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Home My WebLink About2431 ~ . ~ , j fines, or impositiona. for which pwvision has not ~pmade herein6~fore, and in defautt thereof the mort• ' gaget msy p~?y the same; and that he will promptly eliver the official receipta therefor to the mortgugee. b. That he will permit. commit, or suRer no waate, impairment, or deterioration of said propert~• or ' any part thereof; and in the event of the failure of the mortgagor to keep the buildinga on said premisea j and thase to be erected on said premiaea~ or improvsrr~enta thereon. in good repair. the mortgagee may ~ make such repaira sa in ita discretion it may deem neceasary for the proper preservation thereof~ and the full amount of each and every such payment shall tw imm~i~teiy due ~nd payabie~ snd sha11 be secured by the lien of thia mortgage. ~ 6. That he will pay atl and singular the casta~ charges, and expenses. including reasonable laHyer's ; ieea. and coata of abstracta of title, incurred or paid at any time by th~ mortgagee because of the failure on the part of the mortgagor promptly and fully to perform the agreementa and covenants of said prom- ~ iasory note and this mortgage, and said costs~ chargea. and expenses shall be immediately due and pay- able and ahsll be secvred by the lien of this mortgage. 7. That he will keep the improvementa now existing or hereafter erected on the mortgaged property, # inaured aa m~y be required frnm time to time by the mortgagee against losa by fire and other hazarda~ casualties. and contingencies in such amounta and for such periods as may be tequired by mortgagee. ' and will pay promptly, when due~ any premiums on such insurance for payment of K hich provision has not beet? made hereinbefore. Al! insurance ahall be carried in companies approved by mortgagee and the policiea and renewals thereof ahall be held by mortgagee and have attached thereto loss payable clausea 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 losa if nat made promptly by mortgagor. ; and each insurance company concerned is hereby authorized and directed ta make payment for such i losa directly to mortgagee instead of to mortgagor and mortgagee jointly~ and the insurance prceeeds~ or ~ anypart thereof~ may be applied by mortgagee at ita option either to the reduction of the indebteciness hereby aecured or to the reatoration or repair of the property damaged. In event of forecloaure of this mortgage or other transfer of title to the mortgaged property in extinguishmpnt of the indebtedness ` secured hereby, all right, title, and intereat of the mor~gagor m and to any insurance policies then in force ; ahall pasa to the purchase~ Or ~rtntEe. ~ 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 premisea covered he~~eby all and singular, including all and singular the income, profits, issues, and revenues from whatever aource derived~ each and every of which, it being expressly under- stood, ia hereby mortgaged ss if ap¢cifically set forth and described in the granting and habendum clauses hereof, and such receiver ahalt have all the broad and effective functions and powera in anywise entrusted by a court to a receiver. and such appointment ahall 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 solveney ar insal~ency of said mortgagor or the ~ defendanta~ and that such rents, profits, income, issues, and revenues shall be applied by such recei~er according to the lien of thia mortgage and the practice of auch court. In the event of any default on the , part of the mortgagor hereunder. the mortgagor agrcea to pay to the mortgagee on demand as a reason- able monthly rental for the premises an amount at least equivatent to one-twelfth (l;,s) of the aggregate of the twelve monthly insta!lments paysble in the then current year plus the actual amount of the annual taxes asaessments, water rates, and insurance premiums for such year not covered by the aforesaid i mont~ly payments. 9. That (a) in the erent of an~• breach of this mortgage or default un tl~e paM of the mortgagor~ oi• ~ 1 L) in the event that anS• ot said sums of money hercin referred to be not pi•omptty and fully paid «~ith- ~ uut demand oi• notice. oi• (c) in the eti•ent that eacii and every the stipulations, agreements, conditions, and co~•enants of said note and this moi•tgage, are not duly~ pi~umptl~, and fulh~ performed; then in cithei• or a~~y surh e~-ent. the said aggregate sum mentio~ied in said ~iotc tlien r~~maining unpaid. ith interest accrued to tBat time, and all moneys secured bereby~ shaH become due and payable forthu•ith, or thei•eaCtef•, at the option ~f said mortgagee, as full~• and completely as i[ all of the said sums of mone} ~~=rce orginall~• stipulated to be paid on such day. anything in said note oi• in this moi~tgage to the contrary ± not~~~ithstanding; and the~•cupon or thei•eafter. at the option of said moi~tgagee, ~rithout notice or demand. ? suiE at la~~• or iu equity. may 1~e prosecuteci as if all moneys secureci hereby had matared prior to its insti- ~ tuiion. The mortgagec• may forer.lose this mortgage, as to tl~e amount so declared due and payable, and thc said premises shall be sold to satisfy and pa~• the same together ith costs~ expenses, and allo~~•ances. In case of partial foi•eclosure of this mortgage, the mortgagecl premises shail be sold subject to the con- tinuing lien of this mortgage for the amount of the ~lebt not then c~ue an~l e~npaid. In such case the pro- ~•isions of this pai•agn•aph mav again be a~~ailed of tl~ei•eafter ti•om time to time b~~ the mortgagee. 10. That the moi~tgagor ~~•iil give immediate notice b~• mail to the mortgagee of any con~•eyance, ~ transfer, oi• change of o~~•ne~~ship of the premises. 11. That no waiver of any covenant hei•ein or of the oUligation secured hereby shall at any time thereafter be held to 1~e a waiver of the terms hereof or of the note secured hereby. 12. That if the mortgagor default in any of the covenants or agreementa 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 inortgagee 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 this mortgag~. 13. That the mailing of a written notice or demand addressed to the owner of record of the martgaged premises, or directed to the said owner at the last sddress actaaily farnished 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 Nationa[ Housing Act, he will not execute or ~ile for record any instrument which imposes a restriction upon the sale or occupancy of tne mortgaged property on the i basis of race, color, or creed. Upon any violation of this undertstking, the mortgagee may, at its option, declare the unpaid balance of the debt secured hereby immediately due and payable. eaoK 147 ~g i ~ n ~ ~ ~ - ~ f~ ~~.~,a' ~ -