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Home My WebLink About0438 .-t~• ~ fines, or impositwns, fur H•hich pro~'iswn has not be~n maue hereinbeY~,rr~, an~i ui ~fef~ult therE~uf th~• m~~rt- ' gagee may pay the same; anc~ that he will prornptly cieliver the official receipts therefor to the murtgagee. I 5. That he will permit, cemmit, ur suffer no waste, impairment, or deterioration of said propert~• or ~ any ~art thereof; and in the e~~ent of the failure of the mortgagor to keep the buildings on said pren~ises ~ and those to be erected on said premises, or impro~~ements thereon, in good repair, the mortgagee ma~• make such repairs as in its discretion it may deem necessary for the proper preservation thereof, ai~d the full amount of eaeh and every such payment shall be immediately due and payable, and shall be securecl by the lien of this mortgage, ~ • 6. That he will pay ali and singular the cc~sts, charges, and expenses, including reasanable ]a~+•t•er's ~ fees, and costs of abstracts of title, incurred or paid at any time by the mortgagee because of the failut•e ~ on the part of the mortgagor promptly and fully to perform the agreements and co~•enants of said prum- ~ issary note and this mortgage, and said costs, charges, and expenses shall be irnmediately due and pay- ; able and shall be secured by the lien of this mortga,ge. ~ 7. That he will keep the improvements now existing or hereafter erecte~d on the mortgaged propert~•, ~ insured as may be required frorr~ time to time by the mortgagee against loss by fire and ather hazards, ~ casualties, and eontingencies in such amounts and for such periods as may be required by mortgagee, and will pay promptly, when due, any premi~ms on such insurance for pa~•n~ent of ~~hich pra~•ision has ~ not been made hereinbefore. Ail insurance shall be carried in companies appro~•ed by mortgagee and the policies and renew~als thereof shall be held by mortgagee and ha~•e attached thereto loss pa~•able clauses in favor of and in form acceptable to the mortgagee. In e~~ent of loss he ~~•ill gi~•e immediate notice by mail to mortgagee. and mortgagee may~ make proof of loss if not made promptl~• by moi•tgaRor, and each insurance company concerned is hereby authorized and directed to make pa~•ment foi• such losa directly to mortgagee instead of to mortgagor and mortgagee jointl~~, and the insurance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the ind~~btedness hereby secured or to the restoration or repair of the property damaged. In e~•ent of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishmfrnt of the indebtedness secured hereby. all right, title, and interest of the mortgagor in and to any insul•ance policies then in force , shall pass to ~he purchaser or grantee. I S. That the mortgagee may, at any time pending a suit upon this mortgage, appl~• to the court ha~~- ~ ing jurisdiction thereof for the appointment of a receiver, and such court shall foi•thu•ith appoint a receiver of the premises covered hereby all and singular, including all and singular the income, profits, issues, and re~~enues from whatever source deriv~d, each and e~•ery~ of which, it being expressly under- stood, is hereby mortgaged a,s if specifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effecti~~e functions a~id po~+•ers in an~•~s•ise ~ entrusted by a court to a recei~•er, anc3 such appointment shall be made by such court as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequac~• oi• inaci- equacy af th.e valuP of the property mortgaged or to the solvency or insol~•enc~~ of saizl mortgagor or the ; defendants, and that such rents, profits, income, issues, and revenues shall be applied by such recei~•er ~ according to the lien of this mortgage and the practice of such court. In the e~•ent of an5~ default on the , part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee c~ demand as a reason- abie monthly rental for the premises an amount at least equivalent to one-t«•elfth of the aggr•egate f of the twelve monthly installments pa~•able in the then current year pius the actual amount of the annual , taxes assessments, ~~ater rates, and insurance premiums for such year not co~~ered by the aforesaid montfily payments. 9. That (c~) iri tlit~ E~~•~~nt uf att~• l~rc~ach ~if this n~urtgag~~ ~~r ~1~•f~tult c~~; tlu~ part c~f tlu~ mortgagor, c~r t!,) iii th.~ e~~e~it that ai~~• uf saici sums uf monr~~ ht~r~~in re~e~ri~ed tc~ be not pi•~nnptl~• anc~ full~~ paid ~ritt~- ' uut cl~~m~;ncl or uuticf~, ur in th~~ ~~~~ent that f~ach ancl e~~er}• the stipulatiems, agre~=nients, eonciitions, k .incl c~~~~~n~uits t~t s~ticl nutE~ st»cl ti~is mc>rtgri~;E~, 211'E' n~~t cluit', I~rum~~tit~, ancl i~ull~~ pc~rforrt~e~i: tllE?11 ii~ c•iti:er ur an~ ,ucl~ ~~~~~~nt, tl~~~ sai~i ~i~*gr~~gat~' SURi m~~ntiunecl i~? s~~i~l i~utr tlit~n remait~ing ~ulpaid, ~~-itti iiltc>rest arcrtie~l to that time, an~l all m~,nt~~~s s~~cin•e~l tia~i•eb~•, stiall f~~~cumE ~I~te an~i pz~~•ablE~ foi•th~~•itil, ur t!?t~rf~aCtt~r, .~t tiz~~ ulitiun uf sai~l mort~;age~~, s~s full~~ ~~nci cum~;l~t~~l~~ as it ~ill ~~f tL•~~ saicl sums of ine~ne~~ «~~~re ut•ginail~~ stil~ul<3tecl tu i~e ~~~ii~i un such ciat~, a~i~~ttiitig ii~ saicl ne~te ui• i~i tliis m~i•tgage to the ce,nti•ai•~~ ~ ~~~~t~~~ithstanciii~g; ancl th~~r~~u~w» or thc~reafter, at th~~ c~~~tiui~ uf said mc~rtgagc~e, ~~~itltout nc~tice or ciemancl, k ~ust at la~~- ur• in ~~quit~•, ma~~ l~e pros~~cuteci as if all muu~~~-s scctu•c~~i liere}>>• had maturecl prioi• to its insii- f tution. The~ i7101't4,r<l~?E'r ma~~ fm•~~rl~~se tizis moi•tg~~~~~, ~lS t0 tj1E' amount so clerlarc~d ciue ~~ncl pa~~able, a~ici ` thc~ s~ll(I ])1't'misc~~ ,hall bc~ solcl ti, ~atisf~• anci pa~• the same togethE~r ~~•ith costs, ~x~~~~nsc~s, an~i allou~ances. li~ cascr of' E~~i~•ti~l t~~rt~clc~~ur~~ ~~f this mortgage, ti?e mc~rt~age~l ~~r~~mises shall be sulci subject t~~ the :.o»- ti~iuin~ lit~n ~,f this mc~rt~a};~~ for the amaunt of the il~~bt ~iot ti~f~n ciur anci unPaicl. 1» such case the p~•u- ~ isiuns of this pai•~~gi~a}~ii cna}• xgain be a~~ailicl of titi~~?•eafte?• from time tc~ timc~ t~~• ti~e m~~i•tgaget~. 10. That the i~u>>~t~;a~,ru?• ~~~ill gi~~e immediate n~~tice b~- mail to th~' IllO1't~.,r:lt;f~E~ ~~f ar~~~ con~e;~ance~, t~•ansfei•, or rhang~~ uf u" n~~rship uf thr pr~~mises. ~ 11. 'I'hat n~~ ~sai~~~~~~ uf ~u~~' c~~~~'e~~?nt Ilerein ur of the ~~l~ligatio?~ sE~c~ure~ herel~~• ;hall at <in~~ tin;e t}le~~eaftei- k~e helci to I~e a~+~~ti~•er ~>f the tei-m~ ht~rec,f or of ti~e nc,te seeu?•ec~ tiei•el~~•. ` 12. That if the mortgagor defauit in any af the covenants or agreements contained herein, or in ~~id note, then the mortgagee may ~crform the same, and all e~penditures (incluciing reasonable attor- ne~•'s fees) made by t}18 IIlOi'tg<~gee in so doing shall drau~ interest at the rate set forth ir~ Lhe nc~te secured hereE~y, and shall be repa}•able immediatel~• and «~ithe~ut ciemand b~• the murtgagor to the mortgagee, and, ~ together with interest and casts accruing thereon, shall be secured by this mortgage. 13: That the mailin~ of a~~ritten noti.,e or demand addressed to the ow•ner of record of the tnortgaged ~ prenii~es, or dii•ect2d to the said o«•ner at the la>t acidrE~sS actuall~~ f~~rnished to thf~ mortg<igee, or directed to said o~ti~ner a± saic~ me~rtgaged pren:ises, and maile;l b~• the United States mails, shail be sufticienE notice and demand in any~ case arising unc~er tr~is instrument and rec~uired b~- the pro~~isions hereof or b3• law. 1~~. The mort~agc~r co~•enants and a~rees #ilat so long as this mortgage and the said note seci~re~# hereb~• are insui-ed tinder the pro~~isi~ns uf the Lational Itousin~ r~ct, he ~sill not execute or file for r•ec~~rd an~' II15tI'Lliilellt w~hich impuses a re~triction uE;on the sale or occupar~cy of tiie mort~aged property on the basis of z•ace, col~>r, or creed. U~~on ~~ny ~•i~_~lation of this undert~king, th~ mortgagee ~fi~ay, at its option, ciecl~ire the unp~?id iialance ~~f the c~el~t secured hereby immediatel~• due an~i pa~•able. ~~8 43S