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Home My WebLink About1385 • ~ ~ " . u~ ffnes, or iaapositioae, for which proviaion has not been made hereinbetore. u~d in dei~ult thereof the mort- l~ee ~1Y P~?Y t~e asrle; snd that he will promptly deliver t!?e o~ci~l raeipts therefor to the mort~a~ee. b. Th~t he wiU permit, caninit, or auHer no waste. iiapsinaenk or deterioratton oi aaid propertY oi' sny psrt thereoi; and 'w the event Qi the isilure oi the mort,~aQor to keep the buildin~s on s~id premises snd those t~ be erec~ed a? ssid pre~qiies. or :mprov8naenLt th~eoa. ia ~ood rep~ir. the mortgagee m~?y :naioe such rep~in a4 in its discretion~ it m~? deem neoessary iae~ the proper preservation theriwf~ and the iull ~unount of each ~nd overy auch qy?meat ahaU be immedi~r due snd psU?able, and ah~Jl be aecured by the lien a~ thia mqrt~a~. . 6. That he will psy sU snd, sit~ulu the costa. char~es. and •~xpenses. includu'~ reasonable lawyer's iee~s,~ snd oosts of abstracts of Utle. iiacurred or paid at any timeby the morcaa~ee becauae of the failure on the put of the mort~or prnmpt~? snd f~i ~o perform the t~reements and covenanta of said prom- iasor~r note snd this ~part~a~e. and aaid ooats. char~es, and expenses shall be immediately due and pr~y ~ble ~nd s~uIl be sec~red by e Uen of this mort~e. ` - 7. That he wiU keeF the improvements now exiatin~ or het~atter erected oa the mortga~ed property, inaured asm~r be requued iro~m tiine to time by the mo ~~e~i nat loss by flre suid other hasards, pu~usities. snd contit~encies in auch amounb snd ior s~cl~ periods as~may be required by mortQagee. p~yptm~ pt~1i. when due. an~y pt~emiuma on such inauranoe for pNnnent of which provision haa not been made hereinbefore. All Iusuranoe ahall be cur~ed in co~npan~es approved by mortgagee and the policies and renewsls thereof shaU be heid by mortgagee and have attached thereto loas payable clauaes in favor oi sad in iorm aa:eptable to the mortg~ee. In event of.losa he will give immediate notioe by mail to awrt,~aQee. and mor~kg~e may mske proof oi loss if not made promptly by mortga~g+or. and e~ch inauranoe co~npan,y concerned hereby anthorfsed ~nd directed to make payment for auch Iosa directly to n~~rtBa~ee inatesd of to mortgagor ~nd mortgagee jointly. and the inaurance proceeds. or any thereoi~ m~y be applied by mortga~ee at its option either to the reduction of the indebtednesa h~secured or to the r~tOratioo or repair of the prnperty damaged. In event of forecloaure of this mortg~e or other triuiafer of title to the mortgaged prnperty in extinguiahment of the indebtedness secured het~y. aU rig t~ title, tereat of the mort~xgor in and to any inaurance policiea then in force shall paas to the purchaaer or~;~~~~ 8. That the mortgagee naay, at any time pending a.suit upon thia mortgage. apply to the court hav- in~ ~urisdiction thereof for the appointraent of s receiver. and such oourt ahaU forthwith appoint a receiver oi the premises covered hereby all and singular~ including all and.ain~ular the income, profita. issu~. snd rwe.nue~s from whatever souroe derived~ ~?ch and every of wh~ch. it being expresaly under- stood. is hereby mort~a~ed as if speciflcally set forth snd deecribed in the grantin~_and habendum clauaea hereuf~ snd auch receiver ahsll have all the bra?d and effecNve functions and powers in anywiae entruated by a court to s receiver, snd such appointment shall be made by such court aa an admitted equity snd a tnstter of absolute right to aaid mortgagee. and without reference to the adequacy or inad- eqw~cy oi the vslue of the property mort~ged or to the aolvency or insolvency of said mortgag+or or the defead~wta, ~nd tlwt wch reata. prdits„ inoo~me, iasuea. and revenues ahall be applied by such receiver aoco~ to the liea of this mort,~~ge and the practioe of such oourt. It? the event of xny default on the put of e mortga~or hereuaders the mortgagor agrces to pay to the mortgagee on demand aa s reason- able monthly rentsl for the pre~msea an amount at leaat equivalent to one-twelith (3i:) of the aggregate of the tarelve monthly inatallments payable in the then current year plua the actual amount of the annual . t~uces assessments, water rates, nud inaursu~ce premiuma for such yesr not covered by the aforesaid mont~ly psytnents. 9. That (a) in the e~ent of any bi~each of thia moi~tgage or clefault on tlie part of the moi~tgagor. or (L) in the event that any of said sums of money hei~ein i~ferred to be not promptly and fully paid ~4ith- out demand oi• notice. or (c) in the event that each and every the atipulations. agreementa. conditions. and cocenants of said note and this mortgage. ai~e not du1y, piwmptiy. and fuily performed; then in either or any such e~ent. the said aggi~egate sum mentioned in saici note then ~~maining unpaid~ ~~ith interest accrued to that time, and all moneys secured hereby, shall become due and payable forthw ith, oi• the~~eafter, at the optiou of said mortgagee, as fuU~ and completely as if ail of the said sums of money ~~•ere orginally stipulated to be paid on such day, anything in said note or in this mortgage to the contrary ' not~~ ithstanding; and thereupon or thereafter, at the option of said mortgagee. ithout notice oi• demand. ! suit at la~r or in equity, may be pi~oaecuteci as if all moneya secured hereby had matured prior to ita inati- ~ tution. The mortgag~ee may forecloae thia mortgag~e. as to the amount so declared due andpa yable. and ' the said pi-emises shali be sold to satisfy and pay the same together ~ ith costs, expenses, and allowances. ~ In case of partial foreclosure of this moi~tgage, the moitgageci premises shall be sold subject to the con- tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the pro- ~ isiona of this pai~agi•aph may again be availeci of thereafter from time to time by the mortgagee. 10. That the mo~tgagor n-ill give immediate notice by mail to the mortgagee of any conveyance, transfer. or change of o~~ nei~ship of the premises. 11. That no waiver of any covenant hei~cin 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 oovensuts oragreementa contained herein, or in said note, then the mortgagee may perforna the same, and all expenditures (includin~ reasonable attor- ney's feea) made by the mortgagee in so doing shaU draw interest at the rate set forth in the note secured hereby. and shall be repsyable immediately and without demand by the mortga~or to the mortgagee, and, together with interest and c~sts aocruing thereon. shall be secured by this mortg~e, 1S. That the mailing of a written notice or demand addressed to the owner of reoord of the ~rtgaged premisea, or directed to the aaid owner at the last address actually furnished to the mortgagee, or directed , to said owner at said mortgaged premisea, and mailed by the tJnitcd States mails, shall be sufficient notioe and demand in any csse arising under thia instrument and required bq the provlaions hereof or by law. 14. The mortgagor covenauts and agrees that so long aa this mortgage and t6e said note secured hereby are insured under the pmvisions of the National Housing Act, he will not execute or flle for record any instrument which imposea a restriction upon the sale or occupancp of tne mortgaged property on the basia of race, color, or creed. Upon any violation of this underts~king, the mortgagee may~ at its option, declare the unpaid balance of the debt secured hereby immediately due and payable. 1 ~ ~ ~150 184 : - -~-x ~ - - - _~,rvti, ,~.:;ry ~