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Home My WebLink About0092 ~i F ~ ~ iinea, or impcucirions~ for which provisian has not been made hereinbefore, and in default thereof the mort- gag~ee may psy tlie same; and that he wili promptly deliver the official receipts therefor to the mortgagee. ' b. That he will permit~ commit, ar suffer no waste, impairment~ or deterioration of said property_ or i any paxt thereof ; and in the event of the failure of the mortgagor to keep the buildings on sa~d prem~ses and thoae to be erected on said premiaea. or improvements thereon~ in good repair, the mortgagee may° make such repairs as9tt in its discretion it msy deem necessary for the proper preservation thereof, and the a full amount of each and every such payment shall be immedistely due and payabie, and st~all be securecl by the lien of this mortgage. 6. That he will pay all and singular the costs~ charges, and expenses, including reasonable laN•yer's feea, and costs of abstracts of title, incurred or paid at any time by the cnortgagee because of the failure on the part of the mortgag~ promptly and fully to perfarm the agreements and co~•eAants of said prom- issory nate and this mortg e, and said costs, charges~ and exper~ses ahall be immediately due and pay- able and ahall be secured by the lien of this mortgage. 7. That he wall keep the improvements now existing ~r hereafter erected on the mortgaged propert~•~ insured ss may be required from time to time by the mortgagee against loss by fire and other hazards, casualties, xnd contingencies in such amounts and for such periods as may be re~quired by mortgagee, and will pay promptly, when due, any premiums on such ins~urance for pay~ment of ~~•hich pro~•ision has not be~n 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 thereto loss pa~~able clauses in favor of and in form acceptable to the mor~gagee. In event of loss he w•ill gi~•e in:mediate notice by maii ~co mortgagee~ and mortgaqee may make pro~ef loss if not made promptly by mortgagor, and each insurance company concerned is hereby suthorized and directed to make payment for 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 restorxtion ar repair of the property damaged.~ In event of foreclosui•e of this tx~ortgage or other tr~nsfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, alt right, title, and interest of the mortgagor in and to any insurance policies then in force shall pass to the purchaser or graatee. 8. That the mortgagee may~ at any time pending a suit upon this mortgage, appl~• to the court hav- :ng jurisdiction thereof for the appointment of a receiver, and such court shall forthH•ith appoint a receiver of the premises cov~ered hereby all and singular, 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 mortgaged as if specifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effective functions and powers in an~•w•ise entrusted by a court to a receiver, and such appointment 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 or to the solvency or insol~•ency of said mortgagor or the ~efendants. and that such rents, profits, income, issues~ and revenues shail be a~plied by such recei~•er according to the lien of this mortgage and the practize 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 a reason- able monthly rental for the premises an amount at least equivalent to one-twelfth (!12) of the aggi•egate of the twelve monthly instaliments payable in the then current year plus the actual amount of the annual tax2s assessments, water rates, and insurance premiuma for such year not co~•ered by the aforesaid mont~ly payments. 9. That (a) in the e~~ent of anr breaeh of this mortgag~ or clefault un the part of the mortgagor, or ( b) i?i the e~•ent that ai~~• of said sums of mot~e~• herein refe?•red to be not prc~mptl~• anc~ full~• paid ~~~ith- utit demand or notice, oi• (c) in t}ie E~•ent that eacli and e~•e~•~• the stipulations, agreements, conditions, ~incl co:~enants of said notE~ a?id this moi•tgagE~, ai•e ?iot dui~~, pi•umptl~•, anci full~• perforrned; then in - t~ithei• or ~~~i~• such t~~~e~it, tlie said aggregate sum m~~~itioiied iu saicl »ote th~~n rrinaining uiipaid, ~~~ith interest acc•riied to that time, and all mone~•s secured hei•eby, shall become due and pa~~able forthu•ith, oi• thei•ea!'ter, ~it the optioi~ uf saicl mortgagee, as fullr aend campletf~l~~ as if all ~~f the saici st~ms of mone~• ~~~~~re orginall~• stipulated to l~e paid on such day, an~'thing in saici note or in this mortgage to the co»trar~~ iiuh~~ithsta~iding ; a~id therc~upoii oi• the~•eaftei•, at the optiott of said mortgagee, ~~~ithout notice or demand, suit at la~~• or iu equit~~, ma~• be prosecutecl as if all mone~-s secw'ed hereb~~ had matu~•ed prior to its insti- tution. The mortgagee nis; fo~•eclose this mortgage, as to t12e amount so declared due and payable, ancl the said premises shall bc~ soid to satisfy and pa;• the same togethei• ~~•ith costs, e~penses, and allo«•ances. In case of pai•tiai fu~•eclost~i•e of this moi•tgage, the mo?•tgagecl pi•emises shall be sold subject ~o the con- tinuing lien of this mortgage for the amount of the clebt not then due arici unpaid. In such case the pa~o- ~-isions of this paragraph ma~• again be a~•aileci of thc~reafter from time to time b~• the mortgagee. 10. That the mortgag~n• ~~-ill gi~•e imme~iiate notice b~~ rnail tc~ the mortgagee of an~- com•e~•ance, t?•ansfei•, or change of a~~~ne~~ship of the premises. 11. That no w~ai~'er ~}f any co~-enant herein o~~ of the obligation secui•eci Itereby shall at any time tliereafter be held to 1~e a H'ai~~er oi the terms hei•eof or of the note secured hereb~•. 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, and all expenditures (including reasonable attur- ne~•'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 without demand by the mortgagor to the mortgagee, and, together with interest and costs accruing thereon, shall be secured by this mortgage. 13. That the mailing of a written notice or dematid addressed to the owner af record of the mortgaged ' prernises, or directed to the said ow~ner at the last address actually- furnished to the rnortgagee, ar directed i to said o~•n~r at said mortgaged premises, and mailed by the L'nited 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. The mortgagor cor•enants and agrees that so ]ong as this mortgage and the said note secured hereby are iiisured under the provisions of the National ~iousing Act, he will not execu~e or file for record any instrument which impases a restriction upon the sale or occupancy of tne rnortgaged property on the basis of race, color, or creed. Upon any violation of this undertaking, the mortgagee ~nay, at its option, declare the unpaid balance of the debt secured hereby irnmediatel~• due and payable. BOa#( ~ W