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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 />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 BE MADE
<br />Q 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-inclehtedness 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 Nvarrant, 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 sere -
<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 added to
<br />:each monthly payment required hereunder or under the 'evidence of debt secured hereby an amount estimate(] by the Mortgagee
<br />Jo be sufficient to enable the •Mortgagee .to pay, as they became clue, all taxes, assessments; and similar charges upon the prem -
<br />ices 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 Nlortgagee. Any default -under this paragraph shall be 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 paymentof 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. 11ny 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 ithe option of the Nfortgagee, he held by it. and
<br />commingled with other such funds or its own fonds 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 ]east ten clays before the expiration of any such policies, insuring against fire and Ether 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 acceptal>le"to the Mortga-
<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 due and payable with interest -at the rate set
<br />forth in said note until paid and shall be securcil 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 i\lortgagee,:constitute a default
<br />under the terms of this mortgage. The delivery of such policies shall, in the event of default, constitute an assignnient 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 ,\lortgagee
<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 he 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 amocint secured here-
<br />by before such payment ever took place.
<br />To promptly repair, restore or rebuild any building-,; or improvements no%e or hereafter on the premises which may be -
<br />conic damaged or destroyed; to ]seep said premises in good condition and repair and free from any mechanic's lien or other lien or
<br />claim of lien noexpressly subordinated to the lien hereof, nota to suffer or permit any unlawful use of or any nuisance to exist on
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<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 Kcspect
<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 he entitled to >all compensations,
<br />awards, and any other payment or relief theref6r, 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. 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 receives] by.it or apply the same on any indebtedness secured hereby. 'I'll(! Mort-
<br />gagor agrees to execute such further assignment~ of any compensation, awards, damages, in(] rights of action anis 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 clo 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 1'lortgagee for any of the above purposes, and such .moni>ys together with
<br />interest thereon at the rate provided in said note shall become so much additional indebtedness hrrehy securecl and may he 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. odlenvise
<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 he construed as requiring the \Mortgagee to advance any
<br />moneys for any such purpose nor to do any act. hereunder; and that Mortgagee shall not incur any personal liability hecause 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 />iii 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.appoinfecd 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 sarne,1ess costs of operation and collection, upon the indebtedness secured by -this mortgage: said rents,
<br />issues and profits'heing hereby assigned to the Mortgagee as further security for the paymentof 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 ati d 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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