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Home My WebLink About0249 - ~ 5. That ha will permit~ commit. or suffec np ~~~te.'Impairv~entf oc deteriaation of said p~openy or any part thec~of; and ia the event of the feilure of the mortgagor to keep the buildings on seid premises aad those tobe erected on sald pcemises. oc improvemeats the~eon. in good repau, the modgagee mey make such tepairs as in its ~ discretioa it may deem necessary foc the proper presenration thereof. and the tull amouni of each and every sucb payment shall be immediately due and payable~ and shall be secured by the lien oE this a?ortgage. 6. That he will pay all and singular the costs, charges, ertd expenses, including reaso~able lewyer'a fees. and costs of abstracts of title~ incurred or paid at sny time bythe mortgagee because of the failure on the part of the me~tgegac promptly artd fully to pecfam the agreements and covenants of said promissocy note and this mort-- gag~, and said costs, cherges. and expenses shal! be ima4ediately due aad peyable and shall be secured by t6e lien aE this mortgage. 7. That he will keep the improvemeats now existing oc hereafter ecected on the modgaged pcopedy. insuced as may be required fmm time to time by the matgagee against loss by fire a~d othec hazards, casualties, and contin- ge~cies in such amou~ts and fo~ such pe:iods as may be rec~uired by matgagee. and will pay promptly~ when due. any premiun~s on such insurance tor payment of which pcovisio~ has not beea made hereinbefore. All ir~sorance shall be caaied in companies appcoved by mortgagee aad the policies and renewals thereof shall be held by moct- gagee aAt] have attached thereto loss peyable clauses in favoc of and In form acceptable to the mortg,agee. In event of loss he will give immediate notice by mail to matgagee. and mortgage4 may make proof of Ioss if not made promptly by mortgagoc. and each insuraace company concerned is heceby authorized and directed to make Qayme~t for such loss directly to mortgagee instead of to matgaga and matgagee jointly, and the insurance pro- ceeds. or any part thereof. may be applied by mortgagee at its option either to th~ reduction of the indebtedness hereby. securecl or to tbe restoration a repair of the propedy damaged. Ia event of faeclosure d this modgage oc other transfer of title to the mortgaged propedy in extinguishment of the indebtedness secured hereby, all right. title, and interest of the mortgaga in and to any insurance policies then in force shall pass to the purchaser or grantee. • 8. That the matgegee may. at any time pending a suit upon this matgege, apply to the court having jurisdic- tion thereof for the appoint~oent of a receiver, and such court shall focthwith appoint a receiver of the premises covered hereby all and singular, including all and singular the i~ome~ profits. Issues, and revenues from whatever source derived, each and every of which~ it being expressly understood. is hereby mortgaged as if specificall; set forth and described in the granting and habeadum clauses hereof, aad such receiver shall have all the broad aad - - effective functions and powers in anywise entrusred by a court to a ceceiver, aad such appointment shall be made - by such coud as an admitted equity and a matter of absolute right to said mortgagee. and withont reference to the adequacy or inadequaey af the value of the propedy mortgaged or to the solvency a iasolvency of said mortgagor or the defendents. and that sucfi rents, proEits, inceme. issaes, and revenues shall be applied by such receiver accading to th~ lien of this morigage and tne practi~~ of such court. In the event of any default on the pad of the modgagor hereunder. the mortgagor agrees to pay to the mortgagee on demand ~s a reasoaable monthly rental for the premises an amount at least equivalent to one-twelfth (1/12) of the aggxeg,sTe of the twelve monthly install- ments payable ia the then current year plus the actual amount of the annual taxes, assessmeats~ ~water rates. and insurance premiums for such year not c~vered by the aforesaid monthly payments. 9. That (n) in the event of any breach oE this mortgage or default on the pad of the modgagor, or (b) in the event that any oE sai~ sums of money herein referred to be not promptly and fully paid without demand or aotice, or (c) in the event that each and every the stipulations, agreements. conditions, and covenants of said note and this mortgage, are not duly~ promptly. and futly pedormed; then in. either or aay such event. the said aggtegate sum mentioaed in said note then remaining unpaid, aith interest accrued to that tim~, and all moneys secured hereby. shall become due and payable forthaith. oc thereafter, at the option of said moctgagee. as fully aad com- pletely as if alI of the said sums of money were origiaally stipnlated to be paid on such day, anything in said aote a in this modgage to the contrary notwithstanding; and ther~upon or thereafter. at the option of said matga- gee, without notice or demaeN, suit at law or in eqnity, may be prosecuted as if all mooeys secured hereby had ' matured pria to its institntion. The mortgagee may foreclose this mortgage, as to the artwunt so declared due and payable, and the said premises shall be sold to satisfy and pay the same together with costs, expenses,and allow- ~ ances. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- tinuing lien of this mortgage for the amount of tbe debt not then due and unpaid. Ia snch case the provisions of this paragraph may again be availed of thereaher from time to time by t6e mortgagee. 10. That the mortgagor will give immediate notice by mail to the modgagee of aay conveyance. transfer, or chaage oE awnership of the premises. 11. That no waiver of any covenant herein or of the obligation secuced hereby shall at any time thereatter be held to be a waiver of the terms hered or of the note secured heceby. 12. T6at if the mortgagor default in any of the covenants or agreeanents contaiaed berein, or in said note~ then the mortgagee may perform the samg, and all expenditures (including reasoaable attaney's fees) made by the . mortgagee ia so doing shall draw iaterest at the rate set forth in the note secured hereby, aad shall be repayable immediately and withont dam~by the mortgaga to the mortgagee, and, together with interest and costs accraing thereon, shall be secured by this modgage. • 13. that the mailing of a written notice oc demandaddressed to the oarner of recotd of ttie ~nodgaged premises, or dicected to the said awner at the last address actually furnished to the modgagee. or directed to said ovvner at said modgaged premises, and mailed by the United States mails. shall be safEicient notice and demand in any case arising under this instrument and required by the pravisions hereaf or by law. 14. The modgagor covenants and agrees that so long as this moctg,age and the said note secured hereby are insured under the provisions of the National Housing Act, he will not execute or file foc record aay instrument which imposes a restriction upon the sale or occupancy of the mortgeged pcopedy on the basis of race, coloc, or ~ creed. Upon any violation of this undertaking, the martgagee ~nay, at its option, declare the unpaid balance of the debt secured heceby immediately due and payable. 15. The modgagor further coveaaats that should this mortgage and the note secured hereby not be eligible for insurance under the Natioaal Housing Act vvithin 3o DpYS from the date here~ (wcitten statement of any officer of the Depadment of Housing aad Utban Deve~ top'bnent or aut6orized agent of the Secretary of Hous- ing and Urban Development dated subsequent to the~~ ne~c time from tbe date ~ this modgage, declining to insnre said aote and this mortg,ege, being ~Q' ahcl~sive proof of such ineligibility)~ the modga- gee or the holder of tbe note may, at its option, declare all sums secnred hereby immediately due and payable. The covenaats herein contained shall bind, and t6e beoefits and advaatages shall iaure to, the respective heirs, execntas, edministratas, successocs, and assig~s af the paities hereto. Whenever used, the singular aum- ber shall iaclnde the pliual, t6e plural the singulac, and the use of aay gender shall include all genders. ~ ~ b00K 180 ~ ~ ' " ~ : , - - - . - _ ~ - . - ~ ms