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b. :
<br /> THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO 8E, 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 /> 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 MORTGAGOfl FURTHER COVENANTS AND AGREES :
<br /> That the Mortgagor will pay the indebtedness as hereinbefore provided .
<br /> iThat the Mortgagor is the owner of said propertyinfee simpie and has -good right and lawful authority to sell and
<br /> convey the some 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 ail persons whomsoever. .
<br /> To flay immediatelywhen due and payable all general taxers. special taxes. spacial assessments. water charges. sewer sere-
<br /> ice dharges and other taxes and charges against said property, and all taxes levied on the debtsecured hereby , and to furnish the
<br /> Mortgagee, upon request. with theoriginalor duplicate receipts therefor. The Mortgagor agrees That there shall be added. to
<br /> • eachmonthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br /> to be sufficient to enable the Mortgagee to pay, as the) become clue. MI taxes. assessments. and similar charges upon the prem-
<br /> ises subject thereto; any deficiency because of the insufficiency of such additional payments .hail he forthwith deposited by the
<br /> Mortgagor c rh the Mortgagee upon demand by the Mortgagee. Any default under this paragraph .shall be deer-nett a default in
<br /> payment of taxes, assessments or similar charges required hereunder
<br /> The Mortgagor agrees that there shall also be added to each mr,nthlg payment of principal anti interest required here- -
<br /> under an amount estimated by the Mortgagee to he sufficient to rnabfe it e Mortgagee. to pay as it hreomes , isle ( he insurance '
<br /> premium nn any insurance policy delivered to the Mortgagee . Arty deli ,, nc•y because of the rifielene d such additional pay
<br /> merits shall he forthwith deposited by the Mortgagor with the Mortgagee upon demand by t n : s1r rt%a a Any default under this
<br /> paragraph shall he deemed a default, in the payment of insurance premiums li the e pulley• or poncit•s is I. sited are such as home-
<br /> owners nr all risk politaca. and the deposits are insufficient to tiny the entire nrcrd! urn the Mortgagee may apply the deposit to
<br /> pay premiums on risks required to be insured by this 'mortgage -
<br /> Payment.; made by the VI ( rlragor under the above paragraph may at ( hioption of the \1 rrtat be Aid In ; t and -
<br /> commingled with other such funds or its own funds for the payment of such item and Hotel en applie t . such paame nts are hereby
<br /> pledged as security for The unpaid balance of the mnrt::age indebtedness.
<br /> To procure. deliver to. and maintain for the benefit of the Mortgagee during the life of Ihi, mortgage. original polities and
<br /> renewals thereof, delivered at least ten days before the expiration of any such policies. insuring against lire and raker 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 acceptable to the Mortgagee, with loss payable clause in favor of and in inrm acceptableto she Morlga .
<br /> gee. In . the event any policy is not renewed on e r before sen days of Its (spired m . the Mortgagee inn procure insurance on the
<br /> improvements. pay the premium therefor. and such cum shall became immothatety due and payable with interest at the rale it
<br /> forth in saidnote until paid and shall he secured r - this mortgage. F 01111er on the part of the Mt '.rnga r In turnl t III.ICh r<•nrwads
<br /> as are herein required or failure to pay any sums advanced hereunder .hallat the option of thr Mon { ager. COn•t , Iutu a default
<br /> under the terms of this mortgage. The driver% ni such policies shall . in the event of default . ennstii nh an acct gnmenr n1 the lin
<br /> named premium.
<br /> Any .,tuts rerr'•n•err by the Mortgagee by reav+r, oi lies or damage insured against may be retained by the M ttgagee "
<br /> . . and applied toward the payment of the debt herrbs secured: or, rd the .,poser. of the Mortgagee. such saes either :Crony or in
<br /> part may he paid over b• the Mortgagor to he owl to repair ,ugh baildings rir in hndd riga h:niiiira .n their herr- in for any
<br /> other irurfose or object satisfannrp to the Mot gagee• wnthroat allot-stung. the lien • n the mortgage for the ! oil amount ,era red lirre
<br /> by before stub pae-mrnt ever tcR,k Ilam.
<br /> T:i promptly repair , restore:• of re•buiii u .icu .ig i: r improvements .,ow ar h, matter on the premises whu:h mai- be .
<br /> come damagrxi or first royrvi r, keep said premise. . in gas WI Bondi lien and repair :incl free from enc r deism( lir n :II other Tien or „r-
<br /> claim of lien not expressly sti hinlinated to the lien hereof : nor to �u (h r or u. : r T I area unlink-nil few of or any nuisance to 1-1, 16•1 nn `-
<br /> said property nor to permit waste on said premise,- nor t : : in acv est her art whereby the property hr-rehy, conveyed shah become
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<br /> less valuable, nor to diminish or impair irs value by any act or omission to act to cempiv with ail renuiremrnts et law with respect
<br /> to the mortgaged premises and the use thereof . •
<br /> That should the prcmivs or any part thereof he taken or damageri b. reason of ore.v linlilie nip rreemrnt or rnndeumat inn
<br /> pnyee ding. or under the right of eminent domain . or in any other manner. the Morreagee shall h• Int iIr<i to all s:mpensations, •
<br /> award-. and any other payment ,.r relief therefor and ,hall 1entitled . at - t s optt n . to e mmen r appear in and. pnnm•oec in its
<br /> own name any action or prclrrding a to make am- cum r nsr or s settlement r connection with such taking • .r damage. 1n such
<br /> compensation, awards. damages. right of action and proceeds fire hereby assigned to The \1nrigager who may , after deducting
<br /> therefrom all its expenses. release any moneys so received by it r apply- the same on any indebtedness secured hereto . Thr Mort -
<br /> . gager agrees to execute such further assignments of any sump ensatu :n , awards. 'iamazes. and rights f adorer, and proceed as the
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<br /> Mmlgagee may require .
<br /> That in case of failure to perform any nt the covenants herein. the Mortgagee may do on the Mhartgagor's behalf :•yen thing •
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<br /> sit covenanted : that the NIortragee may also din any run it may deem necessary to protectThe lion thereof . that the Merlgacot yviil
<br /> repay upon demand any moneys paid or disbursed by The Mortgagee Mr any of the ahoy purposes and such moneys together with
<br /> interest thereon at the rate provided in said note shall become sen much additional indrbavtness hereby sertirod and mac br in ,
<br /> in am' decree forecbxing this. mortgage and be paid nut of the rents or lin-weeds of sale A said premises if not rt hensIse - -. -
<br /> paid: that it shall net be nhligatory upon the Mortgagee to inquire into the validity of any lien . rnr•urnbrances, or claim in ad -
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<br /> valuing moneys as shove authorized , hut nothing herein contained shall he construed as requiring the Mortgagee to advance any
<br /> moneys for any slush purpose nor to do any act hereunder: and that Mortgagee shall not incur env personal Landils hrrause ni any—
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<br /> thing it may do or omit to do hereunder.
<br /> In the event of the dlefauit by Morthapor in the payment of any installment as required by the Note zeroed hereby, or
<br /> in the performance cd the obligation in This mortgage or in the note secured thereby . The Mortgagee shall la. entitled to declare the
<br /> debt secured hereby due and payable without notice. and the Mortgagee shall he entitled at its optionwithout notice. either Mr itself
<br /> or by a receiver to be appointed by the court thereof. and without regard to the adequacy of any security for the inurhtedness set- 3,t
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<br /> cum! hereby, to enter upon and take 1wnssiecsion of the mortgaged premises and to collect and receive the. rents. issues and profits
<br /> thereof, and applythe same. less costs of operation and collection, upon the indebtedness secured by This me hence : said rents.
<br /> lASttCS and ptoitLe being tin by as igned to the Mortgagee as further security fnr the p ay'ment f All • nde terdr s cured hereby - f t•
<br /> The Mortgagee shall have the power to appoint any agent or agents it mrd desire lid the purpose f repairing airing sstd pnom
<br /> ices: renting the same; collecting the renis. revenues anti in<nnwe . and it may pay out of said looser nil evtionses i rurrei in not .
<br /> ing and managing the same and of collecting the rentals therefrom. The balance remaining. if any , hall he ap pliri toward the a
<br /> dis hams of the mortgage indehtedncss. This assignment IC to I et ninate• and l.reornr n •ill and s :+i. l nein ro;easo r4 this n, rte ace.
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