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Home My WebLink About1177 - ~ r:y , ~ j _ . . . ~ ~,i _ S, That he will permit. commit~ a auEfer no Mraste. impaicment. oc deterio~ation oE said propetty or any pprt thereof; and tr~ the event of the failure of the mo~tgagor to keep the buildings on said premises and those tobe erected oa said premises. or improvements thereon, in good repalr. tbe mortgagee may make auch cepalrs as in its discrotton it m~y deem necessary for the propet_presecvatioa thereof. aad the tull amount ot each aad eve~y such payment shall be immediately due and payabie. and shall be secured by the liea of tbia moctgoge. ' 6. That he wlll pey all aad siagular~the costa. charges. and expenses. including re:asoaabte tawyer's.fets. and costs of obstracts of title, incurccd a poid at any tlmt by the matga~ee because of the failure on the pert of the mortgago~ pwmptly aad fully to p~:fam the agreemeats and covenanb af said proauissory note and this moct- gage. and said costs, cha~ges. and expenses shall be immediately due and payable and shall be secured by the lien af this moctgage. 7: That he will keep the improvemepts aow exlsting or hereafter erccted on the moctgaged propedy. iasured aa may be [equired fwm tlme to time by the m«tgpgee against loss by fire end otleer I~uards. casualties, and contin- geecies ia auch aQwunts and for such perlods as awy be required by matgagee. aod ~rlll pay promptly, when due. any preiaiums oa sach insucance foc payment oE which provision has aot beea aiade bereinbefae. All insurance shall be caaied in companies approved by matg,9gee apd the policies and cenev~rals thereof shatl be held by mort- gagee and have attached theeeto loss peyabte clanses in fav.o~ of and in form acceptable to tl~e mortgagee. In event of toss he will give immediatc notice by mail to moitgegee, and mortgagee a~e?y aiake pcoof of loss if not made promptly by moctgega, and each insurance company concemed is l~ereby authociaed and d'uected to make payment for such loss directly to mortgagee instead of to mortgagoc and matgagee jointly, aad the insurance pro- ceeds. or aay :part thereof~ may be applied by mortgagee at its optioa either to ti~e reduction of the indebtedceess hereby secured or to the restocatioa at repair oE tl~e property damaged. ln event of foreclo~ure oE this mortgage o~ other transEer of tltle to the moetgaged pcopedy in extinguishmeqt af i1KS indebtedness secured hereby. all right, title, and inte~est of the mortgaga in and to any insurance policiea thea in face shell•pass to the purchaser ar grantee. ~ . 8. That the mortgagee may, at any time pe~?ding a suit npon this matgage. apply to•t6e coart having jurisdic= ~ tion thereaf Ea the sppoiatmeat of a receiver. and such court sball forthwith appoiat a receiver ef t6e pcemises covered Lereby all and siaguler, includiag all and singular the iacome. profits. issues. aad reveaues from whatever source derived. each and every of which, it being expeessly understood. is hereby matgaged as if spec~fically set fodh and described in the gcanting and habeadum ciauses hereo~,- and anch ieceivershalt have a!t tl~t brond and effective functioas and povvers in anywise eetrasted by a court to a receiver, and auch eppoiatmeat shall be made by s~h court as an admitted equity and a matter d absolute rig6t to said matg,ugee, and without reference to the adequacy oc inadequacy of the value of the propecty mortgaged or.to the solvency a insolvency of said mortgagoc or the def~eadents. and that such rents, profits. incomg, issues, ead ~eveaues shell be applied by such receiver. eccocding to_the lien of this enortgage and the practice of such couet. In the~event of any default on the pert of the mortgagor hrreunder. the matgagor agrees to pay to the moetgagee oa demand as o reasonabte moathly cental for - We premises an ~mount at least'eqvivalent to one-t~velfth (1l12) of the aggregpte of the t~velve eontblyinstall- ments payable ia the thea carreat year plus tl~e acte~al amount of the annual tanes. asses~eents. aater rates. aad inaurw~ce qemi~.for such year not covered by the afoc~esaid moathly paymenta. 9. That (o~ in the event of aay bceach af this mortgage or defaalt aa tbe port a[ tbe matg,agoc, or (b) in the eveat thai aep:of-said sums of money hereiA referred to be not promptly and fully peid ~rit6out demand or aotice. or (c) in the event that each. and every the stipulations. egceements. conditions, and covenants of said aote and this matgage. are not duly, promptly. and fully performed; thea in either oc aay snch event, the said aggr~gate ` sum mentioned in said note t6en ~emaining uapaid, with interest aecr~ed to tleat time, and all moneys secured hereby, shatl become due and payable forthwith, or thereaker, st the option of said matgagee, as fnlly end com- pletely as if all of the said. sums of money vvere originally stipuleted to be peid on such day, anything ia said note oc in this modgage to the contrary notwithstanding; and thereupon or tTiereafter, at the option of said moctga- gee, aithont notice or demand. suit at Iaw a in eqnity. may be prasecuted as if all moneys secured hereby had matured prior to its iastitution. Tl~e mortgagee may foreclose tbis matgage, as to the amount so declared due and payable, and the said pcemises shell be sold to satisfy aad pey the same together with costs, e:penses,and allaw- ances. In case of pertial foreclosure of this mortgage, the mortgaged pcemises shall be sold subject to the con- tiauing lien of this aartgege for the amount d t6e debt not then due and un~id. In such case the provisions of this peragraph may egain be avai~ed of t6ereafter from time to time by the mortgagee. - ' 10. That the mortgagor will. give immediate notice by mail to the modg,agee of any conveyance, transfer, or change of, awnership of the premises. . 11. That no waiver of any covenant herein a of the obligation secuced hereby shall at any time thereafter be held to be a waiver of the terms hered or of the note secu~ed 4ereby. ' 12. TGat if the matgagor default in any oE the covenants a agreements contained herein~ o~ in said nde, then ' the modgegee may pedorm the samg, and all expenditures (iacluding reasonable attaaey's fees) made by the ! modgagee ia so doing shall draw iaterest at the rate set forth in the note secured hereby, and shall be tepayable immediately a~d without demand by the matgaga to the modgagee. and, together with interest and costs accruing i there~n, shall be sec:ued by this mortgage. I 13. tbst fhe mailing of a written notice or demendaddressed to tbe owner of record of the mortgaged premises, ~ or directed to the said orvner at the last addcess actually furnished to the mortgagee, or directed to said o7vner at said modgaged premises, and mailed by the United States mails, shall be sofficient notice and demaad in any ; case arisiag under t6is instrument and required by the provisioas hereof or by law. . 14. The mortgaga coveaants aad agcees that so long as this matg,ege sad the said note stcured bereby are iasuced under tbe provisions of the National Housing Act~ he will not execute or file for record ~ny instrument which imposes a restriction upon the sale a occupancy of tlie modg~ged pxopedy o~ the basis of race. coloc, or creed. Upon any yiolati~n of this undertaking. the mortg,aeee may, at itc option, declare the unpaid balence of t6e debt secured hereby immediately due and payable. ' 15. The mortgagor fiuther covenants thet should this mortgage and the note secured hereby not be eligible for insurance qadec. the Natia~al Housing Act_ vqithin . 60 d~a fr~ the date hereof (written statement oE any oEficer of the Depadment of Housing and Urban Developmeat ot authocized agent of the Secretery of Hous- ing and Urban D~v_elopment dated subgequent to th~ ~p ~ time from the date of this modgage, decliniag to insure said ade~and this mortgage, being deemPd cuaclusive proof of such ineligibitity), tbe mortga- gee a the holder af the note mey, at its option, declare all sums secured bereby immediately dee and payable. The covenants hecein contained shall biad, and the beaefits acd edvantages shall inure to, tbe respective heics, executocs. administretors, successors, and assigns uE the pacties luereto. Whenever used, tbe singular num- i ber shall include the plural, the plural the singular, and tbe use of aay gender sball iaclnde all genders. I ~ ~ _ ~ ; ; a~x1~8 P~1~.'74 ~ -i ~ _ - - _ _ , ~--------r- _ _ . . _ _..w _ -