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THIS MORTGAGEIS-ALSO TO BE` AND CONTINUE , .O,' BE, 'FROM TIME NO TiME, SECURITY FOR THE . PAYMENT OF SUCH
<br />sum 6R 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) PERCENT 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- all(] (]efend the
<br />title to said premises against the claims of all. persons whomsoever.
<br />To pay immediately when dueand payable all general taxes,especial 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 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 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 Nlortgagee. Any default under.this paragraph shall be deemed a default in
<br />payment of taxes, assessments, or similar charges required hereunder.
<br />T}le 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 arc 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 funds for the payment of such items, and until so applied, such payments are hereby
<br />plec( ed 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 the Mortga-
<br />gee. In the event any policy is not renewed on or before ten days of its expiration, tile n e Mortgagee.may procure insurance othe
<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 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 advancedhereunder shall, at the option of the Mortgagee, constitute a default
<br />tinder the terms of this mortgage. Tile 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 insured against may :be retained by the Mortgagee
<br />and applied toward the payment of the debt hereby secured, or, at the option ofd the Mortgagee, such sums either wholly or in
<br />such buildings or to build new buildings in their place or for any
<br />part may be paid over to the Mortgagor to be USMI t0 repair
<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 promptlyrepair, restore or rebuild any buildings or improvements now or hereafter on the premises which may be -
<br />conic 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 properly 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 tiie mortgage(] 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 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 oil 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 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 secured and may be in -
<br />eluded in any decree foreclosing this mortgage and be paid out of the ,rents or proceeds of sale of said premises' it not otherwise
<br />paid; that'it shall not be obligatory upon the Mortgagee to inquire into the validity of any.lien, 'encumbrances, oY 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 anysuch purpose nor to do any act hereunder; and that Mortgagee shall not incur any pgrsonal 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, las 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 />The 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 be applied toward the
<br />discharge 617 the mortgage indebtedness. This assignment is to terminate and become null and void upon release of this mortgage.
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