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THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR THE PAYMENT OF SOCH <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 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 />rhat fit(! Mortgagor Nvill pay the indebt.edness as hereinbefore provided. <br />That.the Mortgagor is the owner of said properly 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 illy lien or encumbrance; and that 'NIortgagor will warrant and defendAhe <br />title to said premises against the claims of all*persons whoillsoever. <br />To pay immediately -when due and payable all general taxes, special tax", special assessments. water.cliarges, sewer serv- <br />ice charges, aild other taxes and charges against said property, and all taxes le'vied oil the debt secured hereby. and to furnish tile <br />Nlorigagee. upon request, with the original or duplicate receipts therefor. The Nlortgagor agrees that there shall he added to <br />each monthly j)ayinent required hereunder or under fit(- evidence of debt secured hereby in aniount estima . tVd bv the Nlo-rtgagee <br />to fie sufficit'lit, to ellable tile Mortgagee to pay, as they become due, all taxes.. assessments. and similar char ges upon the prem- <br />ises subject thereto; lily dvficiencY because of tll('� insufficivilcy of slich additiollal payments sliall be. forthwith deposited by� tile <br />Nlortgagor with fit(, INIortgageo' upon- deniand--by the Mortgagee. Any defatilt under this paragraph shall be devilled a default in <br />payniont. of takes, assessments, or similar charges. re(lifired hereunder. <br />The Nlortgagor agrees that there shall. also be arlded to (,:tell monthly payment. of principal and interest required here-* <br />Under all anloulit, estimated 1) ' v the Nlortgagee to.he sufficient to onable the Mortgagev to pay, as it beconies dfie,- the insurance <br />prenihini oil any insurance policy delivered to the Nlortgagve. Any deficiencv,liecause, of fit(! insufficiency of such additional pay- <br />nielits -;hall he forthwith deposited by fit(- Mortgagor with the Mortgagee upon' demand by the Nlortgagee. Ally default. under this <br />paragraph sliall he deenied .1 default in t1w payinent. of insurance prenlililn.�, If the policy or policiesdeposited aresuch as home- <br />owners or all risk policies. and the deposits are ' insufficient to pay the entire premium, the Mortgagee may apply tile deposit to <br />pay f,)rvinitinis oil risks required to be insured by this mortgage. <br />1a * vinelits made by fit(! iNlortgagor under the above paragraphs may, at, the option of fit(, Nlortgagee, he hold by it. and <br />cmillilingled with other such funds or its own funds for the payment of stich items. in(] until sn, applied, such payments are herehy <br />pledged as security for the impaid halance of the mortgage indebtedness. <br />To procure, deliver to, and maintain for 4he benefit of the Nlortgagve during the life of this mortgage original policies and <br />renewals thereof, delivered at least tell da * Ns before the expiration of any such policies, insurin', against fire and other insur, . ible <br />hazards. casualties. and contingLncies as the Mortgagee may require, in all alliolint e(jual to tile indebtedness secured by this <br />Nloy(gage, and hi coi.npanies acceptable to the Ivlortgagee, with loss payable clause in favor ofand in form acceptable to file Mortga- <br />gee. In tile event any policy is riot renewed oil or before ten da ' vs of its expiration, the INTort'gagee may procure insurance oil ille <br />improvements. pay fit(- premitini therefor, and such slull sliall becorne immediately (lite and payahle with intere.4f at tile rate set <br />forth in said note until paid and shall be sectired 1) 1 v this mortgage. Failure oil tile part of the Nlortgagor to furnish such rene%'vals <br />as are hervin required or failure to pay lily sunis advanced hereunder ,;hall. atr the ol)tion of the Nlortgagee. constitilte a (jefault <br />l,e. (jeliverv� of Stlell I)o "Illnellf (if the till - <br />under the terms of this rnortg� licies shall, in the evelit of default. constitute all assig <br />earned preinium. <br />Any sums received by the Nlortgagee )w reason of loss or damage in*sured against. may be retain(' <br />�d 1) ' y the Nlortgagev <br />and applied toward the paYinent of the debt herebY secured, or, at, fit(- option of the Nlortgagee, such sunis vitherwholly or in <br />part may be paid over to the Nlort'gagor to be used to repair �uch buildings or to build new buildings in their place or for any <br />other purpose or object satisfactory to the Nlortgagee without affecting, the lien -(in the morigage for fit(- full aniount secured here- <br />by before such pAYment. ever took place. <br />To promptly repair. restore or rebuild' any buildings or inipi-mements no\\, or hereafter oil the premises which may be- <br />come daniaged' or destroyed; to keep said premises in good'condition and repair and free front lily inechanic's fiell or ottier lien or <br />claim (if lien not expr"sly stihordinated to the fien hereof; not to suffer or permit anY unlawfol use of or anY nuisance to exist on <br />said I s <br />propertN , nor to permit waste oil . aid premises, nor to do :lily other let wherebY the property hereby conveyed shall hecome <br />less valuahle. nor to diminish or impair its value by lily act or omission to act; to comply with ;ill requirements of law with respect <br />to the mortgaged premis.es in(] the ust, 1hereof, <br />That Ailitild fit(, premises or ;in.\, part thereof he taken or damaged byreason of anY public improvement oi- condeni nat ion <br />proceeding, or�iinder the right of eminent donlain, or ill aliv other manner, fit(- 'NIortgagee shall [it, entitled to a] * I compensations, <br />awards, and ;illy other payment or relief therefor, and ,;hall he entitled. at its -option, to commence. appear in and prosecute in ' its <br />own name any aelion or proceeding, or to inake any compromise or settlement, in C0111leCtiOn With SLICII taking� or daniage, All silch <br />compensation. a�vards. damages, right of action and proceeds are hereby ' gned to the 'NIortgagee. who ibay. after dedliciing <br />therefrom all its expenses. release lily nioneys so"received bY it. or apply the sal"t- on 'Illy indebtedness secured hereby.The 1\'Iort,- <br />gagor agrees to exectite such further assignments of ,lily compensation. awards. damages, and right.,; ofaction and proceedsa., the <br />Mortgagee may require.. <br />That in case of f;iiltire to perform any of tile covenants hervin, the Nlortgagee may do oil fit(, Niortgagor's [)(,half everything <br />so covenanted: that tile Nlortgagee may also (to any act it. may deein nemssary to protect tile lien thereof; that the Nlortgagor will <br />repay upon demand any nioneys paid or disbuised by tile Nlort.gagee for ativ of the above purposes. in(] such nionevs toget wr it <br />interest. thereon at the rate provided in said note shall become so much additional indebtedness herebY secured and may be in-, <br />cluded in any decree foreclosing this mortgage and be paid out, of the rent-,; or proceeds of sale of said premises if not otherwise <br />paid; that it shall not be obligatory upon the Mortgagee to inquire into the validity of any lien, encumbrances. or claim in ad- <br />vancing moneys as ahove authorized. but nothing herein contained sliall be construed as requiring.the Nlortgagee to 'ldvallce any <br />moneys for any such purpose nor to do ,lily act. hereunder: and that. Nlortgagee shall not incur any personal liability because of an% - <br />thing it may do or ornit to (to hereunder. <br />Ill the e'vent of till! (jefault bY Nfortgagor in the paynient. of lily installment, as required by the Note secured hereby, or <br />in the'performance of the o bligation in this mortgage or in the note secured thereby. tile Nlortgagee shall be entitled to declare the <br />debt SeCtired hereb * y chiv and payable without notice, and the Nlortgagee ,;hall be entitled -it its 01)tioll, without notice, eitherby itself <br />or by a receiver to be appointed by the court thereof. and without regard to tile adequacy of 111V SeMlrit�- for the indebtedness se - <br />and <br />cured hereby, to enter upon and take possession of the mortgaged promises, and to collect receive the rents, issues and profits <br />thereof, and apply same, less costs of operation and collection. upon tile' indebtedness secured by this mortgage; said rents, <br />issues in(] prpfits being hereby assigned to the Mortgagee as further security for. the payment of all indebtedness secured hereby. <br />The Mortgagee shall have the power tw,appoint illy agent or agents it may desire for the purpose of repairing said prem- <br />ises: renting tiw same: collecting fit(- rents. revenues and income, and it may pay out of said, income all expenses incurred in rent- <br />ing in([ managing the same and of collecting the rentals therefrooi. Tile balance remaining. if ally. sliall he applied toward the <br />discharge of the mortgage indebtedness. ']'his assignment. is to terminate and b6come mill and void upon relelase(it this mortgage. <br />