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Home My WebLink About0565 r f _ . _ _ , E ~ • . ' • . J~ 'N~~ . " ~ ~ ~ • r,'~ -C.~ ~ 1in~. or impoaition5~ for which pmvision has not been msde hereinbeforc. and in de~ult thereoi the mort- ~ ~a~ee msy pay the ax~me; and thst he will promptly deliver tt?e oBcial receipta there~far to the mort~gee. ` 5. Thst he wiil permit, commit, or sulfer ao waste, impairment, or deteriorr?tion of said propert~• or , ~ aqy part therepi; and in the eveat of the faiture of tht mortga~or to keep the buildinga on said premisea : ti and thase to be erected on eaid premiaea, or improvements therc~n, in ~ood repair~ the mortgagee may make such rep~irs as in itt diacretiott it may dcem nec~wry for the proper preservation thereof, and the full ~?ount of euh ~nd every such pt~yment ahall be imtnediately due and payable, and shall be secured by the lien of this moxt~a~e. 6. That he will pay slt and singular the costa~ charges, and expensa, including reasonabie law y¢r'a ~ feee. and costa of Abetracta of title~ incurred or paid at sny time by the mortgagee because of the failure ~ on the part of the mortgaaor promptly and fully tn perform the agreementa and_covenants of said prom- iasory note and thia mort~ge, and aa?id coats~ chsrae~~ and expenses shnll be immediately due and pay- able and ehall be aecured by the lien of thia mort~a,~e. 7. That he will keep the improvements now exiating or hereatter erected on the mortgaged property, ~ insured ~a ms~y be required frnm time to time by the mortgag~ee a~sinst loss by fire and other hazards, • casualtiea~ and contingencies in auch amounts and for such periods ss may be t~equired by mortgagee, ~ ~ and will pay promptly. when due, any premiums on such insurance for payment of ~•hich pro~•ision has nat been made hereinDefore. All i~,surance shall be carried in campanies approved by mortgagee and • the policiea and renewals thereof shall be held by mortgag~e and have attached thereto loss payable clauses in favor of and in form acceptable to the mortgagee. In event of loss he wiU give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each inaurance company concerned is hereby authorized and direcLed to make payment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or anypa rt thereof, may be applied by mortga~e at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair af the property damaged. In event of foreclnsure af this morrtgage or other transfer of title to the mortgaged property in extinguishmpnt of the indebtedness secured herebq, all right, titie~ and interest of the mortgagor in and to any insurance policies then in force , - shall pass to the pnrchaser 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 all and singular~ including all and singular the incorne, profits, issues, and revenues from whatever sauree derived, each and every of which, it being expressly under- stood, is hereby mortgaged as if apeGifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad und effective functions and powers in anywise ~ entrusted by a court to a receiver~ and such appointment shall be made by such court as an admitted equity and a matter of abaolute right to said mortgagee, and without reference to the adequacy or inad- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the ~ defendants, and that such rents, profits, incame, issues, and revenues shall be applied by s~ch recei~•er ~ according to the lien nf this mortgage and the practice of such court. In the event of any default on the ~ part of the mortgagor hereunder~ the mortgagor agreea to pay ta the mortgagee a~ demand as a reason- ~ able monthl~ rental for the premises an amount at least equivalent to one-twelfth (!12) of the aggregate ~ of the tweive monthly installments payable in the then current year plus the actual amount of the annual ~ taxes asaessments, water rates, and inaurance premiums for such year not covered by the sforesaid , mont~lY PaYments. ~ 9. That (a) in the e~•ent of an~• Ureach of this mortgage or cli~fault on the part of the mortgagoi•, or ; 16) in thc e~•ent that au>~ of said sums of mone~• herein referred to be not promptly and fully paid ~~~ith- i out demand or uotice, or (c) in the event tt~at each and e~•er~~ the stipulations, agreements, conditions, ? aiid r~~•ena~its of said note and this rnortgage, ai•e not duly, pi•umptl~•, anci full}• perfoi•med ; then in ~ either or an~~ such e~•ent, lhe said aggregate sum m~~ntioned in saici notc t}1C11 r~~maining unpaid, ~~•ith interest accrued to that time, and all mone~•s secureci hereby, shall I~ecome due and payable forth~~•ith, oi• tiie~•e~ftei•, at the optio» uf saicl mot•tgagee, as fullt~ and cornpletely as if all of the said sums of mone~~ ~~•ei•e o~•ginail~- stipulated to 1>e paid an such day, an~•thing in said note oi• in this moi•tgage to the coiitrai•y~ ~iot~~•ithstanding; and thereupon or therE~after, at the option of said mortgagee, ~~-ithout notice or demand, suit at lan- or in equit~•, ma~• be prosecutect as if all m~ne~~s secured hereby had matured prior to its insti- tution. The moi•tgagee may foa•eclose this mortgage, zs to the amount so declai•ed due and payable, and the said premises shall be sold to satisfy and pa~~ the same together ~~•ith costs, expenses, and allo~~•ances. ' In case of partial forerlostu•e of this mortgage, the mortgaged premises shall be sold subject to the con- tinuing lien of this mortgage for the amount of the clebt not then due an~i unpaid. ln such case the pro- ~•isions of this paragi•aph ma~~ again be a~•ailed of thereaftei• fi•om time to time b~~ ±he mortgagee. 10. That the moi~tgagor i~-ill give immediate notice b~• maii to the moi•tgagee of an3• con~~eyance, transfer, or change of o~~~nership of the premises. 11. That no wai~•er of any co~•enant herein or of the obligation secured hereby shall at any-time thei•eafter be held to be a H•ai~•er of the terms hereof or of ti~e note secua•ed hereby. 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 attar- ne,v's fees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note sec;ured hereby, and shall be repayable immediately and without demand by the mortgagor to the mortgagee, and, together with interest and costs accruing thereon, shal! be secured by this mortgage. 13. That the mailing c,f a written notice or demand addressed to the owner of record af the mortgaged premises, or directed ta th~e said oµ~ner at the last address actually furnished to the mortgagee, ar 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. The rnortgagor covenants ar.,: agrees that so long as this mortgage and the said note secured hereby are insured under the pruvisions of the National Housing Act, he will not execute or file for record any instrument which imposes a restriction upon the sale or occupancy of ti~e mortgaged property on the basis of race, color, or creed. Upon any violation of this undea-txking, the mortgagee rnay, at its option, declare the ~npaid balance of the debt secured hereby immediately due and payable. ~ aaoK 1.~~ goaK123 ~ 5~ ~ . ~ . _ . _ ~ -