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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 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 stibject thereto; any deficiencv because of the insufficiency of such additional payments shall he 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 eaeh monthly payment of principal and interest required here-
<br />under an amount estimated by the Mortgagee to he 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 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 insufficient to hay 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, 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 herehv
<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 on 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 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 t.hepart 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, 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 but or improvements now or hereafter on the premises which may be-
<br />come damaged or destroyed; to keep said premises in good condi.tion'and repair and free from any mechanic's lien or other lienor
<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 dei any either 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 improvementor condemnation
<br />proceeding, or under the right of eminent domain, or in any other manner, the Mortgagee shall be entitled tri 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: herei n, 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 4he 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 tiie 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 />7n•the event of the. default by Mortgagor in the payment of any installment, as required by the Note secured hereby, or
<br />in the performanep,of_ the obligation in this mortgage or in the', note secured thereby, the Mortgagee shall be entitled to declare the
<br />debt secured hereliyAtie and payable without notice, and the Mortgagee shall he entitled at its option, without notice, either by itself
<br />or by a receiver to be•.appointe l 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 thin 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'sliall• 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'.] ncu rred in.rent=
<br />'ing ancl.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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