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Home My WebLink About2505 . .w~r~„q~4~• . r ;.~.z~;lZ y.-a~ •.ra~r .s~.. •.a- * Y~i - w-_. . .araA . ~r~~~. - . ' _ r l 0 : , . e _ ~ ~ i : ~ ,r ~ !lna~, or impaiiioeu. for Mrhich provislon lui not~el~a? made inbetor~e, aad ia default ther~eoi the mor~ ~a~se m~y p~7r the same; and t1?at he will prompW? deliver the ~3cia1 receip4 therefor to the mortsaree. 6. Tl~a~ h~ `wiU paeiait, oanmit~ or suRer no ~?aste. i~npairmeat, or deterioration o! said property, or , any part tliereoi; and in the event oi the iailure of the mort~a~or ta keep the buildin~s on ssin prenuaea I. and tho~e to be el~cted on a?id pnmise~. or improvemen4 thezcon. in ~ood repnir. the mort~ee may 4 make such repnin as in iL diicretion it m~,y deem neaewry ior the p~oper pr~ervxtion thereof, and the ~ fuU unount of each ~nd every such ptyment shall be immedis?tely due ~nd payable, and shall be secured + by the lien of thia mort~x~e. ~ 6. That he w?ill pay all and, sin~ular the costa. char~es. aad expcnaes, includin reaeonable lawyer's ~ ~ tees. and ooata of s?bstracts oi t~tle. incurred or psid at s~ny time by the mortgaa^ee~suse of the failure ! on the part oi the mort~or prnmptl~• snd fully to pertorm the agreementa and covenants of aaid prom- ~ i~sory note ~nd this rnort~~~ xnd siud co~sts~ chuges~ ~nd e~cpenses ahall be immedimtely due snd pay- ~ sble and ahall be secured by the lien oi thi~ mortQaQe. ~ Thet he will kee~ the imprnvements now existing or heresfter erected on the mortgaged property~ insured as m~y be requir~d from tiume to time by the mo sgsinst las3 by fire and other hazarda. cmauslties, ~nd continaencies in such amounts s?nd for auc~i p~eriods as may be required by mortgagee. snd will pay prompt~t?. when due~ any premiums on such insur~nce for payment of which provision has not been mxde hereinbefore. All iasurance g1?sll be carried in comp~nies spproved by ~+nrtgagee and the policies ~nd renewnls thereof shall be held by martgagee snd hsve attached thereto loss payable cls~ua~s in favor of and in form acceptable to the mortgagee. In event of losa he will give immediate noti~x b mail ta mort~aQee. snd mortgagee may mwke proof of lnss if not made prnmptly by mortgagor, ~ snd eac~ insurance company concerned ia hereby ~uthorized and directed to make payment for such loss directly to mortgsQce it~stead oi to anortgagor and mort jointly, and the insurance proceeds~ or anypart thereof~ may be applied by mortgagee at its optjon ei~t ~er to the reduction of the indebtedness ~ hereby aecured or to the restoratior~ ar repair of the property damaged. In event of foreclasure of thia ~ mc?rtgage or other transfer oi title to the mortgaged property in extin~uishment of the indebtedne~s ~ secured hereby, all right, title, and interest nf the mortgaSor in and to any insurance policies then in force shall pasa to the parchAaer ar grantee. 8. Ttu~t the mortga~ee msy. at sny time pendin~ a auit upon thia mortgage~ ~pply to the court hav- in~ juriadietion thereof for the appointment of a receiver~ and such court shall forthwith appoint a receiver of the premises covered hereby all and singular~ including all and singular. Che income~ profits. issu~. and revenue~ from whatever aource derived~ each and every of which. it be~ng expressly under- slood~ is hereby mortgaQed as if specifically set iorth snd deacribed in the granting and habendum clauses hereoi~ and auch receiver ahall h~ve all the broad and effective functiona and powers in a~nywise entrusted by a court to a receiver~ and auch sppointment ahall be made by such court aa an admitted equity and s matter of abeolute right to aaid mortgagee~ and without reference t~ the adequacy or inad- equ~cy of the value of the property mortgaged or to the aolvency or insolvency of said mortgagor or the defendanta, ~nd that such rents~ profits, incorne, issuea, and revet~uea shall be applied by sueh receiver • sccording to the lien of this mortgage and the pr~ctice of such court. In the event of any default on the psrt of the mortgagor hereunder. the mortgagor agrees to pxy to the mortgagee on demand as a reason- ~ s~ble tnonthly rentat for the premises an amount at lesst equivselent to one-tweifth (i„z) of the aggregate oi the twelve monthiy installmenta payable in the then current year plus the actual amount of the ar,nual ' taxea aaaeasments~ water rates~ su?d in~urat?ce premiums for sueh year not coaered by the aforesaed mont~ly psyments. 9. That (a) in the e~~ez~t of any bi•each of this mortgage oi• clefault on tlie part of the moi•tgagoa•, oi• ~ (G) in the event that any of said sums of money herein a•eferred to be not promptly and fuliy paid ~~~ith- out demand oi• t~otice. or (c) in the event that each and eve:•y the stipulations~ agreements, conditions, and co~•e~?ants of said note and this mortgage, ~re not duly, prumptly, and fully perfoihrted ; then in eithei• oe• xny sucii e~•ent, the said agg~•egate sum mentioned in saicl uote then ~•~maining unpaid~ ~vith interest acerued to that time. and all moneys secured hereby~ shall become due and payable forthwith~ . oi• thei•eafter. at the optioti uf said moi~tgagee, as fuli~• and completely as if all of the said sums of money ! ~~~ere oi•ginally siipulated to l~ ~~aid on such day, anything in said note or in this mortgage to the contrai•y + not~ti•ithstanding; and thei•eupon or tt?ei•eafter, at the option of said moi•tgagee, without notice or demand, . ~ suit at la~~• or in equity, may be prosecutert as if all money~ secua•ed hereby had matureci priar to its insti- tution. The moi•tgagee may foreclose this mortgage, Rs to the amount so declared due and payable, and ~ the said pi•emises shail be sold to satisfy and pay the same together H•ith cosLs, expenses, and allnwances. In case of partial foi•eclosure of this moi•tgage, the moi•tgaged premises shall be sold subject to the con- ~ tinuing lien of this rnort~age for the amount of the ciebt not then due ~nd unpaid. ln ~~tch case the pro- visions of this pa?•ag~•aph may again be availed of tl~ereafter from time to time by the mortgagee. ~ 1a. That the moi~tgagor ~~•ill give immediate notice by mail to the mortgagee of any conveyance. ti•ansfer, o~• change of o~?•nei~ship of the premises. ~ 11. That no waiver of any covenant heY•ein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the note secured hereby. ~ 12. That if the rnortgag+or default in any of the covenants or~greementa contained herein. or in aaid note, then the mortgagee may perform the same~ and all expenditures (including re~sonahle ~ttor- , ~ ney's fees) made by the mortgagee in so doing shall draw interest at Lhe rate set forth in the note secured 1 hereby, and shall be repayable immediately and without demand by the mortgagor to the tnortgagee~ snd, ; . together with interest and costs accruing thereon, shall be secured by this mortgage. ; 13. That the mailin~ of a written notice or demand addressed to the owner of record of the mortgaged premises, or directed to the said owner at the IssL address actually furniahed to the rnort~a~ee~ or directed to ~aid nwner at said mortgsged premisea~ snd mailcd by the United States mails, ahall be aufltcient notice and demand in any ~ase arising under thi~ instrument and required by the provisiona hereof or by law. ' 14. The mortgagor covenants and agrees that so long as thia martgage and the said note secured hereby are insured under the provisaons of the National Housing Act, he will not eacecute or file for record + any instrument which impoaea ~ r~trictian upan the ssle or occupancy o! tn+e mortgaged property ~n the ; basia of raee~ colar, or creed. U~on ~u+y violation oi this undertAking~ ~he martgagee may~ at it~ option, declare the unpaid balance of the debt secured hereby immediately due i?nd payable. ~ , , ~ ~ ~ ~ . - j ~ a~K~~' .A ~O4 . . ~