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Home My WebLink About1367 ~ e ) • • S. 1'6st be will psreit, caamit, qr sµi~~0~ ~ast~ t. o~ d~teclantia~ oE s~Id p~opedy a any put th~reof; aAd lu tl~e tveat ot the fajly~etoE t,/?o~tp ~pt~ bulidlap oa s~id pcemises ~nd thos~ tob~ ee~cted ca sald qesises. or iapwveaieats thse~eoa. ia ~ood iep~4. tb~ awetppt o~ay ealo~ such ~ep~lrs as la lb dl~cestlon it M~ dMw a~o~ss~rp'~a tbt p~opec pc~sKVatioa tlrnaE~ .ad th~ full ~~wuM ot e~c6 ~ud ~ve~y suc6 pyrmeat sirtl b~ ~s*ediably dw ~ad p~yrble. u~d shall b~ secured dy the li~n ot tbh oatp~e. . 6. Th~t b~ wlll pay aU aad slnRular the ca~ts; cbu~p~. ond e:peases. iacludia` ceosoaabla lawyer's Eaea. snd costs 6E abstracts of tltle~ lacuned cr p~id at any tioe by the aatp~~s bec~use of tbe fallure aa the p~d cf tb~ n~at~goc pe~o~optly aad fully to psdaa tbe astee~aeats and coveaaats af s~id pcoadssay note ~ad this Aoet- ~ase, and sold costs, charges, oad e:p~ases sLall be i~o~edi~tely due aad payable oe~d shall be secured by the llen d this aioct~ge. 7. That be wiU keep the imp~ovemeats aow exiating a hereaEtec erectei oo the ratgp~ed pcopedy. Iasueed u may be raqulred from time to time by the matgagee a~ainst lcss by ftre aad other 6asuds. caswlties, acK: ~~!!~~a- geacies ia su..h aawunb and fa such periods os may be cequired by mat~agee. aad wIU p~y pcomptly, wben due. aay premlums oa suc6 ir~suraace tor poymeat of wbich pcovlsion bas aot ~sen made 6erelabeface. A!1 insutance shali be carried ia cwapenles approved by matg,agee and tlk policies aud re~eewals thereof sball be held by mat- gagee ead have attacbed thereto loss payable clauses in fava of and ia fo~m accepteble to the mort~agae. In eveAt of loss he will give immediate aotice by mail to mortgragee. aad mortgagee may maloe proof of loss if aot made promptly by matgagor. aad each insurance compsay coacemed is hereby authorised aad d'uected to ioake peymeat for snch lo~s dieectly to mortgagee instead of to matg,agoc aad matg~gee jointly, aad the iasuraace pco- ceeds. a aay pert thereof. may be applied by moctgagee at its optioa elther to the reduction of the indebtedaess heceby secuced oc to tlK restotatioa aa repair af the propeKy damaged. Ia eveat af focecle~ure aE this mortgage oc othec transfec aE title tu the matg~gied property in extiag~isbmeat af the lndebtedness secured hereby. ell right. title, aad inteceat. af the ooctg~agac in and to any insuraace policies thaa in fucee shaU pass to the pucchaser or g~antee. , ' 8. ?hat the moetgagee may, at any time peadiag a snit upoa tb~s matg,age. opply to the court haviag jacisdic- tion thereaE fa the appointmeat cf a receiver,,aad sach caut ahall fathwith appoint a receiver of the premises covered hereby aQ aad sirigular; iercludiag all aad singular the iacome. Prafits, issties. aad cevenues from ~vhatever - source decived, each and every of which, it being expcessly uaderstood. is heceby moctgaaged as if specifically set fodh and described in the graatiag and habendwn clauses hereoE, aad snch recelver-shall have all the braed and effective functioas and povvers. in anyarise entrusted by a,couct to a receivec, nod such appoiata0.eat shal~ be made by sucb couit as aa admitted equity aad a matter of absolate right ta~ said matgpgee, aad withait refeceace to the adequacy ~ inadequacy of t6e value of the propedy mortgaged ot to the solveacy or insolvency of said mortg~agoc or the defendeats. and that such ecnts. proEits, income, issues, aad cevenues sball be applied by suc~ ceceiver accading to the liea of this martg,age sad the practice of such caut. In tUe event of anp defonlt on the pert of the modgagor hereunder, the matgagor agcees to pay to the moct&agee on demond as a reasooaW,e ~tLl~? rental for the premises an amouat at least eqpivalent to oae-twelhh (1/12) of the agg~eg,ete af thetttr~~,s bwnthly i.astall- a,ents payable in the then curce~t year plus the actual amouat of the anaual tases. assesslAents, water rates, aad insurance premiums for snch year aot covered by the aforesaid mosithly payments. _ Q 9. That (a) in the event of aay breacb of this modgage or default an the part of tbe mottg~gor, or (b) in the eveat that any of said sums of money hereia referred to be aat ~omptly aad fnlly paid vrilhoGf demand or notice, ~ or (c) in the event that eac6 and every the stipulatiais. ag~eements. conditious. and coveaants of said note and ` this moctgage, are aot duly. promptly, and fully performed; then in either oc any sucb eveat, Lhe said aggregate ~ sum meationed ia.said nate thea remaining ~mpeid, aith iateneat ac~crued to tl~at tise. end all moneys secnred ~ heceby, s6a11 become due aad peyable focthwitb, ac thereaftec, at-the optton af said mactgsgee, as fally and com- pl~tely as if all cf the said sums ~ money wece originslly stipulated to be ~paid on sucb day, anything ia said aote a in this modgage to the contrary aotwitbstanding; aad tbereupon or thereafter, at the optioa of said moctga- gee~ without notice or demand, snit at law or ut equity, may be pcosecuted as if all-moneys secured hereby 6ad matured pria to its institution. T6e mott~agee mey_ foreclose this mortgage, as to the amou~ so declared due oad payable, and tbe said premises shall be sold to satisfy.aad pay the same together with costs, e:penses,and allow- ances. In case of pertial foceclo~un of this moct~ge. tLe moctg,~ged pcemises shall be sold subject ta the con- tinning lien of this mo~tgage fac the amouat of tne debt nd then due sad nnpaid. Ia such case the pcovisioas of this paragraph may again be availed of thecesRer from time to time by the matgagee. ~ 10. Thst the mottgagor wilt give immediate notice by_ mail to the modg,agee oE any conveyance, transfer. a chaage of aaPaers6ip af the premises. . 11. That no waiver of any coveaant herein oc of the obligation secured 6ereby shali at any time thereafter be held to be a.waivet of the tetms heseof or of tLe aote secuced hereby. 12. Tfcat if the matg,aga defeult in any of the coveaants or agreeaeats contained herein, oc in said aote, then We mortg~agee may peifocm the samg, and all e:penditnces (inclading reasoaable attoraey's fees) made by the mortgagee ia so doiag shall draw interest at the rete set fath in the nde secne~ed hereby. and shall be repayable- immedistely and Mrithont demand by t6e mortgagoc to the matgagee, aad, together ~vitb iatecest and costs accruing thereoa, slwll be secured by this modgage. 13. tlwt the mailing of a written aotice a demaad addressed to the owner af rececd of t6e matgeged premises, , or directed to the said awaer. at t6e last address actually farnished to the matg~agee, oc-directed to said o~vner ai said mortga~ed pnmises, and meiled by the United "States mails, shall be sutficient Aotice and demaad in any case arising uoder this instnueent and reqnieed by the pravisions 6ereof oc by Ia~v. 14. 'i'fie mortgagac coveoaats and egceea tbat so lon$ as this matgpge and tbe said note secured hereby aie ins~ued under the pravigioas of the Natioaal Housiag Act, he will aa~t e:ecute~or ~file foc•record aay instcument which imposes a cestrictioa upon the sale or occupancy of the mortgaged pcopedy on the besis of race. cola, a creed. Upon any violation of this undertaking, the mortgagee may, at its option, declare t6e unpaid balaace of the debt secured heceby immediately due and payable. . 15. Tbe mortgagor-further coveaants thet should this m«t~ge and the aote secured heieby not be eli~ible for iasurance uader the Natiooal Honsiag Act within 30 DAYS date heeeaf (wcitten stateioent of any officer of the Departmeat ~ Housing and Urben Devel,~~ Qment or authaised ageat of the Secretary of Hons- ing and Urbaa Developmeat dated subsequeat to the 30 tJI~YS time from the date of this matgpge. decliaing to ins~ue said note and this niottgage, being dcea~d caaclusive proof of snch ineligibility), tbe moctga- gee oc t6e holder af the aote may. at its option, declace all sums secnred ~eraby~ iomediately dne and payable. The eoveaants heceia~contained shell bind. and the benefits aad ~dvsateges shall innre to, the respective heirs, execntas, administcators, snccessars, aad assigps of tbe partiss baretd. ~ever ~sed. tbe singular num- ber shall include the pliual, the plnral the siagulaF, aad the u~e of any ~ender shall include all genders. ~ ~0~185- ~1368 i ~ , t_ - ----.r-