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Home My WebLink About0485 t~~ finea, or impositions. for W hich provision has not been made hereinbefore. and in default thereof the mort- gagee may pay the same; and that he wili promptly deliver the official receipta therefor to the mortgagee. 5. That he will permit. commit~ or suffer no waste. impairment. or deterioration of said property or any part thereof ; and in the event of the failure of the mortgagor to.keep the buildings on sain prem~ses and those to be erected on said premises~ or improvementa thereon. m good repair. the mortgagee may make such repairs as in its discretion it may deem nece~sary for the proper preservation thereof. and the full amount of each and every such payment shall be immediately due and payabte. and shall be secured by the lien of thia mortgage. 6. That he will pay all and singular the costa, charges. and expenses. including reasonable la~yer's } fees. and costs of abstracts of title~ incurred or paid at any t~me 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 ahall be secured by the lien of this mortgage. That he will keep the improvements now existing or hereafter erected on the mortgaged propert~~, ~ inaured as may be required from time to time by the mortgagee against loss by fire and other hazards, casualtiea. and contingencies in such amounts and for such periods as may be required by mortgagee~ and will pay promptly. when due. any premiums on such insurance for pa~~ment of K hich provision 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 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 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 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 mortgage or other transfer of title to the mortgaged prnperty in extinguishment oi the indebtedness secured hereby. all right, title, and interest of the mortgagor in 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 uppn 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. including all and singular the income. profits. issues, and revenues fmm whatever source derived~ each and every of which. it being expressly undei•- 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 efTective functions and powers in anyKise 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 insolvency 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 conrt. 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 amonnt at least equivalent to one-twelfth (!12) of the aggregate of the twelve monthly installments 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 (a) in the e~•eut of an~• Ureach of this moi•tgage or default o~? tlic part of the moi•tgagor. oi• l L) in the e~•ent that au3• of said sums of mone~• hei•ein referred to be not pi•omptly and full~• paid ~~~~th- out demand or uotice. or (c) in the e~•ent that each and e~•er~ the stipulations. agreements, conditions, ~I and co~•enants of said note and this mortgage. are not duty, p~~,mptl~•. and [ull~• performed; then in i E'ILIIf'1• or an~ surh e~•ent. the said aggregate sum me:itioned in said note thc~i r~~maining unpaid~ ith ~ ~ interest acerued to that time, and all mone~•s secu~-ed hereby. shall become due and payable forth~~ ith, ~ or thereafter, at the optio» of said mortgagee, as full~• and completel~• as if all of the said sums of mone~~ , ~~•ere orginall~- stipulated to be paid on such day, anything in said note or in this mortgage to the contrary ~ not~~•ithstanding; and thereupon or thei•eafter. at the option of said mo~~tgagee. a•ithout notice or demand. ~ suit at la~~• or iu equit~~, may Ue proseeuteci as if all moneys seeureci hereb~ had matured prior to its insti- tution. The mortgagee may foi•eclose this mortgage, ~s to tl~e amount so declared due and payable. and ~ the said premises shall be sold to satisfy and pa~• the same togethei• ~~•ith costs. expenses~ and allo~rances. In case of partial foi•eclosui•e of this mo?•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 and unpaici. ln such case the pro- ~•isions of this paragn•aph ma~ again be a~ailed of tl~ereafter from time to time b~~ the mortgagee. 10. That the mortgagor ~~'iU gi~e immeciiate notice by mail to the mortgagee of any con~•eyance, ; transfer. or change of ou•nership of the premises. ~ 11. That no waiver of any covenant herein or of the oUligation secured hereUy shall at any time thereafter be held to be a waiver of the terms hereof or of the note secureci 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 shall 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 accreiing 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 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 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 ~tnd payable. , - BOOK ~.43. 484 _ ~ - - _ - . ~ ~ :a r - . ~ . _ ~