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Home My WebLink About1919 tines, ur impositions, fur which pru~~i~iun has nut be~n mad~~ hercinbefure, anil in default thereaf the n~urt- gagee may pay the same; and that he ~ ill promptly deli~~er the ofliriai receipts therefor to the marigagee. 5. That he H•ill {xrmit, cummit, c~r suffer no ~•aste, impairment, or deterioration of said pru~~ert~- or any part thereof ; and in the e~~ent of the failure of the mortgagor to keep the buildings on said premises an~d those to be erected on said premises, or impro~~eme~its thereon, in goocl repair, the mortga~t~e ma~• make such repairs as in its discretion it may~ deem necessary for the ~roptr preservation thereof, and the full amount of each and ev~ry such paymecit shall be immediately due and pa~•abte, anci shall ~e secured by~ the lien of this mortgage. 6. That he K~ill pay all and singular the costs, charges, and expenses, including reasonable la~~•~~er's fees, and costs of abstracts ef title, incurred or paid at an~• time b~~ the mortgagee because of the failiu•e nn the part of the mortgagor prom~tl~~ and full~~ to perform the agreements and co~•enants of said prom- issory note and this mortgage, and said costs, charges, and expenses shall be immediatel~~ due aiid ~a~•- able and shall be secured by the lien of this mortgage. ; 7. That he ~vill keep the improvements now• existing ur hereafter erected on the mortgaged propert~•, ~ insured as may be required from time to #ime by the mortgagee against loss by fire and other hazards. casualties, and contingencies in such amounts and for such periods as ma~~ he require~ by mortgagee, and will pay promptly, w~hen due, any premiums on such insurance for pa~~n:tT1Y Of N'F1lCI1 pTt)~'lS1011 has ~ not been made hereinbefore. All insurance shall be carried in companies approred b~• mortgagee and the policies and renew•als thereof shall be held b~• mortgagee and ha~•e attached thereto loss pa~•aE~le ; clauses in fa~•or uf and in form acceptable to the mortgagee. ln e~•ent of loss he «•ili gi~~e immediate notice by mail to rnortgagee, and mortgagee ma~• make proof of loss if not ma~e promptl~~ by mor±~agor, ~ and each insurance company concerned is hereby authorized and directed to make pas•ment fo?• such Ioss directl~• to mortgagee instead of to mortgagor and mortga~ee jointly, and the insurance proceeds, ur ; any part thereof, may be applied by tnortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property dan~aged. In e~•ent of foreclosui•e of this ~ mortgage or other transfer of title ta the mortgaged property in extinguishrt~ent of the indebtedness ~ secured hereby, all right, title, and interest c~f the mortgagor in and to an~~ i~isurance policies then in fcrce ~ shatl pass to the purchaser or grantee. R. That the mortgagee may, at any time pending a suit upon this rnortgage, a~ply to the court ha~~- ~ ing jurisdiction thereof for the appointment of a receiver, and such court shall forthwith appoint a recei~~er of the premises co~~ered hereby all and singular, including ali and singular the income, profits, i issues, and revenues from H•hate~•er source derived, each and e~•ery of ~;'hich, it being expressl}• undei•- ~ stood, is hereb}~ mortgaged as if sgecifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effectice functions and poH•ers in an~~~ti~ise ~ entrusted by~ a court to a recei~•er, and such appaintment shall be mad~ by such court as an admitted ~ equity and a matter of absolute right to said mortgagee, and without refei•ence to the adequac~~ oi• inad- equacy of the value of the property mortgaged or ta the solvency or insolsency' of said mortgagor or the defendants, and that such rents, profits, income, issues, and re~~enues shalf be applied b~~ such recei~-er according to the lien of this mortgage and the practice nf such court. In the e~~ent af any default on the part of the mortgagor hereunder, the mortg'agor agrees to pa,v to the mortgagee c~ demand as a reason- able monthly~ rental for the premises an amount at least equivalent to one-tH~elfth of the aggi•egate of the tw~elve monthl~• installments pa~•able in the then current. year plus the actual amount of the annual taxes assessments, «•ater rates, and insurance premiums for such year not co~•ered by~ the aforesaid ~ mont~l}- pa~ me:~ts. 9. Th~~t in thc~ t~~•t~nt uf an~- hrr~ach ~~f this murtg~tgc ~~r ~I~~f<luit un the p~u•t ~~f the mortgagot•, ur ~ 1,) ii~ tl~t~ c'\'l'llt t}l.it ~ln~~ c>t ~~~icl titiril~ ul~ T11011~~}~ hei•~~in i•~f~~i•reci tv be Ill~t ~)1'1~ri1~)~I~' 2111(I f11I~1' F)411(j ~~~ith- ~~ut cic~?n~~n~l ~n• i~utic~~, ur in th~~ ~~~~ent thztt e~acli and e~~e~•~• the st.E~~~latiuns, agreements, conditions, .Ulil Cu!'~~11~UitS ut ~ill(~ I1!rtt' lUl(~ t}li5 i11U1't~;~lgl', ~ll'e llUt (~U11", Ol'Ulllpt~\", 1R(~ IU~I\' OC'1'F019T1E?(j; tlle?Il 111 t~itl,~~r c~r ~~n}~ ;u~~~: ~~~~~•i~t, tlic~ ~aic1 a~grrg<ite ~tim n~~~titi~,nc~d i~i s~ii~~ n~~t~~ tli~~~i ~~~~mai?ting ui~p~iii, ~~~itli int~•rc~st ~~~•~rut~cl iu ti~at time, .uul all mu~iE~~~s se~~t~rE~cl hti~i•~b~~, sh~ill ~)l'i'vI11E~ clu~~ and pa~•able forth~~~ith, tiic~i•c~<<Ctt~?•, ~~t tlic~ cti~iti~»> uf sai~i ni~~i•t~agec~, as fi~ll~- a»cl com~7l~~t~~l~~ as il' a11 c~f th~~ said sun~s of mont~~• ~~~~~rr u?~~;inall~~ ,tipulatecl tn i,~ ~~aici o~i sueh cla}•, anrthing in saicl ~ie~te ~>i• in t}~is mc~i•t~age to the co~lti•ar~~ n~~t~~~ith~tan~li~i~*; .ii~d tl,~~r~~u~wn ur thereafter, at tlie optio» of saicl mortg~~g~•e, ~t~ithout notice or demand, .uit at la~~~ ur in t~cluit~~, ma~- V~~ prosc~cutecl as i~ all m~n~c~rs secured herei~~~ had maturecl prior to its insti- tutit~n. Th~~ m«i•t~;~tge~t~ ri~a~; fuj•~.~close this mortgage~, as to the amc~tznt sc~ cl~~cla?•E~cl clue an~i ~a~-alie, ancl t{it~ saic[ ~:r~~mi~z~ ~h~ill b~~ `~~l~l tu satisf~- ~n~i pa~~ tht same toReth~~r ~~~itt~ rosts, e~pc~t~ses, and allo~~~ances. iit casr of }~artial 1'~f~•ccle~s~ir~~ uf t~his moi~t~age, tfie mm•tga~e~! ~~r~~mises stzall be sc~ld stibject t~ the eon- llillllll~ ~it'll (~t f}11S I11U1'tf.,~ii}..,~E' t01' t~lt' ilillOliilt O~ t}lf' l~l'~t 11Ut t}1C11 (illl' illl(~ lillj)!11(j. ~1] SUC~] Cc`1SP t~lE' ~)1'O- ~ i;ic~tr~ ol this j)3l'tl~,r2'S~)~l Ill~l\' <1k1L'1 })E' ~i~'~U~t'(~ O~ tjlt'1't'2~fC~'1' tl'Ufll t1111E' tU t1I11C' 1)\' t}IE' I1101't~.?'r~$EC'. 10. That t(~t~ murt~~lf,*~~l' 1t'~11 ~;i~-~~ irnmecliat~ ~lc~t+et~ t,~- mail t~, th~~ mc,rtKa~;eE~ ~~f an~~ c•aiitie;•ane~~, transler, or change c~f u~~~nership r~t tlie ~~rr•tnises. 11. Th~it n~> ~+~ai~~~r ~~f a~~~~ c~~~•enant ~~el'E111 ~~r c3f tlie ul~ligatic~n sc~c•ureci herei~~• shall at an-y time tliereafter ~~e heli~ tu l~e a~~~~ii~'er t~f tiie tt~rms here~f or of ti~e note secured hereh}'. 12. That if the mortgagor deia~slt in ar~v of the co~•enants or agreements contained herein, or in said note, then the mortgagee ma~• perform tlie same, and all expenditures (including reasonable attor- ne~•':; fees) made by the mortgag~e in so doing shall dra~ti~ intere~t at the rate set forth in the note secured l~erE~1>~~, antl shali be i•ep1~•abla immeciiatel~• and ~~-ithutit demand b~• the mortgagur to the mortgagee, and, toget~ier with interest and costs ~ ccruing ther~or~, shall be secured by this mortgage. 13. T~iat the mailir~~ of a w~ritt~n notice or demancl addeessed to the owner of record of the mortgaged prerili:es, vY• dii•ected t~.> tl:c 5aid o«~ner at t}ie last riddress <ictuall~• fui•nisiied to the moi•tgagee, or directed to ~aici o~~~ne?• at s~ic~ mui•t~;~i~,red ;~remises, and maileci h~• the L'riited States mails, shall be sufiicient notiee and d~1]11I1~~ )R ~111~• case iiY'l~lTlg LIII;~el' tt11S lI1St1'UI1leI1~, ilI1C~ Ye(~U1Ce(j I)}~ the pro~~isions hereo~ or by law. 1-~. The it~oc•tga~,ror co~~enants and a~;i'ees that su :ong as this moi•tgage and the said note secured hereh3• are in:~ui•ed under the pro~•ision; of the :~ational IIousin~ Act, he w~ill not execute or file for recc~rd an~' insti•ument ~~~tiich im~?c~5e.~ a re~trictic~n u~xm tlie ~ale or occupancy of t'rie mortgaged p~•opert~• on the h~~sis of t-ace, color, or c?•e~d. L~pun an~• ~•ir~lati~~n of this undertaking, the mortgagee ma~~, at its optior~, ciec~lc;re t}~e un~~~iici l~~lance of the cjebt secured herei~y immeciiately due and payable. ~GRK l,