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Home My WebLink About0162 ~ ~ . fines, or impositions, for which provision has not been made tiereinbefore, and in default thereof tlie mort- gagee mAy pay the same; and that he will promptly deliver the ofCicial rec;eipts therefor to the mortgagee. ~i. That he will permit, commit, or suffer no waste, impairment, or deterioration of said prapert~~ or w~; p~rt thLr~f; ~n ±?7e pvent ~f the failure of the mort~agar to keep the buildings on said premise~ and tiiose to be erected on said prPmises; or improvemenfs thereon, in good repair~ the mortgagee may make such repairs as in its discretion it may deem necessary for the proper preservation thereof, and the full amount of each and every such payment shall be immediately due and payable, and shall be secured by the lien of this mortgage. 6. That he will pay all and singular the casts~ charges, and expenses, including reasonaUle la~~•yer's fees, and costs of abstracts of title~ incurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly and fulty to perform the agreements and covenants of said prom- issory note and this mortgage~ and said costs~ charges, and expenses shall be immediately due and pay sble and shAll be secured by the lien of this mortga~e. 7. That he will keep the improvements now existing or hereafter erected an the moi•tgaged property, inAUred as may be required froni time to time by the mortgagee against loss by fire and other hazards, CA.SU8~t1@8, AA(~ COritlllg@riCIQ$ lIl SIiCI'1 ~?IIOllIItB AilCt TOT 3UC(t ~~rtutis ~ iiiay uC; ii:i~iilicii u;~ iTii;:igus~::~ and will pay promptly~ when due~ any premiums on such insurance for payment of «~hich prot•ision lias not been made hereinbefore. All insurance sha11 be carried in companies appro~•ed by mortgagee and the policies and renewals thereof shaDl be held by mortgagee and have attached thereto loss payable clauses in favor of and in form acceptable to the mortgagee, In event of loss he ~vil[ give immediate notice by mail to mortgagee~ and mortgagee may make proof of loss if not made ~:~romptly by moi•tgagoi•~ an~ each insurance company coi,;erned is hereby authorized and directed to make payment for such 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 eitiier to the reduction of the indebteciness hereby securecl or to the restoration or repair of the property damaged, In event of foreclosui•e of this mortgage or other tranafer of titte to the mortgaged property in extinguishment of the indPbtedness secured hereby, ail right, title, and interest of the mortgagor in and to any insurance pulicies then in force shail pass to the purchaser or grantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, apply to the court hav- ing jurisdiction thereof for the appointment of a receiver~ and such court shall fo?•th~vith appoint a receiver of the premises c~verE~i hereby all and singular, inc{udir.g all and singular the income, profits, issues, and revenues from whatever source de~ived, each and every of which, it being expressly undei•- 3tOOlj, is hereby mortgage~ as it specincaiiy seL iorin ana uescrii?e~i iii i.~ic wr~i~~~~ aiiu ~W~~ : ~~.^:w~~~ - hereof, an~ such receiver shall have all the broad and effective functions and pc,wers in an~~~cise entrusted by a court to a receiver, and such appointment ahall be made by such court as an admitted equity and a matter of absolute right to said 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 defendants, and that such rents, profits, income, issues, and revenues shall be applied by such recei~•er according to-the lien of this mortgage and the practice of such court. In the event of any default on the part of the martgagor hereunder~ the mortgagor agrees to pay to the mortgagee on demand as a reason- abte monthly rental for the premises an amount at least equivalenL to one-t~velfth ( i i 2) of the aggregate of the twelve monthly installments payable in the then current year p?us the actual amount of the annual taxes assessments, water rates, and insurance premiums for such year not covered by the aforesaid mont~ly payments. 9. That (a) in the e~•ent of an~~ breach of this mortgage or ~lefault on the parf, of the mortgagor, or (L) in the event that aiiy of said sums of mouec• lierein i•efei•i•ed to be ~iot pi•omptly and f«lly paic~ ~~~ith- - out demand or notice, or (c) in thc.> e~•ent that each and eti•er~• the stipulations, agreements, conditions, ~~nd co~•enants of said note and this n~oi•tgage, ai•e ~iot du1y, pi•oinptl~~, a»d fu!!~- pei•formed ; then i~i eithei• or au~~ sucli e~•ent, lhe said aggreg~te sum meutioiied iii saicl »ote theu retnaining unpaid, ~~~ith i~iterest acci•ued to that tiine~ a~id all mo~ie~~s secui•eci hei•eby, shall beconte clue and payable forth«•ith, oi• tliereaftei•, at tlie optio~i of said nioi•tgagee, as ful1~• ~?~id completely as if all of the saici sums of mo~ie~~ ~~•ei•e o~•ginally stipulated to be paid on such day, an~~tizing i~i saici note or in tliis moi•tgage to the conti•ai•~~ not~~•ithstanding; and thcreupon or thereafter, at the option of said mortgagee, ~~•ithout notice or demand, suit at la«• or in equit~~, may be prosecuted as if all mone~~s secured hereb~~ had matured prior to its insti- ttttion. The mortgagee may foreclose this mortgage, as to tlte amoi~nt so declai•ed due and payable, and the saicl premises shal! be solcl to s~tisfy and pa~• the same together ~~•ith costs, e~renses, and allo~ti•ances. In case of partial foreciosure of this mortgage, the mortgaged premises shail be sold subject to the con- tinuing lien of this mortgage for the amount of the clebt not thet~ due anci unpaid. In such case the pro- ~•isions of this pai•agi•ap}i may again be a~~ailed of tl~ereaftei• fi•om time to time b~~ the mo~•tgagee. 10. That the moi•tgagoi• ~~•ill give immediate notice mail to the moi•tgagee of a~~y con~•eyance~ li•ansfer, oi• change of o~~•nei•ship of the pt•emises. 11. That no waiver of any covenant herein or of the obligation securecl hereby shall at any time tliereaftei• be held to be a~4•aivet• of th~ terms he~•eof oi• of the note secured herebv. 12. That if the mortgagor default in any of the covenants ox agreements cantained 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 ta the mor~gagee, and, together with interest and costs accruing thereon, shall 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 nt 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 attd agrees that so long as this mortgage and the said note secured hereby are insureci 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 tne mortgaged property on the basis of i•ace, color, or creed. Upon any violation of this undertaking, the mortgagee may, at its option, declare the Unpaid balance of the debt secured hereby immediately due and payable. ~ $oQ~137 . 16~