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Home My WebLink About2650 ~ t . ~ . . . s , . ~ t i . ~ 1• ' ~ ~ . ~ ~ ' I a ' ~ Aoe~, ar impositions~ to~ whieh pwvblon has not bs~a anade henlnbefor~. ~?nd in d~fault thereo! the raort• , ~~ss u~r pa~r the aame: snd tlu?t he will promptl,y deliver the o~cial rece~pts ther~for to the mort~~ee. '1!u?t he w~q pernalt, oontmit~ or suRer ao waste. impairmeat~ or d~terioratlon of ssid PropertY or ~t thereof; aad iu the eveai oi the tallure o! the mort~s~or to keep the buildit?ss oa uid premis~ ~ t,o be erected oa sajd premise~. or improvements thereon, in Qood repair~ the mortaa~ee may malce such repnin ss in its discretion it maY deem necea~ary tor the proper preservation thereof~ ~nd tha tull amouat of each snd every auch pnyment shAll ba immediAtely dwe and pxyt~ble~ and ahall be secured j by the lien of thu mort~~e. 6, That he will p+?y ~ll an~ ein~ular the costs~ char~, And expenses~ includin reASOnsble I~wyer'~ iee~ and co~ts oi ab+tracts of tttle~ ~ncurred or paid at s?ny time by the mortQagee~xuse of the f~ilure on t~e part of the mnrtQa~or promptly And fully to perform the s?~reementa and covenanta of said prom- isaory note ~?nd this mort~a~e~ and ai?id cogta, char~es~ xnd expenses shall be immedixtely due and pay- ' j ~ble and shxll be secured by e lien of this mori~age. 7. That he will keep the improvements now exi~tinQ or herealter erected on the mort~x~ed property, insured as may be required from time to time by the mort~a~ee ~Ainst loaa by fire And other haa~rds~ casualtiea, ~nd contin~enciea in such amuunts and for such peridda aa may be requ~red by mort~a~ee, ~?nd wiU ps~y prnmptly. whea due. any premiuma on such inaurj?nce for payment of which provision hau not been made hereinbefore. All insurance ahall be carried in comp~n~es approved by mort~a~ee and ( the policies and renewula thereof ahall be held by mortQx~ee ~~d have attached thereta loe~ payable clqusea in isvor of and in form acceptable to the mortgagee. la event of loss he will ~ive immediate 1 nMire by mail to mort~a~ee~ and mortga~ee may make praof of losa if not made promptly by mortga~or, + ~?nd esch insuraace company concerned i8 hereby authorized and directed to make payment for such l loea directiy to mort~agee instead of to mortgagor ar~d mortgagee jointly~ and the insuranee prceeecis, or : I anyp~?rt thereof~ mAy be applied by mortga~ee at ita option either to the reduction of the indebteciness her@by secured or to the restoration or repair of the pro}~rty dsmaged. In event of foreclasure of thia mort~a~e or other tranafer of title to the murtgaged property in extin~uishment of the indebtednesa secured hereby. a11 right~ title, and interest of the fnortgagor in And to any insurance paliciea then in force ah~?q pa$s to the purchascr or Qraatee. 8. That the mortgagee may~ at any time pendin~ a euit upon thia mort~aQe, apply to the court h~v ln~ juriadiction thereof for the appointment of a t~eceiver~ and such court shall forthwith appoint ~ rereiver of the premises covered hereby ail and singular~ includin~ all and eingular the income~ profits, isaues~ snd r~venuea from whatever source derived~ each at~d every of which~ it being expressly under- ~ stood~ is hereby mort~aged aa if apecitically ae~ forth and described in the grAnting and habendum clauses ~ hereof~ and such receiver ahstli have all the bros?d and effective tunctiona and powera in an~~wiae entrusied by a court to a receiver~ and such appointment ahall be made by such court as an admitted equity and a matter of abaolute right 4o said mortgagee, and without reference to the adequacy or inad- equacy of the ~alue of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendanta. And that such rents, profits. incurne~ isauea, and revenues shall be applied by such recei~~er accordinQ to the lien of thia mortgage and the practice of such court. In the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortga~ee an demand as a reason- ~ able monthly rental for the premises an amount at least equivalent to one-twelfth (!~2) of the aggregate ' of the twelve monthly installments payable in the then current year plus the actual amount of the annual ~ taxes sases~ments~ water ratea, and insurance premiuma for such year not covered by the aforesaid mont~ly pnyments. 9. That (u) in the event uf a~~y brrach uf this murtgage ur ~lefault uu the part of the ma•tgaQor~ a• (L) iii t1?e event that ai?y uf said sums uf moi~ey herein i•~i~rred to be not prom~tly and fully paid r~~ith- uut demand or uotice, a• (c) iii the rvent thttt each aud every the stipulatiuns, agi•eements. conditions~ and covenants uf said note and this mortgage, aj•e n~t duly~ prumptly~ and fully performed; then in eithei• oi' Aliy ~UCII t'\•eut, the saict aggregute sum mE~ntioned 111 9Hlt~ note then r~~maining unpaid, ~vith intereat acerued to that time, and all munrys secured hereby, ahall tH.~t.utne due and payable forthwith, a• thereafter~ at the optiou uf said mortgage~, as fuU~~ and completely as if aU af the said sums of money ~~~ere orginally stipulated to lu~ paid on such duy, anything in said i~ote or in this ma•tgage to the contrary noh~~ithstandi»~; and thei-eupo~i or thereafter, at the option of said moi•tgagee, t~~ithout notice or demand~ suit ~?t la~~~ or i~~ equity, may be pros~cuted as if all mo~~eys secu~•~ci heceby had maturecl priar to its insti- tution. The moi•tgagee may forec:lose this moi•tgage, ~s tu the amount so decla?•ed due and payable~ and the said premises shall be sold to satisfy ~nd pay the same together ~~•ith costs, expenses, and allowances. in case of partial fureclosure of this morigage, the niortg~gecl premises shatl be aold subject to the con- tinuing lien of this mortgage far the amount of the ~lebt ~iot then due and tinpaid. In such case the pra ~•ision9 of th~s pai•agraph may again be availed of thereaftei• from time to time by the mortgagee. 10. That the mu~•tgagur ~~•ill give immediate t~otice by mail to the murtgagee of any conveyance~ tra~~~fer~ or change of o~~•nerahip of the premises. 11. That no waiver of t~ny covenant herein ur of tt?e ot~ligatlon secua•ed hereby shall at any time thereafter be held to L?e a waiver of the terms hereuf or of the nvte secured hereby. 12. That if the mortgagor default in any of the covenanta or agreementa contained herein, or in aaid note~ then the mortgagee may perfurm the same~ and all expenditure~ (including reasonable aktar- ney's fees) made by the mortgagee in so doing shali draw interest at the rate set forth in the note secured ~ hereby, and shati be repgyable immediately and without demand by the mortgagor to tt?e mort~ee~ and, together with in~erest and costa accruing thereon, shall be secured by this mnrtga~e. 18. That the mailing oi a written notice or demand addressed to the owner of record of the mortgaged ~ premises, ar directed to the said awner at the last address actually furnished to the mortga~eee or directed to s~id owner at s~tid mort~taSnd preml~ar, and muil~d by th~? Uaited StAtes mAils, shril be suft{eient notlc.~ ~tad demand in any c~se arisin~ under this instrument and required by the provisions hereof ar by l~w. l4. '1'he mortgagor covenants and agrees that so long as thia mortgage and the said note secure~ hereby are inaured under the provlsions of the National Fiousing Act, he will not execute or file for record any inatrument which imposes a restrictiun upon the sale or occupancy of tne mortgaged property on the ' basia of race, colar, or creed. Upon any violation of thia undertaking, the mortgagee may, at its option~ ~ declare the unpaid balance of the debt secured herei~y immediately due ar?d payable. s ~ ~ ! t F ~ . • . r ~