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Home My WebLink About1489 . , y.•' fines, or irnpositiuns, for w•hich pro~•ision has not been made hereinbefore,.anci in c~efault therE~f the m~~rt- gagee may pay the same; and that he w•ill promptly deliver the official receipts therefor to the mortgagee. 5. That he will permit, commit, or suffer no waste, impairment, or deterioration of said prope?•t~• or any parL thereof; and in the event of the failure of the mortgagor to keep the buildii?gs on said p~•emis~s i and those to be erected on said premises, or improvements thereon, in good repair, the mortgagec may ' make such repairs as in its discretion it may deem necessary for the proper preservation thereof, and the , fult amount of ~ach and e~~ery such payment shall be immediately due and pa~•able, and shall be secure~ ; by the lien of this mortgage. ~ 6. That he w~ill pay all and singular the costs, charges, and expenses, including reasonable la~~•~~er's ; feea, and costs of abstracts of title, incurred or paid at any time by~ the mortgagee because of the failure an the part of the mortAagor promptly and fully to perform the agreements and corena?~ts of said prom- ` issory note and this mortgage, and said costs, charges, and expenses shall be immediatel~• due and pa~~- ; able and shall be secured by the lien of this mortgage. ~ That he will keep the impravements 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 hazarcls, ~ casualties, and contingencies in such amounts and for such periods as ma~~ be required by mortgagee, ; and wil[ pay promptly, when due, any premiums on such insurance for pa>•ment of ~+•hich pro~•isi~~n has not been made hereinbefore. All insurance shall be carried in companies appro~•ed by mortgagt~e and ; the policies and renew•als thereof shall be held by mortgagee and ha~~e attached thereto loss pa~~ab(e clauses in favor of and 'an form acceptabie to the mortgagee. ln e~•ent of loss he «•it1 giti•e immediate notice by mail to mot•tgagee, and rrtortgagee ntay make proof of loss if not made promptl~• by murtgagor, and each insurance company concerned is hereby authorized and directed to rnake pay~ment fa~• such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, anci the ir?surance procee~s, or any part thereof, may be appiied by mortgagee at its option either to the reduction of the indebtc~d?iess ~ hereby secured or to the restoration or repair of the property damaged. ln event of foreclosui•e of this mortgage or other transfer of title to the mortgaged property in e~ctinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to anS~ itisuratice po!icies then in force shall pass to the purchaser or grantee. - 8. That the mortgagee may, at any time pending a suit upon this mortgage, applt• to xhe court ha~~- ing jurisdiction thereof f~r the appointment of a receiver, and such coui•t shall foi•th~~ith appoint a receiver of the premises co~ered hereby all and singular, including all and si~ngular the income, profits, issues, and revenues from whate~~er source derived, each and e~~er~• of ~•hich, it being expressl~• under- stood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clai~ses hereof, and such receiver shatl have all the broad and effectiti•e functions and po~~~ers in an~•«-ise entrusted br a court to a recei~•er, and such appointment shall be made by such cot~rt as an admitted equity and a matter of absolute right to said mortgagee, and w•ithout reference to the adequac~~ or inad- equacy of the value of the property mortgaged or to the sol~•ency or insol~•enc~~ of said mortgagor or the defendants, and that such rents, profits, incorne, issues, and revenues shall be appiied b~~ such recei~•er according to the lien of this mortgage and th~ practice of such court. In the e~•ent of any defauit on the part of the mortgagor hereunder, th~ mortgagor agrees to pay to the mortgagee c~ demand as a reason- able monthly rental for the premises ~n amount at least equivalent to one-tµ•elfth ( of the aggregate of the tµ•elve monthly installments payable in the then current year pius the actual amount of the annual tautes assessments, w•ater rates, and insurance premiums for such year not co~•ered bS• the aforesaid mont~ly ~ayments. 9. That (a) i» thti~ t•~t~nt ~~f ~tn~~ ur~•~il'Il UI tI11S 111U1'tf;~?gr ur ~l~~l'alilt ur, ihc part (lI tllE' mortgagor, c.~r i 1, ) in the e~-ent th<tt ~t~i~~ ~~f s~tici sum, uf munc~t~ lic~r~~in referr~>d to be ric,t pr~~m~~tt~• anci full~~ paicl :1~ith- uiiC (~t't7i~tll(~ O}' 21(~t1Cl', O1' I11 ~}lt' E'~'Cllt t}121t E'8C~1 c'~R(~ ('~'t'1'\' ttll' Stl))ll~iitl~)115, i~~l'El'ME'i1t.5, COII(~1t10I1S, ~lll(~ Cc)\'E'IlililtS Ut F~il(~ !Yl)tl~ <iF](~ t~11S hlC)1't~'~iQ;f', ~il't' Ill)t (~U11', ~)CUlll})~l~', 2111(1 full~• p~~i•fot•mecl; ~~iCil lil e•l~~lt'1' (il' R11\' tiIIC{1 t'\'t'llt, I~lt' tiS11~ 2ijs};Pt'~;21t1' SURI Illt'lltlOIlE(~ 111 S~tl(~ 11Uf1' f~ll'll 1'~'lll~ilillilg U11}11l(~, lt'Itfi intei•esf accruc~d tu that tiri~e, a~ici ali r~i~~rlE~rs serure~l hereb~~, sliall l~ecome due an~~ pati~able foi•th~~~ith. ~~r thet•t~.i!'tt~~•, at t12E~ o~~tiuii ~,f sai~l ms,rtgag~~f~, ~;S fUI~\' R11(~ CUriI)lIl't~~l~~ ~ts if all ~~f th~~ said sun~s of mc~ne~~ ~ ~~~~~~~e ur~;inall~~ stipul~~ted to 1~~~ ~~aicl un such cla~•, an~•thing in saicl nute or in this mortgage to the cu»trar~~ nut~~~ithstanc~ing :~incl thc~?~c~u~~i,n ur tt~ereafter, at thE~ c~ptio~i of said mo~•tgag~e, «•ithout riotice or deman~i, ~ ,i~it at ia~~~ ur i~i ec~tiit~-, ma~~ t~e ~~i•~~se~c•utecl as if all rnuni~~-s seeit~•ed her~U~• I~acl matt>>•eci prior to its insti- tutioa~. The moi•tga~;t~~~ mati~ fo~•t~cl;~;e this mortg~igF~, il5 tU t~1C am~~unt so ~lEClared cluc~ and pa~~able, atici ' tht• saicl prcmisr~ sh~ill b~~ sui;l t~~ satisf~~ a»d pa~~ the same togethc~r ~~~ith c~sts, exT~c•nsf~s, anci allo~~~ances. E ln c~ase of p~tt'tial f~~i•E~c•lostt~•c~ ~>f this moi•fgage, the morig~gecl i3rc~?nisc~s sl7all bc~ sc~ld ~ubjec•t tu ihe ~on- ~ linui?ig lien ~~f tl~is ~~u~rt~age fc~r thc• am<n~?~t of t}3e <lebt »ut 1hE~~i rlue an~l tu~pairl. In suc•h case the pt•o- ~~isions of this p~r~graph n~a~• aKain be a~•aifecl c~f th~i•~~after fd•om t~mr te~ time b~~ tht mortgagee. 10. That thE~ m~,rtg~1Q,'<~1' ~~•lII };1S'E~ immectiate ~~otiee b~~ mail tu tht~ m~~rtga~e~~ ~:f an}- c~+>n~~c~~~a?tcf~. ~ trxnsfer. c,r chanKti~ ui c~~~~ne?•shi}~ of~ thr pr~~mises. i f 11. That no ~~~ai~:er ~~f ari~• c~~~~c~nant lierein ~~i• of tilE ul~ligation sc~c•~u•c~ci hereh}• shall at ai~~~ timE~ tliereaftet• be hc~td tu ~~e x~ti~ai~~er of the terms he?~ec,f or c~f tf~e n~,te sE:rui•~ej i~ei•el>~•. ~ I2. That if the ntortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may- ~;erform the same, and all expenditures (including reasonable attor- net•'S fees) made by the mortgagee in su doing shall drav~- interest. at the rate set forth in the note secured herel~~•, and shall be repati•able immediately and «•ithout demand b5• the mort.gagor to the mortgagee, and, together with interest and costs accruing thereon, shall be secured by this mortgage. 13. That the rnai(ing c~f a~•i•itten notice or demand a~idressed to the owner of record of the mortgagec~ pyemi;es, ur directed to the said o~ti~ner at the last addre>s actual~~~ furnished to the mortgagee, or directed to ~aid oH~ner at said mortgaged premises, and m~~ileci by the United States mails, shall be s~tFicient notice and demand in any case arising unc~er this instrument and required by the pro~~isinns hereof or by law. 14. The rnortgagor co~•enants and agrees that su lung as this murtgage and the said note secured hereby are insui~ed under the pro~•isions of the :`ational fIc>using Act, he u•ii! not execute or file for i•e~c>rd an~~ instrument which imposes a restriction ta~fon the sale ~r occupanc~~ of tne mortgaged ~~ropert~~ on the bt7sis of ~•ace, color, or creed. Upon any~ ~~iolation of this un~ertaking, the mortgagee may, at it~ ~~ption, de~°i<ire the unp~ic~ t~alxnce of the deht securetl heret>y immediatel~~ due and pat•able. BODK