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Home My WebLink About0953 ~ 5. Th~t he will permlt. canmlt~ a satfK ~o~~~st~~ imp~itaNUt~ or deterioratlon aE said pwperty a any p~rt Wereoi; •ed In the event of the toiluce ot the mottsa~o~ to keep t6a buildiats oa wtd promises ~ad thos~ tobe e~ected on said pcemises. a impcovemeats tbeceon. in good cepoir. the n?ort~~ee may awke sucb ropatra as ia its dlsccetion It owy deem necessory fa~ the peoper presecvation the~eaE, ~nd the full •mouM af eacb aad every auch payment shall be imaKdiately due aad payrable, aad shell be securad by the llea of thls mort~age. 6. That he wlll ppy all aad singular Yhe costs. char~s~ aad expenses. includiag cc~so~oble lowyec's iees, - aad costs of abstracts of title. incurred or paid at ony time by the matgagee because oE t6e failure on the part oE the mortgagor promptly and fully to pe~Eam the agceeawsnts and covea~ats ef ~aid 'pcanissoryr note aad tbls mort- g~ge~ aad s~id. costs. cha~ges. aad expeases. stwll be imn~ediately due aad payable aad shall be secured by the lien d "this mortgage. . 7. That he will keep thr improvemeats now existing or hereafter erected on the matgpged pcoperty, iasured ss may be requiced from time to time by the matgegee against lo~s by fire a~d othec hasards. casualties. and contin- gencies in such amou~ts and tor such peciods as may be required by matgagee. aad will poy promptly. when dne, any premiums on such insnra~e for peyaient oE which pcovisio~ !ws aot beea made hereinbetoc~. All insuraace - shall be carried in componies approved by matgagee aad the policies and renevvals theceof shall be held by moct- gagee and have_attached thereto loss payable clauses in favor of aad in focm acceptable to the moctg~gee. , In event of loss he will give immediate aotice by awil to matg,agee~ and mortgagee may nwke proof of loss if not made promptly by matgegor. and each insucance company coucemed is hereby authorised aad d'uected to raake peyment for such loss directly to mortgagee instead of to mort~,aga and mortgagee jointly. and the insuraace pro- ceeds. or aay pad thereof. awy be applied by matgagee at its optioa either to the reduction oE the intlebtedness hereby secuced or to the restoration a repair vf the property daa~aged. In eveat ~of Eo~closure d this mortgage oc other tcansfer of title to the mortg~ged propedy in extinguishment of the indebtedness secured hereby, all right~ title, and intecest oE the matgagor ia aad to any insurance policies then in fo~ce shall pess to the purchaser a grantee. 8. That the mortgagee a~ay, at aay time ~pending a suit upon this moctgage, apply to the coud having jurisdic- tion theced ta the appoiatmeat af a receiver, and such court shall fodhaith appoiat a receiver of the pcemises covered hereby sll aad siagular. iacl~ing all and singular the income. profits. issues. and revenues fcom ~erhatever source derived. each and every of p6lch. it being e:pcessly ~ndecstood. is hereby a~o~tg,aged as if specifically set forth and described in the qranting and babendum clauses hereof, and such receiver shell have all the broad aad effective functioas and powecs in anyarise entrusted by a court to a receiver, and such appointmeat shall be made by such coud as an admitted equity and a matter of absolute right to said mortgsgee, and ~vithout refecence to the adequacy or inadequacy of the value of the propedy mortgaged or to the solvency er insolveacy of said mortg,sgoc or the defendents. and that such cents. profits, income. issues. and revenuea shall be applied by such raceiver , accocding to the lien of this mortgage and the pcactice of snch caut. la the event of sny default on the pad of the modgagor hereunder. the matgagoc agrees to pay to the mortgagee on demand~ as a reasoaeble oonthly reatal for the pcemises an amount at least eqyivalent to oae-tweUt6 (1/12) of the aggreg~ate of the t~velve monthly install- ments payable in the then curcent year plus the ectual amount of the aaaual taxe~sf :~~ts, water rates, end insucance premiums for such year not covered by the aforesaid moathly peyments. 9. That (o) in the event of any breach of this modgage or default en the pad d the mortg,agor. or (b) in tbe event that any of said sums of money herein referred to be nat promptly and fnlly pald without demand or notice. or (c1 i~ the event that each-and every the stipulatioas, agReemeats, conditions, end covenants of seid note and this mortgage. are not duly, promptly, and fully performed; then in eitl~er or any such eveat, the said aggregate sum mentioned in said note then remai~ing unpaid. with interest accrued to that time, and all moneys secured hereby, shall become due and payable forthwith, ot theresRer, at the option of said matgagee. as fully and com- pletely as if all of the said sums of - money were originally stipulated to be paid on such day, anything in said _ note or in this mortgage to the coatrary aotwithstaading; end theceupon ~ thereafter, at the option of said matga- gee, without notice or demand, suit at laa oc in equity. may be prosecuted as if all moneys secured hereby had - matured prioc to its institution. The mortg,egee may foreclose this matgage, as to the amouat so declared dae and payable, and the said premises shall be sold to satisfy aad pey the same together wit6 costs, expenses,nnd alloa- ances. In case of pettial foreclosuce of this moctg,age, the enort~,aged premises sbell be sold subject to t6e con- tinuing liea oE this mortgege for the smount of tbe debt nd then due end unpaid. In such case the provisions of this paragraph may agaia be availed of Wereafter from time to time by the mortgagee. 10_ That_ the ooctg,egoc will give immediate notice by mail to the modgagee of aay coaveyance, transfer, or ~ chaage of oqvaersbip of t1~e premises. 11. That no waiver oE any covenant herein oc of the obligation secured hereby shall at aay time thereafter be held to be a waiver of th~e terms hered or of the note secured hereby: _ 12. Tl~at if the mortgaga_ default in any of the covenents a ag~reements coataiaed heceia, or ia said aote, then the mortgagee may perform the samg. and all expenditutes (inclnding reasonable attaney's Eees) made by the modgagee in so doing shall draw interest at the rate set fath in the aote secuced hereby, and shall be repayable immediately aad without demaad by the mortgagor to the matgagee, and. together with interest and costs accruing - thereoa, shall be secured by this mostgage. 13. that the mailing of a aritten notice a demandaddcessed to tbe owner of record of the matgaged premises, or directed to the said oaner at the last eddcess actually furnished to the mortgagee, or directed to said avner at said modgaged premises, and mailed by the United States mails, shall be~ sufficient ootice and d'emaad in any case arising under this instcua~eat and required by tbe provisioas hereof oc by la~v. 14. The mortgagor further cavenants that should thia matgage and the nae sec~ued hereby not be eltgtbie for insurance under tbe Natiooe! HousinQ Act within. SI$ .HONTHS from the date hereef (written statement of any officer of the Departnient af Housiag end Urban Development or suthocized ageat aE tbe Secretacy af Nous- ing aad Ucban Developmeat dated subsequent to.~ the SI$ 1[ONTH3 time from the date of this martgage, decliniag to ias~ue said nete aud this matgage, being deemed coaclusive proof of such iaeligibility), tbe mortga- gee a the holder af the note may, at its optioa, declare all snms secured bereby immediately due and peyable. The covenaats herein coataiaed ahall bind, aad t6e benefits and advaatages shall inure to, the respective heics, executors. administrat«s, successas, end assig~s af the pacties pereto. Wbenever us~d, the sin8ular aum- ber shall include the plural, the plural the singular, and the use oE any gender shell include ~11 geaders. , • _ aooK 185 P,~ y~ , ~ . ~ _ _ _ _ - - _ _ _ . M~ : ~