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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 />SUV 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 hereinbeforeprovided.
<br />That the Mortgagor is the owner of said property in fee simple and has good right'and lawful authority to sell ands
<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 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 that there shall be added to
<br />each monthly payment required hereunder or under'the evidence of debt secured hereby an amount estimated by theiNfortgagee
<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 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 montlily payment of principal and interest required here-
<br />under in -amount estimated by the.Nlortgaigee to he sufficient to enable _the Mortgagee to pay, as 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 be forthwith deposited by the Mortgagor with the A4ortgagee 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 home
<br />owners or all risk policies, and the deposits are_iusufficient 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 ithe option of the M
<br />ortgagee, he held by it In(]
<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 />plgdged 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 />\4ortgage, 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 before ten clays of its expiration, the \Qortgagee 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. F;iilure on the .part. of the Mortgagor to furnish such renewals
<br />-is are herein required or failure to pay any sums advanced hereunder' hall, 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, constitute an assignnuvnt of the till -
<br />earned premium.
<br />Any sums received by the Nlortgagce by reason of loss or damage insured against may he retained by the D4ortgagee
<br />and applied toward the payment of the debt hereby secured, or, at the option of the Mortgagee, such stims either wholly or in
<br />part may be paid over to the Mortgagor to be used to repair such builcdings or to build'new buildings in their place or for any
<br />other purpose or object satisfactory to the Mortgagee without affecting. tile 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 buildings or improvements !' now or hereafter on the prennise•s which nnay be.
<br />come damaged or destroyed; to keep said premises in good condition and repair :uul free from any mechanic's lien or other lien or
<br />claim of lien notexpressly 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 10 act; to connply 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 ;in.), public improvement or condemnation
<br />proceeding, or under the right of eminent domain, or in any other manner, the Alortgagee shall be entitled to all compensations,
<br />awards, and any other payment or relief therefor, and shall be ent-itled:. at its option, to commence, appear,in and prosecute in its
<br />own name atry 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 anv indebtedness secured hereby. The Nfort-
<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 />cluded in any decree foreclosing this mortgage and be paid out of t.he' 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 alet 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 seepred hereby, or
<br />in the performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall he entitled to declare the
<br />debt secured hereby clue and payable without notice, and the Mortgagee shall be entitled at its option, withoiut notice, either by itself
<br />or by a receiver to be' appointed by the court thereof, and without regard to the adequacy of anysecurity 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 same, less costs of operation and collection, upon the indebtedness 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 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 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 releaser of this mortgage.
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