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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 TJME 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 AMO�JNT 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 Nlortgagor will pay tile indebtedness as hercinbefore provided.
<br />That the I'vlortgagor 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 same, is free and clear of any lien or encumbrance; and that 'i%,Iortg;ig(!r wilL warrant, and defend the
<br />title to said premises against tile claims of all persons whomsoever.
<br />To pay ininiediately when due in(] payable; all general taxes, special,taxes, special assessments. water charges, sewer serv-
<br />ice charge.-, and other taxes and charge,.; against said property, and all taxes levied oil the debt. secured hereby. a9d to furnish the
<br />Mortgagee,' upon request, %vith the' original or duplicate receipts therefor. The Nlortgagor agrees that there shall he added to
<br />each monthly payment required hereunder or under the evidence of debt secured lierebY an aniount estimatvd by the Nlortgagee
<br />to be sufficient to ellable till! IN'lorigagee to pay, as file),, become due, all taxes. assessments, in(] similar charges upon the prem-
<br />ises subject thereto; ally deficielicv lbecallse of tile insuflicielicv of stich additional payments ,;hall he forthwith deposited by the
<br />Mortgagor with tile' Mortgagee upon demand by the Nlortgagee.. Any default under this paragraph shall be deemed a (](,fault ill
<br />payment of taxes, assessments, or similar charges requfri'd hereunder.
<br />The Mortgagor agrees that. there shall also be added to each monthly payment of principal and interest required here-
<br />under an aniount estimated by till! Nfortgagee to he st'ifficielit. to enable the Nlortgagee to pay, as it becomes (hit',, the insurance
<br />preinium oil ,lily insurance polic - v delivered to tli(, Nlortgagee. Any deficiencY because of the insufficiency of slich, �.ldditiolial pay-
<br />ments shall he forthwith deposited by file NIortgagor with the Mortgagee Lipon demand bY the Nlortgagee. Any default under this
<br />paragraph shall be deenied a default in till- payment of insurance premiums. If the polic.x or policies deposited ai(- such as lionli!-
<br />owners or all risk policies, and the'deposits are insufficient to pay- till., entire premium, the Mortgagee may appl�v the deposit to
<br />pay premiums on risks required to be insured by this mortgage.
<br />Ilayments made by the Nlortgagor under the above paragraphs may, at the option of the Nlortgagoe, bc lield 1) ' y it and
<br />commingled Nvith other such funds or its own funds. for the payment of such.items, and until so applied, such payinents are horebY
<br />pledged as security for tile unpaid balance of the mortgage indebtedness.
<br />To procure, deliver to, and maintain for the benefit of the Nlortgagee (hiring file life of this mortgage origil . lal policie�; and
<br />renewals thereof, delivered at lcasU ten days before the expiration of lily such policies, insuring against. fire and; other. ins-urable
<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 the Nlortgagee, with loss payable clause in favor of and in form acceptable to tile Nlortga-
<br />gee. In the event any policy is not rene\Yed oil or before ten days of its expiration, the ivlortgagve may procure insmi-anceon the
<br />improvements, pay the premium therefor, and such surn shall hecorne ininlediately due and payable with interest, at the rate set
<br />forth in said note Illitil paid 'till shall Iw secured by this mortgage. Failure oil fit(,- part, of the Nlortgagor to furni.,li such renewals
<br />as are herein required or failure to pay ;illy sunis advanced hereunder shall. at the option of- the Mortgagee. constitute a defillilt
<br />I
<br />under the terms of this mortga'go. The delivery of such policies shall, in tile event of defallit, constitute all assignment of' thv till -
<br />earned premium.
<br />I .
<br />Ali%, sums received by the i0ortgagee by reason of loss or daninge insured against nlay he rilained by the Mortgagee
<br />,And applied toward the payment of the debt liervi) ' v svetired., or, at the option of the i0ortgagee, such sunis vither wholl ' v or in
<br />part may he paid over to the Nlortgagor to tic used to repair such buildings or to build'new buildings ill their place or for anN
<br />other purpose or object satisfactory to the Nlortgagee without affecting the lien on the mortgage for the full aniount secured herv-
<br />by before such payment. ever took place.
<br />To promptly repair, res(ore or rebuild ,lily buildings or iniprovenients no\%, or hereafter oil the prvniis(,�s which nla�, be-
<br />come damaged or destroyed: to ke�ip said premises in good condition and repair and free from any nwchaliic*.,; livi!i or other lien or
<br />claim of lien not expressly subordinated to the lien liereof: not to suffer or 1wrinit ally 111.1lawful its(, of or .111Y jllli,�,allce to exist oil
<br />said property nor to perinit waste"on said preinises, nor to do any other act whereby fit(! property hereby conve�,vfl shall become
<br />less valliable, nor to diminish or impair its \,,title by :lily act, or ornission to let: to coniplY with all requirements of law with respect
<br />to tile mortgaged premises and the iise thereof,
<br />'I'liat. should fit(! premises or any part. thereof be taken or damaged by reason of any public improvement or condemnation
<br />proceeding, or tinder the right of eminent. domain, or in lily other manner, the Mortgagee shall be entitled to all �olllpelisatiolis,
<br />awards, and any other payment or relief therefor, and shall he entitled, at its option, to commence, appear in and, prose -cute -in its
<br />own name illy action or proceeding, or to make ;lily compromise or Settlement ill connection With Such taking or (larnage. All
<br />compensation, awards, damages. ri�ht of action and proceeds are hereby assigned to the Nlortgagee, Who may.',after deducting
<br />therefrom all. its expenses, release lily nioneysso received by it or apply the same oil in\' indebtedness secured hereby. The Nlort-
<br />gagor agrees to execute such ftirtlil�r assignmellf." of Illy compensation. awards, damages, aild right.,; (if action an(I procceds as tile
<br />Mortgagee may -require.
<br />That in case of failure to perform any of the covenants herein, the Nlortgageil may (to oil till, Nlortgagor's I ! whalf- everything
<br />so covenanted; that the Nlortgagee may also do any act it may decin necessary to protect the lien thereof: that t1w Nlortgagor will
<br />repay upon demand illy moneys paid or disbursed hY.the Nlortgagee forany of the above purposes, and such mon' I ws toget.lier with
<br />interest thereon at the rate provided in said notp .,hall become so much additional indebtedness hereby secured and may -be in -
<br />and be paid out. of the rents or proceeds of sale
<br />cluded in any decree foreclosing this mortgage of said prenlises'if not otherwise.
<br />paid; that it. shall not be obligatory upon the 'Nfortgagee to inquire into tile validity of any lien, encumbranct-S,! or claim in ill-
<br />vancing moneys is above authorized, but nothing herein contained shall be constru6d as requiring the Nlortgagec' to 'advalict! any
<br />moneys for lily such purpose nor to do illy act hereunder; and that Nlortgagee shall not, incur anY personal liabilitN' because of anY_'
<br />thing it may (to or omit to do heretinder.
<br />In till! event of the default by Nlortgagor in the payment of illy installment, as required by the Note suctfred hereby. or
<br />in the performance of the obligation ill this mortgage or ill the note thereby, the Nlortgagee shall Ill- entifl6i to declare the
<br />debt see6red hereby due and payable without notice, and the Mortgagee shall he entitled at, its option, without notide, either by itself
<br />or by a receiver to be appointed by till! court thereof, and without regard to flie.adequacy of any security for the'indebtednessse-
<br />cured hereby. to enter upon and take possession of the mortgaged premises, and to collect and receive the rents, �ssues,and profits
<br />thereof, and apply tile same, less costs of operation and collection. upon tile indebte(hiess secured 1) this mortgage; said rents,
<br />y
<br />issues and profit:s being hereby assigned to the Mortgagee as further security for tile p,!�,ment. of all indebtedness sv(�urvd, hereby.
<br />The Nlortgagee shall have till-, power to appoint illy agent or agents it may desire for the purpose of repairing said pie.nl-
<br />isds; -renting the same; collectipg tile. rents, reveniie� all([ incornej and it may pay out of said income all expenses iticurred in rent-
<br />ing and managing the same and bf collecting the rentals therefrom. Tile halance remaining, if any. shall be applied toward tile
<br />discharge of the mortgage indebtedness. This assignment is to terminate and become null and void upon release ofthismortgage.
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