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Home My WebLink About0543 ~ ~ fines~ or impositions, for which provisian has not been made hereinbefore~ and in default thereof the mort- gag+ee may pay the sxme; and that he will pramptly deliver th~ of~'icial receipts therefor to the mortgagee. S. That he will permit, commit, or aufter no waste~ impairment, or deterioration of said propert~~ or ar~y part thereol; snd in the event of the failure of the mortgagor to keep the buildings on said premises and those to be erected on said premises~ ar improvementa thereon, in good repair, the mortgagee may make auch repairs as in ita diecretion it may deem necessary far the praper preservation thereof, and the full amount of each and every such payment shall be immediately due and payable, and shall be secured by the lien of this mortgage. 6. That he will pay all ~nd singular the costs, charges, and expenses, including reasonable laH•yer's feea, and coats of abstracts of title, incurred or paid at any time by the mortgagee because of the failure on the part oi the mortgagor promptly and fully to perform the agreements and co~enants of said prom- issory note and this mortgage, and said costs~ charge~s, and expenses shall be immediately due and pay- able and ahall be secured by the lien of this mortgage. 7. Z'hat he will keep the improvements now existing or hereafter erected on the mortgaged property, insured aa may be required from time to time by the mortgagee against loss by fire and other hazards, casualtiea~ and contingencies in such amounta and for such periods as may be required by mortgagee, and will pay promptly, when due, any premiums on such insurance for payment of ti•hich pro~•ision has nat b~e~en made hereinbefore. All insurance shall be carried in companies appro~•ed by mnrtgagee and the policieg and renewals thereof shall be held by mortgagee and have attached thereto loss payable clausea in favor of and in form acceptabie to the martgagee. In event of loss he will give immediate n4tice by mail to mortgagee, and mortgag~e may make proof of loss if not made promptly by mortgagor, and each insurance campany concerned is hereby authorized and directed ta rnake payment for such loss directly to mortgagee instead of ta mortgagor and mortgagee jointiy, and the insurance proceeds, or any part thereof, msy be appiied by mortgagee at its option either to the reduction of the indebtedness hereby secnred or to the restaration ar repair of the property damaged. In event of foreclosure 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 Lhen in force shali 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 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 which, it being expressly unde~•- stood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof, and such rgceiver shall have ail the broad and ef~ective functions anci powers in anyw•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 mortgago~ or the defendants, and that such rents, profits, income, issuea, and revenues shall be applied by such recei~•er according to the lien of this mortgage and the practice of such court. Itt the event of any default on the part of the mortgagor hereunder, the martgagor agrees to pay to the mortgagee c:~ demand as a reason- abte monthly rental far the premises an amount at least equivalent to one-tw•elfth of the aggregate of the twelve monthly installments payable in the then current year plus the actual amount of the annual taxes aasessments, water rates, and insurance premiums for such year not co~~ered by the aforesaid mont~iy payments. 9. That iii the e~~eiit of ang• breach of this mortgage oi• clefai~lt wi the }~art of the mortgagor, oi• tl,) in the event that ~n~~ of saicl sums of mone~• hercin ~•eferred to be not promptl~~ and full~~ paid ~~~ith- out ciemand or itatict~, or (c) in the e~•ent that eacli and e~~er~• the sti~~ulations, agreements, conditions, and co~~enai~ts of said note aYid this mortgage, a~•e not dtily, ~~rumptly, and fc~ll~ performecl; then in eifher or aii~~ sucl~ t~~~ent, tl~e said aggreg~~tt~ st~m mentioi~ed in saisi iiute tiien rrmaining uupaid, ~~~ith interest acc~•ued to that time, and all mone~~s secured hereby, shall become due and payable forth«•ith, or thereafter, at the optia~i uf said tnortgagee, as full~~ and complet~l~~ as if a11 of the said sums of moner ~~~ere oi•ginall~• stiptilated to be paid o~i such day, ant•thitig in said note oi• in this mot•tgage to the coliti•ar~~ nat«~ithstanciing; anci thc~rt~ut~on o2• thereafte~•, at the option of said mortgagee, ~~•ithout notice or demand, suit at la~~• or in equit}~, ma~~ be proseeutecl as if all mo~ie~-s secureci hereb~- had maturecl prior to its insLi- tution. The mortg~gee n~a~~ foreclose this mortgage, as to ti~e amount so rieclared due and payable, and tlic~ saict pi•emises si:alt be solct to satisfs• and pa~• the same tagethez• a~ith eosts, espenses, ancl aUo~~•ances. ln ease af partia] fui•eclost~re of thi~ mo~•tgage, the mortgaged premises shall be sold ~ubject to the con- - iinuing lien of t}iis mortgage for the ~mount of the clebt not then due anci unpaid. In such case the pro- ~~isions of this paragi•aph ma~• again be ati•aited of tliereaftei• fi•om time to time b~~ the mortgageE~. 10. That the mortgago?• ~~•il! gi~•e immediate notice b~• mail to the moi•tga~e~~ vf an~• con~•e~•ance, transfer, or change of u~rnership of the preinises. 11. That no w•ai~~er of any co~•enant herein or of the obligati~n secureci herek~y shall at any time thereafter be hetd to be a u~aiver of the terms hereof or of the note secured IZere~y. 12. That if t~ie mortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may l~erform the sam~, and ail expenditures (including reasonable 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 with~ut demand by the rnortgagor to the mortgagee, and, together with interest and costs a.ccruing thereon, shall be secured by this mortgage. 13. That the mailing of 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 rrtortgagee, 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 instrurr~ent and required by the provisions hereof or by law. 14. The mortgagor covenants and agrees that so long. as this mortgage and the said note secured hereby are insured under the provisions of the National Housing Act, he will not execute or file for record any instrumen~, whic~},,i,~~po$es. ~.xes~tic~io~,~u~A~;the,~le or~cc. y:~f.k{teymo~tg~g~~roperty on the basis of race, ~olor, oti~c4~eed: ~~b'rt'~ii'~~Vibt~'tfb~ 6f tRis undert~ i~ng`, f.he mortg'agee may, at its option, dectare the unpaid batance of the debt secured hereby immediately due and payable. ;.Y1~ s;rF-;: =;r. ,r.~ ~j BQQK~~J