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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 />Tbat 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 nithorily to sell and
<br />convev the same and that the same is free and clear of any lien or encumbrance; and that Mortgagor will'waerant 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 againstsaid 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 the Mortgagee
<br />to be sufficient to enable the Mortgagee to pay, as they become due, all taxes, assessments. and similar charges upon t.hc prem-
<br />to
<br />thereto; any deficiency because of the insicfliciency of such additional pavments 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 do fault in
<br />payment of taxes, assessments, or similar charges required hereunder.
<br />The Mortgagor agrees that there shall also be acided to .each monthly payment of principal and interest required here-
<br />under tui 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 suc}u additional pay-
<br />ments shall be forthwith deposited by the Mortgagor -with the Mortgagee upon demand by the iNlortgagee. 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, atthe option of the Nfortgague, 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 mortga„e 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, with loss payable clause in favor of and in form acceptable to the Mortga-
<br />gee. In the event any policy is not renewerI on or before ten days of its expiration, the ivlortgagee 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 />'fort.lu in said note until paid and shall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />sums, shall, at the option of the Mortgagee, constitute a default
<br />as are herein required or failure to pay any
<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 use(] 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 sccurerl here-
<br />by before such payment ever took place.
<br />To promptly repair, restore or rebuild any building-,; or improvements nim or hereafter on the premises which may he -
<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 clo any other act. whereby Oil property hereby conveyers 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 improvement or condemnation
<br />proceeding, or under the right of eminent clomain,.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 />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 \Qortgagurs.belialf eaeryfhing
<br />so covenanted; that the Mortgagee may also do any act it may deem necessary to protect the lien thereof; that the Nlortgagor will
<br />repay upon demand any moneys paid or diAursed by the Mortgagee for any of the ahove purposes, anr{ 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 />chilled 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 ortgagor in the payment oC 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 entiticid to declare the
<br />debt secured hereby clue and payable without notice, and the Mortgagee shall be entitled at. its option, without notice, either by itself
<br />or by a-receiverto,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 1)ossession: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 indebterhiess 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 he applied toward the
<br />discharge of file mortgage 'indebtedness. This assignment is to terminate and become null and void upon release of this mortgage.
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