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Home My WebLink About2063 S. That he will permit, commit, or suffer no waste, impairment, or. deterioration ot said property o~ any part thereof; and in the event of the failure o( the mortgagor to keep the buildi~gs on said premises and those tobe erected on said ptemises, or imptovements thereon, in good repair, the modgagee may make such ~epsiirs as in its disccetion it may deem necessary fo~ the proper presecvation thereo[, and the full amount ot each and every such payment shall be immediately due and payable, and shall be secuied by the lien of this mortgage. 6. That he will pay all and singular the costs, charges, and expenses, including reasonable la~~yer's fees, and costs of abstracts of title, incurred or paid at any time by the mortgagee because ot the failure on the part of the mortgagor promptly and fully to perform the agceements and covenants of said promissory note and this mort- ; gage, and said costs, charges, and expenses shall be immediately due and payable and shall be secured by the lien ot ihis mortgage. 7. That he will keep the improvemenis now existing or hereafter erected on the mortgaged property, insured as may be required itom time to time by the moctgagee against loss by fire and other hazards, casualties, and contin- gencies in such amounts and for such periads as may be required by mortgagee, and will pay promptly, when due, any premiums on such insurance tor payment of which pro~•ision has not been made hereinbefore. All insurance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall be held by mort- gagee and have attached thereto loss payabte clauses in favor o[ and in form acceptable to the mortgagee. In event of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss i[ not : made promptly by mortgagor, and each insurance company concecned is hereby authorized and directe.-~ to make payment for such loss directly to martgagee instead o[ to mortgagor and moctgagee jointly, and the insurance pro- ceeds, or anl• part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of [oreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in force shatl pass to the purchaser or grantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, apply to the court having jurisdic- tion thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered hereby all and singular, including all and singular the income, profits, issues, artd revenues from whatever source derived, each and eve~y of which, it being expressly understood, is hereby mortgaged as i( specifically set forth and described in the granting znd habendum clauses hereof, and such receiver shall have all the broad and effective functions and powers in an~•wise entrusted by a court to a receive~, and such appointment shall be made t by such court as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the F adequacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor ~ or the defendents, and that such rents, profits, income, issues, and revenues shall be applied by such receiver S 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 agcees to pay to the mortgagee on demand as a reasonable monthly rental for ~ the premises an amount at least equivalent to one-twelfth (1112) of the aggregate of the twelve monthly instalt- ments payable in the then current ~ear plus the actual amount of the annual taxes, assessments, water rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 9. That IuJ in the e~~ent of any breach of this mortgage or default on the part of the mortgagor, or (6} in the e~•ent that any of said sums of money herein referred to be not promptly and fully paid without demand or notice, or in the event that each and evecy the stipulations, agreements, conditions. and covenants of said note and this mortgage, are not duly, promptly, and fully performed; then in eithe~ or any such event, the said aggregate sum mentioned in said note then remaining unpaid. ~ ith interest accrued to that time, and all moneys secured hereby, shail become due and payable forthwith, or thereafter, at the option of said mortgagee, as fully and cc,m- pletely as iE all of the said sums of money were originally stipulated to be paid on such day, anything in said note or in this mortgage to the contrary notwithstanding; and thereupon or therea[ter, at the option of said mortga- - j gee, w ithout notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had ~ 'i matured prior to its institution. The mortgagee may foreclose this mortgage, as to the amount so declared due and ' ; pa~~able, 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 the debt not then due and unpaid. In such case the provisions of this paragraph may again be availed of thereafter from time to time by the mortgagee. 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or change of ownership 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 secured hereby. ~ 12. That if the murtgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may perferm the same, and all expenditures (including reasunable attorney'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 F immediately and without demand by the mortgagor to the modgagee, and, together with interest and costs accruing thereon, shall be secured by this mortgage. 13. that the mailing of a written notice or demandaddressed to the ownet of record of the mortgaged premises, or directed to the said owner at the last address actually furnished to the mortgagee, or directed to saidowner 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 moctgage and the said note secured hereby are insured under the provisions 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 the mortgaged pcoperty 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 ' ti debt secured hereby immediately due and payable. ; ~ 15. The mortgagot further covenants that should this mortgage and the note secured hereby not be eligible ~ for insurance under the National Housing Act within 60 days fcom the date hereof (written statement a ~ of any officer of the Department of Housing and Urban Development or authorized agent of the Secretary of Hous- ~ ~ ing and Urban Development dated subsequent to thesaid 60 days time from the date of this modgage, ~ ~ declining to insure said note and this mortgage, being deemed conclusive proof of such ineligibility), the mortga- ~ ~ gee or the holder of the note may, at its option. declare all sums secured hereby immediately due and payeble. ; ~ The covenants herein containsd shall bind, and the benefits and advantages shall inure to, the respective ~ heirs, executors, aclministrators, successors, and assigns of the padies hereto. Whenever used, the singular num- ber shall include the plural, the plural the singular, and the use of any gender shall include all genders. ~ ~ ~ ~ ~ a°ooK 181 P~ 2064 ' - ~ ~ _ r~. ~ . ~ ~ 5'~-~ ~~:.t~_ . _ . _y. w-~"-.~~-