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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 iO TIME IMTHE 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 MAYBE MADE
<br />TO PROTECT THE SECURITY • IN ACCORDANCE WITH THE TERMS OF THIS MORTGAGE.
<br />\ a THE MORTGAGOR FURTHER COVENANTS ANDI AGREES:
<br />vv 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 incl
<br />convey the same and that the same is free and clear of -any lien or encumbrance; and r that Mortgagowill warrant and defend the
<br />title to said premises against the claims of, all persons whomsoever..
<br />To pay immediately when clue and payahle 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,he 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: he forthwith deposited by the
<br />Mortgagor with the Mortgagee upon dernand 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 he added to each monthly payment of principal and interest required here-
<br />under an, -amount estimated by the Mortgagee to be'sufiicient 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 tine 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, lie 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 \4ortgagee during the life of this mortgage original policies and
<br />renewals thereof, delivered at least ten days before file 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 i\Qoriga=
<br />gee. In the event any policy is not -renewer) on or before ten clays of its'expiraticin, the Mortgagee may procure insurance on the
<br />improvements, pay 'the premium therefor, and such sum shall became 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 he 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 tiie.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 he=
<br />come damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic's lien fir 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 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 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 />kJortgagee may require.
<br />That in case of failure to perform any,of the covenants herein, the \4ortgagee may do on the Mortgagor's behalf ev;•rything
<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 inc lebtedness hereby secured and may he 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 performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall he 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 />issties and profits being hereby assigned to the Mortgagee as further security for the payment, of all indebtedness secured hereby.
<br />The Mortgagee shall have tine 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 managirig 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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