The URL can be used to link to this page

Home My WebLink About0127 c fines. or impositions. for which provision has not beeq ruade hereinbefore~ and in default thereof the mort• gagee m~y pay the same; and that he will pmmptly dellver the oflicie~l-receipta therefor to the mortgagee. b. That he will permit, commit, or suffer no waste, impairme:~t~ 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 thoae to be erected on said premiaes~ or improvementa thereon. in good repair~ the mortgagee may make such repairs aa in its discretion it may deem n~cessary 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 ot thia mortgage. 6. That he will pay all and singular the coata. charges, and expenses. including reasonable taH yer's ` feea. and costa of abatracta 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 agreem~nts and covenants of sa:d prom- issory note and this mortgage, and said costs, charges, and e~cpensea ahall be immediately due and pay- able and ahall be secured by the lien of thia mortgage. That he will keep the improvements now existing or hereafter erected on the mortgaged propert~. insured as may be required from time to time by the mortgagee against ioss by fre and other hazards. caaualties. and contingenciea in such amoynt$ and ~or such periods as may be required by mortgagee, and will pay promptly, when due, any premiums oin _such inaurance for ~ay ment of v?hich provision has not been made hereinbefore. All insurance ahall be carried in compames approved by mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto loss pa~•able clausea in favor of and in form acceptable to the mortgagee. In event of loss he will gi~e immediate notice by mail Lo mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor. atid each inaurance company concerned is hereby authorized and directed to make payment for such losa directly to mortgagee instead of to mortgagor and mortgagee jointly~ and the insurance proceeds. or anypa rt thereof. may be applied by mortgagee at ita 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 mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby. all righ~ title, and interest of the mortgagor in and to any insurance policies then in force ahaA pasa to the purchaser or grantee. 8. That t,~?e mortgagee may. at any time pending a suit upan this martgage, apply to the court hav- ing jurisdiction thereo~ for the appointment of a receiver. and such court ahall forthwith appoint a receiver of the premises covered hereby all and singular, including all and singuiar the income~ profits, isaues. and revenues from whatever source derived~ each and every of which, it being expressly under- stood. is hereby mortgaged as if apecifically set forth and described in the granting and habendum clauses hereof. and such receiver shall have all the broad and effective functiona and powers in anywise entruated by a court to a receiver, and such appointment ahall be made by such court as an admitted equity and a matter of absolute right to said mortgagee. and withont reference to the adequacy or inad- equacy of the vale~e of the property mortgaged or ta the solvency or insolvency of said mortgagor or the defendants, and that such rents, profits. income. issuea. and revenues shall be applied by such recei~er according to the lien of this mortgage and the practice of such courk In the event of any default on the part of the mortgagor hereunder, the mortgagor agreea to pay to the mortgagee on demand as a resson- able monthly rental for the premises an amouat at least equivalentto one-twelfth (1i12) of the aggregate of the twelve monthly installments payable in the then current year plus the actuat amount of the annuai taxea sasessments. water rates, and insurance premiums for such year not covered by the aforesaid mont~iY AsYments. 9. That (a) in the e~•ei~t of an3• breach of this mortgage or default on the part of the mortgagor, or ( L) in the e~ent tltat an~• of said sums of money heirin i~eferred to be not promptly and fuily paid ~~~ith- uut demand oi• uoti~e. oi• (c) in the event that eacl~ and evei•y the stipulations~ agreements~ conditions. and co~•enants of saicl note and this mortgage, are not duly, p~~umptly-. atld fullr performeci; then in eithei• oi• any sttrh erent, the said agge•egate sum mentioned in said notc theu r~maining unpaid. ~~•ith interest accrued to that time, and all monea~s secured hereby. shall become due and papable forth~~•ith, o~• thereatter, at the optio~i of said mortgagee, as full~• and completely as if all of the said sums of mone~• u•ere oi•ginaU~~ stipulated to i~e paid on such day~ anything in said tiote oi• in this moi•tgage to the contrar~~ notu•ithstanding; and the2•ee~po~~ oi• thei•eaftei•, at the option of said moi•tgagee. «ithout notice or demand, suit at la~~• or in equity, may be prosecuteci as if all moneys secured hereb~ had maturecl prior to its insti- tution. The mortgagee may foreclase this mortgage. as to the amount so declared due and payable~ anc~ the said premises shati be sold to satisfy and pa~• the same togethei• ~rith costs, expenses, and allo~~ ances. ~ In case of partial foreclosu~•e of this mortgage, the moi•tgaged premises shall be sold subject to the con- ; tinuing lien of this mortgage for the amount of the ~iebt not then due anci unpaid. In such case the pro- ~ ~ isions of this paragraph may again be a~~ailed of thereafter from time to time b~~ the mortgagee. ~ 10. That the mortgago~• ~~•ill give immediate notice b~• mail to the mortgagee of any con~•eyance, ~ U•ansfe~•. or change of oa•ne~~ship of the premises. ~ 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time ~ thereafter be held to be a waiver 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- ~ ney's fees) made by the mortgagee in so doing ahall draw interest at the rate set forth in the note secured ~ hereby, and shall be repayable immediately and without demand by.the mortgagor to the mortgagee, and, together with interest and costs ~ccruing thereon, shall be secured by this mortgage. F 13. That the mailing of a written notice or demand addressed to the owner of record of the mortgaged t premises, or directed to the said owner 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, sha11 t~e suflicient notice ~ and demand in any case arising vnder this instrument and required by the provisions hereof or by law. s 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 Housing Act, he will not execute or file for record ~ any inatrument which imposes a restriction upon the sale or occupancy of tne mortgaged property on the ~ basis of race, color. or creed. Upon any violation of this underts?lcing, the mortgagee may~ at ita option, ~ declare the nnpaid balance of the debt secnred hereby immediately due and payable. f ~ ~ ~ ~ e g~OK 1'tJ ~ - ~ ~ `r ~ ~ ~r ~ '`a 'S~",.,`~+~. .r F- i4. a~a~^~f`~