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C;.Ij IV 010084 THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR THE PAYMENT OF SUCH SUM OR SUMS OF MONEY AS THE MORTGAGEE MAY FROM- TIME TO TIME IN THE FUTURE ADVANCE TO THE MORTGAGOR, AND EVIDENCED BY A SUPPLEMENTAL NOTE OR NOTES, BUT THE TOTAL INDEBTEDNESS SECURED BY. THIS MORTGAGE SHALL NOT EXCEED ONE HUNDRED TWENTY (120) PER CENT OF THE 40UNT NOW OWING, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE TO PROTECT THE SECURITY IN ACCORDANCE WITH THE TERMS OF THIS MORTGAGE. THE MORTGAG611 FURTHER COVENANTS AND AGREES: That tile Mortgagor will pay the indebtedness as hereinbefore provided. i conve That ill(! Mortgagor is the owner of said property in fee simple and has good right and lawful authority to sell and y file same an(] that the same is free and clear of tiny lien or encumbrance; and that Mortgagor will warrant and d6felld tile title to said premises against ill(,-" claims of all persons whomsoever. To pay immediatelv when due and payable all general taxesespecial taxes, special assessments, water ch;arges, sewerserv- ice charges, and other taxes and charges against said property, and all taxes levied on ille debt. secured hereby, and to furnish the Mortgagee, upon request, %�ritli the original or duplicate receipts therefor. Tile Alortgagor agrees that there ,;hall be added to each monthly payment required hereunder pr under the evidence of debt secured hereby an amount. estimated by the Mortgagee to be sufficient to enable tile Mortgagee to pay, as thev become (life, till taxes, assessments, and similar charges upon the prem- ise.- subject thereto; Illy deficiency because of tile insufficiency of such additional payments shall be forthwith ideposited I)v tile. Mortgagor with the ivTortgagee upon demand by 'tile Alortgagee. Any default under this paragraph shall be deemed a default in PaYlIlent Of taxes. assessments, or similar charges req'itired hereunder. 'I'll(- INIortgagor agrees that there shall also bO added to each monthly payment of principal and interest required here- under ,fit amount estimated by the Mortgagee to be'sufficient. to enable tile Mortgagee to pay, as. it becomes dye, the insurance premium on illy insurance policy delivered to the Mortgagee. Any deficielicv becallsO Of tile ill'SlIfficielicv Of sucli additional pay - m( - Mts shall be forthwith depnsited by the Alortgagor with the 'Alortgagee upon den and by tile Mortgagee. Any default under this paragraph shall be (teemed I default in tile paym�ni. of insurance premiums. If tile policY or policies depo.�;iteol 4're such as home- owners or all risk policies. and tile deposits are insufficient to pay ill(! entire premium, the Mortgagee may apply tile deposit to pay premiums on risks required to he insured by this mortgage. PaYments made by the 7NIortgagor under the abOve paragraPhs may, at file Option Of the NlortgageO, b0 held by it. and commingIed Nvith Other such funds or its own funds for the payment Of such items. and until so applied, such pay I ments are herel I )y Pledged as security for the "['])aid balaace Of the mortgage i lide bt cc] ness. I To procure, deliver to, and maintain for the henefit I of tile Nlortgagee during tile life of this mortgage original policicc; and renewals thereof, delivered at least, tell (lays before the expiration Of -'Illy such policies, insuring against fire full other insurable hazardg, casualties, and contingencies as tile Nlortgagee may require, in all amount equal to tile indebtednessi Secured by this Mortgage, and in companies acceptable to the Mortgagee, Nvitli loss payable clause ill favor of and in form acceptable to the Alortga- gee. In the event anY policy is not renewed on or before tell (lays of its expiration, the Nlortgagee may procureiiiisuranceon tile improvements, pay the prerniurn therefor, and such surn shall bec-,)MO ill"llediately (life and payable with interesIt. at, the rate set forth in said note until paid and shall be secured by this mortgage. Failure oil the part of ill(, Mortgagor to furnish such renewals -is are herein required or failure to pay any sunis advallcOd hereunder shall, at tile Option (If the Nlortgagee. cOnstittite a default under tile terms of this mortgage. The delivery of such policies shall, ill tllc� OVOIlt of dOfault, Constitute all assignment of the till- Parn6d premium. Any sums received by tile Mortgagee by reason of loss or damage insii.red against may be retained by I the ivIortgagee ,fit([ applied toward tile payment of fit(,, debt hereby secured, o ' r, at the option of the Nlortgagee, such sums either wholly or in part may he paid over to the Mortgagor to be used to repair such buildings or to build 11OW buildings in their place or for my o tlier purpose or object satisfactory to the Mortgagee without affecting tile lien oll tile mortgage for tile full amo,�unt secured here- by before such payment. ever took place. To promptly repair, restore or rebuild any buildings or improvements nONv or hereafter oil tile premi�6s.%vhicli nitly be- come damaged or destroyed; to keep said premises in good condition and repair and free'from any mechanic's lie n or oth c*r lien or claim of lien not expressly subordinated to the lien hereof; 'lot. to stiffer or permit lily ullll% fill use of or III,,, nuisance to ex . ist on said property nor to permit Nvaste oil said premises, nor to do any other act -whereby the I`)'roperty hereby convo� I ed shall become .y less valuable, nor to diminish or impair its value by any let or onlission, to act; to complY with all requirements of'law Nvith respect to the mortgaged premises and the use thereof. That should ill(! prenlises or lily part thereof be taken or damaged by reason of any public improvement'or condemnation proceeding, or under the right of eminent domain, or in Illy other manner, tile Mortgagee shall be elititILd to all compellsations, awards, and any other payment or relief therefor, and shall be entitled, at its option, to commence, appear in and prosecucL in it's oMi name lily action or proceeding, or to make any compromise or settlement in connection Nvith such taking or damage. All such compensation, awards', damages, right of action and proceeds are hereby assigned to tile i'vlortgagee, N . vilo may� after cleducting therefrom all its expenses, release any money,-, so received by it or apply tile sanic on any indebtedness secure(] Hereby.The Mort- gagor agrees to execute site], further assignment.,; of 'fly compensation, awards, damages, and right,; of action ;11111 proceeds as the Mortgagee may require. That in case of failure to perform any Of tile covenants herein, the Mortgagee may do oil tile Mortgagor's -behalf everything so covenanted; that tile INfortgagee may al * so do illy act it.maY deem necessary to protect tile lien thereof: that ill . e Mortgagor will repay upon demand any money.,; paid or disbursed by the Mortgagee for illy of the above'purposes, and such mo'neys together with interest thereon fit the rate provided in said note shall become so much additional indebtedness bereby secured and may be in- cluded in any decree foreclosing this mortgage 'all(] be paid out of tile rents or proceeds of sale of said )r mis , i lot ot 1 is if allces� or claim in ad - paid, that it shall not be obligatory upon the Mortgagee to inquire into tile validity of any lien, One I c Olt f crw e above authorized, but nothing herein contained shall be construed as requiring the Nlortgagee to advance any vancing moneys as . mbr moneys'for any*sucli purpose nor to do illy act hereunder; and that Alortgagee shall not incur any po�rsonal liability because of any-' thilig it may do or omit to do hereunder. In the event of ill(! default by Mortgagor in the payment of ally installment, is required by- tile Note secured hereby, or - in the performance of tile obligation in this mortgage or in tile note secured thereby, the Mortgagee shall be entiti0d to declare the debt secured hereby (III(, and payable without notice, and the Mortgagee shall be entitled at its option, without notice, citherby itself or by a receiver to be appointed by tile court thereof, and without regard to the adequacy of any i;ccurity f(jr the, indebtedness se- cured hereby,� to enter upon and take possession of the mortgaged premises, and to collect and receive the rerib;, issue-. and profits the'reof, and apply tile same, less costs of operation and collection, upon the indebtedness secure(] by this mort ! gage; said rents, issues, and profits I . )cing 11 creby assigned to tile Mortgagee as further security for tile payment of 'all i Ildebted ness se� ! ure(i hereby. Tile -INlortgagee shall have tile power to appoint ally agent'or agents it may desire for tile purpose of rephiring said prem- iscs; renting thesame; collect,ing the rents, revenue.,; and income, and it may pay Out of said income all expenseslin . curred in rent- ing and managing the same and of collecting the rentals therefrom. The balance remaining, if any, shall be ap I j'Aied toward the discharge of -thf�".m'ortgage indebtedness. This assignment is to terminate and become null and void upon release iof this mortgage.