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Home My WebLink About0095 ~ • ' ~i t .a *1' 5. Tbat he will permit. commit. ~ suffer no waste, impaicment. o~ detecioration of said property or any pad thereaf; and in !he event of the tailu~e of the moHgagor to keep the buildings on said premises and those tobe erected on sa;d premiseR. or imptovements theceon. in good ccpair~ the mortgagee may u~eke such repairs as in its disc~tioa it may deem necessary Eor the propec preservation the~eof. and the lull amount of each snd eve~y such payment shall be immediately due and payable. and shall be secured by the lien of this mortgage. 6. That` he will pay all and singular th~ costs. charges. and expenses. iacluding reasonable lewyer's fees, and costs of abstracts of title. incurced or paid at any ~ bythe mortgagee because of the failure o~ the p~rt of the mortgagoc prompt[y a~d fully to pe~fam the agreeme~ s and covenants af seid promissory rtote a~d this mort- gage. and said costs. charges. a~d expenses shal; be immediately due and payable and shall be secured by t6e lien af this mortgage. 7. That he will keep the improvements now existing a beceafter e~ected on the matgaged property. insured as may be requiced trom time to time by the m~.rtgagee against~loss by fice and other hasards. casualt:es. and contin- gencies ie such amounts and Eor such periods as may be required by mortgagee. and will pay promptly, when due. any preraiu~s on s~ch insurance foc paym~M o[ which provision has not been made hereinbefore. All insurance shall be cart'ied. i~ companies approved by mortgagee and th~ policies and renewals thereof shall be held by mat- gagee and have attached theceto loss payable clauses in favor of and in form acceptable to the modgagee. In event of loss he will give immediate notice by mail to mortgagee, artd martgagee may make pra~of of loss if not - made promptly by mortgagor. artd each insurance company concerned is heceby authorized and directed to make payme :t fex such l~ss ditect[y to mortgagee instead of to mortgagor and mortgagee joiRtly. and the i~su~ance pro- ceeds. or any pact thereof. may be applied by mortgagee-at its option either to the reduction of the indebtedness hereby secured or to the restoration oc cepai~ of the propedy damaged. ln event of forectosure of this mo:tgage or othec transfer of title to the mortgaged p~operty in extinguishment oE the indebtedness secured hereby. all right. title. and i~terest of the moctgaga~ in and to any insurance policies then in force shall pass to the purchaser or grantee. 8. That the modgegee a~ay. at any time pending a suit upon this mortgage, apply to the couct having jurisdic- - tio~ thereof foc the appointment of a receiver. and such coart shall forthwith appoint a receiver ot the premises covered hereby all and sinQulac, including all and singular the income. profits. issues. a~d revenues from whatever source derived, each and eve~y of which. it being expressly understood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof. and such receiver shall have a!1 the broad an3 effective f~nctions and powe~s in anywise ent~usted by a court to a receiver, and such appointment shall be made by sach court as;an admitted equity and a matter of absolute right to said morigagee. and without reEerence to the ad~quacy or inadequacy of the value of the property mortgaged or to the solvency or insolvency oE said :aortgagor ; or the defendents. and that such rents. proiits. income. issues. and revenues shall be applied by such receivec i according to the tie~ of this mortgage and the practice of such couK. In the event of any default on the part of the mortgagor hereunder. the mortgagor agrees to pay to the mortgagee on demand as a reasonabte monthly rental for thc premises an amount at least equivalent to one-tweltth (1/12) of the aggregate of the twz!ve monthly install- ments payable in the then current year plus the actual amount of the annual taxes. assessments. water rates, and insurance premiums Eor such year not co~ered by the aforesaid monthly payments. 9. That (a1 in the event ot any breach of this mortgage or default on the pad c: the modgagor. or (b~ ir. :he event that any oE said sums of money herein referred to ~e not promptly and fully peid without demand or notice. or (c1 in the event that each and every the stipulations, agreements. conditions. and covenants of said note and • this mortgage. are not duly, promptly. and fully pecformed; then i~ either or any such event. the said aggregate sum mentioned in said note then remaining unpaid, with interest ac~rued to that time. and all moneys~secured hereby. shall become due and payable forthwith. or thereafter, at the option of said moctgagee. as fully and com- pletely as if all of the said sums of money were originaUy stipuiated to be paid on such day, anything in said note or in this mortgage to the contrary notwithstanding; and theceupon or thereafter, at the option of said mortga- 'f gee, without notice or demand. suit at law or in equity. may be prosecuted as if all moneys secured her~by hatl ~ matured prior to its institution. The mortgagee may foreclose this mortgage, as to the amount so declared due and ~ payable, and the said premises shall be sold to satisfy and pay the same together with costs. expenses,and allow- ances. In case of partial foreclosure of this mortgage. the modgaged premises shalt be sold subject to the con- tinuing lien oE this mortgage for the amount of the debt not then due and unpaid. In such case the pcovisions oE this paragraph r~ay again be availed of thereafter from time to time by the modgagee. 10. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance. transfer, or change of ownership of the premises. 11. "1'hat no waive• of any covenant herein or ut the obligation secured hereby shall at any time therea[ter be held to be a waiver of the terms hered or of the note se~:ured hereby. 12. That if the mortgagor default in any oE the covenants or agreements contained herein. or in said note, then the mortgagee ma3~ pedorm the same, and all expenditures (including reasonable a~torney's fees) made by the mortgagee in so doing shall draw interest at the rate set focth in the note secured hereby. and shall be repayable immediately and wilhoat demand by the mortgagor to t6e mortgagee, and, together with interest and costs accruing thereon, shall be secured by this mortgage. 13. that the mailing of a~vritten notice a demandaddressed to the owner of cecord of the mortgaged premises,- or directed to the said owner at the last address actually furnished to the modgagee, oc directed to said owner at • said mortgaged premises, and mailed by the United States mails, shall be sufficient notice and demand in any case arising under this instrument and required by the provisions hereof or by law. 14. The mortgagor covenants and agrees that sd long as this mortgage and the said note secured hereby are insured under the provisions of the National Housing Act. he will not execute or file for record any instrument which imposes a restriction upon the sale or occupancy oE the moctgsged property on the basis of race, color, or creed. Upon any'violation oE this undertaking, the modgagee may, at its option, declare tne unpaid balance of the ~ debt secssr~~ hereby immediately due and payable. 15. The mortgagor furthpr covenants ihai should this modgage and the note secured hereby not be eligible for insuran~e under the National Housing Act vvithin Thirty Days froro the date heteof (written statement of any ot{icer of the Depactcaent of Hausing and Urban Development or authorized agent oE the Secretary of Hous- ing and Urban DeveloPment dated subsequent to the~ i r time from the date of this modgage, declining to insure said note and this mortgage, being deem?~conZlffsive proof of such ineligibility), the mortga- gee or the holder of the note may, at its option, declare all sums secure~ l~e:eby immediately due ared payable. The covenants he:ein contained shsll bind, and the benefits and aJvantages shall inure to, the respective heirs, execvtors, administrators, success~s, and assigns of the padies hereto. Whenever used, the singular num- ber shal! include the plural, the plural the singular, and the use of any gender shall incl~e all genders. ~ OR a~169 ~ ~ ~ . _ _ _ ~~5~ ~r ~ - _