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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) PERCENT 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 Mdrtgagor 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 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 due 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 evidence of debt secured hereby an amount estimated by the Mortgagee
<br />to be 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 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 />The 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 due, the insurance
<br />premium on any insurance policy delivered -to the Mortgagee. Any deficiency because of the insufficiency of such additional pay -
<br />merits shall be forthwith deposited by the Mortgagor with the Mortgagee upon denfand by the Mortgagee. Any default under this
<br />paragraph shall be deemed" a default in the payment of insurance pre.rrkiums. 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 premiuf ' 'the Mortgagee may, apply the deposit to
<br />pay premiums on risks required to be insured by .this mortgage.
<br />Payments made by the iVlortgagor 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 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 Mortga-
<br />gee. In the event any policy is not renewed on or beforeten days of its expiration, 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 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, corustitute 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 Tn
<br />part may be paid over to tile 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 liege -
<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 be-
<br />come damaged or destroyed; to.keep said premises in good condition and 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 />less valuable, nor to diminish or impair its value by any act or omissionto 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 />Mortgagee 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
<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 Mortgagec: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 be 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 he 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 anv-
<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 performancd: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 withou t regard to the adequacy of any security for the indebtedness se-
<br />cured hereby, to enter upon and take possessionof 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 fndebterdness secured by this mortgage; said rents,
<br />issues and profits being hereby. assigned to the Mortgagee as further security for the. payment. of all indebtedness secured her
<br />T'he Mortgagee shall have the power to appoint any agent or'agents it may desire for the purpose ofrepairing said prem-
<br />ises; renting the same; collecting the rents, revenues aird income, and it may pay out of said income all expenses"incurred in•ient-
<br />ing" anal'rnanaging-the samc: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 tq, terminate •arid become 'null and void upon release of this mortgage.
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