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Home My WebLink About0423 ~ . ' r t' ~ d ~ ~ ~ ~ . f 's . . 5. That he will permit, commit. o~ sutfer ao waste. Lpai~ent. o~ detesiaatioa of said propedy or any ostt thereof; and ia the event af the failure d the oo~tgagoc to loeep t6e building~ oa said premises and Wose tobe erected on said premises. ot improveeeots t6eceoa. in good repau. tLe matg~gee may moke such cepaus as ia its discretian it moy deem necessary fo~ tbe p~oper preservation t6ereaf. and We tnll amouat oE each aod every s~cb payment shall be imaoediately dne and payable. aod shall be ~ecm~ed by the Ika of this mortgage. 6. That he will pey all and singular the costs. cbarges. and e:peases. iacluding reasoaable lawyer's fees. and costs of abst~acts of title. incnrred ar paid at aay time by tbe matg,agee becaose of the failuee aa t6e part af the mortgaga promptly and fully to perfam the ag~reeaeats aod covenaats oE said pranissory note aod this mo~t- gage, and said costs. charges. and e~cpeases sball be ioaediately dne aad peyable snd shall be secure~ by t6e liea of this mortgage. 7. T6at he wiU keep the improvements naw esistiag a hereafter erected aa thc oatppged pcopedy. insured as may be required from time to time by the ocrtg~agee against Iess by ELe aad dher boza~ds. cas~lties, and coatur gencies in such amounts and foc snch peciods as may be reqnired by matgagee. aad wiQ pay promptly, whea duc, any preauums o~ such insurance for peymeat oE which pcovisioa 6as not been made hereinbefae. All ias~uance shall be carried in compaaies approved by matg~agee and tbe policies and renewals the~eof shall be held by mect- gagee and have attached thereto losa payable clauses ia faver of aod 'm form acceptable to the mort~gee. In eve~t of loss he wili give immediate notice by mail to mat~gee, and oo~tgagee may maloe proof oE loss if aot made promptly by mortgagor, aad each ioauraoce compeay coaceraed is 6eeeby anthaised aad airected to make payment for such lass directly to mortg,ngee instesd oE to mo~tpgac and matg~agee joiatly, and thc insurance pro- ceeds. or any pad theceof, may be applied by mortgagee at its option eit6er to t6e cednctioa of the indebtedness hereby secured or to the restoration a repair of the propedy damegad. In event d faecla~ure af tbis mortgage or other transfer of title to the moct~pged ptopedy in estinguishaent af the i~ebtedaess setured hereby. all rigbt, title. and interest of the mo~tgraga ia aad to any iasnraace policies thea in face shall pass to the purc6aser a graatee. 8. That the matgagee aay. at any time peading a snit apon this nortg,age. apply to t6r caut heviag jucisdic- tion tbered for the appointment oE a receivec, aid sach caut s6e11 fathwith appoiat a teceiver of the premises covered heceby all and singular, inclnding aU aod singatar the iacooe. pcaEits. issaes, and revenues from whatever source derived, each and every oE ~hic6. it beiog e:pcessly mderstood, is 6enby matg~ged as if specifically set fodh and described in the grantiag and 6abendum clauses hereaf, aad snc6 ceceiver shall Lave al! the broed and effective functions and poaers in anywise entmsted by a couct to a ceeeiver. and suc6 appoiatmeat shall be made by such coud as an admitted equity and a matter oE absolute rigbt to said matgsgee, aad without reference to tbe adequacy or inadequacy of the value of t6e pcopedy moRgaged or to t6e solvency a iasolvency of said mortgagor or the defendents, and that such teoLs, 'profits, iacome, iss~es, aod revenues siwll be applied by such receiver according to the lien of tbis m«tg,sgt ead tLe prectice of soc6 canrt. Ia t6e event of any default on the pad of the modgagor hereunder, the mortgaga agrces to poy to the matgsgee ao demaid as a ressooable moathly rental for the premises an amount at least eqµivalenf to one-twelfth (1/12) of t6e aggtepte d the twelve mont6ly instalt- ments payable in the then cnrrent yreaz plus the a~tu~l amount of tLe annnal ta:es, assessments. water cates, and insurance premiums for such year aot covered by the aforesaid moathly payments. 9. That (o) in the event of aay breach of t6is ~oitg,~ge oc defank oa tbe pad d the mortg~goc. or (6) in the event that any of said sums of money hereia refecred to be aot provptly aod fnlly paid wit6ait demand or notice. , or (c) in the event that each aqd e~ecy tl~e stipnlationa. agrceaents, canditians, and covenants of said note and this mortgage, are not dul~?,~ Q~ovptl~r, and. fnlly parfOrmed; tLen in eitba ~ aay soc6 eveat. the said agg~egate sum mentioned in said note then cemaining mpaid,~ ~ith interest aaxued to that ~tioe. and all moneys secured hereby. shall become due and payable fat6wit6, or t6eresker, at tbe optioa oE said mortgagee, as fnlly and com- pletety as if- all of the said s~ms of money were aigiaally stipulated to be p~id on snch day. aaything in said note a in this modgage to the contrary notwithstanding; aod tbeceupon oc t6ereafter, at tbe option af said moctga- gee, without notice or demand, suit at la~v or ia eqnity, may be prosecnted as if all a~ooeys secured hereby had ` matured prior to its institutioa. T6e matpgee mey foreclose this matg,pge, as to the amoant so declared due sad payable, and the said premises s6a11 be sold to satisfy aad pay the same toget6er with costs. e:penses,and allow- ` ances. In case of partial foreclo~nre of this mortg,age. tLe aw~tg~gied peemises shall be sold subject to the con- ~ tinuing lien of this mortgage far the amount d the debt nd t6ea doe and mpaid. Ln such case t6e provisions of ~ this paragraph may ag,ain be availed oE theresft~ from time to time by the moctgagee. t 10. That the modgagor will give immediate notice bq mail to the mortpgee of any coaveyaace, traasfer, oc i ~ change of aavners6ip of the premises. ; 11. That no waiver of any covenaat herein o~ of t6e oblig,~tion secared hereby s6all at any time tbereafter be ~ ~ held to be a waiver of the tecros heced or oE t6e note secnced bereby. s 12. That if the mortgaga default in aay af tLe covenants ar ag~eeioents coatained bereia, a in said oote, then ~ the modgagee ~y perform the same, and all e:peadit~res (incloding ceasoaable attaroey's fees) made by the mortgagee in so doing sl~all dra~v interest at tbe rate set fatb m tbe nde ~ecored hereby, and shall be repayable immediately and arithout demand by the qw~tg,aga to tLe moctg,agee, and, together with intecest and costs accruing thereon, shall be securei by this mortgage. 13. that the meiling ~of a written ndice or demandaddressed to the awnec oE recocd of We mortgaged pcemises, . or directed to the said ovvner at the last address actually farnished to t6e matgagee. or directed to saido~vner at - said mortgaged premises, and mailed by t6e United States mails, sball be s~fici~t naRice and dema~ in any _ case arising under this instrumeat and reqaired by the p~avisims hereof ar by law. 14. 'Phe modgagor cavenants and ag~ees that so long es this ~oitg~age and t6e said note secnred hereby are insured under the provisioos of the Natiooal Honating Act, be will nd eYecate o~ file for recocd any instrument which imposes a restriction upoa the sale or axapaocy of t6e mortg~ged propedy on t6e basis of race, color,_ or creed. Upon any violation of t6is ande~taking, the moctg~agee may. at its optioo, declare the uapaid balance of the ~ debt secured hereby immediately doe and peqable. ~ 15. The mortgagoc forther covenants that shoald this ge and t6e note secnred hereby not be eligible for insurance under the Natiaoal Honaing Act within ~ froo tbe date hereof (written stateoeat ~ of any officer of tbe Depadment d Housing and Ucban Developvent or adbocized ageat of the Secretary of Hons- ~ ing and Urbaa Development dated snbsequent to c~ 30 pAYS ~ from tbe date of this mortg,age, ~ declining to ias~ue said nde and this mortgage, being deem~! caaclosive proof d sach iaelig~bility), tLe mortga- gee or the holder of the no:e may, at its optioo, declare all sa~s secured bereby immediately doe and payeble. The coveaaats herein contained sball b~d, aod tLe beaefits aad advaatages shall innre to, the respective heirs, e:ecutors. administratas, snocessas, ~Ihd assigos af the pa~ties hereto. ~heneve; osed, the singular aum- ber shall include the plural, the plaral tbe aingalar, and the nse of anyr ~eqder shall incl~de all genders. . goox 164 ~ 421 ~ ~ _ ~ _ Ta~ -