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<br />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.SHBE 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 SECURITYIN 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 }vlortgagor, will warrant. and defend the
<br />title to said premises- against the claims of all persons whomsoever. ;
<br />To pay immecliately when clue and payable all general taxes, special taxes, special assessments, water char{ es, 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 M6rtgagor agrees that there shall he added io
<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
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<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 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 he sufficient to enable the Mortgagee to pay. as it becomes dile; 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 iVlortgagcc. 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 ho.int -
<br />owners or all risk policies, and the deposits are insufficient to pay the entire premium, the Mortgagee may ap�ply 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 anil
<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 Nlortga-
<br />gee. In the event any policy is not renewerF on or liefore ten days of its expiration, the Mortgagee may procure insurance on the
<br />improvements, pay the premium therefor, and such semi -,hall become immediately due and payable with interest, tit. the rate set
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<br />forth in said note until paid and shall be secured by this mortgage. Failure on the part of the \4ortgagor 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 deL•unit
<br />under the terms of this mortgage. The delivery of such policies shall, in tile a
<br />e event of default, constitute n assignment (if the uri-
<br />earned premium.
<br />Any sums received by the Mortgagee by reason of loss or damage insured against may lie retained by the Mortgagc>c
<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:he used to repair such buildings or to build'new buildings in their piace.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 :illy building -s or improvements now or hereafter on the premiseswhich may be-
<br />come damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic's lien:irr 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 beconye
<br />less valuable, nor to diminish or impair its value hy.any act or omission to -let: to comply with all requirements of .la+v with respect
<br />to the mortgagecl 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 condemnatihn
<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 />y action or proceeding, or to ma
<br />own name an 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-b3".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 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 inclebtedness hereby secured and may lm 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 sliall 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 performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall he entiticd to declare the
<br />debt secured hereby clue 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 I>_ossession 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 he 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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