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Home My WebLink About0182 ws~ •~w.~ •~v~ vaw~ il{q4c i{Li~~~~K~V~h w ' gs~ee may p~y tha same; and that he w~il! ~tt~mpt~y delivet the officisl re~eipts therefor ta the cr.~r~gagce. 5. That he will permit. commit. or suffer no w~aste, impairment~ or deterioratio:. of said propart~ or ' any part thereui; and in tr.e event of the failure of the r.~ortg,~or to keep the buildings on sai6 prcmises ar?d tho~e to be erected on said premises. or impmvemen/a thcreon. en good repair. the mortgagee may make such repairs as in its discretion it may deem rteoessary for the prnper preservation thereof. and the full amount of each and every such pa3 ment shall ba immedist~ly due aud payable, and shall be secured • by the lien of this mortga~e. 6. That he wilt pay all d singular the costa, charges. and expenses. including reasonable la~~yer's fees. and costs of abstracts ~title. incurred or gaid st any timE by the mortgagee becauae of the failure on Lhe part of the mortgagor promptly and fully to perform the agreementa and co~enants of said prom-. ~ issory note and this mortgage. and said costs~ charges. and expenses shall be immediately due and pay• ; able and shall be secured b~ the lien of this mortgage. That he will keep the improvements now existing or hereafter erected on the mortgaged property~ ~ insured as may be required from time to time by the mortgagee against toss b3~ fire and other hazards. casualties. and contingenci~ in such ~mounts and for such periods as ma~ be req~ired by mortgagee, and will pay promptly, when due. any premiums on such insurance for pa~ ment of H hich pro~ ision has not been made hereinbefore. All insurance shall be carried in companies approved by mortgagee and the polici~ 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. In event of loss he W itl gire in~mediate notice by mail to mortgagee. and mortgagee may make proof of loss if not made promptly by mortgagor. and each insurance company ~oncerned is hereby authorized and directed to make payment for such losa directly to mortgagee insiead 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 of the indebtedness ' hereby secured or to the restoration or repair of the property daunaged. In event of foreclosure of this mortgage or other transfer of titte 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 3hall pass to the purchaser or grantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, apply to'the court hav- ing jurisdictian thereof for the appointment of a receiver. and such court shall forth~. ith appoint a ~ receiver of the premises covered hereby all and singular. including all and singular the income~ profits. ' issaes, and revenues from whatever source derived~ each and every of vrhich, it being expressly under- stood. is hereby mortgaged as if specifically set forth and described in the granting and habendam clauses hereof. and such receiver shall have al! the broad and effective functions and poW ers in any H ise ' entrusted by a court to a receiver. and such appaintment shall 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 i;iad- equacy of the valne of the property mo: tgaged or to the solvency or insolvency of said mortgagor or the defendants. and that such rents. profits, income, issues, and revenues shalt be applied by such recei~•er according to the lien of this mortgage and the practice of auch coe~rt. In the event of any default on the pal~t of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee c:~ demand as a reason- ~ abte monthly rental for the premises a;. amount at least equivalent to one-twelfth (!12) of the aggi•egate ' of the twelve monthly installments pa~ abie in the then current year plus the actual amount of the annual { taxes assessments. water ra'~~ and insurance premiums for such year not covered by the aforesaid mont~?ly payments. 9. That in the c~r»t of an~- brearh of this mortgage or default un the part of the mortgagor, or l b) in the e~•ent that an~• of said sums uC mone~~ herein irferred to be not prompth• and f ull~• paid ~~~ith- ~?ut demand or uotice. oi• (c) 111 tI1N e~•ent that eacl? and e~~ef•~• the stipulations. agreements. conditions. .?~td roreelants of s~id note and this mo~•tgage, a~•e uot duly, piY,mptl~•. anci full~• performed; then iii eith~r o~• anr such e~•e~~t. the saici a~gregate sum mrntioneci in s~zi~l nute then rrmaining ut~paid, ~~•ith ~3 inierest acci•ueci to that time. and all muiie~•s serureci hereby. shall bc~:ome due and pa~aLle forth«~ith. i or thereafter, at the uption ~~f said mortgagee. as fulls• and compl~~i _~l~- as it al! of the said sums of mone~• i »~c~z•e orginall~• stipi~lated to be paid on such da~, an~•thing in said n~zte or in this mortgage to the contrar~• uot~~•ithstanding; and thereupon or the~•cafter, at the option of said mortgagee. ~~•ithout notice or demand. j suit at la~~• or in c~uit~-. n~a~•i~e proseeutecl as if all mone~•s see~u•eci t~ereb~• had matured pt•ior to its insti- ; tution. The mortgagee mat• foi•crlose this moi•tgage. as to the amo~fnt so declared due and pa~-able, and ~ the ~~id ~remisc~ shall be sold to satisfy and pa~• the same togetliei• n-ith costs. expenses, and allo~~•ances. i lu rase of partial to~•erlosure of this mortgage. the mortgagE~l p~•emises shall be sold subject to the con- ~ tinuing lien of this mortgage fo~• thr amount of the ~iebt not then due an~i unpaid. ln such case the pro- ~ ~•isions of this parage•aph ma~• again be a~•aile~l of thei•eaftef• fyom time to time b~• the mortgagee. ~ 10. That thc m~i•tgagor .ril! gi~•e immerliate notice b~• mail to the mortgaRee of an~• conve~ance~ • • tra~~ster, or change of o~~-ne~~ship of the premises, ~ 4 11. That no Hai~•er of an~ cc,~•enxnt herein or of the ol~ligation secureci hereby shal! at any time i thereafter l~e held to be a Kai~er of the terms hereof or of thz note secunec~ herebt~. ~ 12. That if the mortgagor defaulf in any of the covenants or agreements contained herein, or in said note, then the mortgagee may perform the same~ and all expenditures (including reasonable attor- ~ ner's fees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured E hereby, at?d shalt be repa3•able immediately and without demand by the mortgagor to the mortgagee, and, *,.ogether with interest and costs accruing therean, shall l~e 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 o~•ner at said mortgaged premises, and mailed by the United States maifs, shall be suflicient notice ~ and demand in any case arising under this instrument and required by the provisions hereof or by law. 4 14. The mortgagor co~ enants and agrees thdt so long as this mortgage and the said note secured hereby are insured under the provisions of the National Housing Act, he will nat execute or fite for record any insirument which imposes a res±riction upon the sate or occupancy of tne mortgag~ propertv on the basis of i-ace, color, or creed. Upon any violation of this undertaking. the mortgagee may. at its option, declare the unpaid balance of the deht secured hereUy immediately due and payable. i ~ 800K~J0 PACE ~8z ~ , _ ~ ~ K ~ r ~i ~ _ - n., ~ - ~ . ~ r _ ~ _ _ ~ ~ s ~ ' " ~ ~ : - v. • _ ~z=. - ~ _ ~'~`~r° ~e--:v - , o-~- . ~ ~ r=~`'>. - x. - ~ .s