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Home My WebLink About0080 , ~ ' . . Rnea~ or impoaitiona, fur which proviaion has not beea msde hereinbefore, and in default thereof the mort-• ~s~e may ~sy the aume; and ths~t he will promptly deliver the o~cial receipta therefor to the mortgagee. b. That he will permit, commit~ or sufCer no wa?ate, impairment~ or deterioration of said property or u~,y part th~reof; and in the event of the failure of the mortQa~or to keep the buildings nn aaid premises r and those Lo be erected on sa~id premieep~ ar improvements thereon. in gvod repair, the mortgagee may ~ mi?ke such repttira aa in ita diacretion it may deem neceasary for the proper preservatian thereof, and the full amount oi ea~ch and every such payment shall be immediately due and payable, and shall be secured by the lien of this mort~a~e. ~ 6. That he will pay ~iil and aing-alar the coata, charges, and expenaes, including reasonable l8K•yer's ieea, and costs of abstracta of title, incurred or paid s?t any time by the mortgagee because of the failure on the put of the mort~agor promptly and fully to perfotzn the agreements and co~ enants of said prom- issory note und thia mort~age, and said costa~ charge~, and expenses ahall be immediately due and pay- able and shall be aecured by the lien uf this raortgage. 7. Tlist he will keep the improvementa now exiating or heresfter erected on the mortgaged property~ insared as msy be required from time to time by the mortgagee against loss by fire and other hazards, easualtiea. and eontingencies in such amounts and for such peric~ds as may be required by mortgagee, and will pay promptIyi when due, any premiums an such inaurance for payment of ~•hich provision has itot been msde hereinbefore. All insurance shall be carried ia compani~s approved by mortgagee and the policiea and renewala thereof shaA be held by rnortgagee and have attached thereto loss pa~•able clausea in favor of and in form acceptable to the mortg~gee. In event of loss he will give irr~mediate notice by mail to mortgagee, and rnortgagee may make proof of lass if not made promptly by mortgagor, and each insurance company concerned is hereby authorized and directec3 to mske payment for sach losa directly to mortgag~ :astead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, msy be ~pplied by mortgagee at it$ option either to the reduction of the indebtedness hereby ~ecured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage or other tranafrr of title to the mortgaged property in extinguishmPnt of the indebtedness s~eured hereby. ail right~ title, and interest of the mortgagor in and to any insurance policies then in force ahall pass to the purchaser or ~rantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, apply to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forthw•ith appoint a receiver af the prEmises covered hereby all and aingular, including all and singular the income, profits, issues, and revenues from whatever source derived, each and every of which, it being expressly under- - stood, is hereby mortgage~ as if speCifically set forth and described in the granting and habendum clauses her~of, and such receivcr shall hav~ all the broad and effective fnnctions and powers in anyK•ise entrusted by a court to a receiver, and such appointment ahaU 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- equ~cy qf the value of the property mortgaged or to the solvency or insolvei~cy of said mortgagor or the defendanta, 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 event of any default 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 ane-twelfth (i;2) of the aggregate of the twelve rnonthly installments payable in the then current year plus the actual amount of the annual taxe8 aqsessments, water rates, and insurance prerniums for such year naL corered by the aforesaid mont~ilY paYmenta. 9. That (u) in the e~•ent of any breach of this mortgage or ~lefauit on the part of the mortgagor, or ( b) in the event that ~tu~• of said sums of money herein t•eferred to be r,ot promptly and fully paid «~ith- aut demand or notice, ar (c) in the e~~ent that each and e~~er~~ the stipulations, agreements, conditions, and CO\'C'i1Ri1tS Of said note and this mortgage, a~•e not duiy, promptty, and full~~ performed; then in eithe?• oi• a»~- stich e~~ent, the saicl aggregate sum m~ntioned in saici uote tiieii ~~~tnaining unpaid, «•ith interest accru?d to that time, and alt mone~•s secui•ed hei•eby, shall l~ecome due and pay~able forth«~ith, oi• thei•eai'tei•, at the optio~~ of said moi•tgagee, as full~• 1nd compl~~tely as if all of the said sums of mone~• ~~~ere orginall~• stipulated to be paid on such day, an5•thing in saic~ i~ote oz~ in this moi•tgage to the contrai~y~ nc~t.~~ithstanding; and thereupo~~ or thereafter, at the option of said mortgagee, «•ithout notice or demand, SLlit 1t I~~~' Ol• iii equit>~, may be prosecuteci as if all moneys secui•eti hee•eb~~ had matui•ed pi•ior to its insti- tution. The mortgagee ma~• foreclose this mortgage, as to the amount so declared due and ~ayable, and the said premises shali be sold to satisfy and pa~• the same together ~~-ith casts, expenses, and allo~ti•ances. Iii case of partial foi•ecl~sure of this mortgage, the mo~ tgagecl. premises shall be solc~ subject to the con- tinuing lier, of this mortgagE~ for the amount of the clebt not then du~.~ anci unpaid. ln such case the pro- ~•isions of this paragraph ma~- again be a~•ailed of thereafLer from time to time b~• the mortgagee. 10. That thE mortgagor ~~•ill give immed'sate notice t;~• mail ta the mortga~ee of an~~ com•e~-ance, ti•ansfer, oi• chang~ of o~~•ne?•ship of the pi•emises. 11. That no ~~ai~~er of any co~~enant herein or of the obliga#ion secureci hereby s}iall at any time thei~eafter lie held to be a w•aiver of the terms hei•eof or of the note secui•ed iiereb~~. 12. That if the mortgagor default in any of th~ covenants or agreements contained herein, or in said note, then the mortgagee may perform the same, and all expenditures (including reasonable attar- ney's fees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured - hereby, and shall be repayable immediately and w~ithout demand by the mortgagor to the mortgagee, and, together with interest and costs aceruing thereon, shall be secured by this mortgage. 13. That the rnailing of a written notice or demand addres~ed to the owner of record of tne mortgaged premises, or directed to the said owner at the last address actually furnished to the mortgagee, or directed to said owner at said mortgaged premises, and mailed by the United States mails, shall be sufficient notice ~ and demand in any case arising under this instrument and required by the provisions hereof or by law. 14. 'I'he mortgagor covenants and agrees that so long as this mortgage and the said note secured hereby are insured un~i er the p~uvisions af the National Housing Act, he will not execute or file for record any instrument whie}~ imposes a restriction upon the sale or occu~iancy of tne mortgaged property on the basis of race, color, or creed. Upon any v:olation of this undertaking, the mortgagee may, at its opti~n, declare the unpaid balance of the c~ebt secured hereby immediately due and payable. ~ d00K~ ~ . ,