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THIS MORTGAGE IS ALSO TO BE AND CONTINUE,,. TO BE,, FROM= TIME TO TIME, SECURITY, F,OR 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 />SUM
<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 MAY BHUNDRED-TWENTY
<br />E, 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 Nlokgagor is the owner of said property in fee simple and has good right and LrwCul 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 imu&Iiately when clue and payable all general taxes,�special taxes,'speeial assessments, water charges; se+vcr serv-
<br />ice charges, and other fazes and charges against said property, and all taxes levied' on the debt secured hereby, anti to furnish ill(!
<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 t. hareby an amount estimated by the Mortgagee
<br />to be sufficient to enable the Mortgagee to pay, as they become (tile, 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 forth+vith deposited by the
<br />A'fortgagor with the Mortgagee upon demand by.the Mortgagee. Any (lefault under this paragraph shall he Ocoaled a default in
<br />payment. of lases, 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 ,in amount estimated by the Mortgagee to be sufficient. to enable the Mortgagee to pay, a;..it becomes clue, 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 he forthwith deposited by the Mortgagor with the AMortgagee upon demand bv� the AMortgagee.:Aay default under this
<br />paragraph shall be deemed a default in the payment of insurance premiums. If the policy''or policies deposited :ere such as hane-
<br />owners or all risk policies, and the deposits are insufficient to pay the entire premium, the Nlortgagee may apply.tile deposit to
<br />pay premiums on risks required to be insured by this mortgage.
<br />Payments made by the'Nlorigagor 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 such items, and until so applied, such payments sere here).
<br />pledged as security for the• unpaid balance of the mortgage indebtedness.
<br />To procure,'deliver to, andmaintain for the: benefit. of the Mortgagee (luring the life of this mortga; e original policies an(1'
<br />renewals thereof, delivered at least ten clays before the expiration of ally such policies, insuring against fire and other incur able
<br />hazards, casualties, and continrcncies as the Mortgagee may require, in an amount equal to the indebtedness secured h+ this
<br />Mortgage, and in companies acceptable to the Mortgagee, +lith loss payable clause in favor of and in form accept to the Alortga-:
<br />gee. In the event any policy is not, renewed ort or.],)Jore ten days of its expiration, the Mortgagee may procure insurance on the
<br />improvements, pay the premium therefor, and such.surn shall become immediately due and payable with interest at the rate set
<br />forth in said note until paid and ,hall 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 advancer) hereunder shall. at the option' of -the Alortgagee, constitute a default
<br />under the terms of this mortgage. The delivery,of such policies shall, in the event of default, constitute aur assignmi.nt of the un-
<br />earned premium.
<br />Any surns'receiveri by the Alortgagee b} reason of loss or damage insurt'(l-against may be retahwil by the 1lortgagec,
<br />and applied toward the payment cif the debt hereby secured, or, at. the option of. ihe Mortgagee, such sums citlun wholly or in
<br />repair such buildings or to build new buildings in their plaice or for airy
<br />part may he paid over to the A'Iorigagor to be used to
<br />other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full arnount secured here-
<br />by before such payment ever took place.
<br />To promptly. repair, restore or rebuild any buildings or improvements now or liereafter on the premises +which may be-
<br />come damaged or destroyed; to keep said premises in good condition and repair and free from any mechanic's lienor other lien or
<br />claim of lien not expressly subordinated to the lien hereof; not. to suffer or permit ilny unlawful use of or any nuisance to exist on
<br />said property nor to permit waste on said premises, nor to do any other ,let. whereby the property hereby conveyed shall become
<br />less valuable, not to diminish or impair its value by any act or omission to act; to comply ++•ith all requirements of law +with respect
<br />to the mortgaged premises and the use thereof.
<br />That shouid.the premises or any part thereof be taken or damaged by reason of any public: improvement sir condemnation
<br />proceeding, or tinder 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 AMortgagce, who may, alter deducting;
<br />therefrom all its expenses, release any moneys so received by it: or apply the same on any indebtedness secure(! hereby. 'I'll(- Mort-
<br />agor 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 AMortgaor•s behalf everything
<br />so covenanted;. that the Mortgagee may.also do any act. it_may deem necessary to 1..rotect. 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 ret the rate provided in said note shall become so much additional indebtedness hereby secured and may be in-
<br />cluded in any decree foreclosing this mortgage and he paid out of the: renis 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, lir 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 securer) hereby, or
<br />in the performance of the obligation in this mortgage or in the note secured thereby, the AMortgagee -11,111 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 fnr 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: swirl 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 />ises; renting the' same; collecting the rents, revenues and income, and it, may payout. of said income all expenses incurred in rent-
<br />ing and managing the sane and of collecting the rentals therefrom. The balance remaining, if any, shall he applied to%%,ard 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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