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Home My WebLink About0191 „ t.'g ~ ~ , ' {r~' . : ~'.<< ~ ' f ~ . ~ S. That he will permit. commit, or suffer no waste. impairment. or deterioration of said propedy oc any pad thereof; aad in the event of the failure af the mortgagor to keep the buildiegs o~ said pcemises and those tobe erected on said pcemises. or improvemeats thereon, in good repair, the modgagte may make such repei~s as ia its discretioa it awy deem necessary for the p~opec preservation thereof~ and the full amount of each and every such payment shal! be imaiediately due and payable, aad shall be secured by the lien of this mortgage. 6. That he ~vill pey all and singuler the costs, charges~ and expenses. including reasoaable lawyer's fees. aed costs of abstracts of title~ incurred or pald at any time by the matgagee because of thc falluce on the part of tbe mortgago~ promptly ar~d fully to perfocm the agreements and covenents of said promissory note and this mott- gage. a~d said costs, chsrges. and expenses shall be immediately due end payable and shall be secuced by the lie~ of this moctgage. 7. That he will keep the improvements aow existing oc heceafter erected on the moKgaged propecty, insured as may be required from time to time by the matgagee against loss by fire and othec hazacds. casualties. and contin- gencies in such amounts and for such periods as may be requiced by mortgegee. and will pay promptly~ when due. any premiums on s~h insurance for payment of which provision hes not been made hereinbefae. All insurance shall be carried in companies approved by mortgagee and the policies and renewels thereof shall be held by mort- gagee and have attached theceto loss psyable clauses in fava of and in form accepteble to the modgagee. In event of loss he will give immediate aotice by mail to mortgagee, and mortgagee aiay make proof of loss if not made promptly by matgagor, and each insura~ce company concerned is hereby authorized and dicected to make peyment for such locs dicectly to mortgagee instead of to mortgagor and matgagee jointly. and the insurance pro• . ceeds. or ~ny pad theceof, may be applied by matgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the propedy damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged propedy in extiaguishment of the indebtedness secured hereby, all right~ title, and interest of the mortgaga~ in and to any insurance policies then in force shall pass to the purchaser or grentee. 8. That the mortgagee may, at aay time pending a suit upo~ this mortgage, apply to the court heving jurisdic- tion thereof fa the appointmeat of a receiver, and such coud shall fodhwith appoint a receiver of the premises covered hereby a11 and singular, including all and singular the income. profits. issues. and revenues from, whatever source derived, each and every of which, it being expressly understood, is hereby modgaged as if specifically set Eodh and desccibed in the granting and habendum clauses hereof. and such receiver shall have all the broad end effective functions and powers in anywise entrusted by a court to a receiver. and such appointment shall be made by such cou~t as an admitted equity and a matter of absolute right to seid mortgagee, and without reference to the adequscy or inadequacy of the value of the propedy mortgaged or to the solvency or insolvency of said mortgaga or the defendents. aad that such rents. profits, income, issues. and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such coud. In the event of any default on the pad of the modgagor herennder. the matgagoc agrees to pay to the mortgagee on demand as a reasonable monthly rental for the premises an amount at least eQ4ivalent to one-twelfth (1/12) of the aggreg,ate of the twelve monthly install- ments payable in the then current year plus the actual amount of the annaal taxes, assessments, weter rates, and insurance premiums for snch year not covered by the afocesaid a?onthly payments. 9. That (a1 in the event of any ~each of this modgage or default on the pad of t6e modg,agor. or (b) in the event that any of said sums of mon~y beke~n referred to be not promptly and fally paid with~it demand or notice. or (c1 in the event that each and every the sfipulations, agreements, coaditions, and covenants of said note and this mortgage. are not duly. promptly, and fully performed; then in either or aay such event. the said aggregate sum mentioned in said aote then remaining unpaid, with interest accrued to that time, and all moneys secured hereby, shall become due and payable forthwith. or thereafter, at the option of said mortgagee, as fully and com- pletely as if all of the said sums of money were originally stipulated to be ~eid on such day, anything in said note oc in this awdgage to the contrary notwithstanding; and thereupon a thereafter. at the option oE said matga- ' j gee. without notice or deroand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had ~ matured pria to its institution. The modgagee mey foreclose this mortgage. as to the amount so declared due and payable~ aad the said pcemises 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 mortgaged premises shall be sold subject to the con- tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In soch case the provisions of this paragraph may again be availed of thereafter from time to time by the modgagee. 10. That the modgagor will give immediate notice by mail to the mortgagee of any conveyance, tcansfer, or chaage of ownership of the premises. 11. That no waiver oE any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a vvaiver of the terms hereof or of the note secured hereby:= ` ~ 12. That if the mortgaga default in any of the covenants a agreements contained hereia. or in said note, then the mortgagee may perform the samg, and all expenditures (including reasonable attocney's fees) made by the mortgagee in so doing s6a11 draw interest at the rate set fath in t6e nde secnred hereby. and shall be repayable immediately and wit6out demand by the mortgaga to the mortgegee, and, together with interest and co§ts accrning thereon, shall be secured by this modgage. 13. that the mailing of a written notice ac demandaddressed to the owner of record of the mortgaged premises. ~ or dicected to the said ovvner at the lest address ectually fnrnished to tbe mortgagee, or directed to said orvnec et seid modgaged premises, and mailed by the United States mails, shall be sufficient notice and deroand in any ~ caFe arising under this instcument and required by the provisions 6ereof or by law. ~ 14. The modgaga coveaants and agrees that so long as this mortgage end the said note secured hereby are insuced under the pmvisions of the National Houaing AM, he ~rlll not execute or file for reccxd any instrument which imposes a cestrictian upon the sale a occupancy of the mortgaged pcopedy on the basis of race, coloc. oc creed. Upon any violatian of thia undectaking, the moctg,agee may. et its option, declare the unpaid balance of the debt secured hereby ima~edietely due and payable. 15. The mortgago: f~uther coveaaat~ that sho~ld t6is matgage aod the aote secured bereby aot be eligibb for insurance under the Natla~al Housing Act ~vithin from the dete hereof (written statement of any officer d the Depadmeat of Housing and Ucbaa Devetopmeat ot antbaised agent d the Secretary oE Hous- ing and Ucban Development dated subsequent to the time from the d~te af t6is mottg,oge, decliaing to insure said nde and tbis mortgage, being deemPd ceacluslve proof af such inelig~bility), the modga- gee o~ t6e holder af tbe note may, at its optioa, declare all sums secured bereby immedietely dne and p~yoble. The covenaats herein contained shall biad, and the beaefits aid advantaees sball inuce to, tbe respective beirs, eucnto~s. administrasocs, successas, aad assigns d tbe parties bereto. Wbenevec ~d, the singular num- bec shall include the plural, the plural the singular. and the use of aay gender shall iaclude alt gender~. i a~ 174 ~ 191 ~ . . . . i