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Home My WebLink About1078 i t T 4` } 4} ~wai ii`.,~ S. Tlwt he will permit. commit, oc sutEer ao vraste. impairment. or deterioration of s~id propedy or aay part thereof; ar~d ia the event oE the failure oE the moctgagor to keep the buildia~s oa said pcemises aad those tobe erected on said p~emises. a improvements thereon. in good repeu. the moetgagee may make such cepairs as ia its discretio~ it awy deem necessary for the proper preservation theceof. and the full emount of each aad every such poyment s6all be Immedietely due s~ payable. e~d shell be secuced by the llen of this mortgage. 6. That he will pay all and singular the costs. chatges, and expenses. iacluding reosonable lawyer's fc~s. and costa of abstraets of title, i~curred or paid at any time by the matgagee because of the failure oa the part oE the matgaga pcomptly and fally to perfam the agreements and coveaants of said promissory eote and this mott- gage~ and said costa. clwrgea. and expeases shall be immediately due aad payable and shall be aecured by the lien d this mortgage. 7. That he will keep the impcovemeats now esisting or hereafter ecected oa the mortgaged pcopedy. iasured as may be required from time to time by the matgagee against loss by fice end other hasards, cesualties. and coatia- gencies ln such amounts and for such periods as may be required by matgagee. and will pay promptly. when due. any pceiniuu?s on such insucence for peyment of which provision has not been made herelnbefore. All insutance shall be carried i~ compaaies approved by matgagee and the policies and re~ewals thereof shall be held by mat- gagee a~d have atteched thereto loss payable clauses in favor of and in form acceptable to the moetg,sgee. In event of loss he will give immediate notice by mail to moctgagee. and mottgagee may make proof of loss if aot made promptly by mortgaga, and each insurance company concerned is hereby authorized and d'uected to make peyment fot snch lass dicectly to matgagee instesd of to moctgaga and mottgagee jointly. and the insurance pro- ceeds. or any part theceof, may be applied by mortgagee at its option either to the rednction of the indebtedness hereby sec~ued or to the restoration ar repair cf the propedy damaged. Ia event of foreclosure of this moctgage or other transfer of Htle to the mortgaged pcoperty in extinguishment of the indebtedness secured hereby, all right. title. and intecest of the mortgaga in and to any insurance policies then in force shall pess to the purchaser ur grantee. 8. That the mortgagee may, at any time pending e suit upon this moctgage, apply to the court having jurisdic- tion theteaf for the appointmeat of a ceceiver, and such coud shall fodhwith appoint a receiver of the premises covered bereby all a~d singular, including all and singular the income. profits. issues. and revenues from whatever source derived, each snd every of which. it being expressly understood, is hereby modg,aged es if specifically set fodh and described in the granting and habendum clauses hereof, and such ceceiver shall have all the broad and effective Eunctions and powers in anywise entrusted by a court to a receiver~ and such appoiatment shall be made by such court as an admitted equity and a~aatter of absolute tight to said mortgagee~ gnd without refecence to the adequacy or inadequacy of the value of the propedy mortgaged or to the solvency oc iasolveacy of said matgagor or the defendents, a~d that such rents, profits, income. issues. and_ reveaues shall be applied by such receiver according to the lien of this modgage and the practice of such court. Ia the event of any default on the pad of the mortgagor hereunder, the moctgagor agcees to pay to the mortgagee oa dea~nd es e• reasoaable monthly rental for the premises an amount at least eqpivalent to oae-twelfth (1/12) of the aggregate of the twelve monthly install- ments payable in the then current year plus the actual amount of th~ ae~ewl teaces, assessments, water rates. and insucance pcemiums for such year not covered by the aforesaid moathly paymeats. 9. That (o) in the event of any breach of this modgage or default oa the p~d of the mortgagor, or (b) ia the event that any of said sums of money herein referred to be not promptly sad fully peid with6Gt demand or notice. or (c1 in the event that each and every the stipulatioas, agreements, conditions, and covenants of said note and this mortgage, are not duly. promptly, and fully performed; then in either or any sach eveat, the seid aggcegate sum mentioned in said note then remaining unpaid, wit6 interest accrued to that time, and all moneys secured hereby, s6a11 become due and payable forthwith. or thereafter~ at the option of said matgagee. as fully aad com- i pletely as if all of the said sums of money were origiaally stipulated to be {~aid a~ such day, anything in said note a in this mortgage to t6e contrary notwithstanding; and thereupon oc tbeceafter, at the option of said matga- ~ gee, without notice or demand, suit at law or in equity, ~y be aos~utea as if all moceys secnced hereby had matured prior to its institution. The modgegee may foreclose this mortgage, as to the amount so declared due and , peyable. and the said premises shell be sold to satisfy and pay the same together with costs. espenses,and allow- ~ ances. In case of partial foreclosuce of this mortgage, the mortgaged pcemises shall be sold subject to the con- tinuiag lien of t6is mortgage for the amount of the debt not then due and uapaid. In snch case the provisioos of this paragraph may again be availed of thereafter from time to time by the mortgagee. 10. That the ~ortgagor will give immediate notice by mail to the modgagee of any conveyance, trensfer, a change of awaersaip of the premises. 11. That no waiver of any covenant herein or of the obligation secnred hereby shall at any time thereafter be held to be a weiver of the terms hereof or of tbe note secuced hereby. . 12. T6at if the mortgago~ default in any of the covenants or agreements contained herein, or in said note, then the modgagee may perform the samg, end all expendituces (including reasoaable sttocney's fees) made by the mortgagee in so doing shall draw interest at the rate set fath in the note secured hereby, and shall be reQayable immediately and aithoat demand by the mortgaga to the mortgagee, end, together with iaterest aad costs accruing thereoa, shall be secured by this mortgage. ~ 13. thst the mailing of a written notice a demendaddressed to tbe owner af record of the moctgaged pcemises, oc directed to the said awner at We last eddress actually.furaished to the moetgagee. or directed to seidawner at said uwdg,aged premises, and mailed by tbe United States - mails, shall be sufficient notice and demand in any case arising undet this instcument and requiced by the provisions hereof or by law. 14. The mortgagor covenants and eg~ees that so long as this mortg,age and the said note secuced hereby are insured under the provisions of the National Honsi~ Act, he will aot execute or file for record any instrument which imposes a restriction upon the sale oc occuQancy of the modg,aged pcoperty on the basis of race, coloc. or eceed. Upon anyvioletion of this underts~king, the mortgagee may, et its option, declare the unpaid balance of the debt secared heceby immedistely dne and peyable. I5. The mod6agoc further covenants tlwt shoald this mat~? ge ~nd the note secured bereby not be eligibk for insurance under the Netioaal u~wsing Act within ~it~ from the dete hereoE (writfen statement of any ofticer af tbe Depectmeat of Housiag and Urban DevelopmeAt or a~haised agent of the Sccretary of Hous- ing and Urbaa Development dated subsequent to the g~y y~y= time fcom tbe date oE this moct~pge, decli~in~ to insuce s~id note and this mortgage, being deim~ cratc 4sive proo~ ef sucb. ~neligibility), tLe modga- gee or the holdec oE the note msy, at ita option, declare all sums secnred berebp immedLtelq due and papble. The covenants hecein contained shall bind, end the benefits ond odvantages shall ianre to, the respective 6eirs, e:ecMors, administratocs, successocs, snd assigns af the pocti~s' ber~to. A'heaevei used, the ~iagulor num- ber ahall iaclude the plural, the plural the singular, and tbe use of amy ~ender s6a11 incl~e oll geader~. doQK 1?7 ~l0?7 ~ ~ ~ - _ . _