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Home My WebLink About1965 . { ~ ~ • • a. C~ ~ 7 \J, flna. or impoeitions. for v~ hich proviaion has not beea made hereinbcfore. and in default thereof the mort- ga~ee may p~?y the sune; and that he will pro~mpt~y deliver the otflciAl receipta therefor to the raortgagee. 6. That he will Dermit. coinmit~ or suRer no waste. impairment, or deterioration ~of aaid property or snypart thereoi; and in the event of the failure of the mortga~or to.keep the buildinga on said premis~ and those to be erected on said premiaea, or improvementa tFiereon, ~n aood reps?ir. the mortgagec may make such repaira as ia ib diacretion it may deem neceasary for the proper preservation thereof, and the iull amount oi each and every auch payment shall be imnaediately due and payable, and shall be secured by the liea of tltis mortgage. 6. That he will pay ~11 su~d aingular the coets. charge~. and expens~. includi t.~g reasonable laK yer's iees, snd oosta 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 tfl perform the agreements and covenants of said prom- iasory note and this mortga~e, and said costs. chargea~ and expen8ea shal! be immediately due and pay- able and ahall be aecured by the lien of thia mortgage. 7. Tlut he will keeF the impmvements now existing or hereafter erected on the mortgaged property~ inaured sa m~? be required imm time to time by the mortgagee agsinst losa by flre and other hazards. caaualties. and contiagenei~ in such amounta and for such periods aa may be required by mortgagee~ and wiU pa~y promptjy. when due~ any premiuma on such inaurance for ~?a~ m~nt of which prnvision haa not been made hereinbefore. All insurance shall be carried in compan~ea approved by mortgagee and the policies and renewals thereof ahall be held by mortgagee and have attached thereto loss payable claus~ in favor of and in form acceptable to the mortgagee. In event of loss he will give immediate notice by mail to mortgagee. and mortga~ee may make proof of loss if nvt made t~romptly by mortgagor. and each inanrance company concerned ia hereby suthorized and directed to make payment for such lasa directly to mortgagee instead of to mortgagor and mor~g~gee jointly, and the insurance proceeds. or ~anypa rt thereof~ may be applied by mortga gt.}'~ qj~tion eit~er to the reduction of the indebteciness hereby aecured or to the restoration or repa~f the` property damaged. In event of foreclosure of this mcrtgage or other tranafer of title to the mortgaged property in extinguishment of the indebtedness secured hereby. all righ~ title. and intereat of the mortgagor in and to any iasurance policies then in force ahall pass to the purchaeer or grantee. - 8. That the mortgagee maq. at any time pending s suit upon this mortgage. apply to the court hav- ing jurisdiction thereof for the appointment of a receiver. s~nd auch court shall forthwith appoint a receiver of the premisea covered hereby all and sin~ular. including all and singular the income. profits. ' issuea, and revenuea from whatever soui^ce derIved~ each and every of which. it being expressly under- stood. ia hereby mortgaged as if apeciRcally set forth and deacribed in the granting and habendum ~lauaes hereof. snd ~uch receiver ahall have all the broad and eftective functiona and powera in anywiae entivsted by a court to a receiver. and auch appointment sh~tll be m~?de by ~uch court aa 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 pmperty mort~aged or. to the solvency or insolvency of said mortgsg~or or the defendants, xnd that such rents, profita, income, iasuea, and revenuea shall be applied by such receiver ~?ccord' to the lien of thia mortgage and the practice of such courk In the event of any default on the part of~e mortgagor hereunder. the mortgagor agrees tp pay to the mortgagee on demand aa a reason- able monthly rental for the premises an amount at leaat equivalent to one-twelfth (!1z) of the aggregate of the twelve monthly inatallments payable in the then current year plus the actual amount of the annual tauea saaessments~ water rates~ and insurance premiuma for auch year not covered by the aforesaid raont~ly paymenta. 8. That (a) in the erent of any bi~each of this mot•tgage or default on tlie part of the moi~tgagor, oi• ( G) in the e~~ent that an~~ of said sums of mone~• herein referred to be not promptl~~ and fully paid ~~:ith- out demand oi• i~otice, oi• (c) in the event that eacli and every the stipulations. ag?•eements. conditions, and co~•enants of said note and this mortgage~ are not duly. pi~mptly, and full~• perfoi~rned; then in eithei• or an~~ such c~•ent, the saic~ aggregate sum mc~itioned in said uotc then rc~maining unpaid. ith ''~i interest accrued to that time, and all mone~•s secured hereby, shall become due and payable forthK ith. oi• thei•eaCter, at the option of said mortgagee. as full~• and completely as if all of the said sums of money I~ ~~•ere orginally stipulated to be paid on such day, anything in said note or in this moi~tgage to the contraiy not~~ ithstanding; and thereupon or thei•eaftei•, at the option of said mortgagee. W ithout notice or demand, suit at la~~• or in equity. may be pi•osecuteci as ii a11 moneys secured hereby had matured prior to its insti- tution. The mortgagee may foi~eclose this moi-tgag~e. as to the amount so declared due and payable. and the said pi~emises shall be sold to satisfy and pa~• the same togetF~er «•ith costs. expenses, and allow•ances. I ln case of partial fureclosui•e of this mortgage; the moi~tgaged premises shall be sold subject to the con- i tinuing lien of this mortgage foi• the amount of the ciebt not then due and unpaid. ln such case the pro- ` risions of this paragraph may again be availeci of tl~ei•eafter from time to time by the mortgagee. _ ~ 10. That the mortgago?• ~~•ill give immediate notice b~~ mail to the mortgagee of any conveyance. iransfer. or change of o~~•ne~~ship of the pi~emises. 11. That no waiver of any co~ enant 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 oragr eements 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 sha11 draw interest at the rate set forth in the note secured hereby, and shaH be repayable immediately and without demand by the mortgag+or to the mortga,gee, and, ~ together with intereat and costaaocruins thereon, shall be secured by thia mortgage. 13. T1tat the mailing of a written notice or demand addressed to the owner of r~oord of the mortgaged premises, or directed to the aaid owner at the last address actuaUy furnished to the mortgagee. or directed to said owner at said nc~ortgaged premises, and mailed by the United Statea mails. shall be sutlicient ttotioe and demand in any case arising under this instrument and required by the proviaions hereof or by law. 14. The mortgagor covenants and agrees that so long as thia mortgage and the said note secured hereby are insured under the proviaions of the National Housing Ack he will not execute or flle for record ' any insttument which imposes a restriction u~on the sale or occupancy of tne mortgaged property on the ~ bas~s of race, color, or creed. Upon any violat~on of this undertsking, the mortgagee may, at its option, declare the unpaid balance of the debt secured hereby immediately due and p~yable. ~ - I ~ ~146. ~ 1~3 ~ . . - . ~ .~x ~ , _ _ _ - - _ ~ - - ~ , - ~ ~ _ -