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Home My WebLink About1369 • • ~~°~~~~t~~ i:::~ ~L~ ~ ~ ~ S. Tlwt he wlll pe~mit~ commit. or suffer no aeste. impeira~ent. o~ deteriaatio~ oE said pro~e~ty or any pad r thereo[; and ia the ev~nt of tha failure of tAe aaortgagor to keep tbe FuiWiags on said preiaises aad tho~e tobe i erected on said premises, or impcovements theceo~, in good cepair, the mo~tgagee mey make such rcp~irs as i~ its ' ~ discretioa it nwy deem necessary Eoc the proper p~ese~vation thereof. s~d the full nmount of each aed eve~y sucb ` pQyment s!w!1 be Im~aediately due aad payable. a~d st~ali be secured by the lien c+f ti~is mortgage. i 6. 7'hat he ~vill p~y ali and singu[ar the costs. charges~ aad expenses. iacludiag ~eesonable lawyer's feea~ aad casts of ebstracts of title. incurred or pai : at any time by tbe matgagee be~:ause oE the failu~e on the pact oE the matgagoc promptly and fully t~ perferm the agreements and covenants of said p~omissory note and t6is mort- gage. and said costs. charges. and expenses shall be immediately due and payable and shall be secured by the lien of this matgage. _ 7. That he will keep the itnpwvements now existing cx heoeatte~ erected on the ruoetgaged property. inswed as may be required from tlme to time by tFf: mwtgagee again: t~ lo~s by fi~e aad other hazards. casualties. and contin- gencies in such amounts and for such perie-'.s as may be cequired by mortgagee. and ~vill pay promptly. when due, a~y premiu~ oa such insurance for payment oE which pcovision has not been made he~einbeiore. All insurance shalt be canied in compa~ies approved by mortgagee and the policies and renewals thereof shall be held by mort- gagee and havt attached thereto l~ss payable clauses in favor of and in form acceptable to the mortgagee. ln ( event oE loss he will give immediate notice by mail to matgagee, and mortgagee aaay make pcoof of loss if no1 ~ i r~s~e promptly by mortgagor. and each insurance compeny concerned is hereby authaised and directed to make payc~ent Eor such loss directty to mortgagee instead oi to matgagor and mortgagee joiatly. and the insurance pro- ceeds. o~ any part thereoE. may be applied by uaatgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration oc repaic of the property ~amaged. I~ event of faeclosure of this mortgage or ~ other transfer of title to the awdgaged property in extinguishment of the indebtedness secured hereby, all right. ' title. and interest c+E the mortgago~ ia a~d to any insurance policies then in focce shall pess to the purchaser a ~ grantce. i 8. That the mortgagee a~ay, at any time pending a suit upon this mortgage. apply to the court havi~g jurisdic- • tion thereoE fa the appointment of e receiver. and such court shall forthwith appoint a receiver ot the premises covered hereby all aad singular, including all and singuler the income. profits. Issues. aad revenues from whatever source derived. each and every of which. it beiag expressly understood, is hereby mortgaged as if specifically set fodh and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and efEective functions a~d powers 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 adequecy or inadequacy of the value of ths propedy moctgaged or to the solveacy or insolvency of said mortgagor ~ or ~he defendents. and that seech rents~ profits. income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such court. In the event of any default on the part of the ~ mortgagor hereunder, the mortgagoc agrees to pey to th~ mortgagee on demand as a reasonable monthly cental for ~ the premises an amount at least eqpivalent to one-tovelfth (1/12) of the aggregate of the tweIve monthly insiall- ments peyab2e in the then cuaent year plos the actual amo•.u~t of the annual taxes, assessments, water rates, and ' insurance premiuins for such year not covered by the afocesaid monthly payments. 9. That fa) in tl~e event of any breach of this modgage or default on the pad of the modgagor, or (6~ in the event that any of said sums of money herein referred to be not promptly and fully paid without demand or notice, or (c1 in the event that each and every the stipulations. agreements. conditions, and covenants of saitl note ar~d this modgage. are_ not daly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said note thert remaining unpaid, with interest accrued to that time, and all moneys secured hereby. shall becoaie dae and payable forthwith. or thereafter, at the option of said moctgagee. as Eully and com- pletely as if alt of ti~e said suirs oE money were orisinally stipulated to be peid on such dey. anythiag in said note or irt this modgage to the contrary notwithstanding; and thereupoa or thereafter, at the optio~ of said moctga- gee, without notice or demand, suit at• law or in equity, may be prosecuted as if all moneys secured heceby had ; matured prior to its institution. 1'he mortgagee asay foreclose this mortgage. as to the amount so declared due and ! payable. and th~ said premises shall be sold to satisfy ac?d pay the same together veith costs. expenses,and alloar- ~ ances. In case of partial foreclosure of ihis matgage, the mcxt ed ~ gag Qaemises sha31 be sold subject to the con- ~ tinuing liea of this mortgage for the amount of the debt not then due and unpaid. In soch case the provisions of j this paragraph may again be availed of theteafter fcom time to time by the modgagee. 10. That the modgagot will give immediate notic~ by mail to t6e morfgagee of any conveyaace. transfer, a change of ownership of the premises. 11. That no waiver of any covenaat herein or of the obligation secured hereby shall at any time thereafter be held to be e waiver of the terms hereof or of the note secured heceby. 12. That if the mortgagor default in any of the covenants or agceements contaiaed herei~, or in said note, then ? the modgagee may pedorm the same, and aIl eapenditutes (including reasonable attorney's fees) made by the ; mortgagee in so doing shatl draw interest at the rate set fath in the note secured hereby, end shall be repayable ~ immediately and without demand by the mortgaga to the mortgagee. aad, together with intecest and costs accruing : thereon, shall be sec~red by this modgage, 4 13. that the mailing of a written notice or demand addressed to the ownet of record of the mortgaged premises, ~ or dirzcted to the said owner at the tast address actuall fucnished to th € y e mortgagee, or direcied to said owner at , ~ said modgaged premises, and mailed by the United States mails. shall be sufficient notice and demand in any ~ case arising under this instrnment and required by the provisions hereof or by law. 14. The modgagor covenants and agrees that so long-, as this mortgage snd the said note secured hereby are f insured under the provisiosss of the Nationel Housing Act, he will not execute or file for record any instrument - whick imposes a restriction upon the sale or occnpancy of the mortgaged propedy on the basis of race. color. or creed. Upon any violation of this undertaking, tbe mortgagee may, at its option, declare the unpaid balance of the debt sec~ed hereby immediately due aad payable. ~ 15. The modgagor furtner covenants that s6ould ~is, mortga ge and the aote secnred hereby not be eligible for insurence. under the Netional Housing Act within ~'l~rty days from the date hereof (rvritten statement of any officer of the Depcrtment of Housiag and Urban Devetopment or authocized ageat of the Secreiary of Hoos- ing and Urban Development dated subsequen! to the thi][ty daY time from the date of this modgage, declining to insuce said note aad this mortgage. being deem~d coaclu~ive proof ef such ineligibility), the moctga- < gee or the holder of the note may. at its option, ~eclare all sums secured heceby immediately due and payable. ' ~.The .covenants, herein contained shall bind, and the +~enefits and advantages shall inure to. the respective ; heirs. executors, admiuistratocs, successors, and assigns af the parties hereto. Whenever used. the singular aum- ber shall include the plural, !he plural the singular, and the use of any gender shall inclade all genders. 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