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Home My WebLink About2478 ~ L 1 ~ . ? • ~ ~ . • J ~ ~ . . flnes, or impoaitiona. for which proviaion haa not been made hereinbefore. and in default thereof the mort- gagee ms~r pay the sAme; and that he w~ll promptly deliver the olflcial receipts therefor to the mortgagee. 5. That he will permit, commit, or suffer no wsate, impairment~ or deterioratton of aaid propert~ or any part thereof ; and in the event of the failure oi the mo~~ r to keep the buildinga on aaid premises and tho~se to be erected on aaid premi8es, or improvementa t~iereon, in good repsir, the ~mortgagee m~y malce such repairs aa in ita discretion it msy deem necessary for the proper preservation thereof. and the full amount of each and every such p~?ment ahall be immediately due and payable. and shall be secured by the lien oi thia mortge8~e. 6. That he will pay all and, aingular the coate, charges, and expenses, including reasonabte laH yer'a feea. and costa of ab~tracts of title. incurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly and fuU,~? to perform the agteements and covenanta of said prom- iasory note and thia mortgage, and said casta, charges~ and e~cpensea ahall be immediately due and psy able and shall be secured by the lien of thia mortgage. 7. That he will kee~ the improvements now existing or hereaftEr erected on the mortgaged property. ;nsured as m~y be requ~red frnm time to time by the mortgagee against losa by tire and other hazards, caaualties. and cantingenciea in auch amounts and for such periods as may be required by mortgagee. ~ and will pay promptlY. when due, any premiuma on such insurance for payment of v?hich pro~ ision haa not been made hereinbefore. All insurai?ce shall be carried in companies appro~•ed by..mortgagee and the polici~ and renewals thereof shali be held by mortgagee and have attached thereto loss pa~•able clatises in favor of and in form acceptable to the mortgagee. In event of loss he will gi~e 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 loas directly to mortgagee instead of to mortgagor and mortgagee jointly~ and the inaurance proceeds. or any part thereoi~ may be applied by mortgagee at its option either to the reduction of the indebtedness here6y secured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage or other tranafer of title to the mortgaged property in extinguishment of the indebtedness aecured hereby. all right,:tlt1~ ~d ~interest of the mortgagor in and to any insuranca policies then in force shall pasa to the purchase~r o~'~grantee. 8. That the mortgagee may. at any time pending s suit upon this mortgage. apply to the court hav- ing juriadiction thereof for the appointment of a receiver. and such court shall forthwith appoint a receiver of the premisea 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 be~ng expressly under- stood. is hereby mortgaged aa if specifically set forth and described iri 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 solvency or insolvency of said mortgagor or the defendants, and that such rents, profita. income. issues. and revenues shall be applied by such receirer according to the lien of this mortgage and the practice of such court. 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 lesst equivalent to one-tv?elfth of the aggregate of the twelve monthly installments payable in the then cnrrent year plus the actual amount of the annual taxea aaaesaments, water rates~ and inaurance premiums for such year not covered by the aforesaid mont~ly payments. 9. That (a) in the e~•ent of any bi~each of this mortgage or clefault on tlie part of the moi~tgagor, or (L) in the e~•ent that an~• of said sums of mone~~ he?rin referred to be not promptly and fully pa~d ~4ith- ~ out demand or notice. or (c) in the e~~ent that each and eve~y the stipulations. agreements, conditions. and co~•enauts of said note and this mortgage. are not du1y, ,~i~umptly. and fully performed; then in eithe?• or an~• sucli erent, the said aggi•egate sum mentioned in sai~l ~iote then iti~maintng unpaid, ~~•ith ~ interest acci•ued to that time, and all moneys secured hereby. shall become due and payable forth~~•ith. or thereafter. at the option of said mo~~tgagee. as full~• and completely as if all of the said sums of mone~~ ~~-ere orginallp stipulated to l~e paid on such day~ anything in sa~d note or in this mortgage to the contrar~~ not~~•ithstanding; and the?•eupon or thei•eafter, at the option of said moi-tgagee, ~~•ithout notice oi• demand, suit at la~~ or in equity. ma~~ be pi•osecuted as if all moneys secured hereb~• had maturecl prior to its insti- tution. The mo~~tgagee may foreclose this mortgage. as to the amount so declared due and payable, and the said premises shaU be soid to satisfy and pa~• the same together ~~•ith costs. expenses, and allowances. ln case of partial f~reclosui•e of this mortgage. the mortgageci premises shall be sold subject to the con- tinuing lien of t1~is mortgage for the amount of the debt not then due an~l unpaid. In such case the pra ~•isions of this,pa?•agraph ma~~ again be availed of tl~ereafter from time to time b~~ the mortgagee. 10. That the mo~•tgagoi• ~rill give •immediate notice by mail to the mortgagee of any con~~eyance~ ti•ansfer, oi• change of o~~•nei~ship of the premises. 11. That no waiver of any covenant he~~ein or of the obligation secured hereby shail at any time thereafter be held to be a waiver of the terms hereof or of the note secured hereby. 12. That if the mortgagror default in any of the covenanta 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 accruing thereon, shall be secured bq this mortgage. 13. That the mailing of a written notice or demand addFessed 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 sufi'icient notice - and demand in any case arising under thia 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 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 here~y immediately due and payable. 600K147 .76 ~ . r - - - -