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Home My WebLink About1173 . ~ € if . , ; • 1 8 esr or impositiona. for which provision lsa~' J s f mad~ ~rei~before~ and in default thereof the mort- -~e ~cu,y pay the aame; and that he will promn~~eliver the of8cial receipts therefor to the mortgagee. ~ That he will permit. commit~ or sutier no waate. impairment, or deterioration of said property or _auy part thereoi; and ia the event oi the failure of the mortgag~or to keep the buildings on aain prem~sea ~nd ~hoae to be erected on said premiaes~ or impmvements thereon, in good repair. the mortgagee may make auch repaira aa in its discretion it may deem necesaary for the proper pr~ervation thereof. and the fuU acnount of ench and every auch pa~?ment shall be immediately due and payable, and ahall be secured - by the lien of this mortga~e. 6. That he will pay all and, aingular the casta. charges. and ~expenaes. including reaaonable lawyer'a feea. and oo~sta of abatracta of title~ incurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly and ful~yr to perform ~he agreementa and covenants of said prom- iaaory nots and this mor . and said costs, c~arQes~ and expenaes ahall be immediately due and pay- ~ able and ahnll be secured by~ie lien of thia mortgage. 7. That he wiil keep the improvementa now exiating or hereafter erected on the mortgaged pmperty, inaured aa may be required fmm time to time by the mortgagee agsinst loss by fire and other hazards, casualtiea. and contingencies in auch amounts and for such periods as may be required by mortgagee. and wrill pa,yprom pt1y. when due, any premiuma on such inaurance for payment of which provision haa not been made here~nbefore. All insnrance shall be carried in companies appro~ ed by mortgagee and the policiea and renewals thereof shall be held by mortgagee and have attached thereto loss pa~ able . clausea in favor of and in form acceptable to the mortgagee. In event of loss he will give immediate notice by naail to mortgagee, and mortga~ee may make proof of loss if not made promptly by mortgagor, , -and each inaurance cempany concerned is hereby suthorized and directed to make payment for such losa directly to mortgagee instead of to mortgagor and mortgagee jointly. and the insurance proceeds. or anypar~ thereof~ may be~~applied by}~ortgagee at its option either to the reduction of the indebtedness here6y secur~ Qr b~ the~.ir~etbra?~io~! br 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 force shall pasa to the purchaser or grantee. ~ ' 8, thb p~rtg~ge~ may, ait time pending a suit upon thia mortgage. apply to the court hav- ing jur~on thereof for the a~pointment of a receiver, and such court ahall forthwith appoint a receiver of the premise~; tpqex~d herebY a11 and singular, including all and singular the income. profits. ~ issues. and revenuea from w1~~R~ source derived~ each and every of which~ ~t being expressly under- stood. is here ed ~itk811Y set forth and described in the granting and habendum clauses hereof~ and §~o~~ ~r~~~6 all the aroad and eRective functions and powers in anywise entrusted by a'~ddt~ to a receiver. and such appointment ahall be made by such court aa an admitted equity and a matter of absolute right to said mortgagee. and without reference to the adequacy or inad- equacy of the value of the property mortgaged or to the aolvency or insolvency of said mortgagor or the defendants, and that such rents, pmfita„ income, ieaues, and revenuea shall be applied by such receiver according to the lien of this mortgage and the practice of auch conrt. In the event of any default on the part of the mortgagor hereunder. the mortgagor agrces to pay to the mortgagee on demand as a reason- able monthly rental for the premises an amount at least equivalent to one-twelfth (!;Y) of the aggregate of the twelve monthly installments payable in the then current year plus the actuai amount of the annaal taaea asaesaments~ water rates~ and inaurance premiums for such year not covered by the aforesaid mont~lY P83R?'ients. 9. That (a) in the e~•ent of any b~~each of this mortgage o~• ctefault on the part of the moi~tgagor, or (L) in the event that any of said sums of money hercin referred to be not promptly and fully paid ~4ith- out demand or notice. or (c) in the e~ent that eacli and every the stipulations, agi•eements, conditions. and co~enants of saic! note and this mortgage, are not duly, pi~mptly. and fully perfoimed; then in either or a~~y such e~•ent. tlie said aggregate sum mentioned iu sttid note then ~ti~maining unpaid. ~~~ith ; interest accrued to that time. and all moneys secured hei~eby, shall become due and payable forth«ith, oi• thereaftei•, at the option of said moi~tgagee. as full~• and completely as if all of the said sums of money a•ere oi•ginall~~ stipuiated to be paid on such day. anything in said uote or in this mortgage to the contrary not~~ ithstanding; and the~•eupon or thereafte~•~ at the option of said moi~tgagee, ~~•ithout notice or demand~ i suit at la~r or in equity, may t~e pi•osecuteci as if all mone~ s secured hereby had matureci pi•ior to its insti- tution. The mortgagee may foreclose this moi~tgage, as to the amount so declared due and payable. and the said premises shall be sold to satisfy and pay the same togethei• ~rith costs, expenses, and allow•ances. In case of partial fo~rclosu~•e of this mortgage. the mortgaged premises shall be sold subject to the con- tinuing lien of thjs mortgage for the amount of the debt not then due and unpaid. In such case the pro- ~ isions of this pai•agraph may again be availed of tl~ereafter flbm time to time by the mortgagee. 10. That the mo?•tgagor ~~•ill give immeciiate notice b~ mail to the mortgagee of any conveyance~ transfer, oi• change of o~~•ne~~ship of the pi•emises. 11. That no waivei• of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to Ue a waiver of the terms hereof or of the note secured hereby. 12. That if the mortgagor default in any of the covenants or agreementa 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 draw interest at the rate set forth in the note secured hereby, snd shall be repayAble immediately and without demand by the mortgagor to the raortgagee, and, together with intereat 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 lest address actually furnished to the mortgagee, or directed to said owner at said mortgaged premises, and mailed by the United States mails, shall be sufficient notice and demand in any case arising under this instrument 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 wiu not execute or file 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 undertaking~ the mortgagee may, at its option. declare the unpaid balance of the debt secured hereby immediately due ~tnd payable. _ d~164 ~si?2 ~ ; ~F~ ~ _ ~ . - _ - :-a -