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Home My WebLink About0402 tines, c>r im~sit?un~, tur ~~~hu•h ~ru~•isiun has nut t?een made hereinbefore, anci jrl ~~ef~tult ther~~uf th~~ murt- gagee may pay the same; and that he will prornptly deliver the officisl receipts therefor to the murtgagee. 5. That he will permit, commit, ur suffer no waste, impairment, or deterioration uf said propert~~ or any part thereof; and in the e~•e~~t of the failure of the mortgagor to keep the buildings on saici p?•eriiises At;d those tu be erected on said premises, or improvements therean, in goo~d repair, the mortgagte ma~• make such repairs as in its discretion it may deem necessary for the proper preservation ttrereof, ancl the full amount of each and every such payment shall t~e irnmediately due and pay~able, and shall bt sei~ured by the lien af this mortgage. , 6. That he K~ill pay all and singular the costs, charges, and expenses, including reasunable la~~•~•er's fees, and costs of abstracts of title, incurred or paid at anS• time by the mortgagee because of the failure on the part of the mortgagor promptly and fully to perform the agreeme~tts and co~-enants of saici prorn- issory note and this mortgage, and said costs, charges, and expenses shall be immediately due arzd pa~~- able and shall be secured by the lien of this mortgage. 7. That he witi keep the improvements now existing or hereafter erected on the mortgaged propei•tt•, insured as may be required from time to time by the mortgagee against loss b~• fire and othe?• hazarc~s, casualties, and contingencies in such amount.s and for such periods as ma~• be re<~uired ~y martgag~~e, and will pay promptly, when due, any premiums on such insurance for pa}•ment of µ•hich prorision has not been made hereinbefore. All in~urance shall be carried in companies apprc,~•ed b~• mortgagee and the policies and renew•als thereof s a7T`~` held by mortgagee and ha~•e attached thereta loss pa>•able clauses in favor of and in form acceptable ta the mortgagee. In event of loss he «•il! gi~•e immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptl~• b~- morigagor, and each insurance campany concerned is hereby authorized and directed to make pa~•ment for such loss dir~etly to mortgagee instead of to mortgagor and mortgagee jointiti•, and the insurance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebteciness hereby secured or to the restoration or repair of the property damaged. In e~•ent of foreclosure of this rr~ortgage or other transfer of title to the mortgaged property in extinguishmPnt of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. 8, That the mortgagee may, at an~• time pending a suit upon this mortgage, appl~• to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forthw•ith appoint a rec~i~•er of the premises co~~ered hereby all and singular, including all and singular the income, profits, issues, and revenues from whatever source derived, each and every of w•hich, it being expressly under- stood, is hereby mortgaged as if specifically set forth and described in the granting and haben~3um ctauses hereof, and such receiver shall have all the broad and effectiti•e functions and pou•ers in an~•~~•ise entrusted by a court to a receiver, and such appointment shall be made by such court as an acinzitted equity and a matter of absolute right to said mortgagee, and without. reference to the adequac~• or inad- equacy of the value of the property mortgaged or to the solvency or insol~•ency of said mortgagor oc• the defezidants, and that such rents, profits, income, issues, and re~~enues shall be applied by such recei~•er ascording to the lien of this mortgage and the practice of such court. In the e~~ent of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee c~ demand as a reason- able monthly rental for the premises an amount at least equivatent to one-t~•elfth (11.~ ) of the aggr•egate af the tw~el~~e monthly instaliments payable in the then current year plus the actual amount af the annual taxes assQSSments, H•ater rates, and insurance premiums for such year not co~•ered b~~ the aforesaid rrfont~Ig• payments. 9. That (ci) in tiiE~ ~~c~~rt uf an~~ l~rk~ac}t ut this nturi~;a(~c ur ~i~~f~~ult ~~n tl~c p~irt i~f thE~ mc;rtKagor, ur s 1~) in tht e~t~irt tl~at ai~, ~~t sa;ci sums of mone~~ hE~r~~in referred to be not pr~~mptl~- an~i ftillt• paici ~~•iih- uut deman~i ~n• uoticc, ur (r) in th~~ ~,~•cnt that e~sc1~ an~l ~~t•er~• th~~ stipulations, agref~meiits, rot~dition,, ru~cl curen<ints ~>1 s<iici nutt~ .uicl this i11U!'t~.T,ake, ai•e ~iut ~iul~', I~run~~~tl~~, .;?icl f'~~lt~~ ~~e~•fc,~•mECI: t11e~1 ii~ ~~iti~~~r ur an~• ;urh ~~~•~~,it, ih~~ ,aici ag~;r~~~atE~ sum nu~ittlO11E(~ in s,ticl ?iutr thf~n r~~mait~ing unpaici, ~~•ith 1t1tE'1'E~st aeerued tu that timt~, ancl afl munc~~~s s~eureci herc~b~•, Sflc`~I~ I)~C(IRlE~ ciue ancl pa~•abl~~ fort?i~~~ith, ur ther~~~~t~tei~, at thc~ upti~~?~ ut' sairi m~~i•igagt=c~, as f~~l!~• <Znd c•omplet~~l~• as if :ill ai the said sums ~~t~ n~o~ie~~ ~~•c~~•t~ urg;»all`~ sti~>ul~~tcd to 1~~~ a~~ici ou such csa~~, aii~•ti~ing in saicl nute or in this m~~rtgage to thE~ contra~•}• not~~-itl~stancling ; ancl th~~r~~u~xn~ c~r th~~rea~ter, at the option of saici mort~ag~~e, «~ithout notic~~ oi~ ciemand. ,uit at la~~- at• i~i E~c~uit~•, ma}~ I~t pl•usE~c•~itc=ci as if ati munc~ti•s seeut•c~c? hercb}- h;~d mattit•c~ci prioZ• to its i~~sti- tutiui~. The~ mo~•tga~~~c• nia~• fe~rr~el~»e~ ti~is mo2~tgagt~, <~s t~~ the amount su cl~~c•lared ciue an~l pa~•able, anci tht~ ~~~i~l prc~~ni~c~~ .hall h~~ ~nlcl t~~ sxtisf~• anci pa~• thc~ same togeth~~r ~~•ith costs. e~~~e~nses, and ailo~ranres. Iti case of ~~artiai t~~~•erl~~sur~~ of this murtgage, thc> mr~rt~~g~~~l premises shall b~ sc~[~i subject to tile coti- linu~ng lien c~f tliis moi~tga~;~~ fur thr am~~ti?~t of the ~iebt n~t th~r c~~t~~ anrl i~r~~~ai~l. lii sunc ~ase the pz•~~- ~~i~ions of this par<~gra~~}i mai• a~.Tain be a~~aile~cl of th±~i•c~<?fter from tin~e t~~ tim~~ b~~ the m~~rt~agee. 10. 'I'fi~it t~i~ it~ort~,ra~ur ~~~;1! ~i~•e immc~liat~ nutice 1~}~ m~ii! t~~ thE~ m:~?•t~.ikc~c ~~f an~~ con~~c~~~aTirf~. t~•.~nsfe?•; oi• chati~e ~~f z~~~~iie~~shiT~ of thc~ prt~mist~s. 11. Th~tt n~> ~ti~~~i~~er uf ,iny~ c~n•et~ant 4ierein or of tl~e ~~1~Ii~ltiori secured herei~}~ shal! at an~• t.ime the~~eaftei• k,e helcl t~~ ~~e a~~~~?i~~er uI the tei•?~~s }let~euf oi• of the n~>te secui•eci iieret~~•. 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, ilteit the mortgagee ma3° ~~erform fhe same, and aii expenditures (including reasonable attor- ne~•'s iees} macle by the mc~rtgagee ire so doing shall draw• interest at the rate set forth in the note secured herel,y, and shall be repa~•~~ble immediatelr~ and ~~~ithcut demand by the mor±gagor to the mortgagee, and, together with interest ar,d costs accruing ttiereL~n, sh<ill i~e setured b5 this mortgaga. 13. That the mailing of ~ w~ritten notice ~r demarid addressed to the ~wner of record of the mortgaged premi,es, ur dire:.tea tc~ the said o«ner at the last ac?dre~~ actuall~~ furnished to the mortgagee, or directed to s~iid ~«~ner ~st said mur•tgagec~ premis~s, and m~3iled l~y the Uiiit~d States maiis, shall be suf~icient noti~e a~~d den~and in any cas~ ai•isinfi under tliis instrument and required b~- the pro~•isions hereof or i~y law. 1-~. Th~ mortgagor eo~'enanis and agrees that so long as this mortgage an~i the said note seci~~red iterel~y are insut•ed under the pru~~isions of the'~ational IIousing Act, he w~ili nof esectite ~r fite foi• rec+~i•ci ar~~ instrunlent which im~~oses a restriction u~x,n the ~~sle or ocrupancy of tne nzortgaged ~7i•opert~~ on the ~~asis ~f t•ace, c~>lor, or ereecl. U~~on any~ ~~iulation of this undert~king, tt~e mortgagee ITl~I~~, at its ()j)tI0I1, ci~~lare the un~r;icl haiancc~ of the ciei>t securecl hHrel;y imrnediately due and pa~•able. fp € t ~ ~Y~n F 6 i ~