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Home My WebLink About0157 fines, or impositions, for w•hich pro~~ision has not been made hereinbefore, and in default thereof the mort- gagee may pay the same; and that h~ will promptly deliver the uflicial receipts therefor to the mortgagee. 5. That he will permit, commit, or suffer no w aste, impairment, or deterioration of said propert~• or any part thereof ; and in the evetit of the failure of the mortgagor Lo keep the buildings on said 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 for the proper preservation thereof, and the ~ull amount of each and every 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 fully to perform the agreements and co~•enants of said prom- issory note and this mortgage, and said costs, charges, and expenses shall be irnmediately 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 property, insured as may b~ required from time to time by the mortgagee 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 payment of H•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 thereto loss pa~~able clauses in favor of and in form acceptable to the mortgagee. In event of loss he w'ill gi~'e immediate notice by mail to mortgagee, and mortgagee ma~~ make proof of loss if not made pramptl}~ by mortgagor, ~nd each insurance company concerned is hereby authorized and directed to make payment fo?• such loss directly to mortgagPe instead of to mortgagor and mortgagee jointly, and the insurance proceeds, ar any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness }?ereby 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 mortgaged property in extinguishm~nt of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to any ~nsurance 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, aUply to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forthw•ith appoint a recei~•er of the premises co~~ered hereby all and singular, including all and singular the income, profits, issues, and revenues from whate~~er source derived, each anc~ e~~ery of w•hich, 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 shail have aq the broad and effective functions and pow•ers in an~•H•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 mortgagee, and w•ithuut reference to the adequac~• or inad- equacy of the value of the property mortgaged or to the solvency or insol~•enc~• of said mortgagor or the defendants, and ~hat surh 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 c~ demand as a reason- able monthly rental for the premises an amount at least equivalent to one-tw•elfth of the aggi•egate of the twelve rnonthly installments pa~~able in the then current year plus the actual amount of the annual taxes assessments, ~~ater rates, and insurance p.remiums for such year not co~•ered by the aforesaid mont~ly payments. 9. Th~~t (a) iii th~~ e~t~nt ~~f illl}' V1'l'11CI1 U1 l}11S 117U1'l~;age ur ~l~~f~u~lt ~~ii tlie part of the mo~~tgago~•, oi• i 1~? in the t~~~~~nt that <in~~ ~,f said sum, c~f munc~~~ herc~in refer~•ed te, be not pr~~mptl~~ anci fully paid ~~~ith- ~~ut ci~~ma~ul e>r nc~tic~~. ~~r (c•) i» the ~~~~ent that c~ach and ~~~•er~~ thc~ stipt~lati~~~~s, ag~reements, eonditions, ;tn~l c~~~~~na~~ts i~f s~ticl n~.~t~~ an~l this rn~~rt~agt~. ai•e tu~t <lul~~~ t~rumptl~~, ancl f'ull~• perforn:eci; t!~en in ~~ith~~r c>?~ ~in~~ ;u~~l~ r~~~•nt. tl~~~ sai~i a~,rgrE~gatr sum m~~ntionecl i» sai~l nutc th~~n r~~maining unpaid, «~ittl intf~r~~st areru~~cl t~~ that time, at~cl all mun~~~~s st~cured h~~r~~b~•, shatl beeumE~ cfue ancl pa~~able forth~rith, ~~i~ tlie~•t~~~t'tt~~•, ~it th~~ uptiuu ~~1~ saicl mu?•t~;age~~, as full~~ a~lci romplef~~l~~ as if all uf the saici sums of mone~~ ~~rt or~;in~ll~~ sti~~ulate~i tc~ l~e ~~aicl on such cla~•, an~•ihing in sai~l nute or in this m~~rtgage to the contrar~• n~~t~~•ithstan~ii~~g; alul thc~re~u~~~ui u~• thereafter, at the option uf' said mortgagee, ~~~ithout notice or demand, suit at la~~~ or i~i ec;u;t~•, r~ia~• k~e prusecuteci as if all m~n~e~•s seClll'C'(~ I1C1'E'b~~ had maturt~cl pric~r to its insti- ttitioil. Th~> moi•tgRt.{E'~~ rua~• for~elose this mortgag~~, ilS tl) tI1C ~iIllvUtlt so c~rclai•ed clue ar~rl pa~•able, arici tlu~ saicl prc~mi~.~~ sl~ali bf~ solci t~~ satisf~• ancj pa~~ the same tog~~thE~r ~~~ith costs, expE~nsE~s, and allo«•anees. In c.ise c~f ~~a~•tial fur~~cl~>surc~ ~~f this mortgagf~, the m~n•tgag~~cl premis~~s shall bc solcl sub,ject to the ec~n- tinuing lien ~~f this mort~ag~~ fu~• the ~~minit~t of the ~lel~~t nut then ciu~~ an~i tu~pai~l. ~n such ~ase the pro- ~ isi~~ns uf this paragraph ma}• again b~~ a~~ailE~cl of tl~~~reafte~• f~~c,m timr~ tc, tim~~ b~~ t{ie m~rtgaKee. 10. 'I'hat th~~ tiit~i•tga~ut• «'ill ~i~'t~ i~rm~~cliatc~ nnticcr I~t~ mail t~~ th~~ ~r~urtgtige,~ ~~f at~~• cc~t~~t~~-atiee, transfer. or ch~nge uf u~~~ne?•ship of the premises. lI. Th~it n~~ ~~~ai~~er uf an~• c~~~~~~nant i~t`1'EIII u~~ of the c~i~li~,ra~ion `c~c~urecl hereh~• shall at an~~ time ~iierc~after ~~e iiel~i t~~ 1>e a~t~ait~er of the termti hereof or of tli~ n~~te secured i~ereb~•. 12. Th~~t if the mortgagor default in any~ of the cavenants or agreements contained herein, or in said note, t~lE'Il the mortgagee may perform the same, and all ex~>enditures (including reasonable attor- ne}•', fees) made by the mortgagee in so doing shall draw- interest at the rate set f~rth in the note secured her~~hy, and shall be rep~~•able irnmediately and w~ithout demand by the mortgagor to the mortgagee, and, togrtiier with interest and costs accruing therean, shall be secured by th~s mortgage. 13. That the mailing of a written notice or demand addressed to the uwner of record of the mortgaged ~~rer~~i,e~, or directed to the said ow•ner at the last address actually furnished to the mortgagee, or directed to saici o~i~ner at said murtgaged premises, and mailed hy the Ur~it~:d States mails, shall be sufficient notice at~d dernand in any case arising under this instrument and required by the pro~•isions hereof or by law. 1-~. The moi•t~agor co~•enants and agrees that so long as this mortgage and the said note secured hereby~ zre insur•ed under the pro~•isians ~~f the i~'ational Itousing Act, he will not execute or file for record anv iristrument which imposes a restriction u~~on the sale or occupancy of tne mortgag~d pi•opertt• on the i~asis of race, color, or creed. li~~on any violation of this undert:~king, the mortgagee may, at its option, declare the ~m~~aid t;alance of th~ debt secured hereby immediately due and payable. ' ~,J~. aooK 1~3~