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009289
<br />THIS MORTGAGE 1S ALSO TO BE AND CONTINUE TO BE; FROM TIME TO TfME, SECURITY FOR THE PAYMENT OF SUCH
<br />SU`M 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 MOTE, OR, NOTES, BUT THE TOTAL INDEBTEDNESS SECURED BY THIS MORTGAGE SHALL NOT
<br />EXCEED ONE HUNDRED TWENTY Q20) 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 FIJRTHER COVENANTS AND AGREES:
<br />That the Mortgagor will }pay the indebtedness as hereinbefore provided,
<br />That. the'Mortgagor is tile owner of said property in fee simple and Pias good 'rit ht:tnd lawful authority to sell and
<br />convey the same aiul that the same is free incl clear of any lien or encumbrance; and that Mcirtgagor will warrani.'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 as. cssments, water ch irges, sewer serv-
<br />ice charges, and other taxes and charges against said property, and all taxes levied itis the'debt°'secured hereby, and to furnish the
<br />Mortgagee, upon. request, with the original or duplicate receipts therefor. The .Mo'rtgagor agrees that there shall be added to
<br />each monthiv payment required hereunder or under the evidence of debt secured hereby iii amount estimated'hy the ,\Mortgagee
<br />to he sufficient to enable the 1\4ortgagee to pay, as they become due, all taxes. assessments and similar ch trgls.upon the prem-
<br />ises subject thereto; any de•ficiencN because of the insufficiency of such additional, payments shall he forth ith deposited by the
<br />Mortgagor -with the Mortgagee upon demand by the Mortgagee. Any default. undizr this.pata„raph shall be deemed a default in
<br />payment of taxes, assessments, or similar charges required hereunder.
<br />E
<br />The• Mortgagor agrees that there shall al'o he added to each monthly payment.lof principal and inter t required here-
<br />uam
<br />nder n amount estimated by OW \Mortgagee to he'sufiicient to enable the MortgatJc?e to `pays -as it beconu s °ilt e, the insurance
<br />premium on any insurance polieyidelivt�red to the. Mortgagee. Any deficiency becau\i of 'the insufficiency of such additional pay-
<br />ments shall be forthwith deposilleil by the %Iortgagor with the Nlortgagee upon demand b_v the AMortgagee. Any default under this
<br />paragraph shall' be:deented a default in the payment. of insurance premiums. If the! polie}: or policies deposited are .such as home-
<br />- or all risk policies;:and tfte deposits are insu'.ficient. to piiv the entire premium, the iylcit•tgagee may apply the deposit to
<br />{lay premiums on risks required U he insured by this mortgage.
<br />Payments made by the. `Mortgagor under the above paragraphs may, at thi�i option of Alie INlorlgagee, be held 1w it and
<br />commingled with other such funds or its own funds for the payrrient of such iten»s, and until 'so itpplied, such p:iymf-nts are hereby
<br />pledged as security for the unpaid balance of ill(, mortgage ind(•btc•dnes5_ !
<br />jj
<br />To procure, deliver to, .tad maintain for the henefit of the AMortgage during the life of,this mortgage nrt;;tnal policies and
<br />renewals thereof, delivered at least tell clays before the. expiration of any such .policies, insuring against. fire :ilii] other insurable
<br />hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to Ithe indebtedness sccurcd by this
<br />i4lortgage., and in companies in form acceptable to the %Iortga-
<br />accejttable to the°iVfortgagee, with las payable clause iti'favgr'of anis
<br />gee. In the event any policy is riotrenewed on or before ten days of its expiration.ithe NlDrtgagve may procun insurance on the
<br />improvements, pay ti le premium Itherefor, and.such sum shall hecarne inunediately dl iv and payable with int( rust. `:it the rate set
<br />forth in sail] note until paid and shall be secured by, this mortgh e. Failure on ,the 'pert - of the t\Mortgagor to furnish such renewals
<br />'as are herein required or failure:Jo pay itny sums advanced herei>,nder shall, at' theiopt ion of the lelortgagec constitute a default
<br />under the terms of this rnortga i. The delivery of-such policies shall, in the ewe•ftt o,[; defatill constitute an assig.timont of the'un-
<br />earned premium-
<br />.
<br />Any sums received by ilie Mortgagee by reason of kiss or daniage insured against may he retained by'the \lortgagee
<br />and applied toward the payment of the debt- hereby securer], or, at. the option of, the Mortgagee, such sums cillrr•r wholly or in
<br />part may be paid over to the Mortgagor to be used to repair such buildings or to! build'necw,buildings in their.-place or for any
<br />other purpose or object satisf tcfory to the Mortgagee without 'affecting the lien on' tile •
<br />e mort age for the full amount secured here-
<br />'hv before such payment ever took place.
<br />To promptly repair, restore or rebuild any building; or improvements now or hereafter on the• prcmises'whiclt may he
<br />clime damaged or destroyed; to'keep said premises in good condition and repair anrl' free from'any mechanic's lien''or other lion or
<br />claim of lien not expressly suborccdinated to the lien hereof: not to suffer or permit. airy unlawful'mse of or anynuisance to exist on
<br />said property nor to permit waste on said premises, nor to do lily other act whereby the proli,erty hereby conveyor! shall become
<br />less valuable, nor to diminish or1pipair its value by any let or ornission to act; to comply with all requirements ,f law with respect
<br />to the mortgaged premises and the rise thereof.
<br />Thatshould the premist%s or any part thereof be taken or damaged by reason of ant public improve meant- or condemnation
<br />proceeding, or under tile right of eminent domain, or in any other mariner, the Mortgagee shall be entitled to all' eompensaticnts,
<br />awards, and any other payment or relief therefor, and shall he entitled, at: its option; to commeium, appear in'and prosecute in its
<br />own name any action or proceeding, or to make any. compromise or settlement; in connection %;ith such faking to damage. All such
<br />'.compensation, awards, damages,: right of action and proceeds fire hereby assigned ito the `lortgagee, .who may, sifter deducting
<br />therefrom all its expenses; release any moneys so received by it `or apply the same on any indebtedness secured hereby. The Niort-
<br />{ ager agrees to execute such further. assignments(4 any compensation. awards. damages, and rid pts of action;titil'proceeds as, the
<br />wfortgagee may require. i •: e
<br />That in case of failure tit perform any of the covenants Herein, the Mortgagee may do.()
<br />the \-Iortgagor's behalf everything
<br />so covenanted; that the i\4ortga{,ce may also do any act. it may deem necessary to ti'rotect'tbv liirn thereof: that. the Mortgagor will
<br />repay upon demand any money's paid or disbursed by the Mortgagee for any of the'above pu`rpitses, and such inoueys together with
<br />'interest thereon at. the rate provided in. said note” shall become` so much additional indehteiiness hereby secured and may bi in-
<br />cluded in any decree foreclosing' this mortgage and be paid out.:of the rents or-prcjceeds of sale of said premises if not otherwise
<br />,paid; that it shall not be obligkory upon the Mortgagee to inquire into the validity of iuty lien, ellcumbrutcos, or claim in ad-
<br />vancing moneys'as above author."ized, but nothing herein contained shall be construed as ;requiring the Mortgaged to advance any
<br />,:moneys for any such purpose nor to do any ret hereunder; and that Mortgagee shall :not. incur piiv 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 Not( 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 clue and pavable without notice, and the Mortgagee shall he entitled at. its option, without notice; either by itself
<br />or by a receiver to be appoinby the court thereof, and without regard to the adequacy of airy security for the indebtedness se-
<br />teneured hereby, to enter upon aril] take possessiitn 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 herehy ahsigned to the MIdrtgagee as further security for the i>,ayment of all indebtedness sectored hereby."
<br />The Mortgagee shall have the power to appoint any agent or agents it mayfdesire for' the purpose of'repa ring said prem-
<br />ises; renting the same; collecting the rents, revenues and income, and it may pay out of said income all expense, incurred in rent -
<br />ging and managing the same aid of collecting the rentals therefrom. The balance remainin{ ''if .my, shall he, applied toward the
<br />discharge of the mortgage indebtedness. This assignment is to terminate and .become null and void upon releasin of this mortgage.
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