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00-9935
<br />THIS MORTGAGE IS"ALSO TO BE. AND CONTINUE TO. BE, FROM TIME TO TIME, SECURITY FOR THE P.AYMENT 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 BYA 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 will pay the indebtedness as hereiribefore provided.
<br />That 'die Mortgagor is the owner of said property in fee simple an(I has good right and lawful authority to sell and
<br />convey tile san'lo.and that the same is free and clear (if any lion or encumbrance; and that Nlortgagor will warrant and defend tile
<br />title to said prZmiscs against, tile claims of all porsons whomsoever.
<br />To pay; immediately when due and payable all general taxes, specialja�es, special assessnients, water charges, s(!%ver serv-
<br />ice charges. and other taxes and charges against �aid property, and all taxes J levied oil the debt. secured hereby, and to furnish ill(?
<br />Mortgagee, upon n(piest, Nvith the original or. duplicate receipts therefor. The Mortgagor agrees that, there shall be a(med to
<br />each monthly payment required hereurider or under the evidence Of debt se6urcd hereby ill aniotint, estimated 1) ' v the
<br />nts. , not similar charges upon flie proin-
<br />to lie -sufficient to nable tile IN'lortgagee to pay, 'as they become (Ille,,all taxes�, assessille I
<br />ises subJect the reto; any deficioney because of the insufficionc." of such addifional pioyinents shall lie forthwith deposited by the
<br />Nlortgagor Nvith tile INIortgagee upon demand by the 'Nlortgagee. Any defaultunder this paragraph shall be dei.-med a default in
<br />payment of taxes,'assessmont,,, or similar charges required hereunder.
<br />The Nlortgagor agrees that there shall 'also lie added to vach monthly payment of prjncipal and intvrv�;t required here-
<br />under ;in aniount'estionated by the Nlortgagee to he sufficient. to enable tile IN'lortgagee to pay. as it bucomes (fit(!. the instfrance
<br />prenliuni oil my insurance policy delivered to the Mortgagee. Ally deficiency hecallse of file insufficiency of stich additional pay-
<br />nients shall lie forthwith. deposited by the Mortgagor with the Nfortgagee upowdemand by the Mortgagee. Any defatilt under this
<br />paragraph shall be doomed a default in the payment. of insurance premiums. If tile policY or policies depo4ited ire such n., honw-
<br />owners or all risk policies, and tile deposits are. -insufficient. to pay the entire premillill, the Nlortgapee onay apply the deposit to
<br />pay.prenliums oil risks required to Ili, insured by this mortgage.
<br />Pa ' vonenb;.niado by the Mortgagor under the above paragraphs may. at tile Option of if)(, Nlortgague..he held by it, and
<br />commingled with other such funds or its own funds for the payment of such items. and until so applied. such payments ary hvrvh.�
<br />pledged as ;(-ctiritv for the unpaid balance of the mortgage indebtedness.
<br />To procure, deliver to, and maintain for the henefit of the Nlortgagoe during the life (if this mortgage original policie� and
<br />renewals thereof, delivered at least tell days before the expiration of any suell policies, inquring against. fire and other insurable
<br />hazards, casualti.bs, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this
<br />mpanies acceptable to the Mort-agee, Nvith loss payable, clause in favor of arid in form acceptable to [fit- Mort"a-
<br />10ortgage. and in co
<br />'goe. Ili the event ai iv policy is not renewed on or bofon� ton days of its expin,iiion. the Nlortgagee inny procure insuranceon the
<br />improvements, pay, Lhe preniinni therefor, and such suni shall bec�ime immediately (Ille and payable with interest at the rate set
<br />forth in said noeo until paid and shall bo sectired by this, mortgage. Failure onflio.� part. of the Nlortgagor.to fu ' rnih such renewals
<br />a, agee, const it t I to 11 of efa I I It
<br />s are heroin re�juired or failure to pay any sunis-advanced hpreund��r shall, at the. option of tile Nlortg,
<br />under the ternis'.of tl'iis niortgage. The delivery of.slich policios shall, in tile event of default, constitnte ,in assigninmil of ill(. 1111 -
<br />earned prenihnn',
<br />Ali%, still is received by the 'Nilortgagco by reason of loss or daniage.irisured again,� maY lie n'taineil b%, the ,\Iortgage(�
<br />and applied to ward tile payinent of the dobt hereby secured. or, at the opti6n of the Mortgagee, such sums'either v.-hol1v orin
<br />part. may he pa.id over to the Mortgagor -to lie used to repair such buildings or'lo build'new I?uildins in their phice or for in%
<br />Other purpose or object satisfactory to tile widlout affectink tile lioln'on the mortgage for the full aniount secured lw're-
<br />by before such payment ever took place.
<br />To promptly repair. restore or rebuild any bililding-4 or i ill provvnlent.�� llo%N' or hereafter oil the prvinise� whicl.i maY he -
<br />0011W (1haulaged . or destroyed: to keep said preinis.es in good condition and repair and free from ;ill\, mechanic's fien orother lien or
<br />claim of lien not expressly slihordinated to the lion hereof; not, to suffer or pernift any unlawful us(! of or anY nuisance to exist oil
<br />any other ;let whorehy tile property hereby conveyed sliall b -come
<br />said property nor to permit waste (in said promises, nor to do
<br />less valuable, nor io.diniinish or impair its value by any act or oinission to let: . toli comPlY %vitli all requirements (if law with respect
<br />to tlie mortgaged Promises and the use thereof.
<br />That should the promises or ;in ' v part thereof be taken or damaged 1) ' �, reason of an.y pulilic improvement pr condemnation
<br />procneding. or under the right of enlinent. domain, or in anv other manner. the Nlortgagee shall I)(. entiflud to all compensations,
<br />awards, and any other payment or relief therefor, and shall he entitled, at. its option, to coninience, appear in and pros(,nite in its
<br />own name any action or proceedin,,,, or to make any compromise or settlement in connection with such taking or daninge. All.slich
<br />compensation,' awards. damages, right of action afid proceeds are hereby assigned to the Mortilagec, v.'ho TilaY. after dedneting
<br />therefrom all its expenses. release any nioneys so rc,ceived bY it or apply tile ,;,line oil any indebtednes,; sectired herehy.The Mort-
<br />gagor agre" to execute such further assignments of any compensation, awards" (1:1111ages, and rights of action and proceeds ;i�; the
<br />Nlortgagee may require.
<br />That. ill caso of failure to perform any Of the covenants hereill, the. Nlortgagce may (to oil the INlorigigor's behalf ever ' ything
<br />so covellante(l; tr1lat the Mortgagee may also (10 ally act, it IllaV deeni necessary to protect the lie" thereof; that ' the Mortgagor will
<br />repay upon demand my moneys paid Or disbursed by the N'Tortgagee for any of the above purposes, ;in(] such inoneys togpther with
<br />interest thereon at the rate provi(led in sai�d note ,hall beconle so much additional indebtedness lierebY secored and ni:jv lie in-
<br />cluded in any docree foreclosing this mortgage and lie paid Out Of the rents or proceed,; of sale (if ;aid promises if not otherwise
<br />paid; that it shall not lie obligatory upon the Niortgageo to inquire into the validity of any lion. enf-UnIbranCt'S, or qlain) in ad-
<br />vancing moneys as above authorized, lint nothing . heroin contained shall lie const'rued as re(Iniring the Nlortgagee to advance am
<br />Money.- for my such purpose nor to (to any let hereunder: and that MorIgngee -hall not incur in.%- per . sonal liability liecnie4t. of all,� -
<br />thing it may (to or omit to (to herounder:
<br />In . the event of the'd( �fault by in 1,110 pavillent. Of 'any insh'illment, as required by . the Note secured 1wreby, or
<br />in tile performance of the obligation in this mortgage. Or in the noto secured th&reby, the Mortgagee shall lie entitled to decial-e the
<br />debt secured her6by (tile and pavahle Nvithout notice, and the Mortgagee shall beaeutitle(i at its option, without notice. either by
<br />-my sectirity for the indebtedness so -
<br />or by a receiver to b6 appoilited bv the court flIereof. and without regard to the adequacy of
<br />cured hereby. to enter upon and take possession of tile mortgaged prelniq6s, and to collect and receive the rents, issues and profits
<br />thereof. anri :ap'ply tile same, less costs of olmration and collection. UPOn the. in.debtedness SOCUred by this mortgage: said rents.
<br />1 -1 f all ifidebtedness wcured hervhy.
<br />issues and pr�fitsboing hereby assigned to the Mortgagee as further socurit.% for'tl.ie 1), yment o
<br />-111 ljave tile power to appoint ,my agent Or agents it may desire for the purpose of repairing said prem -
<br />le MoRgagee sh,
<br />ises; renting the.same; collecting the rents, revenues and income, all(I it. may pay out of said income all expenses incurred in i%mt-
<br />ing and managirig1he same* and of collecting therentals therefrom. ' The halance remaining. if any. shall lie applied toward tile
<br />discharge of the mortgage indebtedness. This assignment is to terfilinatp and'become null and void upon releas-e of this- mortgage.
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