|
THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM MME TO TIME, SECURITY FOR',THE PAYMENT OF.SU�H
<br />SUM OR SUMS OF MONEY AS THE MORTGAGEE MAY FROM TIME TO TIME IN THE FUTURE ADVANCE TOTHE MORTGAGOR, AND
<br />EVIDENCED 13Y A SUPPLEMENTAL NOTE OR NOTES, BUT THE TOTAL INDEBTEDNESS SECURED BY THIS MORTGAGE SHALL NOT
<br />EXCEED ONE HUNbRED TWENTY (120) PER CENT OF THE AMOUNT NOW 6WING, EXCEPT FOR ANY A.DVANCES THAT MAY BE MADE
<br />TO PROTECT THE SECURITY IN ACCORDANCE WITH THE TERMS'OF THIS MORTGAGE.
<br />THE, MORTGAGOR FURTHER CONIhNANTS AND AGREES:
<br />That fit(,, Nlortgagor will pay the indebtedness as liereinbefore I rovided..
<br />That 010 Nfortgagor is the owner of said property ill fee simple and has good right'and lawful authoritY to sell and
<br />colive , v the salll;� and that thesame is free and clear of anx, lien or encurrihi-ance: and that iNlortgagor will warrant and deforld tlIQ'
<br />title to said primises against the clainis of all persons whorrisoever.
<br />To pay ininiediatelv when due and pay�iljle all general taxes. sl
<br />i(�o chargvs, and other talzes and charges against. said property, and .111 1
<br />A fort gagee. upon re(Itiest, with flit- original or duplicate receipts t1wre
<br />vach lilontlily payn-kinit. 1-cquired hereunder or 11 ' rider t1w evidence of de
<br />to he sufficient to onable the Nlortgagee ill paN." as they hecome dile,
<br />is(,s subject thereto; ariv deficivilev becallse of flit! insufficielicv of stich
<br />Nlortgagor with fill- -'Vlortgagvo upon demand 1) , v the "Mortgagev. Ally
<br />payment. of tax(�-�, l.'sessillents, or similar required hertamilider.
<br />The iNlortgagor agrvi�s that there shall he added to each
<br />1111der all ailloulif ('�stiixiatvd I)%- flit- Nforf-agee to 1w sufficient to ullable I
<br />premium oll ally insurance policy delivered to ill(, Mortgague. Any defici
<br />nients shall ho forthwith delmsited by Ili(- Nlortgagor with the Nlorlgage(
<br />paragraph sliall )w d(WIM'd ;I default ill tilt- payment of insurillice prenli
<br />owners or all risk polici(�s. aild thO d(!I)0sitS �11-0 ilISLlfli('iVIlt to IM�' tIl('
<br />pay prviniums oil risks required to he insured by this mortgage.
<br />�cial taxes, spt,cial asse�smvnts, water charges, sewer serv-
<br />xes levit
<br />-d oil the debt. 'sectired hereby. and to furnish tilitt
<br />)r. The Nlortgagor ag �ves that there shall be added! to
<br />I secured horebY ;ill alliount estiniatud I).%, ill(- Nlorrga�ev
<br />11 tzlxes, * assl�ssllwlits, abd similar chargn-s upon ill(, prem-
<br />dditional paYtillents shall hv forthwith doposited I)v the
<br />lefaidt under this parag;raph shall ho det-nwd a defallWill
<br />onthly payinent of principal and interest rcquired ll(!r(,-
<br />\IoHg;lg(-t, to pay, �;is it becollit-; do(l, ill(, insuranco
<br />wN, beratis(, of (he illstiflicioncY of such additional *p;?y.
<br />upon derilaild bY ill(- 'Mortgage". Ally (I.,falilt illidel this
<br />ms. If ille policN. or p llicie.� deposited are Such as hollie-
<br />fire pronlillill. the inav appiN, Ili(,
<br />deposit to
<br />Pa , �,lnellt.s made 1).v the Nfortgagor 1111der the ahove 1mragraphs jilay, at ill(' option of fit(' NM(Irtgagvc. I,(. hold hv it a�lld
<br />commingled NVithEoIller such fulids or it., own funds for the Imyllielit of ,�6cli itvnl�'4, M'd ""fit so Ziplilied, such paymenk ar't, il'.1-vIlY
<br />pledged as suctiri.t.v for ill(' unpaid bakillve of ill(' Illorigage indebt(411lesd.
<br />To proctire, dodiver to, Mid lllaillt�lin for flit, bent -fit of the NIorI1_,,;lgee during the life of this lllortg;lge origilml policic�� ;1.11(1
<br />I
<br />renewals thereof,' delivered at least 1(�n da'ys befol.t. the expiration of :lilt- such policies, illstirill agaill,;t fire other insuraifle
<br />and contingencies as the Aloitgagee may require, it ;Ili Imollllt equal to Alle ilidebtednes.,; . secured by thi,,
<br />hazards,
<br />INTortg,age. and ill companies acceptable to fit(, Nloriga!,,(�(�. with loss paval Ie clau.�(' ill 171". -Or of ;111(1 ill fol -ill to ill(, \lorl"n-
<br />geo. Ill till' evelif, '111%.
<br />g . policy is not. renewed on -or lwfory tvn (];I ' v s o f it oxpirat,ion. the ',Iorfg�igee mm, procfire instilance m) ill(.
<br />improvements. pay ill(- prunihini therefor, :md such sum sImll hec�)nw 1111rilediatelY (fit(, and Imy.;l1fle with interest al ill(, ralf. "vt
<br />1`01-th ill Slid Illitil IMid Mid SIl;lII Ili' SOVLlred bY this moim_�nge. Faillilr(- on 'ill(, part ill flit, Nlorlgaor to furilisli sit(.], rvlww�lls
<br />.I,, are lit-roin rVquired or failure to pny any ,�unis advnilccd hervillidt. r sidill. :0 ill(, f)ption of ill(- %lorti!ngee. constililtv ;t (lef.illit
<br />under the ternis of this mortg;igo. The deliverY of such policiv,; sliall, it) tile of deratill, coilstitilte ml :1�z-;ig 11 tilt -rl 1 (d 1114, un-
<br />earlied proll-killill.
<br />AnN, sums received I)v ill(- Nlortga�le(- bN- rt�asoji (if fos., or da
<br />and applied IoNvard ill(- poyment of the dobt lierel) �4ccurvd, tw, at Ill,
<br />part ma , v be paid o%,t-r to the Nlortg:igor to ho llswl it) r( -pair stich buil(
<br />other purpose 4-r oh.ject satisfactol- * V to illo kVitiltilit
<br />bV hof(We such payllit-ol ever look place.
<br />To pron * iptlY ropmr. restore ol- rebtlild ;111Y hllildillgl� or impro)
<br />collit. dallia-ed or dustrovcd: to keep said promises ill good condition aw
<br />claim of lien not (,.xpressl ' v subordinab-d to t1w lit�n livreof; not to suffer o
<br />said properiv nor to perIllit oll said promises, nor Io (to �I'nv otho
<br />less valliablv. lior to diminish or irlipair its v�iljlo 1) V allN. act or omi�;sion to
<br />to ill(, mortgaged prvniise.� �uj(l Ihe use then -4.
<br />Im""o ill'tired against * loa * N. he ret;1illed bY the
<br />option of the such either NNIl(dIv (trim
<br />or to build*11ow huildill!'s in Hivir phwo
<br />or for aliv
<br />Ili, lion oil tilt- niork,,agv for ill(- fill] aim,unt securt-d lw!."
<br />�rmvnt�� nov.- or lien-aff'or oil tilt' pn-lllis��s -xili ch Illm i�-
<br />rvp.,dr ;Ili(] Irce from :ill , V nicchaiiiv's licit or oth,,,r livn:'or
<br />pl-l-mil ally unlawild lise of or ;mv llllis',lllV(. to exist oil
<br />act Nvh�,reb.v fit(- prolwi-tv hort,I)v coliveved simll becollif,
<br />act: to complY \Nith all of ]aw v.-ith respt;ct
<br />That should ill(- pri-mise.-� or any part thervol ]w faken m- darmal ed I)v rv�lsorl of "Inv public impr(wellit-lit or condt-illoatioll
<br />proceeding, or under flit, right of eminviii domain, or ill any other mannik- - fflo Nlortgagoo shaW he entitled io all.collipt-lisatiolls,
<br />mvar('s, and Ili\, other payment or mlief therefor, and shall he entillod. al, its oi)tioll. to cmilluence, amwar ill and prost-cuto ill its
<br />own mane anY action or procceding, or to make .'Iny compromise or sett,lernent ill conliectioll Nvith such taking -or dollial"(% All such
<br />I q
<br />com pellsat ion , , I rds, daninges, right (if action and proceeds are as�:' :gllt,(l to the N-lorigagee, Who illav, after dedm:ting
<br />therefrom all its expenses. releast, am. monevs so received hN,, it or ;lppIV ill(, szilll(. oil "Iliv indebt0diless, secured 1wrobv. Tho Nlo0-
<br />g�jgor agreos to oxectito such fort1wr assignments of aliv cot wards. dania!,,cs. no(l riijits (if �111(1 pjcccod�, as the
<br />Nlortgligvc may require.
<br />That ill C�Ise of failure to perforlil any of ill( 'covonalit.,; herein, tilt
<br />SO COVeMilited; Wat the Nlortgagee illay also do ally act it. may devill lit -0
<br />rep,,ly j1poll ;111N, diAmirsed I)v ill(, Nlortgager for
<br />, paid ol
<br />interest thereon :if the rale proVidt'd ill Slid 110tV S11:111 I)L'COIII(' So MUCII
<br />cluded ill allY do'e'ree'foreclosing this Illortgage and he paid out of ill,, rc
<br />paid: that it S1111171 not he obligatorY upon flit, N, Tort gagee to inquire into
<br />valicing lilolley.; ;is above alithorized, but nothing herein contained shall
<br />nioneys for !Ill\' SlIC11 J)Lirpose nor to do any ad. hereunder; and that Mort
<br />thing, it. inaN, (to or ornit to (It) lieretifider.
<br />do ()it fit(, Nlortgagor's behalf
<br />�sarY to protect ill(, lieri flivreof: Illat ill(, %lorigagor will
<br />;111% of thc ;11)0\'(! �llld s"Ch together with
<br />:ldditi(?ll1d iildvht(,dnvs-,� herubv 4(�ctired ;Ili(] may be ill -
<br />its or proceeds of �ale of s;ji(I premises if ilot otIj(-r\Vis(�
<br />ill(, validitY of nliv liell, encumbrances, or vlaim ill ml -
<br />w cons triled as requiring, Ili(. to :IJIV
<br />�11411010 shall not illcur ;Ili.%, personal liability bermlso of ;Inv -
<br />In the evelit of ill(. default bY Nfortgagor. ill tilt' payllielit, of an.v! instalfnient. I,; required by the Not(_. secured livrobv, or
<br />ill fit(- perfornimice of ill(' oNigatioll ill this lliortgrage or ill the note si,cuH d tlivr'(�b
<br />y, the Nlortgagee shall he entitled to declare ill(,
<br />debt secured hereby (fit(- arId payable without notice, and the Nlortgagee silall be lintitled at. it.,; optioll. NVith0lit notice. either by.itseli
<br />or by ,I rcccivei7 to he appointed by the court thereof. III(] withotit regard! to tilt' idecimicy of arlY security foi- ill(. ilidebtedlit'ss se-
<br />cured hereby, to enter upon and take possession of the mortgaged premises, and to collect. 111(1
<br />I r1'c('iVV HIC rellis, isljos ;Ill(] profits
<br />thereof, and apply the sarne, less costs of operation and coII(1Vti:)n. llpolil ill(' indebtedness secured by this illortgage: said rvnts,
<br />i
<br />issues and prQfit-s being hereby assigned to the INTortgagoo-as ft I rth tr sectiritIv, for file paynivrit of ;111 ill(lpI)t(,(Ilj(,ss svenred 1wrobv.
<br />f
<br />Tlik, Nlort";19CO S11,111 have tile power to appoint ally agent or ageilts it may desire for the purpose of -(,p�jirillg s.ji(I I)r(,Ill-
<br />ises: ronting tho sanic; Collecting (it(! rents, revenues and income, 111d it hVIV JKI�' 00t. Of SZlid illConle ;111 (,Xp(�Jlsw� illc
<br />I . urred ill ront-
<br />ing and nlallagirl�f the saine and of collj�vtillg the rentals therefrom. Th'(- balanco remaining, if aliv. shall he applied toNvard the
<br />discharge of -the mortgage indebtedness. This assignment is to tvi-minatt and becolliv 111111 and void upon rvIvasv of this niortgag(%
<br />
|