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Home My WebLink About0216 ~ = t~ . S. That he will permit. commit. or suffer no waste. impeirmeat, o~ deterioration of said propedy or any-pprt thereof; and in the event of the failure of the mott~a~or to keep t4e buildiags on seid premises and tho~e tobe erected on said premises. or improvements thereai, In good repsir.'the mortgagee may make such repeirs as ia its discretion it aaay deem necessary for the pcoper presenration thereoE. and the full amount of eacb aad evecy such payment shall be immediately due aad payable. and shall be secured by the lien of this mortgage. 6. That he will pay all and sl~gulet the costs. chatges. and eYpenses, inCiuoing t~eusoaaoie iuwyr~'s iees. a~d costs of abstracts of title. incucred oc peid at aay time by the mortgagee because of the failure on the part of the mortgagoc promptly and fully to perfa~m the agreements and covenants of said pcomissory note and this mat- gage. and said costs. ctsarges. and expenses shall be immediately due ead payable and shall be secured by the lien af this aoo~tgage. . 7. That he aill keep the imFrovements now exiatiag or heceafter etected oa N~ mortgaged pcopeety. iasured as may be required fmm tiaie to time by the matgagee against loss by fire end o~her hazerds, casualties. and coatia- gencies ia such amounts a~d for such periods as may be required by moetgagee, aad will pay pwmptly, when due. any preauuu~s o~ such iasureace for payment of which provision bas aot beea made hereiabefae. All iasuraace shall be carried in companies approved by matgagee end the policies and renewals theceof shall be held by mart- gagee aad have ettached thereto loss peyable clanses ia favor of and in form acceptable to the mortgagee. In event of loss he will give immediate aotice by meil to moctg,sgee, and mortgagee may make proof of loss if not made promptly by matgagor, and each iasurance compeny coacemed is hereby suthocized and directed to make payment f~ snch loss directly to mortgagee instead of to matgaga and mactgagee jointly. and the insurance pro- ceeds, or aAy Qart thereof, may be applied by mactgagee at its optioa either to the reduction of the indebtedaess heceby secnred or to the restoration ac repair o~ the propedy damaged. Ia event ~ Eorecla~ure of this maet~ge or other tcansfer of title to the mortg~ged propedy in e:tiaguishmeat of the indebtedness secured hereby, all right, t?tle, and intecest of the matgagac ia aad to aay insurance policies then in face shall pess to the purchaser oc grantee. 8. That the matgegee mey. at aay time peading a suit upon this moctgage. apply to the conrt haviog jncisdic- tion theceaf foc the appoint~nent of a receiver, and such caut shall forthaith appoint a receiver of the premises covered hereby all aad singular, iacluding all and siagular the income. profits. issues. and ceveaues from whatever source derived. each and every of which, it being eapressly naderstood, is hereby modgaged as if speciEicelly set fodh and described ia the gcaatiag aad hebendum clauses bereof. and such receiver shall have all the broed aad efEective functians and poarecs in anywise eatrusted by a court to a receiver. aad such appoiatmeat shall be made _ by such cwut as aa admitted equity and a metter of absolute right to said mortgagee. and without reference to the adequacy or iaadequacy of the value of the propedy matgaged or to the solveacy or insolvency of said matgagoc or the defendents, aad that such reats, profits, income, issues. aad revenues shall be applied by such receiver accocding to the lien of this mortgage and the practice of such court. In t6e event of any default oa the peet of the modgagor heceunder. the mortgagoc agrees to pay to the mortgagee on demand as a reasoaeble monthly rental for . the premises an amount et least eqnivalent to oae-twelfth (1/12) of the aggreg,ate ~ the tarelve monthlq install- meats peyable in the thea current year plus t6e actual amount of the annual t~es, assessments~ water rates, and insucance premiums for such year aot covered by the afocesaid monthly peymeats. • 9. That (o) ia the eveat of any breac6 of this mortgage or default on the ped of the mortgagor, or (b) in the eveat that any of said sums of money herein referred to be aot promptly aad fully paid aithout demand or aotice, , - or (c) in the event that each aad every the stipulations, agreements. coaditioas, aad cove~aats of said aote and this moctgage, ere aat duly. promptly, aad fully performed; then ia either or aoy such event, the said aggFegate sum mentioaed in said note then remaining tinpaid. aith iatecest accrued to that time, and ell moneys secured hereby. shall become due and payabte forthwith, a thereaker, at tbe option of said mortgagee, as fully and com- pletely as if all of the said sums of money were origiaally stipulated to be paid on such day, enything in said ~ aote oc in t6is mo~tgage to the contracy ndwithstandiag; aad theceupon or thereafter. at the option of said matge- gee, without notice or demaad. suit at law a in equity. may be prosecuted es if all moneys secured hereby had ~ matuced pria to its iastitution. '~'6e mortg,agee'a~ay foreclose this mortgage. as to the aawunt so declared dne and ~ payable, and tl~e said premises shall be sold to satisfy and pey the same together with costs, e:peases,and allow- ances. In case of partial forecla~ure of this moctgage, the moctgaged premises shall be sold subject to the con- tinuing lien of this mortgage fac the amount of th~ debt not tben due and unpaid. in such case the provisioas of this paragraph may ag,ein be availed of thereafter from time to time by the mortgagee. 10. Thet the mortgagor will give immediate notice by mail to the modgagee of any conveyance, transfer, a change of awnership of tLe pcemises. 11. That no waiver of any coveAant herein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of thg terms hered or of the aote secnred hereby. 12. Ths~t iE t6e awrtgagor default in any of the covenants or agreements contained herein. oc ia said note, then the mortgagee may pedocm the same, and all expenditures (inclnding reasonable ettaaey's fees) made by the mortgagee in so doiag shall draw interest at the rate set fath in ihe note secured heceby, and shall be repayable immediately and without demand by the mortgagor to the mortgagee, and. together with interest and costs accruing ' thereoa,shall be;sectued by this mortgage. , ; 13. that the mailing of a Written notice or demsndaddcessed to the owner of record of the mortgaged pcemises, or directed to the said ow~r at the last address actually fnrnished to the modgagee, or directed to said oqvner at said 'mwtg,eged premises, and mailed by the United States. mails, shall be sufficient notice and demend in any ~ case acising under this instrument and required by'the provisions heceof oc by law. ' ~ 14. The modgagoc covenants and agcee's tbat so tong as this mortgage sad the said note secured hereby ere ~ insured under the provisioas of the National Nonsing Act, he will not execute or file for recocd any instrument ~ Which impaees a cestriction upon the sale or occupancy of the mortgaaged propedy on the basis of race, cola, or creed. Upa~ any violatiaa of this undertaking, the mortgagee may, at its option, declare the anpaid balance of the debt sec~red hereby immediately due and payable. 15. The mortgagor further coveaants that shouid this mortgage and the note secured hereby not be eligible foc insiuance under the Natiooal Housing Act within ZLirty D~~ froo~ tGe date hereof (vrritten statemeat of aay ofEicer of the Depertmeat of Housing sud Urbaa DeveloQmeat or euthorized agent of the Seccetary of Hous- ing aad Urban Development dated subsequeat to tbe ~it~t~ D~! time fcom the date of this mortgage, ~ declining to ias~ue said nde and t6is mortgage, being deem~d coaclnsive pcoof of such ineligibility), t6e moctga- gee uc the holder af the note mey, at its option, declare all sums secured bereby immediately due and payable. ~ The covenants hecein contained shall bind, and the benefits and advantages shall innre to, the respective ~ heirs, executas, administrators, successocs, and assigns d the perties 6ereto. Whenever used, the siaguler num- ber s6alt inclnde the plural, the plural the singalar, and t6e use of any gender shall include sll genders. 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