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Home My WebLink About2417 ~ ~ _ ` ' ' ~ . . ; _ _ ~ S. Tlwt he will permit. commit, or suffer ao waste. imp4irmeat, a deteriotation of said pcoperty ot aay pad the~eoE; •nd ia the event of the failure af tl~e moctas~or to keep the buildiags on said premises and t6ose tobe erected oa said pceaises. or impcovemeats tbeeeoa, in ~ood eepa~r. tl~e matga~ee awy make sucb repeirs es ia its disccetioa it may'deem necessary fa the pcoper presecvatioa tbecraf, aad the [ull amount oE eacb aad every such p~yment sh~ll be imaiediately due aad poyroble. aad shap be sec~ced by the llea of this mortgage. ~ _ 6. That he will pay all and siagular t6e casts. charges. aad expens~s, iucludia~ reasonable lawyer's fees, and costs of abstracts of title. incurred o~ paid ~t any time by the matgogee because of the hilure oa the part oE the mort~agc~c pcomptly aad fully to perfcxm tbe agceemeats aad covenanta of said promissory nate and this moct- gage. and said costs, chocges. and expeases s1w11 be immediately due aad poyable and shall be secured by the liea af this ~oortgag~. 7. That he will keep the impro~vemeats aow existing a heceafter ecected oa the matgaged propeety, insured as wAy be cequiced from time to time by the matgsgee against loss by. fice and other hasards, casualties, and cQntia- geacies in such amounts aad for such pe~iods as may be eequired by mortgagee, and will pay promptly. when due. any premiuas on such insuraace for peya~eat of which provision hes aot been made beceinbefore. All insucaace shall be canied in companies approved by matg,agee and the policies aad renearals thereof shall be held by mat- gagee and have attached thereto loss peyable clauses in favo~ of aad in form acceptable to tbe mortg,agee. in event of loss he aill give immediate aotice by mail to mortg~agee. a~d mortgagee may awke pcoof of loss if not made promptly by mortgaga, and each insuraace compaay coacecaed is heteby suthaised and d'uected to make payment for such loss directly to mortgagee iastead of to moctgaga aad matgagee jointly. at~d the insurance pro- ceeds. or any part thereoE. may be epplled by mcrtgagee at its optioa either to the redactian of the~ iadebtedness hereby secuced oc to the cestocatian or repair of the property damaged. Ia event oE foreclosure of this modgage oc other tcansfer of title to the modgaged prope~ty in extinguishment of the indebtedness secured bereby. all right. title, and interest of the matg~gar in aad to aay iasuraace policies then in face shell pass to the purchaser ot grontee. 8. That the aroctgrrgee mey, at any time pendiag a suit upon this mortgage. apply to the court l~aving jurisdic- tion thereaf for the appointment of a receive;, aad such court shall forthwith appoint a receiver of the premises covered hereby all a~ singular, iacludiag all and singular the income. proEits. issues. aad ceveaues from arhatever source derived. each and every oE which. it beiag expcessly undecstood, is hereby modgaged as if specifically set fodh and described in the gcanting aad habendum clauses hereof. and such receiver shall have all the broed and effective functions and povvers in anyavise eatcusted by a court to a ceceiver, and such appointment shall be made by such court as an admitted equity and a matter oE absolute right to said mortg,agee; aad arithout refereace to the adequscy or inadequacy of the value of the propedy mortgeged or to the solvency oc insolvency of said mortgagoc or the defendents, and that such cents. profits, income, issnes, aad revenues shall be applied by such •receiver according to the lien of this matgage and the prectice of snch caut. In the event of aay default on the part of the mortgagor hereunder, the mortgago~ agcees to pay to the mo~tg~agee on demand as a reasonable monthly rental for the premises an amount aR ~least eqµivaleat to oae-twelfth (1/12) of the aggregate of the twelve monthly install- ments payable in the then curreat year plus the actual amount of the annual taxes. assessments. water rates. and insuiance premiums for such year not covered by t6e aforesaid monthly peymeats. 9. That (a) in the eveat of any breach of this modgage or default m the p~d of the modgagor, oc (6) in the eveat that any of said sums of money herein referred to be not promptly and fully paid without demand or notice, or (c) ia the event that each aad every the stipulations. agreements, conditions, and coveaants of said note and this mortgage, are not duly, promptly; and fully performed; thea in either or any sach event~ the seid aggregate ' sum mentioned in said note thea remaining unQaid, with iate[est accroed to that time, and all moneys secnred hereby, shall become due and payable forthwith, a thereaker, at the option of said mortgagee, as fully and coar pletely as if all of the said sums of money were originally stipuleted to be paid on such dey. anything ia said note or in this modgage to the contrary ndwithstanding; and thereupo~ or thereafter, et the option of said mactga- gee. without notice or demand~ suit at law or in equity, may be prosecuted as if all moneys secured hereby had matured ~xior to its iastitution. The mort~egee may foreclose this mortgage, as to the amount so declared due aad payable, and the said premises shall be sold to satisfy and pay the same together with costs. expenses.and allorv- € ances. In case of partial foreclosuce ~ this matg,age, the moctgaged premises shall be soW subject to the con- ~ tinuiag lien of this mortgage for the amount of the debt not then due and unpaid. Ia such case the provisions of this peragraph may again be availed of t6ereafter from time to time by the mortgagee. 10. That the modgagor will give immediate aotice by mail to the mortgagee of any conveyance, transfer, or change of awnersbip of the premises. 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the te~ms hered or of the aote secuced heceby. , 12. T[~at if the mortgagor default in any of the covenants ot agreements contained hereia, or in said note. then the modgagee may pecform the same, and all eapenditnres (including reasoneble attorney's fees) made by the modgagee in so doing shall draw interest at the rate set fath in t6e note secured hereby, aad shall be repayable immediately and withovt demaad by the mortgagor to the mortgagee, and, together with interest and costs accruing thereoa. shell be secured by Wis modg,age. 13. that the mailing of a written notice or demandaddressed to the aqvaer of record of the mortgaged premises, or directed to the said owner at the last address actnally fornished to the modgagee. or directed to said owner at _ said modgeged prep~ises, and mailed by the United States mails. shall be sufficient notice and demaad in any case arising nnder this instrumenf and required by the pcovisions hereof or by law. 14. The mortgaga covenants and agrees that so long as this mortgage and the seid note secured hereby are insuced under the provisioas of the National Housing Act, he will not execute or file for record aay iastrument ~ which imposes a cestrictioa upon the sale or occupancy of the mwtg,aged property on the basis of race. color, or ~ creed. Upoa eny viblation of t6is uaderteku~g, the roatg,agee may. at its option, declare the unpeid balaace of the debt secnced hereby immediately due and payable. 15. The mortgegor fudhet coveaants that should this mortgege and the note secured hereby aot be eligible foc inswaace under the National Housiag Act Mritbin thirty daye from the date henof (writtea stateaeat of any officer d the Depadment of Housing and tlrban Development or authaized agent of the Secretary of Hous- ing aad Urban Development deted subseqnent to theth~.Tty d8ye time fcom the date of t6is moctg,age, declining to insure s~id aote aad this mortg,age, beiag deemPd conclnsive proof of such ineligibility), the ~nortga- ~ee a the holder of the aote m~y, at its optioa, declare all sums secured bereby immediatelq due and payable. The coveaants 6erein coatained shall biad, end the benefits and advantages shali iaure to, the respective heirs, e:ecutas, admiaistrators, snccessas, and assig,ps d the p:cties hereto. Whenever used, the singular num- ber a6a11 inclode t!~ plnral, the plural the singalar, a.~sd tbe use of any gtnder shall iaclude all genders. ~ 168 ~2412 . e,.~- - - - `~Fe