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Home My WebLink About0664 t •r ~ t fines, or impositions~ for which provisinn has not been made hereinbefore, and in default th~reof the m~rt- gag+ce may psy the same ; and that he will promptly deliver the officiat receipts thcrefor to the murigagee. 5. That he will permit, commit~ or suffer no waste~ impairment, or d~terioration af said property or any part thereof; and in the e~ent of the failure af the martgagor to keep the buildings on said premises and thaae to be erected on said premises, or improvements thereon~ in good repair, the mortgagee may make such repairs as in its discretion it may deem necesaary for the proper preservation thereof, and the full amount of each and every such payment shall be im~nediately due and payable, and shatl be secured by the lien of this mortgage. 6. That he w ill pay all and singular the costs, charges, and expenses, inzluding reasonable lawyer's fees, and costs of abstracts o. Litle, incurred or paid at ~ny 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, charges, and expenses shall be immediately due and pay- ' able and ahall be secured by the lien of this mortgage. z 'That he will keep the improvements now existing or heresfter erected on the mortgaged propert~•, insured as may be required from time to time by the mortgagee against loss by fire and other hazards, casualties, snd contingencies in such amaunts and for such periais as may be required by mortgagee, and will pay promptly~ when due, any premiums on such insurance for pa>•nlent of H•hich pro~•ision has not been made hereinbefor+e. All insurance shall be carried in companies appro~•ed by~ mortgagee and the policies and renewals thereof shall be held by mortgagee and hati•e attached thereto loss pa~•able clauses in fsvor of and in form acceptable to the mortgagee. In event of loss he ~•ill gi~•e immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurance company concerned is hereby autharized and directed to make pay~ment fo7• ~uch ~ loss directly to mortgagee instead of to mortgagor and martgagee jointly, and the insurance proceeds, or any part thereof. may be applied by mortgagee at its option either Lo the reduction of the indebte<iness hereby secured or to the restoration or repair of the property damaged. In e~•ent af foreclosui•e of this mortgage or other transfer of titie ta the mortgaged property in extinguishmpnt of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. S. That the mortgagee may, at any time pending a suit upon this mortgage, appl,r• to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forthw•ith appoint a receiver of the premises covered hereby all and singular, inctuding aU and singular the income, profits, ~ issues, and revenues from whatever sovrce derived, each and every of r~•hich, it being expressly under- stood, is hereby mortgaged as if specifically set forth and described in the granting and habendum ciauses ~ hereof, and such receiver shall have all the broad and effective functions and powers in anyH•ise ~ entrusted by a court to a receiver, and such appointment shall be rnade by such court as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequac~• oi• inad- ~ equacy of the value of the property mortgaged or to the solvency or insoh•ency~ of said mortgagor or the ! defzndants, and t!iat such rents, profits, ~ncome, iasues, and revenues shail be appiied by such recei~~er according to the Iien of thia mortg'age and the practice 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 rentai for the premises an amount at least equivalent to one-tw~elfth (!1z) of the aggt•egate of the twelve monthly insYallments payable in the then current year plus the actual amount uf the annual ~ taxes assessments, water rates, and insurance premiums for such year hot covered by the aforesaid mont~ly gsyments. ( 9. Thzt (u) in ti~e e~~e~~t of xr~~- breach of this moi•tgage oi• ~l~~fault un the pa?•t of tite mai~tgagor, oi• ! - ( t,) in the e~~e»t that an>• of said sums of mone}• herri» referred to be not promptl~• at~d full~~ paid ~~~ith- j uut deman~l ur nutice, or (c) in the e~•ent that each and t'\'Ei'~' tFlt' sti~~ulations, agreements, conditions, ~ t~nd CO\'t11i111tS Uf said note a~id this ntoi•tgage, ai~e t~ot duly, ~~k~c~mptl~~, r~?~rl fi~ll~~ ~~erfo2•med; t}ieti i~~ t~it}ie~• ur a~~~• ~uch ~~~~f~nt, the saiti ~i~;gr~~gatt~ sum m~~ntic~~ied iii sai~l ~iut~ tlien ~•~~maining u~ipaid, ~~~ith ( interest accrue~i to that time, and all mua~e}•s secured hereb~~, shall become due anci pa~•able forth«•ith, i ur thereatte~•, .it thE~ c~ptioii uf sai<l mortgagee, as ful1~- anci complet~~i~• as if atl c~f tfie saici sums of m~i?e~• , ~~-~i•e oi•ginatt~• stipulated to be ~yaid on such day~, an}'thit~g iti saici ~~ote oi• i~~ tl~is mortgage to the co~;trar~• ~ ?~ot~~~ithsta~zdi;~g; a»d t}ic~~•et~po» ui• thei•eafter, at the optioi~ of said mortgagee, ~~~it}iout notice oi• ciema:~d, f suit at la~~~ oi• iil equit~•, ma~• be pros~~cutecl as if all mot~e~•s seeured hei•eb~• haci matcn•ed p?•ior to its insti- ~ tution. The mortga~ee n~a~• foreclase this mot•tgage, .is to fhe amount so cieclared due anci pay~able, and ~ th~' S~1(~ ~)['Eft11SE'~ shatl bf~ sold to satisfy ancl pa~~ the same togethe?• «~ith costs, f 1j)E`I1SE'S, ~nd allo~~~ances. ~ In case nf na1•tial f+~rc~closure of this mortgage, the nu~rtgagecl premises shalf be solc~ subject to the eon- ~ ~Illlllil~' ~Il'll 02 t~11S T17G1'tg~1~P fo~• the amount of the ~iebt nc~t then rlue an~~ w~paid. lit such ease the pro- ~ ~•isions of t}iis pa~~agranh ma~• again be a~•aiteci of ti~t~i•eafter feom time to time b~• the mortgagee. ~ 10. That the mortgag<;r ~~-~11 gi~•e immeciiate notice i~~• mail to th~~ m~~t•tgagee of an}• coru~et~ance, ~ transfet•, or clian~e of u«~~.ership of the pt•emises. 11. That no ~+•ait•er of tuiy corenant he?'ein c~r of the o1,li~ation secureci herei~~~ sha21 at any time ~ thet•eafter be held to he a ti~~ai~~e?• of the iei•ms hereof oi• of t{ie note secui-eci here!>~~, ~ 12., That if the mortgagor default. in any of the co~~enants or agreements contained herein, or in said note, then the mortgagee may ~erfurm the same, and all expenditures (including reasonable attor- ~ ney's fees) made by the mortgagee in so doing shall dr~~~~~ interest at the rate set forth in the note secured hereby, and shall be repa~•able immediately and withvut deniand 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 demand addressed to the owner of record of the mortgaged i pr~mises, or directe~ to tiie said aw~ner at the last adclress actually furnished to the mortgagee, or directed y to said ow~ner at said mortgaged premises, and mailed i~y the United States mails, shall be sufficient notice ~ and demand in any case arising under this instrument and required b3~ the pro~~isions hereof or by law. ` 14. The mortgagor co~~enants anc~ agrees that sa long as this mortgage and the said note se~ured hereby are insured under the pro~•isions of the National ~iousing Act, he µ•ill not execute or file for record ; an~~ instrument which imposes a restriction upon the sale or excupancy~ of tne mortgaged property on the basis of i•ace, color, or creed. L'pon an,y violatian of this undert~k~ng, the mort~agee may, at its aption, deciare the unpaid i:,atance af the ciet~t secured hereby immediate;y due and payable. t~ l ~ i ! ~ E BoQK 124 .y : 62 . ~