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00'9634
<br />THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO. BE, FROM TIMEJO TIME, SECURITY FOR THE PAYMENT OF SUCH
<br />SUM OR sums bF -MONEY AS THE MORTGAGEE MAY FROM TIME TO T - IME 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�HUNDOED TWENTY (120) PER CENT OF THE AMOUNT NOW OWING, EXCEPT FOR ANY ADVANCES THATJMAY BE MADE
<br />TO.PROTECT IN ACCORDANCE WITH THE �ERMS OF THIS MORTGAGE.
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<br />THE MORTGAGOR FURTHER COVENANTS AND AGREES:
<br />That,ttle.Mortgagor Nvill;l),,Y the indebtednf,,ss as hereinbefore provided.
<br />That ti * ie, Mortgagor is tile owner of 'said 11roperty in fee simple and has good right all(] lawful authori I tY to sell and
<br />anic and that tile same is free all(] clear of any lien or encumbrance; and , that w1ortgagor will warrant and defend the
<br />convey tile s,
<br />tifle to said premises agaiiist ill
<br />e claims of a.11 persons whomsoever.
<br />To pay.imrAediatcly when due and payable all general taxes, special taxes, spe6ial asse."nients, water charges, sewer serv-
<br />ice charges, and other taxes * ind charges against said property, and all taxes levied oil the debt secure(] hereby, and to furnish the
<br />Alortgagc�, upon request, Nvith the original or duplicate receipts therefor. The Mortj�agor agrees that, there �;Iwill he added to
<br />each monthly Piyment required hereunder or under tile evidence of debt secured hereby in amount estimated by ill(.- -XIortgagep
<br />to be sufficient to ellable tile IN'lortgag"ce to pay, as they becOn due, aH taxes, assessments, and similar chargo�s upon the prem-
<br />ises subject thereto; any defic'ellev heca(Ise Of tile insufficiency of sitch additional -payments sliall he forthwith leposited by ille
<br />Mortgagor with the Mortgagee Iwon demand by the Nlortgagee. Any default under this paragraph shall he (jf,,jjje(I a default ill
<br />IMY1110"t Of ta%es, assessments, or similar charges reqpired heretinder.
<br />"'The, INIm-tgagor agrecs that there shall also lj' "doled to each monthly 1),tyment of principal ,Ill(l i ilteri-st required fierc-
<br />e ,
<br />irrid�,r an-a.mount estimated by tile Mortgag". to he able the Mortgagee to pay, tis it IwConles (file, tile insurance
<br />sufficient lo en,
<br />!I'll"- oll lily insurance poIicY;delive're(f.jto tile' Nlorigagee. Any deficiency heca
<br />use Of the instIffici-ley Of such additional pay-
<br />r�elils.sjlall he fo,rililyith depositeo�l by the I'vlortgagor with the INJortgagee upon demand bY ill(, Nfortgagee. Any default under this
<br />13.4r grapli.s!yall be de
<br />emed a default it, tile paynio�nt of insurance premiums. If tile polic ' y or policies depositp(I Ire s,leh as home-
<br />owners or all risk 1)olicies, and tile deposits are insufficient to pay tit(! entire'premium, file INfort-agee may apply tile (leposit to
<br />p,�y premiums on. risks required to be insured by this mortgage. � g . -
<br />Payin ents mi tole by tit(-- i% ; 1ortgagor under tile above paragraphs may, at the option of 'ill(! lklortgagee, ! )e held hN it all(I
<br />colm-ningled N�"ifh other such full(].,; or its own funds for the payment of suell ifems,,and until so applip(l, slich payments j "
<br />I)ledg ed as security for the unpaid balance of ill(- mortgage indebtedne,,s. re hpreh.v�
<br />To procure, deliver to, and mainta in for the,benefit of tile Niortgagee during tile life Of this mortgage origi nal I)olici(-,.-; and
<br />renewals thereof, delivered at least fell daNS before the expiration of any stiell' policie
<br />.S, insuring against fire and other insurahle
<br />hazards, casualties, and contingencies as the Mortgagee may require, in an' amount equal to the indebtedness secured by this
<br />Nfortga;re, and in companies acceptable to the Mortgagee, with loss Payable Clause in favor 'of and in form acceptahle to tile' Nlortga-
<br />gee. In the event in), I)olicy is not renewed oil or before ten days of its expiration, the Xfortgagee may pr6cur(I instiranco. oil tile
<br />improvements, imy the premium therefor, and Such stull sh,,111 hecr)nie immediately (Ille allot plYablv with intere.st it the rate set
<br />forth in said note'until paid and shall be secured by this mortgage. Failtire, oil ill(! part of the iNlortgagor to furnish such renewals
<br />-v
<br />. -, tire herein required or failure to pay any stin's advanced hereunder shall. at the option of ill(- lNlortgagve. co'nstitute a default
<br />under the ternis of this mortgage. 'I'lle delivery of stich policies sh,,111, in
<br />earned premium. 111` event Of (Jefatilf, cOnstitiltv all assig1liment of, the tin-
<br />Anv sums received by the Nlortgageo, by reason Of loss or (].image insured agailist. may he'
<br />and appliec retained by the 1%lortgagee
<br />I toward the payment Of ill(! (lebt. hereby si,cured, Or, at tile OI)tioll of the NIortgagee, such skims vither wholk, Or ill
<br />part may he paid over to the IN-fortgagor to he used to repair such buildings or to build'new buildings ill theill Iflace or for any
<br />other purpose or object satisfactory to the Nlorlgagce Nvith6ut, affecting the lion oil the mortgage for the fill] here-
<br />by before stich payment ever took: place.
<br />'Fo promptly repair, restore or rebuild lily huilding-s or improvenionts now or hereafter oil the premises which nl;jv he -
<br />come damaged or destroyed; to keel) said premises in good condition and repair and free from any mechallic's 1:
<br />Jen:or other lien or
<br />claim Of lien not expressly subordinated to tile lien hereof: not to stiffer or permit any unlawful ljs(� Of 0'
<br />r any nuisance to exist on
<br />sa " id property nor to permit %%,,,sit- on said premises, nor to do any other act whereby,flit! property hereby conveyed shall 1) . (,come -
<br />less valuable, nor to diminish or impair its %,.,title fly my let or omission to ict.;,to cOjIlpjY with all require'n-lit-1; (if law with respect
<br />to.the mortgaged premises and the use thereof.
<br />That, should ill(! premises or ;Ill.%, part thereof be taken or damaged by reason of alp,' Iniblic improvellient or condemnation
<br />proceeding. or under the right. of emillent domaill, or in Illy other manner. the Nfortgagee 'shall he entitled to pil Coil) pe IISA I i oils,
<br />awards, and an� other payment or relief therefor, and shall be en'titled, tit. its option, to commence, appear in aild prosecute in its
<br />o%vii name any action or proceeding, or to make all), compromise or settlement in connection with such taking OF damage. All such
<br />compensation, awards, damages, right (if action and procceds are hereby as.signe(I to tile Nlortgague, who ma ' v. after deducting
<br />therefrom all its expenses, release any moneys so r.eceived fly it or apply file same oil any indebtedness secured t'iereby.The 'NIort-
<br />gagor agrees to execute such furt.her assignments of my compensation, awards, damages, and
<br />Mortgagee may require. rights Of aetion allot proceeds as tit(!.
<br />That in case of failure to perform auv Of tile covenants herein, ill(- Nlortgagee may do oil tile Nlortgagor's' behalf everything
<br />so coverianted; that tile A110Hgagee, may also do any act it may (Icen, necessary to protect tile
<br />repay upon demand any moneys "paid or dishursed by tile Mortgagee for in lien thereof; that the I lkli)rtgagor will
<br />y of tile ahove PlIrPOSeS, and Such IIIOnVNS together with
<br />interest thercon at the rate provided in said note slla*ll become so much additional indelitedness herebly secured and may be in -
<br />eluded in any decree foreclosing this mortgage an(I he p,,jid out of the rents or proceeds of sale of said I premises if not oiherwise*
<br />paid; that it shall not. be obligatory twon the 'Mortgagee to inquire into ill(! validitv Of an', 'fiell. encumbrances. or clairn in ad-
<br />vanci�ng moneys I*.,; above aut.horiz"ed, but nothing hercin contained shall he construed as requiring the Nlortgag(le to advance any
<br />moneys.for any such purpose norto (to any act hereunder; and thtit Mortgagee shall not incur in.%, personal liability becajlsj� Of any-
<br />thing it may do or omit to do hereunder.
<br />In tile event of tile defallit by Mortgagor in the payment Of anY'ilistallment, is required fly the Note secuited hereby, or
<br />in ill(,- performance of the obligation in this mortgage or in tile not(' Secured thereby, the I'Viortgage
<br />debt secured hereby due and paya' I e shall he entitled to declare the
<br />ble without notice, axici the INfortgagee Shall he entitled at its, Option, without llofic�. either fly itself
<br />or by a receiver to be appointed by the court thereof, and withou'l, regard to the adequacy of any �eeurity for thel hidehtedness se-
<br />,cu.red hereby. to enter upon and take possession of the mortgaged premises, and to collect. and receive the rents,'issues and profits
<br />thereof ' and apiply the same, less Costs of operation and collection, twon file indebtedness secured by this mortgage: said rents,
<br />isslle.t; and 1.)rofits being hereby assigned to file Mortgagee as furthe'r security for the payment of.all indebtedness hereby.
<br />'Phe Mortgagee shall have the power to appoint any agent -or agents it may desire for the InImose of repairing Said prem-
<br />ises; renting file same: collecting the rents, revenues and income, and it may pay out Of said income all expenses incurred in rent-
<br />itig -and managing the same and -of collecting tile rentals therefrom. The ba
<br />discharge ol"the i�j , ort . a lance remaining, if lily. shall be applied to%'vard the
<br />gage Indebtedness. This assignment is to terminate in(! become mill and void uf)on release Of this mortgage.
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