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Home My WebLink About1680 fines~ or impositions, for w•hich pro~•ision has not been made hereinbefore, and in default thereof the mort- gagee may pay the same; ar.d that he w•ill promptly deliver the official receipts therefor to the mortgagee. 5. That he will permit, commit, or suffer no waste, impairment, or deterioration uf said propert~• or any part thereof ; and in the event of the failure of the mortgagor to keep the buildings on saia pi~emises and those to be erected on said premise3, or improvements thereon, in good repair, the martgagee ma~~ make such repairs ag in its discretion it may deem necessary for the proper preservation thereof, and the full amount of each and every such payment shall bc~ immediately due and payable, and shall be secured by the lien of this mortgage, 6. That he will pay all and singular the costs, charges, and expenses, including reasonable la~+•~~er's fees, and costs of abstracts of title, in~urred 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 ca~•enants of said prem- issory note and this mortgage, and said costs, charges, and expenses shall be immediately due and pa~~- able and shall be secured by the lien of this mortgage. That he will keep the improvements now existing or hereafter erected on the mortgaged propert~•, insured as may be required from time to time by the mortgagee against loss by fire and other hazards, casuaities~ and contingencies in such amounts and for such periods as ma~• be required by morigagee, and will pay promptly, when due, any premiums on such insurance for pa~•ment of H-hich pro~•ision has not been made hereinbefore. All insurance shall be carried in companies sppro~•ed b~• mortgagee and the policies and renew•als thereof shall be held by mortgagee and hare attached thereto loss pacable clauses in favor of and in form acceptable to the mortgagee. In event of l~ss he H•ill gi~•e immediate notice by mail to mortgagee, and martgagee may malce proof of loss if not made promptly by moi•tgagor, and each insurance company concerned is hereby authorized and directed to make pa~•ment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointl5~, and the insurance proceeds, ~r any part thereof, may be applied by mortgagee at its option either to the reciuction of the indebt~dr~ess hereby aecured or to the restoration or repair of the property damaged. In e~•ent of fo*eclosui•e of this mortgage or other transfer uf title to the mortgag~d property in extinguishment 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. 8. That the mortgagee may, at any time pending a suit u~on this mortgage, appl~~ to the court ha~•- ing jurisdiction thereof for the appointment of a receiver, and such court shall foi•thw•ith appoint a receiver of the premises covered hereby all and singular, including all and singular the inrome, profits, issues, and revenues from whatever source derived, each and e~•er~~ of which, it being expressly under- stood, 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 funct~ons 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 sol~•ency or insoi~•ency of said mortgagor or the defendants, and that such rents, profits, income, issues, and revenues shall be applied by such recei~•er according to the lien of this mortgage and the practice of such court. In the event 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 rental foi• the premises an amount at least equivalent to one-ta•elfth (~i.;) of the aggi•egate of the twelve monthly installments pa~~able in th~ then current year plus the actual amount of the annual taxes assessments, water rates, and insurance premiums for such year not co~~ered b~• the aforesaid mont~ly payments. 9. Ti~~~t (z~) i~~ the e~~t~it uf ~ti~~- br~~~ch ~~1' tiiis mui~tgage c,r ~l~~fault un tl~e part of the mortgagc~i•, or ? in the e~~ent ih~~t <i~~~~ ut said sums c~f monc~~~ h~~r~~in refrrred t~, bt~ not prc~m~~tl~- and full~- paid «~itti- uut cic~m<uul ~>r nutir~~, ur i<•) ii~ tht~ ~~~~ent that each and c~~~E~~~~• the stir,ulati~ms. agreement~s, conciition~. a~icl cu~en~~~its of ~~?icl nutE~ aiid this mui•tgag~~, ai•e nc,t cluly, ~~r~~~n~~tl~~, ai~cl t'iill~~ pe~~•foi•meci; tllEll iii t'Iti~lt'1' (~1' illlt' tiUC{1 t'\'t'llt, t~lE' S~ll(~ ~1~;~,Yl'~,:lfl' SUIII Illt'llfl(lllt'(~ 111 S1ill~ ll(~tt' tfll'll 1't'111i11111T1~T., UU})ill(~, ~\'It~l i~~te~•est ~SCC1'llE(I 1(1 that timc~, ~ncl all nu,n~~1'S SPl'U1'C'(~ }lereb~~, shall ~~~cum~~ due anci pa~•able forth~~~ith, ~~i• th~~i•e~it'tt~i•, at th~~ opticnt c~f saicl murtgageE~, as full~~ a~~d romplet~~l~~ as if ail uf the saici simis of mon~~~~ u~ei~e urginall~• stipt~lated to 1~~~ ~~aici o~i such cla~•, an~~thiiig i~i saicl nute or iii this mc~i•tgage to the rontrar~~ not«~ithst~lll(Il1iF; ; ancl tilc~reu}~un or th~~reafter, at the option uf saicl mo~•tgager, ~~~ithout notiee or clemand, suit at Itl\1' pl' iil equit~•, ma~• be prosecute~i as if all mo~u~~-s sec~~red her~~U~~ had matur~~cl prior to its insti- f11t1011. Tlll' mortgage~~~ mae~ fot~ecluse this mortgagr, <<s tu the amoimt so ci~clar~~d ciue and pa~-aUle, anci tl~~~ saicl p?•emi.f ~ sh~ill t~E~ sc~Icl tc~ satisf~• anei pa~- the samt~ togc~th~~~• ~~-ith c~~sts, exi~E~nsc~s, and allc~~~~anees. In c•as~ c~f partial f~~i~c~c•l~~si~?~e of this moy•tgxge, the mc»•t~a~;ecl ~~i~emises shall b~~ sold sub,ject to the con- tinuing li~~n c~f thi~ mortKa~r for the amuunt of the ~lebt »c~t thE~~~ du~ an~l t~i~paicl. In such case the pro- ~ i;ioi~s of this paragrapii ma}• again bE~ a~~ailE~cl of thrrE~aft~~r f~•<~m timc tu timc~ b~~ tn~~ mortga~ee. 10. That thf~ m~~i•t~~i~*~~r ~~'ili gi~~e immc~ciiate nc~tice 1~~~ maii t~, th~~ m~~rtKakee~ c~f an~- con~t~~'aneE~. tra~isfer, or rhaiige of c,~~~~~ership of the premises. 11. That n~~ ~~~ai~•er ~~f an~• cu~'enr~nt ht~~•ein ~~r of the ~~hli~ati~m sE~ctn•ecl hereb~• sh~ll at an~• time tiiereafter k~e }~elci to 1~e a w~ai~~er of the tern~s lie?~eof or of the note sectn~ecl heret~}•. 12. That if the mortgagor defauit in any of the co~~enants or agreements contained herein, or in said note, then the mortgagee may perfurm the same, and all expenditures (including reasonable attor- ne~•'s fees) made by the mortgagee in sa doing shall draw~ interest at the rate set forth in the note sectjre~i hereby~, and shall be repayable immediatei~~ and w~ithuiit dernand b~~ the mortgagar to the mortgagee, and, *ogether with interest and costs accruing there~~n, shall l~e secured by this mortgage. ~ 13. That the n~aiiing of a w•ritten notice or dem~~nd addressed to the ow•ner of record of the mortgaged premises, or directed to the said ow~rer at the last address actuall~~ furnished to the mortgagee, or directed to said oH•ner at said :~~ortgaged premises, and maile~i i~~~ the United States mails, shall be sufficient notice and demand in an}• case ai•ising under this insti•ument and required b~• the pro~•isiuns hei'eof or k~y ]aw. 14. The mort~agar covenants and agrees that so long as this mortgage and the said note secured hereby are insured under the pro~•isions c~f the tiatian<il IIousinQ Act, he w•ill ne;i execute or file for rec~~rd ani~ instrument w~hich impuses a restricticm upon the sale or occu~ancy uf tne mortgaged pi•opert~• on the t~asis of race, ~olor, c~r creed. Upor, ans ~~iolati~m of this undertaking, the mort~agee may, at its option, declare the unpaid 1~alance of the debt secured herehv immediatel~• due and pa~•able. g~P~~.~:5 - ~