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Home My WebLink About0864 ~ t ~ . y " ~ ,wr.~~~~aA•.~~•~• • ~.I y ~ • . 5. 'fhat he vvlll permtt. commit, or suffei no waste~ impoirmcat. a deteriaatian of said property or aay paet thereof; and ia the eveat af tbe iailure of the mortgagor to keep the buildings oa said pnmises and those tobe ecccted on said premises. or impcovemeats thenon. ia good cepafr, we m«e~gee owy awke such c~~irs aa tn ~a discretioa it may deeea necessuy fa tbe pcoper preservatioa theteaf, aad tl~e Eull amount oE each sed every such paya~eat shell be I~atnediately due aad payable. and shall be secuced by the liea af this aactgage. 6. That he will pay all and siagular tbe costs. cl~ar~es. aed e:peases. tacluding ceasoaable lawyer's fees. aad costa of abstcects of title~ incurred a patd at any time by t6e moctg~gee~ beceuse of the failuce an the part aE ~ the mort~aga pcomptly aad Eully to perfo~ea the ~greements aad coveaaats oE said promissory note and this mort- gage, aad said costs. charges. and expensea ahall be iaamediately due aad payable and shell be secured by the lien af this mortgage. ~ ~ 7. That he wlll keep the improvemeats aow existiag a 6ereafter erected on the asorigaged pcopedy.`iasured as may be required from time to time by the matgagee egaiust loss by fire aad other lwsuds. casualties, aad coatin- geacies in such :mounts aad foc such periods ss may be required by matgagee. aad Nill pay promptly. when due, any premiuu~ on such insurance for payment of wbich provision has aot been made hereinbefae. All insacancc shall be canied in compa~ies appcoved by matg,egee and the pol~ies aad renevvals t6ereof shall be held by mat- gagee aad have attaChed thereto loss payable clauses in Eava~ of aad ia torm acceptable to tha modg,agee. Ia event of loss he ~will give immediate notice by mail to matg~agee, and mortgagee may meloe proof of loss if not made promptly by mo~tgag~, and each i~suraace compeay conceraed is heceby authaised aad d'uected to make payment for such lo~s directly to modgagee instead of to mortg,agac and matgagee joiatly. and the insurance pro- ceeds. or any p~t thereof, m~y be applied by mortgagee at its option either to tbe reduction of the indebtedaess hereby secured or to the cestocation or repair ef the pcopetty damaged. In eveat of faeclosure of this moctgage o~ other transfer of title to the mortgaged propedy in extingnishment af tha it~debtedness aecured hereby, ell right. title. and interest of the matgaga in at~d to any inswance policies~thea in force shall pess to the purchaser a g~aatee. . 8. That the mortgagee may, at any tia~e pending a suit upoa this matgage. apply to the conrt haviag jurisdic- ~ tion tbeceof fa the appointmeat oE a receiver. aad snch court shall fathwith appoiat a receiver of the premises covered heceby aU aad siagular. iacludiag all and singular the income, profits. issues, end revenues from whetever source derived. each and every of ~r6ich, it being expcessly understood, is hereby moctgaged as if specifically set forth aad desccibed i~ the granting and habendum clauses heceof. aad such ceceiver shall have ell the broad and , effective functions aad powers in anywise eatrusted by a caut to a receiver. and sucs6 appoiatment shall be made by such court as an admitted equity and a matter of absolute right to said matgagee. and without reference to t6e - adequacy or inadequacy of the value of the propedy mortgaged or to the solvency or insolvency of said mortgagor or the defeadents, aad that such rents, profits. income, issues, aad cevenues shall be applied by such receiver according to t6e lien of tbis mortgage and the practice of such court. ln tbe event of aay default oa the pert of the mortgagor hereunder. the matgagor agrees to pay to t6e mortgagee oa demand as a reasoaable monthly rental for the premises an amount at least eqpivalent to one-twelfth (1/12) of the aggceg~te af the twelve meathly install- ments payable in the then current year plus the actual ama~nt of t6e aanuel tases. essessmeats, water rates. aad insurance premiums for such year aot covered by the aforesaid moathly peyments. ' 9. That (a) in the event oE aay bteach of this modgage or default oa the part of the modgagor, a~~b) in the event that aay of said sums of maney herein referred to be not promptly aod fnlly poid without demand or notice, or (c) in the event that each and every t6e stipu:ations, agreemeats, conditioos, and covenants of said aote aad this modgage~ are not duly. promptly, and fully pedormed; thea in either oc aay such eveat, the said aggregate sum mentioned ia said note then remaining unpaid, with interest accrued to that time, and all moaeys secured hereby, shall become due and payable focthwith, oc thereafter, at the option of seid moctgagee, as fully and com- pletely as if all of ~the said sums of money were originally stipnlated to be paid m such day, anything in said note or in this modgage to the contrery notwit6standing; aad thereupon oc thereafter, et the option of said mactga- gee, without notice or demand, sait at law or in eq~ity, may be prosec~eted as if all oaneys secuced hereby had _ matured pcior to its institution. The mortg,agee may foreclose this mortgage. as to the amount so declared due and payable, snd the said pcemises shall be sold to satisfy and pay the same together with costs. eapenses,and allaw- ances. In case of partial foceclosnre oE this mortgage. the moctgaged premises shall be sold subject to the con- ! tinuing lien of thia mortgage fac..the amouat of the debt not thea dne and unpaid. In snch case the provisions of ~ this peragraph may again ~e availea of thereafter from time to time by the matgagee. - 10. That the mortg,egor will give immediate notice by mail to the neortgagee of aay conveyance~ transfer, or change of ovvnership of the premises. 11. That eo waiver of aay covenant herein or of the obligation secnced hereby s6a11 st any time theceafter be held to be a waiver of the terms hered or of the note secured hereby. 12. That if the matgagor default in any of the coveaants ar agceements contained hereia, or in said note, then the mortgagee may perfor~s the same, and all expenditures (including reasonable attorney's fees) made by the mortgagee in so doing shall drarv interest at the rate set focth in the note secured bereby, aad shall be repayable immediately and without demand by the mortgago~ to the modgagee, and. together with iaterest and costs acccuing thereoa, shall be secur@d by this modgs~ge: ~ ~ 13. that the;mailing of a written notice a demandaddressed to the owner of recad of the mortgaged premises, or directed to the seid oaner at the last address actually furnished to the moctgagee, or directed to said awuer at said awitg,aged premises. and mailed by the United States mails, shall be safficient aotice and demand in any - case arising under t!?is instrument and required by the provisions hereof a bq la~v. 14. The mortgagor covenants and agrees that so loag as this natg,age aad the said note secured hereby ere insured under the provisions of tLe National Housing Act, be aill ad ezecute ar file for record any instrument whic6 ir+~poses a restriction npon tbe sale a occupency oE the moctpged propedy on the basis of race. coloc, a ~ creed. Upon any violF+:ioa of t6is uadertaku~g, the malgpgee may, at its option, declare the unpaid balance of the debt secured henby immediately due aad payable. . 15. The mortgagor f~utber covenants that shouW this mat~age and the aote secured hereby aot be eligible for insuraace uader the Natiooal Housing Act within '~1='~1 ~s from the date henof (vinitten statement of any officer of ihe Department of Housing aad Urban Develop~ent or a~horiaed agent af the Secretery of Hous- ing and Ucban Development dated subseq~nt to the ~T! time fcom the date of this mortgage, declining to insure said nde aad this mortgage, being deemed conclnsive proof of such ineligibility), the mortga- gee or the holder af the note may. at its optioa, declare all snms seci~ced herebq immediately due and payable. The coveneats herein contained shall bind, and the beuefits and advantages shall iaure to, the respective heira, executas, administratas, saccesaas, and assigna d the puti~s hereto. Wbenever used. t6e singular num- ber sball include the plnrr+l, the plnral tbe singnlar, and the nae ot any ~eader shall iaclude all geoders. ~ ~ • ~ • , _ _ . ; - - , ~ . ~