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THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM TIME TO iTIME,: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 ZANY ADVANCES THAT MAY BE MADE
<br />TO PROTECT THE SECURITY IN ACCORDANCE WITH .THE -TERMS OF THIS MORTGAGE.;"
<br />THh MORTGAGOR FURTHER COVENANTS AND AGREES.
<br />��. That the Mortgagor,will' pay the indebtedness as'hereinbefore provicded..
<br />That the Mortgagor is the owner of said liioperty in fee simple and has good right and lawful authority , to sell incl
<br />convey the same and that the same is free and clear -of airy lien or encumbrance; a 114 that Mrjrt.gagor will Warragt and defend the
<br />title to said premises 'against the claims of all 'persons whomsoever.
<br />To'pay immediately taken due and payaljle all general taxes, special taxes; special assessments, water charges, sewer serv-
<br />ice charges, and other taxes hand charges against tiaid property, and all taxes .levied. bn the debt. secured hereby,'_aa( to furnish the
<br />Mortgagee, upon request, with tine original or duplicate: receipts therefor.': The 1 lortf Igor 'agrees that there shall be added to
<br />each monthly' payment required liereunde r or antler the evidence of debt secured. rehy an amount estim atq(C the Mortgagee
<br />to be sufficient to enable thee i\Ibrtgagee to pay, as they become (Inc. ai taxes, as.sessrr enls. and similar chargesarpon the prAm-
<br />ices subject thereto; any deficiency because of tiler insufficiency cif such additional. 1p iyments,isliall he forfhwith. deposited by -the
<br />Mortgagor with the Mortgagee upon demand by the ' lortgagee. Any default undo r this para raph shall bedee=' ed a default in
<br />payment of taxes, assessments c r similar charge required hereunder.
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<br />The Mortgagor agrees that there shall , Iso he added to each monthly pct} nie nt lof principal and mtc rest. required here-
<br />under an amount estimated by the Mortgagee to, bae.'sufficicnt .to unable the -Mortgagee to pmy, as it becomes-oitie,' the insurance
<br />premium on any insurance policy delivered to t}ic b-fortgagee. Any deficiency bec.ilise of =the insufficiency of stick additional pay-
<br />ments shall be forthwith deliositeil by tine Mortga�,or with the IMortgagee upon de rxi Ind liy thin :\'Iortgagee, Any default tinder (his
<br />paragraph shall be deemed -a default in the p aymiint of insurance premium',. If thi ipohc'y or (policies deposited:'ate•such as' home-
<br />owners or all risk'policies, and the deposits are insufficient to pay the enfire premium, the 4etrtgagee may aliply the deposit to
<br />pay premiums on 'risks required to be insured by this most at,e
<br />Payments made by the .�4ortgagor under the .11) paragraphs may at tlie� option oft(lieMortgai,ee be held by it aatrd
<br />commingled with other such,funds, or its own fun- s�for the payment of such items,: mil until so applied, such payments are hereby
<br />pledged as security for the unpaid balance of the inorig:ige indebtedness.
<br />To larocure, deliver to >nd maintain for the benefit. of the Mortgagee duril the "life ,f this mortgage c on in il polices Ind
<br />renewals thereof, delivered at (cast ten days before;. the expiration of any such pialrcws, insuring against fire and other insurable
<br />hazards, casualties, and contingencies as the Mo�tglgue : may require, in -an amount equal to . the indebtedness secured by this
<br />Mortgage, and in.companies (acceptable to the ivlortga •ee, with loss payable Clause inif favor of and in form accept able to thi: 1lortga-
<br />gee. Lt the event any policy is not. renewed on or.before ten days of its expiration E the. I% orl„agee may procu"rc imiurance on the
<br />iinprovements, pay the preiniuni therefor, :and suchi'slim shall become inirieiliatelv'.ilue and payable with interest:. at the rate set
<br />forth in said note until paidand: shall he secured flit this mortgage. Failure on the1part of the, \lortgagor to funtivh such renewals
<br />as are herein required or failure to pay any sums'�ifltanced hereunder shall, at tile.loption of,, the Afortgagce constitute -n default
<br />under the terms of this mortgage, The deliver of ;i ell. policies shrill, in the,event:<ifj default constitute an Issigninent. of the un-
<br />earned premium.
<br />Any sums received 1 b the Mortga„ce by reason of loss or damage insii Iced against may he retained by the A-lortgagee
<br />and applied toward the pay`nent of the debt he {eby Secured, or, at the otttion cif the Mortgagee, such sums.eithe`r wholly or in
<br />part may be paid over to.thi Mprtgagor to be u51.ti to repair. such builclings or 'jo build,'auiti�l buildings in their place or for any
<br />other purpose or object satisfactory to the Mortgagee tdithoiit affecting the licit ori hhe njortgage for the full ariiount secured here -
<br />1' before such payment ever€ took place.. �
<br />To promptly reliair, rctitore or rebuild miry buildings or improvements no tt or here ifter on the prenv;cy which may be-
<br />come damaged or destroyed;Eto keep said premises• in good condition and 'repair and; free ;from any mechanics lien or other lien or
<br />claim of limn not expressly subordinated to the henll:hereof; not. to suffer or, Hermit: iiiry'unlattful`'use, of or ant nuisance to- exist ..on
<br />said, property nor to.permit -waste on said pre mi$Es, nor to do any other act whereby thin property hereby conveyed shill become
<br />less valuable, nor tt diminish dor"impair its vahie by'fany act or omission to act; to comply tvitWall requirements of law with respect
<br />to the mortgaged premises and the use thereof. I !
<br />That should the prenuses or any part thereof he taken or damaged by reasl,n of iuly public improvement or condemnation
<br />proceeding, or under the right of; eminent domain, cir rat any other manner: the Mortgagee shall be. entitled to all compensations,
<br />awards, and any btlier payment' or relief therefor and .shall be -entitled. at its option" to cbmmence, appear un'and prosecute in its
<br />own name any action or pro`eeeding, or to.ma6c;any, compromise or settlement int conneetion,,with such taking or -damage. All such
<br />compensation, attarils, dama„es,'right of action And proceeds are hereby assignelf to the llcnrtgagee, who mai�,`after deducting
<br />therefrom all its exp rises, release any moneys so •receivt'.d by, it or apply the same on env, indebtedness secured 1wreby. Tile Mort-
<br />gagor agrees -to execute such! further assignment's' of =any compensation, awards, clam a„c s 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. Niortg:rge�j may,' do on the \fortgator's h,ehalf eve rvthing
<br />so covenanted; that the Mortgagee may also do any?act it may deem necessary to protect the lien thereof; that -tile 1Mortgagor will
<br />repay upon demand any' moneys: paid or disbursed by t)Ie Mortgagee for any of the above' purlaoses, and such moneys together with
<br />interest thereon 'at .tire rate provided in said ncite'yshall become 'so much additionnl` tndeliti�dness hereby'secured: and may be in-
<br />cluded in any decree foreclosing this mortgage anci-be paid out of the re'nts1jor fii•oceds >f ,ale of said premises -if not otlerwise
<br />Haid; that it shall not be obligatory upon the Mo> tgagee to inquire into the validity of any lien, encumbr noes;: or claim in ad-
<br />vancing moneys as above authorized, but nothing•hereimcontained shall be construed as'iequiring the Mortgagee to advance any
<br />moneys for any such purposelnor to do any -a& hereunder; and that Mortgagee shall not incur sing personal liability because of any-
<br />thing it may do or omit. tb'rlo hereunder. j
<br />In the event of the default by Mortgagor in the payment of any installment as required by the Note srjcurerd herehy, or
<br />ria the performance'of the obligation in this mortgage.or in the note secured thereby the Mort{ agee shall he
<br />entitled . -to declare the '
<br />debt secured hereby, clue and payable without notice', and the iVfortgagee shall he entitled at its option, without ni,tice .eit}ter by itself
<br />or by a receiver to be appointed by the court thereof, and without regard toithe adequacy,"of any security for the. indebtedness se-
<br />cured hereby, to enter upon band take possession oC the mortgagee- premises,- and tolcollect' and receive, the rusts issues and profits
<br />thereof,' aplily the same,EIess 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 fru the liaymerit of ill[ indebtednesssecured hereby.
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<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 but of s aid income all expenses incurred in rent
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<br />ay
<br />and managing the same Mand of collecting the; rentals therefrom. The balance remaining; if any, shall he aliplierl. totJard the
<br />discharge of the mortgage indebtedness. This assignment is to -.terminate and become null and void upcin release cif: this mortgage.
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