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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 MAX 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 />l� 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 due 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 levier] 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 he forthwith deposited by the
<br />Alortgagor' with the' Mortgagee upon demand by the Alortgagee. Any default under this paragraph. shall be deemed a default in'
<br />payment of taxes, assessments, or similar charges required hereunder.
<br />The Mortgaggr 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 to be. sufficient to enable the Mortgagee to pay, as - it becomes rltie.• the insurance'
<br />premium on any insurance policy deliverers to the Mortgagee. Any deficiency because of the insufficiency of such, additional pay
<br />merits shall be forthwith deposited by the Mortgagor with the Mortgagee upon dernand 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 Alortgagee may apply the deposit to
<br />I ay premiums on risks required to he insurrd by this mortgage.
<br />Payments made by the Mortgagor under the above paragraphs' may, at tine option of the Alortgagee, 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 aro 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 mortgage original policies and.
<br />ren(;wals 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 Savor 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 became immediately dire and payable with interest at the rate set
<br />forth in said note until paid and shall be secured I)y'this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />as are herein required or failure io pay any sums advancer( hereunder shall, at the option of the Mortgagee, constitute a default
<br />under the terms of this mortgage. The delivery of sueft'policies shall, in the event of, default, constitute an assignment of the un-:
<br />earned premium.
<br />Anv sums received by the- Mortgagee by r6ason of loss or damage insured against may be retainer( by the Mortgagee
<br />and applied toward, the payment of the debt hereby si,cured, 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 Mortgagpe 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 buildings or improvements now or hereafter on the prernises 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 exprefisly subordinated to the lien hereof; not to sutler or permit any' unlawful use of or any nuisance to exist on
<br />said property nor to permit waste on said premises, nor to do any other 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 improvement fir condemnation
<br />proceeding, or tinder the right of eminent domain, or in any other manner. tile.Mprtgagee. 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 tile' same. on any indebtedness secured hereby. The Alort-
<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 Alortgagee may do on the Nlortgagor'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 Afortgagor will
<br />repay upon demand .any moneys paid or disbursed by tine 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 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 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 appointed by the court thereof, and without regard to the adequacy of any security fqr 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 this mortgage; said rents,
<br />issues and profits being hereby assigned to the Mortgagee as further security for the payment -of all indebtedness securer! 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 be aplil•ied 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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