The URL can be used to link to this page

Home My WebLink About2889 ' ;l t+ i ~ ~ ~ ~ ~ flner, or impositions. for which proviaion has not been made hereinbetore, and in default thereo~ the mor~ ~~ee m~y pay the s~me; and thst he wiU promptly d~liver the oRicial receipta therefor to the ttiortgages. 6. 1'lu?t he wiU permit. canmit~ or suQer ao w~uste. i~npsirmenk or deteriorallon oi aaid Qroperty or any tbereof; ~utd in the eveat oi the isilure of the mort~agor Lo.keep the buildin~s on sa~d prem~ses and ho~e to be erect~ed on said preiniaee. or improvementa thereon. in ~ood repair, t e mortgagee may maia auch rep~ira a~ in its diacre~tion it m~,y deem necesaary for the prnper preservation thereoi~ and the iuU sn?ount oi each ~nd every such payment shaU be imtnedi~tely due snd payable. and ahall be secured by the lien ad thia mortgase. ~ 6. That he will pay ~11 and singulsr the costa~ charges. and expense~. inciuding reasonable laH yer's iees. snd oosta of abstracts of title, incurred or psid at at~y time by the mortga~ee because of the failure on the part af the mortgs~or promptiy snd fully to perform the agreementa and covenants of said prom- iaaory note snd this mo and aaid ooats~ char~es, and expenses ahall be immediately due and pay able aad ah~U be secured b~ lien of this mortga~e. 7. Thst he will keep the improvementa now exutit?~ ar hereaft8r erected on the mortgaged property. inaured aa msy be required frnm time to time by the mortgagee ag~inat loss by fire and other hazards, casualties. and contit~gencies in auch amounts and for auch perioda aa .may be required by mortgagee, and will p*yp~ro~a~ptly. when due. any,pre~niuma on auch insurance for ps~yment of which provision haa not been made hereinbefore. All insurance ahall be carried in oompanies appro~ed by mortgagee and the policies and renewala thereof shall be held by mortgagee and have attached thereto loss pa~ able clausea in fsvor of and in form acceptable to the mortgagee. In event of loss he will give inimediate notice by mail to mortgagee. and mortga~ee m~y make proof of loss if not made promptly by mortgagor. and es~ch inaurance cormpany concerned is hereby authorized and directed to make pay ment for such losa directly to mortgagee instead of to mortgagor and mortgagee jointly~ and the insurance proceeds. or anypa rt thereof. may be applied by mortgagee ~t its option either to the reductior. of the indebtedness hereby aecured or to the t~e+storation or repair of the property damaged. In event of foreclosure of this mortgage or other tranafer o~ t~itletq the mortgaged property in extinguishment of the indebtednesa secured hereby~ all righ~ tttl~ ~ it~t~test of the mortgagor in and to any insurance policiea then in force ahall p a s s to the purchasef or grantee. - 8. That the mortgagee may. at any time pending a,auit upon this mortgage. apply to the court hav- ing juriadiction thereof for the appointment of a rece~ver. ~?nd such oourt shall forthwith appoint a receiver of the premisea covered hereby all and singnlar. including all and singular the income, profits, iasues. and revenuea from whatever sourre derived~ each and every of which. it being expressly under- atood. is hereby mortg~ged aa if apecifie~ily set forth and d~cribed in the granting and habendum clauses hereol. and auch rec~aver ahall have ail _the broad and effective functiona and powera in anyv?ise entrusted by a court to s receiver, and sach appointment shall be made by such court aa an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequaay or inad- equaey of the value of the pmperty mortgaged or to the solvency or insolvency of said mortgagor or the defendants. stnd that such renta. profits. income, isauea, and revenues shall be applied by such receiver accordin~ to the lien of thi~s mortgage snd the practice of such courk In the event of s?n,y default on the pari ot tds morCgs~gor aereunaers ~he mortgagor agreea to pay to the mortgagee an demand as s reaaon• uble monthly rental for the premises an amount at leaat equivalent to one-twelfth (!~Y) of the aggregate oi the twelve monthly installments payable in the then current yest plua the actual amount of the annual tazes asseasmenta, water rates. and insurance premiums tor auch year not covered by the aforesaid mont~?1Y W?Yments. - 9. That (a) in the erent of any breach of thia mortgage oi• clefault on the part of the mortgagor. oi• ( G) in the event that any of said sums of mone~~ hetrin referred to be not promptly anc~ fully paid ~~:ith- uut demand or uotice. or (c) in the e~•ent that each and every the stipulations, agreements. oonditions, xnd co~enants of saicl note and this mortgage. are not duly. pi~mptly, and fully performed; then in ; either oc any surh e~-ent. the said aggregate sum mentioned in said note then ~~maining unpaid, «•ith ! interest accrued to that time, and all moneys secured hereby. ahall become due and pay able forthK ith. ~ or thei•eaftei•, at the optioii uf said moi~tgagee, as full~• at~d completely as if atl of the said sums df mone~~ ~ ~~•ere orginally stipulated tv be paid on such day. an~~thing in said ~iote oi• in this mortgage to the contrary ~ not~~ ithstanding ; and thereupon or thereafter. at the option of said mortgagee. ~rithout notice or demand, suit at la~~ or in equity. may be prosecuteei as if all moneys secured hereby had matureci prior to ita insti- ~ tution. The mortgagee may foreclose thia mortgag~e. aa to the amount so declared due and payable, and the said p~~emises shall be soid to satisfy, and pay the same together ith costs; expenaes, and ailo~~ ances. ~ In case of partial foreclosure of this moi~fgage, the moi~tgagecl premises shall be sold subject to the con- € tinuing lien of ti~i~ mortgage foi• the amount of the ~lebt not then due and unpaid. In such case the pra ~ ~ isions of this psi•agraph may again be availeci of thereafter from time to time by the mortgagee. 10. That the moi~tgagoi• ~~•ill gi~e immediate notice by mail to the mortgagee of any conveyance, ! lransfer~ or change of o~~•nei~ship of the premises. ~ 1 11. That no waiver of any covenant hei~ein or of the oUligatjon 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 mortgager default in any oi the covenants or agreement~ contained herein. or in said note, then the moFtgagee may perform i~he 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, aad, together with interest and coata aecruing thereon, shall be secured by thia mortgage. ~ 13. That the mailing of a written notice or demand addressed to the ovrner of record of the mortgaged premises~ or directed to the said owner at the last address actually furaished to the mortgagee. or directed ~ to said owner at said mortgaged premises, and mailed by the United States maila, shall be sufficient notioe and demand in any case arising under thia instrument and required bq the pmviaiona hereof or by law. k 14. The mortgagor covenants and agreea that so long as this mortgage and the aaid note secured ~ hereby are insured under the proviaions of the National Housing Act, he will not execute or flle for record ~ any instrument which impoaea a restriction upon the sale or occupancy of tne mortgaged property on the basis of race~ color. or creed. Upon any violation of this undertsking, the mortgagee may, at its option, _ declare the unpaid balance of the debt secured hereby immediately due and paya lb e. ~ ~ ~ , - ~ . ~i47 = ~ 48? ~ ~ ~-£y~ ~ y_J~~~~"t'vYr-^`~._.. . . . ~ r-~...~