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Home My WebLink About0281 : ~ . ~ . t~ S. Tlwt be ~vlll permit. canmit. a sutfer a~ vr~s~~ iapeirmei~'~~ deteriotation of sAid pcoperty oc aay put tbereof; and in the event of the tailure oE the moc~ea~or to keep the buildiags oa said pcemises aad those tobe etacted on sald premises. or improvemeats thereon. ia good repau. the mo~gagoe may aaake such repairs as in ib discretioa it ioay deem necessary fa the pcope~ presecvation thereof. and the full amowrt oE each aod every sucb poyment shall be imnadiately due aad poyable. and alult be sccuced by the liea of this mortgage. 6. That he will pay all and singular the coets. charges. ~nd expenses. iacludiag re4saaable lawyer's tees, aad costs of abatracts of title~ incncred o~ peld at aay ttme bythe mortgagea bacaase of the failure on the part of the mortg,agvr pmmptly and fully to perfam the agreements and coveaants of aaid pcomissory aote aad this moet- gage. and said costs. charges. and expensea slwl! be immediately due aad payable aad shall be secuced by tbe lien af tbis mortgage. 7. Tbat he wjll keep the improvemeats now e:iatiag oc hereafter erected on the iaortgaged pcopeety, iasnred as may be required from time to time by the moctgagee against loss by fira and other tiasacds. casuolties. and contia- gencies ia such amounts and for such periods as awy be required by matgagee, and ~rill pny promptly; when due, any premiuu~s on such insurance Eor payment of which provision has not been made hereinbefoce. All insutance shall be carried in companies eppcoved by moctgagee aad the policies aad renewals thereof shall be held by mort- gagee and heve ettached thereto loss payable clauses in Eavoc of sad ia form acceptable to the mortgagee. In event of loss he will give immediate notice by mail to mat$agee. and moctgagee may make proof of loss if not made promptly by mqctgagor, and each insurance comperiy concemed is hereby authaisetl and directed to make payment for such loss directly to modgagee instead of to matgagor and moctgagee joiatly, aad the i~surance pro- ceeds. or any pert thereof, may be applled by matgagee at its optioa either to the reduction of the indebtedness hereby secured ot to the cestoration a repair of the ptopedy damaged. In eveat of forecla~ure of this modgage or other transfer oE title to the mo~tgaged propedy in eatiaguishme~t of the indebtedness secured hereby, all right. title~ and interest of the mortgagor ia and to any insurance policies then in face shall pess to the purchaser a ~sntce. 8. That the mottgagee may. at any time peading a suit upon this moctgage, apply to the conrt having ;urisdic- tion theceaf for the appointment of a receiver~ and sucb court shall fodhwith appoint a receiver of the premises covered hereby all and singular. i~cluding all and singular the income, proEits. issues. end revenues from whatever source deriv~d, each and every oE which, it being expcessly understood, is hereby modg,aged as if speciEically set Eodh and described in the granting end hebe~dum clauses hereof, and sucb receiver shall have all the broad and effective functions and powers in anywise eatrusted by a court to a receiver. and such appoiatment shall be made by such court as an edmitted equity and a matter of ebsolute right to said mortgagee, aad wi~out reference to the adequacy or inadequacy of the value of the propedy mortgeged or to the solveacy'a icisolvency of said mortgagor or the defendents, and that such rents~ ~xofits, income, issues. aad ceveaues shall be applied by such receiver according to the lien of this mortgage and the practice of snch couct. In the eveat of aay default oa t6e part of the mortgagor hereunder. the mortgagor agrees to pay to the mortgagee a~ demand as a rPasonable monthly rental for the premises an amount at least eq~ivalent to one-twelfth (l/12) of the aggreg,ate of the twelve monthly instell- ments payable in the then curreat year plus the actual amount of the annual ta~ces~ assessments. water rates, aad insucance premiums for such year not covered by the aforesaid monthly paymeats. 9. That (01 in the event of any breach of this mortgage or default oa the ped of tbe modgagor, or (b) in the event that eny of said sums of money herein referred to be not promptly end fully paid withdEi demand or notice, or (c~ in the event that each and every the stipulations, ag~eements, conditia~s, and coveneats of said note and this mortgage, are not duly, promptly, and fully performed; then in either or any ~ uch event, the said aggc~gate sum mentioaed in said note then remaining unpaid, aith interest accrned to that time, end all moaeys secured hereby, shall become due and payable forthwith, a thereafter, at the option of said mortgagee, as fally and com- pletely as if all of the said sums of mo~ey were originally stipulated to be ~aid on such day, anything ia said note a in this modgage to the contrary notwithstanding; aad thereupon or thereafter. at the option of said mortga- gee. aithout notice or demand. suit at law or in equity, may be prosecuted as if all nwneys seciered-bereby had matnsed pcia to its institution. The mortg,agee may foreclose this mortgage, as to the amonnt so declared due aad peyable, and the seid premises shall be sold to satisfy end pey the same together with costs, expenses,aad allow- ances. tn case of partial foreclo~ure .of this moctgage, the mortgaged premises s6a11 be sold subject to the coa- tinuing lien of this mortgage for the amount oE the debt not then due and uapaid. In such case the provisioas of. this paragraQh may egain be availed of thereafter from time to time by the mortgagee. 10. That the modgagor will give immediate notice by meil to the mortgegee of any conveyance, transfer. or change of o~rnership of the premises. ~ 11. That ao wsiver of any covenant hereia or of the obligation secured hereby shall at any time thereafter be held to be a araiver of the terms hered or of tl~e note secwed hereby. 12. T6at if the mortgaga default ia any of the covenants or agreements contained herein, or in said note, then I~' the mortgagee may perform the saan~, and all expenditures (iaclnding reesonable attaney's fees) made by the mortgagee ia so doiag shall drew iaterest et the rate set fotth in the note secuted hereby, and shell be repeysble j immediately ond without demend by the mortgaga to the mortgegee, aad, together ~vlth inter~st and costs accruiag ; thereoa, shall be secured by tbis nwrtgage. i 13. that the mailing of a writtea notice ur demandaddressed to the owner of record of the mortgeged ~emisea. ~ or directed to the said o~var at the last address actually fnrnished to the moctgagee, or directed to said apner at said awctgpged premises, and awiled by tbe United States mails, shall be sufficient notice aad demand in any case srising under this iastrnmeat aad required by tbe provisloas heceof a by lew. 14. The mortgagor covenants and agreea t}wt so long as this matg~ge and the said note secured hereby are ! insured under the Provisiona of the National Housiag Act, he will not execute or file for cecord aay instrument ~vhich imposes a ceatrictlon upon tlre sale a occupency oE the mortgeged pcopedy on the basis of race, cola. a creed. Upoo any vlolatien of this undertaking, the matgagee nwy, at its option, declere the unpaid balance of the debt sec~ed bereby imsiediately due aad payable. 15. The morteaQor further coveaants that should this matgage aad the aate ~secnced hereby not be eli~ible foc insurance under the Natiooal Housing Act wlthta 30 ~Y~ iroa~ the date heceaf (writtea stateaeat ~ af any officer d tbe Departa~eat d Housiag and Ucb~n Oevelopm t or a~halsed ageat af the Secretary af Hous- ' ing and Urb~n Developmeat dated snbsequent to tl~e ~ y time fe~om t6e date af this mort~p~e. r ~ j decLaiug co inaure seid aae ~nd cbis mat~,.~e. being dee ~ Z:'M3~lusive proof af such ineliglbility), t6e mort~a- gee or the holder cE t6e aote mQy, at its cption, declare all s•~is secured bereby immediately due aad p~pble. The coveaaats herein contalaed shall bind. and tbe bcuefjts 4ad advanta~es shall iaure to, the respective heirs, e:ecutas, admiaistntas. successocs. ud assiyis d_t6e puties haceto. Nbenever uscd, t1~e sin~ular aum- j ber sball include the plnnl, the plncal tbe singular, aad the use d~ay etader :6a11 iaclude ~11 ~enders. ; ~ ~ l. : ti t ~ _ - - _ _--T--~- _ _