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Home My WebLink About1794 ' , ~ ~ ) (1~ . : , ~ ~ ~ S. Tbat he wlll permlt, comaut. a sufEer ao waste. imQeirmeat, or deteriaatioa oE sald property or aay part the~eof; and In the eveat oE the failure of the mortgagoc to keep the? buildtaea oa said pcemises aad tlwse tobe erected on said premises. or iepcovemeats tbe~eoa. ia good ~ep~~r. the modgagee awy make sucb cepairs as ia its diecretion it awy deem necessuy for the pcoper preserv~tla~ therecf. and the full amouat of eacb and every sucb payme~t slwll be Immediately due ~nd payable, and shall be secured by the llea af this mortgage. 6. Th~t he will pay all aad slagulor the costs. charges. and expeases. includiag ceasaaable lawyec's Eees. aad costs of abstncts oE title~ iacurred a poid at aay time by the matga~ee becouse of tbe tailuce oa the p4rt af the matgaga ptaaptty aad tully to perfaa~ tbe agreements and covenaats d sald p~omtssory note and t6ls mort- goge. and said costs. cf~arges. oud espenses shs~ll be immediately due aad poyable and sball be secured by the lien d this wo~tgage. 7: That he will keep the impcovemeats aow existing a hereafter erected oa the matgaged p~opedy. iaaured as , may be cequiced from time to time by the matgagee agaiast losa by fire and other hasuds. casualties, aad coatia- gencies ia such amounts aad Eor such periods as inay be requtred by matgege~e. aad will poy pmmptly, ahen dne, any pcemiums on sucb iasuraace for payment of whic6 pcovlsioa has aot beaa m~de hereinbefoce. All iasurance shall be canied ia compaaies approved by moctg,agee and t6e policies and renewals thereof slwll be held by mat- gagee ead have atteched thereto loss poyable clauses ia Eevar of aad ia fam acceptable to the mortgpgce. Ia eveat of loss he aill give immediate aotice by mail to matgpgee. aad mortgagee may maloe pcoof of loss lf not made promptly by mortgaga, and each iasurance compeny ca~cemed is -heceby authorlsed and directed to make paymeat fa such loss dicectly to matgagee iastead of to mortgega~ and moctgagee jointly. and the iaauraace pro- ceeds. oc aay part theceof. may bc applied by moctgagee at its optioa either to the reduction of the iadebtedaess hereby secaced or to the restQratioa a repeir af tl~e propecty damaged. In eveat d foreci~ure af this mortgage or othec tcaasfer of tltle to the noetg,aged propedy in e:tiagufshment d the iadebtedneus secured heceby. all right. title, ~~d interest af the matgpga ia and to any insurance .policies thee ia focce shall•pess to the purchaser a gRaatee. 8. That the matgagee may, at aay time pepding a snit upon this matg,age, apply to the court heviag jurisdic- tion thered fo~ t6e appoiatment af a receiver. and such caut shall forthwith appoiat a receiver of the premises covered heceby all and singulu. inclndiag all and singular the iacome, prafits, issues. and reveaues from ~vhatever source derived, each and every of which. it being e:pcessly uaderstood. is hereby mat~aged as if specifically set fodh and described in t6e grantiag aad habendum clauses hereof, aad snch ceceivet sl~all have all the broad and effective fuactioas aad powecs ia aaywise eatrusted by a coart to a receiver. aad such appointmeat shall be made by such cou~t as an admitted equity ead a matter of absolute right to seid matgagee, aad without reference to the adequscy oc inadequacy of the valae of the propedy matgaged or to the solveacy os iasolveacy of said mortgsga or the defendeats. and that such reats, pcofits, iacome. issues, and reveaues sball be applied by snch receiver accocding to the lien of this matgage aad the pcactice of such caut. la t6e eveat af eny default on the part of the modgagor bereunder, the mcctgagor agrees to pay to the mortg~agee on demaad as a reasoaabk monthly rental for the pc~mises an amonnt at least equiveleat to one-twelfth (1/12) oE the aggreg~te af tLe trvelve moqthly iustall- meats payable:in the then cQrrent year plus t6e actual amount af the aaanal.tazes, assessaients. ~vater cates. ead iasuraace premiums for such year aot covered by the afocesaid monthly peyments. 9. That (a) ia tUe eveat of aay bceach of this awdgage or deEanlt on tbe ~aet oE t6e mmtg,agor, or (b) ia the event that ady oE said sums oE moaey hereia referred to be aot promptly aad fdly paid wit6out demead or notice, or (e1 in tbe eveat tbat each and every the stipulatioas. ag~eements, conditians. and covenants of seid note aad 4 this mateage, are ad duly, promptly, aad fully performed;- then ia either or any snch event, the said agg,~egate sum mentioced ia said aote thea remaining unpaid. with interest accrned to that time. and all moneys secnc~ed 6ereby. shall become due and payable :cxthwith, or thereafter, et the option of said matgagee, as fully and com- ~ pletely as~ if sll of the said sums of money were origiaally stipulated to be peid oa such day, anything in said note or in this modgage to the contrary aotwfthsta~ing; aad tbereupon o: thereafter, at the optioa af said matga- ~ gee, without notice or demand, suit at la~v or in eqnity, may be prosecuted as if all mone~rs sec~red hereby had ~ matuced pcior to its institutioa. The mort~agee may forecla~e this matgage, as to the artwunt so declared dne and ~ payable, and the said premises shall be sold to satisfy end pay the same together with costs. e:peases,and allow- ances. Ia case of pertial foreclo~ure of this mottgage, We matgaged premises shall be sold subject to the con- tiauieg liea of this matgage Eac the amow~t af the debt not then due aad uapaid. Ia s~ch case the pcovisions of ~ this paragraph may agaia be availed af theresher from time to time by the mortg,agee. 10. Tfiat the matgagor will give in?mediate notice by mail to the mortg,agee oE aay coaveyence, transfer, a change of awaersbip of the premises. 11. That no waiver ot any coveaant herein o~ of t6e obligatioa secnred hereby shall at any time thereafter be held to be a waiver of the tecros heceaE or of the note secured beceby. 12. T6st if the matgagor default in any of the covenants or agreements contained hereia. oc ia said note. thea the mort~agee may pedorm the samg, aad all expendit~res (including reasoaable attaaey's fees) made by the rnodgagee in so doiag shall draw interest at the rate set fath in the aote secured hereby, aad shall be reQeyeble immediately and ~vithout demand hy the moctgagor to tl~e matgagee. and, together with interest and costs eccraing thereon, shall be secuced by this modg,oge. 13. that the mailing of a~vritten notice a demandaddressed to tbe owner of recocd of the mortgaged premises, oc directed to the said awner at the lest address ectnaUy furnished to t6e matg,agee, or directed to said avner at said ~tg,aged premises, aAd mailed by tbe United States mails,_shell be sufficient aotice aad demand in any case arising under this iosiniment and cequired by the provisiaas heceaf oc by la~v. 14. T6e mortgagor coveoants aad agcees tl~t so loag as this matg,age ~nd the said aote sec~ucd hereby are insured under tbe provisioos of the Natioaal Housing Act, he will nd e:ecnte or file foc cecord any iastrumeat which imposes a restrictiop npon the sale a occnpancy of the mort~aged pcopedy oa the basis of race. cola, oc cceed. Vpoa aay violafioo of this nadertalciag, the matgagee moy, at its o~tion, declare the ~wpaid balance of the debt secored hereby immediately due and payable. e 15. 1be mortgagor fnrther covenants that should tl~is m age and tbe note secuced hereby not be eligible foc insursnce nndec the Natiaaal Housing Act within ~ from the date 6eceaf (written statement of ony officer of the Depaetment ef Honsiag aad Urban Development a a~horized ageat of tbe Secretary of Hous- ing and Urban Developmeat dated subsequeat to the ~ Q/~Y$ time from tbe date d this matgpge, declining to insuce said note and this oatg,age, being deemPd conclnsive proof aE sach inelig~bilih?). the mortga- gee oc t6e ho~der oE the aote may. at its optiao. declare all smos secnced bereby ime~edi~telq dne aad p~yablc. ' T6e coveaants bereia coataiaed shs~ll bind, aad t6e beaefits aad advant~es shall inure to, the respective heia, ezecntas, administratoca, snccessas, and assi~ns d the partks hereto. Nhenever used, tbe singnlar ano- ber shall iaclude t6e plaral. t6e plural tUe singular, and the use oE any gender sball iaclude all gendecs. ;~168 ~~789 _ _ _ . . _ _ r