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Home My WebLink About0807 . I . 4 Y..~ l ~ 1.= ~ ( ~ . , v ~ ~ . . . ~ , ~ . e I` ~L finea, or impositions, for which provision has not been made hereinbefore, and in default thereof the mort- I rv~ gagee may p~y the same; and that he will promptly deliver the offic~il receipta therefor to the mortgagee, ` 5. Th~t he will permit, commit, or suffer no wiste, impairment~ oc deterioration of said propert~~ or ' ~ any part thereof ; and in the event of the failure of the mortgigor to keep the buildings on said premises 3,~ and thoee to be erected on said premises, or improvementa thereon, in good repair, the murtgagee may make such repairs as in ita discretion it may deem necesasry for the proper preservation thereof, and the j full amount of each and every such payment shall be immediately due and payable, and shall be secured by the lien of thia mortgage, ~ I 6. That he will pay all and singular the costs, charges, and expenses, including reasonable law~yer's I feea, and costa of abstracts of title, incucred 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 covenants of said prom- ' issory note and this mortgage, and said costa, charges, and expenses shall be irnmediately due and pay- ~ i able and ahali be secured by the lien of this mortgage. ' ~ 7. That he will keep the improvements now existing or hereafter erected on the mortgaged property~, ~ inaured ~a may be reqwred from time to time by the mortgagee against loss by fire and other haaards, I casualtiea, and contingenciea in such amounts and for such periods es may be required by murtgagee, and will pay promptly, when due, any premiuma an such insurance for payment of H~hich pro~~ision has ' nat been made herembefore. All insurance shall be carried in cnmpanies appro~~ed by mortgagee and i the policies and renewals thereof shall be held by martgagee and have attached thereto loss pay~able ~ clausea in favor of and in form acceptable to the mortgagee. In event of loss he will gi~•e immediate i notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, , and each insurance company cuncerned is hereby suthorized and directed to make payment for such I. loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance prceeeds, or ~ . any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness , I hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this ~ mortgage or other transfer of title to the mortgaged ptoperty in extir.guishment of the indebtedness aecured 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 juris~iction thereof for the appointment of a receiver, and such court shatl forthw•ith appoint a ! receiver af the premises 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 under• 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 any~w•ise ~ ~ entrusted by a ceurt 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 adequacy or inad- I equacy of the value of the property martgaged or to the solvency or insolvency 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 agreea to pay to the mortgagee c~ demand as a reason- ! able manthly rental for the premises an amount at least equivalent to one-twelfth (!12) of the aggregate of the twelve monthly installments payable in the then current year plus the actual amount of the annual taxes assessments, water rates, and insurance premiums for such year not covered by the aforesaid morit~ly payments. i 9. That (a) in the erent of anti• breach of this mortgage or ilcfault on the part of tht mortgagor, or I ( 6) in the e~~ent that au}~ of said sums of mone}• herein referred to be not promptlti~ and fully paid ~~~ith- ; out demanci oi• ??otice, or (e) in tlit e~•ent that each and eeer~~ the stipulaticros, agreements, conditions, ' and co~•enants ot' said note and this moi~tgage, are not duly, prumptly~, and full~~ performed; then i?i eithei~ or au}~ surii c~~ent, thc said aggregate sum me'11tlUllptl lll S~iil~ uote ihen rrmaining unpaid, ~ti~ith ~ interest accrued to that time, antl all mone}~s secured hereby, shall become due ancl pay~able foi•th«•ith, ~ oi• tlle~~eafter, ~t the option uf said mortgagee, as full~~ and completel}~ as if all of the saicl sums of mone~• ~ j ~~~ere oi•ginalh~ stipulated to be paid on such day, any~thing in said iiote or in this mortgage to the contrai•~~ ; not«~ithstanding; and the~•eupon or thereafte?•, at the option of said mortgagee, ~rithout notice or demand, j suit at la«~ or ii~ eqt~it~•, ma~~ be prosecuted as if all moue~~s secured hereby had mature~ prior to its insti- i tution. The mortgagee mati• foreclose this moi•tgage, as to the amount so declai•ed due and payable, ancl ~ thr said premises shall be sold to satisfy and pa~• the same together ~eith costs, expenses, and allo~~•ances. l~i case of pai•tial f~~reclos~u•e of this mortgage, the mo~~tgaged premises shall be sold subject to the con- i tinuing lien of this moi~tgage fo~~ the amount of the ~iebt not then due an~ unpaid. In such case the pro- , cisions of this paragraph ma~~ again be a~•ailed of thcreafter from time to time b}• the mortgagee. I 10. That thc mortgagr~r n~ill gi~•e immediate notice b}• mail to the mortgagee of an}~ con~~e~•ance, ~ transfe~~, or change of o~~•nership of the premises. ~ ; ~ 1L That no ~~~aicer uf anv co~•enant herein or of the obligation secureci hereby~ shalt at any time ~ ~ thereafter be held to be a µ~ai~~er of the terms hereof or of the nute secured hereby. ~ 'I 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in ~ said note, then the mortgagee may perfurm the same, and all expenditures (ir,cluding reasonable attor- I 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 repayahle immediately and w•ithout demand by the mo~tgagor to th+e 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 t.o the owner of record of the mortgaged ' ~ premises, or d~rected to the said ow~ner at the last address actually furnished to the mortgagee, ar directed ~ to said aw~ner at said mortgaged 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 ~rovisions hereof or by law. 14. The mortgagor covenants and agrees that so long as this mortgage and the said note secured l hereby are insured under the pro~~isions of the Nationa] Housing Act, he wi11 not execute or fiie for record ~ any instrument which imposes a restriction upon the sale or occupancy of tne mortgaged property on the ! basis of race, color, or creed. Upon any violation of this undertaking, the mortgagee may, at its aption, , declare the unpaid balance of the debt secured hereby immediately due and payable. i ~ I • ~ ~ ~ ~ ` BooK1~8 ~ . _ . 208 ~