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b 1 THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR THE PAYMENT OF SUCH SUM OR SUMS OF MONEY AS THE MORTGAGEE MAY FROM TIME TO TIME IN THE FUTURE ADVANCE TO THE MORTGAGOR, AND EVIDENCED BY A SUPPLEMENTAL NOTE OR NOTES, BUT THE TOTAL INDEBTEDNESS SECURED BY THIS MORTGAGE SHALL NOT EXCEED ONE HUNDRED TWENTY (120) PER CENT OF THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE - TO PROTECT . THE SECURITY 1N ACCORDANCE WITH THE TERMS OF THIS MORTGAGE. fTHE MORTGAGOR FURTHER COVENANTS AND AGREES : That the Mortgagor will pay the indebtedness as hereinbefore provided. i That the Mortgagor is the owner of said property in fee simple and has goal right and lawful authority to sell and .; convey the same and that : the some is free and clear of any lienor encumbrance: and that Mortgagor will warrant and defend the q title to said premises against the claims of all persons whomsoever. — . • To pay immediately when due and payable all general taxes, special taxes. special assessments, water charges, sewer sere. Iee charges, and other taxes and charges against said property, and all taxes levied on the debt secured hereby, and to furnish the Mortgagee, . upon request, with the original or duplicate receipts therefor. The Mortgagor agrees that there shall he . added to each . monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee t to he sufficient to enable the Mortgagee to pay, as they become due, all taxes. assessments, and similar charges upon the prom- ; •, ices subject thereto; any deficiency because of the insufficiency of such additional payments shall be forthwith deposited by the . : ' ' 1' :. ..4.:111:'.41;.•r;:.:::?.. Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shall he deemed a default in payment of taxes, assessments. nr similar charges required hereunder. The Mortgagor agrees that there shall also be added to each monthly payment of principal and interest required here • under an amount estimated by the Mortgagee to he sufficient to enable the Mortgagee to pay, as it becomes due , the insurance premium on any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such additional pity- 1 ments shall he forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any defaultunder this paragraph shall be deemed a default in the paymentof insurance premiums. If the policy or policies deposited are such as home- • ' 1 owners or all risk policies, and the deposits are insufficient to pay the entire premium, the Mortgagee may apply the deposit Io pay premiums on risks required to be insured by this mortgage. 1 Payments made by the Mortgagor under the above paragraphs may , at the option of the Mortgagee, he held by it and commingled with other such funds or its own fonds for the payment of such items , and until .se applied , such payments are hereby pledged as security for the unpaid balance of the mortgage indebtedness. j To pmcure, deliver to, and maintain for the benefit of the Mortgagee during the life of this mortgage original Pellotes and .. { renewals thereof, delivered at least fen days before the expiration of any such policies. insuring against fire and other insurable 1 hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this Mortgage, and in companies acceptable to the Morigageo, with loss payable clause in favor of and in form acceptable to the Mortga- a ' gee. In the event any policy is not renewed on or before ten days of its expiration , the Mortgagee may procure insurance nn the improvements, pay the premium therefor, and such sum shall became immediately due and Payable with interest at the rate set iforth in said note until Paid and shall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals �. as are herein required or failure to piny :any soots advanced hereunder shell, at the option of the Mortgagee, constitute a default ,• under the terms of this mortgage. The delivery of such policies shall , in the event of default , constitute an assignment of the ort . . . earned premium. :F Any sums received by the Mortgagee by reason of loss or damage insured against may he retained by the Mortgagee and applied toward the payment of the debt hereby secured. or, at the option of the Mortgagee, such sums either wholly or in $ part may he paid over to the Mortgagor to be used In repair such buildings or to [mild ' new buildings in their place or for any other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full aniouot secured here- by ere by before such payment ever took place. To promptly repair. restore or rebuild any building's or improvements now or hereafter on the premises which may be- come damaged or destroyed : to keep said premises in good condition and repair arid free from any mechanic's lien or other lien or claim of lien not expressly subordinated to the lien hereof; not to suffer or permit any unlawful use of or any nuisance to exist on said property nor to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shall become t' 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 to the mortgaged premises and the use thereof. 'that should the premises or any part thereof be taken or damaged by reason of any public improvement or condemnation I • proceeding. or under the right of eminent domain, or in any other manner. the Mortgagee shall be entitled to all compensations. awards, and any other payment or relief therefor, and shall be entitled , at its option . to commence. appear in and prosecute in its - own name any action or proceeding, or to make any compromise Or settlement in connection with such taking or darnage All such - compensation, awards. damages. right of action and proceeds are hereby assigned to the Mortgagee, who may, after deducting therefrom all its expenses, release any moneys so received by it or apply the same on any indebtedness secured hereby . The \torts gager agrees to execute such further assignrnrnis of any eompens+duun , awards, damages and rights of anion and proceed: as the Mortgagee may nsuire. . That in case of failure to perform any of the covenants herein. the Mortgagee may do on the Nlortgagor•s behalf everything so covenanted: that the Mortgagee may also do any act it may deem necessary to protect the lien thereof: that the Mortgagor will ' repay upon demand any moneys paid or disbursed by the Mortgagee for any of the above purposes, and such moneys together with - interest thereon at the rate provided in said note shall become so much additional indebteriness hereby secured ani may be in- cluded in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if not otherwise paid: that it shall not he obligatory* upon the Mortgagee to inquire into the validity of any lien. encumbrances. or claim in ad- vancing moneys ns above authorized . but nothing herein contained shall be cuetrued as requiring the Mortgagee to advance any ' moneys for any such purpose nor to do any act hereunder ; and that Mortgagee shall not incur any personal liability because of any- thing it may do or omit to do hereunder. In the event of the default by Mortgagor in the payment of any installment . as required by the Note secured hereby. or in the performance of the obligation in this mortgage or in the note secured thereby, the llortgage•e shall be entitled to declare the debt secured hereby due and payable without notice, and the Mortgagee shall he entitled atits option, without notice. either by itself or by a receiver to be appointed by the court thereof. and without regard to the adequacy of any security for the indebtedness se- - • 1 ••.4 4 ' . L. 2 cured hereby, to enter upon and take possession of the mortgaged premises, and to collect and receive the rents, issues and profits thereof, and apply the same, less costs of operation and collection, upon the indebtedness secured by this mortgage : said rents, L issues and profits being hereby assigned to the Mortgagee as further security for the payment of all indebtedness se•tlred hereby . ry • The Mortgagee shall have the power to appoint any agent or agents it may desire for the Purpose of repairing said prem- ices; renting the same: collecting the rents, revenues and income, and it may pay out of said income all expenses incurred in rent- • a .: ing and managing the same and of collecting the rentals therefmm . The balance remaining. if any. shall be applied toward the - discharge of the mortgage indebtedness. This assignment is to terminate and become moll and void upon release of this mortgage. _ _ a .. .