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Home My WebLink About1253 ~y • . ~ ~ ~ ~ d , ~e ~ ; 7 i . . ~ ~ ( + ~ 1 `y. J ' ? S. That he will permit. commit, a suEfer no waste, Impairment. oc dete~iaatlon of said pcope~ty ot any pe~t thereof; and ia the event of the failure of the modgagor to keep the bulldlags oe said premises aad tbose tobe erected on said premises, or improvements thereoa. in good repair, the modgagee tnay meke auch repeirs as In Its disecetion it m~y deem necessary foc tLe prope~ pcesecvatioa thereaf. and the full amount of each and every sucb payment shall be im~aediately due end peyable, and shall be secured by tbe liea of this mo~tgage. 6. Tbat he ~rlll pey all and singular the casts~ charges. and e:penses, iacluding reasonable lawyer's teea. and costs of abstcacts of title, incuned a paid at any time bythe mattgagoe because of the feiluce oa the part of the mortgaga promptly and fully to perfam tl~e ag~eements and covenaats of r~id pcomissory note aad this mort- gage. and said costs. charges, and expeases shall be immediately due and payable aad shall be secured by the lien of this moctgage. ' 7. That he vvill keep the improvemeats ~oar existing or hereafter ecected on the mo~tgaged p~operty, insured as may be required fcom tIme to time by the matgagee against loss by Eire and other hesarda, casualtiea, aad contin- gencies ia such amoants and for such periods as may be required by matgagee~ aed wiU pay promptly. when due. any premiums on such insuraace for payment of wbich provision has not beea awde hereinbefae. All iasncance shell be carcied in compaaies appcoved by mortg,agee and the policies aad ceaewals tbereof sl~all be held by moct- gagee a~d have atteched thereto loss peyabla clauses in •fevor of and ia, form acceptable to the mortg,agee. Ia eve~t of loss he vrill give immediate notice by mail to moctgagee. and a~ortgagee may make proof oE loss if aot made promptly by matgegor, and each insucance compeay concerned is heceby suthaized and d'uected to make peyment fa such loss di~ectly to mortgagee iastead of to mortgago~ and mortgagee jointly, a~d thc i~surance pro- ceeds, or say part theceof, may be applied by matgagec at its optioa either to tAe ceduction of thg indebtedness ~ heceby secured or to the restoration a cepair af the pcope~ty damaged. In event of faecloeuce of this mortgage or other transfer of title to the mortg,sged propedy in estiaguishment of the indebtedaess secured hereby. ell right. title, and intecest of the mortgaga ia and to any iasurance policies thea in focce shall~pess to the purchaser oc grantee. 8. That tbe matgagee may, at any time pending e suit upon this matgage, apply to the court having jurisdic- tion theceaf for the eppoiat~nent oE o teceiver, and such court shall fathwith appoiat a receiver of the p~emises covered hereby all and singular. includiag all and singular the income. profits. issues, and reveaues from whetever so~uce derived. each and every of which. it being expressly understood, is hereby aAOrtgaged as if specifically set fodh and described in the grantiag and habendum clauses heceof, and such receiver shall have all the broad and efEective functioas end ~powers in anywise entrusted by a court to a receiver. and such appointment s6a11 be made by snch court as an sdmitted equity and a metter of absolute right to said matgagee, and ~vithont reference to the adequacy oc inadeqt~acy of the value of t6e propedy mortgaged or to the solvency o~ iasolveacy of seid e~ortg,ega or the defendents, and that such rents, pcofits, income, issues, and revenues shall be epplied by such cecelver according to the lien of this mortgage and t6e practice of suc6 court. In tbe event of any default on t6e pad oE the modgagor hereu~der, the matgag~ agrees to pey to the mortg,egee on demand as a r~sa~able moathly ceatal for the premises an amount at least eqpivalent to one•twelfth (1/12) of t6e aggceg~ate af the twelve ~~y ip~talt- ments peyable in the then current year plus tbe actual amount ot tbe Qaausl taxes, assessments~ a+~~-nt~s. a`ad insurance premiuaas for such year not ccwered by the aforesaid montWy peyments. 9. That (o) ia the event of eny br~ach of this modgage or default an the ped of the modg,egot, or (6) in the ~ event that any of said sums oE money herein referred to be not promptly and Enlly peid aithout demand or aotice, or (c) in the event that each a~d every the stipulations, agceemeats, coaditions, aad covenaats of said note and this moctgage, are not duly, promptly, and fully pedormed; tl~ea in either or aay such event, the said aggregate sum mentioaed in said note then remeining unpaid, .with interest eccrned to that time, aad all moneys secured hereby, shall become due and paysble forthwith, a thereafter, at the optioa of said matgagee. es fully and com- pletely as if all of the said sums of money were originally stipulated to be peid oa such day. anything In ssid note a in this modgage to the contrary notwithstandiag; and thereupon or thereafter, at the option of said mactga- ; gee. _without notice or demand, suit at laar oc in equity, may be prosecuted as if all mo~ys secured hereby had- ~ matured pcia to its iastitution. The matg,~gee mey Eoreclose this mortgage. as to the amount so declared due and ; payable. and the seid premises shall be sold to satisfy and pay t6e same together wit6 costs, espenses,and allaw- ances. In case of partial foreclosure of this mortgage, the mortgaged premises s6a11 be sold subject to tMe con- tinuing liea of this mortgege fbr the amount af t6e debt not thea due and uapeid. Ia s~cch cese the provisions of ~ this peragraph may again be availed of thereafter fcom time to time by the mortgagee. 10. That the mortgagor will give immediate notice by mail to the modgagee of any coaveyance. transfer, a cbaage oE awaership of the ~emises. 11. That no waiver of aay covenant herein or of the obligation secured hereby shall st any time thereafter be held to be a waiver of the terms hered or of the note secured bereby. 12. That'if the mortgagor ~eTault in any of the covenants a ag~eements contained hereid, or in saia note, then the mortgagee may pedorm the samg. aad all expenditnres (including ress~able attocaey's fees) made by the mortgagee in so doing shall draw interest at the rate set fath ia the note secured hereby, and shall be repayable immediately and without demand by the mortgaga to the mortgagee, and, together arith interest end costs accruiag thereoa, shnll be secured by this modgage. 13. thet the mailing of e written notice a demaadaddressed to the o~vner of recocd of the mortgaged premises, or directed to the said awaer at the last address actually fnrnished to the matgegee. or directed to said owner at said mortg,aged pcemises, and mailed by the United States mails, shell be snfficient notice and demand in any cese arising under this iastrnment aad ceq~ired by the provisions hered or b~i laW. 14. The moctgagor covenants and agrees that so long as this mat~age ~ad the said note sec~ued bereby are insured uader the provisioas of the Nati~al Houaing Act, be wiU nd e:ecute or file foc record any iastrument which imposes a restriction upoa the sale or occupe~acy of the modg~aged propedy oa the basis oE race, color, or creed. Upon any viol~tioa of tbis undertsking. the matgagee may, at its option, declare the unpaid balance of the debt secared heceby immediately due and peyeble. 15. The modgagor further coveaants thet should this matgege and the aote secured hereby aot be eligible Eor insnraece uader the Natiooal Honsing Act within thirty days from the date hereof (written atatement of any officer oE the Depadment of Housing and Urban Development or auRhaized egent of the Secretary of Hous- ing end Urbaa Development dated subsequeat to the thirty days time fcom t6e dete of this mortgage, declining to insure said aote and this moctgage. being deemPd ca?clasive pcoof af snch iaeligibility), tbe moctga- gee-oc tht holder of tbe note may, at its optioa, declare all aums securzd hereby immediately due end payable. Tbe covenants herein coatained slwll bind, and t}~e beaefits and advaatages shall iaure to, the cespective heirs. executocs, edmiaistrators, saccessacs, and essigps oE the partiea hereto. Wheoever used, the singular num- ber shall include the plucal, the plural the singnlar, and the use of any geader shall inclnde all genders. - a~~~66 ~1252 - `~~~~P _ ~k ~ - - w - - - E~ ~ ~ .m. _ . _ e`v~