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Home My WebLink About2465 . • ~ . ~ !,':~i S, That he will.petmit~ canmit. a suftec no waste, impaicme~t. or deteriaation of said property or any part thereof; and in the event,bE the Eailure of the moctgagor to keep the buildings on said pcemises aad Wose tobe erected on said preaise.s; or impcovemeats thereon. in good repau, the modgagee may make such repairs as ia its discretioa it awy deea~ illcessary f~ the proper pceservation thereof, and the full emount of each aad every such payment shell.be imtia4~iately due and payable. and shall be secured by the lien of this mortgage. 6;.,Tl~at ~lie wl!l~Qay all and singular the costs. charges, and expenses, including reasonable lawyer's fees. arxf costs.o(.qbstracts of title. incurred or paid at any time bythe mortgagee because of the failure on the part of the mortga~pC_ pco~uptly and fully to pe~Eorm the agreements end covenants of said promissory note end this mort- gage. and s~id costs. charges. aed expenses shall bc immediately due as~d payable and shall be secured by the lien aE this mottgage. 7. That he will keep the improvements now existing or heceaEter ecected on the modgeged propedy~ insured aa may be required from time to time by the matgagee against loss by fire and other hazards, casualties, and coatin- gencies in such amounts and for such periads as may be required by mortgagee. and wilt pay promptly. when due. aay Premiua~s on such insurance Eor peyment of which provision has ~ot been made heceinbefore. All insurance shall be carried in companies approved by mortgagee and the policies and renewals theceof shall be held by mort- gagee and have attached theceto loss payable clauses in favor of and in form acceptable to the modgagee. In event of loss he will give immediate notice by mail to mortgagee~ a~d mortgagee may make proof of loss if not raade promptly by mortgagor. and each insurance company concerned is hereby authorized and directed to make peyment for such loss directly to mottgagee instead of to mo~tgagor and mortgegee jointly, and the insurance pro- ceeds, or any pad 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 property damaged. In event of [oreclosure oE this mortgage or other transfer of title to the modgaged propedy in extinguishment of the indebtedness secured hereby, all right. title. and interest of the mortgaga in and to any insurance policies then in force shall pass to the purchaser or grentee. 8. That the mortgagee may. at any time pending a suit upon this mortgage~ apply to the court having jurisdic- tion thereof for the appointmeat of a receiver. and such court shall fodhwith appoint a receiver of the premises covered hereby all and singular. including all and singular the income. profits, issues, and revenues from whatevec source derived. each and every of which, it being expressly understood. is hereby modgaged as if specifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and efEective functions and poaers in anywise entrusted by a court to a receiver. and such appointment shall be made by such coud as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the • adequacy oc inadequacy of the value of the propedy mortgaged or to the sotvency or insolvency of said mortgagor or the defendents, and that such rents. prdit~, iqcQme, issues, and revenues shall be applied by such receiver according to the lien of this modgage and the piactice oE such coud. In the event of any default on the pad of the modgagor hereunder. the mortgagor agtees. tp pay ~o the mortgagee on demand as a reasonable monthly rental for the premises an amount at least eqµivalent.to one-twelfth (1/12) of the aggregate of the twelve monthlyinstall- ments peyable in the then current year plus the actual amount of the annual taxes, assessments. water rates, and insurance premiums for such yesr not covered by the aforesaid monthly payments. 9. That (o) in the event of any breach'of thi~ ~~r~,ortgage or default o~ the part of the modgagor. or (6~ in the event that any of said sums of ineney-6erein.referred;to be not promptly and fully paid without demand or notice, or in the event that each and every the stipulations, agreements, conditions, and covenants of said note and this modgage, are not duly. promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said note then cemaining unpaid, with interest accrued to that time. and all moneys secured hereby, shall become due and payable forthwith, or thereafter. at the option of said moctgagee, as fully and com- pletely as if all of the said sums of money were originally stipulated to be paid on such day~ anything in said note or in this mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said mortga- gee, without notice or demand. suit at law or in equity, may be prosecuted as if all moneys secured hereby had i matured prior to its institution. The modgagee may foreclose this mortgage. as to the amount so declared due and payable, and the said premises shall be sold to satisfy and pay the same together with costs. expenses,and allow- ances. In case of partial foreclosure of this mortgage, the mortgaged premises shali be sold subject to the con- tinuing lien of this mortgage for the amount of tbe debt not then due and unpaid. In such case the provisions of , this paragraph may again be availed of thereaEter from time to time by the mortgagee. 10. That the mottgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or f change of ownership of the premises. ` 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms hereaf or of the note secured hereby. 12. That 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 attorney's fees) made by the mortgagee in so doin ; shall draw interest at the rate set forth in the note secured hereby, and shall be repayable immediately and aitho~it demand by the modgagor to the modgagee. and, together with interest and costs accruing thereon, shall be secured by this modgage. 13. that the mailing o` a written notice or demand addressed to the owner of record of the mortgaged premises, or directed to the said owner st the last address actually furnished to the modgagee. or directed to said owner at said modgaged premises, ~~nd mailed by the United States mails, shall be sufficient notice and demand in any case arising under this instriment and required by the provisions hereof or by law. 14. The mortgagor covenamts and agrees that so long as this mortgage and the said note secured hereby are insured under the provisions c~f the National Housing Act. he will not execute or file for record any instrument arhich imposes s rest~ _=tion upca the sale o~ occupancy of the mortgaged propedy on the basis of race, color, or cregd. Upon any viol: .ion of this undedaking, the mortgagee may, at its option, declare the unpaid balance of the ~ debt secured hereby i:mediately due aad payable. 15. The mcttbagc,c f~uther covenants that should this mortgage and the note secured hereby not be eligible for insurance u•:3er the National Housing Act within thirty d2?ys from the date hereof (written statement ~ of any ofEicer f the Department of Housing and Urban Development or authorized agent of the Secretary of Hous- ; ing and Ucba : L'~velopment dated subsequent to the thiity da?ys time from the date of this mortgage, ~ declining to ins~re said note and this mortgage, being deem•~d conclusive proof of such ineligibility), the modga- gee ot the holde! of the note may, at its option. declare all sums secured hereby immediately due and pa}able. The covenants herein contained s::~!1 bind, and the benefits and advantages shall inure to, the respective heirs, executors, administrators, successors, and assigns of the parties hereto. Whenever used, the singular num- ber shall include the plural~ the plural the singular, and the use of any gender shall include all genders. a°ooK 15`~ r~cE 64 ; f t f .,~.~w.- r"~"^~~.eM ~--Pr .s~,~.~^..~ ~ g i ~ Q`~y ~'~'+r ~-sa...~,~ [ ~.s ' ~ ;