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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 TOTALINDEBTEDNESS, 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 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 shall be added to
<br />each monthly payment required hereunder or tinder 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 deficiencv 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 />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 adefault 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 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, he 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 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. In the event any policy is not renewed oil or before ten 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, i 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 damage insured against may be 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 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 />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 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 daniaged 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 />qwn 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 sectired hereby. The Mort-
<br />gagor agrees to execute such further assignments of any compensation, awards, damages, and rights of action'a6d 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 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 .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 />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-ancd 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'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 />'I'he 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 andincome, and it may pay out•of said income all expense's incurred iii 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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