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Home My WebLink About1421 ~ . . fines, or iinpositir~iis, fur ~~•hi~•h prut~ision has ~iot bt~en made ttereinbef~~re, xt~~1 in ilefault ther~~uf tl~c• m~~rt- gagee may pay the sante; and that he w•ill prurnptly deli~~er the of~icia! receipts tt~erefa~• tu thc n:urtKx~ee. That he w~ill ~ermit, cummit, or suffc~r no K~aste, impairment, or deterioration uf said prupr.rt~~ ur any part thereof ; and in the e~•ent of the failure af the mortgagor to keep the buildii~g~ on s~~ici ~~rrn~ises and those to be erected on said premises, ur itnpro~•entents thereon, in g~d repair, the mortgx~~~e ma~• make such reXyairs as in its discretion it ma~~ deem necessary for the pi•oper preser~~aUutl illel'c~~~1, a»~i tt~e full amount of each and e~~ery such payment shall b~ immediatel5• due an~i pa~~able, and shall tse srrured by the lien of this mortgage. 6. T}~at he will pa~~ al) and singular the costs, charges, and ~Xp2t15~S, ll1CIU(3t11g' 1'E'il50flS~It' la~~•}•er's fees, and costs of abstracts c,f title, incurred or paid at any time by~ the mortgagee becausz ut' the failure on the part of the murtgag~>r promptl~~ and full~~ to perform the agreements and co~•~~nants of sai~i prum- issory note and this mortgage, and said costs, charges, and exp~iises sfiall be imme~iiately due and pa~•- able and shall be secured by the lien of this mortgage. That he w~ill keep the improvements now~ eristing or hereafter erected on the moi•tgagecl propertti~, insured a~s may be required from time to time by~ the mortgagee against loss b~• fire and other hazards, casualties, and contingencies in such amounts and for sui•h periods as ma~• be rec~uired by~ mortgagee, and will pay~ prompUy, w•hen due, any premiums on such insurance for pa~~n~ent of ~~•hich pro~~isiun has not been made herPinbc.~fore. :~11 insurance shall be carried in companies appr~~~•ed b~• mortg~ig~~e ~il(I the policies and rene~•aIs thereof shall be held by mortgagee and ha~~e attached t}iec~eto loss pa~•ak~le clauses in fa~~or of and in form acceptable to the mortgagee. In e~•ent of loss he «•iil gi~•e immediate notice by~ mail to mortgagee, and mortgagee n~a~• make proof of l~ss if r~ot made pi•ompti~• by mai•tKa~oi•, and each insurance compan}~ co~rcerneci is hereby authorized and directeci to make payment for• such loas directly to mortgagee instead of to mortgagor ai~d mortgagee jointl~•, an~i the lI1SU1'3I1CC ~11'OCtl'(IS, oi• any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtrdness hereby secured or to the restoration or repair of the propert~~ damaged. lii e~~ent of foreclosure r~f ttiis mortgage or other transfer of title to the mortgaged property ~n extinguishm~~nt of the indebtedness secured hereby, alt right, titie, and interest of the mortgagor in and to aii~• it~sui•ance policies then in foi•ce shall pass to the purchaser or grantee. 8. That the niortgagee may, at an~• tin~e pending a suit upon this mortgage, appl~~ to the court ha~~- ing jurisdiction thereof for the appointment of a recei~•er, and such court shall fc~rth~~•Sth app~int a recei~~er of the premises co~•ered hereb~• all and singular, including alt and singular the income, pt•otits, issues, and revenues from w•hate~•er saurce derived, each and e~•er~~ of ~i•hich, it being expressl}' under- stood, is hereby mortgaged as if specificall~• set forth and described in the grantin~ and haUendum clauses hereof, and such receiver shall hati•e al! the broad and effecti~•e functions and po~~•ers in an~•~~•ise entrusted by a court to a recei~•er, and such appointrnent shall bP made b~~ such coiirt as an aclmitteci equity and a niatter of absolute right to said mortgagee, and ti~ithout reference ta the adequac}• ur inacl- equaey- of the ~~alue of the propert~• mortgaged or to the sol~•ency~ or insol~~eneti c~f saic~ mortgagoi• oi• the defendants, and that such rents, profits, income, issues, and re~~enues shall ~e applied b}~ such r~~cei~~e?• according to the lien of this mortgage and the practice of such court. In the e~•ent of an~• c~efault on the part of the mortgagor hereun~er, the mortgagor agrees to pay to the mortgagee c~ demand as a reason- able monthlt~ rental for the pre?nises an amount at ieast equivalent to one-t«~elfth (!i.,) of the aggi~egate of the twel~•e monthl}• installments payable in the then current year plus the actual aniount of the aniiual taxes assessments, ~~~ater rates, and insurance premiums for such ~•ear not co~•erec; b~~ the afo: esaid mont~ly payments. 9. That (u } in tlit• .~;~~~nt r~t ar~} l~rt~acli v!~ this r7lurt},rt~~e ur ~1c~C<<ult ~~u th~~ }~au~t ~~1 tiiE~ r~~ortga~ur, ur 1 l,) i~i the~ e~~~~i~t tli.~t ai~~ ut ~~ticl sums uf' m~~n~y~ hrrcin referr~~cl t~~ bt~ nut ~>i•~~?n~~tl~• and itill~• paicl ~~~ith- ~~ut c1~']11R11~~ ur uutic~~. u~• It•) ii~ tht~ c~~'rnt that ~~~irl~ anci ~~~~t~r}~ iht~ sti~~ulatiuns, a~'rc~t~m.~nts, co~u~itiun~. ~uut cu~~r?~~,nts ~~1' ~ui~l tt~~te ~~n~l this mu~~tKa~;~~, art~ uut <lulc', I~~~um~~tlt-. a~ut fizll}~ ~~e~~•fo~•merl; then in c~t[ElC`1' Ul' illl~' Sl(C~i ~•\'t`tlt. (Elt' ~til~~ .t}_,'}.{1't~~,r.it!' ~Ulli !]l~~lltl(~71t'(1 111 a.llt~ llnt~' t~lt~ll !'~'lllillillll~ Ull~)7.U(~, \1'It}1 intt~rest <iccru~~~l tu that ti~~~~~, a>>~i <<11 ?nui~r~~~, s~~ciu•ed h~~r~~b}•, sha11 V~E~~untt~ clu~~ an~i pa~~able fc>rth~~ ith. ur thE~r~~aftr~~~. <it tliE~ u~~ti~n~ ui ~a;~l ?»~>rt~;agc~~. as ftill~~ tufci c~~mpli~t~~l~- as il~ all ~,f tiit~ sairi st~ms of ?t~ont~~- ~~,~~~re ~~i•~*in~~!1~~ ,ti~~ttlat~~d tu i>c p~ri~l n~i suc~h ~~a~~, ~ii~}~thing it~ s~?i~i nute ~,t• it~ this r~inrtg~tgc~ t~~ thr c~~?~Cra~~~~ i~i~t~~•~thstan~lin~; ~~n<1 t~i~~r~~u~,~_,t~ ur thf~rcaf:~~r, at tl~~~ optit~n c~t' sai~l m~n•t~;agE~~~. ~~~iih~~ut notice or ~ic~mand, suit at ia~~- ur in ~~~~uit~~, ma~~ V~e pr~~sf~cu~E~;i as if all nun~~~~~s secure~i i~~~~•eb}~ i~a<1 niaturE~~i ~n~ior to its insfi- ti~tic»i. Th~~ rnortk~a~rt~f~ tna~~ f~~r~~~ciu::c~ iiiis mortgr~ge~, to the am~~t~nt su ~it~ci~;rz~ct ctu<< a?ic1 pat~able, tin<1 th~~ sai~l prc~rni;~~~ sh~111 i~r s~~i~i t~, s~~ti,f~~ anri ~~a~~ tht~ sarnc~ to~etli~~?• ~+-i2h c~~sts, t~z~>f~n~t~~, at~d all~~~~•ancE~s. In c~tsc~ <~f ,~at~tial f~,t~t~cl~,.t~r~~ uf ihi, ;no~•t~ag~~. the mrn•t~agt~~l prrmis~~s s}~a~i t~t~ sold subjert tu t}le c~,~i- tinuinK lien ~ef this m~~rt~a~;e• f~~r thc ~in~uurit uf ihr ~if~bt n~~t iht~n <lue an~! u:~pai<l. In s~2cf~ cast~ tht~ pro- ~~isioiis of this p~~ra~,rrapii n~~~~~• a~,rain be a~~aile~l ~~f th~~reaffei• i~rum tirl~e tu timc~ b~~ thc~ rn~~rt~a~e~~. 10. '~}iat th~• m~~i~tf:a~ui~ ~~~ill ki~~f~ immf~~firtt~~ »„tire~ maii t~~ tliE~ rnut•t~;~a~~>t~ r,f ~irt~~ e~>n~~r~~~an~•~~. ll'<1115tt1', U1' C~l~lll~!t! U( ~!\~'lit'i'ti~ll~) ii~ fEiE' ~)1't'ii11St'ti. ll. That nu ~~~~~i~~er „t~ <ili~~ c~~~~t~n.it~t h~~rein <<r nf ti~e ~~1~ligsiti~~r~ ;t~c•ttt~t~ci ht~re}~~• tila.all ~it ~int• tin~~k~ thereafter be lield tu Ix~ a~c,?i~-er ~,f t}le ter•?i~s l~ere~,f ur ~~f the n~,tE~ ~ecure~i }lei~el~y. I~. That if the rtiortg<~gar default iri any' of the co~'en~tnts or agreements contained herein, or in said ne>te, then the n;e,rtgagee ma~• ~erfc~rm the same, and all expenditures (includin~ reasc~nable attor- ne.'s fees) made b~• the mrn•tgagee in so doing shall cira~~~ interest at the rate set forth iti the note seeured }~erel~~', ancl shali be repra~•able immediatel~• and «~ithc~ut demand bt• the mortgagor to the mortgagee, and, iogetiier with interest and costs ~ecruing theret,n, shall }~e .ecured by this mortgage. 13. That the mailing c~f a~d~ritten notice or demand acl~l?•essed t~ the owner of record of the mortgaged ! pre~r~~ises, ur clirected t~r t}ie said c,~~~ner at tt;e last adc~re<s artuall~• furni5hed to the mortga~ee, or directed io ~aici o«~ner a` sai~l murt~,*a~ecl ~~remise:, anci maileri l~~- the LTIi~~'(~ ~~Rtt'S 1T1llil~, sh<itl be su~tieient ro~iee and demand in an5~ case ~irising under fhis instcument anc~ reyuired by the pre~~isions hereof or bt~ law•. 1~1, TI~P mort~agor co~•enants and agrees that so tong ~~.5 tiiis murtga~e and the said note secured 4lerei~~~ are insured under the pro~•isiuns <>f tf~e ~<itiunal Iit>usin~ Act, he ~~~ill n~.,t execute or file for ~~?c~.~rd an~~ instrur.~ent. w~hich imp~~ses a restriction upon the ~ale or occupanc~' of tne mortg<~~e~i p.~~,~~ert~• on the ha~is vf i•ace, c<~ior•, or creed. U~~~~n an~~ ~•ioi~iti~,n of this undertaking, the me~rt~agee may, at its ~~pti~>n, decltire the unpai~i hr?lance of the deht ~erured herc>hy imn~edi~~tei}• due anc~ ~~~iy<<tale. ~ ~ ~ r P ~ 2:~~.~ ~ ~ E ~ ~