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Home My WebLink About1359 fines. or impositions. for K hich provisio~~ has not been made hereinbefore~ and in default thereof the mort- gagee may pay the same; and that he will promptly deliver the official receipta therefor to the mortgagee. 5. That he will permit. commit~ or suffer no waste. 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 said premises and thwe to be erected on said premises. or improvements thereon. in good repair. the mortgagec ma~• make such repairs as in ita discretion it may deem necessary for the proper preservat~on thereof~ and the full 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 ~ ill pay all and singular the costs. charges. and expenses. including reasonable la~~•yer's feeg~ 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 immediately due and pay able and shall be secured by the lien of this mortgage. 7. That he will keep the improvements noK existing or hereafter erected on the mortgaged property. insured as may be 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 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 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 H ill gire immediate notice by mail to mortgagee. and mortgagee may make proof of loss if not made promptl~• by mortgagor, and each 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 the insurance proceeds, or any part thereof~ may be applied by mortgagee at its option either to the reduction of the indebteclness hereby 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 extinguishment of the indebtedness secured hereby, alt right, title. and interest of the mortgagor ~n and to 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. apply to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forth~~ ith appoint a receiver of the premises covered hereby all and singular~ including all and singular the income, profits. issues. and revenues from wnatever source derived, each and every of which, 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 shall have all the broad and effective functions and po~ers in an~•~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 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 shall be applied by such recei~•er according to the lien of this mortgage and the practice of such court. In the event 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 (!1z) of the aggregate of the twelve monthly installments payable in the then current year plus the actuai amount of the annual taxes assessments, water rates, and insurance premiums for such year not corered by the aforesaid mont~ly payments. 9. That (c~) in the e~•ent uf a~i~• b~•earh of this moi•tgage or ~l~~fault u~i the part of the mo~•tgagor. or 11~) in the e~•ent that an~• of saici sums of mone~• herein referred to be not prompth~ and fulh• paid ~i-ith- out demand or notic~, or (c) in thc~ e~•ent that earl~ and e~•er~• the stipulations, ag~•eements. conditions. ; an~l co~-enants of said note and this mortgag~. are n~>t dul~•. promptl~•, and full~• perfo~•mecl ; then in ; cither or auc suc{~ e~-~ nt. the sai~1 aggregate sum m~~ntioned in said uote then rrmaining unpaid, ~~•ith ! interest acci•ued to that time, and all mone>•s serureci hereb~•, shaU lxcome due and pa~•able foi•th~~•ith, ; or thereafter, at the option ~if said mortgagee, as full~• and completel~~ as if all of the said sums of mone~- j ~~-ere orginalh• stipulated to be paid on such dat~, an~•thing in said uote or in this mortgage to the conti•ai•~- ~ uot~~•ithstanding; and thc~reupon or thereaftei•. at the option uf said moi•tgagee, ~~•ithout notice o~• demand. suit at la~~• or in ~~uit~-, ma~• be p?•ost.~cute~l as if ali mone~•s secw•eci hei•eb~• had matured prior to its insti- ~ tution. The mortgagee ma~- fo~•eclose this mortgage, as to the amount so declared due and payable, and Q the said p~•emise~ shall be sold to satisf~• and pa~- the same together ~~•ith costs, expenses. and allo«•ances. ~ In rase of partiai forerlos~ur of this moi•tgage, the mortgaged premises shall be sold subject to the con- tinuing lien of this mortgage for the amount of the ~lebt not then due an~l unpaid. In such case the pro- cisions of this paragraph ma~• again be a~•ailed of thereafter fi•om time to time b~• the mortgagee. 10. That the mortgagur ~~~ill gi~'e immediate notice b}• mail to the moi•tga~ee of an~• con~•e~•ance, transfer, or change of o~~•ne~•ship of the premises. 11. That no w•ai~~er of an~• co~•enant herein or of the oUligation secured hereby shall at any time thereafter be heid to I~e a H•ai~•er of the terms hereof or of the note secm•ed hereb~~. 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~•'s fees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured ~ hereby, and shall be repas•able immediately 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 oH•ner at the last address actually furnished to the mortgagee, or directed = to said oH ner at said mortgaged premises, and mailed by the United States mails, shall be suflicient notice and demand in any case arising under this instrument and required by the provisions hereof or by law. ~ 14. The mortgagor co~•enants and agrees that so long as this mortgage and the said note secured ~ hereby u*e insured under the provisions of the National Housing Act~ he will not execute or file for record any instrument which imposes a restriction upon the sale or cecupancy of tne mortgaged property on the ~ basis of race, color, or creed. Upon any violation of this undertaking, the mortgagee may~ at its option~ ~ declare the unpaid balance of the debt secured hereby immediately due and payable. ~ i'= ~ ~ ~ ' s_ ~ BooK141 ~ ~ ~ ~ _ . : _ . x.~_ _,5..v _ . . _ _ . , . ~.r~~~ s ~