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Home My WebLink About0597 ; ' Y . ~ ~ l. L finea, or impositions. for which provision has not been made hereinbefore, and in default thereof the mort- ~agee m~y pay the same; and that he will prnmpLly deliver the ofRcial receipta therefor to the mortgagee. b. That he will permit. commit~ or suffer no waste. impairment~ or deterioration of said prnpert~ or ~ auy part thereof; and in the event of the failure of the mortgagor to keep the buildings on said premises and those to be erected on gaid premises, or impmvements thereon, in good repair, the mortgagec may make such repaira aa in its discretion it may deem nece~sary for the proper preservation thereof. and the fuU amount of each and every such payment shall be immediately due and payabte~ and ahatl be secured ' by th~ lien of this mortgage. , 6. That he will pay all and singular the costs~ charges~ and expenses. including reasonable law•yer'a ' feea~ and costs of abstracts of title, incurred or paid at any time by the mortga~ee because of the failure on the part of the mortgagor promptly and fully to perform the agreements and covenants of said prom- issory note and this mortgage. and ~a:d costs. chargea. and expenses shall be immediately due and pay- able and ahall be secured by the lien of this mortgage, - 7. That he will keep the improvements now exiating or hereafter erected on the mortgaged property. ; insured aa may be required from time to time by the mortgagee against loss by fire and other hazards, casualtiea, ~tnd contingencies in such amounts and ior such periods as may be required by mortgagee. ; and will pay promptly~ when due~ any premiuma on such insurance for payment of W hich provision 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 s clauses in favor of and in form acceptable to the mortgagee. In event of loss he wilt give immediate notice by mail to mortgagee. and mortgagee may make proof of loss if not made promptly by mortgagor. ; and each insurance 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, m~y be applied by mortgagee at its option either to the reduction of the indebtedness ~ hereby secured or to the reatoration or repair of the property damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged 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 purehaser or grantee. ' t 8. That the mortgagee may, at any time pending a suit upon this mortgage. apply to the court hav- i 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 aH and singeilar the income. profits~ ~ issues, and revenues from whatever source derived~ each and every of which~ it being expressly under- ~ stood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses ~ hereof. snd such receiver shall have all the broad and effective functions and powera in anywise entrusted by a court to a receiver. and such appointment shall be made by such court as an admitted equity and a matter of absolute r.ght 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 defendants. and that such rents, profits. income, issues, and revenues shall be applied by such receirer according to the liea 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-twelfth (~;1z) of the aggregate of the twelve monthiy instailments payable in the then current year plus the actnal amount of the annual taues asseasments, water rates, and insurance premiums for such year not covered by the aforesaid montfily payments. 9. That (a) in the e~•ent of an~• bl•each of this moi•tgage or default on the pai~t of the mortgagor; o~• (1,) in the e~ent that a~~~• of said sums of mone~• he?•cin referred to be not pi•omptly and fully paid ~~~ith- out demand or notice~ or (c) in the e~•ent that each and eveiy the stipulations. agreements, conditions, and eorenants of saic! i~ote and this mo~•tgage. ai•e not duly, ~~rumptl~, and f~~lh• performecl; then in ~ cithe?• or au~ s~irh e~•ent, the said aggregate sum mrntioned in said uote then r~~maining unpaid. ~~•ith interest accrued to that time, and all mone~~s secureci hereby. shall ber.ome due and payable forti?~~•ith, ~ oi• thereafte?•. at the optiou uC said moi•tgagee, as full~~ and comptetely as if all of the said sums of mone~• ~ ~rei•e orginall~• stipulated to be ~~aid on such day, ant~thing in said uote or in this mortgage to the contrary noh~ ithstanding; and thereupou or thei•eaftei•. at the option of said mortgagee~ ~~•ithout notice or demand, ~ suit at la~r o~• in eqtiity, may be pi•osecuted as if all moneys secui•ed hereby had matured prior to its insti- tution. The mortgagee may foi•eclose this mortgage~ as to the amount so declai•ed due and payable, and , the said pi•emises shall be sold to satisfy and pa~• the same togethei• ~~•ith costs, expenses, and a11oH•ances. ~ In case of partial Sorerlosu~•e of this mortgage, the mortgaged premises shall be sold subject to the con- ? tinuing lien of this mortgage foi• the amount of the ~iebt not then due anci unpaid. ln such case the pro- ~ ~•isions of this p~ragi•aph ma~~ again be a~~ailed of tliei•eaftei• fi•om time to time b~~ the mortgagee. ` 10. That the mortgag~i• ~rill give immediate notice b~• mail to the mortgagee of an3~ con~•eyance, { transfer, or change of oa•nei•ship of the premises. 11. That no waivei• of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to Ue a waiver of the terms hereof or of the note secui•ed 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 (inclading reasonabie 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, shali 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 tast address actuaily furnished to the mortgagee~ or directed to said owner at said mortgagec~ 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 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. ~ aooK 153 5g7 _ 3~ r~- ~ y ~ - _ p ~r ~ g ~ r.,,.s~, ,y~.,. L~.~~~ { ; ~ ~~s~ ~ ~ - f