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Home My WebLink About1333 ~ ~ Rnes. or impositioiis. for v+ hich pro~ ision has r.ot be~n made hereiat~efore~ and in defauit thereof the mort- ; gagee may pay the same; and that he will promptly deliver the oflkial receipta therefor to the mortgagee. 5. That he will permit. commit~ or suffer no waste. impairment. or deterioration of said properta. or t auy part thereof; and in the event of the failure af the mortgagor to.kPep the buildings on said prem~ses ~ and those to be erected on said premises. or impr~~ven~enta thereon. ~n good repa.ir. the mort~cagee may ; make such repairs as in its discretion it may deem necessary for the proper preservation thercof, and the ~ i ~ul! amount of each and e~•ery sacn payment shall be immediately due and payable. and shall be secured t by the lien of this mortgage. ~ ~ 6. That he uill pay al! and singular the costs, charges, and expenses. including reasonable la~r~er's ~ fees. and costs of abstracts of title~ incurred or paid at any time by the mortgagee because of the failure s on the part of the mortgagor promptly snd fully to perform the agreements and coren~nts of said prom- ~ issory note and this mortgage, and said casts. charges~ and expenses shall be immediately due and pay- ~ a~ile and shall be se~ured by the lien of this mortgage. That he will keep the improvements now existing or hereafter erected on the mortgaged propert~. ' insured as may be required from time to time by the mortgagee against loss by fire and other hazarcis, ~ casualties. and contingencies in such amounts and for such periods as may bc required by mortgagce. ~ and will pay promptly. when due~ any premiums on such insurance for pa~•ment of ~~hich pro~ision has = not been made hereinbefore. All insarance shall be carried in companies uppro~•ed by morigagee and ? the policies and renew als thereof shall be held by mortgagee and ha~ e attached thereto loss pa~•able clauses in favor of and in form acceptable to the mortgagee. In event of loss he ~~•il! gi~•e in~mediate notice by mail to mortgagee~ and mortgagee may make proof of loss if not made promptl~ by mortgagor~ and eaeh insurance company concerned is hereby authorized and directed to make pay ment foi• such ; loss direetly to mortgagee instead of to mortgagor and mortgagee jointly, anci the insurance proceeds, or any part thereof. may be applied by mortgagee at its option eithe~r to the reduction of the indebteclness hereby secured or to the restoration or repair of ihe property damaged. In e~~ent of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishmPnt of the indebteclness secured hereby. all right, title. and interest of the mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. 8. That the mortgagee may, at ariy time pending a suit upon this mortgage, apply to the court hav- { ing jurisdiction thereof for the appointment of a receiver, and such court shall forth~ti ith appoint a receiver of the premises covered hereby all and singular. including all and singular the income. profits. issues, and revenues from whate~er source derived~ each and e~ery of Hhich~ it being expressly under- stood. is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof~ and such receiver shall have all the broad and eRective functiorts and po~ers in an}•~rise entrusted by a court to a recei~er, and such appointment shall be made by such court as an admitted equity and a matter of absolute right to sajd mortgagee. and without reference to the adequac~• or inad- equacy of the value of the praperty mortgaged or to the solvency or insol~enc~ of said mortgagor or the defendants. and that such rents, profits, income, issues. and revenues shall be applied b~ such recei~ er according to the lien of this mortgage and the practice of such court. In the e~ent of any defauit on the part of the mortgagor hereunder, the 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-twelfth of the aggregate of the twelve monthly installments payable in the then current year plus the actual amount of the annual taxes assessments, tiater rates~ and insurance premiums for such year not co~•ered by the aforesaid mont~ilY payments. 9. That (c~) in the e~~ent of an~• brearh of fhis mc.~i•tgage ur ~lefat~lt o?~ thc pai•t of the mortgagoi•, or (l,) in the e~•ent tlizt ait~• of said sums ot moner hE~reiii i•efei•red to Lx~ not p?•t?mpth• and fulh• paici ~~-ith- out ciemand or uotice, or (c) in the e~~ent that earh and e~•er~• the stipulati~~ns, agreements, conditions. and cocenants of s~tict note and this mortgage. are not cIu[~'. pr~nn~~th-, anct fult~- pe~•formrd ; then in ~ilhet• o~• xn~• surh e~-e~~t. th~• sai~i .t~gr<<gate sum nu~ntic,nec) in saii! note th~~n rrmaining un)k~tid. ~~•ith interest aeet•t~ed tu that time, at~d all munc~~•s sc~-ui•c~cl hereby. shall Ix~ome ~lue ancl pa~•able forth«ith, o?• tlte~•eafter, at the uption uC said moi•tgagec, as fulh• a~id romplrt~~l~• as if ail of the said sums of moner ~~-ere ui•ginalh• stipulated to Ix paid on such da~~, an~•thiug in said note or in this moi•igage to the contraz•~• not~~-ithstandi~ig; and th~•rc upu~~ ot• ther~afiei•. at t1~e option of saicl mortgagee. ~~•ithoi~t nu±ice or demand, suit at la»- oi• in c~aih-, ma~• k~e prosc~cuied as if all mouecs secur~~cl hereb~• had matu?•ed prior ta its insti- - tution. The moi•tgagee ma5 forerluse this moi•tgage. as to t{i~ amount so dcrtared due and pa~•ab1e. anci the said premises tihall be solcl ta satisf~• an~i pa~• the sarne together ~~-ith costs, ex~xnses. and allo~~•ances. in rase of partial I'~~r~~closure of this moi•tgage. the mrn•tgage~l premises shall be sold subject to the con- tinuing lien of this murtgage for the amount of tl~e ~icbt not then due an~l w~paid. In such tase the pro- ~isions of this parag?•apii ma~~ again be araile~l of thereafter from time to time b~• tf~e mortgagee. 10. That the mortgagu?• ~~-ill gi~-e immediate notice 1~~- fnxii tu the mort~gee of ar~~• conrc~-ance. - t~•xnsfer, or change of o~~-nership of the ~zremises. 11. That no «•ai~•er of an~• co~•enant herein or of the ol~li~ation secured herebr sha!! at .~~~i iime thereafter t~e hetd to I~e a ti~-ai~•er of the terms hei•eof or of the n~te secui•eci hereb~•. 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 (including reasonable attor- ney's fees) made by the mortgagee in so doing shall dra~ interest at the rate set forth in the note secured hereUy, and shall be repa} able immediately and K•ithout demand by the mortgagor to the mortgagee, and, together with interest ar~d costs accruing thereon, shall be secured by this mortgage. 13. That the mailing of a written notice or demand addressed to the o~~•ner of record of the mortgaged premises, or directed to the said o~.ner at the last address actually furnisi?ed to the mortgagee, or directed to said o~ ner at said mortgageci premises, and mailed by the G'nited States mails, sha11 be s4fficient notice and demand in any case aris:ng under this instrument and reqaired b~ the pro~•isions hereof or by law. 14. The mortgagor co~•enants and agrees that so long as this mortgage and the said note secured hereby are insured ur~der the provisions of the I`ational ~ioasing Act, he will not execute or file for record any instrument which imposes a: estriction u~wn the sale or occupancy of tne mortgaged propert~ on the basis of race, celor, or creed. Upon any violation of this undertaking, the mortgagee inay, at its option~ dec!are the unpaid balance of the debt seeured here~~y immediately due and pa~able. aooK1~Q PACf 13~ ~ ~ r - _ r~~~~ ~-1~~, .~~`v. ~ ~ _ z ~ , ~ = . ` e _