The URL can be used to link to this page

Home My WebLink About1817 s •s fines, or impositions, for ~~~hich pro~~ision has not been made hereinbefore, and in default thereof t}ie mort- ~ gagee may pay the sarne; ~iid tiiat he ~~•ill pron~ptly deli~~er the oflicial receipts tlierefoi• to the it:ortgagee. ; 5. That he ~vill permit, commit~ or suf~er ~io ~ti~aste, impairment, or deterioration of said pi•opert~• oi• ~ any part thereof ; and in the e~~ent of the failure of the mortgagor to keep the buildings on said premises ~ and those to be erected on said premises, or improveme?its t}iereon, in good repair, the moi•tgagce ma~• make such repairs as in its discretion it m~y cieem necessary for the proper preservation thereof, and the ~ full amount of each ~~id erery such payment shall be immediatel~~ due ~nd pay~able, and shall be sect~rec~ by the lie~i of this mortgage. ~ 6. That he ~~~ill pa~~ all a~id singular the costs, charges, and expenses, including reasoi~able 1a~~•~~ei•'s ~ feea, and costs of abstracts of title, incurred or paid at any time by the mortgagee because of the failw•e ~ on the part of the mortgagor promptly and fully to perform the agreements and co~•enants of said prom- ~ issory note and this mortgage, and said costs, charges, and expenses shall be immediately due and pa~•- ~ able and shall be secured by the lien of this mortgage. ; ~ 7. That he ~vill keep the in~provements no~~• existing or hereafter erected u~i the moi•tgaged pi•opei•t~•, ~ insured as may be required from time to time by the mortgagee against loss b~• tire and othei• hazards, ~ casualties, and contingencies in such amounts and fot• such periods as may be requii•ed b~• moi•tgagee, ~ and will pay promptly, ~ti~hen due, any premiums on such insurance for pa~•ment of \1'I11C~1 pro~•ision has not been made hereinbefore. All insurance shall be carried in companies appro~•ed by mortgagce and ~ the policies and rene~ti~als thereof shall be held by mortgagee and ha~~e atta~hed theretu loss pa~~able clauses in favor of and in form acceptable to the mortgagee. In event of loss he ~+•ill gi~•e immediate i notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptl~~ by moi•tgagor, ~ and each insurance company concer»ed is hereby authorized and directed to make pa~~ment for sucli ~ loss directly to mortgagee instead of to mortgagor and mortgagee jointl~~, and the insurance proceeds, or ~ any part thereof, may be applied by mortgagee at its option either to the reduction of the indebteclness ~ hereby secured or to the restoration or repair of the property damaged. In e~•ent of foreclosure of this ~ mortgage or other transfer of title to the mortgaged property in extinguishme»t of the inc~ebtedness ' secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in force shail pass to the purchaser or grantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, appl~• to the court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forth~~~ith appoint a receiver of the premises co~~ered hereby all and singular, including all and singular the ittcome, profits, issues, and revenues from ~~•hatever source derived, each and e~~ery of ~shich, it being expressly under- stood, is hereby mortgaged as if specifically set forth and described in the granting and haUendum clauses hereof, and such receiver shall have all the broad and effective functions anci po«•ers in an~•«•ise entrusted by a court to n receiver, and such appointm2nt shall be made b~• such coi~rt as an acimitteci equity and a matter of absolute right to said mortgagee, and without reference ta the adequac~• or inad- equacy of the value of the property mortgaged or to the solvency or insolvenca• of said mortgagoi• oi• the defendants, and that such rents, profits, income, issues, and revenues shall be applied by such i•ecei~•er according to the lien of this mortgage and the practice of such court. In the e~•ent of any ciefault on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee cn demand as a i•eason- able monthly rental for the premises an amount at least equivaient to one-t«~elfth of the aggregate ~ of the twelve monthly installments pa~•able in the then current year plus the actual amount of the annual taxes assessments, ~vater rates, and insurance premiums for such year not co~~ered by the aforesaid ' mont~ly payments. 9. That (u) i~i the e~•ent c~f an~• bi•each of t}lis ~nurtgage or ~iefault cn~ ihe pal•t of the moi-tgagoi•, o~• ( b) in the e~•eiit that ~t»~• uf said sums of mone~• hey•cin referred to Ue not prc~mptl~• and full~• ~~aici ~~-ith- c~ut clemaucl or notic~~, or (c) in the ~~~~ent that earh and e~•er~• the stipulations, ag~•eements, co~uiitions, aiici co~~ti~~lnt~ of said note a~ul this mortgage, are not dul~•, I~ruiuptl~•, ancl full~• performed; the~i in ~~ith~~r u~• ~u~~• ~uch ~~~~~~nt, th~ saict aggrcgate stun m~~ntioned in s~ti~l n~~tc th~~n r~~maini~ig u~~paid, ~~•itti inter~~st aec~•ued to that time. illl(I R~I i11011E'\'S SECUFE(I }1(1'C'Uy, shali I~eeome ctue and pa~~able fot•th~~•ith, ur tlierEal~te~•, at th~ option ut~ said moi•tgagee, as futlt• ~uid complet~~l~- as ii' all of tlie said sums of mo~ie~• 'j ~rri•e ol•ginall~• stipt~lated to be paicl o~i such dat~, al~~-thing in saicl nute or i» ti~is mortgage to the co~iti•ai~~- not~~~ithstancling; and th~~r~~upun or thereafter, at the option uf said mortgagee~ ~~~ithout notice or ciemand, ~ suit at la~~• or in equit~~, ~rri~• l~e pi•osecutecl as if all mo~ie~•s secured hei•eb~• had niatui•ed prioi• to its insti- tution. The mortgagee ma~~ fo~•eclose this mortgage, ~is tu the amount so declared due and pa~•able, and { the saicl pi•emises shall be solc( to satisf~• a»d pa~• the same togethcr «-ith costs, e~penses, and allo~~~ances. j In case of partial f~,rerlosur~ of this mortg<<ge, the »l01'tK~lg((I ))1'~'1111SE'S SIIAII Vi' solcl subject~to the con- ~I11tUllg ~IC'll OC tIIIS 11101'tgabe for the amou»t of the cieUt »ot the» clue ancl impaid. In sueh case the pro- ~•isions of this paragraph ma}• again be a~•ailed of thereafter from time to time b~• the mortgagee. 10. Ti}at the i1i01'tgag~n• ~~~ill gi~•e immediate notice b~• mail lo th~~ murtgagee of an~' COII\'E'~~ance, 1~•ansfer, or change of o~~•nership c~f the premises. 11. That no n•ai~•er of an~~ co~•en~?nt he~•ein or of the ol~li~ation sectn•ecl hereby shall at any time tlie~•eaftei• be }ield to be a~~~ai~•ei• of the tei•ms iiei•eof oi• of the nute ~ecui•ed liei•eb~•. 12. Tt~at if the mortgagor default in any of the covenants or agreements contained 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 repaS~able immediately and «~ithout demand by the mortgagor to the mortgagee, anti, ; together with interest and costs accruing thereon, shall be secured by this mortgage. ~ 13. That the mailing of a~ti~ritten notice or demand addressed to the o«~ner of record of the mortgaged ~ premises, or directed to the said owner at the last address actually furnished to the mortgagee, or directed ~ to said o~sner at said mortg~iged premises, and maileci b3~ the United States rnails, shall be suft'icient notice ~ and demand in any case arising under this instrument and required by the provisions hereof or by law. ~ 14. The mortgagor co~~enants and agi•ees that so long as this mortgage and the said note secured _ hereby are insured under the provisions of the IVational Housing Act, he ~4~i11 not execute or file for record ~ any instrum~nt ~vhiel~ -j~1~Qse •.~-r.estriction. 11 thQ saLe o.r occupapcx pf toe mortgaged property on the ~ basis of race, color, or creea' ~pon any viola ~ot~'`of thi~ undertaking, Eh~ rr~ibrtgage~ ~~ay, at its option, ~ declare the unpaid balance of tne debt secured hereby immediately due and payable. ~ - . L . . ~ i y 3 ~ 5 ~ ~ f ~ BooK 138 s . ~ ; ~ ~ .a