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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 clear of any lien or encumbrance; and that Mortgagor will warrant and defend the
<br />title to said premises against the claims- of all! personswhomsoever.
<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 due, all taxes, assessments, and similar charges upon the prem-
<br />ises subject thereto; any deficiency because of the insufficiency of such additional p5ymenU; shall be forthwith deposited by the
<br />Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shall he 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 iirincipal and interest required here -
<br />tinder an amount estimated by the Mortgagee to -he sufficient to enable the Mortgagee to pay, as it becomes due, the insum-ace
<br />premium 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 premium. If 'the pelicy.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 to be insured by this mortgage.
<br />Payments made by the Mortgagor under the above paragraphs may, at the option of the Mortgagee, beheld 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 clays 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. Li the event 'any policy` is not renewed on or before ten •days cif its expiration, the Mortgagee may procure insurance on the
<br />improvements, pay the premium therefor, and such sum shall become immediately clue 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'sliall, in the event:of default, constitute an assignment of the uin-
<br />earned premium.
<br />Any sums received by the Mortgagee, by reason of loss or damage insured against may he retained by the INIortgagee
<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 builcling-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 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 conclemnation
<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 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 />eluded 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 .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 maydo 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 performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee 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 regarcl to tine adequacy of anysecurityfor. the indebtedness se-
<br />cured hereby, tui 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,.Iess costs ofoperationand collection, upon the indebtedness secured by this mortgage; said rents,
<br />issues and, profits, fneipg hereby assigned to the Mortgagee as further security for the payment of all indebtedness secured hereby.
<br />The Mortgagee' sit at }nave 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 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 he, applied toward the
<br />discharge 'of the .mortgage indebtedness.This assignment is to germinate and becomdc lull and void upon release of this mortgage.
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