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Home My WebLink About0659 T ~ , ~ ~ . _ ~ ~ flnea, or impositions~ for which provision haa not been made hereinbefore, and ia defautt thereof the mort- gagee may pay the same; and that he will prornptly deliver the officisl receipts therefor to the mortgagee. 5. That he wilt perrnit, commit, or suff~r no waste~ im}~sirment, or deterioration af said propert3• or any part thereof; and in the event of the fsilure of the mortgagor to keep the buildings on saiu premises and tho~e to be erected on aaid premises, or improvements thereon, in goad repair, the mortgagee may~ rnake such repaira as in its discretion it may deem necessary for the proper 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 m~rtgage. 6. That he will pay ail and singular the costs~ cttarges~ and expenses, including reasonable la~~•yer's fees~ and costs of abstracts of title, incurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly and fully to perform the agreements and co~•enants of said prom- issory note and this mortgage, and said costs, chargesy and expenses shall be immediately due and pay- ' able and shall be secured by the lien of this mortgage. 7. That he will keep the improvements now existing or hereafter erected on the mortgaged property~, insured as may be required from time to tirne by the mortgagee against loss by fire and other hazards, casualties, and contiagencies in sueh amounts and for such periods as may be required by mortgagee, and will pay promptly~ when due, any premiums on such insurance for payment of H~hich pro~•ision has , not been made hereinbefore. All insurance shall be carried in companies approt•ed by~ mortgagee ancl ~ the policies and renewals thereof shall be held by mortgagee and have attached thereto loss pa~~able elauses in favor of and in form acceptable to the mortgagee. In event of loss he will gi~•e immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagoi•, and pach insurance company concerned is hereby autharized and directed to make payment for such lnss direetly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance prc>ceeds, or any part Lhereof, 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 property damaged. In e~~ent of foreclosure of this mortgage or other tranafer 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 insur, nce 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 jurasdiction thereof for the appointment of a receiver, and such court shall forth~•ith appoint a receiver of the premises covered hereby all and singutar, ineluding a11 and singuiar the income, profits, issues, and revenues frorn whatever saurce derived, each and eti~ery of which, it being expressly under- sto~d, 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~•~•ise I entrusted by a court to a receiver, and such appaintment shall be made by such caurt as an admi±ted ; equity and a matter Qf sbsolute right to said mortgagee, and without reference to the adequacy or inaci- ! equacy of the value of the property mortgaged or to the solvency or insol~•ency of said mortgagor or the defendants, and that such rents, profits, income, issues, and revenues shall be applied by such receirer ~ according to the Iien of this mortgage and the practice of such court. In the e~•ent of any default on the E part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee cn demand as a reason- ~ able monthly rental for the premises an amount at least equi~alent to one-t~~elfth of the aggi•egate of the twelve monthly installments payable in the then currenE year plus the actual amaunt of the annual i. taxe~ assessments, water rates, and insuran~ce premiums for s~ch year not co~•ered by the aforesaid ~ mont~ly paymen±s. i 9. That (a) i~~ the e~~e~yt of ~in~• breach uf this rnoi~tg~ige or ~l~fault uYi the~~ai•t c~f the moi•tgagor, oi• : ( b) i~i the e~•ent th~it an~~ uf said sums of mot~e~- hei•cin i•efer?•ed to be iiot prumptl~• and full~• paid ~~~itt~- ~ out dcma»d or notic~~, or i~t thc~ t~~et~t that earh and e~•e~•~• the sfi~~ulatinns, agreements, caiditions, ! illl(~ co~•enants of saici ~iotr and tlfis mortgag~, are nc~t clt~l~', t~re~mptl~-, zz~~d f'i~)lr perio~•med; tn~n in ~ eith~~r of• an~- ~t~ri~ c•~~t~nt, :hf~ saici aggs~E~~ate sum n~~~i~tioned iii saicl n~,te the~i r~~maining wtpaid, ~~•it}i ~ iiltc~i•c~st ~cci•ued tu that timt~, a?id a!1 munE>}•s seeutc•,i hc~reb~', shall t~ecome clue an<i pa~~able foi•th~ti•ith, ~~r therrr?ttt~i•, ,it the u~~tirn? uf sa'sei mc~rtgagee, as ful[~~ ~lnd eomplet~~l~- ~s if atl ~~f the saic~ sums of moifer i ~~'t~i•e u?•gi~ialit• sti~~tilated t~ be paid on such ciat~, St)t't~llllg' itt S~ll(I l1t)tE' u~• in this moi•tgage to the co~~trai•~~ ~ not~~•ithstandin ~ , ~I g; xnci thc~~•c~u~aon or thci e.after, at the option of saici mortgagee, ~~~itnout notice or demand, suit at la~~• o?• in equit~•, ma~~ be pi~osecute~i as if all mo~:e~•s ~ecured }iereb~• had matureci pi•ioi• to its insti- ` tution. The mortgagee ma~~ foi•crluse this mortgage, as to tiie amount so c~ec[at~ed due and payabte, and thEr s~U(~ j)i'C'[111~E'~ sh~iil bc~ solct to satisf~• and ~~ai~ the same toge~ther ~~~ith eosts, expe~nses, ancl allo~ti~anees. ln case o f part;a l f~~re~closur~~ of this mortgage, the mort~age~l premises shall he sol~ subject to the con- , tinuit~g liei~ r~f this moi•tgage fo~• tlie amaunt of t}7e clebt not ihe» ciut~ anci unp~iid. ln sur~h case the pro- i ~~isio~ls uf this pai•agi~apl~ ma~~ again be a~~ail~cl of tiiereaft~r from time t~~ time b~~ the mortgagee. 10. Tflat the murtgag~;?• ~~~ill gi~~e immediate noticc~ b~- maii tc; !he~ mot•tga~ec~ c~i an}- co?i~~e~~ance, ~ tr~~i~sfer, or change ~,f c;~t-nership of the premises. i 11. That nu w~ai~~er e~f ~tny c~,~~enant herein uf• of tlie at~li~ation s~~c~~rec~ herehy si~all at an~' time j tliel•eafter l~e heici t<~ j~e a~.~ai~-er• of the terms hereof or uf tl~e nute secu~•ed herel~~~. ~ 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 attor- ne~•'s fee~) made by the mortgagee in so doing shall draw~ interest at the rate set forth in the note secured ~ hereby, and shail 1>e repayable immediately- and w~ithout demand by~ the mortgagor to the mortgagee, and, together with interest and costs accruing thereon, shall Ue secured by this mortgage. ( 13. That the mailing of a written notice or demand addressed to the owner of record of the mortgaged ~ i premises, or directed to the said ow~ner at the la~t address actually furnished to the mortgagee, or directed ~ ~ to said ow~ner at said mortgaged premises, and mailed by the United States maits, shail be s?:fiicient notice ~ and demand in any case arising under this instrument and required by the pro~~isions hereof ar by law. i 14. The mortgagor co~•enants and agrees that so tong as this mortgage and the said note secured h~reby are insured under the prorisions of the tiational Iir~using Act, }te ~~ili not Pxecute or file for record ~ an~~ instrument which imposes a restriction upon the sale ar ofcupancy of tne mortgaged pi•operty on the j basis of i•ace, color, ur creed. Upon any violation of this undertaking, the mort~agee mav, at its option, declare the unpaici i~atan~e of the ciebt secured hereby immediately due and payable. ~ ~f ~ I G R 5.7. ~ BOOK , . , _ -