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Home My WebLink About2202 • ; ~ finea, or impoaitiona, for which provision hxs not been made hereinbefore, and in default thereof the mort- ~sgerE may pay the aAme; and that he will prnmptly deliver tke official receipts therefor to th~ mortgagee. 6. Thst he will permit, commit~ or suPCer no wa8te. impairment, or deterioration of said property or any part therenf ; and in the event of the failure of the mortgagor to keep the buildin~s on said premises and thoee to be erected on said premiees~ or improvements thereon. in good repair, the mortgsgee may make such repairs as in its diacretion it mxy deem neceseary for the proper preservation thereof, and the iull amount of each s~nd every ~uch psyment shall be immediately due and payable~ and shall be secured by the lien of thi~ mortgs~e. 6. That he will pay all and singular the casts~ charges, and expenses, including reasonable law•~~er's feea, and costa of abatracts of title, incurred or paid at uny time by the mortgagee because nf the failure on the part of the mortgagor promptty and f~lly to perform the agreements and co~•Pnants of said prom- isaory note And this murtgage~ and said costs~ chargea, 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, ingar~+cl as may be required from time to time by the mortgagee against loss by fire and other hazards, casualtiea~ and contingencies in such amounts and for such periads as may be required by mortgagee, and w ill pay promptly~ when due, any premiums on such insura»ce for pa~•ment of w•hich pro~•ision has not been rnade hereinbefore. AA insurance shall be c~rried in companies appra~•ed by mortgagE~e and the policies and renewals thereof shall be held by mortgagee and hace attached thereto loss pa~~able clauses 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 mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such loas directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurancr proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restaration or repair of the property damaged. In event of foreclosure of this mortgage or other transfer of titte tn the mortgaged 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 upon this mortgage, apply to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court ahall forthw•ith appoint a receiver of the premises covered hereby all and singalar, including all and singular the income, profits, issues, and rever.ues from whatever source derived each and every of which, it being expressly undei•- . stood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof, and such receiver ahall have all the broad and effective functions and powers in an~~~•ise entrusted by a court to a receiver, and such appointment shall be made by such court as an admitted equity snd s matter of absolute right to said mortgagee, and without reference to the adequac~ or inad- - equacy of the value of the property mortgaged or to the solvency or insol~~ency of said mortgagor or the " defendants, snd that such rents, profits, incorne, issues, and revenues shall be applied by such receiver 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 mort~agee cn demand as a reason- able monthly rental for the premises an amount at least equivalent to one-twelfth (i12} of the aggregate of the twelve monthly instaliments payable in the then current year plus the actual amount of the annual taxes assessments, water rates~ and insuramce premiums for such year not covered by the aforesaid mont~ly payments. 9. That in the e~•ent of an~• breach of this mo~•tgage or clefault vn thc part of the mortgagor, or (G) in the e~•ent that ant• of said sums of mone~• hei•cin i•efei•red to be not p~•omptl~• a?id full~• paid ~~~ith- uut ciemand oi• notice, oi• (c) in the e~•ent that each and e~•er~~ the stipulations, agreeme~its, conditions, and cu~~enants of s~~ici note and this mortgage, are not duly, prumptl~•, and full~• performed; then in eitiiti• oi• au~• ~~icli e~~e~it, the saic~ aggregate st~m mc~ntioned in sai~l ~iotc tlie~i ~•~~maining uiipaid, ~~•ith intei•est accrued to t}~at time, and ali mone~•s secui•ed he?•eby, shall become ~lue and pa~•able foi•th«•ith, ur thereaCter, at Che optio~i uf saicl mortgagee, as full~• and completely~ as if all of the said sums of mone~~ ~~~ei•e oi•ginall~• stipulated to Ue paid oZ~ such da~•, an~~thing in saici ~iote ot• in this moi•tgage to the conti•ar5• not~~•it4istanding; and thereupon or thereafter, at tht option of said mortgagee, ~~~ithout notice or demand, suit at la~~~ o?• iu equit~•, ma~- be prosecuteci as if all mo?ie~~s secui•eci hei•eby had matui•ed prior to its insti- tution. The mo?•tgagee n~a~~ foi•eclose this moi•tgage, as to tlie amount so declai•ed due and payable, ancl the said pz•emfses stiall be sold to satisfy and pa~• the same togethei• ~+•ith costs, e~penses, and alla«•ances. In case of pai~tial fc~rc.~closure of th~s mortgage, the mortgagecl premises shall be sold subject to the con- tinuing lien of this mortgage fo~• the amount of the eiebt not then due an~i impaici. In such case the pru- ~~isions of this ~aragraph ma~• again be a~•aileci of thereafter from time to time b~• the mortgagee. 10. That the moi•tgagor ~~•ill gi~•e immediate nc~tice b~• mail to the mo?•tgagee of an~~ com•e~•ance, transfer, or change of o~~•nership of the p~•emises. 11. That na ~~~aiver of any co~~enant herein or of the ol~ligation secureci hereb~~ si~all at any time tlle?•eafter be held to be a wai~~er of the terms hereof or of the note secured herel~y. 12. That if the mortgagor default in any c~f the covenants or agreements contained herein, or in sa.id note, then the mortgagee may perform the same, and all expenditures (including reasonable attor- ney's fees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured hereby, anti shall be repay~able immediately and without demand 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 premises, or directed to the said Qwner at the last address artually furnished to the mortgagee, or directed to said owner at said mort~aged premises, and mailed by the United States mails, shall be sufficient notice and demand in any case arising under this instrument and required by the provisions hereof or by law. 14. The mortgagor covenants and agrees that so long as this mortgage and the said note secured hereby are insured under the provisions of th?e National ~lousing Act, he will not execute or file for record any instrument which imposes a restriction upon the sale nr occupancy of tne mortgaged pro~rty on the basis of race, color, or creed. I1pon any violation of this undertaking, the mortgagee inay, at its option, declare the unpaid balance of the debt secured hereby immediately due and payable. ~~RK ~~6 : 400 i -