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Home My WebLink About1080 .~:r ~ ~'~t ' . . :~f'~j 1 S. 'I'IMt la wIU pK~It. cowdt. a suiter aa waste. iap~ira~eat. a de~iontioa d sald p~opeKy o~ any Wtt ' ~tbeceof; aad fa tiie eveat af tAe t~Ilree d tb~ so~tp=a to k~ec tM buildlap oa said pee~ises aud those tob~ erectsd oa iraia prewises. o~ i~prove~e~s t 1~ ti~ ~aoetp~ee ar eake atich rep~Ls as ia ib ~ 't~ ~ dtscretloa k~q? d~e~ ~s~xts~? Eoc tlw ~~se~~ aad We foll ~woud of eacb aad every such p~yweat sb~U b~ i~~ediately due asd p~y~ble. and sh~ll be secuced by the 11e~ ot thh eortp~e. ` 6. Tf~t be wtlt pay •il ~ad sla~yla~ the casts. cluu~es. ud espeases. iacludias ceasaaable 4wyec's Eees, ' apd cost~ of ~bstr~cts d title~ iac~ned a~ paid ~t aay tlae by the moet~agee bacause of the failure vn tbe pad of tbe moct~ga pra¦ptly ~nd fuUy to petfam the a~roeeaeats and coveaaats af sa~~Id p~ooissory uote aad tbls woet- ~aee, a~ad sald ccsts, clwrges. aed expeases slall be im~aediotely due and poyable aad shall be secured by tbe lt~a d thls matgage. ' 7. Ttiat he will keep tbe iapro~veaieata aow existiag o~ l~eeeaitec ecccted oa tbe matgpeed pcopecty. iasured as ~ be requiced fros tioe to tire by tbe matgagee o~aiast less by fire and other b4sards. casuolties. and contia- ~ geacies iu snch amouats Aad tac such periods as may be requirad by matg~gee. and wlll pay promptly. whea due. aay pree~iwss oa such iasur~nce for ppyment of w6kh pcovlsion has aot beea m~de hereinbefae. All insuraace shall be carried in ca~nies appcoved by doetgpgee ond the policies and reaewals thereof shal! be beld by mat- gpgee end 6ave aKacbed thereto loss peyable clauses in favoc of and ia forw accepiable to the modgagee. Ia event af loss 6e will give immediate notice by aail to matgagee, aad mortgagee may malce pcoof of loss if not mede promptly by matgagor, aad each iasurance compeny concerned is hereby authocized and directed to make peyment fa snch loes directly to mortgagee iastead of to moctgaga aad ~aatgagee jointly. aad the insuraace pro- ceeds. oc aay part theceof, may be applied by matgagee at its optioa either to the reduction of the indebtedness hereby secured a to the restor~tion a repair of the property damaged. Ia erent of foreclosure af this e~ortgage oc ~ ot6er traasfec of title to tl~e mortg,aged property ia e:tiaguishment oE the iadebtedness secured heceby. all right. title, aad intecest of ibe matg~?~a in aad to any insarance policies thea ia focce shell pass to the purchaser or ~YlltlC. 8. Tbat the matgagee oay. ~t any ttme peadiag a suit upoa this mortgage, apply to the court haviag jurisdic- tion t6ered fa the appoiatment af a receiver. and such court s6all forthwith appoint a receiver of the premises covered hereby all a[d singulat. inclndiag all and siagular the income, profits. issues, and revenues from whatever source deiived, each and every of ~vhich. it being e:pressly understc~od,.is hereby modgaaged as if specifically set fodh aad described in the grantlag aad 1?abeadus clanses hereof, aad sucb receiver shall have all the broed acd effective functioas and powers in eaxwise entrusted. by a co~t to a receiver, and sucb appoiatment shall be made by such couct as an admitted equity aad a matter of absolnte tight to said mortgagee, and vvithout refecence to the adequacy or inadequacy of the value of the propedy mortgaged or to the solvency a insolveacy of said mortg,agor or the defendents, aad that such reats, profits, . income, issues, aad cevenues shall be applied by such receiver according to the liea of this matgage aad the p~ct~ of s~h rourt. In the event of any default on the pad of the mortgagor hereunder. the matgagor agrees to y o;~he; gagee oa demand es a reesoneble monthly reatal for h the premises an amouat at least eqpivaleat to~~-taeH~l/12) of the aggregafe d the twelve monthly iastall- ments payable in tbe then current year plus the actual amount of t6e annual ta~ces, assessments, water rates, and ~ insurance premiums for such yesr not covered by the:a~faesaid monthly payments.. . 9. That (a) ia t6e event of any lxeach of this mocteage or deEault on the pa~t of the modg,agor, or (6) ui the event thet any of said sums of money herein referred to be not pcomptly aad fully paid without demand or aotice, or (c) in the event that each aad every the stipulatioas, agreements, conditia~s, aad covensats of said note aad this matgage. are aot duly, promptly, aa! fully performed; thea in eitber oc any snc6 eveat, the said aggcegate sum mentioaed in said aote then remaiaing nnpaid. with iate~t accrued to that time, aad aU _moceys secnced hereby, shall become dne aad payable focthwith. or thereaker, 'at the optioa of said mortgagee, as fully and com- pletely as if all af the said sums of moaey ~vere origiaally stipulated to be ~eid oa such day, aaything in said note oc in t6is moctgage to the contracy ad~vithstaadiag; and_ theceupou or thereafter, at the option af said mortga- gee, without aotice or demaad, suit at law or in equity, may be prosecuted as if all moneys sec~ued hereby had matured prioc to its institntion. Tbe mat~agee mey foeeclo~e this mortgage, as to the amount so declared due aad peyable, and the said premises shall be sold to satisfy and pey the same together with casts, e:penses,aad alluw- ; ancesr ta case of partial foceclosuce of t6is matg~age, the mo~tgaged premises shell be sold subject to the con- tinuiag liea d this moctgage for the amou,nt 9f the debt np#,then d~ aad unpaid. Ia snch case the provisions of ~ this perag~aph may ag,ain be availed of theceafter from time to time by d~e aatgaaee: ' . ~ 10. That the mortgsgor will give immediate notice by mail to the mortg,egee of any conveyance, transfer, a { change of awaetship d the premises. ~ 11. That no ~vaiver of aay covenant herein or of the obligatioa secured 6ereby shall at any time thereafter be ~ held to be a waiver of the terrns hered or of the note secuced Lereby. 12. T6at if the matgagor default in any of the covenaats or agFeemeats coatained herein, or in said note, then the mortg,egee may perfocm the samg, and all e:peaditures (inclnding r~sonable attaney's fees) made by the mortgagee in so doiag shall draw interest at the rete set fat6 in tLe aote secured hereby, and shall be repayable immediately and withont demand by the matgaga to the mortgagee, and, together wit6 interest and costs accruing thereon, shall be secured by this modgage. - 13. that the msiling of a written ndice a demandaddressed to the o~aer of record of the mortgaged premises, or directed to the said oqvner at the last address actually furnished to the matgagee, a directed to saidoqvaec at said a~o~tgaged premises, and mailed by the United States mails, shall be sufficieat cotice and demand in any case arisiag ander this iastcnment and required by tbe provisions hereaf oc by law. 14. The mortgagar coveaents and agcees that so loag as this matgage and the said aote secuced bereby are ins~ued nndet t6e provisioos of t6e Nati~x?al Honsing Act, he will ad eYCCnte or file for record any instrument which imposes a restriction upoa the sale or occupancy of the mortgpged propecty on the basis of rece, cola, or cceed. Upon any violatian of this uadettaking, the mortgagee may, at its option, declare'the uapaid balance of the debt secured hereby immediately due and payable. 15. The . mortgagor further coveaants tbat should this moFt ge and tbe note secured hereby aot be elig~ble f~ insurance undec the Natlaoal Housing Act ~vithin from tbe date hereaf (written statemeat of any officer cf the Depertmeat of Nousiag and Urban Developmeat a a~haized agent af the Secretary of Hous- ing aad Urbaa Development dated subseqnent to the ~ QA~ time fcom tbe date d this mortQ,age, decliniag to insure said noRe and this matg,ege, being deened conclnsive proof of anch ineligibility), the mortga- gee a the holder af the note mey, at its option. declare all siims secured hereby immediately due and p~pble. T6e covenents herein coatained shall bind, and the benefits and .advantages shall iaure to, tl~e nespective heirs, executors, admiaistrators, sncxessucs, and assig~s af the Quties Lereto. W6enevec used, the siagular num- ber shall include the plural, the plncal the singular, and the use of any gender shall include all genders. , $~i85 ~i081 ~ _ ~ ~ . _ - - - - . _ - -