|
THIS MORTGAGE IS ALSO TO BE AND.CONTINUE TO BE, FROM TIME TIME, SECURITY FOR THE P��,MENT OF SUCH
<br />SUM OR SUMS OF MONEY AS THE MORTGAGEE'MAY FROM. TIME TO TIME I THETUTURE ADVANCE TO THE MORTGAGOR, AND
<br />EVIDENCED BY A SUPPLEMENTAL NOTE OR NOTES, BUT THE TOTAL INDEB ESS SECURED BY THIS MORTqAGE SHALL NOT
<br />E I XCEED ONE HUNDRED TWENTY (120) PER CENT OF THE AMOUNT NOW OWINP, EXCEPT FOR ANY ADVANCES THAT MAY BE MADE
<br />TO PROTECT THE SECURITY IN ACCORDANCE WITH THE TERMS OF THIS NICRTGAGE.
<br />THE MORTGAGOR FURTHER COVENANTS AND AGREES
<br />a
<br />That ill(, Ivlortgagor will: pay the indebtedness Is liereinbeforo provif e 1. 1:
<br />That the Nlortgagor is the owrwr of said property in fee simple ,it (I ha4. good right and lawful antl.iorit.y to soll and
<br />conve I 'I ill, 9 , !
<br />y file same and that thesaine is free and clear of any lien or encumbran �i in.( -it Nlor(pa or will warrarit:alld dvfend:t1le
<br />title to said premises against, ill(! clainis.of all persons whoillso!wer.
<br />To pay immediately whon (lit(- and payable all general t*axes, special taxes,:,
<br />, pocial assessnients, water cliarges, sow(-rserv-
<br />i( ied �on ill(, debt sectired hervi) i "I
<br />!o cliarges. and other taxes and charges against said property, and all taxes e, y. ;?nd to furnisli'tho
<br />Nlortgageo, upon request, with ill(- original or duplicate rec(,ipts therefor. 'H� 1%lortgagor agrees that there hall"he addwl to
<br />orich inonflily payment required lierounder or under the evidenc. � f debt 1141c, 1 11 ed f wroh.v ;in aniount. estimated �w.'I:lw Nlortgagvr�
<br />as thev beconle Ille. all tax(-�, asses�nwnts. and similar vharg(:�s t6mll ill(' prelli-
<br />to he suffici(,�llu to enable the %lorigagoo to pa� , :1
<br />I al
<br />ises subject. thf,reto; any deficiencY becallse of tile insufficiency o'r suell addit o , 1), yn)"llts, "liall he forthwith: deposited b.% the
<br />Nlortgagor with the 'klorlgagee upon demand by, the 1%lortgag(: e. AnN d(4ault under this p;iragraph shall he (l(:(-itwd a default in
<br />paynient. of taxes, a,,sessinents, 6r similar cliarg;es required llvrvund(�r.
<br />The Nlortgagor agrees that there sliall also be added it, vach niont�il pa ynwnt of,principal an(] ink-ri,si -i*equired ll'v�re-
<br />under ,in aniount estimated bv the Nlortgagee to be sufficient to ellable ill(! I\lo I
<br />tgagee,to pay. as it beconles ditie.-:ihe insunince
<br />premium on any insurance policy' delivered to ill(, Nlortgagee. An\ deficiellcv b,callike of I lic � ill,�tlflieiclicw of sm:11'additional ]'MV-
<br />nients shall be forthwith deposit(�d by ill(, t'\Iortgagor with till, i\lortgagce upo 1 dernand hy ill(- Nlortgagee. Any flefault. lulderlthis
<br />pz;ragraph shall be deemed a default ill ill(, paym��nt of iwurarlce prelilill ills. I dw, polic * N. or p6licies depo�it('d -li(l:sllcIl as
<br />owners or all risk policies. and tho deposits art- insufficient to p;i,, ill(, entire 1 renflurn, ill(, Mortgago(l. may ap ds the deposit, to
<br />pay preniiuzii.,� oil risks required fo he insured by this niortgage.
<br />Pavillent's niade I)v ill(! -Alortgagor unfler' thu, above parli:
<br />!graphs fimy. t ill,- opt ion of Ilw �Mortgagvl.. be�jpdfl by it and
<br />commingled with other SUCh funds or its own funds for the payment of such i lls, 1�llld until so.:tpplied, �ttch paynients aro horp1w
<br />pledged as security for the unp:p(l balance of t1w inortgage indebtedness.
<br />To procure, deliver to, and maintain for ill(, lwnefit (if 11w Nlortgage- luriiig ill(- life of.this inortgage olliginal policies a . not
<br />renewals thereof, deliver(ld at. least ton daY's IwforV lilt, expiration of ;in%, su(Ii policies,insuring ;igainst firt, aili(Pother insurable
<br />li,iz;ir(i*.;, casualties, and contingencies as the Nlbrtgagee nlay require, in in i lou'lit equal I to the indvbtedrips.� skured bly, this
<br />Afortgage, and in companies accej)tablo to the Nlortgagee. with loss payable clilu�b iii favor of and in form accf,pt"OlIt'. to the N-lol:tga-
<br />gve. Ili the event anY policy is riot. renewed oil or before ten &iYS of its exp H.1ion. ill(- Nlornagoe inay proclirl- insurance on' thrl
<br />improvements, pay the prendinn 4herefor. and such surn ,Ii;lll bec:)1lit, ioullediii lt0v due and paynblt. xith iiilt,r(!.,t ;it ill(. set
<br />forth in said not(, until paid alvl� shall be secured bY this illortgoge. Fail6re o I (he ))art of ill(! Nfortgagor if) I'll rliis.h' such rt-M-wals
<br />a
<br />are herein required or failure to pay ;my sums advanced hereunder shall. i t the!option of the a dol�'IIJII
<br />under ill(, ternis of this niortgag(i: The delivery of suell policies shall, ill the t. it of d(.fallIt.` constitute an of
<br />earried premitini.
<br />Any sunis received by the 'Oortgague 1) , v reason (if lo��; or darriage i�isurt�d niaY he retainvol !hY �tlie 'Nlortg.- , Igoe
<br />and applied toward the payinent (if Iliv debt hereln, svctirvd, ('ir, at. ill(- opt o'i o( Ille Nlortgage(-, Such surns oitlii.-r whollY or in
<br />agor to.he usedto rvp�lir such buildings o- to�bllild'rww building., in ill . eir or for any
<br />parl. nia-, be pai(O over to the INI.ort,
<br />other purpose or object satisfactory to tho '\Iortgag(-o without
<br />iffecting, tho I v I oil! ill(, niortgage for ill(- full aru�liunt s(wurod li'(-re.
<br />by liefore such payment ever took phice.
<br />To promptly repair, r(�.,;tory or rebuild anY building -s (or p6w or hereafter on ill(, prvinil�vs 'which n1a.y' he -
<br />come dalliaged or' destroyed: to keep said preinises in good condition and rep ii - :in( , I freo from any nwchanic*,z li.en orother lie I n or
<br />claim of lien not expressly stihor(,finated to the livii hereof: not twsuffer or-jwr nit any linlawfill llso (if or anv:11-ilis"Ince to vxil;t oil
<br />said property nor to perillit. waste oil said prernises, nor to do ony other act v. herohN the property hereby cowleved shall beconle
<br />valuable, nor to dimini.Ai or impair its value by :in\, act or orni.—ion to aet: it. comply with all rvquirelllellt�i of la%�- with res'pect
<br />to the ni(irtgagvd premises and ill(- use theroof.
<br />That should the prenlius or an , v part thereof ]w taken or dainaged 11 , V reasJon (if in.\, public hoprovenwiiCor f-oridenniation
<br />proceeding. or iinder the right of enlillent dornain, or in all%, other manner, tL. Nlor(gagee shall' he mititled to il-ill 'compen,;ations,
<br />o coninience, apiwar in ajid:Ilros(-cutc in its
<br />awards, in([ any other payment or relief therefor, and shall he e . fit.itled. at, its loptioli, t
<br />own name any action or proceeding, or to make any compronlise or settlerno 1, ni in �.-onlwetion with Such taking ( 1:r'daniage. .%It ,lich
<br />compensation, awards, damages, right (if action and proceeds are hereby ;Is, il nedl: to the 1%lortgague. who after deducting
<br />therefrom lilt its expenses, rvleas(; any nioneys so r(-c(-i\,(,(l by it or apply ill(- a ne on any indebtedness secured ;Iwrehy. The Nlort-
<br />gagor agrues to execute such further as,,ignnients of ,in\, compensation, award ', da6iages, in(] rights of action' and prolcv(-(k as the
<br />Nfortgagee inay require.
<br />That, in case of failure to -perforin any of the covenants herein, ill(- rt ,agvp may -(to oil (ill, %lortgag6r'.�'.1whalf everYthing
<br />so c(AlVill a iecesgar tect the lion' thereof: that Ili, iNlortgagor'�\vill
<br />anted; that the Alortgagt!e rilay also do any ', ct, it. may deern i o p! o
<br />repay upon demand any moneys paid or disbursed by the NIortgaget, for any 0 tllc� above purposes, and such m(pievs! together with
<br />interest. thereon at tile rate provided in s -aid note shall becolne 'so nitich add tional indebtedness, herelw securf4l and mav he in-
<br />cluded in my decree foreclosing,illis mortgage and be paid out. tif ill(, rents Or prpeceds of sale of said premisc'-s:if not o,therwise
<br />paid; that it shall not be obligatory upon ill(, Nlortgagee to in(Inire into the v diditv of in%, lien, or claini irlr.,.I(I_
<br />vancing money,; as above authorized, but nothing herein contain:Cd shall lit- c qiitru�'-ol tis rec'juiring the %lortgag.'et, fo advance any
<br />moneys for any stich purpose nor to (to any act hereunder; and that 'Oortgage llall;: not iticur anY personal liabi�it* iwcause of 111M -
<br />thing it may (it) or ornit ill do herounder.
<br />In ill(! everit of the defatill, I)v Nlortgagor in the payinent. of any ins a 1,,,,,,Jt. required hl� the Notvlsv�urvd lierobv, oil
<br />in the performance of the obligation in this mortgage or in the note secured tG�-ebyl the Nlortgagee sliall be entit1l,(I to declare tile,
<br />debt sbcured hereby due and payable without notice, and the NI(irtgagee sliall entitled at its option, without notice, either by itself*
<br />or by a receiver to Ile appointed by ill(! court thereof, and without regard to t�
<br />Ill- ade.quacy of anl�' securitY for: the.indebtedness se, -
<br />cured hereby. to enter upon and take possession of the mortgaged premises, 11(1 to! collect. and receive the rent.4. issnes and pr I ofits
<br />thereof, and jipp!y tile same, lcs�s costs of operation and collection, upon the I i�ideiitudness secured 1) 1 v this nid.rtgage; said rents,
<br />issues and profits being hereby u�signed to the IvIortgagve as further wcuritY for tile payment of all indelitedness sowured liervhy.
<br />ve tile power to appoint my age n't or agents
<br />The Nlortgagee sliall lia . it ay� desire for ill(, purpose of:rdpidring said prem-
<br />.ises; renting tile same; collecting the rents, revenues and income, and it may 1 1) iy o tit of said income all exp(qjso�-s in . curred in rent -
<br />and managing the same' and of collecting the rentals therefrom. Tile; bal nc e remaining, if my; shall be,lipplied towar(Ftlle
<br />discharge (if ill(, mortgage indebtedness. This assignment is to Aerininate all( )(,('(line mill an&void upon relea.le of� this mortgage.
<br />
|