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Home My WebLink About2893 1 • • ~ ~ ~ ~ . ~ ~ ~ Rnea, or Impaitions. for which pmvision haa no! been made hereint,efore~ and in default thereoi the mort- ~a,~ee m~y p~y the aame; snd that he wiq promptly deliver the oQicu?1 receipts therefor to the mortgsgee. b. That he wiU pernut. canmik or auRer no waste, iatp~irmenk or deterioration of aaid propert~. or any psrt thereof; and in the event ot the tsilure ot the mort~a~or to keep the buiidings on said premis~ ~d {Zio~e to be erecte~ on ssid premi~es. or improvementa tFiereon. in Qood repair. the rriortgugee may malce such repain ~s in its diacretion ~t may deem neceasary for the proper preservation thereof. and the iuU amount of esch and every auch paymeat ahall be immediately due snd payable. and ahall be secured by the lien a~ this mort~~e. 6. That he will psy sll and.aingul~r the caata. charges. and expenses, including reasonable laNyer's ieee~ snd cats oi abstracts of title~ incurr+ed or paid at sny time by the mortga~ee because of the failure on the part oi the mortga~or pranptiy and fully to perform the agreementa and covenants of aaid prom- iseory note and thia mort,~a~e. atid aaid ooets~ char~es~ and expenaes ahall be immediately due and pay- able aad abaU be aecwed by the lien of this morta~e. 7. Thst he will keep the improvementa now exiatin~ or hereafter erected on the mortga~ed property. insured aan~y be required from time to time by the mortgageesgainat loss by 8re and other hazards. csaualties. and contitigencies in auch amouats u?d for auch periods as may be required by tnortgagee. and wiU p~y psomptl~Y, when due. any premiuma on such inaurance for payment of K hich provision haa not been m~?de hereinbefore. All inaurance shall be carried in oompanies appro~ed by mortgagee and the policies snd renewals thereof ahall be held by mortgagee and have attached thereto loas pa~ able clauses in favor of and in form acceptable to the mortgagee. In event of loss he will gi~~e immediate notice by mafi to mortgagee~ anci mortgagee may make ptoot of iosa if not made promptly by mortgagor. snd each insurance company concerned ia hereby suthorized and directed to make payment for such losa directly to mortgaQee instead of to mortgagor and mortgagee jointly, and the insurance proceeds. or sny pArt thereof~ may be,appl~ed by mortgagee at ita option either to the reduction of the indebtedness hereby aecured 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 extinguishmPnt of the indebtedness necured hereby. all right~ t3tt~.- ii~est of the mortas~gor in and to any inaurance policies then in force ahall pass to the purchaaer or gran'f,ee. 8. That the mortgagee may, at afiy time pending a auit upon thia 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 hereby all and singular. including all and singular the income. profits. iaauea, and revenuea from whstever aource derived~ each and evety of which~ it being expresaly under- atood, is hereby mortQaged aa if s~ec~ficaJly set forth and described in the granting and habendum clauses hereof. and such receiver shall have all the broad and effectlve functiona and powers in anywise entrusted by a court to a receiver. and auch appointment ahall be made by such court sa an admitted equity and a matter of absolute right t~o 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 renta. profita, rncome. iasuea. and revenues shall be applied by such receiver Aocord' to the lien of thia mortgage su?d the pri?ctice of such courk In the event of any default on the part oi~e mo r hereunder. the mortgagor agrees to pay to the mortgagee on demand a8 a reason- able manthly rent ior the premisea an amount at least equivalent to one-twelfth (~i14) of the aggregate of t6e twelve monthly inatallmenta payable in the then current year plua the actual amount of the annual taxes asseaamenta, water rates~ and insurance premiums for auch year not covered by the aforesaid montf?ly paymenta. 9. That (n) in the erent of any b~~each of thia mortgage or clefault on the part of the mortgagor, oi• ( G) in the e~ent that any of said sums of mone~~ herein referred to be not promptly and fully paid ~cith- out demand or uotice. oi• (c) in the event that eaclt and e~ery the stipulations. agreementa, conditions, and co~•enants of said note and this mortgage. are not duiy~ ~~~~mptly. and fully perfoi~ned; then in either or auy surh e~•ent. the said aggregate sum mcntioned in said note then r~maining unpaid, ~~•ith i interest acerued to that time, and all moneys secured hereby, shall become due and payable forth~ ith, ~ or thereafter, at the optiou of said mo~~tgagee. as f~ll~• and completely as i[ all of the said sums of money j ~~•ere oi•ginally stipulated to l~e paid on such day~ anything in said note or in this mortgage to the contrary { not~~ ithstanding; and thereupon or thei•eafter. at the option of said tnortgagee. ~rithout notice or demand, j auit at la~~• or in eqiiity, may be pi•osecuted as if ali moneya secured hereby had matureci prior to ita insti- tution. The mortgag+ee may foreciose thia mortgage, aa to the amount ao declared due and payable, and i the said premises shali be sold to satiafy and pay the aatne together «ith costs, expenses. and allowances. ~ In case of partial loreclosure of this moi-tgage, the mo~~tgaged premises shall be sold subject to the con- tinuing lien of this ~nortgage foi• the amount of the clebt not then due and unpaid. In such case the pro- ~•isions of this pai•agraph inay again be availed of tl~ereaftei• f~bm time to time b~~ th~ mortgagee. 10. That the moi~tgagor ~~•iil give immediate notice by mail to the mortgagee of any conveyance, transfei•. or change of o~~•ne~~ship of the premises. 11. 'I'hat no waiver of any covenant he~~ein or of the obligation secured hereby shall at any time thereafter be held to l~e a v?aiver of the terms hereof or of the note secured hereby. 12. That if the mortgag~or default in any of the covenanta oragreem ents contained herein, or ia said note, then the mortgagee may perform the same. and all expen ~d'tures (including reasonable attor- ney's fees) made by the mortgagee in so doing sha11 draw interest at th ratg set ~orth in the note secured hereby, and ahall be repayable immediately and withont demand by ~~ortgag+~r to the mortgagee, and, ~ together vrith intereat ~nd oasta sccruing thereon, shall be secured by thia mortgage. 13. That the mailing of a written notice or demand addressed to the owner oi reo~rd of the mortgaged premises, or directed to the said owner at the laat address actuaUy fumished to the mortgagee. or directed ~ to aaid owner at said mortgaged premisea. and mailed by the United Statea mails, shall be sufficient notice ~ and demand in any caae arising under thia inatrument and required by the provisiona hereof or by law. ~ 14. The mortgagor covenanta and agreea that s~ long as this mortgage and the said note secured ~ hereby are insured under the provisiona oi the National Housing Act, he will not execute or Rle for re~ord 4, any instrument which impoaes a restriction upon the sale or occupancy of tae mortgaged property on the baaia of race, color, or creed. Upon sny violat~on of this nndertxking. the mortgagee may, at ita option, ~ declare the unpaid balance of the debt secured hereby immediately due and payable. . ~ ~ ~ . ~ ~ * i4? ~ ~ , ~i ~ ~ . . ~ ~ ~ . _ - _ ~ ~ _ ~~-Nrz~.~.~`~~ u. -~s 5.~ _ `;~y~