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Home My WebLink About1755 t ~ ` - . Snea. or itt~positions, for which pmvision haa nat been msde hereinbefore, and in default thereof the mort- ~agee m~y gsy the same; and that he will promptly deliver the o~cial receipta therefor to the mortga~ee. 5. That he will permit. commit, or suf[er no waste. impairment. or de!erioration of said Qropert~. or any part thereof ; and in the event of the failure of the mort~sgor to keep the buildings on aaia prem~ses and those to be erected on said premises~. or impmvementa thereon, ia good repuir. the mortgagee may make such repsirs aa in its discretion it may deem necesaary for the proger pr~ervation thereof. and the full amount oi e.gch an~i every such payment shaU be immediately due and payable. and shall be secured by the lien of thia mortgage. 6. That he will pay ~?11 and, singular the coata. charg~s. and expenses, including reasonabie IaH yer's ~ fe~. snd costs of abstracts of title~ incurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly and fully to perfurm the agreements and covensnfis of said prom- issory note and this mortgage, and said costs. chargea, and expenses ahall be immediately due and pay- able ~ued shall be secured by the lien of this mortgage. , 7. That he will keep the improvements now existing or hereafter erected on the mortgaged propert~•. ~ instired as may be required from time to time by the mortgagee against loss by tire and other hazards. ; casualties. and contingencies in such anounta and for such periods as may be requ~red by mortgagee. s and will pay prnmptly, ~vhen due, any premiums on such insurance for payment of H•hich prot~ision has ~ not been made hereinbefore. ~1! insurance shall be carried in companies approved by mortgagee and thp policies 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 wiU give immediate ; notice bp mail to mortgagee. and mortgagee may make proof o~ loss if not made promptly by mortgagor. ~ and each insurance company concerned is hereby authorized and directed to make payment for such ~ loss directly to mortgagee instead of to mortgagor and mortgagee jointly. and the insurance proceeds. or part thenof~ may be applied by mortgagee at its option either to the reduction of the indebteciness ~ h~ by secured or to the restoration or repair of the property damaged. In event of foreclosure of this ; mortgage or other transfer of title to the mortgaged property in extingu~shment of the indebtedness ! secured hereby. all right, title. and interest of the mortgagor in and to any insurance policies then in fone ! shall pass to the purchaser or grantee. 8. That the mortgagee may. at any time pending a sLit upon this mortgage. apply to the court hav- ~ ing jurisdiction thereof for the appointment of a recei~er, and such court shall forthH ith appoint. a ! receiver of the premises covered hereby all and singular, ;ncluding all and singular the incume. profits, 3 issues. and revenue~ frnm whatever source derived~ each and every of which~ it being expressly under• ~ stood. is hereby mortgaged as if specifically set forth and described in the grant~ng and habendum clauses hereof. and such receiver shall have all the broad and effective functions and powers in anywise ' entrusted by a court to a receiver. and such appointment shall be made by such court as an admitted E equity and a matter of absolute right to said mortgagee. and without reference to the ade.~uacy or inad- ~ equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the ~ defendants, anr~ that such rents. profits. income, issues. and revenues shall be applied by such recei~ er according to the lien of this mortgage and the praatice of such court. In the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee cn demand as a reason- abie monthly rental for the premises an amount~at least equivalent to one-twelfth (1;12) of the aggregate ; of the twelve monthly instailments payable in the then current year plus the actual amount of the annual ~ taxes assessments, water rates~ and inaurance premiums for such year not covered by the aforesaid i montfilY payments. ' 9. That (a) in the e~•ent uf an~• Ui•each af this mortgage or default un U~e part of the moi•tgagor, or ~ (1?) in the c~ent that a~~~- ot said sums ot mone~• he~•cin referreci to be not promptl~ and fully paid ~4ith- T out demand or ~wtice, oi• (c) in the e~ent that each and e~•er~~ the stipulations. agreements, conditions, ; and co~•enants of sxid note and this mortgage. are not du1y, p~~umptl~•. and full~• performeci : then in = eithri• or aut- sur{~ e~•cnt, tlie said aggregate sum me~?tionecl in said note then :•~~maining unpaid. ith ! interest accrued to Lhat time, and all moneys secui•eci hei-eby, shall become due and pa~able forth~~•ith. ~ ( oi• thereafte~•, at the optiou of said mortgagee. as fulh• and completeh• as if all of the said sums of mone~• # ~~•ere orginall~• sti~x~lated to be paid on such day. an3•thing in saicl note or in this moi•tgage to the contrary ' noh~-ithstaizding; and thereu~~n or thereafter. at the option of said mortgagee, ithout notice or demand. i suit at la~~- or in c~uit~•, may l~e pi•osecute~l as if all mone~•s secureci hereb~ had_ matuyed prior to its insti- tution. The moi•tgagee mas fo~•eclose this moi•tgage. 1s tQ the amount so declared due and payable. and the said premisrs shall be sold to satisf3 anci pa~- the same together ~~•ith cost~. ~xpenses. and allo~~•ances. ~ ln case of pai~tial forerlosure of this~mo?•tgage, the mortgagecl pi•emises shall be sold subject to the con- tinuing lien of this mo~~tgage for the amount of the ~lebt not then due and unpaid. In such case the pra ; ~ ~•isions of this paragraph fna)~ again be a~•ailed of thereafter from time to time b~• the mortgagee. ° ~ ~ 10. That the mortgagor ~~-ill gire immediate notice b~~ mail to the mortgagee of an~• con~~e~•ance. trausfer, or change of o~~-ne~ship of the premises. 11. That no ~~•aiver of any co~ enant herein oi- of the obligation secured hereby shall at any time the~•eafter be held to be a H•aiver of the terms hereof or of the note secureci hzreby. 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 reas~nable 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 repayable immediately and v?ithout demand by the mortgagor to the mortgagee, and, together with interest and costs accruing thereon, shall be secured by'tnis 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 mailed by the United States mails, shall be sufi'icient notice - and demand in any case arising under this instrurr~ent and required by the provisions hereof or by law. 14. The mortgagor covenants 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 will not execute or file for record ~ any instrument which impos~s a restriction upon the sale or cecupancy of tne mortgagcd property on the ~ basis of race, color, or c. eed. Upon any violation of this undertaking, the mortgage.e may, at its option, declare the unpaid balance of the debt secured hereby immediately due and payable. ~ ~ ~ u~ y^ ~ ? ~ '.:~r a Y ~Y '~L„~' ~ ~ ~~l,y,,~~~ 4G+ 'i ~~~I~~ ...F.e~ _ ' R ~ ~ _ :