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Home My WebLink About0020 5 ~ ~ i a ~ fines, or impositiot~s, for ~~~hich pro~~ision has not bten made hereinbefore, ~tnd in def~uit thereoF the rnart- ~ gagee may pay the same; and that he ~~•ili pron~ptly cieliver th~ otlicial receipts therefor to the rl:orlgagee. f 5. That h~ ~~~ill p~rmit, commit, or suf~er no ~~•aste, impairment, or def.erioration of saici pi•opei•t~~ oe• ~ ayiy part thereof; and in the e~~e~?t of the faiture of the mortgagar to keep tlze buildings on saici pi•en~ises ; and those to be erected on said pr~~mises, oi• impro~~emenis thereon, in good repair, the mortgagee ma~• ; make such repair~s as in its discretion it may deem necessary for the proper preserv~tion thereof, and the i full amount of each and et~ery suct? payment shall be immediately due and pa~~able, and shali l~e secured i by the lien of this mortgage. ~ , 6. That he ~vill pay all and si~tigular the costs, charges, and expen~es, ineluding reaso~~able 1~«•~•er's ' feas, and cost~g of abstracts of litie, I11CGrred or paid at any t:me by the mortgagee becai:se of the failure oii the part of the nioi•tgagoi• promptly and full~~ to perform tlie agreements and co~•eila~its of said pi•oiil- t issory note and t?iis mortgage, a~}ti said co5ts, charge3, and~ expen~es shall ?.~e immediatel~- due and pay- E able and shall be secured by the lien of this rnortgage, y 'T. That he ~ti~ill kee~ the improvements no~+• existing or hereafter erected on the morts[aged ~~i•opei•t~•, ~ insured as may be required from ti~ue to time by the mortgagee against toss by fire and other Ifazards, ~ + Nmn~~n}c at~rl ft~r c~l~~l tlnt'l()!~S 9S itia~' ~C 1'CQill!'E'l~ 11102•tgagee, ' CASUd1Ll@3~ i111U GVTIbu~~c~?~.~c~ iii :~u.,.. ~i~+ and wiil pay pr~mptiy, ~ti~hen due, any premiams on such insurance for pa~~ment of ~rhich pro~•ision has ; ~ not been made here~nbefore. All insurance shall be carried in companies appro~•ed b~~ mortgagee and t tl~e policies and rene~~~als thereof shall be held by mortgagee a~id ha~•e attached thereto loss ~~a~~able ~ clauses in fa~•or of and in forrn acceptable to the mortgagee. In event af loss }ie ~;~ili gire imn~ecliate ~ notice by mail to mortgagee, and mortgagee ma~• make proof of loss if not made promptl~• Uy~ mortgagor, i and each insurance company concei•ned is hereby authorized and directed to make pa~~ment foi• sucli ~ loss directly to mortgagee instead of to mortgagor and mortgagee jointly~, and the insurance proceeds, or ; any part thereof, may be applied by mortgagee at its option eiti~er to the reduction of the inclebtedness hereby secured or to the restoration or repair of the propei•ty damaged. ln e~~ent of foreclosure of tl~is mortgage or other transfer of title to the mortgaged proper~y in extinguishm~nt of the i~iciebted~zess secured hereby, all right, title, and interest of the mortgagor in and to any insuraiice policies the~i ii~ force shall pass to the purchaser or grantee. ~ 8. That the mortgagee ma~~, at an~~ time pending a suit upon this mortgage, appl~~ to the court ha~~- ~ ing jurisdiction thereof for the appointment of A recei~~er, and such court shalt fort}i«•ith appoiiit a ~ receiver of the premises covered hereby ail and si~igular, including all artd singulai• the income, prafits, i issues, and revenues from whatever source derived each and e~~ery~ of ~ti•hich, it being expressly undei•- stood, is hereby mortgaged as if specificall~~ set forth and described in ~he granting and haUendum clauses hereof, and such receiver shall have all the broad and effective functions and po~~•ei•s in ant•«~ise ~ entrusted by a court to a recei~~er, and such appointment shalt he made b~~ such coeirt as an ac?mitted ~ equity and a mattei• of absc~lute right to said mortgagee, and ~+~ithout reference to the adequac~• or inad- ' equacy of the value of the property mortgaged or to the solvency or insol~•ency of said mortgagor or the defendants, and that such rents, profits, income, issues, and revenues shall be applied by such recei~•er ~ according to the liett of this mortgage and the practice of such court. In the e~•ent of any default on the ' part of the mortgagor hereunder, the mortgagor agrees to pa~~ to the mortgagee c~ demand as a reason- ? able monthly rental for the prernises an amount at least eyuivalent to one-t~~•elfth (112) of the aggregate - of the t~velve monthly installmei~ts pa~•able in the th~n current year plus the actual amount of the annual taxes assessments, ~~~ater rates, and insurance premiums for such year not co~•ered by the afoi•esaid mont~ly payments. 9. 'Ch~tt in thE~ e~~ent uf ai~~~ breaeh of ti~is moi•tgage or clc~f.tult uii the part of the mo2•tgago~•, oi• iii the erent that an~• uf said sunis of 111011C~' ~lE'FC'111 ~•eft~i•re~l to Ue~ not promptl~• and f?.ill~• paid ~~~it}z- ~~ut clem~~ncl o~• notice, or ~c•) i» tlie e~-ent that E~ach and e~•er~• the stipulati~?ns, agreements, conditions, ~uul CU~'l'11~111fS O~ SiU({ iurtc~ anc! this niortgage, a~•e ~iot du1~~, ~n•c~mptl~~, ancl full~• performed; then in c~ithE~r ur ~i~~~• .i~ch ~~~~~~ut, th~~ saicl aggregafe sum mrntion~~d in saici ~iotc~ tlu>» i•c~mainir~g uti~~~id, u~ith interest accrueci tc~ that time, and ali mone~~s secui•eci hereb~•, shall becume due and pa~•able forth~~•ith, o~• t}ier~>aft~~l•, at t~i~~ option uf sai~) mortgagee, as fuil~• ~uici complet~~l~• as if all uf the said sums of mone~~ ~~~~~i•e O1'l:lll~l~~~' SLIpl1~~1tE(~ t0 ~)l' paid o~i stich da~•, a»~•tliing in saicl note oi• i» this moi•tgage ta ti~e conh•art~ not~~~ithst~lll(~lll~,'; ancl thc~~•e~upon 4r the~•eafter, at the optian of said mortgagee, ~~•ititout notice or ciemattd, ; suit at la~~- or in eqt+it~•, ma~• b~ prosecuteci as if all moi~c~•s securec! he1•eb~• hacl matur•ed pyior to its insti- tutia~~. Ttie I1101'tgagre> t~~at~ forc~rlose this mortgage, .~s to the amount so d~~clared due and pa~'able, anci ihe~ saicl p~•en~ise~ shall Ur sold to satisf~~ anci pa~• the same together ~~-ith eosts, e~penses, and allo~~~anees. In rase of ~~a~~tial f~n•eclos~u•~~ of this mortg~ige, the 111(Tl'~g~lgt'(I ~ll'C'1I11SE's s12a11 be sold subject to the con- ' tlillllll~ Ilf'll (~t t{11S 11101't~;age for the amount of the iiebt iiot then dtie an~i impaid. In sttch c~~se t}ie pi•o- ~•isio?~s of this pai•a~;raph tzt~it• again be a~•ailecl of th~~relfL('1' f~i'OITI time ~o tinte b}• the mortgagee. 10. Tftat tfie 110i'f~agur a-ill git•c~ ii~u~~ecliate l~otice 1~~• mail to t}i~ morYg~~gee of ~11~' COIl\'l1'311CE', - tr~~i~sfer, or chai~ge of o~~•ners}~ip of the premises. , t 11. That Tl0 ~cai~-er uf an~~ ccn•ei~ant herein or of the ol~]igation secured hereb~~ shall at any~ time t}tereafter• 1~e iielci to I,e a~+'ai~•er of tlie terms iiereof oi• of the nc~te sectu•ed hereb~~. 12. Tt~af; if the mortgagor default in any of the covenants or agreements contained herein, or in - said note, then the mortg~gee may perform the same, and all expenditures (including reasonabte attor- ne~~'s fees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured s hereby, and shall be repa~~able immediately and ~ti•ithout demand b~~ the mortgagor to the mortgagee, and, t together with interest and costs aceruing thereon, shall be secured by this ntortgage. ~ 13. That the mailing of a tvi•itten notice or demand addressed to the o~~iier of record of the mortgaged ~ preniises, or directed to the said o~~~ner at the last address actually furnished t~the mortgagee, or directed = to said o~~~ner at said mortgaged premises, ~nd mailed by tlie United States mails, shait be sufficient notice ~ and demand in any case arising under this insfrument and requi~-ed by the provisions hereof or by law. ~ ~ 14. The mortgagor covei:ants and agrees that so long as this mortgage and the said note secured ~ hereby are insui•ed under the provisions of the National Hoiising Act, he wiU not execute or file for record r any instrument which imposes a restriction upon !he sale or occupancy of tne mortgaged property on the ~ basis of race, color, or creed. Upon an~~ violatioii of this undertaking, the mortgagee may, at its option, ~ declare the unpaid balance of the debt secured hereby immediafely due and payable. ~ ~ r a ~ i aoox 135 ~4 ~ _ ~ ~