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Home My WebLink About2142 ~ , . _ . , ~ fines, or impositions, for w•hich provision has not been made hereinbefore, and in default thereof the mort- gagee may pay the same; and that he will promptly deliver the official receipts therefor to the mortgagee. 5. That he will permit, cornmit, or suffer no wa3te. impairment, or deterioration of said propert~• or any parL thereof ; and in the event of the fsilure of the mortgagor to keep the buildings on said premises and those to be erected on said premises, or improvements thereon, in good repair, the mortgagee ma~• make such repairs as in its discretion i't may deem necessary for the proper preservation thereof, at~d the full amount of each and every such payment shail be immediately due and payable, and shati be secured by the lien of this mortgage. 6. That he will pay all and singular the costs, charges, and expenses, including reasonable la~~•y~er's fees, and costs of abstracts of title, incurreci or paid at any time by the mortgagee because of the failui•e on the part of the mortgagor promptiy and fully to perform the agreements and coti~enants of said prom- issory note and this mortgage, and said costs, charges, and expenses shall be immediately due and pa~•- 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 fr~m time to time by the mortgagee against lass by~ fire and other hazards, casualties, and contingencies in such amounts and for such periods as ma~~ be required by mortgagee, and will pay~ promptly, when due, any premiums on such insurance for pa~•ment of ~+•hich pro~•ision has not been made hereinbefare. All insurance shall be carried in compan~es sppro~•ed by mortgagee and the policies and renewals thereof shali be held by mortgagee and have attached thereto loss pa~•able clauses in favor of and in form acceptable to the mortgagee. In event of loss he µ•i!! gi~•e immediate notice by mail to mortgagee, and mortgagee may makz proof of toss if not made promptly by mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such loss directly 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 either to the reduction of the indebtedi~ess hereby secured or to the restoratian or repair of the property damaged. In e~•ent af 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 af the mortgagor in and to any insurance policies then in force shall pass to the purchas~er or grantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, apply to the court hav- ing jurisdiction Lhereof for the appointment of a receiver, and such court shall forthH•ith appoint a receiver of the premises covered hereby all and singular, including all and singular the income, profits, issues, and revenues from whatevet° source derived, each and every of w•hich, it being expressly under- stood, is hereby mortgaged as if specifically set forth and described in the granting and haber,dum clauses hereof, and such receiver shall have all the broaa and effective functions and pow•ers in any~~~•ise entrusted by a court to a receis~er, and such appointment shall 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- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or 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 default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee cn demand as a reason- able manthly rental for the premises an amaunt at least equivalent to one-twelfth (!1z) of the aggi•agate of the twelve monthly installments pa~•able in the then current year plus the actual amount of the annual taxes, assessments, w~ater rates, and insurance premiums for such year not covered by~ the aforesaid monthiy payments. 9. T~1RC ~(i~ 111 tI1(' E\'llit Of an1~ breach oi this mort~age or ~I~fRUIt t1Y1 tllC' paj•t of the mortgagor, o?• (1,) i~i the ~\'Ellt t}1Zt ~tti~• c~f saici sums of mane~~ herein i~eferred to be nat prc~mptl~• and full~~ paid «~ith- uut dc~mar.<l oi• notice, ur (c) in tElt e~~t~nt that eari~ and e~~er~• the stipttlatic,ns, agreements, canditions, ~inci ef~~en~tnts ot' s~iicl n~tr a~ad this moi•tgagc, ai•e n~~t duly, prurnptl~', and itill~• perfoi•meci; then in ~~ithE~r c~3• an~- ~uc{~ ~~~~~~nt, th~~ saicl a~g~•egate sum m~~~itioned in s~i~l »ott~ tiieii i•~~maining u~ipaid, u~ith intere~t acerued tu that time, anci all mone~•s securE~c1 hereby~, shall ~c:come due and pa~•able forth«•ith, ~~i~ therE~<i1'tc>?•, at thc~ o}~tion ~~f saici moi~tgagee, as full}• and completf~l~• as if all af the said sums of mone~~ ~~~~~i•e ur~inall~- stipulated to I~~ paici oii si~eli cta~•, an~~thing in saicl note or in this mortgage to the eontrar~• not«~itlist~inding ;~~il(j t}lE~rcu~x~n oi• tlie~~cafter, at the option ot said mortgagee, «•ithout notice or ciemand, suit at la~~~ or in equit~•, ma~~ ~e pt~osecuteci as if all mun~~•s seein•eci hereb~~ had mattn•ect prior to its insti- tution. The mortga~~e~ ma~~ forecluse this mortgage, ~s to the amount so deela~•ecl due and payable, ancl ttte~ said pi•emisc~~ shall bc~ solcl to satisfi~ ar.c~ pa}~ the sam~ together ~~~itti costs, expenses, and ~illo«•ances. li~ case of partial f~n•eclosure i~f this mortgage, the mortgagecl premises shall be sold subject to the con- tinui?~g lien of tliis mortgage~ fof• the amou~~t of the ~lebt »ot then diie an~l unpaid. In such case the pro- ~~isiot~s of this pa~~ag~~aph ma~• again be a~~~ileci of th~>reafter from time to time b~- the mor•tgagee. 10. That the ?nc~rtgag~~t• ~~~ill gi~~c~ imm~iiiate ~iotice b}• mail to the mortga~ee of aci~• con~e~-ance, ti•ansier, or change ~~f cn~•ne~•ship of the premises. 11. That n~ ~4~ai~~er of <in~• c~~~~en~int hei~ein oi• of t{~e obligation secured hereb~~ shall at any time the?•eafter t~e ijeid to !~e a ti~~~i~~er of the terms he~•eof oi• of the nute secui•ed hereby. 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in said nute, then the mortgagee may perforrn the same, and all expenditures (inclu~ing reasonable attor- ne~•'s fees) made by the mortgagee in so doing shall drav+~ interest at the ra,te set forth in the note secured hereby, and shall be repa~~able immediately and w~ithout demand by the mortgagor to the mortgagee, and, together with interest and costs accruing thereon, shail be secured by this mortgage. 13. That the maiting of a H•ritten notice ~r demand addressed to the owner of record of the mortgaged ~rernises, or directed to the said owner at the last address ac±ually furnished to the martgagee, or directed ~ *o said aw~ner at said mortgaged premi~es, and mailed by the United States maits, shall be sufficient notice and demand in any case arising under this instrument and required by the provisions hereaf or by law. 1~. The mortgagor ca~~enants and agr~es that so lung as this mortgage anti the s~id note secured hereby~ are insured under the prod•isions af the National ~iousing Act, he w~ill not eaecute or file for record an~• instrument w•hich im~wses a restriction upon the sale or accupancy of tne mortgaged property on the }>asis of race, color, or creed. Upon any vialation of thi5 undertaking, the mortgagee may, at its option, declare the unpaid balance of the debt secured herehy immediately due ~nd payable. 900K tJ~ f