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Home My WebLink About0064 ~ f fines. or impasitions. for H hich pro~•ision ras not been mscie hereinl~fare~ and in default thereol ti~e mort- ' ~agee ms,y p~y the same; and that he will promptly detiver the otficial receipts tlierefur to the n:ortgagee. 4 b. That he will permit, cammit. or sutter no H aste. im~irinent, or ~eteriorntion of said propert~ or ' sny part there~f; and in the event oi the failure of the mortga~or to,keep th~ buildings on said prrmises ; and those to be erected on said premises. or improv~mPnts thereon. in good repair, the m~rtgagc~e ma~• ; make such repairs ~s in its di4cretion it may deem necessary for the proper peeservation therec~f. aod the full amount of each and every such payment shall be immediately due and px,y able~ and shall be secured i by the lien of this mortgage, ~ r 6. That he will pay atl and singular the costs, charges. and expenses. including reasonabi~ la~r~ er's ~ fees, und costs of abstracts of t~tle; incurred or paid at any time by the martgagee because of the failure on the part of the mortgagor promptly and fu11y to perform the agreements and corenants ~~f said prom- issory note and this mortgage, and said costs, charges~ and exgenses sh~)1 be immediately due and pa~- able and shaii' be secured by the lien of this morigage. ~ 7. That he will keep the imp:ovements now existing or hereufter erected on the mortgaged propert~•. insured as may be required from time to time by the mortgagee agaenst toss by fire and other hazards. casualties, and contingencies in such amounts and for such periods as ma~~ be required by mortgagee. and will pay promptly, when due. any premiums on such insurance for pa~ ment of hich prorision has not been made hereinbefore. All insurance shait be carried in conipanies apprr~~•ed by mortgagee and the policies and rene~als thereof shall be held by mortgagee and ha~e attached thereto loss pa~•abie clauses in favor of and in form acceptable~ to the mortgagee. ln event of loss he ill gi~•e immediate notice by mail to m~rtgagee. and mortgagee ma) make proof of loss if not made promptly by r.~ortgagor. ; and each insurance company concerned is hereby authorized and directed ~ to make pay rnent for such # loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds. or ; any part thereof. may be applied by mortgagee at its option either to the reduction af the indebtedness hereby secured or to the restoration or repair of the property damaged. In e~eat of foreclosure of this mortgage or other transfer of title to the mortgaged propcrty in extinguishment of the indet~tedness secured heredy, al1 right, title. and interest of the rnortgagror in and to any insurance policies then en force shall pass to the purchaser or grantee. 8. That the mortgagee may. at any time pending a suit ~zpon this mortgage. apply to the court hav- ing jurisdiction thereof for the appointment of a receiver. and such court shall forthw ith appoit~t a receiver of the premises covered hereby all and singular~ :ncluding all and singular the income. profits. issues, and revenues from whatever source derived~ each and ever~? of ~hich. 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 shal! have a11 the broad and effe~:ti~e fu, ctions and poW ers in an~ w ise ~ entrusted by a court to a receiver, and such appointment shall be made by such coutt as an admitted ~ equity and a matter of absolute right to said mortgagee. and without reference to the adequacy o: inad- s equacy of the value of the property mortgaged or to the solvency or insoi~•ency of said mortgagor or the defendants. and that such rents~ profits, income, issues. and revenues sha11 be apptied by such receirer ~ according to the lien of this mortgage and the practice of such court. .In the ~~•ent of any default on the purt of the mortgagor hereunder. Lhe mortgagor agrees to pay to the mortgagee c~ demand as a reason- able monthly rental for the premises an amount at least equivalent to one-t~elfth (!12) of the aggregate of the twelve monthly installments pa~~able in the then current ;•car pius the actual amount of the annual taxes assessments. water rates~ and inaurance premiums for sach year not co~ered by the aforesaid mont~ly payments. ~ 9, That (a) in tlie e~•e»t of an~- breach oC this mortgage or_defxult ~n the part of the murtgagor, or I G) in the erent tl~at an~• of said sums of mone~• herein i•eferreci to Ue not promptl~• and full~• paid ~~-ith- out demand or ziotice. or (c) in the erent that eari~ and e~•err the stipulations. agreements. conditions. a~~d c~>>•e~~aszt~ ~F ~~id IIO~C itll(I tltiS itiUl't$'itRE'. aee t~at dui~•. prun~ptl~•. and f~~,h• performed; then in ' either or an~• ~ur{~ crE~ut. lhe sai~l aggregate sum m~v~tioned in sai~! nutc then rrmaining unpaid. ~~•ith interest aecrued to that time. anci all mone~•s sc~curecl hereby. shall bec:ome due and pa~•able forth«•ith. or thereafter, at the optian ~~f saici niortgagee. as full~• a~ici complM~•l~• as if all of tlte said sums of morier «-ere orginall~• stipt~la±ed to be ~~aicl o~~ such day. an~•thing in sairi note or in this mortgage to the contrar~• not«•ithstanding; and therru~~on or thereafter. at the option of said mortgagee, ~~•ithout notice or demand, - stiit at laa- ot• iu c~~uih•. ma~- be prosecuted as if all mone~•s secui•ed liereb~- had matui•eci prior to its inst:- tution. The mortgagc~e ma~• forE~ciose this mortgage, as, to the amount so declared due and payable, and tiie saiti p1•emises shal! be solcl to satisf~• and pai• the same together ~~-ith costs, expenses. and allo~rances. In case of partial furc~closu~•e of this mortgage, the mortgagecl premises shall be sold subject to the con- tinuing lien of this niortgage for the amount of the ~iebt not fhen due an~l unpaid. In such case the p~•o- _ ~•isions of this pai•xgrapl~ mar again be a~•ailed of tl~ei•eaft~z• fi•om leme to tin~e b~- th~ mortgagee. ~ 10. That the mo~~tgag~,r ~~•iU gire immediate notire b~• mai! to the n~ortgagee of an~• con.~e~•ance, !z•anstei•. or change~ of o~~•ne~•ship of the pi•emises. 11. That no K~ai~•er of un~ co~-enant he~ ein or of the obligation secured hereby shall at any time thereafter be held to be a~~•ai~•er of the terms hereof or of the note seeureci hereby. 22. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may aerform 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 repa~ able immediateiy and K ithout demand by the mortgagor to the mortgagee, and, together with interest and costs accruing thereon~ shall be secured by this mortgage. 13. That ~he mailing of a written notice or demand addressed to the owner of record of the mortgaged premises, or directed to the said oKner at the last address actualty furnished to the mortgagee, or directed to said owner at said mortgaged premises, and mailed by the Unite~ States mails, shall be s~fficient notice and demand in any c.ase arising under this instrument and required by the pro~ isions hereof or by law. 14. The mortgagor covenants and agrees that so long as this mortgage and the s~.id note secured hereby are insured under the pro~ isi~ns of the I~Tational ~iousing Act, he w iq not execnte or file for record any instrun?ent which imposes a restriction upon the sate or occupancy of ti?e mortgaged propert~~ on the basis of race, cotor. or creed. U~on any violation of this undertaking, the martgagee ~nay, at its option, declare the Unpaid balance of the debt secured hereby immediately due and payable. 600K ~~lO PAGE 6~ -~~`~-.w 3~.~v { s~- _ ~ .F :Y fi. 'R~~ . ~ ~;a~~,.. . ~ ~ _ YZ ~aoj'~'3~.-~" ~ ~g~~.l%~'+~ ~ _ _ - ' ~ t ~ i < ~ ~ ~p . . _ _ _ . h.`s~=~'*.:. . . . ~4~~$~"+~d