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Home My WebLink About1563 ~ . flnea, or impositions. for which prnviaion haa not been made hgceinbefore. and in default thereof the morE- ~a~~ee may p~y the asme; and th~?t he will prw~c~p~iy deliver t~,o~cial receipts therefor to the mortgs~gee. b. 1'he?t he will permik commit, or auRer no waate, impairtnent, or deteriorat~on oi aaid property or ~}r thereof; aud in the event oi the failure af the mo r to keep the buildinga on said premisea and ~oae to be erected on said premiaea, or impmvements~ n, in Qood rep~ir. the mortgagee may m~k~e such repsirs as in ita diacretion it may deem nec~asry for the proper preaervation thereof. and the full s~mount of each ~nd every euch p~,yment shill be immediately due and payable~ and sh~tll be aecured by the liea of thia inortgaQe. ~ 8. That he will pay ul! and aingular the caata, charge6, and expensea~ including reaaoiuble lav?yer's fees, snd costa of abatracta of title~ incurrPd or psid at sny tirae by the mortgagee becauae of the failure on the part oi the mortgagor promptly and fully to perform the sgreements and covenants of said prom- isaory note and this mo x~e. and said co~ta~ charQea~ and expenaea ahall be immediately due ~?nd pay- able and ahall be aecured b~y the lien of thia mort~aQe. Tlut he will kee~ the improvementa now existing or heresfter erected on the mortgsged property~ inaured aa may be requ~red from time to time by the mortgagee againat loss by fire and other hazarda, casualti~, and contingenci~ in auch amounta and for such perioda as may be required by mortgagee. snd wiU pa,y pramptly. when due. any premiums on such insurance for ~?ayment of which provision haa not beea made hereinbefore. All insnrance ahall be carried in oompanies approved by mortgagee and the policiea and renewals thereof shall be held by mortgagee and have attached thereto loss payable claua~,e ia favor of and in form acceptable to the mortgagee. In event of losa he will give immediate notice by ma~l to mortgagee, and mortgagee may make proof of Iosa if not made promptiy by mortgagor, and each inaurance campany concerned is hereby anthorized and directed to make payment for such loss dere~etly to mort~a$ee instead oi to mortgagor and mortg~ jointly, and the insurance proceeds. or hany part thereof~ ni~?y:be ~ppli~d-by t~ao~:tg at its option e~t er to the reduction of the indebtednesa reby secured or to the reatoration or', ir of the prnperty damag~ed. In event of foreclasure of this mortgage or other tranefer ot' title to the mortgaged property in extinguishment of the indebtedness secured hereby. all righ~ title, and intere~t of the mortgagor in and to any insurance policies then in foree ahall paea to the pur~h~o~ g~ptee. 8. That the mo ~ ~ ~ rtgagee may, at any t~e pending a suit upon this mortgage. apply to the court hav- ing jurisdiction thereof for the appointment of a receiver. and such court shall forthwith appoint a receiver of the premisea covered hereby all and singular, including all and singular the income, profits, iasuea. and revenues t'ran what~ver aource derived~ each and every of which~ it being expressly under- atood. ia hereby mortg~ged if apoci8c~lly set forth and deacribed in the granting and habendum clauses hereof. and such recei`ver' ahal! k~ine: ~ the broad and effective funct~ons and powers in anywise entruated by a court to a rcceiver. and such appointment shal! 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 pmpertq mortgaged or to the solvency or insolvency of said mortgagor or the defendants, and that such renta, prnfita. income~ issuea. and reveaues shall be applied by anch receiver aocording to the lien of thia mortgage and the practice of auch court. In the event of any default on the part of the mortgagor hereunder, the mortgagor agreea to pay to the mortgagee on de~nand as a resson- able montlily rental for the premises an amount at least equivalent to one-twelfth (~„s) of the aggregate of the twelve monthiy installments payable in the then current year plus the actual amount of the annual taxea aaaeasments, water rates, and insurance premiama for auch year not covered by the aforesaid mont~ily payments. . 9. That (a) in the e~•ent of any bi~each of this moi~tgage or default on the part of the moi~tgagor, or (L) in the event that an~• of said sums of money he~rin i~eferred to be not promptly and fulty paid ~4ith- out demand or notice, or (c) in the event that eacli and every the stipulations~ agi~eements~ conditions, and co~•enants of saicl note and this mortgage. ai~e not duiy, pi^~mptly, and fully performed; then in eithei• oi• any such e~~ent. the said aggregate sum mentioned in said notc then rNmaining unpaid. ith interest acci•ued to that time. and all moneys secured hereby, shall become due and payable. forthK•ith, or thereaftei•, at the optian af said moi•tgagee. as fuli~• and completely as if aU of the said sums of money ~~•ere oi•ginall~• stipulated to be paid on such day, anything in said note or in this moi~tgage to the contrary not~rithstanding; and thereupoii or thereafter, at the option of said mortgagee. ithout notice oi• demand, suit at la«• or in equity. may Ge prosecuted as if all moneys secured hereby had maturec~ prior to its insti- ' tution. The mortgagee may fot•eclose this moi~tgage. as to the amount so declared due and payable, and the said premises shall be sold to satisfy $nd pay the same together v~ ith costs, expenses, and alloW ances. In case of partial foreclosm•e of this mortgage. the mo~~tgaged premises shail be sotd subject to the con- tinuing lien of this mortgage for the amount of the ~iebt not then due and unpaid. In sach case the pro- t•isions of this pae~graph may again be availed of tl2e~•eafter fl-om time to time b~~ the mortgagee. 10. That the moi~tgagoi• ~r•ill give immediate notice by mail to the mortgagee of any con~~eyance. t~•ansfer, or change of o~~ ne?~ship of the premises. i 11. That no waiver of any covenant hei~ein or of the obligation secured hereby shall at any time i thereafter be held to t~e a v?aiver of the terms hereof or of the note secured hereby. i 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in j 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 repay able immediately and without demand by the mortgagor to the mortgagee, and, ; together with interest and oosta 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 i premises, or directed to the said owner at the last address actualty 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 covenanta and agrees that so long as this mortgage and the said note secured ; hereby are insured under the provisiona of the National Housing Act. he will not~execute or file for record ; any instrument which imposes a restriction upon the sate 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 and payable. ~ ~ i ~ { ; °~o~ox155 - 361 " ; ~ - ~ E ~ ~ 4 ~ ~,.."'s ~36 ..~..'~~x8r ~'K4 ~ . . . . . . . . _ ~~5.~: Y ~ zj«s°tiwi. `~1 ~rC.^~.4~`1~+s1"d..~ ~ 4°L"F~~-.~~ " ~ ~i ~ y~.`~; .t qt." ~