The URL can be used to link to this page

Home My WebLink About2249 t t~ ;i a~ fines, or impositions, for w•hich pro~~ision has not been made hereinbefore, and in default thereof the mort- ~ i gagee may pay the same; and that he w•ill promptly deliver the official receipts therefor to the mortgagee. i, 5. That he will permit, commit, or suffer no waste, impairment, or deterioration of said propert>• or I any part thereof; and in the event of the failure of the mortgagor to keep the buildings on said preniises ~ and those to be erected on said premises, or impro~~ements thereon, in good repair, the mortgagee ma~• ~ make such repairs as in its discretion it may~ deem necessary far the proper preservatian thereof, and the ~ full amount of each and every such payment shall ba immediately due and payabte, and shalf be secured I by the lien of this mprtgage. ! 6. That he will pay all and singular the costs; charges, and expenses, including reasonable la~~~~•er's ~ feea, atid costs of abstracts of title, incurred or paid at any time by the mortga~ee because of the failure on the part of the mortgagor promptly and fully to perform the agreements and co~•enants of said prom- ~ issory note and this mortgage, and said costs, chargea~ and expenses shall be imrnediately- 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 from time to time by the mortgagee against lass by fire arrd other hazards, ~ casualties, and contingencies in such amounts and for such periods as may~ be required by mortgagee, ~ and will pay promptly, vshen due, any premiums on such insurance for pa~~ment of ~~'hich pro~~ision has ~ not heen made hereinbefore. All insurance shall be carried in campanies appro~~ed by~ mortgagee anc~ ~ the policies and reneK~a?s thereof shall be held by mortgagee and ha~•e attached thereto loss pa~•able ~ clauses in favor of and in form acceptable to the mortgagee. In event of loss he ~~•ill gi~•e immedi3te natice by mail to mortgagee, and mortgage~ ma~• make proof of loss if not mac~e promptl~• by moi•tgagoi•, ~ and each insurance company concerned is hereby suthorized and directed to make payment foi• such loss directly to mortgagee instead of to mortgagor and mortgagee jaintl}•, and the insurance proceecls, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness ~ hereby secured or to the restoration or repair of the property damaged. In er~•ent of foreclosure of this ~ mortgage or other transfer of titie to the mortgaged property in extinguishment of the ind~.~btedness secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in force sha11 pass to the purchaser or grantee. ~ 8. That the mortgagee may, at any time fiending a suit upon this mortgage, appl~• to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shail forthw~ith appoint a receiver of the premises covered hereby all an~i singular, including all and singulai• the income, profits, issues, and revenues from whatever source derived, each and every~ of K~hich, it being expressly undei•- : ; stood, is hereby mortgaged as if specifically set forth and described in the grar~ting and habendum clauses , ~ hereof, and such reeeiver shall have all the ~ro:~ d and effecti~~e functions and po«•ers in an~•~•ise entrusted by a court to a receiver, and such appointment shall be made by such court as an ac~mitted eq~~ity and a matter af absoiute right to said mortgagee, and without reference to the adequac~• oi• inad- equacy of the value of Lhe property mortgaged or to the solvency or insol~•ency of said mortgagor oi• the defendants, and that such rents, profits, income, issues, and re~~enues shall be applied b~• such recei~•er according to the lien ~f 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- 1 ; able monthly rental for the premises an amount at least equivalent to one-tu~elfth of the aggregate ~ of the twel~~e monthly installments pay~able in the then current y~ear plus the actual amount of the annua] > taxes assessments, water rates, and insurance premiums for such year not co~~ered by the aforesaid ~ mont~ly gayments. 9. Th~it (c~) in th~~ ~~~~nt uf ai~~~ brE'21CI1 Of tI115 IllU!'tf;age or ~l~~f~iuit un t{i~~ p~irt of the mortgagor, oi• ( f~) in tiic e~~e~it that ~ln~~ ~~1' s~~id sums of mu~ie~~ hei•citi 1'Efl'1'YE'ci tu be Rt)t ~f'~~Illpt~~' Si1CI fl1l~\' j~dl(1 \\'iL}l- ~ ~~ut cif~manci or nutire, or (c~) in the e~•ent that eacli a»d e~•e~r~~ ti~e ~ti~~ulatiuns, agreement~s, conditio?is, : <inci cc~~~~~nai7ts of s~iicl nc,tE~ a~ici tViis moi•tgage, arE: n„t clu1~•, ~,rui7~ptl~~, ~inci t'till~• p~?•foi•mecl; tlie~r i~i ~ t~ith~~i• or au~~ ;uch e~-~~nt, tl~f~ saic! ag~:r~~gate ::um rn~~ntionecl iiz sai~l ~iot~~ tlu~ii r~~maining unpaid, ~~-ith interest accriieci t„ that timc~, ~;ilcl a~l ?i~unf~~~s se~cut•ed ize~•eb}•, sha(i t~ecume clue and pa~•able foi•th«~it}l, ° ther~~ai~t~~i•, .ti t11E~ ~>pti~m nf sai~i mo~•t~agee, as full~~ rintl completri~• a~ it~ all uf tht~ saici sums c~f mont~~• 3 ~~~~~re or~;in~li~~ stiputated to I~c paici on such cia~-, an}~thii~g in s~ii~l »ot~ ot• in t?tis murtgage to the contrar~~ ~ not~~~ithstancling; 21R(~ Illl~rru~wn or the~i•eaftrr, tit ~~il' O~)t1011 UI~ 5~11(1 I1701't~~ig(~, ~~~ithout notice or ciemand, ~ suit at 1a~~~ ur in equit~~, ma~- be proseeutecl as if all mo»r~~s seeurecl hereb~~ hacl matui•c~cl prior to its insti- ~ _ tutio?~. The moi•tga~t~f~ .na~~ foi~eelc>~e this mortgagc~, ~es to the amot~nt so cieclared cluE~ anci ~a~'ak~le, anci tlu~ saicl p~~t~mise; shall be~ ;:olci t<~ satisf~• an~l pa}~ thc~ ~amE* tOgEi~lt'1' ~~'i~}l COStS, ~~~x~nsrs. and allo«~ances, j _ In ~ase ~f partial furc~clc~su~•c~ of this mortgage, the m~~;•tgaxecl ~~remises shzll be solci subject to the con- ~ tinu;ng lie~l of thi, mc,i•tga~,?e fur t}i~~ am~~uiit of t}ie ~i~~bt ~iot then cluE~ <;n~l unpaici. In su~h ca.e the prt~- ~ ` ~-isions of this pa~•agra~jh ma~• agai» be a~~aileci of tl~ereafter fram time to time bs• the mortgagee. ~4 ~ 10. That t}ie Illul't~,ra~~~~• ~~~ill Ki~~c~ i?~~meciiate notice 1~~• mail t~~ thf~ mortga~,~e~~ uf an}~ ron~~~~~~anrc~, f ~ ir~?usfe~•, or change of ~~~~~nc~rs}~ip of tiie pr~~mises. ! _ 11. Th~it n~~ ~ti<ti~~er c~f ~t11~' C(i\'tT12111t ht~l~ein ~~i• of the uhli~ation ~ecurec~ hereh}• ,hall ill. tlIl~' t1i11E ~ ~ thereafter tie held tc~ Ix~ a~ti-ai~~er r~f ±t}e terms hereof or of the rute secure~j herel~~•. ~ j:_ 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in ! said note, then the mortgagee may~ perform the same, an~l all expendi'~ures (inciuding reasonable attor- ~ ney~'s fees) made by the martgagee in so doing shatl dra~v interest at t he rate set fort h in t he note secure d ~ herei~y, and shall he repa~•able immediatel~• and w~ithout demand b~• the mortgagor to the mortgagee, and, i~ together w~ith interest and costs accruing there+~n, shall be secured by this mortgage. ~ i. 13. That the mailin~ of a w~ritten notice or demand add?•essed to the owner of recorcl of the mortgaged ~ pi~er~~ises, or dit•ected to the s~id ow~ner ~,t the last address actu~ily furnished ta t}ie mortg~gee, or ciirecteci ~ to said o~~ner at said mortg~iged pz•emises, and mailed b~• the United States m<~ils, shall be suf~icient notice and demand in ~sny~ case arising under this instrument and reyuired by th? ~~ro~•isions hereof or by law. ~ 1-~. The mortgag~~r co~~enants and agrees that so long as this mc~rtgage and the said note secured - hereby are insured under the pro~•isions of the ~ation~~l ~Iuusing rict, he r+•ill n~~t e~:ecute or file for rec~~rd E an~• instrument ~vhich imposes a restriction upon the sale or occu~ancy- of tne mortgaged proE~ert~~ on the ! basis of race, color, or creed. Upon ~nd~ violation of this undertaking, the mo!•tgagee ,nay, at its option, ' decl~ re the unpaid balance of the det~t secured hereb,y immediately c?ue and payabie. I? i- ~ 0 R 1~~ ~ ~ ~D~!( ~