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Home My WebLink About1410 . ~~C.` ` ~ fines, or impositiotis, for w~hich pro~~isicn has not been made hereinbefore, and in default thereof the mort- gagee may pay the same; and that he w•ill promptly deli~~er the official receipts therefor to the rr:ortgagee. 5. That he 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 mort~raqor to keep the buildings on said premises and those to be erected on said premises, or improvemenLs thereon, in good repair, the mortgagee may make such repairs as in its discretion it may deem necessary for the proper preservation thereof, and the full amount of each and e~~ery such payment shall be~ immediately due and payable, and shall 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 mortgagee because of the failure on the part of the mortgagor promptly and fuliy to perform the agreements and co~•enants of saiii prom- issory note and this mortgage, ai~d said costs, charges, and expenses shall be immediately due and pay~- able and shall be secured by the lien of this mortgage. That he will keep the improvements now• existing or hereafter erected on the mortgageci propert~~, insured as may be required from time to time by the mortgagee against loss b~~ fire and other ha~ards, casualties, and contingencies in such amounts and for such periocis as may be reczuired by moi•tgagee, and w•ill pay promptly, when due, any premiums on such insurance for pa~•ment of ~~•hich pro~•ision has not been made hereinbefore. All insurance shall be carried in companies appro~•ed b~• mortgagt~e and the policies and renewals thereaf shall be held by mortgagee and have altached tl~ereto loss pa~•able clauses in favor of and in form acceptable to the mortgagee. In event of loss he ~~•ill g'i~•e immediate notice by mail to mortgagee, and mortgagee may~ make pruof of loss if not made promptl~• by mortgagor, , and each insurance company concerned is hereby authorized and dicected to make pa~•ment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance praceeds, or any part thereof, may be applied 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 e~-ent of foreclosul•e of this mortgage or ather transfer of title to the mortgaged property~ in extinguishmAnt of the indebtedness secured hereby, all right, title, and interest af the mortgagor in and to an~~ insurance policies theii in force shali pass to the purchaser or grantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, appl~• to ttie court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forth«~ith appoint a recei~•er of the premises covered hereby all and singular, including all and singular the income, profits, issues, and revenues from whate~•er sovrce derived, each and e~~er~• of w•hich, it being expressly undei•- stood, is hereby mortgaged as if specifically set forth and described in the granting aiid habendum clauses hereof, and such receiver shall have all the broad and effective functions and po~•ers in an~•«•ise entrusted by a courC to a receiver, and such appointment shall be made by such caurt as an admitted equity and a ma~ter of absc~lute 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, and that such rents, profits, income, issues, and revenues shali be applied by~ such receirer 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 t~ pay to the mortgagee c~ demand as a reason- able monthly rental for the premises an amount at least equivaient to one-tw•elfth of the ag~i•egate of the twelve monthly instaliments pa~•abie in the then current year plus the actual amount of the annual taxes assessments, w~ater rates, at~d insurance premiums for such yesr not co~•ered by the aforesaid mont~ly payments. 9. That ) in the t~~~e~it c~f an~• l~r~~ach ~~f this murtgage ur ~l~~fault u~? t!ie pxrt of the mortgagor, ur 1!,) in t}~e e~~ent th<it ~in~- ~~f said sums uf m~~nc~~• hE~re~in ~•eferred ta be not promptl~• and full~• paid ~~~ith- ~~ut ci~~manci or uutic~~, ur (r) in tht~ t~~•ent that ~~ach and e~•ei•~~ the stiPulati~,ns, agre~ments, conditions, .incl c~~~~E~na~its c~f s,iicl nut~~ anci this murt~agE~, are turt duly', 1>rumptl~ , anci full~- perfo~•meci ; then in ~~itht~r ur an~~ sucl~ ~~~-~~?~t. thf~ sai~i a~;~,rrc~gat~~ ~um m~~ntic~ne~l iii sai~l nut~~ thE~n r~~maining ui~paid, ~~•itli intere~st ~ieerut,ci tu that timf~, and all m~~nE~~~s srrureci hc~rf~b~•, shail t~~come citje ~incl pa~~able forth<<~ith, ~~i~ the~~ral'tE>>•, at th~~ ~~ptici?i uf~ ~ai~l mortgagf~c~, as full~• ~inci completc~l~• 1s if ~ill ~~f thc~ saici sums of mr.~rzc~~~ ~~~~~re ur~inall~~ sti~~ulatecl to ~~e ~riid on st~ch cia~•, an~~thing i~~ sai~l n~~te oi• in this mortgage to the cuntrar~~ not~~~ithstancii»g; 2111(I t}lt'1't~u~~un or thert~after, at the option of s~iicl mortg~~gee, ~~~ithout notice or ciemand, suit at la«~ or in equit~~, ma~~ be proserutecl as if all mon~~~-s secur~~cl hc~reb~- had matui•e~i prior to its insti- tUh011. Tllt' mortg~i~;c~~~ ma~• fo~•rcluse this mo~~tgag~~, as tu thr amutint so cit~rl~irtci ciue anci pa~•able, anci thc~ saici prrmisr• shall b~~ solci tu satisf~• and pa~• the same togethE~r ~~~ith costs, e::i,E~nses, and all~~~~~ances. In case of partial t'~~r~~closu}•e of this mortgage, the m«~•tgagf~~l p~•rmises shatl bE~ solcl subject to the c~~n- tinuin~ lieti (1f tIlIS lllOi't~'ag~~ fo~• the am~~unt of the ~if~bt nc~t thrn du~~ ~i?ul iu~paici. In sueh case the pro- ~'ISlU1lS Of tlliS par~lj~'1'Z~)I1 ill~l}' ~~;'filll bt' a~~ailc~cl c~f thc~reafter fi•om timc~ t~~ time b}~ the mortgagee. 10. That tht' Rl(11't~;ag~n~ ~~~ill ~i~~t~ immeciiatc> nuticE~ 1~}~ mail tc; tht~ mrn•t~a~;ec~ ~~f an~- c~on~~e~•ance, tr<~n;f~~r, or chai2ge ~~f c,~~•»e?~ship of the pre~mises. 11. Tlia± ne~ ~~~ai~~er ~~f an~• c~~~~~nant 1iE~rein vi• of the ul~ligiit1~111 secui•eci herel~~• sh~ill at ~in~~ time thei•eaftei• l~e helci to I,e ~ti'ai~'er of the terms ~ll'1'E~if UI' Uf fllt' tl()te ~ecut•eci liei~ei~~•. 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~'a fees) made by the mortgagee in so doing shall draµ~ interest at the rate set forth in the note secured hereby, and shall be repay~able immediatety and K•ithc~ut demand b~• the mortgagor to the mortgagee, and, together with interest and costs accruing thereor?, shall l~e secured by this mortgage. 13. That the mailing of ~ w•ritten notice or demand ad~jressed to the owner of record af the mortgaged ~ premises, or directed to the said owner at the last address actually furnished to the mortgagee, or directed to said ow•ner at said m~~rtgageci ~~remises, and mailed by the United States mails, shal! be s~:flicient notice and demand in any case arising under this instrument and required by~ the pro~~isions hereof or b~-1aw. 1~. The mortgagor covenants and agi•ees that so long as this mortgage and the said note secured hereby are insured under the pro~~isions of the ~ational ~Iuusing Act, he w•ill not execute or file for record an~• instrument which imposes a restriction upon the sale or occupancy~ of tne mortgaged pt•opert~~ on the basis of i•ae~, c~ak,r .v~;,~d • ~ at?y.~, ~,vt~t~r of.t~~s ttndevt~q,~K~~~;e;~nr~~y9rppay, at its option, declare the lanpaid~fia'~"ance o~~de~~t securec~~fiereTiy immediately'due and payable. . , - . gooK 129 2i1