|
-009854'
<br />THIS MORTGAGE IS ALSO TO BE AND CONT INUE TO..BE., FROM TIME T6;TIME,' SECURITY FOR'T.HE 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 NOTEStO.BUTTHE TOTAL INDEBTEDNtSS* SECURED BY THIS MORTGAGE* SHALL NOT
<br />EXCEED ONE HUNDRED TWENTY (120) PER CENT OF THE AMOUNT NOW OWING, �XCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br />TO PROTECT THE!.SECURITY IN ACCORDANCE WITH THE TERMS OF THIS MORTGAGE.
<br />THt MORTGAGOR FURTHER COVE4ANTS AND AGREES:
<br />That tile 'i'lortgagor will pay tile indebteilness as hereinbefore provided.. 1,;
<br />That We. i�lortgagor is the owner of said �Iiroperty ill fee simple and I . las good right and lawful auth'orit,, to sell and'
<br />convey the sanie and,that tile same is free and clear of lily lien or encumbrance; anol Nlortgagor will warrant and defend the
<br />title to said premisCs"agaillst, tile clainis of.all persons whoinsciever.
<br />To pay immediately whell (file alld'pavable* all general taxes, special taxes. spkial asses.�Inelits, %vater charges,' sewer serv-
<br />ice charges, and other. taxes all(] charges against sajok property. and all taxes leviecl ()It ill(! debt secured herehy. and to furnish the
<br />Nfortgagee, I
<br />ipon retitiest, with tile original or duplio,,ate receipts tberelor. Tit(, NIcirtgagor—agrees that there shall he ad&(l to
<br />each m0IIfIllY PaYll�elit required herounder or under.the e\"idence of debt secured lierehY Ili aniount estimated (I).' Ihr, Mortgagee
<br />10 Ile su , fficii'llt to ellable the Mortgagee to pay, I,, they become due, all taxeS. assOsSillents, and similar cliarge,; upon the proill-
<br />ist's subject thereto; '1*11y, deficielwN becauqc of tile ilislifficiencN of such additional Payments shall he forthwith depo,,ited bY the
<br />Mortgagor with tile A.,Iortgag��e upon denland In ill(- Mortgagee. Any default. under this paragraph sh,,111 be devinc(l a default ill
<br />P,"Y'llent of -taxes, as.�essnivnts, or similar charges re'
<br />quired heremider.
<br />The IN11ortgagin- agrees that there shall also be a(j(Ic(j to each Monthly ji�ayplvlit of principal ;Ili(] interes'. : re(juired here-
<br />under Ili anl0i'llt ('stil.11ated by, ill(! Nlortgagee, to be sufficient to ellable the IN-Tortgagee to pay, �js it IKTOIIIC�1; (111c.' flit, insurlince
<br />promium (kit zfliy insti.rance polic-,, delivered to tit(! Mortgagee. Any deficienev beCILIS(' of file i list] fficielwv of such fidditional pay-
<br />I'lents shall he fortliwith rlepo.�;jte(l by the Mortgagor with flic 1%jortgagee upon demand I)v the Anydefilult, on(Ier filis
<br />paragraph shalt be deerned a default in tile payment ol insurance premiums. If ill(. policv or policies deposit,l are,slIcIl as ljoute-
<br />owners.or all riSI1 Pol - iCiVS. and tit(-' (10I)OSitS are inslifficiOnt to 'Pay file entire prem.imn, flit, '\Iortgageo maY apply the deposit ill
<br />pay premiums oil risks required to be in.qui-ed by this -mortgage.
<br />PaYmUllb; adde bv the Alortgagor under tit(, above paragraph', "Illy. 'It tlli� 6Ption of the Mortgagee, be . held by it and
<br />commingled with other st,011 funds or its own filli(is for ill(, payinellf
<br />I of such iterns; and until So aPPlied, sold' Pay'ri(Ints are h(-rvbY
<br />PI(1d.,Vd as security filr ill(' bakince of the mortgage indel)te(Illess.
<br />To procure,"deliver to, and mainUlin for th�, bellefit of tit(- Mortgagee 'it,(. life*of t1lis Inortgage, origi lial policies allot
<br />rerie%valq thereof, dolivered at least tell days before fli(� expir.,itioll or all,,. policies. instiringr against. fire ind.otlier histimble
<br />hazards, caslialtic,�-, and contingencies as the Mortgagee may require, in an - arniii I lit . t . equal to tile indebtedness .9ecure(I I)y tilis
<br />Mortgage. and ill colilimnip.s� acceptable to ill(,. %%,itll loss pa
<br />yable clause.ill f-, :.or of and in form acceptal)lf. to ill(, '�%lortga-
<br />gee. Ili the event az'i.-�-. *policy I'S' not rem,wed oil or bt;fort, fell daYs of its expiratiolT, . flit, NTortgagee may procuro hismalle( . , oil the
<br />improvements, pay t1K."pi-4-alillill illerefor, 111(1 sucil
<br />sil,ril shall bec�irile iinniediateiv and IMY:1ble With interest M tit(,
<br />forill in Said noto until paid and sliall be secured It.%-, 1.7lis Mortgage. Failure oil file phrt. of flit, NlOrtgagor to furnish SL
<br />-is are I - req. i . ich renewals
<br />iorein . uired.or fililllre to flay ally Sun).,; ]( � -01)tioll (if the Nlorigag( constitil . to a default
<br />]Vzlliced hereunder shall, �jt ill(`
<br />under the terms of th'is ino y of such policies shall, ill ill(! event of %I(I'allit, cons(itute an as�4iglllncrll of the
<br />The (Ivjivi�r'
<br />carried premium.
<br />,V6v'sunis', received I)v the Xlortgagec' I)N re,2s.011 (if loss or damage insured against, rilaY he retained hV, gagee
<br />'Ind applie( dw i�birtg
<br />.1. toward the paynient of-tIle debt 'herebY suctired, or. at tile oPtio" of -ilAe �'NlOrtgagct', stlell sinns eitlwr wholiv or in
<br />part rilaY he paid o%*'el- to the Nlortgagor to, lk� lised t(:) repair SLICII b1li)(lingS or' to J)Iiij(l ' IleNv i
<br />I bUildillI., ill their place or for ajiv
<br />other purpose or object.satisfactory to the Nlorigagoe* witholit affecting,
<br />I tile lien oil ilw Inortga"'efor ill(, full :1111ount svellwd Iter-C.-
<br />bN b4ore stii-h payinent. ever took place.
<br />To promplIN rej�;Iir. restort. or rehuild any huildill� or improvements now (ir hereafter oil tit,, promises which.111,1N, hio-
<br />conit, daninged or destro * ved: to kcUj) said premises in good condition and repair and free from xllNl illechallic's fien or other lien . ir
<br />claim of liefi not expressly subordinated to't.11(! lien llefenf: lot to suffer or pernlit ally unlawful 11 -4 -o -of or allY nuisance to v.xist o'll
<br />said property nor to permit Waste on said premises, nor to (to aliv oilier act Whereby tho propertv herehv conveye -corne
<br />d shall bt
<br />less valuable. nor to (11,millisli or impair its value hy ally ad. or ornission to n(j: jo c0nlj)I%- Nvith all requirements (if 1�1\%. with respe< . 4
<br />to tit(! mortgag'ed premises all(] the use thereof. i
<br />That. '411ould it)(? premises or am
<br />Y part thereof I)v takell ill' darnaged by reason' of 'III.V J)LIbliC improvement or condemnation
<br />proceeding, or under file right of erninent, domain, or in Ili%, other manner, tl' ' -I,
<br />awards, and lily other 1),ayment or relief therefor, atilt shalf I(, ivlortgzgee sliall be entitled to all colnpensatioll',�,
<br />be entitled. at its option, to continence, appear in and p.rosecute ill iis
<br />()%Vjl nallie.ally action 'or proceeding, or to make any. oi' sefilvnievt in colln('ctioll With such taking or darnage. All s�iicli
<br />corn pensat ion, awards. damages, right of actioll'and proceeds are hereby assigned t;) ille Nlorfgagee, w1jo olaY. after dedtjctinlz�
<br />therefrom all its expenses. release any nioneys so received 1) , v it or apply tit(! sarne oil an,�, in(jej)tedtless secured licrebv.The Mort-
<br />gagor agrees to executo such further assignments of .111Y. compensation, awards. dalnage.'4. and ri.clits (if action and pr("covd., ;is ill . v
<br />Xfortgagee may require.
<br />That in case of failure to perform any of the co veriants hervin. file j%lontgageu may (10 (Ill tile Nlortgagor's bvh,,df rythin . g
<br />e%T
<br />so coverian ' tell; that the INlortgagve may also (to ally ;let ii, Illav deelli necessary -it) Protect tile liell fliereof: that ill(. Nino
<br />repay upol I gagor xvill
<br />I-dernand ally Illoneys paid or disbursed 1).% ill(- iNlor(gagve for anv of the above purposes, Ili(] sticil liloneys together with
<br />interest , thereon at. flie'rate provided ill,sai ' (I note 1,11,111-beconio so oluell herebY secured and Illly Ile in-
<br />cluded il�i any decree foreclosing this, mortg."ge and Ile Paid out of tit(, rents or proceeds (if salt, of s;li(l premises if''not tit 1( i,
<br />paid: th.af, 'it sliall not be obligatory ill)()" ill(' Nforl,-190o to inquire into tile -alidit�.`)f 111\1 I �m% se
<br />g % . lien, encumbrances, ill ad-
<br />valicing moneys as abo\�c alifliorized. but rl�thillg herein ; contain(?([ gliall I)(- comst, requiring the Nlortgagee to advllllc(� any
<br />moneys for any such 1) tirpose nor to do anv7avf, herounder; and that Nlorigagee sliall n6i incur any personal lial)ilitv
<br />nf any-
<br />fllili�� it nIaN "In or ornit to (to hereunder.
<br />�Jro the event -()*f. tile (](!fault by i0ortgagor in the
<br />paynient. of any required h� file \lot(. se(-nrvd hereliv. or
<br />in ill(- per(ormal'ice of file obligation ill tIlis mortgage or ill tile note secured thereby, tile iNlortgragee sliall be entitled twdcclar(.� tile
<br />debt. smired hereby due and payable witliolif notice, and tit(! Mortgagee shall he entitled at its option, without notice. vither 1)
<br />y itself
<br />or by ;I receiver to, be'aPPointed by file court. tlivieoif, an(] without regard to tile adequac.v 0f.anY S(Ictlrit * v for ill(, indebtedness se.
<br />cured hereby, to enter upon and take possessioll of tile mortgaged premises, and to Collect and receive the rents, issues all( I profits
<br />thereof, and apply �tlw, sartle, less ' costs of operation,an(l . collection, twort the ifidebtedriess secured 1)
<br />- and profiLs Ix-ing hereby assigned to tile Nlorfgage6 �is further security for tile' payment of all iII(rpI)tc(IjIesg wellre(I lierobv.
<br />issue. y this mortgage: sai(I rents,
<br />'I'll(- Mortgagee Owill have the POWP", to aPP!)illf, any agent. or' agents it may de . sire for tile purpose of repairing sai(t prern-
<br />ises: renting file sarne: collecting file rents, revenues and income, anQ it ma s I
<br />Y I)-.IY Out (If .9;lid incOlue all expense, incurred i I rent-
<br />ing and managing the sinne inid of collecting the rentals therefrom. The balance reinaini ng. if any. shall b(. toward the
<br />disviiarge of the mortgage i ndebt ed ness. This assignment is to fernfinate allot become null and-voiJ upon reIV.'ISe of this mortgage.
<br />62
<br />
|