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Home My WebLink About0153 ~ • fine~, or impositions. for which provision has not been made hereinbefore, a~d in detault thereof the mort- ~sgee m~,y pay the aame;8nd that he will prnmptly deliver the ot~'icial receipta therefor to the mortgagEe. . b. That he will permit. cornnxit~ or sufiEer no waate, impsirniaent, or deterioratian of said propert~: or any part thereof; and in the event of the fxilure of the mortgagor to,keep the buildings on said premises s,nd thoee to be erected on aaid premises~ or impmvementa? thereon, in good repair, the mortgagee may mrke such reps?ira aa in ita discretion it may deem neceasary for the proper preservation thereof, and the fuU amount of each and every auch payment ahall be immediately due and payable, and shall be secured by the lien nf this mortga~e. 6. That he will paY sll and singular the coats~ charges, and expenses, including reasonable law•yer's feea, and costa of abatracta of title~ incurred or paid at any time by the mortgagee because af the failure on the part of the mortgagor promptly and fully to perform th~ agreements and covenants of said prom- issory note and this mortgage, and said costa, charges, and expenses shall be immediately due and pay- able and shall be aecured by the lien of this mortgt?ge. 7. ThAt he will keep the improvements now exiating or hereafter erectecl on the mortgaged propert~•, insured aa may be required fronn time to time by the mortgagee against loss by fire and other hazards, casualties. and contingenc;es in such amounta and for such periods as may be required by mortgag~e. and will pay promptly. when due, any pzemiums on such insurante for payment of which provisian has not been made hereinbefore. All insurance shall be carried in companies approved by mortgagee and . the policies and renewals thereof shsll be held by mortgagee and have attached thereta loss pa~•able clauses in favor of an~i in form acceptable to the mortgagee. In event of loss he K ili gi~•e immediate notice by mail to mortgagee~ and mortgagee rraay make proof of loss if not made promptly by mortgagor, and each ir?surance company concerned is hereby authorized and directed to make payment for such loss d;reetly to martgagee instead of to mortgagor and rnortgagee 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 praperty damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishrnent of the indebtedness secured hereby~ all right, title, and interest of the mortgagor in and t~ any insurance policies then in force shall 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 for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered hereby sll and singular, including all and singular the income. proFts, issues, and revenues fram whatever source derived, each and every of which, it being expressly under- stood, is hereby martgaged 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~~wise entrusted by a court to a receiver, and such appaintment shall be made by such court as an admitted equity and a matter of absoiute right to said mortgagee, and without reference to the a?dequacy or inad- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendanta~ and that such rents, profits, income, issues~ and revenues shall be appl~ed by such recei~~er according to the lien of this mortgage and the practice of such court. Tn the event of any default on the part of ths mortgagor hereunder, t~~e mortgagor agrees to pay to the rnortgagee c~ demand as a reason- able monthly rental for the premises an amount at least equ~valent to one-twelfth (!12) of the aggregate of the twelve monthly instalknents payable 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 payments. 9. That (a) i~7 the e~~e»t of a~i~• bi•each of this moi~tgage or ~lefauit un t{ie part of the mortgagor, or ( b) in the e~•ent that an~- of said sums of mone~~ herein referred to be not promptly and fully paid i~~ith- out demand or ~iotice, oi• (c) iii t}ie e~~ent that eacli and e~~e~•y the stipulations, agreements, eonditions, xnd co~~enants of s~iid note a~id this mo?•tgage, a?•e not duly, ~~rumptl~~, ancl full~• pei.formeti ; tlien in eithei• ol• an~• surh e~~~ ~it, tl~e said aggregate sum mentioned in saicl ~?ote the» >•~main~ng unpaid, ~~•ith interest accrued to that time, and all mone~~s secured hereby, shall become due and payable forth~~•ith, oi• thereaftei•, at the optioi? uf said moi•tgagee, as full~• and completel~~ as if all of' the saic~ sums of mone~• i~•e2~e orginall~• stipulated to Ue paid on such cia~~, an~•thing in saicl note oi• in this mot•tgage to the cbntrai•y~ ~ not~~-ithstanding; and the2•eupuu oi• the?•eaftei•, at the option of said moi•tgagee, «•itho~~t notice oi• demand, suit at la~~• oi• in ~eqititt~, ma~~ be pi•osecuted as if all mone~•s secui•ed hereby had matui•ed prior to its insti- tution. The mortg~gee may~ foreclose this mortgage, zs to the amount so cieclared due and payable, and t}ie said premises shall be sold to satisfy and pati• the same togethei• ~~~ith costs, eYpenses, and alle~~•ances. ln case of partial foreclosuz•e of this rnortgage, the mortgagecl premises shali be sold subject to the con- tittuing lien of this mortgage for the amount of the ~lebt not then duc.~ ancl i~npxid. !n such case the pro- ~•isions of this pai•agi~aph ma}• again be a~~aileci of tlaei•eaftei• f~•om time to time b,r• the mortgagee. 10. That the mortgag~~r ~~•ill give irnmediate notice b~- mail to the mortgagee of any com•e.r•ance, trayisfer,~oi• change of o~~~nei•ship of the pi•emises. 11. That r.o ~ti•ai~•er of any co~•enant herein or of the obligation secured hereby shall at any time thereafter be held to l~e a~saiti-er of the terms hereof or of the note secured hereb,y. 12. That if the mortgagar default in any of the covenants or agreernents contained herein, or in said note, then the mortgagee may pErform the same, and all expenditures (including reas~nable attor- 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 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 r,f a written notice or demand addressed to the owner of record of the mortgaged premises, or directed to the said owner at the last address actually furnished to the mortgagee, or directed to said ow-ner at said mortgaged premises, and mailed by the United States mails, shall be safficient notice ' and demand in any case arising under this instrument and required by the provisions hereof or by law. 14. The mortgagor cavenants anc~ agrees that. so long as this mortgage and the said note secured hereby are ins::red under the pravisions of the National ~iousing Act, he will not execute or file for record any instrument which imposes a restriction upon the sale or occupancy of tne mortgaged property un the basis of race, color, or creed. Upon any violation of this undert~king, the mortgagee may, at its option, declat•e the unpaid balance of the debt secured hereby immediatety due and payable. - s~a~123 ~.~1