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-009157'
<br />091.5': ;
<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 IN THE FUTURE ADVANCE TO THt MORTGAGOR, AND
<br />j 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 />T�E' 'MORTGAGOR FURTHER COVENANTS AND AGREES:
<br />i .
<br />That the ;Mortgagor will pay the inclelitedness as hereinbefore provider).'
<br />That: the,Mortgagor is the owner of said property in fee simple and 'has hood 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, b4ortgagor will warrant'and ([uteri([ 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 seiiV-
<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, with the original or duplicate receipts. therefor. The Mortgagor agrees that. there shall he added to
<br />each monthly payment required hereunder or under the evidence of dept secured hereby . amount estimated by the �fortgagec
<br />to he sufficient to enable the Mortgagee to pay;. as they become clue• all taxers, assessments, ancl.similar charges upon the prem-
<br />ises suibject thereto; any deficiency hecause of the insufficiency of such additional payments shall'be forthwith deposited by the
<br />Mortgagor with the Mortgagee upon demand by the Mortgagee. Any default raider this paragraph shall he deemed a default in
<br />payment of taxes, assessments, or similar charges required hereiuider.
<br />The Mortgagor 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 lite Mortgagee to pay, :is it becomes .clue, the insurance
<br />premium on any insurance policy delivered to the Mortgagee. Any deficiency because of the insufficiency of such nrlditional 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 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 requircild to he insured by this mortgage.
<br />Payments made by the ;\Mortgagor under the above paragraphs may, at'the option of the Mortgagee, he held by it an(l
<br />conuningle I 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 mortgage original policies and
<br />renewals thereof, delivered at least ten days before the expiration of any such:policies, insuring against fire and other insrirahle
<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 Mortgu-
<br />gee. In the event'•any policy is not renewer) on or.before ten clays of its expiration. the Mortgagee may procure insurance on the
<br />improvements, pay the premium therefor, and such sum shall hecoine immediately •due and payable with interest. at, the rate set
<br />forth in said note:turtil paid and shall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />as are herein required or (ailuro to pay any sums advanced hereunder shall, at the option of the Mortgagee, constitute a default
<br />under the terms of this mortgage. The clelivery of such policies shall, in the event. of default, constitute an assignment of the un-
<br />earned premium.
<br />Anv sumsreceived by the Mortgagee by reason of loss or damage insured against may he retainedby the \Mortgagee
<br />and applied toward the payment of the debt hereby secured, or, atthe option of the Mortgagee, such suras either wholly or in
<br />part may be paid over to the Mortgagor to be used to repair such buildings or to buil(I'new buiildings in their place or for any
<br />other purpose or object satisfactory to the Mortgfigee without affecting the lien on the mortgage for the full amount secure(] here-
<br />by before such payment ever tool: place.
<br />To promptly repair, restore or rebuild any building's or improvements -now or hereafWr on the premises which may h�-
<br />come '(lamagecd or destroyed; to keep said premises in goo(] condition and repair :and free from any mechanic's lien or other lien i)r
<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 cin
<br />said property nor to permit waste on said premises, nor to do any other act whereby file property hereby conveyed shall become
<br />less valuable, nor to diminish or impair its value by any act or omissirnu to act; to comply with all. requirements of law with respei�t
<br />to the mortgaged premises and the use thereof.
<br />That should the premises or :lily 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 he untitled 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 />9wn 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 Viort-
<br />gagor agrees to execute such further assignments of any compensation, awards, d.rmages, and rights of action and proceeds as the
<br />'\Mortgagee may require.
<br />That in'rase 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 protect the lien thereof; that the Mortgagor will
<br />repay upon demand any moneys paid or disbursed by the \Mortgagee for any of. the above purposes, and such moneys together with
<br />interest thereon at the rate provide.([ in said note shall become so much additiobal indebtedness hereby secured and may he in -
<br />eluded in any decree foreclosing this mortgage and be paid out. of the rents or-.liroceeds of sale of said premises if not otherwise
<br />paid; that it shall pot 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 Mortgagi�v to advance any
<br />moneys for any suich purpose nor to do any act. hereunder, and that Mortgagee shall not incur any personal liability because of any-
<br />thing it may do of omit to do hereunder.
<br />In the event of the default by Mortgagor ill the payment of any installment, as required by the Note securer) hereby or
<br />in the performance of the obligation in this mortgage or in the note secured thereby, the Mortgagee shall he entitled 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 receiver to be appointed by the court thereof, and without regard to the adequacy of any security for the indebtedness se-
<br />cured hereby, W,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 farther security for the payment of all indebtedness secured hereby.
<br />The Mortgagee shall havd 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 aplilied 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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