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Home My WebLink About0115 • ; r ~ > > . • s ° ~ ~ 5. TlNt he vrill permit, commit, or suffer no weste. irapairmeot. oc detecioration of said ptopeny or any pa~t ' thereoE; •nd ip the event of the feilure of the mortgago~ ~to keep the buildings on said premises ead tbose tobe ~arcted on s~id preaisea. or improvea~ents thereon. in good repair. the moKgagee may make such cepeirs as in its discrettoe It awy deem eecess~ry Ea the proper preservation thereot. and the full amouM of each aad eve~~ such p~yment slu~ll b~ imnediately due and payable. and shall be secured by the liea of this mortgage. 6. That he will p~y all oed slegular the costs, charges~ and expenses. including reasonable lawyec's Eees, aad coats of obstwcta of tltle. incurred or pald at any time by the matgagee because of the failure o~ the pert of tb! mott~got ptomptly ond Eully to perEam the agreements and covenants of said pcomissory note end this mort• ~a`e~ and a~id costs, cherges~ and expenses shall be immedi ly due end poyabie end shall be secured by t6e lien aE this mottgage. ~ 7. That he will keep the impcovements now existing eceaEter e~ected oa the mortgaged pcopeety. iasured as ' may be cpuiced fcom time to time by the moctgagee a t loss by fire and othec hazards. casualties. and contin- ' gencies In auch amounts ~nd for such periods as m~requiced by matgagee. and will pay promptly, when due, ; any pcemiuma on aueh insurance for peyment of which provision has not been made heceinbefore. All insurance ; shall be cartied in companies appcoved by moctgagee and the policies and reneaals theceof shall be held by mat- ~ gegea pnd heve etteched the?eto Ioss peyable cIauses in favor of and in form acceptable tothe moctgagee. In ' event o( losa he wlll give immediate notice by mail to mortgagee. and moctgagee may make proof of loss if not ` made ptomptly by mottgagot, and each insucar~ce compeny concerned is hereby authorized and directed to make j poyment Eor such loaa dicectly to mortg~gee instead of to mortgagor and moctgagee jointly, end the insurance pro- i ceeds~ ot •ny paK thereof, may be epplied by mortgagee at its option either to the reduction of the indebtedness hereby secuced or to the restort~tion a repair of the pcopedy damaged. ln event of foreclosure of this modgage or othet ttanslet oE tltle to the moctgaged property in extinguishment of the iadebtedness secured hereby~ all right, ~ titlf~ a~d lnteceat of the moctpga in and to any insurance policies then in force shall,~ass to the purchaser or ~ gwntee. • ~ 8. That the moetgagee may. at any tlme pertding a suit upon this mortgage, apply to th~ourt having jurisdic- tion theceof fot the appointment of a receiver. and such coud shall fodhwith appoint a recl?iver of the premises j covered lteteey ~Il ~nd aingular, including all and singular the income. profits, issues. and rev~iues from whatever } aoutce detived~ each and every of tAhich. it being expressly µaderstood, is heteby moctgaged as i~ specifically set # forth and deacribed in the grenting and habendum claoses hereof. aad such receiver shall have the broad and , effective functions and powers in anywise entrusted by a court to a receivec, and such appointment 11 be made by such court es an sdmitted equity and a matter of absolute ci~fit to said mortgagee. and without refere -Eo the , edequacy or inadequacy of the value of the propedy mortgag~d~r to ttie;solvency a insolvency of said mortgagor ~ ot the defendents~ and thef-such cents. profits. inco~ne~ issues. ~and revenues shall be e~ied by such receivec eccotding to the lien of this modgage and the practice of soch coud., Ia the eve~ ~~iy,def ult on the pad of the mottgagw hereunder. the mortgagoc agrees to pay to the modgagee on~demand a a reaso~able monthly rental for the pcemises an amount at least equivelent to one-twelfth (1/12) of the eQgregate of the twelve monthly install- ~ ments peyeble in the then current year plus the actual amount af the annuat~~axes.'assessments. water rates, and : inautence premiums for snch year not covered by the aforesaid nonthly paymeets. ' 9. That (a) in the event of any breach of this. modgage or default oa the pad of the modgagor, or (b) ia the ~ event that any of seid sums of money herein referred to be not promptly and fully paid withou"t demand or notice, ~ or (cl in the event that each and every the stipulations, agreements. conditioas, and covenants of said note end thia mortgage, ere not duly, promptly..and fully performed; then in either or aay such event, the said aggregate ~ sum mentioned In said note then remaining unpaid, with iateresi aocrued to that time. and all moaeys secured ` hereby. shall become due end. peyable forthwith, or thereafter. at the option of said matgagee, as fully and com- ~ pletely as if alt of the said sums of money were originally stipulated to be ~aid on such day, anything in said note a in this mortgage to the contrary notwithstanding; and tbereupon o: thereafter, at the option of said mortga- ~ ; gee, wlthout notice or demand~ suit at law or in equity. may be prosecuted as if all moneys secured hereby had ~ , ~ maturad pcitx to its institution. The mortg,agee may foreclose this mortgage, as to the amount so declared due and ~ .payable, and th~ said premises shall be sold to satisfy and pay the same together with costs, expenses.and allow- ~ ances. In cese of partiel forecloaure of this mortg,age, the mortgaged premises shell be sold subject to the con- tieuin~ llen of this mortgage Eor the emount of the debt not then due and unpaid. In such case the provisions of thl~t p~tagraph may again be aveiled of thereafter from time to time by the mortgagee. ' 10. That the mortgegor wlll give immediate notice by mail to the modgag~e of any conveyance, transfer, or change oE ownership of the premises. 11. That no weiver of any covenaat hecein or of the obligation secuced hereby shall at any time thereafter be held to be a walvet of the terms hereaf or of the aote secuced hereby. ~ 17. That !f the mortgega default in any of the covenents or agreements contained herein. or in said note, then the mortg,agee may perform the samg, and all expenditures (including reasonable attorney's fees) made by the mortgagee 1n ao doing ahall draw interest at the rate set forth in the note secuced hereby, end shall be repeyable immediately and arithout demand by the mortgagor to the mortgagee, and, together with interest and costs accraing thereon, shall be secured by this mortgege. 13. that the mejling of a written notice a demandaddressed to the owner of record oE the moctgaged premises, ot dlrected to the sald oavner at the last address actually facnished to the mortgegee, or directed to seid avner at aoid mottgaged premises, and mailed by the United States mails, ,shall be sufficient notice and demand in any cas~ ufsing under thia inatrument and reqnired by the provisions hereof or by law. 14. The mortgagor covenanta and agrees that so long as this martgsge and the said note secured hereby are ~ lnsuced undet the ptovlsions of the Natlonal Hbusing Act, he will not execute or file for recocd any instrument which lmposes a reatrktion upon the sele ~ occupancy of the mortgaged propedy on the basis of race, cola, or creed. Upon ony violation of this undertaking, the mortgagee may, at its option, declare the unpaid bala~e of the ' debt ~ecuted hereby immediately due aad peyable. . l5. The aactgagor further coveaants that should this moctgage and the note secured hereby not be eligible tot lnsurance under the Natioael Housing Act within ~~Y$ from the date hereaf (~vritten stateaient ~ d eny of(lcer of the Departa~ent of Housing and Urban Devel ment oc authorized agent of the Secretary oE Hons- ~ ing and Utban Development dated subsequent to the ~~Y$ time from the date of this modg,uge, i de~llning .to lnsure said note and this mortgage, being deem~d conclusive proof of such ineligibility), the mortga- ~ gee ot the:holder d the note mey, et its option, declare all sums secured herebyimmediately due and payable. ~ The covenants herein contained shall bind, and the benefits and adventages shall inure to, the respective heirs, executots, adminlstrators, successors, snd assigns af the padies hereto. Whenever used, the singular num- ' ber shatl lnclude the plural, the.plnral the singnlar~ and the use of any gender shall include all genders. ; BOOK 185 PAGE 11fi - . z . _ - - r- _