|
010760
<br />THIS MORTGAGE IS ALSO TO BE AND CONTINUE TO BE, FROM Tim 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 DVANCE TO THE:MORTGAGOR, AND
<br />EVIDENCED BY A SUPPLEMENTAL NOTE OR NOTES, BUT THE TOTAL INDEB� DNESS SEC RE BY THIS MORT'GAGE SHALL NOT
<br />EXCEE ' D ONE HUNDRED TWENTY R NY -ADVANCES THAT MAY BE MADE
<br />�(120) PER CENT OF THE AMOUNT NOW OW NG, EXCERT F
<br />TO PROTECT THE SECURITY IN! ACCORDANCE WI�H THE TERMS OF THIS MORTGAGE.
<br />THE MORTGAMR J7URTHER COVENANTS AND AGREES
<br />That the INIortgagor will pay the indebtedness as herein he fore pr
<br />o I( ed.
<br />That tire Mortgagor is the owner of sli(i property in �fee simple Z'lod It,,,, gmd, rigi t and lawful Mlflloritv to �sell and
<br />convey ill(! slime and that the slm'(! is free Ill(] clea'r of ,Ili lien or encurnhi-Xii -v: and that. i'\lo tgagor will war ' '
<br />y rillit "lind defend ill(.
<br />title to said premises against. the clainis of all po��rsons whomsoever.
<br />To pay immediately whell d1w and payable all general taxes. specli. f laxes, spocial as, �ssmerits, water (jill
<br />I rges, sewer suarv-
<br />ice charges, and other ta%es and charges a'ainst s;ii(I property, and all taxe (I oil thei jand to furnisiv"tho
<br />i * , , i evio (Ich. secured hereby
<br />Xlortgagee, upon request, with the original, 6r duplicate receipt,; therefor.; I lie i%lortgag)r azi-ves that therv; 'hall be added to
<br />each monthly payment required hereunder or miller tho evid ired, herch art ;- mou it t, . vAirnatc(I b.\; tho N-lortgagee
<br />to he sufficielit to enable fit(, Xlortgageo to pliv, ris thev beconle (Ille, all th" vs.
<br />'Issessillelits, -ind sinlilar.Chlirges:11poll ill(' prolli-
<br />ises subject thereto; any deficiencY hecause of the insuffic.it'llcy of such .11 I'lltimal 1);1YInents �Imll lie fort hwit 11 7 fleposi I ted by (Ile
<br />INTortgagor with ill(! Nlortgagee, upon demand Im, 1 the Nlortgagee. AnY (11.f; I t. tu'lder this par lgraph Shall be d6nood a (h.fault in
<br />Of
<br />- -nients. or similar chargesl required hereunder.
<br />assess
<br />The INfortgagor agrees 'that there sliall al'so he added to (qI(.11 ,lot
<br />lQily I'?aynient: Of. I rincipal and inh�rfl,:�.t required here-
<br />tirlder.all alliount, estimated 1) , v ill(, lNlortgagee to I)(! sllflivit�llt to enlible the N'T . :rtg�:;,ve lo�pm, ;ls it beconles :duc, the in.,urance
<br />1)remiuni (,it any insurance polic ' v delivered to tile Nlortgagee. AnY (IL-fiCielIC eca ist, of dw'i I.L�utlicienc- -s6ch additional pay -
<br />I y of. . ..
<br />rnents shall he forthwith deposited I)v tho iNlortll�or with ill(, Nlortgagee ul o 1 (16 1 1 ill(, Nlortgagee. Ari�! dufault under this
<br />raph sliall be deemed I
<br />para, a default in ill(. pavine I lit of illsorzilice pi-villitilm. If Ifi:,lop. I i 1-licies (1(.posiled are'such as hollie-
<br />owne rs or all risk policies, and the deposi t s lm! in.,;ufliciellt. to pay the enti prel I pium, litle _N ortgagee may :IkAy! the doposit tit
<br />pay premiums oil risks required to be in.�mrcd' by this niort',lage.,
<br />optiU,1I,(d ill(- hi-beld Im. it and
<br />I'aYnlents made 1) ' y the'Allortgagor under I'lle above paragraph.,; Ina, at 1.11(
<br />commingled with other such funds or its own funds for the payment of Such it;,nisi, and Imol S( applied, stich pjl%1
<br />I)Iedged a., security for ill(, unpai(I of ill(, Merits are herobY
<br />�llortgage inJebtedness.
<br />To procure, deliver to, mid maintain lot' the twilefit of the Nlortgag,�( cloving t1w Ifle ( f this niortgage.(4riginal policies and
<br />renewals thereof. delivvi-ed lit *Ieast ten days h4or(I the expiration of an� I , S11 ! .
<br />it(, I policies, insuri I, against fire an(*J,o,tIwr insurable
<br />liazar(Is, Casualties, and contingencies as the Nfor(gagee may require, Ili in anjolint equAl to (lie indvbtedn(�'Ils'i 'sccured by this
<br />Alort,age. and in companies acceptable to tilt. �vjorirzagoe' with loss payahle (!I,' lise i I, favor �jf at (I in forin accop(dil to tilt.
<br />Nlortga-
<br />-ev. In the event any policy
<br />g js�not. I newed oil or! hpforl, tell vs of its exl)i alion. the IN ort;llg(�c 11my procuiro insurance (in ill( -
<br />and suchJsuill sit t.
<br />improvements, pay the prernium tlierefor.�. all bec
<br />I �)Illv inullet I " 1 3,; ( it(' lilt( ));Iyable 'willl irliellest at ill(, rate Set
<br />'forth in said note until paid allot sIli,]] 1)(� s(,(j:rvd bv Ihis mortgage. Failure ')I tll(i Imrt of t1w %4ortgagor to furnisil'such renewals
<br />,I.,; are. herein required or failure to pay :Ili I I'
<br />y s Ins hen!urider .11MIL ;1 010 ol)tion of thv Alortgagee, ("mistitilt(. :1 default
<br />.under the ternis of this mortgage. The delivery of st'ich policie,; s
<br />Of dehill I. milstitiltv an assignment of tilt, On-
<br />fearned promium.
<br />Any surns receiverl by the 'Nforiga"ce by
<br />(if loss or darnagr' insured ajzaih�l
<br />r-aso. -1 , v hot retaitle(I li.v�: t1w NlOrtgagce
<br />'uld appliwl toward the pa�'Illullt Of Iliv debt hen!by secured. :or. lit (he oliti Or (if the '\I4tg;-,ge(.. such stillisie I ither wliollv or in
<br />part nim .1 .
<br />he Imid over to file N-Jortgagor to be liscil it) r(,Ij;iir stich huilding 0- tol in the-il-I)Iace or for ,Ili\'
<br />other purpose or object satisfactory to the 'N I rtga gce without 7"Iffecting, t1w Ii ti) oil ill(. 11-ir'!rliza ,v for the kill a'liio iiint socured lier(�
<br />by Iwfore such payment ever took plave.
<br />To promptly repair, restore or rebuilil aliv hoildings or imprOVVIII I is rl� ; ( o)- 1141rca tor oil ill(, preid S;wllich wav be-
<br />come damaged or destroyed; to keep said pretillses Jill good condition and reymir u'):\," free frillill 111%, Illechanic's' li(,ii or other Iii -n or
<br />claim Of lien riot expresslY silbordillated to ill(! lien livreof: riot to suffer or pdri I . it aliv 11111; lklful use of or any iiiiis;ince to oxist ()I,
<br />said property n6r to pormit, w-'Iste On stlid PI'VilliseS, nor to dwari.v other ;1(: vilvrebY flw�proj orty liereb oli . vc�\`Vd shall become
<br />less valuable. nor to diminish ()I- impair its vahie Iry ;!Ill%, ;",'t, "r onli-"ion to wiih -qui -( I t
<br />e6mid.\ -I I r( I 'I I �11 s pf'law with respect.
<br />to tile niortgaged premises and the Its(, thereof.
<br />That should the pi-Clill."(1.1; Or :111y parl flwro:,of be fliken or damlig(.(l NIZISO 1 of a v 1) lbliv improvenwilt.61- condemnation
<br />�procevding, or under the right, e)f ernizient (I aill, (I>r in any other marmer, t�ll X I r
<br />oill, I I age(-Islia. I he entitled !to; ll�jj �olllpenslltiolls,
<br />awards, and any other payment or relief therefor, aild shall he (:q1tifled. "It. its, ( ption, to Vollltll�� we. appear iii ;jnd -pros(�cute it) it -s
<br />,own name any action or proce;!ding, or to make lit ! IN, conipromisi� or settlemill I in,collnectikil m i 1) such takin', Or'dainage. All such
<br />coin pensation, awards, daniligv�',- right of action and proceeds it-(- hereby to tile illo -
<br />i '\ igague, who mAy, after oeducting
<br />therefrom all ik expenses, release any moneys so r(�ceivvd bY it or apply tile s: Ine I on any A tednes"; , il, \Iort-
<br />. . I' i[ldt Secured, (�rc[)Y. The �
<br />,gagor ag ' rves to execute such further assignments . o f any comp("llsation. award! , dn Inages. and iilits Of actioh'�ind proevvd,, as ill(,
<br />Nfortgagev may require.
<br />That in ca.se of failuro to perform all 01 tile Nrlorig;
<br />.v Of til(� vovc nants berein. ill Nlor gag(.1e I'll.lY (
<br />I Igor,s bell * alf everYthing
<br />.so covenanted; that the iNlortgai,ee may also do an�ljacl it. may dvern necessar t 6 1) , r( tect.. tdo li( it thereof: I rat ltllem 1\lortgagor will
<br />any nione paid or disbursed by the r
<br />repay upon demand , I
<br />Nlorigagve for any f fit(:- above 1�11 Imses. and sm-11:1-riolloys together with
<br />interest. thereon lit the rate provided in said riot(, sliall becolllo;so much lilt( itio'llal im - lebildne;s livrehY sectir,i�d i . Ili(] mli.v be in-
<br />cluded in tiny decree foreclosing- this mortgage and be paid out 'of ill(! rents )I 1 1-6 1 ceeds of sal, of ,;;lid prvrni.�vs if riot otherwise
<br />paid; that it .1hall not be obligatory upon ill(! X16rilgagov to inq:uire into the N:Ili'
<br />ditY of ally Ii.ni, vnclwnbran(�(,.�;, or daini in ,I(] -
<br />v -iiicing nione . , t i
<br />ys as above atitliorize(l, blit nothing li(�reiji contained shall be
<br />c n,strued as requir it, lie N�Iorigavp 'it) advallc(. ally
<br />n
<br />ioneys for any such purpose nor to (lo tiliv avt, liert4inder; and that Nlortgage 41�ali riot incitr it por.,mnal liabi lif Of aliv-
<br />:thing it may (to or ornit to (to heremider.
<br />Ill tile eVVIA Of file default b.� Nlortgagor in the paymmit. of ally ins'al It. a.q ro., �d IW tile Notvl.q('�cured hereby. or
<br />I Illie'l 'elifil
<br />�hi ill(,- performance of the obligalion in this mortgag, - or in ill(, note secured thureb);, tile XIo,rIg;]gee be entitled to declare: tilt,
<br />debt s ' ecured herebN (Ille and payable without jiotiee,� and the Nfortgagee shall k entitled at. ds ol lion, without lI(!!ti`Co�t either by i . tself
<br />.or by a receiver to be' am)oilltedd)y the court thereof. and witliq . lit regard to I 1 11 - a&quacy (I f
<br />cured hereby, to enter upon an� take pos� I . ary security for 9w'. indebtedness qe-
<br />es.qion of!tlie mortgaged premises, iii d to collect Mid -eceive tile mrttii.'i ties and profits
<br />Ahereof, and apply ill(! s;llne, le��s cost,,; of operatiohiand Collection, upon the indebtedness .11'eCt red by this tile'
<br />i . .)rtgage: said rent.,;,
<br />issues Intl lnofits� being hereby �fssigned to tile Nfortgilgee ,I.,; further securitv fo� I I .
<br />I heipayment of a I indebtedness secured hereby.
<br />Tile IV16rtgagee sliall Julve ill(- power to appi)int. any agelit. or ageirts ilt may desire for the inirpose of� riq')ai'r'ing said prem-
<br />i.ws; renting the same: collecting tire rents. revenue,4 and incon, I
<br />ie, and it nia,, pay out of s*;Ii(I in .,onle all in rent-
<br />ing and managing the ,;,line air(] of collecting ill' !entals theriefrom. The ball . . i . 1111v S11-111 I)(' 'alilflied toward tile
<br />discharge of file mortgage inr e r lice remaining, I - :
<br />lebtedness. This assig r,unent is to tvrminat(� airfil w.cor'lle null And loid upon rvlea.�(.'of this mortgage.
<br />Z
<br />
|