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Home My WebLink About2084 ~ . . ? ~ ~ ' • : ` . fines, or impositions, far w~hich provision has not been made hereinbefore, and in default thereof the mort- gagee m$y pay the same; and that he will promptly deliver the oFficial receipts therefor to the e:ortgagee. 5. That 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 the buildings o~ said p?•emises and those to be erected on said premises, ar impro~~ements thereon, in good repair, the amortgagee ma~• make su~h repairs as in its discretion it may deem necessary for the proper preservation thereof, and the full amount of each and every such payment shall be immediately due and payable, and shall be secured by the lien of ihis mortgage. 6. That he ~•ill pay gll and singular the costs, charges, and expenses, including reasonable la~~•~•er's fees, and costs of abstracts of title, incurred or paid at any time by the mortgagee because of the failure on the part of the ttiortgagor promptly and fully Co perform the agreements and co~•enants of said prom- issory note and this mortgage, and said c:osts, 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 r:~ortgaged propert~•, insured as may be required from time to time by the mortgagee against loss by fire and other haxards, casualties, and contir?gencies in such amounts and for such periods as ma~~ be required by mortgagee, and will pay promptly~ when due, any premiums on such insurante for pa~•ment of w•hich pro~~ision has not iaeen made hereinbefore. All insurance shall be carried in companies appro~•ed by mortgagee and the policies and renewals thereof shall be held by mortgagee and ha~~e attached thereto loss pa~•able clause5 in fa~•or of and in form acceptable to the mortgagee. In event of loss he ~~~ill gi~•e immediate notice by maii to mortgagee, and mortgage~e ma~• make proof of lass if not made promptly by morigagar, and each insuranc~ company concerned is hereby authorized and directed to make payment foi• such lass direetly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be anplie~ by mortgagee at its option eit.her to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. ln e~•ent of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and ~o any ~nCurance policies then in force shall pass to t~he purchaser or grantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, apply to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forthw•ith appoint a receiver af the premises covered her~by all anci singuiar, inciuding all and singular the income, profits, issues, and revenues from whatever source derived, each and every of w•hich, ~t being exprzssly undPi•- stood, is hereby mortgaged as if specifically set forth and described ic~ the granting and habendum clauses hereof, and such receiver shall have all the broad and effective functions and po~~ers in an~•w•ise entrusted by a court to a receiver, and such appointment shal! be made by such court as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequac~• or inad- equac3~ of the value of the property mDrtgaged or to the solvency or insol~•ency of said mortgagor or the ciefendants, and that such rents, profits, incorne, issues, and revenues shall be applied by such recei~•er according to the lien of this mortgage and the practice af such court. In the e~•ent of any default on the part of the mortgagor hereunder, the mortgagor agrees t~ pay to the mortgagee cn demand as a reason- able monthly rental for the premises an amount at least equivalent to one-t~•elfth of the aggregate of the twelve monthly installments payable in the then current year plus the actual amount of the annual taxes assessments, ~+~ater rates, and insurance premiums for such year not coti•ered by the aforesaid mont~ly payments. 9. That (a) in thc~ e~~c~nt c~f ~~n~~ b~•f~ach ~,f ihis niurtgagr ur ~I~~fatilt e~n tl~e part of tiie mortgagor, c~r ~ 1,) in the c'~'t'tlt tVlllt ~in~• uf' said sums of mone`~ iierein i•efei•red to be ?lUt ~)1'l~ill}3t~1' 311(j fUIIJ' ~Jal(~ «~itti- c~ut cit~mancl ui• nuti~•~~, ~r (r•) in thE~ t~~ent t}~~t ~~aclt and e~•er~• the stips~lati~~r~s, agreements, conditions, ~incl cu~~~na~~ts c,f s~ticl n~.~tc~ an~l this mortgagc~, are nut du1~•, ~~rumptl~•, anci full~~ performed; then in ~~itht~r ~~r rui~- ~ucli ~~~-~~a~t, ihE> >aici aK~regate sum mc~iitionrd in sai~l uot~~ th~~n remaining wipaid, ~~•ith i»tei•c=st arc:i~lit~ci tc> that tirrie, and all i11UIlE'\'~ secw•ecl hei•eb~•, shall ~~~come clue and pa~•able foi•th«-ith, ~~r there~it't~~~•, at thE~ upti~~n uf s~.icl mortgagee, as full~• ~ln<i complet~~l~• as if all of the said s>>ms of mone}- ~~re ur~;ii~ail~~ stipulateci to I~e paicl oil such ci~~~~, an~~thing in saiil ii~~te or iii tltis moi•tgage to the eo~~ti•ar~• nutu~ithstxn+iing; and thc>re~t,~~on or thereafter, at the option e~f said mortgagee, ~~•it}IOUt natice or demand, suit at la~~~ ui• in eq~~it~~, tna~- I~c: pros~~~:utecl as if al) mo~ii~~~s securc~ci hereb~~ liad mattu•ed prioi• to its insti- tution. Tht~ moi•tg~~ee~ ma}• fo~•eclc~se t}iis mortgag~, .t.s to the amount so clc~clared <iue at~d pa~~able, an<i tht~ saicl pi•emi:~r~ sl;~~ll be~ ,olct to satisf~• aiid pa~~ thc~ ~ame togethf~r ~~~ith costs, expc~nses, and allo~~•ances. ln case of ~~artial fc+~•c~rlc~~ure ~~f this mortgage, the mrn~tgag~~l i~remises shall be sold subject to the con- tinuing ]i~~n ~}f this nun•t~agt~ fc~r tllt~ ~imut~rrt of the ~iebt noi t}Zeti clue ancl ur~pr~id. (n such case the pro- ~~isioi~s uf this ~~~?•agrap~~ ma~~ again be a~~~iilt~ci of thereaftet• f?•om tim~~ tc~ time b~~ tlie moi•~gagee. 10. That t}~t~ m~~rtga~~>r ~~-ill ~i~~e immediate i~citice mail to thr- murtga~ee of an~~ cc~n~~e~-ance, tr~u~sier, or change <~f o~~•~~ersti~p of the pf•emises. 11. That n<~ ~+-ai~~er uf an~• ~•~~~~en~int hereit~ ni• of the ahli~ation secured herel~y shall at any time thereafter l~e i:elcl to I,e a~+'~ti~'er uf tlie term~ i~ereof or of the nute secured hereb~•. 12. Th~t if the mortgagor default in any of the covenant~ or agreemenfs contained herein, or in said note, then the mortgagee may perfurm the same, and all expenditures (including reasonab~e attor- ne~-'~ fees) made by the morigagee in so doing shall draw• interest at the rate se~ forth in the note secured hereby, and shall be repa~•able immediatel` and w~ithout demand by the mortgagor to the mortgagee, and, together v'ith interest and costs accruing thereon, shall t~e secured by this mortgag~. 13. That. the mailing of a w~ritten notice or demand addressed to the owner of record of the mortgaged ; premises, or c~irected tc~ the said ~«~ner at the last address actually furnished to the mortgagee, or directed ` f to said o~~~ner at said mortgaged premises, and mailed by the tinited States mails, shall be suf~'icient r?otice • and demand in any case arising under this instrument and require~i by~ the pro~~isions hereof or by law. 1-~. The mortgagor co~•enants and agrees that so long as this mortgage and the said nate secured her~by are insured under the pro~•isions of the ti'ational Iiouying Act, he H~ill not execute or file for rec;ord anS~ i~istrument which imguses a restrictior upon the sale or occupanc}• of tne mortgaged property on the basis of race, color, or c~•e~d. Upon an~~ vialation of this t~ndertaking, the mortgagee may, at its opti~~, declare the unpaid balanee of the del~t secured hereby immediatel~~ due and payable. S~R~ ~~.1 l, 0 R • - BCulc . 9 ~ i