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<br />00931
<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 THEUTURE ADVANCE TO THE MORTGAGOR, AND
<br />. A F
<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 wily pay the indebtedness as hereinbefore provider).
<br />That the Mortgagor is the owner of said property in tee 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; an' that Mortgagor yvill warrant; :ind &,fend the
<br />title to said premises against. this! claims of all persons whomsoever.
<br />To pay immediately when due and payable all general taxes,esp6cial taxes•special assessments, water ch.irges, sewer serv-
<br />ice c}iarge-s, 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 tine original or duplicate receipts therefor. The Alortgagor agrees that them .shall be added to
<br />each monthly payment required Inereunder or under the evidence of debt secured hereby an amount. estimated.bv:file Mortgagee
<br />-to be sufficient to enable the. Mortgagee topay, as they become clue, all taxes, assessments, and similar char;;esupon the prom -
<br />ices subject thereto; any deficiency because of the insufficiency of such additional payments shall be forthwith deposited by the
<br />A4ortgagor with the Mortgageeupon demand by the A4ortgagee. Any idefault:under this pariigraph shall be deemed a default in
<br />,payment cif taxes, assessments, or similar charges .required hereunder.
<br />The Mortgagor agrees that. there shall also he added to each monthly'payrnent of principal and interest required here-
<br />under an amount estimated by the Mortgagee to be sufficient. to finable the Mort,gagee to pnv I as it becomes due, the insurance
<br />premium on any insurance police, delivered to the Mortgagee. Any deficiency because of"the insufficiency of such additional pay-
<br />ments shall be forthwith deposited by the A4ortgagor with the N,Zortgagee upon demand by the:Nlortgagec. Anv'default under this
<br />paragraph shall be deemed a default in the paymenr of insurance premiums. If t.he!',policv o'r policies deposited'arc.such as home-
<br />owners on all risk policies. and tyre deposits are insufficient to pay the entire premium, the'Mortgagec may apply the deposit;'to
<br />pay premiums on risks required ttr be insured by this mortgage.
<br />Payments made by the kfor(gagor under the above p rr tgraphs .may, at the option of .the Alortgagee, be ]jolt) by it
<br />and
<br />commingled with other such funds or its own funds for the payment of such itenns, and until so:apphed:, such payments are herebv
<br />pledged as security for the unpajd balance of the mortgage indebtedness.
<br />To procure, deliver to, rine) maintain for the benefit of the Mortgagee rhiring the life of'this mortgage original policies pari
<br />renewals thercor, delivered at lelist, ten clays before,the expiration of any such, policies, insuring against fire anis other insurable
<br />hazards, (asualties, and contingencies as the Mortgagee may require, in an amount equal to ilne indebtedness' securest by this
<br />Mortgage, and in companies acre;)table to the Mortgagee, with 19ss payable clause�in favor of and in form acceptable4o the Mortga-
<br />' gee. In the event any policy is lot renewed on or before tendays of its expiration:' the Mortgagee may procure' insurance oil the
<br />improvements, pay the premiumiithcrefor, and such sum shall become immediately due •ail& payable with interest, at the rate set
<br />forth in said note until paid ancl'shall be secured by this mortgage. Failure on the hart of the 1lortgagor to fdruish such renewals
<br />,as are herein required or failurelo pay any sums advanced hereunder shall, at the option of ilio Mortgagee, constitute it default
<br />•cinder the terms of this mortgage! The delivery of such policies shall, in the event of default 'ciiirstitute all assign Trent of the un-
<br />earned premium.
<br />Any sums received by fhe Mortgagee.' by, reason of loss or damage inspired against may he retained by the Mortgagee
<br />and applied toward the payment of the debt hereby secured, or, at the option.of ;the Morthagec, such sums -other wholly or in
<br />part may he paid over to the Mortgagor to be lined to repair such buildings or;to build new buildings in their.place or for any
<br />'other purpose or object. satisfacttpry to the Alortgagee without affecting'thc lien -on the mortgage for tine full amountsecured here-
<br />-by before such payment over tool: place.
<br />To promptly repair, restore or rebuild any buildings or improvements now on•hereafferon the•premrces- which maybe -
<br />come damaged or destroyed; to keep said premises in good condition and repair find free front any mechanics.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 nor -to permitwaste on said premises, nor to do any other act wliereby tlie 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 or, 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 improvemunt,or'condemnation
<br />proceeding, or under tine 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 omit. prosecute in its
<br />own name any action or proceeding, or to make any compromise or settlement in connection with such taking or'tlamagc. All such
<br />.compensation, awards, damages':right of action and proceeds are hereby assigner) to the ivloitgagee, who may, after deducting
<br />therefrom all its expenses, releasi! any, moneys 'so received by it or apply the same' on any indeljtedness secured }iereby..The Mort-
<br />`gagor.agrees to execute such further assignments of any compensation, awards,'damages; and rights of action and proceeds as the
<br />Mortgagee may require.
<br />That in case of failure tci perform any of the covenants herein, the Mortgagee may do on. the Mortgagor %;behalf evervthing
<br />so covenanted; that the Mort.gagec may also do any) -act it may deem necessary to piotect fhe!}ien thereof; that, )lie Mortgagor will
<br />repay upon demand any moneys< paid or. disbursed' by the Mortgagee for any of the above purpcas�s, and such moneys together with
<br />interest thereon at the rate provided in said note shall become so much additional indebte'duess hereby secured'and may'be'in-
<br />.cluded in any decree foreclosi ng'ithis mortgage anil 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 validit} of any lien, encumbrances, or claim in act-
<br />vancing moneys as above authorized, but nothing -herein contained shall be construed as requiring the Mortgagee: to advance any
<br />nnoneys foe any such purpose nor` to do any act hereunder; and that Morfgagee shall riot incur',ru y 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 regtii'd by- the Not secured hereby,: or
<br />in the performance of the obliga(ion in this mortgage'or in the note secured thereby, the Mortgtigee shall he entitled to declare the
<br />debt secured hereby due and payable without notice, and the Mortgagee shall be entitled at; its olition, without notice, either by itself
<br />or by a receiver to be appointed' lay the court thereof, and without regard to the adequacy, of airy security for theindebtedness se-
<br />cured hereby; to enter upon anil 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 beiing hereby assigned to the Nforigageeas furtlier security for the ptiyment of all indebtedness securccd hereby.
<br />The Mortgagee shall hake the power to appoint any agent or agents it may desirL,'. for the purpose of repairipg said prem -
<br />ices; renting* the same; collecting the rents, revenues and income, and it may pay out of said income all expenses incurred in renf-
<br />ing and managing the same, anti of collecting the rentals therefrom. The balance remaining, if any, shall be'applied. toward the
<br />discharge of thm
<br />e ortgage indelitedness. This assignment is to terminate and lxcome null and void upon release' of this mortgage.
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