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o 1"o,275PMORTGAGE IS ALSO TO BE, AND CONTINUE TO BE, FROM TIME TO TIME, SECURI'Y' FOR THE
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<br />PAYMENT OF SUCH SUM OR SUMS OF -MONEY kS THE MORTGAGEE MAY FROM TIME To. TIME IN THE
<br />FUTURE ADVANCE TO THE MORTGAGOR, AND 9VIDrPNCED BY A SUPPLEMENTAL NOTE. OR NOTES, BUT
<br />NOT TO EXCEED THE TOT]kL OF $ --- 24,862-56 ...... . ......... EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
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<br />TO PROTECT THE SECURITY IN ACCORDANCE WITH THE TERMS OF THIS Mo GAGE.
<br />THE MORTGAGOR FURTHER COVENANTS AND AGREES:
<br />That the Mortgagor will pay. the indebtedness as hereinbefore provided.
<br />That the Mortgagor is the dwner of said property in fee simple and has good right and lawful au . f I hori . ty to sell and
<br />convey the same and that the same is free and clear of any lien or encumbrance; and that Mortgagor will warra ! nt and defend the
<br />title to said premises against the claims of all persons whomsoever.
<br />To pay immediately when due and payable all general taxes, special takes, special assessments, water cfiarges, sewer serv-
<br />ice charges, and other taxes and charges against said property, and all taxes levied on the debt -secured hereby, 'arid to furnish the
<br />Mortgagee, upon request, with 'the original or duplicate receipts therefor. The. Mortgagor agrees that there 'shall be added to
<br />each monthly payment required hereunder or under the evidence of debt secured hereby an amount estimated1by the Mortgagee
<br />to be sufficient to enable the Mortgagee to pay, as they become due, all taxes, assessments, and similar chargcs�upon the prem-
<br />ises subject thereto; any deficiency because of the insufficiency of such additional pbtyments shall be forthwith' deposited by the.
<br />Mortgagor with the Mortgagee�upon demand by the Mortgagee. Any default under this paragraph shall be deemed a default in
<br />payment of taxes, assessments, or similar charges required hereunder.
<br />The Mortgagor agrees that there shall also be added -to each monthly payment of principal and inteiest required here-
<br />under an amount estimated by the Mortgagee to be sufficient to enable the Mortgagee to pay, �as it becomes clue,' the insurance
<br />liremium on any insurancie policy; delivered to the Mortgagee. Any deficiency because of the in'sufficiency of su6h'additional pay-
<br />mcnLs shall be forthwith deposited by the Mortgagor with the Mortgagee upon demand by the Mortgagee. Any.!default under this
<br />paragraph shall be deemed a default in the paymnnt of insurance premiums. If the policy or p6licies depositedi:are such as home-
<br />owners or all risk policies, and the deposits are insufficient to p ay the entire premium, the M�rtgagce may apOy the deposit to
<br />pay premiums on risks required to be insured by . this mortgage.
<br />Payments made by the Mortgagor under the above paragraphs may, at the option of,the Mortgagee, be held'by it and
<br />commingled with ot * her such funds or its own funds for the payffient of such items, and until soapplfed, such Pay'mcnts are hereby
<br />pledged as security for the unpa�,id balance of the mortgage indebtedness.
<br />To procure. deliver to, and maintain for the benefit of the Mortgagee during the life of: this mortgage original policies and
<br />renewals thereof, delivered at leqst ten days before the expiration of any such policies, insuring against fire apcl other insurable
<br />�azards, casualties, and contingQncies as the Mortgagee may Kequire, in an amount equal to the indebtedness secured by this
<br />Mortgage, and in companies acceptable to the Mortgagee, with If iss payable clause'in favor of and in form accept�ble 'to the Mortga-
<br />gee. In the event any Policy is iiot renewed on or before ten days of it -s expiration, the Mortg�jgee may procurr insurance . on the
<br />improvements, pay the premium therefor, and such sum shall be&)me immediately due and pa�.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 furpish such renewals
<br />as are herein required or failure to pay any sums advanced hereunder shall, at the option of t'h"e Mortgagee, constitute a default
<br />u , nder the terms of this mortgage. The delivery of such policies shall, in the event of defaul . t, coi-istitute an assi4nment of the un-
<br />earned premium.
<br />Any sums received by the Mortgagee by reason of lois or damage insured against niay be retained 'by the Mortgagee
<br />or, at the. option of the Mortgagee, such sums either wholly or. in
<br />and applied toward the payment of the debt hereby secured, I
<br />part may be paid over to the Mortgagor to be uged to repair such buildings or 'to build'new buildings in their' place or for any
<br />other purpose or object satisfactory to the Mortgagee without affecting the lien on the mortgage for the full am tint secured here-
<br />by before such payment ever took place.
<br />To promptly repair, restore or rebuild any buildings qr improvements now or hereafter on the Premises 'which may be.
<br />come damaged or destroyed; to keep said premises in good condition and repair "and free from any mechanic's Nen or other lien or
<br />claim of lien not expressly subordinated to the lien hereof; not to*:suffer or permit any unlawful 'use of or any nuisance to exist on
<br />said property nor to permit waste on said premises, nor to do any other act whereby the property hereby conveyed s . hall become
<br />less valuable, nor to diminish or impair its value by any act or omission to act;' to comply with all requirements o I f law with respect
<br />to the mortgaged premises and the use thereof.
<br />That should the premises: or any part thereof be taken or damaged by reason of any public improvemen't or'condemnation
<br />proceeding, or under the right of'eminent domain, or in any othdr manner, the Mortgagee shall' be entitled to h:ll compensations,
<br />awards, and an� othe:r payment o�r relief therefor, and shall be en'titled, at its option, to commence, appear in'aA(l.prosecute in its
<br />own name any action or proceedjng, or to make any compromise- or settlement in connection with such taking 4 1 damage. All such
<br />compensation, awards, damages, iight of action and proceeds are hereby assigned to the Morigagee, who ma', 'after deducting
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<br />therefrom all its expenses, releasd any moneys so 'received by it or apply the same on any indebtedness secured. heteby. The Mort-
<br />gagor agrces�. to execute such furiher assignments of any comperisation, awards, damages, and right- of action afid-proceeds as the
<br />Mortgagee may require.
<br />That in case of failure to.,perform any of the covenants licircin, the Mortgagee may do on 'the Mortgagoi's� behalf everything
<br />so covenant.ed; that the M6rtgaget may also do any act it may (teem necessary to protect the lien' thereof; that the Mortgagor '
<br />i will
<br />r , epay upon demand any moneys:paid or disbursed by the Mortgagee for any of the above purpcy�es, and such moneys together with
<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 rents or proceeds of sale,of said premise's if not otherwise
<br />paid; that it shall not be obligatc�ry upon the Mortgagee to inquire into the validity of any lien, encumbrances, or claim in ad-
<br />vaneing moneys as above authorized, but nothing herein contained shall be construed as requiring the Mortgagqe to advance any
<br />ri�ifineys. for any such purpose nor lo do any act hereunder; and that Mortgagee shall not incur any personal liability because of any-
<br />thing it may do or omit to do hereunder.
<br />In the event of the default by Mortgagor in the payment of any installment, as required by the Note,s'ecured hereby. or
<br />in the performance of the obligation in this mortgage or in the nct'te secured thereby, the Mortgagee shall be entifl.ed to declare the
<br />debt secured hereby due and payable without notice, and.the Mortgagee shall be entitled at its option, without noticc. either by itself
<br />or by � receiver to be appointed by.the court'thereof, and withou.t regard to the adequacy of any.security for the indebtedness se-
<br />cured 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, Jess costs of operation and collection, upon the indebtedness secured by this mortgage; said rents,
<br />issues and profits being hereby assigned to the Mortgagee as further security. for the Payment of all indebtedness s6cured hereb
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<br />The Mortgagee shall havi! the power to appoint any agent or agents it may'desire for the purpose of repairing said prem-
<br />ises; renting the same; collecting.,the rents, revenues and income, and it may pay out of sa'id income all expenses incurred in rent-
<br />ing. and managing the same,and; of coll�cting the rentals therefrom. The balance remaining, if any. shall be applied toward the
<br />discharge of the mortgage indebtedness. This assignment is to terminate and become null and void upon releii of 'this mortgage.
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