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Home My WebLink About1617 ` % ~ •~4 ~1.. •~i fines, or impoaitiona. for which provision ha8 not beon made heraiubefore. and in default thereof the mort- ~agee may p~y the same; and th~t he will promptly deliver the oflicial receipta therefor to the mortgagee. 5. That he will permit. commit~ or suffer no waate, impairment. or deterioration of said property or anyp~ thereof; and in the event of the failure of the mortgag~+r to keep the buildinga on sain prem~ses and ~t?ose to be erected on said premises. or improvementa thereun. in good repair, the mortgagee may make auch repaira aa in ita discretion it may deem necessary for the proper preservation thereof, and the full amonnt of each and every such payment ahall be immediately due and payable. 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 laH yer's feea. and costa of abstracts of t~tle~ incurred or paid at any time by the mortgagee because of the failure on the psrt of the mortgagor promptly and fully to perform the agreements and covenants of said prom- issory note and this mortgage. and sa~d costa. chargea. and expenaes ahall be immediately due and pay- able and ahall be secured by the lien af this mortgage. 7. That he will keep the improvementa now existing or hereafter erected on the mortgaged property. inaured as msy be required from time to time by the mortgagee against loss by fire and other hazards. casualties. and contingenciea in such amounts and for such periods as maj? be required by mortgagee. and wiU pay promptly. when due~ any premiums on such inaurance for }~ayment of Nhich pro~ ision has not been ma~e hereinbefore. All insurance shall be carried in companies apprnved 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 mortg?agee instead of to mortgagor and mortgagee jointly. and the insurance proceeds. or ahy part thereof~ may be applied by mortg?agee st its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the prnperty 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 right, title. and interest of the mortgagor ~t~ and to any insurance policies then in force shall pasa 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 juriadiction thereof for the appointtnent 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 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 functions and powers in anywise entruated 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 value of the property mortgaged or to the aolvency or insolvency of said mortgagor or the defendanta, 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 cour~ In the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reason- able monthly rental for Ehe premisea 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 actual amount of the annual tazea aasessments, water rates~ and insurance premiuma for such year not covered by the aforesaid mont~ily payments. 9. That (a) in the e~•ent of an~~ breach of this mortgage oi• default on the part of the mortgagor, or (L) in the e~~ent that an~~ of said sums of money heirin i~eferred to be not promptiy and fuUy paid ~cith- out demand or uotice. oi• (c) in the e~ent that eacli and every the stipulations. agi~eements, conditions, j and co~•enants of said note and this mortgage. are not duiy, pi~umptly, and full~~ performed; then in ~ either or auy surh erent. the said aggregate sum mentioned in said note then r~maining unpaid, ith { interest accrued to that time, and all moneys secured hereby, shall become due and payable forth~~•ith, i or the?•eaCtei•~ at the optio~i of said moi~tgagee, as full~• and completely as if all of the said sums of money ~ u•ere oi•ginall~• stipulated to be paid on such day~ anything in said uote or in this mortgage to the contrary ~ uot~rithstanding; and the~•eupon or thereafter, at the option of said moi~tgagee. ~cithout notice or demand, suit at la~~• or in equit~~, may 1~e prosecuted as if all moneys secw•ed hereby had matured prior to its insti- tution. The mortgagee may foreclose this mortgage, as to the amount so declared due and payable. and the said premises shall be sold to satisfy and pa~~ the same together ~~•ith costs, expenses, and allowances. In case of pai•tial foreclosui•e of this moi~tgage. the mortgagecl premises shall be sold subject to the con- tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the pra ~•isions of this paragraph may again be a~ailed of tl~ereaftei• from time to time b~~ the mortgagee. 10. That the mortgagoi• ~~•ill gire immediate notice b~ mail to the mortgagee of any conveyance. transfer, or change of o~~•nership of the premises. i 11. That no waiver of any co~enant herein or of the obligation secured hereby shall at any time i thereafter be held to be a waiver of the terms hereof or of the note secui•ed 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 expenditnres (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 accruing thereon, shall be secured by thia 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. arid mailed by the United States mails, shall be sufi'icient notice and demand in any case arising under this insttument and required by the prt~visions 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 occupancy of tne mortgaged property on the basis of race, color. or creed. Upon any violation of thia undertaking. the mortgagee may. at its option. declare the unpaid balance of the debt secured hereby immediately due and payable. ~ 800K145 4~.5 - x ~ <<~.y- ~ _ ~ _ ~ R°~:--- _