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Home My WebLink About0078 fines, or impositions, for ~~~hich pro~~isian h~s not been made hereiiibefoi•e, and in default ti~ei•eof the mort- gagee inay pay the same; and that he e~~ill prornptly deliver ttie ofhci~l receipts therefor to tlie n,oi•tgagee. 5. Tliat lie ~+~ill permit, commit, oi• suffer no ~~~aste~ irripairm~nt, or deterioration of said pi•opert~• or any Y~rt thcreof ; and in the event of the failure of the mortgagor to keep the buildinqs on said prcmises and those to be erected on s1i~-1 premises, or impro~~emenls thereon, in good repair, the mortgagee ma~• mflke such repairs as in its disci•etion it ma~~ deem necessary f~r the proper preservation thereof, a~id the full amour.t of each and e~•ery such pa~~ment shall bc immediately due and pa~•able, and shall be secured by the lien of this mort~age. 6. That he ~~•ill pay all and singular the costs, charges, and espenses, including reasonable 1~~~•~•er's fees, and costs of abstracts of title, incurred or paid at anS~ time by the mortgagee because of the failure on the part of tne murtgagar promptly and fully~ to perform the agrecments and co~•enants of said prom- issory note and this moi•tgage, and sa?d costs, charges, and ex~enses sliall be immediately due and pa~•- - able and shall be secured by the lien of this mortgage. That he «~ill keep the improvements no~~• existing or hereafter erected on thc mortgaged pi•opert~•, insured as mny be required from tin~e to time by the nlortgagee against Icss by~ fire and other hazards, casualties, and contingencies in such amounts and for such periods as ma~~ be required by mortgagee, xnd will pay promptly, ~+~hen due, any premiums an su~h insurance for pa~•ment of ~rhich pro~•ision has not been made hereinLefore. All insurance shall be carried in companies appro~~ed b~~ mortgagee and the policies and rene~vals thereof shall be held b~~ mortgagee and ha~•e attached thereto loss pa~•able clauses in favor of and in forni acceptable to th~ mortgagee. I~i e~~ent of loss he ~~•ill gi~•e immediate notice by mail to mc~rt~a~ee, a»d mort~agee ma~• make proof of loss if not made pi•omptl~• by mortgagoi•, and each insurance company concerned is hereUy authorized and directed to m~ke pz~•ment for such loss directly to mortgagee instea~ of to mortgagor and martgagee jointl~~, and the ins~n•ance proceeds, or any part thereof, may be applied by n~ortgagee at its option either to the reduction of the indeUtedness hereby secured or to the restoration or repair of the property damaged. In e~~ent of foreclosure of this mortgage ar other transfer of title to the niortgaged property in extinguishm~»t of t}ie indebtedness secured hereby~ all right~ title, and interest of the mortgagor in and to any insura~ice policies theii i~i force shall pass to the purchaser or grantee. 8. That the mortgagee ma~~, at an~~ time pending a suit upon this ~~ortgage~ appl~~ to the court ha~~- ing jurisdiction thereof for the ap~ointment ~f a recei~~er, and such court sh~ll forth~ti•ith appoint a recei~~er of the premises covered hereby all aTid singular, including all and singulai• the iiicome, profits, issues, and revenues from ~shatever source derived, each and e~~er~~ of «•hich, it Ueing exgressly undei•- ~ stood, is hereb}~ mortgaged as if specifically set forth and described in th~ gra~iting a~id iisbendum clauses hereof, and such receiver shall have all the broad and effecti~•e functions ancl po«•ers in an~•~s~se entrusted by a court to a recei~~er. and such appointment shall be made bS• such court as an acimitted ' equity and a matter of absolute right to said mortgagee, and ~ti~ithout reference to ti~e 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, inc~me, issues, and revenues shall be applied by such i•ecei~•er , according to the lien of this mortgage a~id the practice of such court. In the e~•ent of any default on tiie part of the mortgagor hereunder, the m~rtgagor agrees to pay to the mortgagee c;~ demand as ~ reason- able monthly rental for the premises an amount at least equivalent to one-t~~•elfth (!1z) of the aggi•egate of the tweh~e monthly instaUments payable in the then current year plus the actual amount of the annual ~ taxes assessments, «•ater rates, and insurance premiums for such year not covered by the aforesaid : mont~ly payments. 9. 'I'h~?t (a) in th~~ e~~rnt of ~lil~' V1'C`~1C~1 Uf~ tI11S I1101't~;age or ~l~~fault un the part of the mortgagor, or ( b) iii the c~~~ent t{~at an~~ of said sums of mone~• he~•ein refc~rre~i to b~~ nut p~•omptl~• and full~~ pai~i ~~~itti- uut (~l'1112ti1(1 oz• nciiic~, oi• (c•) iii the e~•e~~t tiiat ~~acli and e~•er~• the stipulations, agreeme?its, conditio~is, FiIiii coti~~~i~~<<ts of s~~icl »~~t~~ a~icl this inurtgagr, .i?•e ~u?t dui~•, l~r<~~npti~•, ~u~cl full~• ~~ri•fai•n~ed; tlien i~i ~~ith~~r oi• ~u~~• such c~~ei~t, the saicl ~i~;gr~gate sum m~~~~tioned in sai~l i~~~te th~~n 1'~111~11111I1$' unpzid, ~~•ith inter~~st arcrucd t~~ that tinu~, and al! mone~~s sec•tn•ed hc~~•~~by, shall t~ecome due and pa~~able forth~~•ith, . u?• the~re~iCter, ~t lhe option uf saicl mortgagee, ~~s full~• and complet~~~~' ~iS IL F1~I Of tllC' Sfil(~ SU111S Uf 111011('~' . ~~-ri•e urginalh• stipulatecl to be paici on sueh cia~•, an~•thiiig iii saicl nute oi• i~~ ttlis mortgage to the eouti•ai•~• ~iot~~•ithst~3ncli~ig; 2111(1 tllt'TCII])Oll O1' t{1C'1'~'i1ftC'1', at the optio~l uf said mo?•tga~;~e, ~\'ItjlOllt IIOtICf' OT (IeITiAll(I, sttit at la~~• or in equit~•, ma~- ~e prosecutc~cl as if ali mc~ite~-s secur~~d herc~b~- had matured prior to its insti- ; tution. The ntortgabrE~ n~a~• foreclc~se this mortgage, .is to the amoimt so cleelarecl due anci pa~~able, and . th~ said pi•emises sf~ali be~ sold to satisf~• a»ct pa~• the same togethc~r ~~~ith costs, e~penses, and alio«•ances. ' I~i rase of partial furcrlosiu•t~ of this mortg~ige, the m~rtgagecl premi~es shall b~~ sold subject to the con- tinuing lirn of this mortgag~• COl' tllE' amotu~t of the ciebt not the» duE~ ancl unpaid. Iu s~~ch case the pro- I; ~•isio~is of this paragraph ma~- again be a~•ailecl of thc~~•eafter from timc~ to time b~• the n~ortgagee. 10. 'I'liat the mortg<igu~• ~~~ill gi~•e immecliate »otice b~~ mail to th~~ mortga~ee c~f a~l~• ron~•e~~ance, t?•ansfe~•, or r•hange of o~~~nei•siiip c>f ti~e ~n~en~ises. 11. That no ~~•ai~~ei~ of an~~ c~~~•ena~lt herein c~~• of the obligation secui•eci hei•eb}~ shall at an~~ time " the?•eaftei• be held to I~e a~~~ai~•er of the tern~s iiereof oi• of the note secui•ed iiei•ebti~. { lZ. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may ~erform the same, and all eYpenditures (including reasonable attor- ne~•'s fees) made b~• the moi•tgagee in so doing shall dt•a~c interest at tlie rate set forth in the note secured ? hereby, and shall be repa~~able immediatel~• and «•ithout deniand by the mortgagor to the mortgagee, and, ~ togetl~er with interest and costs aceruing thereon, shall be secured by this mortgage. ~ i 13. That the mailing of a~i•ritten notice or dema~id addressed to the ow~ner of record of the rr~ortgaged t premises, or dii•ected to the said o~vnei• at the last address actu~lly furnished to the mortgagee, or directed ' to said o~sner 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 b3~ the pro~~isions hereof or by iaw. f 14. The mortgagor co~~enants and agrees that so long ~.s this mortgage and the said note secured ~ herebS• are insured under the provisions of the National Housing Act, he ~ti•ill not execute or file for record ; an~• instrument which imposes a restriction upon the sale or occupancy of tne mortgaged p;•operty on the ? basis of i•ace, color, or creed. Upon any violation of this undertaking, the moi•tgagee tnay, at its option, i declare the unpaid balance of the debt secured hereUy immediately due and payaUle. ; ~ ! ~ ~ ~ BooK ~ 5 ~ ~ 3 _