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Home My WebLink About1311 fines, or impositions, for which pru~•isioii has not been ma~e hereir~befure, and in default thereof tht~ mur•t- gagee may pay the sanie; and that he K~ill proruptly deli~~er the offiicial receipts therefor to the moi•tgagee. 5. That he w~ill permit, comrnit, or suffer no waste, impairment, or deterioration of said proper•t~• or ariy part thereof ; and in the e~•ent c~f the failure of the mortgagor to keep the buildi~igs on saici pr~'IliiSeS and those to be ereeteci on said premises, or impro~•ements thereon, in gcwd repair, tile moi•tg~ige~~ rna~~ make such .repairs as in its discretion it may deem necessary for the proper preservation thereuf, and the full amount of each and every such payment shall tx immediatel~• due and pa~•aule, and shall be secured by the lien of this mortgage. 6. That he will pay all and singular the costs, charges, and expenses, including reasoriable la~~~y~er's fees, and costs of abstracts of title, incurred or paid at an~• time by the mortgagee because of the failure on the part of the mortgagor promptly and full~~ to perform the agreements and co~•enants of said prom- issory note and this mortgage, and said costs, charges, and expenses shall be imrnediatel~~ due and pa~~- able and ahall be secured by the lien of this mortgage. - 7. That he will keep the improvements now• existing or hereafter erected on the mortg~ged propert~•, insured as may be required from time to time l~~• the mortgagee against loss b~• fire and other hazards, casualties, and contingencies in such amovnts and for such periods as ma>~ be required by mortgagee, and will pay promptly, when due, any premiums on such insurance for pa~~ment of H~hich pro~•ision has not bE~en made hereinbefore. ~11 insurance shall be carried in companies :i})~1'l)\'('d b~~ mort~agre and the policies and renew•als thereof shall be held by mortgagee and ha~•e attached ihei•eto loss pa~•at71e ciauses in fa~•or of and in form acceptable to the mortgagee. In event of loss he ~~~ili gi~•e imrnediate notice by mail to mortgagee, and mortgagee ma~• make proof of loss if not made promptly by mortgagor, and cach insurance company concerned is hereby authorized and directed to make payment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and ihe insui•ance prc~ccecis, oi• auy part thereof, may be applied by mortgagee at its option either to t}~e reduction of the indebtecjness hereby secured or to the restoration or repair of the property damaged. In e~•ent of fot•eclosure of this mortgage or other transfer of title to the mortgaged property in extinguis}YmF~nt of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to an~• insut•ance policies tlien in force shall pass to the purchaser or grantee. S. 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 recei~•er of the premises covered hereby all and singular, including all and singular the income, profits, issues, and revenues from ~•hate~~er source deri~ed, each and e~~er~• of v~hich, it being expressly under- stood, is hereby mortgaged as if specifically set forth and described in the g~•antinR and habendum clauses hereof, and such receiver shall have all the broad and etffecti~~e functions and pow•ers in an~•~~•ise entrusted by a court to a recei~•er, and such appointment shall be made b~• such court as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the ~dequac~~ or inad- equacy of the value of the property mortgaged or to the solvency or insoi~~ency~ r~f said mortgagor or the defendanLs, and that such rents, profits, income, issues, and re~~enues shali 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 pa~~ to the mortgagee cn demand as a reason- able monthly rental for the premises an amount at least equivalent to one-t«•elfth of the aggreg~te of the twelve monthly installments pa~yable in the then current year plus the actual amount c,f the annual taxes assessments, ~~•ater rates, and insurance premiums for such year not co~•ered b}~ the aforesaid mont~ly payments. 9. "I'h.tl (u) in thE~ ~~~.~~~tt uf an}- V~rE~~tch ~~C this murt~;akv ur ~I~~C~tult un ih~~ p<u•t uf th~~ II101'tg~lgUl', o?• I1~) in th~~ f~~~t~nt th.it .ui~~ ut~ :aicl sum~ uC munf~~ I~~~ra~in rc~f~~rr~~~i tu bt~ n~,t pr~m~ptl~~ anci f'ull~• paid ~~-ith- uut ~icn~i~~~i~l nr ur,tic~~, ur 1;•) ii~ th~~ t~~~~~nt that ~~arl~ an~l ~~~-t~r~~ th~~ sti~~ulati~n~s, aK~rc~t~nu~n~s, c~~n~~itic~ns, <<r:l r<i~~~i~:u~ts ~~t~ s~~i~l i~nt~• an~l this murt~;.tg~~. <u•E~ uut clttf~~. ~>rv~m~~tl~~. anii f~~ll~~ pc~rf~,rmecl; tlien in l'Itflt`1' ~)1' illl\' ~Ul{1 t'\t'llt. ~~1(' ti~~l~i ~i~;~,rl't'}~r:lti' Si1111 Illt'lltlllllC(1 I11 ti~lil~ IlUtt' fEll`11 l't'ill~lllllll~, Llll~)illt~, \\'lt~l intt~r~•,t arcruccl tu that tim~~, <in~i all nu~nt~}~` .«~cur~~i1 h~~rf~b~', shall lx~cumf~ ciue anci ~~a~•ablE~ forth«~ith, ui~ th~~r~~aCtr~~~. .it th~~ ~~~iti~~~~ ~~t s~ii~! m~~rt~,ragc~~. .is Iull~~ ~ui~l con~pl~~t~~i~~ as if ~tll u~ tht~ s<iid ~ums of mo~~c}~ ~~r~~ u? ~Ci~l'<111~~ ~ii]~ulatE~~i tc~ I,~~ ~r~i~i c,» such cla~•, <Ilit'~Illllf; lil S~tl~~ 11Ut1' O1' 111 tI115 1'tlO1•tgagE~ tc~ ttie conU•a~•~~ n~at~~'itl~st~uuli~ig; ~u~~l th~~r~~u~~un ~~r thE~re~aft~~r, at th~~ uption ~~i~ sai~l mortgagec~. ~~~ithout natice or ciemand, suit at la~~~ ~>r in ~~~{uit~~, :na~~ i~t ~~rc~sc~cut~~cl as if all m~nu~}•s sf~ctu•~~~1 herel~~• had mattu•eci E~rior to its insti- tutiun. Th~~ »>u~~t~;ll~.,rt'~' n~~i~- fc~r~~rln,t~ this moi•tgag~~, us t~~ tl~c anwunt sc~ ci~~clarc~ci ciu~~ anci pa~•able, ancl tl~~~ ~aict pr~~mist=: si.~<ill i~,~ s~,l,l t~~ s~itisf~' t~ntl pt~~~ tl~e~ sarnc~ to~t~thr~i~ «~itil c~sts, ez>>f.~nses, a~~d allo«~atic~~s. In cas~~ ~~f partial fun~cl~,~i~n~ ~,f this ~nurt~a~;~~, thf~ m~,i•tgagt~~i pr~~mis~~s shall be> s,~i~l sub.ject to t}:e c~~n- titiuit~g lit~n ~~f thi: »~nrt~,ragt~ f~>r th~~ ar~u~unt uf th~~ ~l~~i~t n~~t th~~n ~li~f~ a~~~l ~u~pai~i. I~i such c~tse the p~•o- ~ isi<~n~ ~~1~ this para~raph tita}• agai» }~e a~•aii~~~l u1~ tl~~~reaftt~i• }'~•um ~im~• t~, timt~ 1~~• th~~ m~~rtgage~. 10. 'fhat th~~ nu~rt~,~a~;~~r ill ki~~E~ i?nm~~cliate nuticE~ l~~- m<?il t~~ tli~~ rn~,rt~;a}~f~~~ ~~F an~- i•cm~t~~~ance, t~<it~sfer. ~~r chxn~t~ ~~f u~~~?it~r,hi~i uf ti~~~ ~~rt~rnises. ll. "I'it~.t n~~ ~~~ui~~er ~~f <~n~~ c~~~~~~nunt ilE~rein ~~r uf tlie ~~Vili~.~ti~~t: sectn~E~i her•ei~~- sli<ill at ar~}• tiitte thereafter f~e h~~l~i t~~ h~~ x~~'ai~~er ~~f ?ht~ term• he~•evf or of the nnte secuZ•e~i herel~t•. 12. That if the mortgagor default in any of the co~•enants or agreements contained herein, or in said nute, then tiie mortgagee mas' ~~erfurm the same, and all expenditures (incl~~di~~ reasunable attor- ne~•'s fees) made by' tI1Q ill(~I't~a~ee in so doing shall dr.i«~ intere~t at the rate set forth in ttie note secured hei•el~y~, and shall be rep<i~•able immediatel~• and `ti~ithui~t demand i~5~ the ?tiortgagor to the rnortgagee, and, tvgether with interest and costs accruing there~~n, s!-iall l~e secured by this moi•t.gage. 13. That the mailin~ of a w•r~itten notice or demand addressed to the owner of record of the mortgaged premi:;es, or directed tc> the said o«~ner at the last address actuall~• furnished to the mortgagee, ar directed to said cnti'ner at said nu~rtgaged }~remises, and m~iileci 1~~• the United States mails, shall be sutticient notice and demand in any case arising under this instrument and required by the pro~•isions hereof or by law. 14. The mortgagor co~~enants and a~rees that su long this nwrt~age and the said note secured hereb~~ are insured under the pros•isi~,rs ~>f the National ~Icnising Act, he H•i!1 not e~ei:ute or file fc~r recurd anti• instrument w~hich im~x~::es a re~triction t~~~oi~ the sale oi• occu~~anc~• of ti~e n:ort~a~ec~ pi~upert~• on the hasis of racr:, c<~lor, ur creed. U}>on anti• ti~ioiatic,n of this undert:+kin~, the murt~a~ee ,nay, at its option, declare the unpaici halanct~ of the ~ieht secured herehy immedia~el~• due anci p<i~~al~le. aa~K 233 10~