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<br />008941
<br />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 1N THE (LLFUTURE; ADVANCE TO THE MORTGAGOR, AND.
<br />EVIDENCED BY A SUPPLEMENTAL NOTE OR NOTES,. BUT THE TOTAL INDEBTEDNES 31 SECURED BY THIS MORTGAGi',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. .
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<br />THE MORTGAGOR" iY URTHER COVENANTS AND AGREES: i
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<br />That the Mortgagor will pay the indebtedness as hereinbefore provided. i
<br />That. the Mortgagor pis the owner of said propertyin fet simple and has! good ri„ht :incl lawful authgntt oto sell and
<br />convey the same anti"that the same is free and clearof any lien or;encumbriince.; anc� that Mortgagor will raarrant and defend the
<br />title to said premises against the. 'claims of all persons whomsoever. !
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<br />TO pay imnicdi Lely aches clue and payable all general t..axes,.specia] f axes, pccia) otitic ssinents. water charge s; sewer serv-
<br />ice charges, and other; t nes and charges against said property, ant all taxes levied ��A the de ht securedhen br arirl:fo`furnish the
<br />Mortgagee, tlpon requc st, with the original or duplicate 'P
<br />receipts therefor.. he Ai�ii t =agor agrees. that there ;Ball be added to
<br />each monthly payment required hereunder or under the evidencetof debt" se tired It,Yeby ari anuuntt estinaated-by;the Mortgagee
<br />to' be ::"sufficient to' enable the, Alortgagee to p tv, as they hecome� clue. all t nes; itstit �sslents, fand similar charges upetii.tbe prem-
<br />ises subject thereto; :any deficiency because of the insufficiency of "such additional 1 a,vments hall he forthwith deg�osited by thiI
<br />Mortgagor with the Mort„a
<br />g: ,' gf e ut)on demand by the \fort} ogee•. Any default under this 'tt uagraph shall he iivf:inerl a default in
<br />paymont of taxes,tssrsment. or similar char es requireol hereu}tder.
<br />'Fit(- Afort„agor threes that there shall also he adder' to each montblr pea Iment of e1}rincillal and inleres"t” required here-
<br />under"an amount estitiiated by t.hc :Mortgagee' to be uflrcierit.to enable the Mori ag?i to _I !, as it becontr�s due, •tfie insurance
<br />premium on any, hnstiriince polier delivered to the Alort ogee. Any de hc.iency bec:nts •) of tlihr i?tsuRi<'ioncy of such additional pay-
<br />mcnts shall he forthwith depo�tterl:by fill— tgagnr with the Alottgagce upon denulrld by:fl}(: Alortgagee. Any default under this
<br />paragraph shall be deemed_ a k(efault it, the paynrent of insurance pnmiunt If the tidily 'o j)ohr,ies deposited ai•e Birch as home-,
<br />owners or all risk politics, an,il fill.. depo,its are insufficient to }ray the oritire premii rn, thcr, lortgagee may apply alie deposit to
<br />pay premhums on risks rc gtiirr+d to he insured by this nlot tgage.
<br />I'aynuaats made by the Mortgagor under the above paragraphs may, at they��tplio1) lrf the \lortgagee he hold 1iy it :uul
<br />commingled with other.�suc6 f0rids, or its own funds.for the payment of such' items, a�t�l until kcl applied, Btu It payrni�nts_are hereby
<br />Pledged as security for'the unp aid: balance of the rnort a„c indelhtedncss �
<br />I'O procure, deliver to ami maintain for the herefit of the Afottgageo chirin ithc life!cif this mortgage ori sinal policies and
<br />reneti,als thereof, deli,vcinxl at lC�ast Ica da%s hefore'lbe expiration of any such polio;.,, i1,SiRiol' against fire and hither insurable
<br />h aards Casualties. aril cumin enc urs as the Mort age e nray require, in an anuhutt.� p(l ai ti)'� the' indehtedne ss `ecured hy, this
<br />Mortgage, and in con it acceptable to the' Mortgagee, with loss payable.clauso in favor of.ntd in form acceptable to'ihe Aforiga-
<br />gee. lu the event. any;policy k not. renewed on or beforr ten doe � of its expiration, file Alori ager may prounr nsui.anco on the
<br />intprovernents, p,ay the prerniuhi therefor, :and such'surn-stall became immediately da�c an'd: lf:iYmble with interest :it the rate se.t
<br />forth in said note: unthl paid and shall bo secured by this molt r ge. F ailure'on the p't"it of th(� �1�lortgagor to furmtih'such renewals
<br />-is tire 'herein required -or failure to. pay any stints advanced hereunder shall, at the (>latcun <�t tho Alorlragce constitute a defatilt
<br />miller the terms of this'mortgage. The delivery of such policies shall, in the event oC�drfault"„clinsiitute an asagnmCnt' of file ori -
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<br />canted. premium.
<br />Any sums received by file Alort .ogee by -reason of loss' or dam age uisurer` against{ to iy he retained by the Mortgagee
<br />:and applied toward the payment of the debt hereby secured or; at the Option of,tltac Mortj area, such suras either iabolly or in
<br />part may be paid over. to thrMortgagor to be used to repair Stich bt ilditt};s or fo Ilt e7d ntrve buildings in fihc it �tlace or for any
<br />other purpose or object siitisf story to the Alortgahee without affecting; the lien on.tliir moi,jt,'aj,e. Lir the full ane}tint securer! herr-
<br />by before such payment ever took place.
<br />7'o promptly repair, restore or rehuild ari)' buildings or improvements noititr here jtfle r 'on the prem r' %'Mich rnav 1;c -
<br />come dila e"d or deylsuycd; to keep premises in, good condition and repair and free frons any mechanic s lien or. Tither lien or
<br />Claim of lien not expressly sub(irduiated to the lien }hereof; not to stiffer or permit any irnlawfdl; use' of or in% nuisance to exist on
<br />said property nor to ptrmit waste on said premises;'nor to downy other act. «herebdille liruperty:hereby conveved.shall become
<br />less valuable, nor to dimtm�h or impair its value by any act or omission to act; to Contf,lt with fall •requirements of lair �1r'ith respect
<br />to the mortgaged premises acid ,the use thereof. ;. {
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<br />Thhat should rhe prentiu� or, any part thereof Ix, taken or: damaged by reason h'of .ua% ltttbhc;irnprovoment'or, ccincienutation
<br />proceeding, or under the right ryof eminent domain, or in any other, manner,' the Mort ia„ eo shill he entitled to all .compen-alions,
<br />awards, and any other payment or relief therefor, and shall be entitled, at. its option, jo commcnce,,appear in ani' prosecute in its
<br />own name any action or proceeding, or to make any compromise or settlement in cojaau�ctien with such taking, or. daniage. All such
<br />compensation, awards, "d tm age4, right of action vol proceeds are hereby assigned t{); the A�lortgai ee, who- may, after deducting
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<br />therefrom all its expense s, release any moneys so received by it or apply the same ons my indt htedness secured hereby', The A1ort-
<br />gagor agrees to execute such further assignments of any compensation, awards, clam:tries. and rights of action and priccerls as the
<br />Mortgagee ntay require. ; i as.
<br />the
<br />in case of failure to perform any of the covenants herein, the A'lort„ngee H:ay"dei on the Mortgagors be}aalf ^Gervthirig
<br />so covenanted; that the IVlortga ee may also S10 any act it may deem necessary to pro cel the hue thereof; that. the Mortgagor will.
<br />repay upon demand :any moods paid or disbursed It the Mortgagee for any of the arirve purpose and such moiacys tS,gether with
<br />-interest thereon at the rate provided in said note shall become. Sri much adtlitionaF indebted hereby secured. ancL'may he in-
<br />cluded in any decree foreclosing this mortgage and .be paid olit. of; the renis or proccee�s of sale of ,said premises if:'nof otherwise
<br />paid; that it shall not be obligatory upon the Mortgagee to inquire into the validity of any heti, encumbranc s.: or saaim in ad-
<br />vmteing moneys as above nuthortri=r1, but nothing herein contained shall be vonstruedl 6s requiring the Nlortgageit to advance any
<br />moneys for any such purpose nor to do any act hereunder; and that Afortgag,+ee shall nht incur inr personal liahihtj because of any
<br />thing it, may rlo or omit to do hereunder.
<br />In the event of the default by Mortgagor in"the payment, of any instalhnent.� as required by the Note,sccuresl hereby, or
<br />in the performance of "the obligation in this mortgage or in the note secured thereby, taxi, Afortg ogee shalhbe entitled to declare the
<br />debt secured hereby clue ancd payable without. notice', and the Mortgagee shall be entitlgrl at its option, witlhout nature, "eiiher by itself
<br />or by a receiver to be appointed by the court the.rcof, and without'regard to the arlcctuicy of any security for the indebtedness se-
<br />cured hereby, to enter upon arid take possession of the mortgaged premises, and to-cdllect and receive the rents :issues and profits
<br />thereof, and apply the same, less costs of Operation and collection, upon the inedebtellkv. secured by this mor a„age; said rents,
<br />issues
<br />and profits being hereby assi:Sned to the Mortgagee as further security for the pad stent of :all indebtedness' secured hereby..
<br />The Mortgagee shall have'the power to appoint any agent. or agents it may d(Nire for the purpose of rep tiring said prem-
<br />ises; renting the same; collecting the rents, revenues and incomc,'and it may pay outic�fsaid income all expenses incutred in rent
<br />ing'rdnd managing; the same and, of collecting the .rentals therefmrn. The balance. remaining, of any, shall he applied t"oward the
<br />drscharg c of 'the mortgag c indebtedness. This assignment is to terminate and hecomel null and void upon release crC"t}iis mortgage.
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