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THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE,- FROM .TIME Tp 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 %vill 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 spry -
<br />ice charges, and other taxes and charges against said. property, and all taxes levied on the debt. secured hereby, and to furnish the
<br />Mortgagee, upon request, Kith 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: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 jruyments shall- he forthwith deposited by the
<br />Mbrtgagor with the Mortgagee upon demand by the Mortgagee. Any default under this paragraph shall he deemed a default hi
<br />payment bf taxes, assessments, or similar charges required hereunder.
<br />The Mortgagor agrees that there shall also be added t6 each monthly payment. of principal and interest requires) here-
<br />under an amount estimated by theiVlortgagee to he sufficient. to enable the i\Iortgagee to pay, as it becomes due, the insurance
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<br />premium on any instfrance 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 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 depo;itcd are such as honne-
<br />ownefrs 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 tine option of the Mortgagee, 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 arc hereby
<br />I pledged as security for the unpaid balance of the mortgage indebtedness.
<br />To procure, deliver, to, and maintain for the benefit. of tine Mortgagee during the life of this mortgage original policies and
<br />renewals thereof, delivered at least ten slags 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 file Nlortga-
<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 iluc and payable with interestat the rate set
<br />forth in said note uintil paid and shall he secured'hy this mortgagee: Failure on the part of the Mh ortgagor to furnissuch 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 thin eventof 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 he retained by the Mortgagee
<br />and applied toward the payment of the debt. hereby secured, or, at. the option.eif the Mortgagee, such sums either wholly or in
<br />part may he paid over to the Mortgagor to be used. to repair such buildings or Jo build 'new buildings in their place or for any
<br />other purpose or object satisfactory to the Mortgagee without affecting the lien -cin 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 nosy or hereafter on the premises which may be -
<br />conic damaged or destroyed; to keep said premises in good condition and repair :incl 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 nqr 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 or condemnation
<br />proceeding, or under 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 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 stn any indebtedness secured hereby.The Mort-
<br />gagor agrees to execute such fuirther assignments of any coin pensatioit. 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..hrotect the lien thereof; that the i\•Tortgagor will
<br />repay upon demand any moneys paid or disburses) by the Mortgagee for any of the above purposes, and such moneys together with
<br />interest thereon at tine rate provided in said note shall become so much additional indebtedness hereby secured and may he in-
<br />cluded in any decree foreclosing this mortgage and be paid out. of the rents or proceeds of sale of said prernise 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 clo any act hereunder; and that Nfortgagee 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 mortgagit 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 for the lindebtedness se-
<br />cured hereby, to enter upon and take possession of .the mortgaged premises, and to collect. and receive the rents, issues anit 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 sectiresd 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, rind 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 applied toward the
<br />discharge of the mortgage indebtedness. Thi's assignment is to terminate and become null and void upon release of this mortgage.
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