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THIS MORTGAGE 1S ALSO TO BE AND CONTINUE TO BE, FROM TIME TO .TIME, SECURITY FOR THE .PAYMENT OF SUCH t
<br />SUM -OR SUMS M 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 ,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 />Tbat the Mortgagor will pay the indebtednes§ 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 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 ,;hall lie added to
<br />each monthly payment required hereunder or under the evidence of debt secured hereby an amount, estimated b.% the 1lortgagee:
<br />to he 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 he forthwith deposited by the
<br />Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shall he deem c ti.•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 aw.annount estimated by the Mortgagee to he sufficient to enable. the Mortgagee to pay, ,,;:it becomes due, the insurance
<br />premium on any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such addition,
<br />p<n-
<br />ments shall he 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 hone
<br />owners or all risk policies, and the deposits are insuf6cicnt 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, 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 bmleGt. of the Mortgagee during the life of this mortgage original policies and
<br />renewals thereof, delivered at least ten days before the expirations 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 comj)anies acceptable to the Mortgagee, with loss payable clause in favor of.and in form acceptable to the Nlortg i
<br />gee. In the event any policy is not renewed on or before ten clays of its expiration, the Mortgagee may procure insurance on the
<br />improvements, pay the premium therefor, and such sum shall become immediately. flue and payable with interest at the rate set
<br />forth in said note until paid and shall he 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 adyanced hereunder shall, at the option of the Mortgagee, constitute a default.
<br />tinder 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 clamage insurer! against may be retained by the \dortgagec
<br />and applied toward, the payment of the clebt hereby secured; or, at the option of the Mortgagee, such sums either wholly or in
<br />part, may he 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 />'ro promptly repair, restore or rebuild any building-,; or. improvements now or hereafter on the premises which may be-
<br />come damaged or destroyed; to keep said premises in good condition arc} 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 />aid premises, nor to do any other act whereby the property hereby conveyer) shall become
<br />said property nor to permit waste on s
<br />less valuable, nor to diminish or impair its value by -any act or omission to act.; to comply with all requirennenis of.la\v 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 eminentdomain, or in any other manner, the Mortgagee shall be entitled to all compensations,
<br />awards, and any other payment or relief therefor, and shall he 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, rightof 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 indeStedness secured hereby.The Mort-
<br />gagor agrees to execute such further assignments of any compensation, awards, damages, and rights of action -and proceeds as tho
<br />fvlortgagee may require.
<br />That in case of failure to perform any of tine covenants herein, the Mortgagee. may do on the Mortgagor's behalf everything
<br />so covenanted; that the Mortgagee may also do aiiy 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 indebtedness 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 othenvi4e
<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 no herein contained shall be construed as requiring the Nlortgagee to advance any
<br />and that A4orlgagee shall not. incur any personal liability because of
<br />moneys for any such purpose nor to do any act hereunder; 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 Nota secured hereby, or
<br />in the performance of the obligation in this mortgage or in tile note secured thereby, the 'Mortgagee shall he entitled to declare the
<br />debt secured hereby due and payable without notice, and the Mortgagee shall he"ent.itled it..its option, withoutnotice, either by itself
<br />or by a receiver to he 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 tho rents, issues and profits
<br />thereof, and. apply t}ie same, less costs of operation and collection, upon the indebtedness secured by this nlortgage; said, rents,
<br />further security for the payment of all indehiechness secured hereby.
<br />issues and profits being hereby assigned to the Mortgagee as
<br />The Mortgagee shall have the power to appoint any agent -or agents if 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 mortgage indebtedness. This assignment is to terminate and become null and void upon release of this mortgage.
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