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Home My WebLink About0264 { li ' ~ ~ ` ' V flnea. or iinpositions. for which provision has not been msde hereinbefore, and in default thereo! the morG~ ~a~ee m~y pay the asme; snd thAt he will promptly d the ot~ ' ~pb therefor to the mortgagee. 5. That he ~viU permit, canmik or suffer no Ka~te~i~ airnaent~~ o~eterior~tion of aaid prnperty or snypart thereof; and in the event of the failure oi the mast~s~ur to keep the buildi~'?~s on aaid premisea and thaea to be erected on asid premises, or improvementa thereon. ia good repair~ the mortgagee m~,y m~tlce such repsira aa in iL diacretion it m~y deem nece8sary ior the proper preservation thereof. and 'the i~ll amount of each and every auch psymeat ahalt be immediately due uid payable. und shsll be secured by the Uen~ of thia mortQa~e. 6. That he wiU-pay ~Jl uid, ait~gutlar the costa. chsr~es. and expenses. including reaaonable law~rer's fees, and ~osta of abstracts of t~tle~ incurred or paid ~t aqy time bq the mortgagee because of the fatlure ~a the p~uet ai the mortg~?~or promptly and ful to perform the agreements and covenanta of said prnm- iaaory note u?d thia mort~a~e, ~nd said co~ts, ~es. utd expenaes shall t~e immediately due and pay- able and shail be aecured by the lien of thi~tmortQa~e. - . That he will keep the improvements now eziating or hereafter erected on the rnortga~ed prnperty. insured asm~y be required frnm t~tne to time by the mo aga inat loaa by ftre and other hazarda. caswlties, snd contingenciea ia auch ~uuounts and for au~riods aa may be required by mortgagee. ~nd aiU pay prnmptly. when dn any premiums on auch insursnce for ~ayment of v?hich proviaion haa not been made hereinbefora. ~ inauraace ahall be carried in c~ompan~ea approved by mortgagee and the policiea and renewals thereoi shall be held by mortgagee and have attached thereto loas payable cl~uses iD iavor oi snd in form acceptable to the mortga~ee. Ia event of loss he will give immediate notioe by mail to mortgsg~ee. and mortga~ee may make proof of loas •if not made promptly by mortgagor. and each insursnce eomp~u?y cancerned is hereb~? authorized and directed to make payment for suct~ losa directly to mortgs~ee instexd oi to mortgagor and mortgagee jointly~ and the inaurance proceeds. or sny thereof, nu~y be applied by mortgagee at its op~ion either to the reduction of the indebtedness he~secured or tfl the reatoration or repair of the pmperty damag+ed. In event of foreclosure of this mortgag~e or other transfer of title to the mortgaged prnperty in extinguishment of the indebteciness secured hereby. all ri t~ titie. and inter~t of the mortgagor in and to sny insurance policies then in force ahall paas to the p or grantee. ~ 8. Th~t the mortgagee may. at any time pending a suit upon this mortgage. apply to the court hav- ing jurisdiction thereof for ~pp~ ent of a receiver. and such eourt shall forthwith appoint a receiver of the premisea cov~ h~l and singular~ including all and sin~vlar the income, profits, issuea, sna revenues frnm whatever eource derived~ each and every of which~ it being expressly under- stood, ia hereby mortga~ged as if apecifkaHy set forth and deacribed in the granting and habendum clauses hereof. and auch receroer ahsll hsve ull the broa d snd effective functiona and powera in anywiae entruated by a court to a receiver. and such appointment ahall be made by such court ss an admitted equity and a matter of abaolute right to aaid mortgagee, and without reference to the adequacy or inad- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendants. and that auch renta, protita, income, issues. and revettues shall be applied by auch Xeceiver aooord' to the lien of thia martgag~e and the practice of aucb courk In the event of any default oh the psrt oi~e mortgagor hereunder, the mortgagor agreea to pay to the mortgagee on demand aa a reason- able monthly rental for the premisea an amaunt at ieast equivalent to one-twelfth (3;4j of the aggregate of the twelve monthly inatalimenta payabie in the then current year plas the actual amoimt of the annual taxea asse~aments, water rates, and inaurance premiuma for auch year not covered by the aforesaid mont~jr pa,ymentis. • . 9. That (a) in the e~ent of any breach of this mortgage or default on tlie part of the mo~~tgagor, oi• (L) in the event that an~~ of said sums of money hei~ein i~eferred to be not promptiy and fully paid ~cith- out demand or uotice, or (c) in the event that eacli snd evety the stipulations, agieements, conditions, and co~•enanta of said note and this mortgage, are not d"nly, pi^umptly, and fully perfoimeci; then in either o?• any such e~eut, tlie said aggregate sum mentioned in said uote then r~maining unpaid. ~~ith interest accrued to that time. and ali moneys secured hereby, shali become due and payable forthK•ith. o?• thei~eafter. at the optio~i of said mortgagee, as fe~ll~~ and completely as if all of the said sums of money ~~•ere orginally stipulated to be paid on such day, anything in said note or in this moi~tgage to the contrai•y not~~ ithstanding; and theirupon or thereafter, at the option of said moitgagee, ~~~ithout notice or demand. - suit at la~~ or in equity, may be prosecutecl as if all moneys secured hereby had matured pi•ior to its inati- tution. The mortgag~ee may foreclose this moi~tgage, as to tlie amount so declared due and payable, and the said prer_iises shail be sold to satisfy and pay the same togethei• ith cost~, expenses. and allowances. In caae of partial foreclosui~e of this tnortgage. the moi~tgaged premises shall be sold subject to the con- tinuing lien of this mo~~tgage foi• the amount of the debt not then due and unpaid. In such case the pro- ~ isions of this paragraph may again be availeci of •thereafter from time to time by the mortgagee. 10. That the mortgagor irill give immediate notice by mail to the mortgagee of any conveyance, !i•ansfei•. or change of o~rnei~ship of the premisQS. - ~ 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 secured hereby. i 12. That if the mortgagor default in any of the coveuants or agreementa contained herein, or in ; said note, then the mortgagee may perform the same, and all expenditures (including reasonable attor- i ney's fees) made by the mortgagee in so doing shall draw interest at-the rate set forth in the note secured hereby, aad shall be repayable immediately and without demand by the mortgagor to the mortgagee, aud, together with interest and costa accruing thereon, shall be secured by thia mortgage. 13. Tha~ 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 mortgag~e. or directed to said owner at said mortgaged premises, aad mailed by the United States mails, shall be sufficient notice and demand in any case arising under thia instrument and required by the provisions hereof or by law. ` 14. The mortgagor covenants and agrees that so long as thia mortgage and the said note secured hereby are inaured under the prnvisions of the Nationai Housing Act, he will not execute or fite for record aay inatrument which imposea a restriction upon the sa!e or occupattcy of tne mortgaged groperty on the baais of race. color, or creed. Upon any violation of this undertsking, the mortgagee may, stt ita option~ " deelare the unpaid balance of the debt secured hereby immediately due and p~yable. R ~ ; E ~ j ~ ~~~ss ~ zsz ~ ~ ~ ~ _ ~ _ ~ ~z _ _ - _ -