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Home My WebLink About2485 , ~ ' , , _I fines, or impositiona~ for which provision has not been made hereinbefote. and in default thereof the mort- gagee may ps,y the same; and that he wi11 prnmptly deliver the ot~icial receipta therefor to the mortgagee. 5. That he will permit. commit~ or suffer no waste. impairment~ or deterioration of said property or any part thereof; and in the event of Lhe failure of the mortgagor to.keep the buildings oa said prem~ses and tha$e to be erected oa said premises~ or improvemeAta thereon. in good repair. the mortgagee may make such repaira aa ~n ita discretion it may deem t?ecessary for the proper preservation thereof~ and the full amount of each and every such payment shall be immediately due and payable, and ahall be secured by the lien of this mortgage. 6. That he will pay all and, singuler the coats, charges, and expenses. including reasonable laH yer'a feea. and costs of abstracts of t~tle~ incurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly and fully to perform the agreements and covenants of said prom- issory note and this mortgage, and said costs~ chargea, and expenses shall be immediately due and pay- able and ahall be secured by the lien of this mortgage. 7. That he will keep the improvements now existing or hereafter erected on the mortgaged prnperty. inaured aa may be reqnired fmm time to time by the mortgagee against loss by fire and other hazards. casualtiea, aqd contingencies in auch amounts and for such periods as may be required by mortgagee. and will pay promptly, when due. any premiums on such insurance for payment of w•hich pravision fias not been made hereinbefore. All insarance shall be carried in companies approved by mortgagee and the policias and renewals thereof ahall be held by mortgagee and have attached thereto loss pa~ able clausee in favor of and in form acceptable ta the mortgagee. In event of loss he wili give immediate notice by mail to mortgagee. and mortgagee may make proof of loss if not made promptly by mortgagor, and each inaurance company concerned is hereby authorized and directed to make payment for such lasa directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance prceeeds. or any part thereof. may be applied by mortgagee at its option either to the reduction of the indebtedaess hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgag^E or other transfer of title to the mortgaged property in extinguishmPnt of the indebtedness secured hereby, all right, title, and intereat of the mortgagor in and to any insurance policies then in force ahall pass to the purchaser or ~rantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage. apply to the eourt hav- ing jurisdiction thereof for the appointment of a receiver. and such court ahall forthwith appoint a receiver of the premises covered hereby all and singular, including all and singular the income. profits. issues. and revenuea frnrn whatever source derived, each and every of which~ it be~ng expresaly under- stood. is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof~ and such receiver ahall have all the broad and effective functions and powers in anywise entrusted 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 recei~ er aooording to the lien of this mortgage and the practice of auch court. In the event of any default on the part of thc 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 ( 3iY) of the aggregate of the twelve monthly installments payable in the then curre~t year plus the actual amount of the annual taxes aasessments, water rates, and inaurance premiums for such year not covered by the aforesaid mont~ly paymenta. 9. That (a) in the e~•ent of an~~ breach of this mo~•tgage or default on tl?e part of the mortgagor, oi• (6) in the e~ent that an~• of said suins of mone~ hei•ein i-eferreci to be not pi•omptly and fully paid ~eith- out demand or uotice. oi• (c) in the e~•ent that eacli and eve~;v the stipulations, agreements, conditions, and co~•enants of said note and this mortgage~ are not duly~ p~~umptl~•. and fulh• performed; then in eithei• or an~• such c~•ent, the said aggregate sum meiitioneci in saicl notr then r~maining unpaid~ ~vith interest accrued to that time, and ail moneys secured hereby, shall become clue and payable forth~rith, or ihereafter. at the option of said n~ot•tgagee, as full~• and completel~~ as if all of the said sums of money u-ere orginall~~ stipulated to be paid on such day. anything in said note or in this mortgage to the contrary uot~~•ithstancling; and thereupon or thereafter. at the option of said mortgagee. a•ithout notice or demand, suit at la~~ or in equit~, ma~ t~e prosecuted as if a11 mone~~s secui•eci hereby had matured prior to its insti- tution. The moi•tgagee may foi•eclose this moi~tgage, as to the amount so declared due and payable, and the said premises shall be sold to satisfy and pay the same together «•ith costs. expenses, and alloK ances. , In case of partial foreclosure of this mortgage~ the mortgaged premises shali be sold subject to the con- tinuing lien of this mortgage for the amount of the clebt not then due an~l unpaid. In such case the pra ~•isions of this paragi•aph map again be a~ailed of ti~ereafter f~~om time to time b~• the mortgagee. 10. That the moi•tgagoi• ~~-ill gi~e immediate notice by mail to the mortgagee of any con~eyance, ; t~•ansfer, or change of o~~-nership of the ~remises. F 11. That no waivei• of any covenant hei•ein or of the obligation secured hereby shall at any time ~ thereafter be held to F~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 agreements cantained 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 aceruing thereon~ shall be se+eured by this mortgage. E 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 sufficient notice and demand in any case arising under this instrument and required by the provisions hereof or by taw. ~ 14. The mortgagor covenants and agreea that so long as this mortgage and the said note secured r 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 ti?e mortgaged property on the f basis of race~ color, or creed. Upon any violation of this undertaking, the mortgagee may, at ita option, ~ declare the unpaid balance of the debt secured hereby immediately due and payable. t i " ~ 3 ~ ` . - - ~ ~ ~ ~ aoK 147 83 . - _ _ _ _ _ . _ _ y~~, - e~ . ~ _ -~-+~,r