured hereby, or y! : X • ,4
<br /> in the performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall be entitled to declare the
<br /> ;rkt res %, ' debt secured hereby due and payable without notice, and the Mortgagee shall he entitled at its option, without notice- either by itself
<br /> t s -I% - or by a receiver to be appointed by the court thereof, and without regard to the adequacy of any security (or the indebtedness se• t r • rs
<br /> �s k "'6t1 • - . cured hereby; to enter: upon and take. possession of the mortgaged premises, and to collect and receive the rents, issues and profits f tt f,
<br /> 1. ,, thereof, and 'apply - the same: less costs of operation and collection, upon the indebtedness secured by this mortgage; said rents, at ^
<br /> I+ issues and profits being hereby assigned to the Mortgagee as further security for the payment of all indebtedness secured herehy. n �
<br /> * k • The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said prem• '
<br /> lcisss >o ises; renting thesame; collecting the rents, revenues and income, and it may pay out of said income all expenses incurred in rent- a
<br /> a C ing and managing . the same and of collecting the rentals therefrom. The balance remaining, if any, shall be applied toward the
<br /> :' ; .Viii.,`'.': :"',..-: discharge of the mortgage . indebtedness. This assignment is to terminate and become null and void upon release of this mortgage.
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