The URL can be used to link to this page

Home My WebLink About2832 fines, or impositions, for which pro~•ision has not been made hereinbefore, and in default thereof the mort- gagee may pay the same; and that he will prornptly deliver the ot'Ficial receipts therefor to the mortgagee. 5. That he will permit, commit, or suffer no waste~ im}~airment, or deterioration of said propert~• or any part thereof ; and in the e~~ent of the failure of the mortgagor to keep the buildings on said premises snd thoae to be erected on said premises, or improvements thereon, in good repair, the mortgagee ma~• make such repairs as in its discretion it may deem necessary for the proper preservation thereof, and thQ full arnount of each and e~~ery such payment shall b.~ immediately due and payable, and shali be secured by the lien of this mortgage. 6. That he will pay all 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 failui•e 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 casts, 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 mortgagE~d propert>•, insured ~ may t>e required from time to time Uy the mortgagee against loss b~• fire and other hazards, casualties, and contingencies in such arnounts and for such periods as rnay b~ re~uired by mortgagee, and will pay promptly, when due, any premiums on such insurance for pa~•ment of H•hich pro~•ision has not been made hereinbefore. All insurance shall be carried in companies appro~•ed by mortgagee and the policiea and renewals thereof shall be held by mortgagee and ha~~e attacheci thereto loss ~a~•able clauses in favor of and in form acceptable to the mortgagee. In event of loss he ~~•ill gi~•e immediate notice by mail to mortgagee, and mortgagee may make proof of toss if not made promptl~~ by mortgagor, and each insurance company concerned is hereby authorized and directed to make pa~•ment foi• 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 indebtedness hereby secured or to the restoration or repair of the property damaged. ln e~~ent of foreclosui•e 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 to any~ insurance policies then in force sh~il pass to the purchaser or grantee. S. That the mortgagee may, at any time pending a suit upon this mo: tg~ge, appl~° to the court ha~~- ing jurisdiction thereof for the appointment of a receiver, and such court shall forthk~ith appoint a receiver of the premises covered hereby all and singular, including all and singular the income, profits, issues, and revenues from whatever source derived, each and every of w•hich, it being expressly under- stood, is hereby mortgaged as if specifically set forth and described in tha grantit~g and habendum clauses hereof, and such receiver shall have ail the broad and effecti~e functions and po~~ers in an}•~4•ise entrusted by a court to a receiver, and such app~intment 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 o: to the solvency or insol~•ency of said mortgagor or the defendants, and that such rents, profits, in~ome, issues, and revenu~s shall be appiied 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 c~ demand as reason- able monthly rental for the premises an amount at least equivalent to one-twelfth (!;a} of the aggregate of the twelve monthly installments pay~able in the then current year plus the actual amount of the annual taxes assessments, water rates, and insurance premiums for such year not covered by the aforesaid mont~ly paymen~s. Tllilk (ri ~ in tizt~ ent c~f U~~r~~~C}1 Ut t~115 lll(~1'1f;agc c>r ~l~~f~~ult ~.ui tlu~ }~a?'t of the mortgagor, ur (1, ) in the e~~en't that an~~ uf saicl sums of mon~~~• i~errin referr~~cl to be nut ~~r~~m~tl~~ and full~~ paid ~~~ith- uut clem~.n~l ~_~i• notice~, o~• (r) iii tht~ ~~~~t=nt that E~acli and c~~~er~• thE~ stipulati~~ns, agi•eements, ~•ondition,, <ui~l rv~~~n~~~~ts ot ~aicl ne~tr~ a»~i ttiis mai•t~age, are not clu1~•, O!'uTllpl~\', ~incl fuli~~ ~~e?•fo~•mecl; tlten iii !'Itfil'1' t)l' illl\' til?C~1 t'\'l'tlt, C~ll' ~ill(~ R~R'l'l'~?iltf` ti11C11 Illt'11tlUlllf~ !11 Silll~ 11(1tl' t~it'il Yl']1lSllllil(yT UIl})~11C~~ \\'ltfl i~~tE~i•est arct•ueci t~~ that time. ~tnd alt mo~ic~}~s secuy•r-d hr~i•eby-, shall l~r~comt clue and pa~~able foi•th«~itti, tiit~t•eai'tc~i•, ~it th~~ optio~i t,f saicl ~noi•tgagee, as fuli}• and ~omplf~t~~l~~ as if ~il! uf thf~ said sums of rnoi~e~~ t~~•t~ ~,~•~;i11~ll1~' ti~.Ij111~~1L((I t0 ~)E' pzicl oii sucl~ da~~, an~'th.ll~ 111 Stll(~ il~~lE' Ol' ill i~115 ri101'tgage t0 t}l~ CU11[1'~il'~' 110(\l"It~l3[2~11(~111~; ; illl(~ t~ll'i'('lljlUll O!' t~ll'YE'1ftC'1', c'it t}'lE' option uf said mortg.l~PE', \\'It{IOUt IlOCICC O1' (IeISl311(~, su~t ~~f la~~~ u~• in equit~•, ma}~ !~e pruse~eut~>cl as if all mcn~e~~s seetu•~~cl hereb~• had niaturecl prior to its insti- tuti~~i~. ThE mortgag<<~ m~~~~ foreric~se this mortgage~, <is to the ameunt so <ieclared cjue anci pa~~able, and th~~ saicl ~~r~~rni::c~ shall bE~ solcl to satisf~• anci pa~~ the same tagethe~• ~~~ith costs, ext~enses, and allo«~ances. t» case oi~ Partial f~~r~~closure e~f ti?is moz~tg~~~e, the m~~•t~agc~~l ~:t'l'll]IS(•s shall be sold subject to the con- tinuin~ li~~n ~~f this moj•tga~,Ye fo~~ thE' itIllt)lillt Ot t~ll' ~iebt nc~t then clu~~ an~l iinpai~i. It~ such case the pro- ~~isions ~>f this ~aragraph ma~- again be <^.~~riilf~cl of th~~reaft~~r from time~ tc~ timc~ b~• the m~~rtgagee. 10. That th~~ illol't~:a~~»' ~~~ili gi~'E~ i~ntt~ecliate nc~tic~~ 1~~~ mail tii tht~ mui•tgaree~ r~f ~111' ('OIl\'E~~~ance, tr~?nsl'er. or change ~rf o~~~ne~•ship of the p~~c~misc•s. 11. That no ~sai~~er ~~f an~' cc~~'en~snt 1tE~t•ein ~~r ~f the ~~i~li~ation sE~curecl hereb~~ shall at any time tl~ereafter be helci tu he a«~ai~•er of the terms hereof or of t1~e note sec~.~reci hereh}•. 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, th~n the mortgagee may ~erform the same, and all expenditures (including reasonable attor- ne~•'s fees) mac~e by the moi•tgagee in so doing shall ciraw~ ?nterest at the rate set forth in the note seeured herei,~-, and shail Ue repa}•~ble immediatel~• and µ~ithuut demand by the mortgagor to the mortgagee, and, together with interest and costs accr~~ing thereon, sllall 1~e secured by this m~ortgage. 13. That the mailinq of a written notice or demand addressed to the owner of record of the mortgaged pi•emises, or c~irected to the said oH~r.er at the last address ~.ctually furnished to the mortgagee, or directed ~ to ~aicl u~i~ner at ~aid mc>rtgaged premises, and mailed h~- the United St.ites mails, shal! be sufficient notice and demand in an~• case at•isin~ t~nder this instrument and required b}• the pro~~isions hereof or by~ law. 1=4. The mortgagor co~•enants and agrees that so Iong a.s this mortgage and the said note secured hereby are insurQd un~~er the pros•isions of the tiational FIousin~ Act, he ~•ill not execute or file far record an~~ instrt~ment w~hich im~xrses a restrictic~n ui~on the sale or occupanc~• of tne mortgaged propert~~ on the hasis of race, color, or creed. L'I~on an~~ vio!atian of this undertaking, the mortgagee inay, at its option, declare the iinpaid b~lance of the ~ebt secured hereby immediately due and payable. °~R~ Z~? ~:9