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THIS MORTGAGE 1S ALSO TO BE AND CONTINUE TO BE, -FROM TIME TO TIME, -SECURITY FOR,THE. PAYMENT OF- SUCH.
<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 $E.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 hasJgood right and lawful authority to sell and 7
<br />convey the same and that the same is free and clear of any lien or encumbrance, and that i\Mortgagirr will warrmtt_and defend the:
<br />title to said premises against the claims of all persons whomsoever. G
<br />To pay immediately when clue and payable all general taxes, special taxes, special as5essnients, water charges, sewer serv-
<br />ice charges, and other taxes and charges against said property, and all taxes levied cin the debt secured hereby, and to furnish the
<br />Mortgagee, upon request, with the original 'or duplicate receipts therefor. The Mcirtgagor 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 the Mortgagee
<br />to be sufficient to enable the Mortgagee to pay, as they become: due, all taxes, ass:ssments, and similar charges upon the prem-
<br />ises.subject thereto; any deficiencv because of the insufficiency oCsuch additional payments shall: be forthwith deposited by the
<br />Mortgagor with the Mortgagee upon demand by. the Mortgagee. Any default Lndcr this paragralrh shall be deemed It default in
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<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 fry the Mortgagee to'he sufficient to enable the Mortgagee to pay, as it becomes clue, 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 r'vlortgagee. 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 fluids or its own funds for the payment of such items, in(] until so aplilied, 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 tit s mortgage original policies and1.
<br />renewals thereof, deliverer) 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 the Mortga-
<br />gee. In the event anj 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. immecliately clue 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 shall, 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 insurt;,,d against may be retained by, the AMortgagee
<br />and applied toward the payment of the debt hereby secured, or; at the option cif ,the Mortgagee, such sums either wholly or in
<br />part may he paid over to the Mortgagor to he used to repair such buildings or to ,huild'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 tile full amount secured here-
<br />by before such payment ever took place. °
<br />To promptly repair, restore or rebuild any building's or improvements it or hereafter on the premises which may be-.
<br />conic damaged or destroyed: to keep saict premises in good condition and repair aril free frorn any mechanic's lien or other lien or
<br />claim of lien not expressly subordinated to the lien hereof; not to stiffer or permit. ruiy 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 be entitled. at its option, to commence, appear in and prosecute in its
<br />own narne 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 oi it any indebtedness secured hereby. The ,Nfort-
<br />gag6r 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 t.be 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 adlitional� 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 hereunder; and that Mortgagee shaWnot incur any personal liability because of anv-
<br />thing it may do or omit to do hereunder.
<br />In the event of the default by Mortgagor in the payment of any installuiuent, 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 tocollect 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 />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 tike same collecting the rents, revenues and income, and it may payout of said income all expenses incurred in rent-
<br />ing and managing tike 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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