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Home My WebLink About0131 fines, or impositions, for µ•hich pro~•ision has not been made hereinbefore, and in default ther~f the murt- ~agee m~y pay the same; and that he w~ill prornptly deliver the official re~eipts therefor to the mortgagee. 5. That he will permit, commit, or suffer no wastc~, impairment, or deterioration of said propert~• or any part thereof; and in the event of the failure of the mortgagor to keep the buildings on sa~d pren~ises and those to be erected on said premises, or improvements thereon, in good repair, the mortgagec ma~• make such repairs as in its discretion it may deem nec~ssary 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 reasona~le 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 fully to perforrn the agreements and co~•enants of said prolti- issory note and this mortgage, and said costs, charges, and expenses shall be immediately 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 o?i the mortgaged propert~~, in~ured as may be required :rom time to time b~~ the mortgagee against loss b~• fire and other hazards, casualties, and contingencies in such amounts and for such periods as may be required by mortgagee, and will pay promptiy, ~•hen due, any premiums ~n such insurance for pa~•ment of w•hich pro~•isi~n iias not been made hereinbefore. All insurance shall be carried in companies appro~•ed b~• mortgagt~e and the policies and reneH•als thereof shall be held by mortgagee and ha~~e attached thereto loss pa~~able clauses in fa~~or of and in form acceptable to the mortgagee. ln event of loss he «•ill gi~•e immediaLe notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptl~• by mortgagor, and each insurance compan~~ concerned is hereby a~thorized and ciirected to rr?ake pa~~ment foi• such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, at~d the insurance pi•oceeds, or any part thereof, may be applied by mortgagee at its option either to the reductic,n of the in~iebtedness hereby secured or to the restoration or repair of the property damaged. In e~~ent of foreclosure of this mortgage nr other transfer of title to the mortgaged property~ in C'?CtlllgUiSIlI71F~i1C of the lii(~(Fjte(~T1f~S secured hereby, all right, title, and interest of the mortgagor in and io 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, apPl~~ to the court ha~•- ing jurisdiction thereof for the appointment of a receiver, and such cour•t shall forth~i•ith appoint a recei~~er of the premises co~;ered hereby all and singular, including all and singular the iricome, profits, issues, and revenues from w~hate~•er source derived, each and e~•ery of µ•hich, it. being expressly undei•- stood, is hereby mortgaged as if specifically set forth and described in the grant~ng aiicl haUendum clauses hereof, and such receiver shall have all the broad and effecti~~e functions and powers in c'~il~'~5'1SQ entrusted by a court to a recei~~er, and such appointment shall be made by- such court as an acimitted equity and a matter of absolute right to said mortgagee, and K•ithout reference to the adequac>• or inaci- equacy of the ~~alue of the property mortgaged or to the solvency or insol~•ency of said mortgagor or the defendants, and that such rents, profits, income, is~ues, and revenues shali be applied by such recei~•er accordirig 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 c~ demand as a reason- able monthly rental for the premises an amount at least equ~valent to one-tw•elfth (!1-~) of the aggregate of the twelve monthl~• installments pay~able in the then current year plus the artual amount of the annual taxes assessments, ~~'ater rates, and insurance premiums for such year not co~•ered b~~ the aforesaid mont~ly payments. 9. 'I'h~it (a) i?i thE~ e~~~~nt uf a~i~• I~i•e~t~it ul' tilis ?tw~'tt.,r<~ge t~t~ ~lt~f<<ult un the~ pai•t uf tlit~ mo?•tga~ui•, i 1~ ) i» th~~ c~~~ent th~it an~: ~~f s<zid sums c~f mc~nf~~• her~~in r•efe~•reei tc, bf~ i;~,t ~~r~,m~rtl~~ and full~• paicl ~~-ith- ~~ttt ci~~~t~ati~l ur nutir~~, ui• (c~) i~i the t~~~~>>it that eacl~ ancl t~~~~~~~~• tht~ ~ti~~ulatiu»s, agreem~~nts, cunclitic,i~~, ui~~l cu~c~iants c~f s<~icl i~~~tt~ a~~ci tiiis m~~rt~,rage, ar~~ nut ciu1~-, ~,rum~~tl~~, ancl t'ull~~ pf~rfc>>•i~ircl; then i~: t~ithi~r c~r ~~n~~ sucl~ ~~~~~~i?t, tl~~~ s~~icl ti~,*~;r~~K~?t~~ sunt m~~~ition~~cl in saici nut~~ th~~ii rciliilllllll~? unpaici, ~~'ith intrrrst accrued t~~~ that tinif~, an~l all munc~~~s ~t~rui•ed ht~reb~~, sh~ill f~E~cumt~ ~lue an~l pa~•able foi•th~~~ith, ~~r tiic~~•~~aCtt~r, at th~~ c~ptic~n uf ~~ri~i murtgagez~, «s full~• ancl compl~~t~~l}- as il~ all ~~f th~~ saici sums of mont~~~ ~~~~~r~~ urginall~~ stiE}ulatecl t~~ h~~ ~~si~l o~i such cia~~, an~•thing in sai~l nc3tc~ l)1' 1!1 t~11S I1101't~age to the contra?•~- ?ot«~ithstaniling; ~~n~l thc~r~~u~~un ur thereafter, at the option uf sai~l m~~rtgage~, ~~~ith~~ut nc~tice or demand, suit at la«~ ur iu t~~~tiit~~, ma~~ I~e pruseeitteci as if ali m~~ne~~~~ sectu•~~ci lier~~b~~ had ntatur~cl priot' to its itisti- tutio~l. The mo~~t~,r<i~;t~e m~i~~ fo~•eeit,se this mort~agc~, <is tu tlie arnuunt so ~irc•la~•e~ci diie and pa~'able, an~l th~~ ::aicl prrmise; ;!:<?ll b~~ ;~~Icl t~~ ~atisf~~ ancl pa~~ the samE~ togethe~i• ~~~ith costs, e~l~c~nsc~s, and allc~«~a~ic•~~s. lii case oC ~~arti~~l t'~n~~~clr,surt~ ~~f this mortgage, the m~~i•tgag~~~l prt~mist~s shall t,~e sul~i subjeet t~~ the con- tinttit~~ lir~n t~f this ~tt.~rt~,r~i~;~~ fur th~~ .tmuunt of th~~ ~i~~bt not thei~ du~~ anri tn~pai~i. I?i such case thc~ pro- ~~;~iuns of this pa?•agrapli ma}• a~ain be a~-ail~~~i of thereafte~• fr~~m ti~ie t~~ time b~• th~> mort~agec~. 10. Tiiat ti~t~ iitu~•tga~~nt• ~~-ill gi~~e immeciiatc~ n~~ticf~ mail t~~ th~~ murt~a~,rE~~~ e~f an}- cc~n~e~~ancc~, u~a»>Cei•, oi• chan~;e uf ~~~~•itership uf ttie pi~emises. 11. That nu ~+~ii~-er uf an~- c~n-en<int h~~rein uf the ~,hli~atiun ;c~c~~n•t~cl hc~reh~~ ::ht~ll at an~• time thereafter ~~e hei~t to he a~,~ai~~er uf tV~~e terms }lc~re~,f or oi ti~e nute secured here?~~•. 12. That if the rriortga~or default in any of the covenants or agreements contained herein, or in sa~d note, then the mortgagee may ~~erform the same, and all expenditures (including reasonable attor- neti's fees) made by' the mortgagee in so doing shali cira~~~ intere~t at the rate set forth in the note secured here}~~•, and shall be repa~-able immediately~ and ~ti~ithout demand b~~ the martgagor to the mortgagee, and, together with interest and costs accruing thereun, shall l~e secured by this mortgage. 13. That the mailing af a written notice or demand addressed to the owner of record of the mortgaged prernises, or directed to tiie said ow~ner at the last adc~ress actually~ furnished to the mortga~ee, or directed to said ow~ner at said mortgaged premises, and mailed by the United States m~tils, shal? be sufTicient notice and demand in an5• case arising under this instrument and required by the prm•isions hereof or by law. 14. Tlie mortgagor co~~enants and agrees that so long a.~+ this mortgage and the said note secured herebv are insured under the prcn•isions c,f the tiationa] 3iousin~ Act, he w~ill n~t e~ecute or file ~or rec~rd anti' instrumerit w~ich'iin~xi~~s ret;t~F~b~:'d~fk'Yfie or ~cupari~+y o~ ti~e morfgage~;`property~ on the ba~is of race, color, or creed. Upon any violation of this undertaking, the mortgagee inay, at its option, decilre the un~,aid balance of the ciebt secured hereby immediately due and pa~•able. . . 800K 131 125 ~