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HomeMy WebLinkAbout0544 t-- . , . • t ~ l~nes. or impositions. for vrhich proviaion has not beea made h~rainbefbre, sad in def~ult thereof the ~nort- ga~ee ma,p p~,y the aame; and that he wi~ promptly deliver the o~cial receipt~ therefor ta the mort~a~e. b. That he wiU permit, cotnmit. or suQer na wasta, itapzirn~nt, or deterioratioa of aaid property or aayp~r~ thereof; and in the event ot the iailu» of the mort~~or to keep the buildin~a oa sai6 premiaea and ~hase to be erected oe+ aaid premisc~. or Improvements tFi -ereon. in ~ood repair, the mortgagee may make such repsirs as in ihs discretion it m~y dee:n a~cesssry ~for the proper preservat~on theceof. and the fuU wn~unt oi each and every auch p~yment shall be immediately due snd p~yable. ~d shAll be aecured by the liea af this mprLQa,~e. 6. That he will ~pay all and, aingula?r the costs. chsrge6. and expenaea. including ressonab3e lawyer's iees, snd eoats of abatracts of t~tle, incurred or psid s# any time by the mortg~ee because of the failure on the Wurt oi the mortgagor promptly and ful~y to ~xtorin th~ ~greementa and covenants of said prnm- iaaory note sad th~s mo . and ~aaid oasta. chsr~ea. and expeaaea ahall be immediately due u?d pay- ~ ~ sble aud ahall be aecwred by e lien of this mort~aae. - ' That he wiu kee~ the impro~ements now e~cistin~ or hetr.~fter erected on the mortgageti prnperty. ina»red asm~y be required from time to time by the mo aga inat loss by fire and other hazarda~ , casualtiee. and contingenciea in aach smounta and for suc~i p~eriods aa may be required by mor'gagee, ~ and will p~ypro~upt~y. when due. any premiums on stich inaursnce for ~yment of Khich proviaion haa not been made herein~fore. All insurance shall be cartied io oompan~ea approved by mortgagee and the policies and renewals thereof ahall be held by mortgagee and have attached thereto loss p~ able clauaes in favor of and in form acceptable to the mortgagee. In event of lc~ss he will give immediate ~ aotice by msil to mortgagee. and mortga~ee may make proof of loss if not made pro.rnptly by mortgagor, and each insurance company concerned is hereby authorized an3 directed to make p~yment f~r such losa directly to mortga~ee instead of to mortgagor and mortga~ee jointly. and the insurance proceeds. or . s~? part thereaf, m~ be appli¢d by }nortgagee at ite option either to the reduction of the indebtedn~.ss hereby secured or to the reatoratio~l-or repa~r of the property damaged. In event of foreclosure of this mortgage or other transfer~o~f_title to the mortgaged property in extinguishment of the indebtedness eecured hereby, all right, ta~tl~; ~d interest of the mortgagor in and to any iresurance policiea then in force ahsll pasa to the purchaser.or ~rantee. 8. That the mortgagee may, a~ sny time pending a suit upon this mortgage. .apply to the caurt ha~- ing jurisdiction thereof for the appointment of a receiver, and such ~court shall forthw~th appoint a - receiver of the premises covered hereby all and singular. including all and singular the income. profits, issues. and revenuea fram whatever source derived~ each and every of which. it beu:~. expressly under- stood. is hereby mortgaged aa # ape~ificatly set forth and described in the granting and habendum clauses iiereof, and such ~ceiver ahAll tisve all the broad and effective functiona and powers in anywise entrusted by a court-to a receiver, and such appointment shall be made by such court as an admitted equity and a ms:ter of absolute right to aaid mortgagee, and without reference to the adequacq or inad- equacy of the value of the property mort~aged or.to the solvency or insolvency of said mortgagor or the defeudanta. and that such rents. profita. ~ncame, isauea. and revenuea shall be applied by such recei~ er aocording to the lien of thia 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 on demand as a reason- ; able n~onthly rental for the premisea an amount at least equivalent to one-twelfth ~s) of the aggregate of the twelve monthly instaliments payable in the then current year plus the actual amount of the annual taxea sasessments, water r~tes, and inanrance premiuma for such year not covered by the aforesaid mont~lY P$Yi?lenta. 9. That (a) in the e~ent of any bi~each of this moi~tgage oi• default on the part of the moi~tgagor, or (L) in the event that any of said sums of money herein referred to be not promptly and-fully paid ~cith- out demand or uotice, or (c) in the event that each and every the stipulations, agreements, conditions. and co~•enants of said note and this mortgage, ai~e not duiy. p~~mptly, and fully perfot-med; then in either or ai~3~ sucii e~ent. the said aggregate sum mentioned in said iiote then i~~maining unpaid, ith interest accrued t~ that time, and all moneys securecl hereby. shaU become due and payable forth~rith. ur thei•eE''tei•, at the option of said mo~~gagee, as fuU~ and completely as if aq of the said sums of money ~ ~r-ere orginall~ stipulated to be paid on such day. anything in said iiote oi• in this mortgage to the contrary not~~ ithstanding; and thereupon or thereaftei•, at the option of said mortgagee. ithout notice oi• demand. suit at la~~ or in equity. may be prosecuteci as if all moneys secui•ed hereby had matureci prior to its insti- tution. The mo~~tgagee may foreclose this mortgage. as to the amount so declared due and payable, and the said premises shall be sold to satisfy and pay the same together ~rith costs. expenses, and alloW ~nces. In case of partial fo~rclosure of this mortgage, the mortgagecl premises shall be sold subjeet to the con- tinuing lien of this mortgage for the amount of the ctebt not then due and unpaid. ln such case the pra ~ ~ isions of this pai•agraph ma3~ again be avaiied of thereafter from time to time b~- the mortgagee. 10. That the moi•tgagor ~~•ill give immediate notice by mail to the r:zortgagee of any conveyance, ~ ti•ansfei•, or change of o«•ne~•ship of the premises, 11. That no waiver of any cnvenant herein or of the obligation secured hereby shall at any time thereafter be held to i~e a~aiver of the terms hereof or of the note secured hereby. 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may gerform the same, and sU 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 raortgagee, 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 maited Uy the United States mails, shall be suf~'icient notice ~ and demand in any case arising ~nder this instrum~nt and required by the provisions hereof or by law. 14. The mortgagor covenar.ts 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 wiU not execute or fiie 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 m~rtgagee may, at its option. ~ declare the unpaid baiance of the debt secured hereby immediately due and _payable. a~158 ~ 544 ':~",3' -~~'Ta~y>,c .:g .._Y, - . . " _ " _ . _ . _ _ . ,7~., - ~T¢~.C ~.4x'c_~ Y"l S~~'~ki"[ t'~ ff ~ M :3~~~ _ I ~ ' ' ~ ~-Y s - _v,_ _ ~~r.~"' • .