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Home My WebLink About2349 fines, or impositions, for H•hich pro~•ision has nut been made hereinbefore, and in d~fanlt thereof the mort- gagee m~?y pay the same; and that he x~ill promptly deliver th~ official receipts therefor to the mortgagee. 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 on saia premises and those ta be erected on ssid premises~ or improvements therean, in good repair, the mortgaKee ma~~ make such rep,airs as in its discretion it may deem necessary for the proper preaerv~tion thereof, and the full amount of esch and every such payment shall be immediately due and payabte, and shall be secured lay the lier? of this rnortgage. ~ 6. That he will pay all and singular the costs, charges, and expenses, including reasonabie la«•~~er's feea, anci cc>sts of abstrxcts af title, incurred or paid at any time by ihe mortgagee because of the fdilure 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, char~ea, and expenses shall be immediately due and pa~~- able and ahall be secured by the lien of this mortgage. 7. That he will keep the improvements now• existing or hereafter erected on the mortgaged propertr, insured as may be required from time to time by the mortgagee against loss by fire anc~ other hazwrds, casualties, and contingencies in such ~mounts and for such periods as may be reczuired by martgagee, and will pay promptly, when due, any premiums on such insurance for pa}~ment of w•hich pro~•ision has not been 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 have attached thereta luss pa~•able clauses in favor of and in form acceptable to the mortgagee. In event of loss he H•ill gi~~e immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagoi•, and eac~ insuranc~ company concerned is hereby authorized and directed to make payment for sach loss directly to rreortgagee instead of Lo 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 indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage or ather transfer of titte to the mortgaged property in extinguishmAnt of the indebtedness . secttred hereby, all right, title, and inLerest of the mortgagor in ~nd to any insurance policies then in furce ahall pass to the 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 far the appointment of a receiver, and such court shall forthwith appaint a receiver of the premises covered hereby sti and singular, including ail and singnlar the income, ~rofits, issues, and revpnues from whatever source derived each and every of w•hich, et being expressly under- stood, is hereby mortgaged as if specifically set forth and described in the granting and habendutn clauses herevf, and such receiver shall have all the broad and effective functions and poH•ers in an}~~sise entrusted by a court to a receiver, and such appoint~~enL shall be made by such court as an admitted equit~~ and a matter of absolute right to said mortgagee, and without reference to the adequacy or inaci- equacy of th~ value of the property mortgaged or to the soivency or insolvenc,r• of said mortgagor ar the defendants, and that such rents, profits, income, issues, and revenues shail be applied by such receirer according to the iien af this mortgage and the practice of such court. In the e~•ent af any default ~n the part of the anortgagor hereunder, the mortgagor agrees to pay to the mortgagee cn demand as a reason- able monthly rental for the premises an amount at least equivalent t~ one-tw•elfth (!i~) of the aggi•egate of the twelve monthly installments payable in the then current year plus the actuad amount of the annual taxes assessments, water rates, and insurance premiums for such year not covered by the aforesaid mont~ly payments. 9. T}~~tt {a) in tl~e t~rent c~f an~~ brtach c~f this mortgage or ilefault un the part of tlie mortgage~r, or ~ ~ l,) lll t}lt' E'\'E'ilL t{l~it an~~ uf saicl wm~ of mo?ze~~ herein referred to be not promutlt• and full~• paid ~cith- eiut clemanci o?• nuticc, or (r) in tfte i'~'E'Ilf tFl~it E~ac•h and e~•e~•~~ the stiputations, agl'ECf!IPI1~S, eonciitions, ~uici cu~~c~?zants of s~~icl t~vic~ ai~~i this mo~•tgage, are nut rluly, 1~~•umptlr, a~ici full~~ p~rforn~ed ; then iti t~ith~~r ur ai~~• such ~~~•~~~it, th~~ saici a~gregate sum mriitioneci i?~ sai~l »ote then rcl~~ainitig unpaid, ~~•ith _ interest arcru~d tu ti~at timE~, anci al! ilic)IlE'\'S Serui-ed her~~b~•, shall becr~me due anci pa~•able foi•th~~•ith, u2• tiier~~at'tei•, ~t the optioi~ uf said moi•tgagee, as fuil~- a?~d comptetE~l}• as it' all of the s~3irl sums of mone~~ ut~Kiciall~• sii~?t~1atE~r1 to 1~e ~~aid o~~ such daS•, anti'thing in s~itl nc~te or it~ this niortga~e to the contrarj• not~~~it}~stancii~ag; aiici tltrreu~~o?i ur thei~eaftei~, at tl~e option of said mortgagee, ~rit}~out notice or clema~id, s~iit at l~lt\' U1' I11 E'Qlllt\', ma~• ~e nroserutecl as if ~.11 mu?ie~•s seei.~red hereb~• hacl ntaturec( prior to i~,s insti- tution. The mortgag~~e ma~• forecicrse tl~is mortgage, .iS t0 t11E' FiItlOlti2t so clc~clai•ed ~li~e anc~ pa~~able, ancl th~~ s~;l(~ })1'E'IT11~E'~ s1~a11 bc~ sc~l~l to satisf~• ancl pa~• the SAiTIE' t0$Et~ltl' \~'It}1 COStS, E'~j)E?17S15, and ailo~~•anc~s. In rase oti partial f~~r~~closurc c~f this mortg~~gt~, the mortgagecl premises shail be sold subject to the con- tlllltil}R' ~Itil ~f this mortga~;e for thc~ amotmt of tile ~iebt not theti ciur anc( unpaici. [n such case the pr•o- ~ isions of tilis r,arag,•<~pli mas~ again be a~•aitecl of thereaftE~r f`~•om !;n~e tc~ time bi• tt~c~ martgagee. 10. That the mo~•t~;a~r~i• «•i)i gi~•e imme~liate nr,tice bt~ mail to thc~ mortgagef~ ~~f an~• con~~e~•anee, t~•a>>sfer, ur c}~ange.~ of t,«~lie?•ship of the ~)1'lISIISES. 11. That no u~ai~•er ~~f 8I1J' C<>\'Pllitllt he~•ein ~>i• of the ol~li~ati~~n secured here{~~~ shall at an~• time t}tEti~eafter l~e helci to I~e a~s_ii~•er of the te?•ms hereof oi• of tfie nute secured her~i~~•. 12. That if the mortgagor defau]t in any of the cosenants or agreements coritained herein, or in said note, then the rnortgagee may perf~~rm the same, and all expenditures (including reasonable attor- ne~'s fees) made by the mortgagee in so r]oin~ sha11 dra~~ interest at the rate set forth in the note secured hereby~, and shall be repa~•able immediately and ~sithout demand by the mortgagor to the mortgagee, and, together with interest and costs accruing thereon, shalt be secured by this mortgage. 13. That the mailing af a written notice or demand addrQSSed to the owner of record of the mortgaged pi•erilises, or d:rected to the said oµ-ner at the last ~ddress actually furnished to the mortgagee, or directed ~ ~ to saici o"~ner at s~id mortgaged prenYises, and mailed t~y the United States maSls, shall be surTicient notice and demand in an~~ case arising under this instrument and reyuired b}~ the pro~•isions hereof or by law. 14. The mort~agor co~•enants and a~rees that so long as this mortgage and the said note secured hereby~ are insured under the pro~•isions of the Iti'ational ~Iousing Act, he will not execute or file for record any icistrument which im~,ses a restriction upon the sale or occupancy of tne mortgaged pi-o~>erty~ on the taasis of race, color, or creed. Upon any violation of this undert~king, the mortgagee may, at its option, declare the tmp,~irl balance of ±he debt secured hereby immediately due and payable. R 121 BOGK ~