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Home My WebLink About1038 • ~ .~t flnea. or impoaitiona. for which proviaion has not bee made he fore. and in default thereof the nnort- ~a~ee m~y psy the aune; and that he wip pro~mpt~? d~'ver the'~~~1 receipts therefor to the mortgs~gee. b. Tt?at he wiU permit, comnait, or auRer no waate, im~uirnnent~ or deterioration of aaid property or aqypart thereof; and in the event of the isilure of the mo r to keep the buildings on said premisea and thaee to be erected oo aaid premiaES. or improvementa~ n. in Qood repair. the mortgagee may make aach repaira aa in ib diacretion it may deem neceaaary for the proper pre~ervation thereof. and the iuU unount of eachh snd every auch peyment ahall be immediate~y due and payable. and ~hall be aecured by the lien of this mort~a~e. 6. That he will pay sll and, ain~ulsr the casta. charges, and expensea. including reasonable IaW yer'a fees~ And coats of abatrs?cts oi title, incurn~d or psid st any time by the mortgagee because of the failure on the part of the mortgagor promptly and ful1y to perform the agreements and covenants of said prom- iasory note snd ttua mort~age. and anid costa. charges. >tnd expensea ahall be immediately due and pay- sble and ahall be aecured by the liea of this mortQs~e. 7. Th~?t he will kee~ the improvementa now exiating or hereaiter erected on the mortgaged property. inaw~ed asm~y be required from time to time by the mo g againat losa by Are and other hazards. casualties. snd conting~enciea in such amounta and for aurctia p~eriods as may be required by mortgagee. and wiU pay promptly. when due~ any premiums on such inaurance for p~yment of v?hich provision haa not been nu~de hereinbetore. All inaurance ahall be carried in compan~es approved by mortgagee and the policies and renewala thereof shall be held by mortgagee and have attached thereto loss pay able clauses ~n favor of and in form aoceptable to the mortgagee. In event of loss he will give immediate notioe by mail to mortgagee, and mortga~ee may make proof of losa if not made promptly by mortgagor, and each insuranoe company concerned ia hereby authorized and directed to make payment for such lvea directly to mort~agee in$tead of to mortgagor and mort ee jointly, and the inaurance proceeds~ or ve any pa.rt thereof~ ma~y be appli~d by mortgag~ee at its option eit er to the reduction of the indebtedness hereby aecured or to the reatoration or repair of the prnperty damaged. In event of foreclosure of this mortgage or oth~r r_ 4f title to the mortgaged property in extingu~shment of the indebtedness secure~: hereby. ali th~~tt~ and intereat of the mortQagor in and to any insurance policies then in force ahaU pat~s to the pu aser or grantee. 8. Thst the mortgagee may. at any time pending s suit upon thia mortgage. apply to the court hav- ing iur. isdiction thereof for the appointment of s receiver, ard auch court shaU forthwith appoint a receiver of the premiaea covered hereby all and singular, including all and singular the income. profits. iasues. and revenues from whatever source derived~ each and every of which. it bemg expreasly under- atood, ia hereby mortgaged aa if apecificalty set forth snd described in the granting and habendum clauses hereof. and auch receiver ahall have sil the broad aad effective functions and powera in anywise entrusted by a court to a receiver. and auch appointment ahall be made by such court ss an admitted equity and a matter of abaolute 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 inaolvency of said mortgagor or the defendsnta, and that such rents, proflts. income, iaauea, and revenues shall be applied by su: h recei~er . accord' to the lien of this mortgage and the practice of auch rnurk In the event of any default on the part of~e mortgagor hereunder. the mortgagor agreea to pay to the mortgagee an demand aa a reaaon- able monthly rental for the premiaea an amount at least equivalent to one-twelfth (3is) of the aggregate of the twelve monthly installments payable in the then current year plus the actual amount of the annual taues ssaesaments, water rates~ and inaurance premiuma for such year not covered by the aforeaaid mont~y psymenta. 9. That (a) in the e~•ent of any breach of this moi~tgage or default on the pai-t of the mortgagor~ oi• ~ G) in the e~~ent ti~at any of said sums of money heirin i~eferred to be not promptly .and fully paid ~Mith- out demand oi• notice, or (c) in the event that each and eve~y the stipulations, agreements. conditions. and co~•enants of said note and this mortgage. a?~e not duly, pi~umptl~~ and fullv performed; then in eithei• or any sucii e~•ent, the said aggregate sum mentio~fied in said uote then remaining unpaid. ith interest acci•ued to that time, and all moneys secured hereby, shall become due and payable forth~ ith, or thereaftei•, at the optio~i of said moi~tgagee. as full~• and completely as if all of the said suma of money ; ~~~ei-e orginall~ stipulated to l~e paid on such day, anything in said note or in this mortgage to the contrary E not~~ ithstanding; and the~•eupon or thereaftei•, at the option of said mortgagee, ithout notice or demand. i suit at la~~ or in equity, may be prosecuted as if all moneys secured hereby had matui•ed prior to its insti- ~ tution. The moi•tgagee may fo~•eclose this mortgage~ as to tl~e amount so declared due and payable. and the said premises shall be sold to satisfy and pa~~ the same togethei• ~~•ith costs, expenses. and allo~~•ances. ~ In case of partial foreclosui~e of this mortgage~ the moi~tgageci pi•emises shall be sold subject to the con- tinuing lien of this mortgage foi• the amount of the ~lebt not then due and unpaid. In such case the pra ~ ~•isions of this paragraph may again be availed of thei•eafter from time to time b~~ the mortgagee. 10. That the mo~~tgago~• ~~•ill give immeciiate notice b~ mail to the mortgagee of any con~eyance, ~ transfer. or change of o«•ne?•ship of the premises. 11. That no waiver of any covenant hei~ein or of the obligation secured hereby shall at any time thei•eafter l~e held to !~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 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 by this mortgage. 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 law. ~ 14. The mortgagor covenants and agrees that so long as this mortgage and the said note secured ~ herebq 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 cecupancy of ti?e mortgaged property on the ~ basis of race, color, or creed. Upon any violation of this undertaking. the mortgagee may, at its option, ~ declare the unpaid balance of the debt secured hereby immediately due and payable. Boo~ 149 437 ~ _ . . ~ , - - ~ _ x y~ „ ~ ~s -