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Home My WebLink About2961 ~ . 3 . . ~ , , Snea. or impositions. for which provision has not been made hereinbefore. and in default thereof the mort- ' Qagee may pay the same; aiid that he will promptly deliver the of~cial receipta therefor to the mortgagee. 5. That he will permit. commit, or suf~er no waste. impairment, or deterioration of said property or aqy park ~hereof ; and in the event of the failure of the mortgagor to keep the buildings on sain prem~ses and thase to be erected on said premises~ or improvementa thereon, in good repair~ the mortgagee may make such repaira as in its discretion it may deem necessary for the proper pr~ervation thereof. and the full amount of each and every such payment shall be immediately due and payable~ and ahall be secured by the lien of this mortgage. 6. That he will pay all and singular the costa, charges~ and expenses. including reasonable la~+yer's fees. and costs of abstracta of title~ incurred or paid 'at any time by the mortga~ee because of the failure on the part of the mortgagor promptly and fully to perform the agreements and covenants of said prom- issory note and this mortgage. and said costs~ chargea~ and expenses ahall be immediately due and pay- ~ able and shall be secured by the lien of this mortgage. 7. 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 loss by fire and other hazards. cssualties. and contingencies in such amounta and for such periods as may be required by mortgagee. and will pay prompt~j?. when due, any premiums on such insurance for payment of ~ hich pro~ ision has not been made hereinbefore. All insurance shall be carried in companies appro~ ed by mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto loss pa~•able clausea in favor of and in form acceptable io the mortgagee. In event of loss he will give immediate notice by mail to mortgagee. and mortgagee may make proof of 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 snypart thereof. m~y be applied by mortgagee at its option either to the reduction of the indebteciness hereby secured or to the iestoration or repair of the property damaged. In event of foreclosure of this mortgage or other transfer of title to. the mortgaged prnperty in extinguishment of the indebtedness secured hereby. all right, title~ and interest of the mortgagor in and to any insurance policies then in force ahaA 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 jurisdiction thereof for the appointment of a receiver~ and such court shall forthwith appoint a receiver of the premises covered heteby all and singular, including all and singular the income, profits, issues, and revenues fmm whatever aource derived~ each and every of which, it being expressly under- stood. is hereby mortgaged as if apecifically set forth and described in the granting and habendum clauses hereof~ snd such receiver shali 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 equity and a matter of absolute right to said mortgagee~ and without reference to the adequac~ or inad- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendanta. and that such rents. profits. income, issues. and revenuea shall be applied by such recei~ er according to the lien of this mortgage and the practice of such court. In the event of any default on the part of the mortgagor hereunder, the mortgagor agreea to paY to the mortgagee cn demand as a reason- y able monthly rental for the premises an amount at least equivalent to one-twelfth (!;Z) of the aggregate i of the twelve monthly installments payable in the then current year plus the actual amount of the annual taxes assessments, water ratea, and insurance premiuma for such year not covered by the aforesaid montfilY PaY~r?ents. 9. That (a) in the e~•ent of any bi~each of this moi•tgage oi• default on tl~e part of the mortgagor, oi• ( G) in the e~ent that an~• of said sums of mone~• herein i~eferred to be not pi•omptly and fully paid ~~~ith- out demand or notice. or (c) in the event that eacii and e~e~•y the stipulations, agceements, conditions, and co~enants of said note and this mortgage, are not duly. p~•omptl~•. and full~• performed; then in eithei• or any sur{~ e~-ent. the said aggregate sum mentioned in said uote tlie~i rrmaining unpaid, ~~•ith i ' interest accrued to that time, and all mone~~s secui•eci hei•eby, shall become due and payable forth«ith. i i oi• thereaftei•. at the option uf said mortgagee. as full~~ and completely as i[ all of the said sums of mone~ j ; a•ere orginall~• stipulated to be paid on such day. anything in said note o~• in this mortgage to the contrary { ~ not~rithstanding ; and thei•eupon or thei•eafter, at the option of said mortgagee, ~~•ithout notice or demand, suit at la~~- or in ecluity, ma~~ be prosecuted as if ali moneys secw•ed hereby had matui'ed prior to its insti- ; tution. The mortgagee may foi•eclose this mortgage. as to tlie amount so declai•ed due and payable. and ~ the said p~•emises shall be sold to satisfy and pa~~ the same together ~~-ith costs, expenses. and allow•ances. In case of pai•tial foreclosure of this moi~tgage, the mortgaged premises shall be sold subject to the con- ? tinuing lien of this mortgage for the amount of the ciebt not then due an~l unpaid. In such case the pro- ~•isions of this paragraph may again be arailed of thereafter from time to time b~• the mortgagee. 10. That the mortgagor «•ill gi~•e immediate notice b~ mail to the mortgagee of any com•eyance. lransfer. or change of o~~•nei•ship of the premises. 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the note secureci hereby. 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 draw interest at the rate set forth in the note secured hereby, and shall be repayable immediately and without demand by the mortgagor to the mortgagee, 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 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. 4 ~ !4. 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 1 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 and payable. ; BflOK~~ Pl~(~~~~ r ~ ~ _ - _ ~ ; ~~~ti~ _