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Home My WebLink About1886 fines, or impositions, for ~ti•hich pro~•ision has noic been made hereinbefore, and in defdult th~?•euf th~~ murt- gagee may pay the sanie; and that he w•ill promptly deliver the ufficial receipts therefor to tne murtgagee. 5. That he w•ill permit, commit, or suffer no w~aste, impairment, or deterioration of said pr~~pert~~ or any part thereof; and in the event c~f the failure of the mortgagor to keep the buildi~~gs on saici pr~~niises and those to be erected on said premises, or impro~•ements thereon, in good repair, the rr?ortgaKr~~ ma~- make such repairs as in its discretion it may deem necessary for the proper preservation ther~~of, anel thN full amount of each and every such payment. shall bc~ immediately due and pa>•able, and sh~ll be s~~curNd by the lien of this mortgage. 6. That he w•ill pay all and singular the costs, charges, and expenses, including reasonal~le la«~~~er's fees, and costs of abstracts of title, incurred or paid at any tirne b~• the mortgagee because of the failure on the part of the mortgagor prumptly and fully to perform the agreeme!its and co~ t~nants of said prum- issory note and this mortgage, and sa~d costs, charges, and expet~ses shall be immecii~itel~~ due asid pa~~- able and shall be secured by the lien of this mortgage. 7. That he w~ill keep the im~aro~•ements now existing or hereafter erected on the mortgaged propert>•, insured as 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 such periods as ma~• be required b}' mortgagee, and will pay promptly. when due, any premiums on such insurance for pa~~ment of ~~~hirli ~ro~-i,ioti has not been made hereinbefore. All insurance shall be carried in companies appro~•ecl bt• murtgag~~e and the policies and renew•als thereof shail be held by mortgagee and hai•e attached thereto lass pa~•al~le clauses in favor of and in form acceptable to the mortgagee. ln e~~ent of loss he ~~ilt gi~•e immediate notice by mail to mortgagee, and mortgagee nia~• make proof of loss if not made promE~tl~• by mortga~c~r, and each insurance company° concerned is hereby authorized and directed to make pa~'meni for such loss directly to mortgagee instead of to mortgagor and mortgagee jointl~•, and the insurance proceeds, or any part thereof, may be applied by rnortgagee at its option either to the reduction of the indebt~~clness hereby secured or to the restoration or repair of the property damaged. In e~•ent of forerlusui•e of tyiis mortgage or other transfer of title to the mortgaged property in extinguishmF~nt of the indc~btedness secured hereby, ail right, title, and interest of the mortgagor in and to an~• insura~ice policies then in force shall pass to the purchaser ar grantee. That the mortgagee ma;;, at an3~ time pending a suit upon this mortgage, ap~~~~' to the court ha~~- ing jurisdiction thereof for the appointment of a recei~~er, and such rourt shall forth~~•ith appoint a receiver of the premises covered hereby all and singular, including ail and singular the income, protits, issues, and re~enues from w•hatever source derived, each and ever~• of ~i•hich, it being expressl~~ undei•- stood, is hereby mortgaged as if specifically set forth and desc•ribed in the granting and habendum clauses hereaf, and such recei~~er shall have all the broad and effective functions and pow•e?•s in an~•~~~ise entrustQd by a court to a recei~•er, and such appointment shall Ue mac~e b~• such coisrt as an acimitted equity and a matter of absolute right to said mortgagee, and ~~ithout reference to the adequac~• or inad- equacy of the value of t.he property mortgaged or to the sol~•enc~~ or insol~~ency oi said n~ortgagoi• o?• the defendants, and that such rents, profits, income, issues, and revenues shall be appiieci by~ such recei~~er according to the lien of this mortgage and the practice of such court. In the e~•ent of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the moi•tgagee c~ demand as a reason- able monthly rerital for the premises an amnunt at least equivalent to one-tw•elfth (r;.:) of the agg:•egate of the twelve monthly inst.allments pa~•able in the then current year plus the actual amount of the annual Laxes as.Sessments, water rates, and insurance premiums for such year nut co~•ered bS~ the aforesaid mont{~ly payments. 9_ That (cc) i?i the t~~~~~it i~i at~~~ Ure~ich of this mo~•tgage w• ~!~~f~ault un th~~ pai•t uf th~~ me~i•tgagui•, u?~ i 1~ ~ I11 t}ll' t~~~~~?it ti~~it <in~~ ~~1' sxi~i ;um; ~>f m~»it•~- }iE~rci~i rt~fe?•r~~d tu b~~ nut pr~~mptlt~ a?id fiill~• pairi «~itii- ~~ut ciem<u~cl ~~r u~~tic~~, ur t~') in th~• e~~ei~t that f~arli ancl ~~~~er~• the stiE~ulatiuns, ag?•f~ements, canciitiuns, .t~2~1 CU\'t'11~lIltS t~t ti211(~ ilOIt' ~lli(~ ~~IIS Il1U!'LF;2l~;E', 21i't~ I1Ot (~lt~}", ~)Culllj)i~1', .lil(I' f~if~I\" j)('?•f~i•me(~; t~lEtl 111 t'!iflt'Y Ul' 2:1i\' ~UC~1 t'\"t'llt, f~lf' S~il/~ R},Y~I't'};Iltt' SU111 Illt'ilti0ilC(j 111 S.llt~ llutt` t}lt'll 1"~'111211111i1b Utl~)~ll(~. \\'1t~1 intf~rt~st accruc~d t~~ that timf~, anci all nwiu~~~> sE'Cil}'f'd ht~rE~b~•, shall i~ccum~~ cluc~ anci pa~~aF~lc~ furth«-ith, ~~i• tl~E~r~~ai't~~~•. .?t thE~ u~~tiuii uf s<~iti m~~~•tgagee~, as full;; ~~nci campl~~t~~l~~ a:; if all nf thEr sairl s~rn~s of m~>t~e~~ ~~~~~rt~ c,i•ginatl~~ sti~>ulateri tc~ I~~ ~~airi n~~ such !]a~~. anti•tiiing in s<<icl n~~tt' O1' ltl tI1lS ill()i'I~c`lg!' CO t}lE? ('(~tltl'til'l' ~uit~~~ithst~uuling; ~in~l thE~rt~u~x>n c~r tht~r~~after, at the optio~~ of saicl m~n•t~;a~,~~c~, «~ithout. notic~e or ~lemand, •uit at I<~~ti~ ~~r in ~~c~uit~•, m.i~- l~~ pi•~~st~cutect as if <ill mun~~~~s secut•f~ct hc~reb~- had matui•~~ci prior to its insti- tutit>n. ~Ctic~ mc;~•tga~;t~t~ n~a~- fui~ecluse this moi•tgagt~, as t~> the amoui~t su ~lrclai•c~d ~iue and ~a~'ab1_e, an~i thc' ~~l](~ j)1'l'Illlti~~~ ,h<ill ht~ sc~lcl ti~ s~~11~;~' ~il(~ p~i}' th~~ samc~ togt~tiii~r ~~~ith cost~, e~pt~IlSl~;, anci allc~~~-ancf~~. Ii1 case ~~i' ~~a~•ti~~l f~~rr~cl~~s,n•c~ ~,f this mat•tga~E~. tile m~n•tga~'eci premisc~~ shall be soid subject to the cv~3- tinuin~; li~~» uf tliis ~n~,rt~,rag~~ for th~~ ame~t~nt of the ~le~bt n~~t then ciut~ an~l t~n,~aici. l~i ,iich ras~~ the ~~i~c~- ~~isi~ms of t}~is pai~agi•apti ma~• agR1i1 ~E a~~ailerl of tl~c~?~c~after from tirne tu timt~ b~~ the m~~rt~agee. 10. That ti~e m~>>~t~~tk~~i• ~~•il! ~;i~-E~ imnieriiatt na>tict~ t~~~ m<iil tu th~~ murtK~i~.~ef~ uf an~• con~~c~~~ancE~. ! f~<~~~s1'r'1'. U1' C~li~Il~E c~f ~n~~riership ut thf~ prc'fi11Sl'S. 11. That nu ~ti~ii~~er ~~f .ln~- cc~~~enunt hf~rein u~• of the ~~~~ligali~in sec•urt~ hE~re}~~' ~hall at ~tn}~ time ,iiei•~~aftei• 13e helci tc~ !>e ~i ~~'211~'PI' f~t 1.~1E' te?•rl» llerec~f OY l~C I{le ili>te SE?Clil'EfI IiE'TE'~)~'. 12. That if the mortgagor default in any of th~ co~•enants or agreements contained herein, or in said nc,te, theri 'tlie mortgagee mat~ perforn~ the same, and all e~pen~itures (inc~lutlin~ r•easonabie attor- ne~•'s fee.s) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured hereh~•, and shall be repa••abie immediatel~• a~~d withuut demand by the mortgag~r t.o the mortgagee, and, together with interest and costs accruing therec,n, sh<iil i~e secured by this mortgage. 13. That the rnailin~ of a«~ritten notice or dem<ind ~~dclres~ed to the ow'ner of record of the mortgaged s)TEt111~E'S, ur dic•ected to tlie said cncner :~t th;; last address actually furnished to the nioi•tgagee, or directed to ~aid o~sner at said m~~rtga~ed premises, and mailecl by the iJnited States mails, shall be sutiicient notice ancl de?nand in any~ case arising under this instrument and required by- the pro~~isi~ns hereof or by law. 14. Tl;e mortgagor co~~enants and agrees that w lotig a.5 t}~~~s mortgage and the said note secured nereh~~ ~re inst~recj un~ier the I~ro~•isi~ns c~f thc~ \ati~~nal H~iu~ing Act. he ~•il] ~iut e~ecute or tile for i~ec~~r~i <~n~• instrurnent w~hich impc,~es a restriction upon the sale or occupancti- of tne mortgaged ~~i•o~~ert~~ on the ha:;is of race, col~r, ur creed. ?_'~xm an~• ~~ic3lation of this undertaking, the mortgage>e ?nay, at its aptior,, ~~~~clrire the unl~aicl hal<~nce ~>f the caebt seeure~ herei~y immediatel~• due an~~i pa~•<:hle. r R. _ 8~ ~