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Home My WebLink About1249 ~ fines, or impositio~is, fur ~~~hich pru~•ision has not b~en made hereinbefore, anci in default ther~uf the murt- gagee may pay the same; and that he will promptly deliver the official receipts therefor to the mui•tgagee. 5. That he will permit, commit, ar suffer no waste, impairment, or deterioration of said propert~• or any part thereof; and in the event of the failure of ~he mortgagor to keep the buildings on saici ~~remises and those to be erected on said premises, or irnprovements thereon, in good repair, the moi~tga~c~r ma~• make such repairs as in its discretion it may deem necessary for the proper nreservation there~~f, at?d the full amount of each and every such payment shall b~ immediately due and payable, and shall Ue secured by the lien of this mortgage. 6. That he will pay all and singular the costs, charges, and expenses, including reasonable la~~•~~er's fees, and costs of abstracts of title, incurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly and fully to perform the agreements and co~~enants of said prum- issory note and this mortgage, and said costs, charges, and expenses shall be immediately due and pa~•- able and shall be secured by the lien of this mortgage. 7. That he will keep the improvements now existing or hereafter erected on the mortgaged propert~•, insured as may be required irom tinie to time by the mortgagee against loss b~~ fire and other haza?•ds, casualties, and contingencies in such amounts and for such periods as may be required by mot•tgagee, and w:ll pay promptly, w~hen due, any premiums on such insurance for pa~•ment of ~+•hich pro~•ision has not been made hereinbefore. All insurance shall be carried in companies appro~•ed b~• mortgagce and the policies and reneµ~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. ln event of ioss he ~~~il! gi~•e immeciiate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly b~• mortgagor, and each insurance compan~~ cuncerned is herekiy authorized and directed to make payment foi• such loss directly to mortgagee instead of to mortgagor and rnortgagee jointly, arici the insurance proceecis, or any part thereof, may be applied by mortgagee at its option either to the reciuction of the 1T1C~E'btrdness hereby secured or to the restoration or repair of the property damaged. In e`~ent of foreclosui•e of this mortgage or other transfer of title to the martgaged property in extinguishm«~nt of the indebte~iness secured hereby, all right, title, and interest of the mortgagor in and to an~• insurance policies then in force shall pass to the purchaser or gr~ntee. 8. That the mortgagee may, at any time pending a suit npon this mortgage, appl~~ to the court ha~~- ing jurisdiction thereof for the appointment of a receiver, and such court shall fr>rth~rith appoint a recei~~er of the premises covered hereby xl! and singular, including all and singular the income, protits, iasues, and revenues from wh~tever source derived, each and e~~ery of ~•hich, it being expressly under- stood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereaf, and such receiver shali have all the broad and effecti~•e funciions and ~ow•ers in an~•~~•ise entrusted by a court to a receiver, and such appointment shzll be made by such court as an admitted equity and a matter of absolute right to said mortgagee, and H•ithout reff~rence to the adequac~• or inad- equacy of the value of the property mortgaged or to the solvency ar insol~•enc~• of said mortgag~r or the defendants, and that such rents, profits, income, issues, and revenues shall be ap~~liec3 by such recei~•er according to the lien of this mortgage and the practice of such court. In the e~•ent of an~~ default o?~ the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee c~ demand as a reason- abte monthly rental for the premises an amount at least equivaient to one-t~~•elfth of the aggregate of the twelve monthly installments pay~able in the then current year plus the actual arnr~unt of the annual taxes assessments, ~~~ater rates, and insurance premiums for such year not co~•ered b~~ the aforesaid mont~ly payments. Tllilt (cr) it~ th~~ e~'~~nt uf an~~ i»~E~acii uf this mui•tg~tgc ~n• ~I~~ftltiil cm tlu~ part ~~f th~~ martgagor, w• 111 t~lt E'\'t'Ilt f~lilt ~1111' U~ Si~](1 Slii11S U(~ ItlU11E'1' ~lf'1'l'lIl Yl'fl'1'1'l'(~ t0 ~E' riOt ~1't)111~)tI~' iill(j flill~' ni~l(I \1'It}1- ~ ~~ut dc~ma~ui or uutic~~, ur i» thE~ e~•ent th~;t ~~aeh and e~~e?•~~ the stipt~latiuns, agre~~ments, co»ciition~, ~~n~i ru~~~~iants of ~aicl nut~~ anei this murtgage, are ii~>t clu1~', I~rumErtl~~, a~ul full~• perfc~rmt~c~; theti in E~Il~ll'1' Ui' ~lll\' SIiCII t'\'t'ilt, i~lt' Srll(j li~;~;l'l'K<ltl' tiUlll Itlt'11ftUlll'(~ lll 52U1~ ll(~tl' tlll'll Y~11111111U1~ UII~)ill(~, \1'Itfl 1I1~!'1'CSt ilCCl'llt'(~ tO t~lEiZ tlllll', 2i11(~ Fl~~ Il]Uill'~'S SE'CU1'E'(i flt'1'En~', Sf1R~~ ~l'C(~illt' (~UE' Ril(~ Oa~•able fui•t}i~~~~t~l, ~~r thc~rf~ai'tE~r, .~t tht~ o~~t~oii uf sai~i mortg~g~~e, as full~• <uid cumpl~~t~~l~~ as if all ur thc~ said sums r~f mone~• \1'r'YU t)1'~IIli~II\ .l'tl])ll~atcci to Ix~ ~~aid on s~~ch cla~~, RIl\'t}llll~' lll Slll(I !1(~Ce ur in tliis mc~rtgage tcz the c~~~?trar~~ iiot~~~ithstanclinK ; a~~cl ihrrt~ti~wii ~,i~ thE~i•eafte?•, at tlie ui~tion oi's~~icl moi•tgag~~e, ~~~ithuui ~totic~~ or ciema»ci, suit at la~~~ u~• iti e~~uit~~, ma~- k~e prc~sE~ctttecl as if all m~,»e~'s szcttred hereb~- had matur~~~i F~rir~r to it~ insti- tution. The moi•tg.igE~~~ ma~~ forecl~~se this mortgagc~, <<s tu the amo~mt sc~ cieclai•eci <liie anci aa~~able, ancl t}~t~ saicl premis~~~ sh~~il l~E~ ~ulc) tu satisf~• and pa~~ the ;ame together ~~~ith easts, txix•ns~~s, and nllo«~~nees. in case of ~~~trtial f+n•crlosure~ c~f this mort~;~;ge, the m~,z~t~;a~;t~cl ~;remis~~s shali bc~ sold SUtiJE~Ct tU tilE' cun- tii~t~in~ lien ~~f this ~n~~rt~ag~~ f~~~• thf~ am<~unt uf the ~lebt nut then citie an~l ~~npaid. In stich case the pro- ~~isions of this paragrap!~ rna~~ again be a~•ailer~i of the~~r~aftc~r f~•om time t~, tim~~ i~~~ th~~ mortgagee. 10. 'I'hat thz~ fitu?~tga~~~r «•ill gi~•c~ iinmc~cliate nf>tick~ bt- mail tn thc~ m~»~tga~;~~f~ ~~f an~- ec~n~~~~~ancc~. trai~st~e~•. U1' Clliil]~(C c~f ~;t~,-nership uf thc prt~mises. 11. That nc, ~~~~ii~~er c~f ilil~' C(~~'P11IiIlt Ilt'rein ui• uf the ul~li~ati~~r~ ~ecur~~ci herel>~~ sh~ill at an}~ tirrie tl:ereaftei• ~~e helci te~ ~~e ~~~ai~'er of the terms hei~ec,f or c~f the nute securecl hei•ei>~•. 12. Tt~at if ti~e mortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may ~erform the same, and all ex~zenditures (including reasonable attor- ne~•'ti fees) made b}• t'r?e mortgagee in so doing shal! draK• intere~t at the rate set fc~rth in the note secured h~reby, and shall be repa~~able immediatel~~ and «~ithout demand b~~ the mortgagor to the mortgagee, and, together with interest and costs accruing thereoi~, sh~tll be secured t}y this mortgage. 13. That the mailing of a H•ritten notice or demand addressed to the o~ti~nei• of record of the rnortgaged premi~es, ur directed to the said o~~~ner at the last addres5 actuall~~ furnished to the mortgagee, or c~irected to said o«~ner at said n~oc•tgaged ~~remises, and niailec~ h~• the United States nlails, sha11. be sufi~icient notice and demand in an~• case arising under this in~trument and rec~uired b5~ the pro~•isions hereof or by law. 1-~. The mortgagor co~~enants and agrees that so long ;ts this mortgage and the said note secured hereby are insureci under the pro~•isiuns of the \ational ~iuusin~ ~ct, he «~ill nc,t execute or tite for recc~rd an~• instrument w~hich imposes a restriction upon the sale or occupancy' of ti?e mortg~iged ~>roperty on the basis c~f race, color, or creed. Upon an~• ~•iolation of this underitdk:ng, the mortgagee ,na}~, at its optiun, derlare the unpaid ~>alance of the deht secured herei~y immediatel~• due and pa5~able. Du?'; ~~CJ _ ~ 1