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Home My WebLink About1806 ~ • Rnes. or iinpoaitions. for which provision haa not been made hereinbefore~ and in deiault thereof the mort- ~agee may pay the aame; and that he wiil promptly deliver the ot'flcisl receipts therefor to the mortgagee. b. That he will permit, commit, or suffer no waste, impairment, or deterioration of said properq: or An,y part thereof; and in the event of the failure of the mort~agor to keep the buildings on said prem~ses ~nd thoae to be erected on said premiaes. or improvementa k ereon~ in good repair. the mortgagee may make such repairs as in ita discretion it may deem neceasary for the pmper preservation thereof. and the ! full amount 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 lawyer's feea. and costa of abstracts of t~tle~ incurred or paid at any time by the mortgagee because of the iailure on the pairt of the mortgagor promptly and fully to perform the agreementa and covenants of said prom- issory note and thia mortgage, and said costa, charg~~ and p.apenses ahall be immediately due and pay- able and ahall be secured by the lien of thia mortgage. 7. That he will keep the improvementa now existing or hereafter erected on the mortgaged property, inaured aa m~y be required from time to time by the mortgagee against losa by fire and other hazards, caaualtiea. and contingenciea in such amounts and for such periods as may be required by mortgagee, and wiU pay promptly, when due. any premiuma on such insurance for ~ayment of W hich provision has ' not been made hereinbefore. All insurance ahall be carried in companies approved by mortgagee and the policies and renewala thereof shal! be held by mortgagee and have attached thereto loas pa~•able R clauses in favor of and in form aceeptable 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 ia hereby authorized and directed to make payment for such loas 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 indebteclness hereby secured or to the reatoration 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 right, title. and interest of the mortgagor in and to any insurance policies then in force shall pasa to the purehsaer or g=antee. 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, including all and singular the income. profits. issuea. and revenues from whatever source derived each and every of which~ it being expressly under- stood. is hereby mortgaged aa if specifically set forth and deacribed in the granting and habendum clauses hereof, and $uch rece~ver shall have all the broad and effective functiona and powers in anyv~ise 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 solvency or insolvency of said mortgag~or or the defendanta, 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 courk 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 the premises 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 actuai amount of the annual taues assessments, water rates, and inaurance premiuma for such year not covered by the aforesaid montfily payment8. 9. That (a) in the e~•ent of any breach of this mo2•tgage or default on tl~e pai-t of the mortgagor, or ~ ( G) in the e~•ent that a»~• ot said sums of mone~• herein i~eferred to be not pi•omptly and fully paid ~4ith- ~ out demand oi• notice, oi• (c) in the e~ent that eacl~ and eve~~? the stipulations~ agreements, conditions. ~ and co~enants of s~tict note and this mortgage, are not duty, pi~umptly, and fulh• performed; then in eithei• or a~~y sucl~ eteiit. the said agg~•egate sum mentioned in sai~l notc then r~maining unpaid~ ~~~ith interest accrued to that time, and all moneys secured hei•eby. shall become due and payable forth«ith. o?• thereafter. at the option ~f said mortgagee, as fuUy and completel~~ as if all of the said sums of money ~~•ere orginaily stipulatect to Ue paid on such day, anything in said note or in this mertgage to the contrary ~iot«•ithstanding; and thei•eupoti or thei•eafter. at the option of said mortgagee, ithout notice or demand, suit at la~~ or in equity, ma~~ be prosecuted as if all moneys secured hereby had matui•ed prior to its insti- tution. The mortgagee may foreclose this moi~tgage. as to tlie amount so declared due and payable. and the said premises shall be sold to satisfy and pay~ the same together ~~•ith costs, expenses, and a1loKances. !n case of pat~tial foi•eclosui•e of this moi~tgage, the moi-tgaged premises shall be sold subject to the con- tinuing lien of this mortgage foi• the amount of the debt not then due and unpaid. In such case the pro- ~•isions of this paragraph ma~ again be availed of thereafter from time to time by the mortgagee. ~ 10. That the mo~•tgagoc ~~•ill give immecliate notice b~• maii to the mortgagee of any con~•eyance. ~ ti•ansfei•, or change of o~~•nei•ship of the premises. ! Il. That no waivei• of any covenant hei~ein or of the obligation secured hereby sha11 ai any time ~ thereafter be held to be a w•aiver of the terms hereof or of the note secured hereby. I2. That if the mortgagor default in any of the covenants or agreementa containeci 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, tagether with interest and costs accruing therean, 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 sufl5cient 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 Lhe National Housing Act, he will not execuUe or file for record any instrnment 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 undertaking, the mortgagee may, at its option. declare the unpaid batance of the debt secured hereby immediately due and payable. ~1~ 4 ~ - _ . _ _ - f., _ i