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Home My WebLink About1364 fines. or impositions~ for H•hich provision has not been made hereinbefore~ and in default thereof the mort- gagee may pay the same; and that he will promptly deliver the of~'icial receipta therefor to the murtgagee. 5. That he will permit, commit, or suffer no waste. impairment~ or deterioration of said propert~• or any part Lhereof ; and in the e~ent of the failure of the mortgagor to keep the buildings on aairi premises and those to be erected on said premises. or impmvements thereon. in good repair~ the mortgagee ma~• make such repairs as in its discretion it may deem necessary for the proper preservation 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 will pay all and singular the costs. charges. and expenses. including reasonable la~~•yer'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 shail 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 progert~~~ insured as may be required from time to time by the mortgagee against loss by fire and other hazards. casualt~es. and continp•~ncies in such amounts and for such periods as may be required by mortgagee. and will pay promptly. when diie~ any premiums on such insurance for pa~ ment of Which pro~•~s~on has not been made hereinbefore. All insurance shall be carried in companies appro~ ed by mortgagee and the pol~cies and renewals thereof shall be held by mortgagee and ha~e attached thereto loss pa~•able clauses in favor of and in form acceptable to the mortgagee. In event of los.~ he N ill gi~•e immediate notice by mail to mortgagee~ and mortgagee may make proof of loss if not made promptl~~ by mortgagoi•. and each insurance company concerned is hereby suthorized and directed to make payment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds. or anypa rt thereof~ may be applie.i by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this morigage or other transfer of title to the mortgaged property in extinguishment of the indebteclness secured hereby. all right~ title, and interest of the mortgagor in and to any insurance policies then in foree shall pass to the purehaser 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 co~ered 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- 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 fanctions and po~ers in an~•Kise 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 adequacy or inad- equacy of the vnlue 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 receirer 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-t~elfth (!12) of the aggregate of the twelve monthly instaliments payable in the then current year plus the actual amount of the annual - taxes assessments~ water rates, and insurance premiums for such year not covered by the aforesaid mont~ly payments. ' 9. That (n) in the e~•ent of an~• breach of this mo~•tgage or ~l~fault on the part of the mortgagor. or ' 11~) in the e~•ent that an~• of said sums of mone~• heccin referred to be not prompth• and full~• paid ~~~ith- ~ uut demaiid oi• »otice, o?• (c) in the e~•ent that each and e~e~•~• the stipulations, agreements, conditions, ; and co~•enants of said note anci this mortgage, are not duly. promptly, and fullr perfo~•med ; then in ; eithcr or an~~ surh e~~ent, the sai~l aggregate sum mc~ntioned "u? sai~l iiote then remaining unpaid. ~~•ith ; interest accrued to that time, and all mone}•s secureci hereby, shall become due and pa~•able forth~~•ith, ~ ur thereafter~ at the option uf said mo~•tgagce. as full~• and complet~l~~ as if all of the said sums of mone~• ~ ~~-ere orginall~• stipulated to be paid on such da~~, an~•thing in saiel note or in this mortgage to the contrar~• ~ uot~~•ithstanding; and the~•cupon or thereafte~•. at the option of said mortgagee. ~~•ithout notice or demand, ~ suit at la~~- or iu equitt•, ma~~ be prosecutecl as if all mone~•s secured hereb~- had matured prior to its insti- ~ tution. The mortgag~ mat~ foreclose this mo~~tgage. as to the amount so declared due and payable, and ~ thc~ said premises shall be sold to satisf~• and pa~• the same together ~~•ith costs, expenses, and allo~~•ances. . ~ In case of partial f~?rerlosure of this mortgage, the mo~•tgagecl premises shall be sold subject to the con- 2 tinuing lien of this mortgage for the amount of the ~lebt not then ~1ue an~l unpaid. In such case the pro- ~ ~-isions of this pa~•agraph ma~• again be a~•aile~l of thereafter from time to time b~• thc~ mortgagee. 10. That the mortgagur ~~-ill gi~•e immecliate notice b~• mail to the mortgagec~ of an~~ con~•e~-ance, s trauster, or change of o~~-nership of the premises. ~ ~ 11. That no ~~-airer of an~• co~•enant he?•ein or of the obligation secured hereby shall at an~• time ~ thereafter be held to I~e a~~•ai~•er of the terms hereof or of the note secured hereby. ~ 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- ~ ncy's fees) made by the mortgagee in so doing shall draw interest at the ratP set forth in the note secured ~ hereby, and shall be repa~•able immediately and without demand by the mortgagor to the mortgagee, and, ~ together with interest and costs accruing thereon, shall t~e 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 actually furnished to the mortgagee, or directed to said owner at said mortgaged premises, and mailed by the United States mails, shall be sufficient notice and demand in any case arising under this instrument and required by the provisions hereof or by law. ; - 14. The mortgagor covenants and agrees that so long as this mortgage and the said note secured ; hereby are insured under the provisions of the National Iiousing Act, he w ill not execute or file for record t any instrcment which impc,ses a restriction upon the sale or occupancp of tne mortgaged propert~ on the ~ basis of race, color, or creed. Upon any violation of this undertaking, the mortgagee may, at its option, a dedare the unpaid balance of the debt secured hereby immediately due and payable. ~ ~ ~ ~ ~ r ~ ~ ~ 60GK 141 161 . ~ ~ ' - : r __w___ w~ u. > z ~:=tx