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THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM TIME TO TIME, .SECURITY FOR THE PAYMENT OF SUCH
<br />O� 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 />v 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 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 />To pay immediately when clue and payable all general taxes, special taxes,special assessments, water charges, sewer sety-
<br />ice charges, and other taxes ,incl charges against said property, and all taxes levier) oro the debt secured hereby, and to furnish the
<br />Mortgagee, upon request, with, the original or duplicate receipts therefor. The Mortgagor agrees that there shall be added to
<br />each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated by file Mortgagee
<br />to be sufficient 'to enable the Mortgagee to pay,' as they become due, all taxes. assessments, and similar charges upon the prem -
<br />ices 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 ander this paragraph shall bedeenned 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 here-
<br />under an amount estimated by the Mortgagee to be sufficientto enable the Mortgagee to pay, as it becomes due, the insuevnce
<br />premium on any insurance policy delivered to the Mortgagee. Any deficiency because of 'the insufficiency of such additional pay
<br />mems shall be forthwith deposited by the \Mortgagor with file Mortgagee upon demand by the Mortgagee. Any default under this
<br />paragraph shall be deemed a default in the payment. of insurance premiums. If file policy or policies deposited are such as liome-
<br />owners or all risk policies, and the deposits are insufficient to pay the entire premium, the Mortgagee may apply the deposit to
<br />pay premiums on risks required to be insured by this mortgage.
<br />Payments made by the Mortgagor under the above paragraphs may, at the option of the Mortgagee, be 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 :ire hereby
<br />pledged as security for the unpaid balance of the mortgage indebtedness.
<br />To procure, deliver to, and maintain for the henefit. of the Mortgagee during the life of this mortgage original policies and
<br />renewals thereof, delivered at least tell clays before the expiration of 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 />Mortgage, and in companies acceptable to the Mortgagee, with loss payable clause in favor of and in form acceptable to the Mortga-
<br />gee. In the event any policy is not renewed on or before ten clays of'its expiration, the• Mortgagee may procure insurance on the
<br />improvements, pay the premium therefor, and such sum shall become immediately clue and payable with interest atthe rate set
<br />forth in said note until paid and shall be secured by this mortgage. Failure on the hart. of the Mortgagor to furnishsuch renewals
<br />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, constitcite an assignment of the un-
<br />earned premium.
<br />Anv sums received by the Mortgagee by reason of loss or damage insured against may be retained by the Mortgagee
<br />and applied toward tho payment of the debt hereby secured, or, at the option of the Mortgagee, such sums either wholly or in
<br />part may lie paid over to the Mortgagor to be used to repair such buildings or to build new buildings in their place or for anv
<br />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 tool: place.
<br />'ro promptly repair, restore or rebuild any building's or improvements now or hereafter on the premises which maty be-
<br />come damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic's lien or other lienor
<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 on
<br />said property nor, to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shall become
<br />less valuable, nor to diminish or impair its value by any act or ornission to act; to comply with all requirements of law Nvith raspect
<br />to the mortgaged premises and the use thereof.
<br />That should the premises or any part. thereof be taken or damaged by reason of anv 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 be 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 clamage. 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 on any indebtedness secured hereby. The Mort-
<br />gagor agrees to execute such further assignments of any compensation, awards, damages, and rights of action in(] proceeds as the
<br />Mortgagee may require.
<br />That in case of failure to perform any of the covenants herein, the Mortgagee may do on the Mortgagor's behalf everN'thing
<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 Mortgagee for any of the above purposes, and such moneys together with
<br />interest thereon at the rate provided in said note shall become so much additional indebtedness hereby securer) and may be in -
<br />chided in any decree foreclosing this mortgage and be paid out of the rents or proceeds of sale of said premises if not otherwise
<br />paid; that it shall not be obligatory upon the Njortgagee to inquire into the validity of any lien, encumbrances, or claim in ad-
<br />vancing moneys as above authorized, but nothing herein container) shall he construed as requiring the Mortgaged to advance any
<br />moneys for any such purpose nor to do any act. hereunder; and that. Mortgagee shall not.incur any personal liability heenuse 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 required by the Note secured hereby, or
<br />in the *performance of the obligation in this mortgage or in the note secured thereby, the Nfortgagee shall he entitled to declare the
<br />debt secured hereby due aitcl payable without notice, and the Mortgagee shall be entitled 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 se-
<br />cured herehy, to enter upon and take possession of the mortgaged premises, and to collect and receive the rents, issues and profits
<br />thereof, and apply, the same, le." 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 security for the payment of all indebtedness secured hereby.
<br />11, fit, Mortgagee shall have the power to appoint any agent or.agents it may desire for the purpose of repairing said' prem -
<br />ices; renting the same; collecting the rents, revenues and income, and it may pay out of said income all expenses incurred in rent-
<br />ing and managing the same and of collecting the rentals therefrom. The balance remaining, if any, shall he applied toward the
<br />discharge of the mortgage indebtedness.. This assignment is. to terminate.and Become null and void upon release of this mortgage.
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