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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 tares, special assessments, water charges, sewer serv=
<br />.ice charges, and other taxes and charges against 'said liroperty,;-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 thereshall be added to
<br />each monthly payment required hereunder or under the evidence of ;richt secured hereby an amount estimated by the Mortgagee
<br />to he 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 payments shall be forthwith idepositerd 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 Wile sufficient to enable the Mortgagee to pay, as it becomes flue; 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 he" 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 (lei osited 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 insurer{ by this mortgage
<br />Payments made by the Mortgagor under the above paragraphs may, at the option of the Mortgagee; be helyd 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 tile 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, "Vith,loss payable clause in favor of and in form acceptable to the Nlortga-
<br />gee. In the event any policy is not, renewer) 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 due and payable with interestat the rate set
<br />forth in said note until paid and shall be securer, 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 un-
<br />earned premium.
<br />Any sums receiver) by the Mortgagee by reason of loss or damage insurer) against may he retained by the Mortgagee
<br />and applied toward the payment of the debt. hereby securer); or, at the option of the A4ortgagee, 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 (.in 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 ]veep said premises in "gout co ditiori 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 dpi any other act whereby the property hereby conveyed shall become
<br />less valuable, nor to diminish or impair its value by any act or remission to let: 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 taker 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 r4ortgagee shall be entitled to all. comliensations,
<br />awards, and any other payment or relief therefor,,and shall hc�entitle;d, at its option, to commence, appear in and:prosecute in its
<br />mvn 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 .anti proceeds, are hereby assigned to the Mortgagee, who may, after" rlerducting
<br />therefrom all its expenses, release any moneys so received by it or apply the same on any indebtedness secured hereby. The Nlort-
<br />gagor agrees to execute such further assignments: of any compensatiim, 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 dui 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 A/fortgagor 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 />interestthereon at the rate provided in said note shall become so much additional indebtedness hereby secured and may he in -
<br />chided 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 authorizer), 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 securer) thereby, the Mortgagee shall be entitled to declare the
<br />debt secured hereby due anrd.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 tile' 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•and ' costs of operation ancollection, upon the indebtedness secured by this mortgage; said rents,
<br />issues anal profits,}?eiug hereby assigned to the Mortgagee as further security for the payment of all indebtedness' secured hereby.
<br />J'he Mortgagee'sluall' 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 he.applied toward the
<br />discharge of the mgrtgage'indebterdness. This assignment is to terminate and hecome'mill and void.upon release -of this mortgage.
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