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<br />1 THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR THE PAYMENT OF SUCH
<br />I „ SUM OR SUMS .OF MONEY AS THE MORTGAGEE MAY FROM TIME TO TIME IN THE FUTURE ADVANCE TO THE MORTGAGOR, AND
<br />lY 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 MORTGAGOR FURTHER COVENANTS AND AGREES:r
<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 due and payable all general taxes, special taxes, special assessments, water charges, sewer serv-
<br />ice charges, and other taxes and charges against said property, and all taxes levied on 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 adder] to
<br />each monthly payment required hereunder or under tho evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to be 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 he deemed 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 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 the, Mortgagee. Any deficiency because of the insufficiency of such additional pay-
<br />ments shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this
<br />paragraph shall be deemed a default in the payment of insurance premiums. If the policy 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 Mortgagee, be held by it and
<br />commingled with other such funds or its own ftinds for the payment of such items, and until so applied, such payments are hereby
<br />,'pledged as security for the 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 least ten 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 file `'lortga-
<br />gee. In the event any policy is not renewed on or before ten days of its expiration, the Mortgagee may procure insurance on the
<br />improvements, pay the premium therefor, and such sum shall become immediately flue and payable with interest. at the rate set
<br />forth in said note until paid and shall be secured by this mortgage. Failure on the 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;shalf, in the event of default, constitute an assignment of the un-
<br />earned premium.
<br />Any sums received by the Mortgagee by reason of loss or damage insured against may he retained by the Mortgagee -
<br />and applied ,toward the payment of the debt hereby secured, or, at the option of the 14ortgagec, such sums either wholly or in
<br />part may be paid over to the Mortgagor to be 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 />by before such payment ever tool: place.
<br />To promptly repair, restore or rebuild. any building-,; or improvements now or hereafter on the premises which may he -
<br />come damaged or destroyed to keep said premises in good condition and repair and 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 become
<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 manner, the Mortgagee shall be entitled to all compensations,
<br />awards, and any other payment or relief therefor, and shall he 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, Ali,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 and 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 everything
<br />so covenanted; that the .Mortgagee may also do any act it may deem necessary to protect the lien thereof; that {he 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 secured and may he in -
<br />eluded 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 ad-
<br />vancing moneys as above authorized, but nothing herein contained shall be construed as requiring the. Mortgagee to advance any
<br />• moneys for any such purpose nor to do any act }tereunder; and that Mortgagee shall not incur any personal liability because of ally -
<br />tiling 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 Mortgagee shall be entitled to declare the
<br />debt secured hereby•due 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 the 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 the 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 />Tile 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 />".discharge, of the mortgage indebtedness. This assignment is to terminate and become•.null and Void upon.release of`this mortgage.
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