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Home My WebLink About1975 fines, or impositions, for w•hich provision has not been made hereinbefore, and in default thereof the mort- gagee may pay the same; and that he wili prornptly deliver the official receipts therefor to the mortgagee. 5. That he will permit, commit, or suffer no waste, impairment, or deterioration of said property or any part thereof ; and in the event of the failure of the mortgagor to keep the buildings on saia premises and those to be Erected on said premises~ or improvements thereon. in good repair, the mortgagee may make such repairs as in its discretion it may deem necessary f~r the proper preservation thereof, and the full amount of each and every such pa~ment shall be immediately due and pay~able, and shall b+e secured by the lien of this mortgage. 6. That he will pay all and singul~r the costs, charges~ and expenses, including reasanable la~+•yer's fees, and costs of abstracts of title, ~ncurred 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 co~•enants of said prom- issory note and this mortgage, and said costs~ charges, and expenses shall be immediately due and pay- 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 rnortgagee against loss by fire and other hazards, casualties, and contingencies in such amounts and for such periods as may be required by mortgagee, and will pay promptly~ when due, any premiums on such insurance for pay~mer.t of K•hich pro~•ision has not been made hereinbefore. All insurance shall be carried in companies appro~•ed by mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereta lo~s pa~•able clauses in favor of and in forrn acceptable to the mortgagee. In event of loss he ~~•ill gi~•e immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such laqs directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgage2 at its option e~ther to the reduction of the indebtedness hereby secured or to the restaration or repair of the property damaged. In e~•ent of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to any~ insurance policies then in force ahall pass to the purchaser or grantee. 8. That the mortgagee may, at ~ny time pending a suit upon this mortgage, apply to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forth~ti•ith appoint a receiver of 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 w•hich, it being expressly under- stoocl, 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 anyw•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 absolute right to said martga~gee, 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, 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 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 equivalent to one-twelfth of the aggregate of the twelve manthly installments payable in the then current year plus the actual ~mount of the annual taxes assessments, water rates, and insurance premiums far such year not covered by the aforesaid mont~ly payrnents. 9. That (a) in the e~~ent of an~~ brE~ach of this mortgag~ or +lefxult un the part of the rnortgagor, or t f,) i~i the e~•ent that v~~• ~~f said sums of mone~• hercin referred to be not p~•omptl~• and full~~ paid «'ith- uut dc~r;~atui or notice, or (c) it~ the e~•ent that eaeh ancl e~•er~• the stipulatic,ns, agi•e~ments, conditions, ancl c~~~~rnants of s~~icl ~iutE~ and this niortg~~ge, are not riui~•, ~>>•~~mptl~•, an~i full~~ performeci; tlien in eith~~r o~• a~~~~ sucii t~~•~~nt. th~~ saicl aggregatc~ sum m~~ntioiieci in sai~l »ote the~n rrmaining unpaid, ~~~ith inter~~st accruE~d to that time, and xll motie~~s secured hE~reb~•, shall t~ecome due and pa~•able foi•th~~•ith, c~r thercal'te?•, at tiic~ option uf saicl mortgage~~, as full~- ~incl completc~l~• as if xll uf t}ie said sums of rnone~• ~~~e~~•e o?•~inall~• stipiilated to 1~e ~~aicl oii such day, an~•thiiig iii saicl »ote oi• in this mortgage to the co~iti•ai•~~ not~~~ithstancling ; anci the~t•E~u~~oi~ or thereafter, at the optio~~ of' said mortgagee, ~~•ithout notice or demand, suit at la~~- or in equit~•, ma~• be prosrcutecl as if all mone~•s secured hereb~• had matured prior to its insti- tUCIOR. T}lE mortgagrc~ Ill~l~' {O1'ECIC~Se tI115 t7101~tgage, 2lS t0 1I1C atTiUllilt SO C~eClal'E'(I (jLIE all(~ p8y'ab~e, and tl~c~ said premise~ shall bc~ solcl te~ satisf~~ ancl pa~- the same to~ether «~ith costs, expenses, and allo~~•ances. In case of partial f~~r~~rlostu•c~ of this mortgage, the mm•tgagecl preit~ises shall be sold subject to the con- tinuing lien of this mo~•tga~r~ for the amount of the ~iebt »ut then ~iue antl iu~paid. In such case the pro- ~•isiotis of this pai•agraph ma~• again be a~•ail~~cl of thereafter From time to time b~• the mortgagee. 10. That t{ie mo?•tgagui~ ~~•ill gi~~e immediate notice b~~ mail tc~ thf~ mcn•t~a~ee of an~• con~•eyance, U•ai~sfe~•, or changE~ of o~~•nershi~~ of the pt•emises. 11. That no ticai~'er e~f ar~~~ cc~~~enant he~•ein oi~ of the ui~li~ation st~cui•ecl heret~y shall at an~• time thei~e~ifter be held to l~e a~ti'ai~~er of the terms hei•eof ot• of the note secu~•ed hereil~~. 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may ~erform the same, and all expenditures (including reasonable attor- ne~'s fees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured here}~y, and shall be repa~•able immediat~l;~ and w•ithout demand by the mortgagor to the 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 to the owner of record of the mortgaged ~ premises, or directed to the said ow~ner at the last address actuaily furnished to the mortgagee, or directed ta said owner at said mortgaged premises, and mailed by the United States mails, shall be sufficient natice and demand in any case arising under this instrument and required k~y the provisi~ns hereof or by law. 1~. The mortga~or covenants and agrees that so long as this mortgage and th~ said note secured hereby are insured under the provisions of the National ~iousing Act, he will not execute or file for record any in~t.rument which imposes a restriction upon the sale or occupancy of tne mortgaged property on the basis of race, color, or creed. U~n any violation of this undertaking, the mortgagee may, at its option, declare the unpaid balance of the debt secured hereby immediately due arid payable. BooK~~iO 1"i~i