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Home My WebLink About0561 • , ~ . . . ~ . : ~ . fines~ or impoaitions~ for which provision has not been made hereinbefore, and in default thereof the mort- gagee m~?y psy the sarne ; and that he wifl prornptly deliver the official receipts th~refar to the mortgagee. b. That he will permit~ cornmit~ or suffer no waste. impairment, or deteriaration o~ said property. or any part thereof ; and in the event of the failure of the mortgagor to keep the buildings on ssi~ prem~ses and those to be erected on said prem:s~s, or improvements thereon, in good repair, the mortgagee may make such repsirs as in its discretion it may deern necessary for the proper preservation thereof, and the full amount of each and every such ~ayment shall be immediately due and payable, and shall be secured by the lien oi this mortg~Rge. - 6. That he will pay all and aingular the coats, charges, and expenses, including reasonable law•yer's fees, ~nd costa of abstracts of title~ incurred or psid at any time by the mortgagee because of the failure on the part of the mortgagor pramptly and fully to perform the agreements and covenants of said prom- issory nate gnd this martgage, and sai.~i costs, charges, and expenses shall be irnmediately due and pay- able and ahall be se~ured 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 rnartgagee ~gainst loss by fire and other hazards, casualties, and contingenciea in such amounts and for such periods as may be required by mortgagee, and will pay promptly~ when due, any premiums on such inaurance for payment of K~hich provision has not been made hereinbefore. All insuran^e shall be carried in companies approved by rnortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto loss pa~•able clausea in favor of and in form acceptable to the mortgagee. In event of loss he will gire immediate notice by mail to mortgagee~ and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurance campany conc~~rned is hereby authorized and directed to make payment for such loas directly to mortgagee instead cf to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgao~e at its option either to the reduction of the indebtedness hereby secured or ta the restoratio,~ or repair of the praperty damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged property in extingu~shmPnt of the inc~ebtedness secured hereby, all right, title, and interest of the mortgagor in and to ar~y insurance policies then in force ahall p~?ss to the purchaser or grantee. 8. That the mflrtgagee m$y, at any time pending a suit upon this mortgage, apply ta the court hav- ing jurisdiction thereof for the app~ointment of a receiver, and such court shall forthwith appoint a receiver of the prernises covered hereby all and singular, including all and singular the income, profits, issues, and revenues 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 shall have all the broad and effective functions and powers in an~•K•ise entrusted by a court to a receiver, and such appointment shall be made by such court as an adrnitted equity and a 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 insolvency of said mortgagor or the defendants, and that such rents, profits, incame~ issues, and revenues shall be applied by such receirer 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 cn demand as a reason- able monthly rental for the premises an amount at least squivalent to one-twelfth (!12) of the aggi•egate of the twelve monthly installments payabiP ~n the then current year plus the actual amount of the annual taxea assessments, water rates, and insurance premiums for such year not covered by the aforesaid , montfily payments. 9. That (cc) in the e~~ent uf an~• bi•each of this moi•tgage or ~lefatilt un thc part of the mortgagoi~, oi• ( b) in the e~•ent that aii~• of said sums of motle~• hercin i•efei•?•ed to be not pi•om}~tl~~ and full~• paid u~ith- out demand or uotice, or (c) in the e~~ent that each and e~•er~- the stipulations, agreements, conditions, ,~nd co~~e.~nants of said note aiici this mor•tgage, a~~e ~iot duly, ~~rumptl~~, a~ici fi~ll~• performed; then iYi eithei• or an~' surh ~~ret~t, the saic~ agg~•egzte sum mc~i~tio~?ed in s~ticl ~iotr tlien r~maining unpaid, ~~•ith interest accrued to that time, and all mone~•s serured hereb~~, shall become ciue anci pay~able forth~~•ith, or tl~ereafter, at the optian uf saici mortgagee, as full~' ~nd compl~.~tc~i~• as if all of the said sums of mone~• ~~~~re orginall~• stipitlated to be paici o» such da~•, ai~~•thing i~i saicl i?ote ot• iii this moi•tgage to the co~iti•ar~• not:~~ithstanding; an~l therc~upon or thereafter, at the option of said mortgagee, ~~•ithout notice or riemand, suit at la~~• or in equit~•, may~ l~e ~rasecut~cl as if all moi~e~•s secw•ed hereb~• had matured prior to its insti- tution. The mortg~gee ma5• foreclose this mortgage, ~ls to the amo~int so declared due and payable, and th~~ saicfi p~~emises sl~all be sold to satisfy and pa~• the sam~ together «~ith costs, E~I~enses, and allo~~•ances. ln case of partial foreclosure of this mortgxge, the mortgagecl premises shall be sold sui~ject to the con- tinuing lien of this mortgage for the arnount of the clebt not then duc.~ ancl unpaid. ln such case the pro- ~~isions of this pa?•agi•aph ma~~ again be as•aileci of th~~i•eaftei• fi•om time t~ time b~• the mortgagee. 10. That the mortgagc~r ~~-ill gi~•e immediate notice b~- mail to the mortgaRee of an~• con~~e~•ance, lrxiisfer, or change of o~~~nership of the premises. 11. That no wai~•ei• of any' co~'enant herein o?• of the ot~ligation secured hereby shall at any time thereafter be held to l~e a H~aiver of the terms hereof or of t}re nute secured hereb~•. 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 (inr_luding reasonable attor- ney~'s fees) made by the martgagee in so doing shall drzw interest at the rate set forth in the note secured hereby, and shall be repayable immediately and w~ithout demand by Yhe mortgagor to the mortgagee, and, together with interest and costs accruing thereon, sh~ll be secured by this mortgage. 13. That. the mailing o~ a written notice or demand addressed to the owner of record of the m~rtgaged pren~ises, or directed to the said owner at the last address actually furnished to the nlortgagee, or directed ~ to said owner at said mortgaged premises, and mailed by the United States mails, shall be sufficient no±ice 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 secur~d hereby are insured under the provisions of the h'ational Housing Act, i?e will not execute or file for record ~ny instrument which imposes a restriction upon the sale or occupancy of tne mortgaged property on the basis of race, color, or creed. Upan any violation of this undertaking, the mortgagee may, at its option, declare the unpaid balance uf the debt secured hereby immediately due and payable. SQO~t ~ ~U~ ~ - : - _ - .~c - - - _