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9091
<br />THIS. MORTGAGE IS ALSO.T0 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 THE MORTGAGOR, AND
<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 TURTHER 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 sannis is free and clear of any lien or encumbrance; and that Mcirtgagor will warranb.ar1d defend the
<br />title to saint premises against the' claims of all persons whomsoever.
<br />To `pay immediately when due and payablii all general taxes,especial taxes, special assessments, water charges, sewer serv-
<br />ice charges, and other taxes ane] charges agat
<br />inssaid 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 'be added to
<br />each monthly paynient 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 becomes due, all taxes, assessments; and similar charges, upon the prem -
<br />ices subject thereto; any deficiency because of the' insufficiency of such additional liayments shall be forthwith `deposited. by the
<br />Mortgagor . with the lvlortgagee upon demand by the Mortgagee. Any default under this paragraph shall be deemed a default;in
<br />payment of taxes, assessments, of similar charges 'required hereunder.
<br />The Mortgagor agrees thatthere shall also be added to each monthly paIment of principal and interest. required here-
<br />under in amount estimated by the Mortgagee to be:sufiicient. to enable the Mortgag,ce to p n} a s it becomes due; the insurance
<br />premium on any insurance policy delivered to t.heaMortgagee. Anv deficiency because of the. i6sitfiicieucy of such: additional pay-
<br />ments shall he forthwith deposited by the Mortgagor with the Mortgagee upon demand by tlie'.Nlortgagee. Any default under this
<br />paragraph shall be, deemed a deftlult in the payrnent'of ,insurance premiums. If the policy or policies deposited are such as home=
<br />owners or -all risk policies, and th;e 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 />:r
<br />layrnents made by the Mortgagor under the above, paragraphs may, at the option of; the Mottgagee,.hi>: held by it. and
<br />commingled with other such funds or its own funch for the payment of such items,. and i of it so! applied, such paynients are hereby
<br />pledged as security for the 'unpaic•1 halance;of the mortgage indebtedness.
<br />To procure, deliver to, and maintain for the henefi.t of the Mortgagee during the life of -chis mortgage original policies and
<br />renewals thereof, delivered at least ten days before the expiration of any such policies, insunt�, against fire and other insurable
<br />hazards, casualties -and contingencies as the Mortgagee may require, in an amount equal to ',tile indebtedness ` secured by this
<br />Mortgage, and in companies acceptable to the Mortgagee, Stith loss payable clause in;,fanvor 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 l•herefor, and such stun shall become immediately*. due and liayinterest
<br />'.'at. with interes'at.. the. rate set
<br />forth in said note until paid and shall he secured.by this mn th
<br />mortgage. I-ailure oil part of the Mortgagor to furnish such renewals
<br />as are herein required or failure to pay any sums dvanced •heretinder shall, at the 'opt.ion 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 assigrit roenof the un-
<br />earned premium.
<br />Any suras received by the Mortgagee by reason of loss or damage insured against may be retained" `hy the. Mortgagee
<br />and applied toward the paymenf of the debt hereby secured, or, at. the option of!the Mortgagee, such sums.either wholly or in
<br />part may he paid over to the Mortgagor to be used to repair such buildings or to !build new buildings in their ryilace or for any
<br />other purpose or'object satisfactory to the ivlortgalgce without affecting file lien pn;the mortgage for the full amount secured here-
<br />by before such payment ever tool: place.
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<br />To promptly repair, restore or rebuild any buildings or improvements nit}v or pereailer on the premises which may -be-
<br />come damaged or destroyed; to kitep said premises'in, good condition and.repair and free:from'ally mechanic's 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 permit waste on said premises, nor to do any other act, whereby th'e property hereby conveyed: shall become
<br />less valuable, nor to diminish or impair its value by any act or omission to let; to comply wit.II all requirements.of la'%y with respect
<br />to the mortgaged premises and tli� use thereof. '
<br />That should the premises or any part thereof be taken or damaged by reason of .inv public improvement or condemnation
<br />proceeding, or under the right of'eminent domain, or in any other manner, the i\1i)rtgagise shall be entitled to .all 'compensations,
<br />awards, and any other payment Or relief therefor, and shall'be entitle(], at its option, to commence, appear in .roil. prosecute in its
<br />town 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 />l-herefrom all its expenses, release any. moneys so received by it or apply the same on any indebtedness secured hereby.,'I he Mort-
<br />gagor -agrees to execute such further assignments.of any compensation, awards, "ddrTrages and rights of action and proceeds as the,
<br />\,fortgagee may xequire.
<br />That in case of failure tci perform any of the covenants herein, the Mortgagees may. do on. the Nlortgagor's'behalf everything
<br />so covenanted; that the Dfortgagiie may also do any. act it may deem necessary to protect t}ie-lien thereof; that the Mortgagor will
<br />repay upon demand any moneys'. pais] or disbursed by the iMortkagee for any of the above purl i?ses, and such moneys together with
<br />interest thereon at the rate proiided ice said note shall become so much 'additional` indebtedness hereby secured rind may be in-
<br />cluded in any decree foreclosing;'this mortgage and' he paid out of the rents or proceeds of salt. of said premises if not. otherwise
<br />paid; that it shall not be obligatory upon the Mortgagee to inqujre irrto ;the validity of: any l.it,n, 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 fcir any such purpose nor`, to do any act hereunder, and that Mortgagee shall not incurariy pgrsonal liabiliiy because of any-
<br />thing it may door omit to do her.'eunder.
<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 securer] thereby; the Mortgagee shall be entitled,to declare the
<br />debt secured hereby due and payable without. notice, and the Mgrtgagee'shall be entitled at its'olition, without notice', either by itself
<br />or by a receiver to be appointecltby the court thereof, and without regard to the adequacy of any security fqr the indebtedness se-
<br />pur6d hereby, to'enter upon and take possession of the mortgaged premises, and. to':collect, and receive the rents; issues and profits
<br />thereof, and apl.ly 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 sill indebtedness secured hereby.
<br />The Mortgagee shall hake the power to alipointany agent or agents it may desire, for the purpose of repairing said prem-
<br />ises; renting the ame; 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 applied 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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