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Home My WebLink About1304 ~ ~ • ~f •1 • ~ r: ~r ~ . ~ . . S. 'i`hat he will pecmit. coa?mit. a suffec ao waste. impoiraieat, a deteric:ation of sald pcopeety or any p~rt tbereof; ~ad la the event of the failure af the a~oet~aga to keep tbe buildia~s on said premises aad those tobe erected on ssiid Premises. o~ impeovemeats :heceoa. Ia good rep~#r. the aatgagee may make such repeirs as ia its dlsce~etion it uwy deem aecessary fa tbe proper prese~vatioa tbcreaf. aad.the full amount of each ead every such p~ymeat sl~ll be ia~mediately due and pey~bls. aod shall be sec~ued by the liea oE this mortgage. ~ 6. That'M ivill pay atl and singnlar the casts. chacges. and expenses. including r~sonable lawyer's fees. and costs of abstrects of title. iacnrred a poid at aay time by t6e moct~a~ee because oE tbe failure on the part of the mort~aga promptly and fuUy to perEam the o~,ceemeats and coveaants of said pcaaiasory note and this mat- gage. and said costs. charges. and e:penses shell be Imaediately due aad poyeble aad shall be secuced by the liea cf t6ia ma~tgage. . 7. That he wiU keep the Improvemeats ao~ esistiag « here~fLer erected on the mo~tgpged pcopedy. insured as may be cequired from time to time by the moctgagce agaiast loss by fire gnd ot6er bssards. casaalties. and cbatin- geacies In such amounts aad for such pcrioda as may be requiced by matgagee. and ovill pay pro~nptly. whea due. any preaaiwos oa sucb iasuraace for paymeat oE which pcovision has aot beea made heceinbeEoce. All iasurance shall be carried ia compenies approved by mortgpgee ead the policiea aAd renewals theceoE shall be held by mat- gagee and have ettached theceto loss psyable clauses in favoc of and ia form-accepteble to the modgagee. Ia eveat of loas he will give imioediate notice by mail to mat~agee. aad aaortgagee mey awke proof of loss if not mede proa~ptly by a~ortgagoc. aad each insurance compaay coacemed is hereby authorised and directed to make psymeat fa sach loss dtrectly to mortgagee instead of to moctgagoc and mortgagee joiatly. and the iasurence p~o- ceeda, or any part theceof. m~y be applied by mortgegee at its optioa either to the reduction of the indebtedness hereby secured or to the restoc~tion a repair uf the property damaged. Ia event of foreclosure of this anortgage or ~other transfer of title to the mortgpged propecty in e:tiaguishn~ent of the indebtedness secuced hereby. all rig~t, tide, aad iaterest of the moctg,4gor in and to aay insurance policies thea in focce shall pess to the purchaser oc gcantee. 8. TF.at the matgagee_ may, at 4ay time pending a snit apoa this matgege. apply to the court having jurisdic- tioa thereaf for the appoiataieat of a receiver~ and such caut sball focthwith appoint a receiver of the premises covered hereby atl and singular. iacludiag all and siagnlar the income, pr~its. issues. ead cevenues from whatever source derived, each and every af ~vhich. it being exp~essly widerstood, is hereby modgaged as if specificaily set ' forth and described in the gcenting and habendum clauses hereof, and such receiver shall have all the broad aad effective fuactions and poaers ia anywise eatcusted by a court to a receiver, aad such appointment sball be made by snch couct as an admitted equity and a matter of absolute right to said mo~tgagee. and without refecence to the adeq~acy or inadequacy of the valae of -the propedy mortgaged or to the solvency cx iasolvency of seid mortgagoc ot the defendents, and that snch cents, pcofits. iacome. issaes, and revennes shall be applied by such receiver according to the lien of this matgage and the practice of snch conet. In the event of aay default on the pad of the modgagor hereuuder. the matgagoc agrees to pey to the matgagee on demand as a reasoaable monthly rental for the premises an amouat at least eqpivalent to oae-t~velfth (1/12) of the aggregate of the twelve monthly install- ments payable iQ tbe then cucrent yesr plas the actual amount of tbe annual taxes, assessments, water rates. and insucance preminma f~[ uch year aot covered by the afocesaid mo~thly peyments. 9. That (a1 ia tlie evbnt of any breac6 of this modgage or default on the pad of the modgagor, or (b) in the event that aay of seid suma of moaey herein reEerred to be nd proeptly and fully paid without demand or aotice, or (c) ia the event that each and~every the stipulatioas, egreemeats. co~ditions, aad covenoats oE said note end this mortgage, ace not~uly, promptly. aad fully per[ormed; tben in either or any snch event. the said aggreg,ate sam mentioned in~ said note thea remeiaing unpaid, vvith interest accrued to that time, and all naneys secured hereby, shall become due and payable Eorthaith, a thereafter. at the option of said matgagee. as fully and com- pletely as if all of tl~ s~id sams of money were originally stipulated to be paid on s~?ch day. anything in said note a in this modg,age to the coatrary notwitl~standing; and tt~reupoa or theceafter. at the opti~ of said matga- ~ gee. without notice or demand, suit at law oc ia equity. may be prosecuted as if all nwneys secured hereby had matured pria to its iostitution. T6e mortgagee may foreclose t6is mortgage. as to the amount so declared due and payable, and the said p:emises shall be sold to satisfy ancl pey~the same togetber with costs. expenses,aad allo~v- ances. In case of partial foceclosure of this moctgage, the matgaged premises shall be sold subject to the con- tinuing lien of this mortgage for the amount af the debt aot then due and unpaid. In such case the provisions of this paragraph may again be availed of theceafter from time to time by the mortgagee. 10. That the mortgag~ will give immediate aotice by mail to the modgagee of aay conveyance, transfer. or change of ownership of the.premises. 11. That ao waiver of any covenant herein oc of t~ obligation secnced hereby shall at any time thereafter be held to be a waivec of the terms hereof or of the note secured bereby. 12. T6et if the mortgagor default in any of the coveuants or agceements contained herein, or in said note, then the modg,agee may pedorm the same, snd all expenditures (~acluding reasonable attocney's Etts) made by the mortgagee ia so doiag s6a11 draw interest at tbe rate set fath ia the nde secured heceby. and shall be repayable immediately and withoat demand by the mortgegvc to the mortgagee, and, togetber with interest and costs accruing thereon, shall be secored by this moctgage. 13. that the mailing of a Wcitten notice a demandaddressed to the owner of rr~cord of the mortgaged premises. or directed to We said vwner at the laat address actually faraished to the mortgagee, or dieected to said avner at seid mortgaged premises, and meiled by tbe United States mails, shall be sufficient notice and demand in any case atising under t6is iastru~ent and ceqnir~d by the praviaians hereaf or by lew. E 14. Tbe matgagar covenants and ag~ees tMt so loog as this matgage and the said 'note secured hereby are ~ insnred under the provisioos of the Natioaal Ha~si~ Act. he ail~ ad e:ecute or file fa recocd any i~strument which imposes a restrictioa upoa tbe ~ale or occupaacy of the mortg,aged propedy on the basis of race, cola, or creed. Upoa aay violatian of this undectaki~, the martg,agee may, at its option, declare the unpaid balaace of the ~ debt seciued hereby immediately dne and ~yable. 15. ?he modgagor further coveaaats that should this mortgage eud the aote secured hereby not be eligible for insurance ander the National Housing Act within 3p DAYS from the date hereof (written statement of sny officer of the Departmeat of Honsing and Urb~n Develogment or authorized sgeat of the Secretary of Hons- ing and Urban Development dated aubseq~at to the 30~AYS time from tbe date of this matgage, declining to insure s~id nde and this aatg,~ge, being dee coaclusive pcoof af such iaeligibility), the mortga- gee er tbe bolder af the note may, at its optioo. declare all sums secured beceby iauoediately ~due and peyable. The coveaants hereia coatained slwll bind, aad the beaefib and advantages sLell iaure to, the respective beirs, executocs. eda~inistratocs, successas, and essigps af tbe padies hereto. Wheaeva used, the singulu aum- ber shail include the plnral, the plaral the siagnlar, aad tbe ose of any gertder sball inclode all gendecs. t - t ~ ~ f~~~ ' , . : - - ~c -