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Home My WebLink About1405 fines, or impositions, for H~hich pro~•ision t?as not been made hereinbefore, and in ciefault thereof the mort- gagee may pay the sartte ; and that he will promptly deliver the officia~; receipts therefor to the murtgag~e. 5. That !~e will permit, commit, or suffer no waste, impairment, or deterioration of said propert~• or any part thereof ; and in the e~•ent of the failure of the mortgagor to keep the buildit~gs on saici pi•emises and those to be erected on said premises, o: improvements thereen, in good repair, the mortgagee mal• make such repairs as in its discretion it may deem necessary for the proper p~eser~~ation thereof, and the full amount of each and every such payment shall be imrnediately due and payable, and shail 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, incurred or paid at any time by~ the martgagee because of the faifure on the part of the mortgagor promptly and fully to perform the agreements and co~•enants of saici prom- issory note and this mortgage, and said costs, charges, and expenses shall be imtnediately due and pa~•- 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 propert>•, insured as may be required from time to time by the mortgagee agair?st loss b~• fire and other hazards, casualties, and contingencies in such amounts and for such periods as ma>• be required by rnortgagee, and will pay promptly, when due, any premiums on such insurance for pa~•ment of H•hich pro~~ision has not been mad~ hereinbefore. All insurance shall be carried in companies appro~•ed b~• mortgagee and the policies and renew~als thereof shall be held by mortgagee and hace attached thei•eto loss pa~•able clauses in favor of and in form acceptable to the mortgagee. In e~•ent of loss he a•ill gi~~e immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made prornptly by mortgagor, and each insurance company concerned is hereby authorized and directed to make pay~ment foi• such loss directly to mortgagee ir~stead of to mortgagor and mortgagee j^~ntly, and the insurance proceeds, or any part thereof, may be applied by mortgagee at i~s option either to the reduction of the inc~ebtedness hereby secured or to the restoration or repair of the property damaged. In e~~ent of foreclosure of this mortgage or other transfer of title to the martgaged property in extinguishment of the i:~debtedness secured hereby, all right, title, and intereat 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 an>' time pending a suit upon this mortgage, appl~• to the court hav- ing jurisdiction thereof for the appointment of a recei~•er, and such court shall forth~~•ith appoint a receiver of the premises covered hereby all and singular, including all ant~ singular the income, profits, issues, and re~enues from w•hate~~er source derived, each and every of w•hich, it being expressl~~ 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 effecti~~e functions and poH•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 abs4lute right to said mortgagee, and ~•ithout referencF to the adequac~~ oi- inaci- equacy of the value of the property mortgaged or to the solvency or insolt•ency of said mortgagoi• oi• 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 e~•ent of an~~ default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the *nortgagee c~ d~manci as a reason- able monthly rental for the premises an amount at least equivalent to one-tK~elfth of the aggi•egate of tt~.e twelve monthly instailments pa~~able in the then current year plus the actual amount of the annual taxes assessments, w•ater rates, and insurance premiums for such year not covered by the aforesaid mont~ly payments. 9. That ) in the c~~ent uf an}~ br~~~1CI1 IIL~ t~11S l11U1't~il~'.,C UF lll~fault un the part of t}?e m~rtgagor, or t l~) in tfr~~ c~~e~tt that an~~ ~~f' s~~ici sums ~~f muner hE~reiti referi•t~ci tu be nut pr~~m~~tl~~ and fuil~~ paid «~ith- ~,ut cic~man~l ui• nutic~~, c>>• iii the E~~~Ent that ~~acL ai2d e~-er~• tht~ stipul~tti~~?~s, agrf~eme~its, cunditions, ,in~l c~~~~•~~a»ts c,i s.iicl nc~t~~ anei this murtg<~g~~, arf~ n„t cluiti•, l~rumptl~-, ancl full~~ pe~•formed; tliett in ~~iiVl~~l' ul' itll\' ~UCII ~~~~~~nt, thc~ sai~l .i~gr~~~ate si~m n~~•utiu!iecl iii s<;i~l nut~~ thf~n r~~millillllg unpaid, ~~~itt~ intt~rt~st actrued tu t~~at tim~~, anci all miinc~)'s sE~.tirecl hE~r~~b~•, siiall ~~rume clue ancl pa~•able foi•th~~-ith, thc~i~eattt~~~, at th~~ ~~~~ti~~u ~~f saicl mc~i•tga~ce, as full~• ai?cl com~~let~~l~~ as if all ~~f the sai~l sums of n:o?~e}- ~~rc~ ur~,r!lliill~' SII~)lllatt~ci t~~ {~c ~>aici oil such dat•, ai~~~tl~i»g ii~ sai~i i~utc or in this 1tl(~l'1.R'1gl' to the cuntrar~~ uc,t~~~ithstan~ling; an~l thc~r~~u~u~~~ U1' t}ll'I'~RftCi', at ti~e ~,ptio:i uf said mortgagee, ~~~ithout notice or ~lemand. ;uit at la~~- oi• in E~c~uit~~, n?a}• k~t~ prosc~rutecl as ii all mu~ie~~~s seeii~•c~ci iiei•eb~• hacl matui~ecl p?•ioi• to its insti- tutio». The morlga~;r~~ n~a~• fc~?~ecl~„e this mortgagr, as tu the amoiiiit so cleclai•e~i clue an~l pa~•able, ancl th~~ saicl prt~mis~~: sh~ill bE~ solcl tu satisf~~ an~l ~~a~- thc~ samt~ toge~thc~r ~~~it}~ ec~sts, c~xix~nses, and alio~ti-anees. In casc~ oi ~>artiai furE~closur~~ c~,'' this mortgagf~, thc~ rn~~rtgagecl I~remis~~s sh~ili he solcl subjeet tc, the con- ll11U111~ ~l~~n ~~f this nu~rt~;a~;~~ fc~r tl~c~ am~nu~t of the ~l~~bt ~~ot thc~i~ ciu~~ i~ll(~ IIIIOfll(l. IIl SUC}l Cc`1SC t~l(' ~IYG- \'IS10113 ()t t~11S j)ill'2ij;1'~l~)}1 /11S\' ~1~3111 ~E' ~1\'<il~t~cl of th~~l'('illtl'e f~•om tlillE' ±l~ t1i11E' ~l~' tflE' 111C~1'tg1~CE'. 1~. ~'ililt f~it' IllO1't~{iiK~~l' ~\'i~~ ~,'~~'l' Illlitlt'(~1~ltC' IlUtl('l' Illiil~ tU t~lt' It101'tF,'~~f;C'l' (~f i1111' COTl\'E'~'c~I1C(', t~•atl;iei•, oi~ c~ian~e ~>f ~~~~•?~~~~~shi~~ uf the pr~~misc~s. 11. That n~~ ~1'R1~'El' ~~t i111~' C(r\'t'il2lilt Ilf'rE~in ~~r uf the ~~hligation ~E'C~al'E'(j }7EI'E'~1~' S~liill at an~~ time thei~eafter• !~e hel~i t~~ I~e a«'.ii~~ei• of t}ie ~er•m~ he?~euf oi• of t}ie note secure~l here~~}~. 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- ne~-'s fees} r?1ade by the mortgagee in so doing shall c~r~i~~ interest at the rate seL fot•th in the note secured herel,~•, and shall be repa`~~ible immediately and µ~jth~~ut demand b~~ the mortgagor to the mortgagee, and, together with interest and costs accruing thereon, shall be s~eured by this mortgage. 13. That the mailin~ of a written notice or demand addressed to the owner of record of the mortgaged prE'T7114E'S, Ol' CI11'eCted to the said owner at the last addre~s actually furnished to the mortgagee, or directed i tu said o~t~ner at s~~id mortgaged premises, and ?iiailed i~y' the United States mails, shall i~e sut~'icient notice ' and dem~nd in anr~ case arising under this in~trument and reyuired by~ the provisions hereof or by law. 14. The martgagor co~•enants and agret~s that so long as this mortgage and the said note secured herel~y are insured w~der the pro~-isions of the Nationai Itousing Act, he w~ill not execute or file for record anti• instrument ~•hich impc,ses a restriction upor. the sale or occupancy of tne mortgaged propert~• on the basis of i•ace, color, or creed. Upon any violation of this undertaking, the mort~agee ~i~ay, at its option, declare the un~~aid }?aiance of the deht secured hereby in~rnediately due and payable. ~