The URL can be used to link to this page

Home My WebLink About1620 r. fines, or impositions, for which pro~~ision has not been made hereinbefore, and in default therE~f the murt- gagee rnay pay the same; and that hz wiil promptly deliver the official receipts therefor tc, the mortgagee. 5. Th~t he will permit, commit, or suffer no waste, impairment, or deterioration of said propert}• or any part thereof ; and in the event of the failure of the mortgagor to keep t},e buildings on said premises and those to be erected on said premises, or improvement3 thereon, in good repair, the mortgagee ma~• make such repairs as in its discretion it may deem necessary for the proper preservatiun thereaf, and the full amount of each and every such payment shall be immediately due and payable, and shall be secured by the lien of this mortgage. 6. That he will pay ail and singular the costs, charges, and expenses, including reasoiiable la~~•yer's fees, and costs of abstracts af title, incurred or paid at any time by the mortgagee beeause of the failure on the part of the mortgagor promptly and fully to perform the agreements and co~•enants of said prom- issory nate and this mortgage, and said costs, charges, and expenses shall be immediately due and pay- 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 from time to time by the mortgagee agaittst loss by~ fire and other hazarcis, casualties, and contingencies in sach amounts and for such periods as maS• be required by mortgzgee, and will pay promptly, when due, any premiums on such insurance for pa~•ment of ~+•hirh pro~~ision has not been made hereinbefore. All insurance shall be carried in companies appro~•ed b~~ mortgagE~e and the policies and rene~•als thereof shall be held by mortgagee and have attached thereto loss pa~•able clauses in fa~~or of and in form acceptable to the rnortgagee. In event of loss he ~~~ill gi~~e immediate notice by mait to mortgagee, and mortgagee may make proof of loss if not made promptl~• by mortgagor, and each insurance company concerned is hereby authorized and directed to make payment far such loss direetly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgagee at its option e~ther to the reduction of the indebtedness hereby secured or to the restoration or repair of the praperty damaged. ~n e~~ent of fc~reclosure of this mortgage or other transfer of title to the mortgaged property in extinguishm~nt of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to any insurance ~.~olicies then in force shall pass to the purchaser or grantee. 8. That the mortgagee may, at an~• time pending a suit upon this mortgage, appl~• to the court hati•- ing jurisdiction thereof for the appointment of a recei~~er, and such court shall forthw•ith appoint a receiver of the premises cavered hereby all and singular, including all and singular the income, profits, issues, and re~~enues from whate~~er source derived, each and e~~er~• of „•hich, ~t being expressly under- stood, is hereby mortgaged as if specifically set forth and described in the g?•antir.g and habendum clauses hereof, and such receiver shall have all the broad and effecti~•e functions and pa~°ers in an~•~~•ise entrusted b,r• a court to a receiver, and such appointment shall be made by~ such court as an admiYted equity~ and a matter of absulute right to said mortgagee, and w~ithout reference to the adequac}• or inad- equacy of the value of the property mortgaged or to the solvency or insol~'ency~ of said mortgagoi• oi• 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 any defauit on the part of the mortgagor hereunder, the mortgagor agrees to pay t~ the mortgagee c7 demand as a reason- able manthly rental for the premises an amount at least equ~valent to one-tw•elfth of the aggi•egate of the tw~el~e monthly~ installments pa~•able in the then current year plus the actual arnount of the annual taxes assessments, ~~~ater rates, and insurance premiums for such year not co~•ered by the aforesaid mont~aly payments. 9. 'That (u) in th~~ ~~~rut ~~f a~i~~ i~rt~~ic•h c~f this murtg<ig~~ ur ~I~~f2llflL U11 llll~ pa?•t ~~f t}it~ mortgagoi', +~i• t(~ ? iii th~~ ~~~•ri~t that ~in~~ ui' saic! sums e~!' munE~~~ }ier~~in i•efe?•rc~d t~~ bt~ nc~t ~~r~~mpt(~~ and full~• pai~l «•it}i- uut ElrTlltlil(~ ~~r i~utire, ur 1~•) in t4i~~ r~~-~~nt tizat ~~arh and c~~~c~i•~- thE~ sti~~uiatic~ns, agreeme~its, ron:iitions, ~tiicl c~~~E~i~ants uC .ai~l ~~utf~ ancl this tn~~rtgagf~, ~trc~ n"t ~1i~1~~, i>rutnptl~~, ~uu! iuil~~ pc~rformecl; tlien ~n t~ithcr ur .in~~ ,uc{~ c~~~~~t. tl:~~ .ai~l a};gr~~~atr ~tlill Ill~~iiiiuned i~? sai~l n~~t~~ th~~ii rrmaining ui~paid, ~~•ith illiE'1'l'5t :1CC1'tlE'(~ tU t~]~lt Illlll', <1?1(~ 8~~ [71tit1P1'S St'Clll'C(~ ~ll't't'~)1', S~l~i~~ f)t'CUITIE (jUe ancl pa~•able forth«~ith, ~~l' t}lE'1'Ciilfl'1'. at thc~ ~~i~tiun ~~l' ,airl nu»•tga~eF~, aG full~~ <it~ci cc~mpl~~t~~l~• as iC alf uf the said sums of manr~~ ~~•~rre ~~i~~,*inall~~ ;ti~~u111tE~d to I>~~ ~~~licl on sueh cia~•, at~)•tliing in saicl >>~~t~~ or iil tiiis mortgage to the eoiit?•ar~~ nut~~-ithst~in~lii~g; anci ttze~•e~uiwn ur therrafter, at tlie o~~tion uf' ,aicl murtgage~, ~~~ithoul notice or demand, ;uit at l~l~~' ~)l' lll l'(jlllt~'. illa~~ I~e 1»•ost~cute,l as if all mcn~r~-s sectu•c'f~ IlE'1't'U\' {1~1tI mature~cl p?•ioi• to its insti- tiitiut~. Tht~ mort~;~l~,rc~~~ m<i~~ f~»~~~cinsc~ this moi•tgag~, as t~~ the amotint s~~ clt~clai•rd clue an~i pa~-able, anci th~~ s~~icl ~~r~~mis~~~ shall bf~ ,nlcl t~~ satisf~' ~n~i pa~~ the sam~~ to~etlzE~r ~~~ith c~sts, ~~I~enses, and allo~~~ances. In casc~ ot' ~~artial f~~rc~rlosi~re~ of' this m~rtgake, the mrn•t~age~l premise~s sl~all be solci subjeet to the con- tiiiui?:k liE~i~ uf tii~s murtga~;c~ i~~?• th~~ <imc~~~tit of it~e ~l~~bt n~~t the~» clue ancl impaici. !n sunc ~ase the p~~ci- ~~isic~ns c~f this paf•~tgY~ii)h Ti?~3}' ~i~.,r<ti?1 1)c' a~~ailf~~i of thc~~~E~aftc~i• fr~~m ti:~l;~ tc~ tirtu~ b}~ thc~ nu;rtgagee. 10. That t}~e murt~;ag~~r ~~~ill Ki~~c~ imn~e~liate nr~tict~ mail t~~ th~~ mc,rt~a~;eE~ ~~f an~~ c~~n~~e~~ance. , ra~isfe?~, or ch~~i~~c~ uf ~~~~•n~~?•siiip c,f the premisE~s. 11. Th~it n~~ ~+'ai~~er ut an~' cu~~t>nunt hti'1'(lIl ~~r oi tiie ul~'.i~ati~m ~ecureci herei>~' sh~iil at a!~~~ time tht~reaftei• f~e hel~l tu he a~ti-~~i~•er c~f the 'terms }tti~reof o?• of the n~~te secui•ed herel~~~. 12. That if tr?e mortga~or default in any ~f the co~~enants or agreements contained herein, or in said note, tl:en the mortgagee rna}~ ~erfui•m the same, and ~11 ex~~enditures (incltiding reasonable attor- ne~•'s fees) made by the mortgagee in so doing shali clra~ti~ interest at the rate set forth in the note secured herehs~, and shall pe repa}•abie immediately and ~~ithotrt demand b~~ the mortgagor to the rnortgagee, and, together with interest and costs accruing thereun, sh<~II ~e sec.ured by- this mortgage. 13. That the mailin~ of a w ritten notice or dem~nd addressed to iha owner of record of the mortgaged ~~.•emises, ur dii•ected t~~ th~ said o~4~ner at the last addre,s actually furnistled to the moi•tgagee, or directed ~ to said o~.~~ner at said m~~rtg<~ged premises, and m~~led 1~y fhe L'nitecl States mails, shall be suf~icient notice and detnand in and~ case arising under this instrument and required by~ the ~rovisions hereof or by law. 1-4. The mortga~or co~~enants and agc•ees tliat so long a.s this moi•tgage and the said note secured hereby are insui•e~ under the pro~~isions of the N~tional Hcusing Act, he w•ill not execute or file for record an~~ instrument w~hic'h impc,ses a restriction upc.~n the sale or ~ccupancy- of tne mortgaged property on the t,asis of race, col~r, or creed. Upon any violatic~n of this Undertaking, th~e rnortgagee ,nay, at its option, decl~re the tmpaid balance of the cieht se~ured hereby immediatelti• due and payable. 5UCk( ~~.U