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Home My WebLink About2207 ~ , ' tr~ i ~ ~ i fines, or impositions, for ~rliich pro~~ision lias not beei~ made ttei•einbefoi•e, ~tnd iri def~tult t}iereof the mort- ~ gagee may pay the same; and that he ~ti~ill promptly deliver the oflicial i•eceipts titerefor to tiie mortgagee, ~ 5. Tliat ?ie ~vill permit, commit, or sut~er no ~ti•aste, impairment, or deterioratio~~ of said pi•opei•t~• oi• I any part thereof ; and iri t~ie et~ent of tlie failure af the mortgagor to keep tlie Uuildings on said premises j and those to be erected on said premises, or improvements thereon, in good repair, the mortgagee may ~ make such repairs ~ in its discretion it may deem necessary for the proper preservation thereof, and the ~ full amotmt of each and e~~ery such pay~~tent sh~lt b~ immediately due and pay~able, aiid shzll be secured by `he lien of this mortgage, ~ 6. That he will p~y all a~d singulRr the costs, charges, and expenses, includi?tg reasonable la~ti•~~er's I fees, and costs of abstracts of title, inct2rred or paid at a~~y time by the mortgagee because of the failiu•e ~ on the part o~ the moi•tgagoi• pi•omptly and fully to perform the agreemeitts and co~~enants of said pi•oni- ; issory note and this mortgage, aiid sa~d costs, charges, and expenses sliall be immediatel~• due a~id pa~•- ~ able and siiall be secured by the lien of this mortgage. ; 7. That he ~ti•ill keep fhe impro~~ements no~~~ existing or hereafter erected on the mui•tgaged propert~•, ~ insured as may be required from time to time by tlie mortgagee against toss bS• fire and otlier hazards, ; casuatties, and contingeneies in such amounts and fot• se~ch periods as ma~~ be ; equii•ed by mortgagee, ~ and will pay promptly~ when due, any premiums on such insurance for pa~•ment of «•hich pro~•ision has - not been made hereinbefore. All insurance shall be carried in compan?es appro~~ed by mortgagee and ~ the policies and rene«•als thereof shall be held by mortgagee and have attached thereto toss pa~•able clauses in favor of and in form acceptabte to the mortgagee. In e~~ent of loss he ~rill gi~•e imme~iiate ; notice by mail to mortgagee, and mortgagee n~ay make proof of loss if not made p?•omptly Uy mortgagoi•, ~ and each insurance company concerned is hereby authorized and directed to make pa~•ment for such loss directly to mortgagee instead of to mortgagor and moi•tgagee jointt~~, and tl~e insui•ance pi•aceeds, oi• ~ any part thereof, may be appliecl by mortgagee at its option either to the reduction ~f the indebtedness ~ hereby secured or to the restoration ~r i•epair of the property damaged. In e~~ent of fareclustti•e of this ~ mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness ~ secured 1?ereby, all right, title, and interest of tlie mortgagor in and to any insui•aace policies theii in force ~ s}iall pass to the purchaser or grantee. S. That the mortgagee may, at an~~ time pending a suit upon this mortgage, appiS• io ine couri i~a~~- - ing jurisdiction thereof for the appointment of a receiver, and such court, shall forth~sith appoint a receiver of the premises co~•ered hereby all and singular, including all and singular the income, profits, ~ issues, and revenues from whatever source derived, each and ever~~ of ~ti~hich, it being expressly under- stood, is hereby mortgaged as if specifically set forth and described in the granting and i~abendum clauses i hereof, and such receiver shall have all the broad and effective functions and po~~~ers in an~•~ti•ise ~ entrusted by a court to a recei~~er, and sucli appointment shall be made by such court as an admitted equity and a matter of absolute right to said mortgagee, and ~4~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~•e2• according to the iien of this mortgage and the practice of such court. In the eti~ent of any default on the i part of the mortgagor hei•eunder, the mortgagor agrees to pay to the mortgagee c;l demand as a reason- ~ able monthly rental for the premises an amount at least equivalent to one-t~~•elfth (!12) of the agga•egate ~ of the tw~elve monthly installmeiits pa~~able in the then current year pius the actuai amount of the annual ~ taxes assessments, «~ater rates, and insurance premiums for sach year nat covered b~• the aforesaid i mont~ly payments. a 9. That ) in the c~c~>»t of ~uir !~i•~~~~ch ~>f this moi•tgage or cl~~fat?It cu~ the ~)Qll't Of t~ll' I1101•tgagor, oi• ; ( l,) ii~ the e~•ent th:lt 1liJ' OI~ Sill(~ Stllll~ Of IllOlll?1' {iC'i•~~in referred to be not promptl~• and fuli~• paid ~~~ith- ; ~?ut cleman~l or »otic~~, or (c~) i» thE~ e~•ent that eaeh and e~~e~•~• the stipulations, agreemc~nts, conditions, vui CO\'c'Ililll~S Ol~ 5211(I not~~ anci this mortgage, are not ciui~•, ~~rumptl~•, aird ful1~• ~~erfoi•med ; t~ien ii~ ~ citi~Er ur ~tn~' ~url~ ~~~•c~nt, tl~c~ saici a~;grc>g.ite sttm mrntionecl in s~~icl note then rrmaining u»paid, ~~~ith : itlte2•est accrued t~~ tl~<~t tim~~, an{i a11 n~one~'S SECUl'e(~ ~ll'CC~JJ~, shall ~ecome clue and pa~~aUle foi•th~~•itli, c>i• ther~~af'ter, at thc~ uption ~~f S~U(~ 11101't$~3gCE', 1S fU~I~' ~lll(I COIIl])ICtel~~ as if all uf the said sttms of mo~iet• # ~~~ere c~i•gi~iall~- stipulated to ~e paicl on sucli da~~, an~•thing i~i saicl note oi• in this moi•tgage to the caiiti•a?~~~ ~ not~~-ithstandii~g; and ti~ereupon or thei•eaftet•, at the optioii of said moi•tgagee, ~~•ithoe~t notice or demand, i stiit at la~~• or in ~~qttit~•, mr~~' be p~•osecuterl as if all mone~•s secured hereb~• had n~ature<i prior to its insti- ; tution. The mortg~gc~c ma}- foreclc~se this mortgagc~, as to the amoimt so deelared dtte anci pa~~able, and ~ the said p~•etnise~ sha11 be solci to satisf~• and pa~• the samc~ together ~~•ith costs, expenses, and ailo~t~ances. ` In case ot~ partial t'cn•eclosu~•e of ti~is mortgage, the mortgagecl I~remises st~all bc~ solc~ siibject to the con- ; fl11i1111Q; ~!E'll Of~ tlilS ti101•tgag~> for• tlze aniotint of tlle ~lebt ne~t then due an~l unpaici. l~i such case the pro- i ~~;sio,~s of this ~~ar.~~rapL ma~~ again be a~•aileci of thc~•eafter from time to time b~• tiie moi•tgagee. 10. 'I'hat the II101'tgag~~r ~~•ill gi~•e imtnediate notice b~- mail to tiie mo~•tgagee o~ an~• coii~•e~~aitce, : ir~u~sfer, or change of o~~-nership of the premises. ~ 11. Tliat Iio +ti~ait•e~• uf an~~ co~•enant iiecei~i or of ti~e ol~ligation secu?•ecl hereUti~ shail at an~~ time there~iftei• be i~eld to l~e a~+~ai~~er of tiie terms hei•eof oi• of tiie note secured liei•el~~•. # ` 12. That if the mortgagor defatilt in any of the covenants or agreements contained herein, or in ; t said note, then the mortgagee may ~erform the ~~me, and all expenditures (including reasonable attor- s ne~~`s fees) made by the mortgagee in so doing shall dra~v interest at tlze rate set forth in the note secured ~ i hereby, and shall be repa~•a~ile immediately and ~cithout demand by the mortgagor to the mortgagee, and, ~ together with interest and costs accruing thereon, shall be secured by this mortgage. ' ~ 13. That the mailing of a wi•itten notice or demand addressed to the owner 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~~~ner at said moi•tgaged premises, and mailed by the United States mails, shalt be sufficient notice ~ and demand in any case zrising under this instrument and required by the provisions hereof or by law. i 14. The mortgagor co~~enants and agrees that so long as this mortgage and the said note secured ~ hereby are irisured under the provisions of the National Housing Act, he will not execute or file for record i any instrument ~vhicii imposes a restriction upon the sale or occupancy of tne mortgaged pi•operty on the ~ ~ basis of i•ace, coloi•, or creed, Upon any violation of this undertaking, the mortgagee may, at its option, ~ ~ declare the unpaid balance of the debt secured hereby imnjediately due and payable. ~ ~ e j ~ - ~ ~ ~ gooK 1~~ , 4~1 ~ ~ , ~ ;