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Home My WebLink About1313 l ' t . : ? • ~ a~.~ i flnes, or impoaitiona. for which proviaion has not been made hereinbefore. uid in defsult thereof the mort- g~ee may psy the aame; and that he will pmmptly deliver the of~cial receipta therefor to the mort~agee. 5. That he wiU permit. commit~ or suffer no waate. impairment~ or deteriontlon of said property or sny pait thoreoi; and in the event of the iailure oi the mo r to keep the buildings on said premisea and those to be erected on aaid premisea. or improvementa~ u, in good repair. the mortgagee may auke auch repaira aa in ita discretion it m~y deem necessary for the proper pre~ervation thereof. and the full amount oi each nnd every such p~yment shall be immediAtely due and payable, and shall t,e aecured by the Uen of thia mort~~ge. 6. That he will psy sll and, aingulsr the :,aata. charges, and expenses, including reasonable laK yer's ie~ and costs of abstracta of t~tie~ incurred or psid at any time by the mortgagee because of the failure on the part oi the mortgagor promptty and iully to perform the agreementa and covenanta of aaid prom- iaaory note and this mortgage. ~nd aaid coata. charQes~ and expenaes ahall be immediately due and pay- able and shall be secured by the lien of this mortga~e. Ths~t he will keep the impmvementa now existing or hereafter erected on the mortgaged property, insured asm~y be required from time to time by the mo gagceagainat loaa by fire and other hazards. casualtiea. and contingenciee in auch amounta and for su~ch perioda aa may be required by mortgagee. and arill pe~y pro~mptly. when due, any premiums on such inaursnce for payment of which provision has not been made here~nbefore. All insurance ahall be canied in companies approved by mortgagee and the policies and renewals thereof ahall be held by mortgagee and have attached thereto losa pa~ able clausee in favor of and in form acceptable to the mortgagee. In event of loss he will give immediate notice by mail to mortgagee, and mortga~ee may make proof of loss if not made promptly by mortgagor, snd each inaurance company concerned ia hereby authorized and directed to make payment for such loea directly to mortgagee inatead of to mortga8or and mortgagee jointly, and the insurance proceeds. or any part thereof~ may be applied by mortgagee.at ita option either to the reduction of the indebtedness hereby secured or to the restctration or repair of the property damaged. In event of foreclosure of this mortgage or other tranafer of title to the mortgaged property in extingu~shment of the indebtedness aecured hereby. all right~ title, and intereat of the mortgagor in and to any insurance policies then in force ahsll pasa to the purchsaer o~ gr`aante~ 8. That the mortgagee `te~~; ~time pending a suit upon this mortgage. apply to the court hav- ing jurisdiction thereof for the a~~Pon?traent of a receiver~ and such court shall forthwith appoint a receiver of the premises covered hereby all and singular. including all and sing~lar the income. profits. isaues. and revenues from whatever aw~rce derived~ each and every of which. it being expressly under- stood. ia hereby mortgaged as if apeciftcally set forth and deacribed in the granting and habendum clauses hereof~ and auch receiver shall have all the broad and effective functiona and powers in anywise entrusted by a court fo a receiver, and such appointment ahall be made by such court as an admitted equity and a matter of absolute 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 defendanta, and that such rents. prnfits, income, isaues. and revenues shall be applied by such recei~ er aocording to the lien of this mortgage and the practice of such cour~t. In the event of any default on the part of the mortgagor hereunder. the mortgagor agrees to paY to the mortgagee on demand as a reason- able monthly rental for the premises an amount at lesst equivalent to one-twelfth (!1z) of the aggregate of the twelve monthly installments payable in thQ then current year plus the actual amount of the annual tax~s sasessments. water rates, and insurance premiums for such year not covered by the aforesaid mont~lY PsYmenta. 9. That (a) in the erent of any b~~each of this moi•tgage oi• default on tlie pai-t of the moi~tgagoi•. oi• (G) in the e~ent that any of said sums of mone~~ herein i~eferred to be not promptly and fully paid ~~ith- out demand or iiotice, or (c) in the e~ent that eacli and every the stipulations, agreements. conditions, and co~•enauts of saici note and this mortgage, are not duly, pi~umptly. and it~llv performed; then in eithei• oi• any surh erent. tlie said aggregate sum me~itioned in said note then r~•ma~ning unpaid, ~~•ith interest accrued to that time. and all moneys secured hereby~ shall become due and payable forth~~•ith. ~ m• therea[ter~ at the optio~~ of said moi•tgagee, as full~ and completely as if all of the said sums of mone~~ f ~~•ere orginalh stipulated to be paid on such day, anything in said note or in this mortgage to the contrary i not~~ ithstanding; and thereupun or thereafter. at the option of said mortgagee, ~~•ithout notice or demand, i suit at la~~• or in equity. may be pi•osecuted as if all moneys secureci hereby had matured prior to its insti- i tution. The mortgagee may foreclose this moi~tgage, as to the amount so declaz•ed due and payable, and E the said premises shall be sold to satisfy and pay the same together H•ith costs~ expenses, and alloti•ances. In case of pai~tiai foreclosu~•e of this mortgage, the mortgaged pi•emises shall be sold subject to the con- ~ tinuing lien of this mortgage foi• the amount of the ciebt not then due and unpaid. ln such case the pro- ~•isions of this pai•agraph ma~• again be availeci of thei•eafter from time to time b~• the mortgagee. 10. That the mo~•tgagor ~rill give immediate notice b~• mail to the mortgagee of any con~•e~•ance, transfer. or change of o~rnership of the prnmises. 11. That no w•aiver of any covenant herein or of the obligation secured hereUy shall at any time thereafter be held to Ue a w•ai~er of the terms hereof or of the note secureci hereby. 12. That if the mortgag~or 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, shalt 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.. 14. The mortgagor covenants and agrees that so long as this mortgage and the said note secured hereby are insured under the pmvisions of the National Housing Act, he will 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 undertxking, the mortgagee may. at its option, declare the unpaid balance of the debt secured hereby immediately due ~tnd payable. , _ . . _ - ~ _ - _ _ . n ~ _ w _ - _ -