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THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, :FROM .TIME TO -TIME, SECURITY FOR T}iE.PAYMENT OF -SUCH
<br />S
<br />SUM OR SUMOF MONEY AS THE MORTGAGEE MAY FRO M:'TIME1 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 />v' THIS MORTGAGOR FURTHER COVENANTS AND AGREES:
<br />Thnt the Mortgagor will pay the indebtedness as hereinhefore provided.
<br />That the Mortgagor is the owner of said property in fee simple and has; goo({ 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 defe.ncd the
<br />title: to said premises against the claims of all persons whomsoever.
<br />ro pay immediately when due and payable all general taxes, special taxes,'special assessments, water charges,'sewer sere- .
<br />ice charges, and other. taxes and charges against said property, and all taxes levied bri 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 he added to
<br />each monthly payment, required hereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to he sufficient to enable the Mortgagee to pay, as" they become clue, all taxes, assessments, -and similar charges upon the prem-
<br />ises 'subject thereto; any deficiency because of the insufficiency of such additional payments, shall be forthwith deposited by the`
<br />Mortgagor with the Mortgagee upon demand by. the Mortgagee. Any default under this paragraph shall hn
<br />e deemed a default i
<br />payment of taxes, assessments, or similar charges required hereunder.
<br />j The Mortgagor. agrees that there shall also be added to each monthly payment of principal and interest, required here-
<br />under an amount estimated by the Mortgagee to"be sufficient to enable the Mortgagee to pay, as it becomes due, the insurance
<br />premium on any insurance policy delivered to tine Mortgagee. Any deficiency because of the insufficiency of such additional pay
<br />aunts shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by tile Mortgagee. Any default Linder this
<br />paragralih shall be deeMed a default in the payment of insurance premiums. If the 'piilicy or policies deposited 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 />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 1Tortgagee, be held by it and
<br />commingled with other -such funds or its own funds for the payment of such items, and until sin applied, such. payments are hereby
<br />pledged as security for this unpaid balance of the mortgage indebtedness.
<br />To procure, deliver to, and maintain for the benefit of. the Mortgagee during the life of this mortgage original policies and
<br />renewals thereof, delivered at leasttellnays before the expiration of any such policies, insuring against. fire and'.other insurahle:
<br />hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this.
<br />Mortgage, and in compmies acceptable to the Mortgagee, -with loss payable clause in favor of and in form acceptable to the 1lortga-
<br />gee. In the event any policy,is not renewed on or before ten clays of its expiration:_the,1 6rtgagee may procure insurance on the
<br />improvements, pay fife premidin therefor, ancd'such sum shall become :immediately. ,clue and p iyable %vith:cinterest. of the rite set
<br />forth in said note until paid and shall be secured by this mortgage. Failure on file part of the Mortgagor to furnish such 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, constitute an assignment of the un-:
<br />earned premium. I'
<br />Any sums received by the Mortgagee byreasonof loss.or damage insured against may he retained by, the 14ortgagce,
<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 be paid over to the Mortgagor to be used to repair such buildings or to builcl•ne%v 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 />by before such payment ever took place.
<br />To promptly repair, restore or rebuild any buildings or improvements now or hereafter on the premises which may he-,
<br />conic damaged or destroyed; to keep said premises in good condition and repair aiid free from any mechanic'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 on
<br />said property nor to permit waste on said premises, nor to do any other act whereby the property hereby conveyed shall hecome
<br />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 />to the mortgaged premises and the use thereof.
<br />That should the premises or any part thereof be taken or damaged by reason of any public improvement or condemnation
<br />proceeding, or under the right of eminent domain, or in any other mariner, the Mortgagee shall lie entiilecI 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 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 on any indebtedness secured hereby. 'File Mort-
<br />gagor agrees to execute such further assignments of any compensation, awards, damages, and rights of action and proceeds as the
<br />Mortgagee may require.
<br />That. in case of failure to perform any of the covenants herein, the Mortgagee may (lo on the Mortgagor's behalf everything
<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 disburse(] 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 secured and may be in-
<br />cluded 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 Mortgagee to inquire into the validity of any lien,, encumbrances, or claim in act
<br />vancing moneys as above authorized, but nothing herein contained shall be construed as requiring the 14ortgagce to advance any
<br />moneys for any such purpose nor to do any act hereunder; and that Mortgagee shall not. 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 required by the Note secured hereby, or
<br />in the performance of the obligation in this mortgage or in the note secured thereby, the 14ortgagee shall he entitled -to declare the
<br />debt secured hereby duce and 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 t{Le court thereof, and without regard to the adequacy of any security for the indebtedness se-
<br />cured hereby, to enter upon and take possession of the mortgaged premises, and to collect and receive the rents, issues and profits
<br />thereof, and apply tine 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 security for the payment of all indebtedness secured hereby.
<br />The Mortgagee shall have the power to appoint any agent or agents it may desire for the purpose of repairing said prem-
<br />ises; 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 be applied toward the
<br />debtedness. This assignment is to terminate and become null and void upon release of this mortgage.
<br />discharge of the mortgage. in
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