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010119
<br />THIS MORTGAGE IS ALSOTO 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 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-ADVANCES7HAT MAY BE-M,ADE
<br />'TO PROTECT THE SECURITY IN ACCORDANCE WITH THE TERMS OF THIS MORTGAGE.
<br />THE MORTGAGOR FURTHER COVENANTS AND AGREES:
<br />That the Mortgagor Ivill pay the indelit'edness as hereiribefore provided.
<br />That -the INIortgagor is the owner of said property in fee simple and has good right and lawful mithority to sell �aryd
<br />convev the same, and that the same is free and clear of anv lien or encu mbra rice and that Nlortgagor will warrant and defend�tlle
<br />title to said premises against the claims of all persons whornsoever.
<br />To I)ay ininiediatoy wtien (itie and payable all general taxes. special taxes, special assessments, water'cliarges, sewerserv-
<br />ice charges, and other taxes and charges against said property, and all taxes lev.i6d oil the debt secured hereby, and to furnishithe
<br />10ortgagec, upon request, Nvitli the original or duplicate receipts therefor. The Nlortgagor agrees that. there shall be added to
<br />each monthly payment required liereurider or under the evidence of debt. secured herehy an aniount estimated by tile Mortgagee.
<br />to be. sufficient. to enable tile Mortgagee to pay, as they beconie (in(-, all taxes*. assessments. and similar charges upon the preni-
<br />ises subject, thereto; ally deficiency because of tile insufficiency of such additional payments shall be forthwith deposited by tho
<br />Mortgagor ivith. the '110ortgagee lipoll delliand bY the Nlortgagee. Any default under this paragraph shall he deellied a (11,fault in
<br />payment of taxes, assessments. or similar charges requirvd livreunder.
<br />. The Mortgagor agrees tbal, there shall also be added to each niolithly payment. of principal and interpst-re(joired here-
<br />under in aniount : estimated 1) - v the Nlortgagee to 1w sufficient to onable the Nfortgagee to pay, as it beconles dile. the insurance
<br />preinioin oil my insurance policy delivered to tile Nlortgagev. Any deficietic ' v becallse of tile insufficiency of such additional pay-
<br />nients shall he forthwith deposited by the Mortgagor with tile Nlortgagee upon flenlaild by the Alortgagee. Any default. under , this
<br />paragraph shall -be, deemed a default in the pailment of insurance premiums. If,the policy or policies deposited are such as liolne-
<br />owneFs or all risk policies, and the deposits are insufficient to pay the entire' premium, tile Mortgagee may apply the deposit to
<br />pay premiums on risks required to be insured by ihis mortgage.
<br />I'ayineuts made by the Mortgagor under the above paragraphs may. at the option of the Mortgagee, hi, held by it awl
<br />commingled with other such funds or its own funds for tile payllielit of stich it em.t;, and until so applied. such paynwiik are hen'bY
<br />pledged as secority for the unpaid balance of thio mortgagv indebtediless.
<br />To procure, deliver to, and maintain for the benefit, of the Nilortgagei�,diiririg the life o f this nior(gage original policies alld
<br />renewals thereof, delivered at least tell days hefore the expiration of any such policies, insuriog against fire and other insurahle
<br />hazards, casualties, and contingencies as the Mortgagee may require, in an amount equal to the indebtedness secured by this,
<br />Aloit-age, and in companies acceptable to the N'Tortgagee, with loss payable clatise in Favor of and in forin acceptahle to the '\lortga-
<br />gee. �n the event any policy is not. renewed (in or bt4ore ten (lily,,; of its expiration. the Nlortgagee may procore iristiralwC oil ill('
<br />improvements. pay the premium therefor, awl such stim shall hec:)niv ininiediately (Ill(, and payable with interest at tll(- rate Set
<br />forth ill said note until paid and shall be secured bY this mortgage.. Failure oil the part. ' of file 'Nlortgagor to ftimish -;uch rene\ k,als
<br />as are hervin required or failure to pay any slims advanced hereunder shall. at, the option of the i%Iortg.,igvo, constitute a (1(4atflt
<br />under the ternis of this mortgage. 'I'll(, deliverY of soch policies Shall. ill the vvent of defalilt, collstiflite all as,4igollwilt of ill(- 1111 -
<br />earned premium.
<br />Any sums received by the Mortgagee 1) , v r(Nison of loss or damage insured against. ina ' v he retaim-d bY 111v
<br />alld applied toward tile paYllielit of the debt llercby sccured, or. at ill(, option of the iN Tort gage(-, SUCh Slllll� Oit h('r W1101 1%, r; i n
<br />part ma ' y he paid over to the Mortgagor to be wwd to repair stich buildings or to build'new Iniildhig.,; in thvir place or for illly
<br />other purposo or object satisfactory to the %Iortgagoo without affecting the hell. oil the mortgage for the full amotiot secored liore-
<br />I)v Iwfore Stich payrilent ever took place.
<br />To promptly repair, restore or rebuild aoy bllildiog�- or i ill provelliel) ts now or 1wreafter oil the prenlises which imi ' v he-
<br />conle diu-naged or destroyed: to keep said premises in kood condition and repair mid free from ;in ' v owchaiiic's hell or otiwr li(-ii or
<br />claim of lien not expressly subordinated to the lien lit'reof; not to suffer or perinit any unlawful us(- of or.an.v llUiS,'ll1CV to PNi.'A Oil
<br />said property nor to permit, \vast(! oil said premises, nor to (to in , v other act whereby the property hereby conveyed sliall become
<br />less valuable. nor to diniiiiish or inipair its value by ally act ol. onlission to act: to collipily.with .111 re(joil-volents of' law with respect,
<br />to the mortgaged premises and tbe use thereof.
<br />Tilat sliould the premises or any part thi�reof be taken or damaged by reason of ally poblic improvemeiit or condernoat,ioa
<br />proceeding. or in'ider the right of eminent domain, or in an.v othor mal-iner, the - Nlortgagee shall he entitled to all coillpellsatiolls,
<br />awards, and in' other payi-fient. or relief therefor, mid shall be entifled. at its option, to commence. appear in and prosectite in its
<br />Y.
<br />(�%vn naint. :illy �action or proceeding, or to.11lake al)y compromise or settIC-111011t. ill COMWC6011 With SLICII takillg or daniago. All . stich
<br />compensation, 1%,vards', damages, right of action mid proceeds are hereby assigned to the Nlortgagee, who jnay-aft(!r deducling
<br />therefrom all its expenses, !`(4(1,lst� aliv nioneys s6 received bv it or apply the sz�ilne oil allv itidebtedness seciii-ed lierchv.The *\Iort-
<br />gagor agrees 6),execlite Such further assignments of aiiv compensation, awards,.daniages. in(] rights of action and pruccods a-,;:tllv
<br />INTortgagee may. requir(%
<br />That il - i case of failure to perform any of flit- covenank herein, the Nl(;rtgageo may (to oil the Nlortgagor's 1whalf everYth'ing
<br />so covenanted: -that flit, Mortgagee may also (to any act it. may deeni ncc(�ssar ' �- to protect, the lien thereof: that the Nlortgagor will
<br />repay upon dvinand lily m0ney', J)aid or dishtir.�ed bY the Nfortgagee for lily of the ahove piirposws. and sm-li moncYs together with.
<br />interest thereon at tile rate providVd in said not( ? shall become so nitich additional in( lebtedness hereh.v sectired and may he in-
<br />cluded in any decree foreclosing this mortgage and he paid out. of the rents or proceeds.of sale of said prenlises if not otlienvise
<br />,)aid; tilat it sliall not be, obligatory upon tile. Nlortgagee to inquire into the validi(y of any lien, elictillibrances, or claiiii in ad-
<br />vancing moneys as above authorized, but nothing herein colitahled sliall be collstriled as requiring tile Nlortgaget- to advance any
<br />moneys for any stich purpose nor to (to any act. heroundor; and that IMortgagee shall not incur all.\, persooal liabilitY becallse of anN.-
<br />filing it may (to or ornit to (to hereunder.
<br />In tile event of tile (fefault. I)v 10ortgagor in the paynient of any installment, as re(joired 1) ' y the Note secored lit-reby, or
<br />in the performance of the obligatihn in this mortgage or in the not(, secured thereby. the Mortgagee shall be entitled to declare flit,
<br />debt secured hereby (1110 alld Payable without notice, and tile Nlortgagee shall be -entitled atr its 0I)ti0o, Withollt i)otico. vither by itsell
<br />or by a receiver to be appointed by the court thereof. and without regard to the adequacy of any securitY for the indebtedness se-
<br />cured lierelly, to enter upon and take possession of the mortgaged premises, and to collect. and receive fill, rents. issu" and profits
<br />thereof, and ap0y the same, less costs of operation and collection. upon the indebtvdiless seCUred by this mortgage; said rents,
<br />issues and profits, lwing hereby assigned to tile INIortgagee as ftirther security fori.1he payment of all irid(,btvdiwss secured Ilerf-bY.
<br />The Mortgagee shall havC-1,110 Power to appoint, any agent or agents it may desire for the purpose of repairing said prelil.
<br />ises; renting the same; collecting the rents, revenues and income, and it may ]lily out. of said income all eNperises incurred in rent-
<br />ilig and managing the same and of collecting the rentals tlierefro;i. The balance remaining, if any, shall be.applied toward the
<br />discharge of the mortgage indebtedness. This assignment is to terminate and Ilecolm- mill and void upon relefise of thismortgage.
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