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THIS MORTGAGE IS ALSO TO BE, AND CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR THE
<br />PAYMENT OF • SUCH SUM OR SUMS OF MONEY AS THE MORTGAGEE MAY FROM TIME TO TIME IN . THE
<br />FUTURE ADVANCE TO THE MORTGAGOR, AND EVIDENCED BY A SUPPLEMENTAL NOTE OR NOTES, BUT
<br />NOT TO EXCEED-THE TOTAL OF $....6,349..44 ••......•..* . * .. EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br />TO PROTECT THE SECURITY IN ACCRDANCE WITH THE TERMS OF THIS MORTGAGE.
<br />VVI 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 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 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, 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 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 payment of principal and interest required here-
<br />under an amount estimated by;tfie Mortgagee to be sufficient to enable the Mortgagee to pay, .as it becomesdue, the insurance
<br />premium on any insurance policy deliveredto 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 depositto
<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 />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 days 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, 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 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 insured against may be retained by the Mortgagee
<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 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 took place.
<br />To promptly repair, restore or rebuild-any buildings or improvements now or hereafter on the premises which may
<br />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 td 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 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. 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 />Thatin 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 becomeso much additional indebtednessherebysecured .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 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 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•performame 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, Jess 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,sha11 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'rnortgage.indebtedness. This assignment is to terminate. andbecome null and void upon release of this mortgage.
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