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Home My WebLink About2256 . .1,~; fines, or impositions, for ~~•hich pro~•ision has not ix~en made hereinbefore, ~tnd in def~ult thereof th~~ mort- gagee may pay the sanie; and that he ~~•ill prornptly deli~~er the afticial i•eceipts tlierefoi• to tiie ii:ui•tgagee. 5. That he ~ti~ill permit, commit, or sufTer no waste, impairment, or deterioration of said propert~• or any pnrt thereof ; and in the e~~ent of the failure of the mortg~gor to keep the buildings on said premises }{~nec~ fn }~p nrnrtn~ (~t~ c~i~~ 1~7'F?1111SE?S, nr imnr~~'CIl1C'IltS t~lE?I'E~OTI, 111 SY00[i I'E'pFilI', «1C 111Q1't~R~,l'C lllil~' make such~repairs as in its discretion it ma~• deem necessary for the proper preservation thereof, and the full amount of each and e~~er~~ such payment shall be immediately due ancl pay~able, ~nd shall be secured by tlie lien of this mortgage. . 6. Tlsat he ~~~ill pay all arid singular the costs, C}l~ll•ges, and e~penses, including reaso~iable la~~•~~ei•'s fees, and costs of abstr~cts of title, incurred or paid at any time by tlie mortgagee because of the fnilure on the part of the mortgagor promptlt~ and full~~ to perform the agreemeiits and co~•ena~its of said prom- issory note and this mortg~tge, aizd ~~id casts, ct~arges, ~nd exp~t~ses s1i~11 ue immecliately dt~e and pa~•- able and shall be secured by the lien of this mortgage. '~~at. ~e e!•s!1 keQ~~ the i~1~~ro~~e~i~ente n~~~• existln~ or hereafter erected on the mortgaged propert~•, insured as may be required from time to time by the mortgagce against loss b~~ fire an~-i other haz~rds, ~ ~A~~~n~t~pQ. ~n~ rnnting~nciPC in ~uch am~~unts and for such pCl'10(jS as ma~~ be rec~uired bs~ mortgagee, and will pay promptly, ~ti~hen due, any premiums on such insurance for pa~~ment of ~~•hich pro~•ision has not bee~i made hereinbefore. All insurance shall be carried in compaiiies appi•o~•ed b~• moi•tgagce and the policies and rene~~•als thereof shall be held by mortgagee and ha~•e attached thei•eto loss pa~•able clauses in favor of and in form acceptable to the m~rtgagee. In e~~ent of toss he n•ill gi~•e inimediate notice by mail to mortgagee, and mortgagee ma~• make proof of loss if not made promptl~• by mortgagor, and each insurance compan~~ concerned is hereby authorized and directed to make pa~~ment fo~• such loss directly to mortgagee instead of to mortgagor and mortgagee jointly, ai~d the insurance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the prapert~~ damaged. In e~•ent of foreclosiu•e of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to an~~ ins~u•ance policies then in force shall pass to the purchaser or grantee. 8. That the mortgagee may, at an~~ tin~e pending a suit upon this mortgage, appl~~ to the court ha~~- ing jurisdiction thereof for the appointment of a receiver, and s~~cii court shall forth«•ith appoii~t a recei~•er of the premises co~•ered hereby all and singular, including all and sii~gi~lai• tiie income, pi•ofits, issues, and revenues from ~;~hate~•er source derived, each and e~~ery of ~~•liich, it bei~ig e~pressly~ undei•- stood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effecti~~e functions and po«•ers in ant•~i•ise entrusted by a court to a receiver, and such appointment shall be made by such court as an admitted equit~• anci a matter of absolute right to said mortgagee, and «•ithout reference to the aclequac}• or inad- equacy of the value of the property mortgaged or to the solvencS~ or insol~•enc~' of said mortgagoi• oi• tiie defendants, and that such rents, profits~ income, issues, and revenues shall be applied by such i•eceirer according to the lien of this mort~age and the practice of such court. In the e~~ent uf an~~ default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the moi•tgagee c:t ciemand as a reason- able monthly rental•for the premises an an~ount at least equivalent to one-hselfth (!i..) of the aggregate of the t~ti•elve monthl~• installments pa~•able in the t~en current year plus the actual amount of the annual ~ taxes assessments, «•ater rates, and insurance premiums for such year not co~~ered b~~ the afoi•esaid mont~l}~ payments. That ii~ the e~~rnt uf an~~ l~r~~ach uf ihis mort~;age or ~l~~l'<<ult un tl~e part of tf~e mortgagor, or ~ l~) iii the e~•e~it t}~;it <in~~ ~~I' s~iid sums of moiie~~ hc~i•~~in i•efe~•re~d to be not ~~rr~mptl~- aiid it~ll~~ paid «-itli- _ ~~ut d~~mancl ~n• nc~tice, or (c•) in the e~•ent that each and e~•et•~• the stipulati~,ns, agreements, conditions, ; vul c~~~~env~ts of saicl notE~ xn~l this mortg~ige, are ~wt clul~•, ~~rumptl~~, and full~• performed ; then in l'I~~ll'1' U1' illl~' SUl'~1 l'\'l'llf, i~lt' SFlll~ 2i~;~1't'~;litl''Slllll Ilit'11~1U11C'(1 ill Silll~ lll)tC t~il'll 1'Clllilllllllg llll}):il(~, ~~'lt~l interest areruc~d t~? tiiat time, ancl all mune~'s sertu•eci h~~reU~•, shall ~ecome clue and pa~•able forth~~•ith, ur thez~e<<tter, at thc~ Oj)t1011 Ul` 5211(~ 11101't~;Sgl'(', <1S PIIUC Fltl(j COIllp~ltE~l~• as if all of the said sums of mone~• j ~~-~~?•e orginall~• sti~iulated to Ue paid on such cl~t~~, aii~•tl~ing i~i saicl note or i~i this moi•tgage to the conti•ar~• IlOL\~'?~~1Sti111(Illlg; aiirl ther~~upou o~• thereafter, at the optio» of sai~i mortgagee, ~~•ithout notiee or demand, suit at la~~• or in equit~-, ma~- be I~rosecutecl as if all monc~~'s seet~red herebt' hacl I113t111'~(~ ~)1'101• to its insti- ~ ttition. The moi•tgage~~ ma~• forerlose this mortgag~, ~is to tlie amoiu~t so declarecl due anci pay~Ule, an~l th~~ saicl premisc~s shall be~ solcl to satisf~• a~id pa~• the same to~ether ~~-itti costs, exl~e~lses, aiid allo~?•ances. In case of partial fureclosure of this mortgage, the mortgagecl premises shall Uc~ sold subject to the :.on- tilllllllg ~It'll Of fIIIS 11]OI'f~age for the amow~t c~f the ~lebt not tl~c~» ciue an~l unpaici. ln such case the pro- ~•isions of this ~ara r~ ~h ma~• a ai» be a~-ailecl of tliereaft~~r from time to time b~- the mort a ee. . ~ g 1 ~ ! . K ; - 10. 'Tl~at the mcn•tg<~g~~!• ~~-ill gi~•e i~nmeciiate notice b~• mail to the~ mortga~ee of a~i~• con~~e~~aiice, i - ir~insfer, or change c?t~ ~i~~~nership of the premises. ~ f 11. That no ~~'ai~•er of an~• cu~•enant herein <n• of the ol~ligRtion secured hei•el~~~ shall at an~• time tl~ereafter be helcl to I~e a~ti~ai~•er of the terms hereof or of the note secured hereb~~. t 12. Tllat if the mortgagor default in any of the covenants or agreements contained herein, or in F - said note, tlien tiie mortgagee may perfoi•m the same, and all espenditures (including reasonable attor- ne~~'s fees) made by~ the mortgagee in so doing shall di•aw interest at the rate set forth in the note secured hereby, and shall be repa~~able immediately and «~ithout demand by the mortgagor to the mor±gagee, and, { ; together v:ith interest and costs accruing tliereon, sl~all be secured by this mortgage. ; ? 13. That the mailing of a«•ritten notice or demand addressed to the o~4~ner of record of the mortgaged 3 i premises, or directed to the said o«'ner at the last address ~ctually furnished to the mortgagee, or directed ~ ; to said o~cnei• at said mortgnged premises, and mailed Uy tlie United States mails, shall be sufficient notice + and dem~tnd in any case arising under this instrument and required by the provisions hereof or by law. ~ 14. The moi-tgagor co~~enants and agrees that so long as this mortgage and the said note secured i hereUy are insured under the pro~~isions of the i~'ational Iiousing Act, he will not execute or file for record ; any instrument «•hich impuses a res*riction upon the sale or occupancy of tne m~rtgaged property on the ; basis of race, color, or creed. Upon any violation of this undertaking, the mortgagee may, at its option, ~ declare the un~~aid balance of the debt secured liereby immediately due and paS~aUle. E f a ~ t ; ; i ; t i F E g~oK13~ . 4~U = ; ; ; ~