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Home My WebLink About0479 . ~ fines. or impositions, for which provision 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. 1 i 5. That he will permit. commit. or suffer no waste. impairment. or deterioration of said property or any part thereoi; and m the event of the failure of the mortgagor to keep the buildings oii said premises ~ and those to be erected on said premises~ or improvements thereon, in good repair. the morigagee may s 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 p~yment shall be immediately due and payabte. 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 ~ feea. 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 covenants of said prom- issory note and this mortgage, and said costs~ charges, and expenses shall be immediately due and pay- ~ able and ahall be secured by the lien of this mortgage. 7. That he will keep the improvements now existing or hereafter ~rected on the mortgaged prnpert~. inaured as may be required from time to time by the mortgagee against loss by fire and other hazards. casualtiea. and contingencies in such amounta and for such periods as may be required by mortgagee~ and will pay promptly, when due. any premiums on such insurance for payment of K hich pro~ ision has ' not been made hereinbefore. All insurance shall be carried in companies appro~ ed by tnortgagee and ~ the policies and renewals thereof shall be held by mortgagee and have attached thereto loss pa~ able clauses in favor of and in farm acceptable to the mortgagee. In event of loss he will give immediate notice by mail to mortgagee. and mortgagee may make proof of loss if not made promptly by mortgagor. and each insurance company concerned is hereby authorized and directed to maice payment for such loss directly to mortgagee instead of to mortgagor and mortgagee jointly~ and the insurance proceeds, or anypa rt thereof, msy be applied by mortgagee at its option either to the reduction of the indtbtedness hereby secured or to the reatoration or repa~r of the prnperty damaged. In event of foreclosure of this t mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then 'in force ~ ahall pass to the purchaser or grantee. ~ r 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 forthwith appoint a receiver of the premises covered hereby all and singular. inciuding ali and singular the income. pmfits. issues, and revenues from whatever 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 powers in an~ vrise entrusted by a court to a receiver. and such appointment shali be made by such court as an admitted equ~ty and a matter of absolnte right to said mortgagee, and without reference to the adequacy or inad- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendanta, and that such rents. profits, income, issues, and revenues shail be applied by such receirer 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 agreea to pay to the mortgagee cn demand as a reason- able monthly rental for the premises an amount at least equivalent to one-twelfth (!12) of the aggregate of the twelve monthly instaliments payable in the then current year plus the actuai amount of the annual taxea assessments, water rates~ and insurance premiums for such year not covered by the aforesaid mont~ly payments. 9. That (a) in the e~-ei~t of an~ bi•each of this moi•tgage or ~lefault on the part of the moi•tgagor~ oi• 1 G) in the e~•ent that an~• of said sums of mone~• herein referred to be not promptl~• and fully paid ~~-ith- out demand or notice, oi• (c) in the e~ent that eacli and e~•et•~~ the stipulations. agreements. conditions, and corenants of said note attd this mortgage. are not duly, prumptl~•. and ful1~• performed; then in eithe2• ot• au~~ such e~•ent, the sai~l aggregate sum m~ntioned in said ~iote tlicu remaining unpaid, ~rith interest accrued to that- Lime, and all mone~~s secured hereby, shall become clue and payable forth~~•ith, oi• theti•eafter, at the optioi~ o[ said mo~•tgagee, as full~• and completely as if all of the said sums of money ~~•ere orginall~• stipulated to be paid on such ciay. an~•thing in said note or in this mortgage to the contrary noh~ ithstanding; and thereupou or thereafter. at the option of said moi~tgagee. ~~•ithout notice or demand, suit at la~r or i~i equit~•, may be pi•osecuted as if all mo~ie~rs secured hereby had matureci prior to its insti- 3 tution. The mortgagee may foreclose this moi•tgage, as to tlie amount so de~lai•ed due and payable, and ~ the said premises shall be solci to satisf~~ and pa~• the same together ~rith costs, expenses, and alloH ances. ~ In case of partial forerlosuti•e of this mortgage. the mortgagecl premises shall be sold subject to the con- ~ tinuing lien of this moi•tgage for the amount of the clebt not then due anci unpaid. In such case the pro- ~ isions of this parag?raph ma~ again be a~ailed of ti~eceafter from time to time bt• the mortgagee. 10. That the mo~•tgagor ~~•ill gi~•e immediate notice b3• mail to the mortgagee of any con~•eyance, ~ transfer. or change of o~~•nership of the premises. ~ 11. That no w•aiver of any covenant hei•ein or of the obligation secured hereby shall at any time thereafter I~e held to be a w•aiver of the terms hereof or of the note secw•ed hereby. ~ !2. That if the mortgagor default in any of the covenants or agreernents contained herein~ or ia ' 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 shail draw interest at the rate set forth in the note secured = hereby, and sha11 be repayable immediately and without 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 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~ shall be suf~'icient 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 Housing Act, he will not execute or file for record any instrument which imposes a restriction upon the sale or occup~?ncy of tae mortgaged property on the basis of race, color~ or creed. Upon any viotation of this undertaking, the mortgagee may, at i~a option, declare the unpaid ba~ance of the debt secured hereby immediately due and payable. BooK 143 4 7`8 - ~ . - x.~~ N~~ _ - r : ti~~~