The URL can be used to link to this page

Home My WebLink About0476 ~ ~ . ,.;.t ~ - . : ;a 1,.* 3 • ~ . . • flnea. or im;~oaitions. for which provision haa not been made hereinbefore. and in default thereof the mort- ga,gee may pay the same; and thxt he wi!! promptly deliver the ol~cial receipta therpfor to the mortgagee. b. That he will permit. commit~ or suffer no waate. impairment, or detrr:~ration of said property or any part thereof; and ~n the event of the failure of the mortgagor to.keep the buildings on aaid premises and thoae to be erected on said premises~ or improvementa thereon. in good repair. the mortgagee m~y make such repairs as in ita discretion it may deem necessary for the proper pr~ervation thereof. and the full amount of each and every such p~ayinent shall be immediately due and payable. and shall be secured ~ by the lien of this mortgage. 6. That he will pay all and, singular the costa~ charges. and expenses. including reasonable IaK y er's fe~, and costa of abstracts of t~tle~ incurred or paid at a~y time by ihe mortgagee because of the failure on the part of the mortgagor promptly and ful!y to perform the agreemen*.s and covenants of said prom- issorq note snd this mortga~e. and said costa. charges. and expensea ahall be immediately due and pay- able and shall be secured by the lien of this mortgage. That he will keep the improvementa now exiating or hereafter erected on the mortgaged property. insuted aa may be required from time to time by the mortgagee against losa by fire and other hazards. csaualties. and conting~ncies in auch amounts and for such periods as may be required by mortgagee. and wiA pay promptly. when due. any premiums on such inaurance for payment of ~ hich pm~ ision has not been made hereinbefore. All insurance shall be carried in companies appro~ed by mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto loss pa~•able clauses in favor of and in form acceptable to the mortgagee. ln event of loss he will gi~e immediate notice by mail to mortgagee. and mortgagee may make proof of loss if not made promptly by mortgagor, and each insnrance company concerned is hereby authorized and directed to make payment for such loss 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 aecured or to the~r~~ration or repair of the property damaged. In event of foreclosure of this mortgage or other tranafer of.title to the mortgag?ed property in extinguishment of the indebtedness secured hereby. all right. title. and interest of the mortgagor in and to any insurance policies then in force ahall pass to the purchaaer or grantee. 8. That the mortgagee may. 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 furthwith appoint a receiver of the premises covered hereby all and singular. including all and singular the income; profits. issues, and revenues from whatever source derived~ each and every of which~ it being expressly undei•- stood. is hereby mortgaged as 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 anyw ise entrnsted 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 mort~agee, and without reference to the adequacy or inad- ~uacy of the value of the pmperty mortgaged or to the aolvency or insolvency of said mortgagor or the defendants. and that such rents. profits. income, issues, and revenues shall be applied by such recei~er according to the lien of this 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 an 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 instaliments payable in the then current year plus the actual amount of the annual taxes aeaessments, water rates~ and insurance premiuma for such year not covered by the aforesaid mont~lp payments. 9. That (n) in the e~•ent of an~~ breach of this mortgage or clefault on thc pa~~t of the moi~tgagor, or ( l,) in the e~•ent that an~~ of said sums of mone~• hei•cin i~eferred to be not pi•omptly and fully paid ~~ith- out demansl notice. oi• (c) in the e~ent that eacl~ and e~~e~w the stipulations, agceements. conditions. and co~~enants of said note and this mortgage. are not duiy~ pt~mptly, and full~ perfoimed; then in ' cithei• or an~• sunc ~~-rnt. the said aggregate sum mcutioned in said note theii ~•~~maining unpaid~ ~~~ith interest accrued to that time. and ail mone~•s secured hereby. shall become due and payable forth~~•ith, ` or thei•eaftei•, at the optio~i uf said mortgagee, as fu113~ and completely as if ali of the said sums of mone~~ ~ ~~•ere oi•ginall~ stipulated to be paid on such da~•. an~~thing in said note or in this mortgage to the contrar~~ ~ uot~~ ithstanding; and thereupon or thereafter. at the option of said mortgagee, ~~•ithout notice or demand, suit at la~~- or i~i equih•, ma~~ Ue p~•osecuted as if all moneys secured hereb~ had matured pi•ior to its insti- tution. The mortgagee niay foi•eclose this moi~tgage, as to the amount so declared due and payable, and the said pi•emises shall be sold to satisfy and• pay the same togethei• ~~-ithcosts, expenses, and allo~~~ances. in case of pa~~tial furerlosure of this mortgage, the mm~tgaged premises shall be sold subject to the con- tinuing lien of this mortgage for the amount of the ~lebt not then due and unpaid. ln such case the pro- ~•isions of this paragraph ma~~ again be availed of tl~ereafter from time to time b~• the mortgagee. 10. That the mortgagor ~~•ill gi~e immeciiate notice b~• maii to the mortgagee of any com•eyance, U•ansfei•. oi• change of o~~•nership of the premises. 11. That no v?aiver of any covenant he~•ein or of the obligation secured hereby shall at any time thei•eafter be held to be a waiver of the terms hereaf or of the note secured hereby. 12. That if the mortgagor default in any of the covenants or agreementa 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 maiis, shall be sufl5cient 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 underts;king, the mortgagee may, at its option~ declare the unpaid balance of the debt secured hereby immediately due and payable. ~ ' ~ ~ ~ ~ OOK~~ g _ _ . ~ ^ - - § ~-'A