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Home My WebLink About1288 • ~ .~~~~j • . . l~ . ~ # - ~ ~ 5. ~'Mwt he wW permit, canmlt. a suffer ao ~raste~ impairtoent, or deteriaatioa of sald pcoperty oc anf pqit tbereof; aad ta the eveat af the failure ot the mortQaga to keep tbe buildia~ oa s~id premiaes aad thase tob~ erscted on s~?id prealses. or iopcovemeats tbeceoa. ia ~ood repo~r, tbe mo~t~a~ee awy make such cepoirs as in iti dbcretlon it qMy daem aecessary fa the p~oper prese~vatioa tl~eceot. ~ad the full amouat of each aad every sucb p~ymeat sball be im~oediataly due aad poyable. and shall be secured by tbe llcq of thls moct~age. 6. That he wil! p~y all aad s1a~uLr the~costs, clurgees, and expenses, iacludia~ r~soaable 1~?vryer's Eees. •nd costs of aDstracts of title. incurred oc pojd at aay tims by the moct~agee beceuse of the fAilure oa the pprt ot ~ t1~e mo~t=aga p~omptly aad fuUy to ptrfa~ the agieements aed coveaaats of said pranissory nate and this mat- ~age. ~?ad said costs. ct~rges. ead expeases shall be immediately dae aod poyable and shal! be secured by tbe llea af this moctgage. ' , 7. ?bat he wIll keep the ieop~ovemeats now axistin~ oc heeeafter erected on the matgaged ptopedq, insuted u may 6e required froeQ tI~ tc+ t;~? by ~he~ n~ttt+gn A~c±~tl+~R`lc+ae 6y fiee and otber basards, casuolties.. aad contin- , geocies ln snch amouats aad for auc6 periods as may be e~equired by o~a~tgager~, ond will pay promptly, when due. aay pre~iwns on such iasuraace for paymeat of rvhich pcovisi~ has aot beea made beceinbefoce. All insurance slwll be cacried ia co~poaies appcoved by matgagee ead the policiea and reaev~als thereof shall be held by moct= gagee and have atta~.aed thereto loss payable clauses in fava of aad in fam acceptable to the matpgee. Ia event of loss he will give imaediate aotice by msi! to matg~agee. aad mortgagee may a~ake proof of loss if not made promptly by mortgagoc, and each insurance company coacerned is heceby authorised and directed to ma~e poymeat for snch loss dicectly to noctgagee instead of to mateaga and moctgagee joiatly, and the iasurance pro- ceeds, a aoy pect thereof, may be applied by mortgagee at its optioa either to the rednction of the indebtedness hereby secaced or to tl~e testaation a repair of tbe pcopedy damaged. la eveat of foceclosure of this mortgage a other tr~asfer of title to tbe mortpsed property in extinguisb~oent af the irdebtedas$s secured Leceby~ all rigbt, title. aad Intetest oE the moetg~aga ia aed to aay iasarac~ce policies tt~ea in fo~ shall psss fo the purchaser o~ g[antle. ~ r.,. a. ; 8. Tbat the moctgagee moy. ~t any time peadin~ a auit upon this matgage, apply to the c~~tn{g ~drisdic- tioa thereaf fa the appoiatmeat d~ teceiver. and such caut sball •fath~rit6 appoia~ w rective~ Qf the pcemises coveced hereby all ~nd siagular, includingall and singnlar the iraomg~ ~raffts, iss~es, aad revehuas from whatever source derived. eacb and every af which. it beiag e:pressly uaderstood, is heceby mod$aged as if speclficaUy set forth ead described in the g~satiag and habeadum clauses heceof. aad such receiver shall have all the broad aad effective functions aad powers ia anywise eatn~sted by a cairt to a receiver, and such appointa`ea~ shall be made by such co~ut as an admitted equity aad a aiatter of absolute right to seid..~t~pgee, aad ~~althqut r~ference to the adequacy or inadequacy of the value of the ps~opedy matgeged o~ to the sokveacy oi •lakolveacy oP~sid mortg,aga or tbe defendents. and that such reats, profits, income, issues. and revenues shall be applied by such receiver according to the lien of this matgage aad the practlce of sach caut. In the event oE any default on the part of the matga~or hereunder. the matgagor agcees to pay to the moltg,sgee on demand as a ceasoaable monthly rental fa the pcemises an amount at least eqpivalent to oae-twelfth (1/12) of the aggregpte of t6e twelve monthly install- o~eats payable ia the thea curcent year plus tbe actual amouat of the aaaua! t~es. assessments, water rates, and iusncance premiums for soch year nd covered by tha aforesaid moathly paymeats. 9. That (01 ia the event of any breach of this mortgage or default an the pad of the modgagor, or (b) ia the event that eay of said sums of money herein referced to be not promptly and f~lly paid aithont demand or notice, ~(e) in the eveat that eac6 end every the stipulatio~, agreemeats. coaditioas, and covenants of said aote and this mortgage. are not duly~ promptly, and fully pecEora~ed; thea in either a eay auch eveat, the said aggFegate sua mentioaed in said aote then ren?aining ~wpaid, with iaterest accrned to that time, aud all awneys secured hereby, shall become due and peyable fathwith, ac thereeher, at thE~ optioa of sa~d moctg,agee~ as fully and com- pletely as if all af the seid sums of money were origiaally stipulated to be paid on such day, anything in said note or in this ~nodgage to the contrary aotv~ithatandlag; and thereupon a thereafter~ at the option oE said matga- ~ gee; withont notice or demand, suit at law a ia eqoity, may be prosecuted as if all moceys s~cured reby had I matured pria to its instltutioa. The matg,egee may foreclose this matgage, as to the amow~t so decl~d due and payable, and the said ptemises s6a11 be sold to satisfy and pay the same together with costs, expenses.aad allow- ances. Ia case of parttal fareclo~uce of this morEg,age, the mortgaged premises shall tie sold subjeet to tbe con- tinuing lien of this matgag~e fet tl~e amount of the debt aot t6en due and mpaid. In snch cese the provisions of this paragrapls may agein be availed of thereafter from time to time by the matgagee. 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or cbaage of awnership oE tbe premises. 11. That no ~aiver of aay covenaat herein or of the obUgation secnred hereby shall at any time thereafter be held ~to ~be a vvaiver of the tetms hereaf a ot tbb aote secured bcreby. _ 12. T6at if tke matgaga default in any of the covenants a agreements coutsined berein, or in said note. then the mortgsgee may perfocm the samg, and all expe~ulitures (including reasonable attomey's fees) made by the modgagee in so doing shall draw interest at the rate set forth in the aote secured hereby, and shall be reQayable immediately and witLout demAnd by the matgaga to the mortgagee, and. together ~rith interest and costs accruing thereon, s6a11 be secured by this moctg,age. - 13. that the mailtAg of a written notice a demandaddressed to tlx owner of record of the mortgaged premises. or directed to the said awner at the last oddress ectually furnished to the moetgagee, or directed to seid owner at said modgp~ed pcemises; aad mailed by the Uaited States meils, shall be sufEicient notice aad demend in any caae arising nnder tbis instrument a~ requiced by the provisions heceof or by la~v. 14. Tbe moctgaeac eovenants and egtees t6at so long as this matg,sge aad the said notg se~ured hereby are iasured under the provisions of the National Nousing Act. he aill not execute or file for record auy iastrument vrhich imposes a cestrictioa upoa the sale or occupaacy oE the modgaged propedy on the basis of race. cola. or creed. Upon any violatioa of thia andertaking. the mortgagee may, at its option, declare the nnpaid balance of the debt sec~ed beieby immediately due aad payable. 15. The mortgagot fucther coveaants that should this mort age and the note secored heceby not be eligible for ins~uance uader tLe Na4aoal Honsing Act within ~~Y~ frnm t6e date hereof (written stateseat of any officer af the Departmeut of Honsing and Urban Developmeat oc authorized agent of the Secretary of Hous- ing aad Urbaa Developmea~ dated snbsequent to ~ 3o naYS time Erom the date of this mortg,a~e, declining to Insnre said note and tbis mortgpge. being deemed coaclnalve pcoof af.sricb iabligibility), tbe matga- gee er tl~e holder af tbe note m~y, at ita optioo, declare all sna~s secnced beteby~ immediatelt due and peyable. T6e coveaants 6erein caatained shaU biad, aad the beaefits and advaat~ges sh~ll.inure to, tLe respective beics, e:ecutas, ~dmiaistratas, succesBOrs, and sssigns af t6e parties hereto.; W6ene~er~nsed, the siogular aum- ~ ber shell-include tha plaral. tbe pl~ual tbe singular, and the uss ot anq geader shall~include all geaders. - ~165 ~1285 ~ ~~~x~t ~ ~ ~ _ _ _ - ~ ~w ~