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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 />i 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 BYTHIS 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 />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 encumlirancet'.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 clue 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 dvidence of debt secured hereby an amount estimated by the Mortgagee
<br />to he sufficient to enable the Mortgagee to pay, a.s 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 />Tile 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 tlit Mortgagee to pay, as it becomes clue, the insurance
<br />I remium 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 sthe.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 io be insured by this mortgage.
<br />Payments made by the Mortgagor under the above paragraphs may, at. the option of. the Mortgagee, he held by it and
<br />commingled with other such funds or its own funds, for the payment of stich 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 (luring 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 clays of its iexpiration, 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 oil 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, cimstitute 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 />carnecl premium.
<br />Any sums received by the Mortgagee by reason of loss or damage insured against may he retained by 'tile Mortgagee
<br />and applied toward the payment of the debthereby 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 />9ther 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 zany buildings or improvements now or hereafter on the premises which may be-
<br />come damaged or destroyed; to keep said premises in good condition ant{ 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 />Tess valuable, nor to diminish or impair its value by any act or omission to 'act; to ((imply 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 damagecl 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 settlementin 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 an(] proceeds as the
<br />Mortgagee may require.
<br />That incase 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; thatAbe 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 thdreon at the rate provided in said note shall become so much additional in(le)teclness 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 he 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 acthereunder; and that Mortgagee shall not incur any personal liability.because of any-
<br />thing it may do or omit to (lo 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 be entitled to declare the
<br />(lebt 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.afipointed 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 />issue,- and profit- 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 alipoint 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 rind. managing the same and of collecting the rentals therefrom. The balance remaining, if any, shall be applied toward the
<br />discharge ;of .the mortgage:indebteclness. This assignment is to terminate.and become null and void upon release of this mortgage.
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