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Home My WebLink About2035 . . . i,~ . • > V ~ ';~'Ye'+~ fln~. or impositiona, for which provision has not been made hereinbefore, and in default thereof the mort- gag~ee may pay the aame; and that he will prompUy deliver the oRiciAl receipta therefor to the mortgagee. b. Th~t he will permit. commit~ or suRer no waate. impairment~ or deterioration of said propert~_ or any part thereof ; and in the event oi the iailure of the mortgagor to.keep the buildings on aaid prem~ses and thoae to be erected on said premiaes~ or impmvements thereon, in good repair~ the mortgagee may niake auch repairs as in its discretion it may deem neceasary for the proper pr~ervation thereof. and the full amount ot each at?d every such payment shall be immediately due.and payable. and ahall be secured by the lien oi thie mortgage. 6. That he will pay all and. singular the coata~ charges, and expenses~ including reasonable laH yer'a ieea, and costs of abatracts of title~ i~curred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly and fully to pQ:rform the agreements and covenants of said prom- issory note snd this mortgage, and said costs. chargea, and expenaes ahall be immediately due and pay- able and ahall be secured by the lien of thia mortgage. That he will keep the improvementa now exiating or heteafter erected on the mortgaged property. inaured aamay be required from time to time by the mortgagee againat losa by fire and other hazards. caaualtiea. snd contingenciea in auch amounts and for such perioda aa may be required by mortgagee. snd wiU psy promptlY. when due, any premiuma on such inaurance for payment of v~hich provision has not been made hereinbefore. All insurance ehall be carried in companiea approved by mortgagee and the polici~ and renewala thereof shall be held by mortgagee and have attached thereto loss pa~ able clauaes in favor of and in form acceptable to the mortgagee. In event of loss he will give immediate notice by mail t~ mortgagee. and mortgagee may make proof of loss if not made promptiy by mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such loas directly to mortgagee instead of to mortgagor and mortgagee jointly. and the insurance proceeds~ or anypa rt thereof~ may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage or other tranafer ,oL ~titl~ to the mortgaged property in extinguishment of the indebtedness secured hereby. all right, title. and intereat of the mortgagor in and to any insurance policies then in force ahall pasa to the purchaser or grantee. 8. That the mortgagee may, at any time pending s suit_ upon this mortgage. spgly to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered hereby all and singular. including all and singular the income. profits. issues, and revenuea from whatever source derived~ each and every of which. it be~ng expressly under- stood, ia hereby mortgaged aa if specifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effective functions and powers in anywise entrusted by a court to a receiver. and such appointment ahali be made by such court as an admitted equity and a matter of absolute right to said mortgagee. and without teference to the adequacy or inad- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendant$, and that such rents. profits, income, issues, and revenues shall be appl~ed by such recei~ er according to the lien of this mortgage and the practice of such court. 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 least equivalent to one-tKelfth (!1z) of the aggregate of the twelve monthly installments payable in the then current yesr plus the actual amount of the annual taxes asaessments, water rates, and insurance premiuma 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 o~• default on the pai~t of the moi~tgagor. or ( 6) in the e~~ent that an~• af said sums of mone~~ hercin referred to be not promptly and fully paid ~~ith- out demand or iiotice~ oi• (c) in the e~•ent that each and erer~• the stipulations. agceements, conditions. and co~•enants of said note and this mo?•tgage. ati•e not du1y. prumptly. and full}~ performeci; then in either oi• an~• surh r~'cnt. the said aggregate sum mentionecl in sai~l ~iotc then rrmaining unpaid. ~~•ith intei•est accrued to that time, and all mone~~s secured hereby, shall become due and payable forth~~ ith, or thereafter. at the optio~i uf said mortgagee. as full~ and completely as if all of the said sums of mone~~ u•ei•e oi•ginall~• stipiilated to be ~~aid on such day, an~•thing in saici note or in this mortgage to the conti•ary not~~•ithstanding: and the?•eupon or thei•eaftei•, at the option of said mortgagee~ ~~•ithout notice or demand, suit at la« oi• in equit~•, ma~• be p~•osecuted as if all mone~•s securecl hereby had matui•ed prior to its insti- tution. The mortgag~ee 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 togethei• ~~•ith costs, expenses, and allo~~•ances. In case of partial forerlosure of this mortgage, the mortgaged pi•emises shall be sold subject to the con- tinuing lien of this mortgage for the amount of the ~lebt uot then due and unpaid. In such case the pro- ~•isions of this pa?•agraph mav again be a~~ailed of thcreafter from time to time b~• the mortgagee. 10. That th~ mortgago?• ~~-ill gire immediate notice b~• mail to the mortgagee of any con~•eyance, ~ transfer, or change of o~~-nership of the premises. . 11. That no waivei• of any covenant he~-ein or of the obligation secured hereby shall at any time thereafter be held to I~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 rea.sonable 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 repa~•able 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 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 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. ~i51 ~34 ~ ~ H ~ > a , ~,,,t~.,a r+_: ~ - p . ~"~3° v