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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 T0; 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'S HALL 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 sere -
<br />ice charges, and other taxes and charges against said property;! and all taxes•levicd 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 payments shall .be forthwith deposited, by the
<br />Mortgagor with the Mortgagee upon demand -by the Nlortgagee. 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 he added to each monthly payment of principal and interest required here'-
<br />tinder an amount estimated byAhe 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 `AMortgagee 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 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, 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 tiayments 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 (luring the 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 accept -able 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,
<br />heimprovements, 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, in the event of default, constitute an assignment of the un-
<br />earned premium.
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<br />Any sums received by the Nlortgagee' by reason of ,loss or damage insured against may be retained by the Nlortgagee
<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 building: 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 subordinate(! to the lien hereof: not to suffer or permit any unlawful use of or any nuisance to exist on
<br />said property (for to permit waste on said premises; nor, to do any biker actwhereby the property hereby conveyed shall become
<br />less valuable, nor to diminish or impair its value by any act. or omission Jo act: t()comply with all requirements of law with respect
<br />to the mortgaged premises and the use thereof. .
<br />That should the premises or any partthereof be taken or damaged by reason of any public improvement or condemnation
<br />proceeding, or trader 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 Iand 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 be -in-
<br />cluded in any decree foreclosing this mortgage and he 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 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 appoiinted by the court thereof, and without regard to the adequacy oi.any security for the indebtedness se-
<br />cured hereby, to enter upon and take possession of the mortgaged 1)remises, 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 inortgage; said rents,
<br />issues and profits,l?eigg heSeby assigned to the Mortgagee as further security for the payment of all indebtedness secured hereby.
<br />.The Mortgagee'shalf have the power to appoint any agent pr 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 an.& -managing the same and of collecting the rentals therefrom. The balance rem: aining,"if any, shall lie -applied toward the
<br />discharge of the mortgage indebtedness. This assignment is an terminate'and become'null and void.upon release of this mortgage.
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