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01011,98
<br />THIS MORTGAGE IS ALSO TO 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 ASUPPLEMENTAL NOTE OR NOTES, BUT THE'TOTAL INDEBTEDNE�S SECURED BY, THIS' MORTGAGE SHALL N OT
<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 />THEzMPRTGAGOR FURTHER COVENANTS AND AGREES:...-,
<br />That the-NIortgagor will pay the indebtedness as herei n he fore provided.
<br />That tile. Alortgagor is the owner of said - property. in fee siliII)le 'I'd - has good right and lawflit alithoritV to sell "ad
<br />Nlort,
<br />convey the. sarne and that the same is free and clear of any lien or encti nil) rance and that i gagor will warrant and defend t.lie'
<br />title to said promises against the claims of all persons whomsoever.
<br />TO pay ini . mediately --viien due and payable' :111 general taxes, special UINVS, special assessments, water charges, sewor serv-
<br />ice charges, and other taxes and charges against said property, and all taxes leviegi oil file deht. secured hereby, and to furnish t , lie
<br />Nforigagee, upon.,request, with fit(-- original or duplio�ate receipts therefor. The iNlortgagor ag,�ves that. there Alall lie added -to
<br />pach monthly paym6nt. required hereunder of- under tile eVidence of debt. secured hereby ,In anioulltestirliated I)v tile Nlorfgagve
<br />to lie sufficient to enable the Nlortgagee to pay, its they becOille (tile, all taxes, r.issessfinents, and similar charglus upon the prCill-
<br />ises subject thereto; an3i deficiency because of tile i list] flicipliev of such additional payments shall he forthwith doposited by tile
<br />'ivlortgagor with fill- I'vlortgagee upon deniand by tile Nlortgagee. Any default under this para,;raph sliall iie devilled if default ill
<br />payment, of tax(,.,,;, assessments. or similar charges required hereunder.
<br />The Alortgagmr agrees that there shall also be added to vaell njolitIlIV payment of pri'licipal in(] interest required liere-
<br />under in aniounCestiniated by the Nlortgagee to he sufficient to enable the Nlortgagee to I)ay, �e&; it IWL'0111('s dtl(r, tile inSUrance
<br />premitim oil ;Illy ins4irance policY delivered to tho Nlortgagee. Any deficiency because of tile instifficielicy of slich additional pay-
<br />Im-fits sh"11I lie forthwith deposited by tile Nlortgagor with the Alortgagee upoll demand by fit(, Nlortgageo. .;%fly default. under this
<br />paragraph sliall be deerned a default in tile payment of insurance premiums. If the policY or policies deposited aresuch ,I.-; home-
<br />owners or all risk policies, and the deposits are insufficient. to ply the entire prernitim, the 'NIo rtgage(,- may apply thill deposit .10
<br />pay premiums oil risks required to be insured bY this mortgage.,
<br />11a , �nients made 1) ' v flic. Nlortgagor under the above paragraphs Illily. at tile option of tile Nlortgagee, be held bY it and
<br />commingled Nvith otlier such funds or its own funds for the payment. of such items. and lintil so applied, �,uch payinents ary here. bY
<br />pledged as seCtirity for the unpaid balance Of tile mortgage indebtedness.
<br />TO procu re, deliver to, in([ maintain for the henefit of tile '.Nlortgagpe (1111-ing the life of -this mortgage original policiesa Ild
<br />renewal,; thereof, delivered at least ton (Wls before the expiration of any such policies. insuring against fire in(] other insuraf)lv
<br />hazards, casualtie . s, and conti , ngencies as tile Alortgagee may require, in an amount equal to the indebtedness secured by this
<br />N ' I
<br />abl( 'It and in form acceptable to flip , lortg. -
<br />Nlortgage. and in co�npanips cceptable to the N
<br />I lortgagee, with 1(�ss pay, - cl, ise in favor of
<br />gee. In tile evp I I Niortgagee may procure insurance oil the
<br />llt!all,N poli&N is not. renewed oil or before ten days (if its expiration, the I
<br />iniprovenient',. pily the premium therefor. and silcl� slull shall bec-,mile im filed int illY dile and payable with interest at tllf. r; I t (1, set
<br />I
<br />forth in ,;;]ill note until paid and shall be sectired bY this mortgage. Failure oil t -he part (if the Nlortgagor to fill -I ' iisli slic 1
<br />,I, - advanced herounde' shall, at., tile oj)iiolI Of the Nlortgngev, constitute a defaillt
<br />, s are herein re(jilired or failure to pay :Illy surns r
<br />under the terms of.this mortgage. The defiverY of stich policies shall,*in the ov(�nt of defaillt, constitute :111 of the 1111-
<br />varned prenii un)-.
<br />Ali%- surns received 1) tile iNfortgagee b.N reason of loss or daningo insured ai!ainst may he retainerl 11 , v the %Iort
<br />ther wholly (or in
<br />and applied tow;ird the payment Of tile debt hereby sectired, of-. at the option of tile such sullis ei
<br />part may I)(- pai(l oV('r to tile Nlortgagor to lie used to repair such huildings (lr ' to buil(I'llew buildings in their place or for ;if)
<br />other purpose or;object satisfactory to the Nlortga��ev without affi-eting the lien. (in the mortgage for the full muo.ont securf-d here-
<br />hv before such paYment ever look plave.
<br />To .1 hllilding-� (;r improvements now Or hereafter on tile for " li*
<br />promptly repair, restore or rebuild am ( I S(.s which mav )v-
<br />cornO damaged or, destroved: to keep said premis0s in !,,00d Condition and repair ;.ind free froal anY njvclianic*� lien of- othi.�r livil,or
<br />clairli Of lien not expressly subordinilted to the lie', hereof; not to suffer or permit 111V lialawful its(,- of (or any nuismice to (-�ist on
<br />said propertY nor to permit waste oil said premises, nor to do ,Illy other act whereby the property hereb.% coliveYed sliall 1 -Col ' 11P
<br />c t.
<br />less valuable, nor to diminish or impair its villne In anl.' act or ornission to act: to vOnlPIv with all . roquirvmenl.-� (it' lim' with
<br />to the mortgaged premises and tile use thereof.
<br />T11.1t s1lojild tile pri�jriiSpS or any part thereof be taken Or daniagell by reason of ;fit%' I)Lll)li(! improvement of* condellination
<br />proceeding, or un�der the right of vinillont domain, or in any other manner, the Nlortgaget. shall. he entitled to all.compensatiolis,
<br />awan's, and aaV otliel- payment or relief therefor, and sliall be elitifled, it.,; option, to commence, appear in and prost.fute in its
<br />compronii--w or
<br />own name any action or proceedin— or to make an\ settlement, in connection with such taking or damagre. All
<br />collipelisation, aw-ards, damages, right of action 11"d procceds are liereby assigned to the Nlortgagee. who niaY, after dedm:ting
<br />therefrom all its exI)VIlSes, release ally niolleys so received bv it or apply the saille (ill allv indebiednes., secured hereby.The Nlort-
<br />gagor agrees to u1\pcUt0 slich further assignments (of any co nipensation, awards, daniages, in(] rights of avtion and proceeds a�; t.11(.
<br />j Nlortg
<br />agee may require.
<br />That ill ca, ay do (oil the i%lortgngor's bobillf ever . % thini!
<br />se. Of failure to perform any Of tile eo%,plialits herein. tlie INIortgagev III.
<br />so coVenalited; that the Nlortgagee may also (10 Illy act it. may devill necessary to protect the lien thereof: that the Nlortgagor will
<br />repay upon dernalid 'Illv Moneys paid or disbursed bY the N'Tortgaget, for any Of tile aboVe. pjlrI)o.-;ps. and stich moneys together with
<br />interest thereon at the rate, provided in said note.shall become so nitich additional in( . lehtedness hereb , v secured in(] may he in-
<br />cluded in ariv dvcjep� foreclosing this mortgage and. lie I)aid 0111 Of the refits of- proceeds of, Safe of ,;:fill prenlises if not otherwise
<br />I)aid; Illat it sliall-not. lie obligatory upon tile Alortgagee to inquire in(o the validity Of in\, lien. encumbrances, or claini in
<br />leys i;,
<br />vancing inoz al)ove authorized, blit nothing lii�rcin contained shall be construed ,is requiring the Nlortgagee to :idvalico ally
<br />rider; and that Nlorlgagee shall not ineur in\, personal liabilitv lwc:lll.�e of allv-
<br />moneys for ally such purpose nor to do 11IN act lierell
<br />thing, it. may do or onlit to do hereunder.
<br />)y the 'N�ote secured lioreb v. of -
<br />III the v%�Ient Of tile &'-falllt 1) . V Nlortgagor-jui the payment Of :1113 iliStaillnent, as- required I
<br />in the performance of tile Ob . ligatioll in this mortgage or ill tile not(, secured ther6by, tht, Alortgagee shall ho entitled to duclare the
<br />debt seCtired herphy due and payable witlioLlf, notice, fall the, Nlortgagee Shall I)e'elititled ilt. it.,, option, witliout m.itice, eitherby.itseIf
<br />or by ,I receiver fo I)e appointed by the court thereof, and without regard to the adequaO of Illy securit.% for the i I idebt pit lipss se -
<br />and re ; rind profits
<br />cured hereby. to "enter upon and take possession 'of the alortgaged premises, and to collect _ceive tile rents. issue,, ,
<br />thereof, and apply the sarne, less costs of operation and collection, upon the indebtedness secured by this niortgage: said ronts,
<br />issues and I)rqfit-,; being herehy assigned to the 1\161'tgagee.as further securit.y for the payment of all hidebtedriess secured liereb%
<br />TI I v . Nlortgagee sliall ),live tile power to appoint. Illy agent or agents it may desire for the jnirpose� of repairing said prem-
<br />ises; renting tile same: collecting the rents, revenues and income, aild it may 1) ay out. of Said income all expenses incurred ill rent-
<br />ing and managin" the sarne and of collpcting the rentals therefrorT4. The balance remaining, if any, shall lie applied toward the
<br />-(, of"this mortgage.
<br />discharge of. tile mortgage indebtedness. This assignment. is. to terminate and lieconle null and void upon relea,,
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