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Home My WebLink About0577 , ' • ~ .I~~~ ~ • 1 ' , ~ S. That he will permlt, commit. or sufEec no waste. impaira4eat, oc detecioratlon of said p~operty or aay part theceof; and in tbe eveat oE the Eeilure oE the mortgagor to keep tbe buildia~,s oa said premises aad those tobe erected on aaid premises, or improve~aeats thereon. ia good cepe~r. the mat~agee awy awke such cepoirs as ia its discretioa it aay deem necessory foc the proper presenration thereof. and the tull aawunt a roc6 and every sucb paya~ent shall be iaaaediately due aad payable, aad shall be secuced by the liea of thia a~oetgage. 6. That h~ wlll pQy •11 ~nd sia~ular the casts, clwrQes. and expenses. including re~soaable tawyer's fees. aad costs of abstracts of title, incurred o~ pold at aay time by the a~oetgagee because of t6e failure oa the part of tbe mort~agoc prom~ly and fully to perfaaa the agceeme~ta and covensats of said pcomissory note aad this mat- gAge. and aaid costs, chargea. aad expeases atwll be immediately dne aad payable aad shall be aecurcd by t6e liea af tbis matgage. 7. That he will keep the improvements aow existing a hereafter ecected on the matgaga.' ;+copedy. ins~ued as a~ay be cequired from time to time by the matgagee against loss by fice and other haaaids. casu~kles, and coatin- geacies Ia such amounts and for auch periods as may be cequieed by matgagee. and wiU pey promptly. whea due. aay pceaiums oa sucb iaawance for payment of ahicb provisioa has not beea awde heceinbefae. All iasurance shall be carcied in companies appcoved by matgagee aad the policies and renewals tbenof sl~all be held by mat- g,agee and have attathed tLereto loss payable clauses in Eava of and i~ fam accepteble to tb~ mat~agee. In eveat of loss he wlll glve immediete notice by a~ail to mortg~agee, and anatgagee mey make pcoof of loss if aot made promptly by matgagor. end each insurance company coaceraed is heceby authaised aad directed to make peyment fa snch loss dicectly to mortgagee instead of to matgagor and moctgagee joiatly. aad the insurance pro- ceeds, or any part theceof. may be applied by matgagee at its option either to the rednction of the indebtedness hereby sccnred or to the restorati~n oc repaic af the propedy damaged. Ia eveat d foceclo~ure af this mortgage a other transfer of title to the mortgaged propedy in extingnishment of the indebtedness secured hereby, all right. title. and interest of the mort&aga i~ aAd to any insurance pol~ies thea ia force shall pass to the purcbaser ac g~antee. 8. That the moctgagee may, et any time peading a suit upon this matgage, apply to tbe coart having jucisdic- tion thereaf fa the appointmeat of a receiver~ and such couit shall forthwith appoint a ceceiver oE the premises covered hereby all and singular. Iacludiag ell and singular We income, profits, issaes, aad reveqweg.fto~ abitever source derived. each aad every of which, it beiag expressly understood, is hereby mo~tgaged as 1f~spe~ifi~ally set. fodh aad described in the g~aating and hebendum clauses hereof. and such receiver shall have all the broad aad~ ' effective functions and poovers in anywise entrusted by a couct to a receiver. and suc6 appoiatmeat shaU be made _ by such court as an admitted equity snd a matter of absolute right to said matgagee, aad ~vithout refetence to the adequacy or inadequacy of the valne of the property matgaged or to the solvency oc insolvency of said matg~gar or the defendents. and that such reats, pcofits. income, issnes, and revennes shall be applied by such esceiver ~ • according to the lien of this modgage and tbe pr~ctice of snch ca~ut. In the event of aay def~~}lt,on the pad of the ' mo~tgagor hereunder. the mactgagor agrees to pay to the mottg,agee oa demand as a ceasoaable moathly rentel for the premises an amount at least eqpivalent to one-twelfth (1/12) of the eggReg,ate af the twelve monthly install- ments payable in the then current year plus the actual amount of the annual taxes, assessments, water rates, and iasurance peemiums for such year not covered by the afocesaid monthly peymeats. - 9. That (a) in the event of any breach of this mortgage or default on the ped of the modg~gor, or (b) in the eveat that eny of said sums of money herein referred to be not promptly and fully psid without deoaaod or notice, or (e) ia the event thst each and every the siipulations, agireements, conditious, and covenants of said aote and this mortgage, are not duly, promptly, and. fully performed; thea in either or any such event, the said aggFeg,ate sam I~Rtl00~ in said note then remaiaing uapaid, with interest accrned to that time, aod all moneys sec~ ~ hereby. shall become due and payable f~thwith, or theresEter, at the option of said mortgagee, as fnlly and com- pletely as if all of the seid sums of money were originally stipulated to be peid on such day, aaything in said note a ia this modgage to the contrary notwithstanding; snd theceupon or thereafter, at the option of said mactga- - gee, aithont notice or demand, -suit at law or in equity, may be prosecuted as if all aaneys secured hereby bad matured prioc to its iasGtuti~. The modg~agee may foreclose this matgage. as to t6e amWat so declared due aad payable, aad the said premises shall be sold to satisfy and pey the same together with co~ts, e:penses.and allow- aaces. Ia case of partial foreclosure of this mortg,age, the matgaged pcemises shell be sold snbject to the con- tinuing lien of this mortgage for the amount of the debt not Wen dne aad nnpaid. Ia such case t6e provisions of this paregraph may agaia be availed of thereafter from time to time by the mortgagee. 10. That the modgagor will give immediate notice by mail to the modg,agee of any coaveyance, traasfer, or change of awnership of the premises. 11. That no Waiver of any covenant herein or of the obligation secured hereby shall at any time theceafter be held to be a waiver of the tetms hered or of the note secured hereby. 12. TE~at if the mortgaga default in any oE the covenants or egreements contained 6erein, oc in said note, tben the modgagee may pedorm the samg, and all expenditures (including reasonable attoraey's Eees) made by t6e mortgagee in so doing shall draw intecest at the rate set fath ia the nde sec~ued hereby. and ahall be cepeyable immediately and without demand by the mortgaga to the mortgagee, and, together ~vith interest aad ca~ts accrning thereon. shall be secured by this modgage. ~ 13. that the mailing of a written notice or demend addressed to the o~vner of record of the matgaged premises, or directed to the said owaer at the last address actually fnraisl~ed to the mortgagee. oc die~ected to said owner at said mortg,aged premises. and mailed by the United States mails, sball be sufficient aotice aad demand ia any cese arisin~ nnder this instcument and required by the provisioas hereof ot by law. 14. The mortgagoc covenants and ag~rees that so loag es thia mort~sge and tbe seid note secnred l~erebq are ins~ued under the pmvisions of the National Honsir~g Act, he will not e:ec~e or file for recocd any instrument abich imposes a restriction upon the sale or occupancy of the modg,aged propedy oa tbe basis of race, color, or creed. Upon any violatioa of this undertaking, the mortgagee may, at its option, declare tbe uap~id balance of the j debt sec~red hereby immediately due and payable. " ' 15. The mortgagor further covenants that should this ma~~tga ge and the note secnrad hereby aot be eligible ` ' for insnraace under the Netioaal Housing Act aithin 3Q ~AYS from tbe date bereaf (written ststement + ~ of any officer ef the Depa~tment of Honaiag and Urban Development or authocizcd a~ent af the Secretary d Hous- ` ~ ing and Urbau Development dated subsequent to tbe ~~aY$ tiae from tbe date af this mortgpge, ; _ decliaing to insure said note sad this modgage, beiag dee coaclusive proof af sucb inelig~ilitq), tLe matg~e- ; ~ gee o~ the holder af the note may, at its option, declare all suma secured herebq immediately dne aad peyable. T6e coveaants haeia contaiaed shall bind, aad the benefits and advaatages shall innre to, the respectiv~e heirs, executors, admiaistrators~ successocs, and essigns d tbe puties bereto. Whenever used, the singular aum- = ber ahall inclnde the plural, the plural the singular, and the nse of aay gender shall include all genders. ~ i ; ~165 ~ 575 ; y-~, - w:. . - ~ 1~~:~