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Home My WebLink About0006 , ~ ~ F ~ . : flnea~ or impoaitions~ for which provision hus not been made hereinbefore, and in defauit thereof the mort- ~~?gce may pay the same; and that he will promptly deliver the official receipt~ therefor to the mortgagee. 5. That he ~?ill permit~ commit, or auR'er no waste, irnpairment, or deteriaration of said property ar any part thereof ; and in the event of the failure of the mortgagor to keep the buildings on said premises arid thoae ta Eie erected on said premisea~ or improvements therean~ in gaod repair, the mortgagee may make auch repaira a~ in ita di~cretion it msy deem necess~ry far the prc~per preservation thereof, and the full amount of each and every such payment shall be immediately due and payable, and shall be secured by the lien of thie mortga~e. 6. Thst he will pay all and singular the costa, charges, and expenses, including reasonable law•yer's fees, atid costs of abatracts nf title, incurred or pairl at any time by the mortgagee because of the failure on the p~?rt of the mortgagor promptly and fully to perform the agreements and covenants of said prom- issory note and this martgage, and sriid costs, charges~ and expenses shall be imcnediately due and pay- sb1Q snd shall be secured by the lien of this mortgage. 7. That he will keep the improvementa now existing or hereafter erected on the mortgaged property, insured as may be reyuired frorn time to time by the mortgagee against loss by fire and other hazaras, c,asualtiee~ and contingenciea in such amounta and for such periads as may be required by mortgagee, and will pay promptly, when due~ any premiums on such insurance for payment of w•hich pro~ ision has not been made hereinbefor~. All insurance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto ~oss pa~~able cia~ses in favor of and in form acceptable to the mortgagee. In event of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurarnce company concerned is hereby authoriz~ed and directed to make payment for such loas directly to mortgagee instead of to martgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applier3 by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of Coreclosure of this mortgage or other tranafer of title to the mortgaged prop~rty in extinguishment of the indebtedness secured hereby, alt right, title, and interest of ihe mortgagar 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 th~ appointment of a receiver, and such court shall forthw•ith appoint a receiver of the premises covered hereby all and singular, including atl and singular the income, profits, issues, and revenues from whatever source derived ~ach 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 shall have all the broad and effective functions and powers in any~+ise entrusted by a caurt to a rec~iver, and such appointment shali be m~de by such caurt as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequacy or inad- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendants, and that such rents, profits~ income~ isaues, 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 martgagor agrees to pay to the mortgagee c~? demand as ~ reason- able monthly rental for the premises an amount ~t least equivalent to one-tw•elfth (ix2) of the aggregate of the twelve monthly installments payable in the then current year plus the actuat amount of the annual taxes assessments, wat~r rates, and insurance premiums for such year not covered by the aforesaid mont~ly payments. 9. That (a) in the e~•e~~t of an~~ breach of this mortgage or rlefault on the part of the mortga~ot•, or (1,) in the e~•ent that an~• of said sums of mone~~ herein referred to be not promptl~~ and fully paid «-ith- out demand or uotice, or (c) in the e~~ent that eacli and eveiy the stipulations, agreements, eonditions, an~i co~~rnants oi' s~ict note dR(~ tFitS 1'i101'tgagE', 1Ye riot dttly, ~~rc>mptl~•, a~ici full~• perfarmed; then in eitllE'Y Ol' ~111~' 5lI~I! ercnt, the saicl agg~~Ergate sum me~itioned in saicl i~ote then r~maining unpaid, ~~~ith interest accrued to that time, anci all mone~•s secured hei•eby, shall become due and payable forth~~•ith, ~i• thei•tattei•, zt the option uf said n~oi•tgagee, as fuli~• anci eon~pletei~' as if all of the saici sums af mone~~ ~~•er•e oi•ginallt~ stipulated ta be i~aici oti stich day, anything in saici note oi• in this mo~~tgage to the contra2•~~ not~~•ithstandi»g; ancl thereupou or thereafter, at the option of said mortgagee, ~~-ithout notice or demand, suit at la~~• or iu equit~•, ma~• be prasecuteci as if all money-s secui•ed hereby had maturecl prior to its insti- tution. The mortgagee may foreclose this moi•tgage, as to the amoimt so ~teclared c~ue and payable, anc~ ~hc said premises shall hf~ sold to satisfy and pa~• the same togethe~• ti~•ith costs, expenses, and allot~~ances. In case of partizl foreclos~u•e of this ~nortgage, the mortgagecl premises shall be sold subject to the con- ti»uing lien of this mortgage for the amount of the ciebt not then due anci unpaid. In such case the pro- ~•isions of this paz•agi•aph ma~~ again be ac•aiied of thei•eafter fr•om time tc~ time b~• the mc~rtgage~. 10. That t}ie mortgago?• ~~-iil gi~•e imtne~iiate tiotice b}• mai! to the mortgagee c~f any~ conti~eyance, tr~;~tsfei•, Ot' C}1SlIgE' of o«-nei•ship of the p?•emises. 11. That na waivei• of any eo~~enant hez•ein or of the obligation secu~•ed hereby shall at any time the2•eafter be held ta be a w•ai~•er of the terms he?•eof oi• of the note secured hereby. 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in said 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, and shall be repa~~able immediately and without demand by the mortgagor to the mortgagee, and, together with interest and cos~s accruing thereon, shall be secured by this mortgage. 13. That the rnailing of a written notice or demand addressed to the owner of record of the mortgaged ~ premises, or directed ta the said owner at the last address actually furnished to the mortgagee, ar directed to said owner a~ said mortgaged premises, and maited by the United States mails, shall be sufficient notice and demand in any case arising under this instrument and required by the provisions h.ereof or by law. 14. The mortgagor covenants and agrees that so long as this mortgage and the said note seeurecl hereby are insured under the provisions of the National ~iousing Act, he will not execute or file for recor~ any instrument which imposes a restriction ~apon the sale or occupancy of tne mortgage.d property on the basis af race, color, ar creed. Upon any violation of this undertaking, the mortgagee may, at its option, declare the unpaid balance of the debt secured herel~y immediately due and payable. 8~K s r _ - - _