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010085.
<br />THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM TIME TO TIME, SECURITY FOR TH E PAYMENT OF SUCH
<br />SUM OR SUMS 0 ' F 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, EXCEPi FOR ANY ADVANCES THAT MAY BE MADE
<br />TO PROTECT THE SECURITY IN ACCORDANCE'WITH THE TERMS OF THIS MORTGAGE.
<br />THE MORTGAG611 FURTHER COVENANTS AND AGREES:
<br />That the Mortgagor will pay the indebtedness as hereiribefore provided.
<br />That the Mortgagor is the owner of said property in fee simple and has good right and lawful autho . rity to sell and
<br />convey the same.and that the same is free and clear of any lien or encumbrance; and that Mortgagor will warrailt and defend the
<br />title to said premises against the claims of all persons whomsoever. I
<br />To pay immediately when (tile and payable all general taxes,,special taxes, special assessments, water charges, sewer serv-
<br />ice charges, andother taxes and charges against said property, an([ all taxes levied on the debt. secured liereby� and to furnish the
<br />Mortgagee, upon request, with the original or duplicate receipts therefor. The Nfortgagor agrees that there shall be added to
<br />each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated i)y the Mortgagee
<br />to be sufficient to enable the Nlortgagee to pay, as they become due, all tax". assessments, and similar chargos upon the prem-
<br />ises subject thereto; my deficiencv because. of the insufficienev of such additional payments shall be forthwith I'deposited by tile
<br />Nlortgagor Nvith the Alortgagee upon demand by the Mortgagee. Any default under this paragraph shall be deemed a default in
<br />payment of tax(..,;, assessments, or similar charges required hereunder.
<br />The INIortgagor agrees that there shall also be added to each monthly payment of principal and inter(ist required here-
<br />under in amount estimate(] by the Nlortgagee to he'sufficielit. to enable the Mortgagee to pay, as it becomes (it . ie, the insurance
<br />premium on any insurance policy, delivered to the Nlortgagee. Any deficiencv because of tile inslifficiency of sucii additional pay-
<br />m(:nts shall be forthwith deposited by the Nlortgagor Nvith the Nlortgagee, upon demand by the Nlortgagee. Any olefault under this
<br />paragraph sliall be deemed a default in tile paymo�nt of insurance premiums. If the policy or policies depo.�;ited aresuch as lioi*ne-
<br />oyvners or all risk policies, and the deposits are insufficient to pay the entire premitim, the Nfortgagee may apply the deposit to
<br />pay preiuiuni.� on rislig required to be insured by this mortgake.
<br />PaynienLs inade by the Mortgagor under tl to above paragraphs may, at. the option of tile Nlortgagee, 6e held by it. and
<br />commingled with other such funds or its own fluids for the payment of such items, and until so applied, stl(,.Il pa3!Tvnts are hereby
<br />pledged as security for tile unpaid balance of the mortgage indebtedness.
<br />To procure, deliver to, and maintain for the bellefit of the Mortgagee (hiring tile life of4his mortgage original policies and
<br />renewals thereof, delivered at, least ten days before the expiration of lily such policies, insuring against. fire and other insurable
<br />hazar(K casualties, and contingencies as the Nlortgagee may require, in in amount equal to the indebtedness, secured . by this
<br />Mortgage, and in companies acceptable to the I'vlortgagee, with loss payable clause ill favor of and in form acceptahlcl to the Nlortga-
<br />gee. In tile event any policy is not renewed on or before tell days of its expiration, the Mortgagee may procure, insurance oil tile
<br />improvements, pay the premium therefor, and such stim shall Ilemme immediately due and pay.able with interest. at' the rate set
<br />forth in said note until paid and shall be secured by this mortgage. Failure on the part of the Mortgagor to furnish such renewals
<br />, -iq
<br />. are herein required or failure to pay any sums advanced hereunder ,;hall, at tile Option of the Xlortgagee, constitute a default
<br />under the terms of this mortgage. The delivery of such policies shall, it, tile event of default, constitute in assiginuent, (if fit(- till -
<br />earned premium.
<br />Any sums received by the Mortgagee by reason of loss or damage insured against may be retained I j I )v the Mortgagee
<br />and applied toward the payment of tile debt hereby secured, or, at the option of the Mortgagee, such sums either wholly or in
<br />part may be paid over to the Mortgagor to be used to repair such buildings or to build new buildings in theirlplace or for any
<br />other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the fill] amount. secure(] here-
<br />by before such payment ever took place.
<br />To promptly repair, restore or rebuild 'any buildings or improvements no%%, or hereafter oil 'the I)rcnii.,;(,s I which m��y be-
<br />Illech.
<br />come damaged or destroyed; to keep said premises in good condition and repair and free from any anic's lidn or other lien or
<br />claim of lien not expressly subordinated to the lien hereof; not. to stiffer or permit any unlawful lise of or any nuisance to exist on
<br />said property nor to permit. waste on said premises, nor to (to any other act-wherel')y'the property hereby conv(%yedshall become
<br />less valuable, nor to diminish or impair its value by any act or ornission to act; to c6lilply with all requirements of law with respect
<br />to fit(! mortgaged premisps and the use thereof.
<br />That should the premises or my part thereof be taken or damage(] by reason of anv public iniprovemeri4 or condemnation
<br />proceeding, or under tile right. of eminent domain, or in any other manner, the Nlortgageo shall bo entitled to all c mpensa-tions,
<br />awards, and any other payment or relief therefor, and shall be entitled, at its option, to commence, appear in and po
<br />rosectife in its
<br />own name my action or proceeding, or to make any compromise or settlement in connection with such taking or, damage. All such
<br />compensation, award�s, damages, right of action and proceeds are hereby assigned to the Nlortgagee, %*vlio may, affer deducting
<br />therefrom all its expenses, release- any moneys so received by it or apply the same on any indebtedness secured 1)'ereby.Thc Mort-
<br />assignmeiffis of my compensation, awards, damages, and rights of action alld proceeds as the
<br />gagor agrees to execute such further
<br />Mortgagee may require.
<br />That in case of failure to -perform any of tile coveriants herein, the Nlortgagee may do on the Mortgagor's 'behalf everything
<br />so covenanted; that the Ivlortgagee may also do any act itmay deem necessary to protect the lien thereof; that the Mortgagor will
<br />r " epay upon demand my moneys paid or disbursed by the lvlortgagee for any of the above -purposes, and such moheys together with
<br />interest thereon at the rate provided in said note sliall become so much additional indebtedness herel)v secured and may be in -
<br />eluded in any decree foreclosing this mortgage *and be paid out of the rents or proceeds of sale of said' premises' if not otherwise
<br />paid: that it shall not be obligatory upon the Mortgagee to inquire into tile validity of any lien, encumbranceq..o-r claim in ad-
<br />vancing moneys as above authorized, but nothing herein contained shall be, construed as requiring the Mortgagee to advance my
<br />moneysJor any such purpose nor to do my act Iler6under; and that M,ortgagee shall not incur my personal liability because ofany-'
<br />thing it may do or omit to do hereunder.
<br />In the event of the default by Mortgagor in the payment of ,my installment, as required by the Note st�cured hereby, or.
<br />in the performance of the obligation ill this mortgage or in the note secured thereby, the ivIortgagee shall be entitiod to declare the
<br />debt secured hereby (]no and payable without notice, and the Mortgage'e sliall be entitled at iLs option, %%,itllout llotiL.e; either by itself
<br />or by a receiver to be appointed by the court thereof, and without regard to the ade quacy of any 'security for the indebtedness se -
<br />cur , ed hereby� to enter upon and take possession of the mortgaged premises, and to collect and receive the rents, issues and profits
<br />thereof, and apply the same, less costs of operation and collection, upon the indebtedness secured by this mortgage'; said rents,
<br />issues and profits f)eing hereby assigned to the Mortgagee as further sec6rity for the payment of'all indebtedness secured hereby.
<br />'I'lle-Mortgagee shall have the power to appoint any agent'or agents it may desire for the purpose of rep I airing said. prem-
<br />ises; renting tile same; Collecting the rents. revenues and income, and it may pay out of said income all expenses incurred in ront-
<br />ing and managing the same and of collecting the rentals therefrom. The balance remaining, if any, 6liall be apl')Iied toward the
<br />discharge of thv,._m�o,rtgage indebtedne-ss. This assignment is to terminate and become null and void upon release�of this mortgage.
<br />. 4W
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