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009B83
<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 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 0 1 F 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 will pay the indebtedness as liereinbefore provided.
<br />That the'Mortgagor is tile 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 clear of any lien or encumbrance-, 'and that Mortgagor will Nvarrane and defend the
<br />title to said premises'against the claims of all persons whomsoever.
<br />To pay immediately whert due and payable -all general taxes, special taxes, special assessments, witer charges, sewer serv-
<br />ice charge.,;, and 6ther taxes and charges against said 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 AJortgagor agrees that there shall be added to
<br />each monthly payment required hereunder or under tile evidence of debt secured horeby all amount estimated by the Mortgagee
<br />to be sufficient to enable' the lvlorlgage�- to pay, as, they become due, all taxes. assessments. and similar charg" upon tile prem-
<br />ises subject thereto; any deficiency because of the insufficiency of such additional payments shall he forthwith (leposited by the
<br />Mortgagor with the Mortgagee upon demand by the Nlortgagee. Any default under this paragraph ,;hall be devilled a default in
<br />payment of taxes,' assessments, or similar charges required hereunder.
<br />rphe Mortgagor agrees that there shall also be added to each monthly payment Pf principal and interest required here-
<br />undoir all amount estimated by the Mortgagee to be sufficient to enable the INlo . rigagee to pay, as it becomes oluo, the insurance
<br />premium oil any iiisurance policy delivered to the Mo'rtgagee. Any deficiency because of tile insufficiency of sucll� additional 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 tile policy or policies deposited lie such as lionle-
<br />owners or all risk policies, and the deposits are insikicient to pay the enfire premium, the I'vlorigagee, may appi I file deposit io
<br />pay premiums on risks required to be insured by this mortgage.
<br />Payment,; made by the Mortgagor under the above paragraphs may, at the option of the Nlortgagee, I)(! held by it. and
<br />commingled wiih other such funds or its own funds for the payment of such iterns, and unti I so.applie(l, such payr�ionts ire hereby
<br />])lodged as security for the unpaid*balance of the mortgage indebtedness.
<br />To procure, deliver to, and maintain for tile. benefit. of the Mortgagee (hiring tile life of this mortgage original policies and
<br />renewals thereof, delivered at least, tell (lays before the expiration of my 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 file Mortgagee, with loss payable clause ill favor of and ill form acceptabi I e to file Mortga-
<br />gee. In tile event my policy is not renewed oil or before tell (lays of its expiration. the Nlortgagee may procure insuranceon the
<br />improvements, pay tile premium therefor, and such stun ,;hall beconle inimediate1v (Itiv and payable with interest at (lie rate set
<br />forfli�in ,;aid note until paid and shall be, secured by this mortgage. Failure oil the part of the Nlortgagor to furnish such renewals
<br />as are herein required or failure to pay any sums advanced hereunder shall, at tile option of tile Nlortgagee, constitute .1 default
<br />-age. The delivery of such policies shall, in tile event of defat It, -constitute all assign inent. of the tin -
<br />tinder the terroe; of this mort,
<br />earned premium.
<br />Any sums received by the Mortgagee by reason of los,, or damage insured against may be retained by the Nlortgagee
<br />-in([ applied toward the payment of the debt herLby secured, or, at. the option of the Mortgagee, such sums vidler wholly or -in
<br />part may be paid over to the INIortgagor to be used to repair.such buildings or to buildings in their. . place or for any
<br />other purpose or object satisfactory to tile Mortgagee without affecting file lien on the mortgage foi- the full amount secured here-
<br />by before such payment ever took place.
<br />To promptly repair, restore or rebuild any. building-,; or improvements no\%, or hereafter oil the premises which may be-
<br />come damaged or destroyed: to keep said premises in good condition and repair in(] free from any mechanic;s lie,11 or 'other ]tell or
<br />claim of lien not expressly subordinated to tile lien hereof; not to stiffer or permit ;my unlawful use of or �lny nuisance to i,xist on
<br />said property nor to permit waste on said premises, nor to do llliy other act whereby the property hereby conveyed shall becionle
<br />less valuable. nor to diminish or irripair its value by ;my ;let or ornission to let: to comply with all requirements of'liNv with respect
<br />to the mortgaged premises and the use thereof.
<br />T -it should the premises or any part thereof be taken or damaged by reason of any public improvement lor condemnation
<br />It,
<br />procceding,'or under the right of eminent domain, or in any other, manner, tile Mortgagee sliall he ehfitled to all compensations,
<br />awards, and any btlier payment or relief therefor, and shall be entitled, at its option, to commence, appear in and prosecute ii) its
<br />own name my action or proceeding, or to make -any. conipromis6 or settlement in connection with such taking or damage. All such
<br />compensation. awards, damages, right of action and proceeds ar(- hereby assigned to the Mortgagee, who may,- after deducting
<br />therefrom all its expenses, release any moneys so received by it ol apply the same oil any indebtedness se . cured lierchv. The Nlort-
<br />gagor agrees -to execute such further assignments of any compensation. awards, damages, and rights of action and procceds is tile
<br />Nfortgagee may require.
<br />That in case of failure to perform any of the covenants herein, the Mortgagee may do oil the Nlortgagor's behalf everything
<br />so covenanted; that the Nlorfgagee may also do any ;let it may deern 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 monjc�ys together with
<br />interest thercon at the rate provided in said note shall become so much additional indebti-dness*herLbv secured and may be in -
<br />chided in any decree foreclosing this mortgage aud be paid out of the rents or proceeds of sale 'of said premises: if not otherwise
<br />paid; that it shall not he obligatory upon the Nfortgagee to inquire into the validity of any lien, encumbrances. or claim in ad-.
<br />vancin . g moneys.ds'above authorized. but nothing herein contiined shall be construed as requiring tile Mortgage(! to advance my
<br />moneys for any such purpose nor to do my let hereunder: and that Mortgagee shall not incur any personal liability because of anv-
<br />thing it may do or ornit. to (to hereunder.
<br />In the event of the default by Mortgagor in the payment of ,my i . nstallment, as required by the Note secured hereby, or
<br />in the performance of the obligation in this mortgage or in tile note secured thereby, the Mortgagee shall be entitled to declare the
<br />tlebt; secured hereby due and 1)ayal;le without notice, and file Mortgage e. shall be entitled it its option, without noti 6e: either by itself
<br />or by a receiver to be appointed b� the court thereof, and -without regard to the adequacy of any security for the indebtedness se-
<br />cured hereby, to enter upon and t.hkc possession of the mortgaged premises, and to collect and reco�ive the rents', issues and profits
<br />thereof, and apply the same, less costs of operation all(] collection, upon tile
<br />indebtedness secured by this mortgage;, said rents,
<br />issues and profit,,; being hereby assigned to the Mortgagee as further security for tile payment, of all indebtedness s(.Tured hereby.
<br />71le Mortgagee shall have: the power to appoint any agent or agents it may desire for the purpose o f rep�uring said prem-
<br />ises, renting the same: collecting tile rents. revenues and income,and it may pay out of said income all expenses!incurred in rent-
<br />in� and managing the same and of collecting the rentals therefrom. Tile balance remaining, if my, shall lie ariplied toward the
<br />discharge of file mort ageindebtedness. This assignment is to terminate and'become null and void upon relense;of this mortgage.
<br />g,
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