The URL can be used to link to this page

Home My WebLink About0393 - ~ r v f ~ s j ~ ~ ~ flnee, or impo~itiona, for which provision has not been made hereinbefore. ~d in default thereof the mor~ Q~ee mey psy the aame; and that he wiU promptly deliver the ot~tciat receipts therefor to the mortgs~gee. 8. Tlut he wiU yermit, commit~ or aulier no w~ste, impsirmenk or deterioration of said prnperty or an,y thereoi; and in the event oi the faiiure ot the mort a~or to keep the bu~ldinga on aaid premises - g 0 u?d aee tfl be er~ected on said prPrai~es. or impmvementa tfiereon, in ~ood repair, the mortgagee m~y mske auch repaira ~?e io ita diacretion ~t may deem ne~aaxry for the prnper pre,servation thereof. and the full s~mount oi each ~nd every such p~yment shsU be imraediately due and payabie, and ahsll be aecured by the Iien of this mort~a~e. 6. That he will pny all a~nd ain~lsr the costs. charge~s. and expenaea. including ;eaaonable laK•yer's ie~, snd costs of ~bstracta of title~ mcurred or paid at aqy time by the mortgag~e because of the failure on the part o~ the mortg~or promptly and fully to periorra the agreementa a d coven~nta of said prom- - iaaory note ~und this mo . . and asid costa~ c~isrges~ and expensea ahall be unmediately due and pay able snd ahsU be aecured b~e lien of this mort~+e. That he will kee~ the improvementa now eiciating or hereafter erected on the mortgaged property~ inaured asm~y be requu~ed from tune to time by the mo~~~a~ ~nat loss by tire and other hazarda. caeualtiea and contingencies in auch amouats xnd for sucb periods•aa may be required by mortgag~ee, snd will p~y prou?ptly. when due. any premiuma on such inaurance for payment of which provision haa not been made hereinbefore. Alt inanrance ahall be carried in compan~es approved by tnortgagee and the policies and renewala thereof ahall be held by mortgagee and have attached thereto loas payable cl~uses in favor of and in form acceptable to the mortgagee. In event of losa he wiU give immediate notice by mail to mortgagee. and tnortga~ee may make proof of loss if not made promptly by mortgagor. sund each iusurance company concerned ~a hereby authorized and directed to make payment for such losa directly to mortgngee instead of to mortgagor and mortgagee jointly, and the insurance proceeds~ or at~y ~art thereof, may be applied by mortgagee at ita option e~ther to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of forecloaure of thi~ mortgsge or other transfer of titte to the mortgaged pmperty in extinguishment of the indebtedn~ss secured hereby. all right, title, a»d interest of the mortgagor in and to any insurance policies then in force shsU pass to the purchaser or grantee. Thst the mortgagee may, at any time pending auit upon thia mortgage, apply to the court hav- ing jurisdiction thereoi for the appointment of a receiver, and such court ahall forthwith appoint a receiver of the premisea covered hereby ail and singular. including all and singular the iniwme. prnfits. issves. aad revenuee from whatever aource der~ved~ each and every of which, it being expresaly under- atood, ia hereby mortgaged as if specifically set torth and de~cribed in the granting and habendum clauses hereof. and auch receiver ahaU have sll the broad and effective functions and pawera in snywise entruated by s court to a receiver, aad auch appointment shall be made by such court aa an admitted equity ~nd a matter of absolute right to aaid mortgagee, and without reference to the adequacy or inad- equacy of the value of the property mortgag~ed or to the solvency or insolvency of said mortgagor or the defendants, su?d tha~ such:rents. profits, income, isaues. and revenuea shall be applied by such receiver aocord' to the lien of ttus mortgage ~nd the practice of such courk In the event of any default on the psit of~e mort,gsgor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reason- ~ sble monthly rental for the premises ati amount at least equivalent to one-twelfth (!14) of the aggregate of the twetve monthly installments payable in the then current year plus the actual amount of the annual taxes aaaeasmenta, water rates~ snd insurance premiums for such year not covered by the aforesaid mont~ly payments. . 9. That (a) itt the e~ent of any bi~each of thia mortgage oi• default on the part of the moi~tgagor~ or (L) in the event that any of said sums of money hei-ein i-eferred to be not promptly and fully paid ~4ith- out demand or notice, or (c) in the event that eaci~ and eve~y the stipulations. agreements. conditions~ and co~enants of saicl note and this moi•tgage. a~•e not du1y, pi~mptly, and full~~ perfoi~ned; then in either or any such e~ent, the said aggregate sum mentioned in said note then remaining unpaid. ~~•ith interest acerued to that time. and all moneys secured hereby. shall become due and payable forthwith, oi• thei•eafter, at the optioi~ of said mot~tgagee, as fut13• and completely as if all of the said sums of money ~~~ere oi•ginally stipulated to be paid on such day, anything in said note oi• in this mortgage to the contrai•y not~rithstanding; and thereupon or thereafter~ at #he option of said mortgagee. ithout notice or demand, suit at la~~ or in equity, may be prosecuted as if a11 moneys secured hereby had maturec~ prior to ita insti- tution. Ti?e mortgagpe may foreclose this mortgag~e. as to the amoant so declared due and payable, and ~ the said pi~emises sha11 be sold to satisfy and pay the same together ith costs, expenses, and ailo~~ ances. In case of partial foreclosuf~e of this mortgage. the mo~~tgageci premises shall be sold subject to the con- tinuing lien of thi~ mortgage foi• the amount of the clebt not then due and unpaid. In such case the pro- risions of this pai~agraph may again be availeci of tl~ereafter fe-om time to time by the mortgagee. 10. That the moi~tgagoi• ~~•ill give immediate notice b~ mai! to the mortgagee of any conveyance, transfe~•, or change of o~~~nei~ship of the premises. !1. That no waiver of any covenant herein or of the obligation 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 mortgagor default in any of the covenants oragr eements contained herein, or in said note, then the mortgagee may perform the same, and ail 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 rep~ayable immediately and without demand by the mortgagor to the mortgagee, and, together with interest and coats accruing thereon, shall be secured by this mortgage. 13. That the mailing of a written notice or demand addres,4ed to the owner of t~ecord 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 law. 14. The mortgagor oovenants 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 occupancq of ti?e mortgaged property on the basis of race~ color, or creed. Upon any violation of thia underts?king, the mortga,gee may, at its option, declare the unpaid balance of the debt secured hereby immediately due and payable. a oK 148 392 ~ _ ~ ~ *F~~~.~;~,~:~ _ _ t . - ~