THIS MORTGAGE IS ALSO TO BE, AND CONTINUE TO BE, FROM TIME TO. TIME, SECURITY FOR THE
<br />PAYMENT OF, SUCH SUM OR SUMS OF MONEY AS THE MORTGAGEE MAY FROM: TIME - TO TIME IN THE
<br />FUTURE ADVANCE TO THE MORTGAGOR; AND EVIDENCED BY A SUPPLEMENTAL NOTE' OR NOTES, BUT
<br />NOT TO EXCEED THE TOTAL OF $..17..,.249..3.6 .................. :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 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 clearof 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 levied on the debt secured hereby, and to furnish the
<br />Mortgagee, upoh • 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 there,Eo; any deficiency because of the insufficiency of such additional p5yments shall be forthwith deposited by the
<br />Mortgagor with ,the Mortgagee upon demand by. the Mortgagee. Any default under this paragraph shall be deemed a default in
<br />payment of taxes, assessments, or similar charges required hereunder.
<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 the Mortgagee to pay, as it becomes due, the insurance
<br />premium on any insurance policy delivered to the Mortgagee: Any deficiency because of the insufficiency of such addition5l 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 required to be insured by -this mortgage.
<br />Payments made by the Mortgagor under the above paragraphs may, at the option of the Mortgagee, 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 are heredy
<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 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 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 become immediately due and payable with interest at the rate set
<br />forth in said note until 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 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 the event of 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 be retained by the Mortgagee
<br />and applied toward the payment of the debt hereby secured, 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 Mortgagee 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 premises 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 ekpressly subordinated to the lien.hereof; not to suffer 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 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 on any indebtedness secured hereby. The Mort-
<br />gagor agrees to execute suchJurther 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 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 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 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 for 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 secured 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 payout 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(inortgage -indebtedness.This assignment is to terminate and become null and void upon release of this mortgage.
<br />
|