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Home My WebLink About0844 fines, or impositions, for w•hich pro~~ision has not been madc hereinbefore, and in default thereof the mc~i•t- gagee may pay the same; and that he N~ill promptly deliver the of~icial receipts therefor to the mortgagee. 5. That he will permit, commit, or suffer no waste, impairment, or deterioration of said propert~• or any part thereof; and in the e~~ent of ~he faiture of the mortgagor to keep the buildings on said premises at~d those to be erected on said premises, or improvements thereon, in good repair, the mortgagee ma~• make such repairs a.s in its discretion it may deem necessary for the pruper preservation th~reof, and the full amount of eact~ and every such payment shall Ine immeciiately due and payable, and shail ~e sccured by the lien of this mortgage. 6. That he w~ill pay all and singular the costs, charges, and expenses, including reasonable la~~•~~er'~ fees, and costs of abstracts of title, incurred or paid at any time by Lhe mortgagee because of the failu?•e on the part of the mc,rtgagor promptly and fully to perform the agreements and co~~enants of said prom- iss~ry note and this mortgage, and said costs, charges, and expenses shall be immediately due and pa5•- able and shall be secured by the lien of this mortgage. 7. That he will keep the irnprovements now~ existing or hereafter erected on the mortgaged propert~•, insured as may be required from time to time by the mortgagee against loss by fire and other hazards, casualties, and eontingencies in such amaunts and for such periods as ma~• be required by mortgagee, and w~ill pay promptly, w•hen due, any premiums on such insurance for ~a~~ment of ~•hich pro~•isi~n has not been made hereinbefore. All insurance shal! be ~carried in companies approved by~ mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto loss pa~•able clauses in favor of and in form acceptable to the mortgagee. In event of loss he H•ill? gi~•e immediate notice by mail to mortgagee, and mortgagee may make proof of Ioss if not made promptt~• by mortgagor, and eaeh insurance company concerned is hereby atithorized and directed to make pa~•ment for such loss directly to mortgagee instead of to mort~agnr and mortgagee jointly, and t!ie insurance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration ar repair of the property damaged. In e~~ent of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in f~~rce shall pass to the purchaser or grantee. S. Tnat the mortgagee may, at any time pending a suit upon this mortgage, apply to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall fo?•th~~•ith appoint a receiver of the premises co~~ered hereby a11 and singular, inclu~ling all and singular the income, profits, issues, and revenues from x•hateti•er source derived, each and every of K•hich, it heing expressl~~ unde3•- stood, is hereby mortgaged as if specifically set forth and deseribed in the granting and habendum clauses hereaf, and such receiver shall have all the broad and effective functions and po~~•ers in an~•t.-ise entrusted by a court to a recei~~er, and such appoitttment shali t~ made by such court as an admitTed equity and a rr~atter of absolute right to said mortgagee, and without referen~e to the adequac~• or inad- ec~uacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor oi• the defendants, and that such rents, profits, income, issues, and revenues shall be applied k~y such recei~~er according to the lien of this mortgage and the practice of such coart. In the event of ar~y default on the part of the mortgagor h~reunder, the mortgagor agrees to pay to the mortgagee cn demand as a reason- able monthly rental for the premises an amount at least equivalent to one-twelfth (!',l) of the aggi•egate of the tw~elve monthly installments pa~•abie in the then current year plus the aciuat amount of the annual taxes ~ssessments, ~•ater rates, and insurance premiums for such year not coti~ered by the aforesaid mont~ly payments. 9. Th~zt (a) in thc e~~~nt of an~~ l~~•E~ach ~,f' this mu~•t~~ige ur ~1~•f~iult un th~~ par! ~~f ti~e moi•tgagoi', oi• 1 ii? the e~-rnt that <~n~' c~f ~aid sums of monet~ herein referred t~~ be not promptl~• ~nd fuil~~ paici ~~-ith- ~~ut c~~~man~l ui• nutic•~~, o?• ii~ tht~ r~~~ent that eac•i1 and t~~-er~~ the stipulaticros, ~l~,tl'E'E'RIC'I1CS, conditi~ns, ancl cu~~~~naiits oC s~ii~i iiutt~ ~in~i t}iis mc~?•tgag~~, are n~,t clz~1~~, t~rurn~~tl~~, ar~~l full~• perfoi•mecl: t}ieti iti ~•iih~~r u!• <ii~~~ ;u~~f~ t~~t~~~t. th~~ ~ai~l a~;~i•~~g~itE~ ~um m~~iiti~~ned ii~ s~~i~! >>c~t~~ thc~il ?•~~maining unpaid, ~~~ith interc~st ~lcerut~d t~> t}lai timt•, aiul ~11 mci?iE~~'` set~u~'c~cl itE~reb~~, shall ixrume clue ancl pa~•able forth~~~ith, ur iher~~aitt~r, at thE~ u}~tiun uf s<3icl mn?•tgagee, as full~• and compl~~tr~lr as if all uf thc~ said sums of mone~• ~~i•r o?•kinail~• s[i~~uiateci to i~e ~~aicl oi~ such cla~•, a?i~•t}zictg i?i saic] »ute oi• i~i this mo~•tgage to the cont~•a?•~• ~iot~~~it}?str~n~ling; antl th~~i•E~uptm or ti~c~~•~~afte?•, at the option ot' ~ai~l mo~~tgagee, ~~~ithout notice o?~ clema~id, ~uit at !a~~~ or iii ~~quit}•, cna}~ ~e pi•osecuteci as ii ail mun~~~~s sectire~i he?•E~b~• had maturecl pi•ioi• to its insti- ic~tic~n. The ma~•t~,*<tgf~c, ma~• fo~•eel~~,e t(;is mortga~e, as to the amount so ~terlared clue an~i pa~•able, anc~ th~~ saici {~rc~mise~; sl~all be~ solcl to ~atisft• ar~d ~~a~- ttit~ same togethe~• n•ith eosts, e~+i~enses, anci allc~~~~anees. I~i casE~ of partial f'c~rf~closiu•c~ of this mortgagc~, the mortgagccl premises shall be ~~lcl subject to the con- tll1L1111~, ~il'It (it t~ll~ I1101't~!flf,rf' fOi' t11C iltlltlllllt Of t}1(' ~~l'1)t 11U~ t}lfll (~ilE' aiul u~ipaici. In such case the pra- ~~isiat~s of this pa?•agraph mas• again be a~•aileci of tii~~i•e~~fter frum tirne t~~ time b~~ the mortgagee. 10. That ti<<~ m~,i•t~~?g„~• ~~~iil gi~~c~ immeciiate noticc~ h~• rnail t~~ tE~e~ meri•tga~e~~ c~f ari}• cor~ti~e~~anec~, trat»sfc~r, or changc> ~,f ui~~tit~t•ship of tht~ premises. 11. Th~it nu «~<ii~•t~r ~~f .irf~• r~~~~cn,~nt }ic~l~eirl ui• uf t1z~ o}~ligatior~ secu~•e,~l herei~~~ shall at an~~ time ther~~~~~ftet• t~e held tv l~e z~ ti+~aiiti~er uf the terms herec,f or of the n~,te secured hereh~•. 12. That if the mortgagor default in any of the covenanfts or agreements contained herein, or in sai~} note, then the mortgagee may ~erform the same, and all expenditures (including reasonable attor- ne~''s fees) rnade by the moi•tgagee ?n so doing shall dr~~w interest at the rate set forth in the note secured herei~y, and shall t~e reparable immedia±ely and w-ithoi2t demand by the mortgagor to the mortg~.gee, and, together with interest and costs accruing thereon, shall l~e secured by this mortgage. 13. That the mailing of a written notice or demand zddressed to the owner of record of the mortgaged prerz2ises, or directed to tht said o«~ner at the last adc~re~s actually furnished to the mortg~gee, or directed € to said oK~ner at s~id mortgaged premises, and mailed i~y the tlnited States mails, shali be sufficient notice E and demand in any- case arising under this instrument anci rec~uired by the pro~~isions hereof or b~~ law. ~ 1~~. The mortgagor cu~•enants and agrees that so long as this mortgage and the said note secured hereby are in5ui•ed urici~r the pro~•isions of the :vational IIousing Act, he will not execute or file far i-ecord anr instrument. µ~tiich iniposes a retitriction upon the sale or occupancy of tne mortgaged pr•opert~~ on the ~)~SIS Uf Pf1Ce, Ct1~t11', or creed. Upon any' VlO~ation ot this uncieriai;ing, ~Ite iT1uYl~~`~~ee ciia;y, ni it~ ~~f~!;t:.~, deciare the unpaici }~alar~re af the debt secureci here}~y imme~iately due a.nd payable. ; . s~RK 119 24~ ~