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Home My WebLink About2816 fine$, or impositions, for w•hich pro~•ision has not been made hereinbefur~, and in default thereof the ::nort- gagee may pay the same; and that he will pramptly deliver the afficial receipts therefor to the mortgagee. 5. That he will permit, commit, or suffer no waste, impairment, or dete: ioration of said propert~• ar any part thereof; and in the event of the failure of the mortgagor to keep the buildings on said premises and those to be erecte~ on said premises, or improvements Lhereon, in good repair, the mortgagt~e may~ ma}te such 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 pa~~able, and shall !~e secured by the lien of this mortgage. 6. That he will pay all and singular the costs, charges, and expenses, inciuding reasonable la«•~~er's fees, and costs of abstracts of titte, incurred or paid at any time by the mortgagee because of the fail~~re on the part of the mortgagor promptly and fully~ to perform the agreements and co~•enar.ts of said pi•om- 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 thi~ martgage. 7. That he will keep the impro~ ements now• existing or hereafter erected on the n-~ortgaged properti•, insured ~ may be required from time to time by the mortgagee against loss by fire and other hazards, casuatties, and contingencies in such amo~nts 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 hereinbefore. All insurance shall be carried in companies appro~•ed by mortgagee and the policies and renewals thereof shall be held by martgagee and h~?ve attached thereto loss pa~•able clauses in favor of and in form acceptable to the mortgagee. ln event of loss he ~•ill gi~•e immediate notice by mail to mortgagee, and mortgagee may make proof af loss if not made promptl~• by moi•tgagoi•, and each insurance company concerned is hereby authorized and directed to make pay~ment foi• such loss directiy to mortgagee instead of to mortgagor and mortgagee jointly~, and the insurance proce~ds, or any part thereof, may be applied by mortgagee at its aption either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damagec~. In e~•ent of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishm~nt of the indebtedness - secured hereby, all right, titie, and interest of the mortgagor in and to an~• insurance policies then in force sh~ll pass to the purchaser or grantee. 8. That the mortgagee may, at any time pending a suit upon this martgage, appl~• to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forth~~~ith appoint a reeeiver of the premises cavered hereby all and singular, inciuding all and singular the income, profits, issues, and revenues from w~hatever source derivetl, each and e~•er~~ af w~hich, it being expressly under- stood, is hereby rnortgaged a.4 if specifically set forth and described in the granting anci habendun, clauses hereof, and such receiver shall have all the broad and effective functions and poH~ers in an~•a•ise entrusted by a court ta~ a receiver, and such appointment shail be made by such co:~rt as an admitted equity and a matter of absolu~e right tn said mortgagee, and withaut reference to the adequac~• or inad- ec~uacy of the value of the property mortgaged or to the solvency or insol~~ency of said mortgagor oi• the defendants, and that such rents, profits, income, issues, and revenues shall be apptied by~ such recei~~er acc~rding tn the lien of this mortgage and the practice of such court. In the et~ertt of any c~efault on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee c~? demand as a reason- able monthly rental for the premises an amount at least equivalent to one-t~~elfth of the aggi•egate of the twelve monthiy installments pa~~able in the then current, year plus the actual amount of the annuat taxes assessments, w~ater rates, and insurance premiums for such year not co~~ered b~~ the aforesaid mont~ly payments. 9. That (cr? ii3 tht> ~~~~e~~t c~f ari~• b~•t~ach of this murt~~~ge or ~l~~fault ~~ai thc' })i1Ct c~f the mortgagor, e~r 1~~) i~i the e~•ent th~t an~- of said sums of mone~- herein referred t~ be not pr~~mptl~• and full~~ paid ~rith- uut cic~manci ut• i~utic~~, or (c•) in tlu~ ~~~~ent that each and e~•er~• the sti}~ulati~ms, agreemeit~s, conciitions, <<nrl cc~~~t~»ants of' wai~l note an~l this mortgage, ~~re not ~1u1~•, [~t•umptl~•, ~~nc] full}- ~~>erform~~d ; then in f~itht~i• <,i• ~zn~• ,u~•iz ~~~~~~~it, tl~r sai~i .igg1•t~K4zt~~ ,um m~~ntioneci iz: s~?i~l ~iut~ th~~» >~~~lllillTllil~,' unpaic~, ~~•ith intE~rest ac•cruE~d tu 'tl~at time, ai~d all mu~it~~'s secured iiE~r~by. siiall ~ec:ome due and ~a~•abie forth~t-ith, ~~i~ the~•eaCt~~r, at thE~ ~~}~tivu ~~f sairi mot•tgagee, as full~- aiicl complet~~t~• as if ali ~~f the saic~ siims of mo~iel- ~~i•e ui~~;ii~a(1~- sti~>ulated to I~e ~~aici un sirch ~ia}•, an~~thitig in saic! note o~• in ti~is mo~•tgage to the cc~ntz•ai•~~ ~ioi~~~it}lstan~ling; ancl thE•f•ru~~u.~ ur thereafter, at the option of said moi•tgagee, ~~~ithout ?iotice or demand, suit at la~~- or iu equit~~, ma~~ be prosecute~l as if ali munc~~~s seeurecl hereb~~ hacl mat~u•ei~ prior to its insti- tution. ThE mor•t~a~;r~r illill' f01'E'CIOSP this mc~?•tgagc~, :ts fo ti~e amount so c~eeiared ciue anc~ pa~~able, an~i thc~ saict pi•c~mi~r• sliatl tx~ ~olcl zo satisfy- and par~ the same together ~+•ith eosts, e~>>enses, and allo~~•anees. I~~ c~ se of ~a~•t~al t'~~rE~closure of this mortgage, the mortgagt~cl in•emises shali be sold subject to the con- tinuing lir~n c~f this mc~rtga~,r: for the ~ltli()llllt Ot tIl( ~i~bt not the» clue anci unpaid. In sueh ease the pro- ~'!SI()113 C)t t~11S }>ilYii~l'F1j7I1 Ill~i}' ~if;c'~111 ~P S~'ili~E~ci of ti~i•nafter from fti11(' t(t tllTlE' ~)t' t}it 1YtOt'tg'c'?$'E't. 10. That the nu~rtg~igur ~~~ill gi~•e imm~~ciiate »otiec~ t,~.~ mail tc~ tl~~~ rnc~?•tga~;ec~ of an~• ron~~e~~anee, t~•a~isfer, or cliange c~f o~~~~iership of ttie p~•cntist~s. 11. That no ~~~ai~~er ~,f .in~• cc~~~enant herein c~r of the ol~li~atic~r~ seeut•eci }yereb~• shall at anti~ time the~~eafter be held te, E~e a N~ai~•er ~~f the terms hereof or of the n~~te securec~ herebv. !2. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may ~erfurm the same, and all expenditures (including reasonable attor- ne~•'s fees) made by the mortgagee in so d~~ing sha11 ciraw• interest at. the rate sek forth in the note secured herel~y, and shall be repa~•able immediately and u~ithot~t demand b~• the rnortgagor to ~he mortg~ge~, and, together with inter~est and costs accruing thereo~, shali l~e secured by this mortgag~. } ~3. That the mailin~ of a u•ritten notice or demand addressed to the owner of record of the mortgaged ~ pY'emises, ar directed to the said o~+~ner at the last acidress ar_tuailr furnished to the mortgagee, ar directed t~ saic~ ow•ner at said r:ic~rtgaged premises, and maileci by~ the L'nited States mails, sha11 }~e sLt~icient notice and d~mand in any case ari~ing under this instrument and rec~uired b}• the proz~isions hereaf or Uy 1aw. 14. The mortgagor covenants and agrees tnat so long as this mortgage and the s3id note sec~ared heret~~- are ir.sui•ed under the proti•isions of ttle ti'ational Idousin~ A,ct,'h~ will not. ewecute or file for recr~rd any instrunzen± w•hich im~oses a restriction upon the sale or occupa~cy of tne mortgaged propert,y on the basis of e•ace, color, or creed. Upun any~ ~•iolation of this undert:~king, the mor•tgagee may, at its option, declare the unpaid i~~~Iance of tiie detJt secured hereby immediatel~~ due s.nd ~~ayable. sa~~ ~