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Home My WebLink About1958 • . r • ~ ~ i r t , J( - ; ~ y flnes. or impositiona, for which provision has not been made hereinbefore. and in default thereof the mort- Qagee may pay the aame; and that he will promptly deliver the oflicial receipts therefor to the rnoMgagee. 5. That he will permit. comn?it, or suRer no waste. impai~henk or deterioration ~f said properq: or any part thereoi; and in the event of the failure of the mort~agor to keep the buildings on aa~u prem~ses snd those to be erected on said premises. or improvements thettiwn. ia good repair, the mortgagee may make such repaira as in its discretion it may deem necesaary for the proper preservation thereof. and the fuU smount of each and every such payment ahall be immediately due and pa~yable. and shall be secured by the lien oi thia mortgage. 6. That he will pay all and aingular the coeta. charges. and expenses. including reasonable la~ yer'a ieee, and eoats of abstracts of title~ ~ncurred or paid at ~u?y time by the mortgagee because of the failure on the part of the mortgagor promptly and fully to perform the agreements and covenanta of said prom- iasory note and thia mortgage. and aaid coata. chargea~ and expenaea ahall be immediately due and pay- able snd ahsU be aecured by the lien of thia mortgsge. 7. Ttut he will kee~ the improvements now exiating or hereafter erected on the mortgaged property, inaured aam~y be required from time to time by the mo~~aga inst losa by fire and other hazards. caaualtiea, and conting~encies in auch amounta and for suc~ periods as may be required by mortgagee. and wiU psy pranptly, when due, any premiums on such insursnce for payment of which pro~ ision has ~ot been made hereinbefore. All insurance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto loss payable clauaes in favor of and itt form acceptable to the mortgagee. In event of loss he will gi~e immediate notice by mait to mortgagee, and mortga~ee may make proof of losa if not made promptly by mortgagor. and each inaurance campany concerned ~a hereby authorized and directed to make payment for such lasa directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds. or any pat~t ther~eof~ may be applied by mortgagee at its option e~ther to the reduction of the indebtedness here6y secured or to the restqratio~ or repair of the property damaged. In event of foreclosure of this mortgage or other transfer of~t~tle to the mortgaged property in extinguishment of the indebtedness secured hereby. all right, title, anci intereat of the mortgagor in and to any insurance policies then in force ahall paaa to the purcha$er or grantee. 8. That the mortgagee ms,y. at any time pending a suit upon this mortgage~ apply to the court hav- ing juriadiction thereof for the appointment of a receiver. and such court shall forthwith appoint a receiver of the premises covered hereby all and aingular. including all and singular the income. profits. issues. and revenuea from whatever source derived~ each and every of which. ~t being expressly under- atood. is hereby mortgaged as if apecifically set forth and described in the granting and habendum clauses hereof. and such receiver shali have all the broad and effective functiona and powers in anyv?ise entruated by a court to a receiver. and such appointment shall be made by such court as an admitted equity and a matter of absolute 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 insolvency of said mortgagor or the defendanta, and that such rents. pmfits, income, isauea~ and revenuea shall be applied by such receirer ac.cording to the lien of thia mortgage and the practice of such courk In the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reason- able monthly rental for the premises an amount at lesst equivalent to one-twelfth (!12) of the aggregate of the twelve monthly instaliments payable in the then current year plus the actual amount of the annual taxea aaaessments, water rates~ and inaurance premiums for such year not covered by the aforesaid mont~ly paymenta. - 9. That (a) in the e~•ent of any b~~each of this mortgage or clefault on the pai~t of the mortgagor, or ( b) in the e~~ent that an~• of said sums of money~ hez•ein rerferred to be not p~•omptly and fully paid ~4ith- out demand oi• notice. or (c) in the e~ent that eacli and eve?•y the stipulations~ agreements, conditions, and co~•enants of said note and this mortgage, are not duTy, prumptly, and full~• performed; then in eithei• or any surh e~•ent, the said aggregate sum mentioneci in said ~iote then r~~maining unpaid. ~~•ith interest accived to that time. and all moneys secureci hereby~ shall become due and payable forth~~•ith, i or thereafter, at the option uf said mortgagee, as full~• and completely as if all of the said sums of mone~- ~ ~~•ei•e oi•ginaUy stipulated to be paid on such day. an~~thing in sai~l t~ote or in this moti•tgage to the contrar~~ ~ not~cithstanding; and thereupon or thereafter. at the option of said mortgagee~ ~~•ithout notice or demand, suit at la~~• or in equity, ma~~ be p~•osecutecl as if all money s securecl hereb~• had matured prior to its insti- ~ tution. The mortgagee may foreclose this moi~tgage, as to the amount so declared due and payable, and the said premises shall be sold to satisfy and pa~• the same together «•ith costs. expenses, and allo«•ances. In case of pai-tial forc~losure of this mo~~tgage. the moi•tgaged pi•emises shall be sold subject to the con- tinuing lien of this moi•tgage for the amount of the clebt not then due and impaid. In such case the pro- ~•isions of this pai•agraph ma~• again be a~~ailed of tl~creafter fi•om time to time b~• the mortgagee. 10. That the mortgagoi• ~~•ill gi~•e immediate notice b~• mail to the moMgagee of any con~•eyance. transfer, oi• change of o~rnei•ship of the p~~emises. 11. That no waiver of any covenant herein or of the oUligation 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 or ag?reements 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. ~at 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 suflicient 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 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 occupancy of tne 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 xnd payable. BOOx 151 f ~ 15? ; _ . _ - ~ - ~ _~Ni