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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 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 />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 cjear 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 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 "Mortgagor agrees thatthere, shall be added to
<br />each monthly payment requiredhereunder or under the evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to be sufficient to"enable the Mortgagee to pavi: as they .become clue, all taxes, assessments, and similar charges, upon the prem.
<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 14ortgagee. Any defaultimder this paragraph shall he deemed a default in
<br />payment of taxes, assessments, or similar charges required hereunder.
<br />'Phe 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 the Mortgagee to pay, as it becomes glue,' the insurance
<br />premium on any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such.acdditional pay-
<br />ments shall be forthwith deposited by the. Mortgagor with the Mortgagee upon demand by file Mortgagee. Any default under this
<br />paragraph shall be deemed a default in the payment of insurance premiums. If ,the policy or policies deliosited' are' such as home-
<br />owners or all risk policies, and the deposits are insu(&cient to pay the entire premium, • the i�4<�rtgagee may apply the (let)osit 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, he held hy: it 'and
<br />'commingled with other such full(]-, or its own funds for the payment of such items, and until so applied, such ,payments arc 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 iMortga-
<br />_gee. In the event any policy is not renewed on' or before ten clays of its expiration, the Mortgagee may pro cure insurance on the
<br />improvements, pay, the premium therefor, and such sura shall become immediately due and payable with interest. gat the rate set
<br />forth in said notc."Until paid and shall be securecl by this mortgage. Failure on the part. of the Mortgagor to furnish suchlrenewals
<br />as are herein required or failure to pay any sums.advarlced hereunder shall, at the option of the Rlortgagee, constitute a default
<br />under the terms of this mortgage. The delivery of such policies sliall, in the event of default, constitute all assignment, of theuli-
<br />earned premium.
<br />Any sums received by the Mortgagcc:by reason of loss or damage insured againsC 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 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 any building's 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 anv 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 usa of or any .nuisance to exist cm
<br />said property nor tb perrnit.waste on said premises, nor to dei 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 condeinnation
<br />proceeding, or under the right of eminent domain, or in any other manner, tile' lortgagee shall he entitled to all compensations,
<br />awards, and any other payment or relief therefor, and shall be entitled• at its olition, 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 assignee] to the Nlortgagee. Nvho may,' after deducting
<br />'therefrom all its expenses, release any moneys so. receives] 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 />lvlortgagee 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 so covenanted; that the Mortgagee may also do any act it may '(lee m necessary to protect the lien thereof; that the Mortgagor will
<br />repay upon demand any moneys paid or disbursed by the IN4ortgagee for any of, the above purposes, and such riumirys 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 arproceeds 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 />Li the event of the default by Mortgagor in the liaynient 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 i\4ortgagee shall 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 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 stone, less costs of operation and collection, upon the indebtedness secured ,by this mortgage; said rents,
<br />issues andprofits,t?eing hereby assigned to the Mortgagee as further security for the paymentof 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; senting the same; collecting the rents, revenues and income, and it may pay out of said income all expenses:incurred in•rent-
<br />ing a' r& managing the same and of collecting the rentals therefrom. The balance remaining, if any, shall lie 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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