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Home My WebLink About1035 ~i ~ i ' ~I i ~I i ~ ~ fines, or impositions, fur w•hich pro~~ision has not beea made hereinbefore, and in default thrreof the mort- a ee ma a thc ~arne • and that he w~i11 rom t} de i~~ ~ ~ ~ g g Y p y , p p y } er the o~ic~al r~ceipts thcrefor t~ t~~e m~~igagrt. ~ I 5, That he will permit, commit, or sufCer no waste, impairment, or deteriorxtion uf said propert~• or any part thereof; and in the event of the failure of the mortgagor to keep the buildinAs on saici prcmises I and those to be erected on said premises, ur improvements thereor,, in good repair, the mortgagee tnay ( make such repairs as in its discretion it may deem necessary for the proper preservatian thereof, and ihe ' full amuunt of each and every such payment shall be immediately due and pa~~able, and shall bt~ secured by the lien of this mortgage, ~ 6. That he w~ill pay alI and singuiar the costs, charges, and expenses, including reasonable la~+•}~er's fees, sitd costs uf abstracts of title, incurred or paid at any time by the mortgagee hecause of the failu?•e on the part of the mortgagor prumptly and full~~ to perform the agreements and co~~enants of said pri~m• ~ issory note and this mortgagc, snd said c~sts, charges, and expenses shali be immediateiy~ due and pa~•- able and shall be secured by the lien of this mortgage. ~ ~ 7. That he H~ill l;eep the impro~•ements noH~ existing or hereafter erected on the niortgaged prupert~•, ~ ~ insured as may be required from time to time by the mortgagee against loss u~• fire and other hazards, casualties, and contingencies in such amounts and for such periods as ma~~ be required by mortgagee, and will pay pramptly, when due, any premiun~s on ~u~it insurance ;or pa~~ment of ~ti~hich pro~~i~inn has I not been made hereinbefore. All insurance shaii bc carried ;n companies appro~~t~ci b}~ mortgag~~e and the policies and reneK•als tl~ereof shall be held b}~ tnortgagee and ha~e attached thereto loss pa~~able clauses in favor of and in form acceptable to the mortgagee. (n e~•ent of loss he ~~~ill gi~~e immediate ~ notice by mail to mortgagee, and mortgagee ma~~ make pro~f of loss if not made promptl~~ b}• mortKagoi•, i: and each insurance company concerned is hereby authorized and directed to make pa?~ment for surh i', loss directly~ to mortgagee instead of to m~rtgagor and mortgagee jointl}~, aiid the ins~u~ance proceeds, or any part thercaf, may be applied by~ mortgagee at its uption either to the reduction of ihe indc~btedness hereby secured or to the restoration or repair of the property damaged. In et•ent of furrctosurc uf this mortgage or other transfer of title to the mortgaged property in exti~rguishment of the inciebtedne~s =I ~ secured hereby, all right, title, and interest of the mortgagor in and to an~~ insurance policies then in furce ~hall pass to the purchaser nr grantee. 8. Th~t the mortgagee may~, at any time pending a suit upon this mortgage, ap~71~• to the court ha~•- ing jurisdiction thereof for the appointment of a recei~~er, and such court shall forth«~ith appoint a recei~~er of the premises co~~ered hereby all and singular, including all and sirtg~al;i~• the income, profits, issues, and revenues from H~hates•er source derived, each atid e~•er~~ of ~+~hich, it heing expressly~ under• stca~, ~s hereby mortgaged as if specifically~ set forth and described in the granting a»d habendum claus~~ hereof, and su2h receiver shall have aq the broad and eflecti~•e functions ancl po~~~ers in an~~a•ise ~ entrusted by a court to a recei~~er, and such appointment shall be made by such c~urY as an admitted ; eqvity and a matter of zbsclute right to sai~3 mortgagee, and w~ithout reference t~3 the adequac}• or inad• ; ~ equacy of the value of the property mortgaged or to the sol~~ency or insoi~~enct~ of said mortgagor or ?he s; defendants, and that such rents, profits, income, issues, and revenues shail be applied b}~ such recei~~er accordin~ to the iien of this mortgage and the practice of such court. 112 the ecent ~f ai~~• default an khe i part of the mortgagor hereunder, the mortgagor agrees to pay~ to the mortgagee c~ demand as a reason• abie monthly rental for the premises an amount at least equivalent to one-h+~eifth of the aggreRate of the ta•elve monthly installments pati~able in the ther current year plus the actual amount of the annuai : j taxes assessments, ~~~ater rates, and insurance prem;ums for such ~~ear not coti~ered by~ the aforesaid ~i mont~?ly payments. I 9. That (ri) iii th~~ rtie~~t uf ant~ bri~ach u[ this mnrt};~ige ur ~l~~l~~iuh uil thr pa~•t of tlie n~nrtgagw~, ~ 1 b) in the E~1•ent thsit au~~ ui' said ~uni. ul' muu~~c {u~r~~in refa~rrr~i tu I~c iu~t p~•~~mptl~• and f'ull~• p2id «~itL- ~ ~ out ~I~~mau~l rn~ uuti~•c, uc (r•) in th~~ ~~~~cnt tf~at E~acfi .ind ~~~~cr~~ tf~E~ stipul~itinns, ~tg~re~~mE~nts, conditions, an~l c~~~~~~~nants uf s,ti~l nutr au~l tl~is n~uri~~tgt>, a~~c ~iut ~1u3~', l~r~~i~~ptl}~. ,u~~l f'ulh• ~~~~rl'~rmed; thcn iii ~1 ~~ithc~r ur :~nr such ~~~~~nt, th~~ sai~l a~;~;reKat~~ ;~u? mrutiuuc~l in sui~l uut~_ tL~~n r~~~naining uupaid, n~ith iut~~rest aecrue~i tu khat tim~~, ~iml all muui~}~s sccu~~ed i~~~rehr, shall I~r~um~~ due an~l na}•abl~~ forth~t~~tfi, ~ nr thercaitcr, ~it tht~ ~~ptiun ~~l' sairl mortga~c~~, ~ts fulh~ and con~~~lt~t~~1}~ as i(' ali u~ th~~ ,<<i~i sums of' inuner ~c~~rr orgiu:ili~~ stipulat~~d tu bc ~~atd on such ~la~~, ~~i>>~thing in s~n~l uuC~~ ur in this mortgagi~ t~~ the c~~~~itrar}. ~ ~ i~ut~rithstanriing; ;uui th~~reupuu ur thereafter, at thr uptiou uf s~~i~l mort~a~;e~~, u~ithoat notice or riema~~d, ~ suit a: I~i~r or in t~q>>it~•, ma~ be pr«secuterl as if ail mou~~~~s sec~n~~~~l hceeb~~ ha~l mxt~u~ed prinr to its insti- ~ t?ttioi~. Thr nturt~;~i~;ee msit~ furecl~.~.e this mortga~e, as lu tiie atnotu~t su ~it~clar~~d ~lue <in~l pti~~able, an~! ~ th~~ sai~l ;~rrrnis~~s shall 13c suld t~~ ,alisfr an~l ~a~~ t1~c same tog:~fhf~r n~ith cnsis. e~p~~ns~~s, ~u~d allo~ranees. a ln east~ of' partial !'~~rt~rio:ur~~ uf' this murtgagE~, the mnrt~age~l ~~remist~, shxil he sol~l sub.iect tu the cun- tinuing lien uf this mnrtka~e l~ur tlie amntint of thE~ ~i~~bt ~wt th~~i~ ~lu~~ an~l unpui~l. fn such c,ist~ the pru- I ~~isions oi' this par~i~;rapii m~~}~ again be a~~ailt~~l of th~~r~~aftrr fl•~~n~ tim~~ t~~ timc b~• thE~ itun•tg~~~rc. ~ 10, 'Chat the mnrt~;~i~;m• ~riii ~i~~c immedia~e n~~ticc i,~~ mail tu th~~ mnr~t~,ra~,rt~t~ ~,f ;u~~~ cr,n~~~.~~~,inc~~, ~j tra~~sl'er, or cltau~~ uf uu~~i~~rship ot thc prt~m;scs. ~i ll. That nu ~ti~nirer ~~f anti~ cm~enant hert~in nr uf the u1~~i~ation ~ecur~~l l~ert~la~• shall ~if ~int~ tin~e ~ tl~ct~eafter !~e hcld to be a ti+~aiti~er uf thr term~ here~~f ui' uf the nute si~cure~i herel~t•. ; ~ 12. That if the mortgagor default in any~ of the co~~enants or agreements contained herein, or in ~ said note, then the mortg~gee ma}• perfurm the san~e, and ~ll expenditures (including reasonai~le attor- ne~•'s fees) made by the mortgagee in s~ doing shali dr~ne interest at th~ rate set forth in tl~e note secured hereby, ancl shail be repa~•able immediatel~~ and itV~uut demarid 1~ti~ the mortgagor to the mortg~gee, and, t+~getiter with interest and costs accruing thereon, shall 1}e secured by this mortgage. 13. That the mailing of a u~ritten notice or clemand <tddressed to the ~.,w~ner of record of the mortgaged nremisi~s, or directed to tkte said o«~ner at ;he last a~ldres; actu~~il~• furnished to tlle mort~agee, or directed ~ to said ou~ner at said mortgaged premises, and maile~l h}~ tP~e T'nited State~ mails, shall lie si!tlicient notice and demand in any~ case arising under this instrument and rer~uirec3 by the ~~roti~isions hereof or by law~. i 11. The mort~ag~r co~•enants and agi•ees that so lon~ as this mortgage a~~d the said note sec~u~ed ~ hereby are instn~ed un~3er the proi~isions nf the ~aiional Iluusing Act, he ~siil n;~t e.r•ecute oriile fi~r recurd , any instrumetit ~~hich imposes a restrictiun upon the ~ale or occupancs~ of tne mortglged ~ropert}• on the ; ~ basis of r~ce, color, or creed, lipon an~~ ~'iolation of this undertaking, Lhe mortgagee ~~n~y~, at its option, ! declare the unn<<ici lialance c~f the deht serureci h?rehy immediately~ tiiie and prit~able. i f ~0~~124 ~~6 ~ ~ , i