The URL can be used to link to this page

Home My WebLink About1273 t • ji" fines, or impositions, for w•t?ich prc~~•ision has notbe~ made hereinbefore, and in c~efault thereof th~~ mort- gagee may pay the same; and that he will promptly deliver the official receipts therefor to the mortgagee. 5. That he will perrnit, commit~ or suf~er no waste, impairment, or deterioration of said propert~• or sny part thereof ; and in the event of the failure of the mortgagor to keep the buildings oii saia pi•emises ~ and those to be erected on said premises. or improvernents thereon, ~n good repair, the mortgagee ma~• make such repairs as in its discretion it may deem necessary fc?r the proper preservatior_ thereof, and the full arr?ount of cach and every such payment shall b~ immediately due and payable, and shall be secured by the lien of this mortgage, 6. That he w•ill pay aU and singular the costs, charges, and expenses, inclnding reasonable laa•~~er'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 tu perform the agreements and co~•enants of said prom- issory note and this mortgage, and sa~d costs, charges, and expenses shall be immediately due and pay~- able and shall be secured by the lien of this mortgage. 7. That he K~ill keep the improvements noK~ existing or hereafter erected on the mortgaged propert~•, insured as may be required from time to time bp the martgagee against loss by fire and other hazards, easualties, snd eontingencies in such amounts and for such perials as may be required b}~ mortgagee, snd will oay prornptly, when due, any premiums on such insurance for pa~~ment of ~•hich pro~•ision has not been made hereinbefore. All insurance shall be tarried in companies appro~•ed by mortgagee ai~d the palicies and renewals thereaf shall be held by mortgagee and ha~~e attached thereto ioss pa~•able clauses in favor of and in form acceptable to the mortgagee. In event of loss he H•ili gi~•e immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by moi•tgagoi•, and each insurance company concerned is hereby authorized and directeci to make payment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebteciness hereby securerl or to the restoration or repair of the property damaged. In e~•ent of foreclosui•e of this mortgage or other transfer of title to Che mortgaged property in extinguishm~nt of the indc~btedness secured hereby, all right, title, and interest of the mortgagor in and to any ~nsurance policies then in force shall pass to the purchaaer or grantee. ~ S. That the mortgagee may, at any time pending a suit upon this mortgaRe, appl~• to the court ha~•- ing jurisdiction thereof for the appointment of a receiver, and such court shall fo~•th~~•ith appoint a recei~•er of the premises covered hereby al~ and singular, including all and singular the income, profits, issues, and revenues from whatever source derived, each and e~•ery~ of «~hich, it being expressly under- stood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clat~ses hereof, and such receiver shall have all the broad and effecti~•e functions and pow•ers in an~~«•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 inaci- equacy of the value of the property mortgaged or to the solvency or insol~•enc~• ~f said mortgagor or the defendants, and that such rents, profits, income, issues, and re~~enues shall be applied b~• st~eh i•ecei~•er according to the lien of this mortgage 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 c7 demand as a i•eason- able monthly re.ntal for the premises an amount at least equivalent to one-t~~elfth of the aggregate of the twelve manthly installments pa}•able in the then current year plus the actual amount of the annual taxes assessments, w•ater rates, and insurance premiums for such year not co~•ered by the aforesaid mont~ly payments. 9. Th<<t (a) in the E~~~e~rt uf an~• l,r~~ach uf this murt~;agt ur ~lcf~~iit un tlu p.u•t of the mortgagor, ur 1 I,) i~t ttic• ece~it that an~• ~~f saicl st~ms uf mon~~~• hc>reiri refei•i•ed tu bc~ not pr~~mptl~• and it~ll~• pa«l «-ith- uut deman~l ur iu~tice, e~r (rl in th~~ ~~~~c~nt that ~~ach anci e~~~c~r~• the siipulati~,ns, agrc~E~ments, conriitions, u~ul cu~enants of st~icl nut~~ anii this mut•tga~;~•, are ?u>t clui~-, ~~r~~mpti~•, <lncl full~• performe~l; then in ~~ithcr ~~i~ :~i~}• sucl~ ~~~~~~nt, tlic~ sai~l .,~,rKr~~~.ratt~ sum mrntionrcl in sai~( nut~~ th~~~~ r~~m~iining uiipaicl, ~~•itti interest accruf~d tc~ tllilt Illlll~, ancl ~ill m~~nt~~~s s~~cur~•ci iu~r~~b~•, ,hall l~ec~nne clue an~l pa~•able foi~th~rith, ui~ th~~r~~<<tter. at th~~ upti~~u ui~ sai~l mo~•tgag~~e, as full~~ a?:c1 rum~~l~~te~l~~ a~ if all ~>f thc• saici sums of nu~»e~• ~~re c,rginz~ll}~ stil~ulat~~ci to l~e ~~aici oi~ such ci~i~•, an~~thii~g i~i sai~l note c~r in titis m~~rt~agf~ to the cuntrar}~ >>ut~~~ithst~lll(Ililf; ; an~l the~i•~~u~~un or thc~r~~aftc?•, at tiie U~)t1U11 l>t~ S~il(1 iTl(11't~,Y21j.,rE'C~, «'ithout r?oti~e o~• dc~mat~d, ;uit at la~~~ or in e~~uit~~, ma~~ ~e prosecutecl as if all mu~i~~J'S SE'CLII'f~el here~~- had matureci prior tu its ins~i- tllUOil. TIIE` mortga~;~~r ma~• foreclose this m~~•tgage, as t~~ tl?e 2illlOlill~ so ci~~clare~ci clue and pas~able, anci tl:~~ s~~icl prf~mis~~~ ~h<11! hf~ sulcl tu satisf~• and pa~~ the samf~ to~;~~tiiE~r ~~'ith ec~sts, e~j~f•nses, ancl all~~~~anees. I1~ case uf i~arti~il t~~~rE~cin~ur~~ of this nwrtgag~. the m~~rtgageci pr~~?nisE~s shall bE~ sc~ld subjeet to the c~~n- 1.11111R1~; Ilt~n c~f thi, Il)~~l'tgagc~ fm• thr amc,i:nt of tife ~I~~bt nut thc~i~ clue ~in~i tn~pai~l. It~ such case the pro- ~~isions of t}iis pa?•ag~~ap}i ma~- agai» b~~ a~~~iiic~cl uf tli~~r~raftti• frum tirn~~ t~~ timc~ b~~ tiit= moi•t~agee. 10. That tht~ in~>i•t~;ag~~r ~~•ill ~i~~E~ imme~ciiate notice ITliill t~~ tht~ murtgagee i~f an}• cc,t~~~t'~'1i1Ce, tr:tnsf'er, or chat~~e uf ~n~~~~ership ut the premises. 11. Th~et r~u ~+~xi~~ei• uf an~• zu~~eizant hei•ein ur uf tl,e ~~l>li~;<iticro sectn•e~i hereh~• shail <it any time thereafter ~~e helci tu 1~e a~+ai~~er ~>f the terms herec,f or uf the nute ~ecui~e~l her?h~•. 12. That if the mortgagor default in any af the co~•enants or agreements contained herein, or in said note, then the mortgagee may ~erfoi•m the same, and all expenditures (including reasonai~le attor- ne~•'s fees) made bS~ the mortgagee ;n so doing shall dra«• interest at the rate set forth in the note secured herel~y, and shall be repa~•able immediately FiIld N'ltilt?Ut CILIT1f3I1C~ li}~ the mortgagor to the mortgagee, and, together w•ith interest and costs accruing thereon, shall i~e secur~ed by this mortgage. 13. That the mailin~ of a writ±en notice or demand addressed te the owner of record of the mortgaged premi:;es, or directed tu tiie said u~ti~ner at the last addre,s acttiall~~ furnished to the mortgagee, or directed to said ow~ner at s~id mortgaged premises, and mailed the United States mails, shall l~e s~f'Fcient notice and demand in any case arising under this instrument and r?quired by the pro~•isions hereof or by law. 14. The mortgagor co~•enants and agrees that so long as this mortgage and the said note secured herel~y are inst<red under the pro~•isions of the ti'ational ~Iousin~ Act, he will not e~ecute or file for record any instrument which imposes a restriction upon the sale or occupancy of tne mortgaged p2•opert~• on the hasi5 of race, col~~r, ar creed. U~~on an~• ~•iolation of tnis undertaking, the mortgagee ;nay, at its option, declare the un~~id balance of the debt secured hereby immediately due and payable. °saoK 125