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Home My WebLink About1372 1„/ ` S. Tat he w1U per~it. caMlt. a safter~~e~ ~p~~. a d~tKN~tioa oE s~id pcopeety or aaY put th~eof; ~od i~ tb~ weat of th~ t~ilure cf tlw ~o~tp~a to k~p tl~ bulldtap on said preais~s awd thos~ tob~ erected aa s~ld p~wb~s. or iwp~ovteests tbeseca. in ~ood cep~fr~ tlw wo~tppe a~y w~ke auch cep~irs as ie lb djscr*tlo~ it ~y dst~ aso~su~? Eo~ tb~ pcops~ ~tia~ tb~reat. aad tl~ f~ll aaaunt ot eacb 4~d ~very such ' p,yaieat s1Nt1 b~ ie~ediac•ly due and p.y.bla, .ad sb.ll b~ s.cmed by cbe llea c[ this aiatp~s. 6. Tlwt he wil! p~y ai! aad s~ular the casts, cbu~es. aed expeuses. iacludla~ ceosonable 4wyer's tees~ ~nd casts of ~bstncb d title, iacuered a pald ~t apy tles by t6e aatpesa becawa oE the tdlure oa the p~rt oE tb~ aiatpga p~oeptly and tuQy to pecfam the a~,cee~eats snd covea~nts af sald promissay note aad this mat- pge. and sald caari. charges. and expenses s6~11 be immediately due ~ad pnyable and shall be secured by tbe ltea d this moet~age. 7. That he wiU keep the impcovemeats now e:isting a heceafter erected on t6e ~at~~ed pcopeety. ieu~ued aa nuiy be requicad froa? time to time by the matgagee agaiast loss by fite 4nd otbec 6asards. caswlties, tad coatla- geactes ia snch amounb aad Eor such pedods os awy be reqnlred by e~atgagee. and wiU pay pto~optly, whea due, any premiuos oa such iasnraace foc payme~ of which provisl011 ~If1f IIOt ~11 ~Yd! ~IQieLQ~CEO[e. All iasutaace shall be canied ia co~aies appcoved by matgpgee and tLe policks and renewals thereof shall be held by mat- g,egee and have attacbed thereto loss payable clauses in fava of aad ia Eccm acceptable to t6e mortgpgee. In eveat of lo~s be Mrill give immediete aotice by meil to moctg,~gee. and me?tgagee mey make proof of loss if aot . mnde prom~tly by matgagor, and tach Iasucaace .compaay coacerned is hereby authorised aad directed to make payment foc snch loss dicectly to mortgagee iastead of to matg,pga and matgagee joiatly, ead the insucaace pro- ceeds. oc aay part thereoE. mey be epplied by matgagee at its optiou eitber to the rednction of the indebtedness hereby secuced ot to the cestoratioa oc repair af tbe propedy damaged. In eveat at faeclos~ue of this mortgage a other ttansfer of titk to the moitgpged pcoperty ia e:tinguisha~eat oi the indebtednesa secured beceby. all right. tltle. aad inteeest o[ the mat~ager ia and to any Iasuraace policies then in focce shall pess to the purc6aser or g~ntee. - - . 8. That tLe no~tgagee mey, at aay time pending a suit upoa this matgage. aPPly to the couct haviag jncisdic- tloa tbereaf fa t6e appoiatment cf s receiver, aad such couct shall _fat6with appoint a nceiver of the premises covered hereby all and sL~gulu, iacluding all and singnlar the iacooe, prcElts. issues, s~ad revenues from whatever source derlved, eac6 and every of whichr it being expressly uadecstood, is heceby moctg,aged as if specifically set : forth aad described ia tbe gcantiag aad habendum clauses hereof, and snch receiver shall hsve all the broed aad effective functions aad po~vecs ia anywisa entrnsted by a court to a Receiv~r. aqd such appointmeat shall be made by such court as aa admitted equity and a matter af absolute rig6t to said matg,agee, aad qnt cefereace to the _ adeqnacy or inadequacy of the value of the ~opedy matgaged oi to the solveacy a~i~`~ said mortgagor or the defeadents. and that such rents, profits, iacome, issues, aad cetienues shall be apptied ~y such receiver according to the lien of this mortgage and the prsctice of suca couct. In tLe eve~ af aay defanlt oa the part of the modgagor hereunder. the matgagor agrees to pey to the mortg,agee on demand as:a reasooable mont6ly reatal for _ the premises ea amount at lesst eqqivalent to oae-t~vetfth (1/12) of the aggreg,ste_ af the tnvelve monthly install- ments peyable in the thea curreat year plus the actual amount oE the aanual t~es, assessments, water rates, and . insurance premiwas for such year nat covered by the afocesaid monthly peyments. 9. That (o) ia the event oE aay breach of this mortgege or default on the pad of the mortg~sg~, or (6) ia the ~ eveat that any of said sums of moaey hereia cefetred to be aot pcomptly and fully peid ~vithou'f demand or notice, or (c) in ihe eveat t6at each aad every the stipulatioas. agFeements. canditioos, and covenaats of said note and this mortgage, are not duly. pcomptly, and fully performed; then in either oc aay snch eveut, the said aggRegate sum- mentioned in said note thea cemainiag unpeid, with inte~est aocroed to tLat time. and sU moeeys secnred hereby, shall become due aad payable f«thwith, ac thereafter, at the option of said moctgagee, as fnlly aad com- pletely as if all of the said sums of money ~vere originally stipulated to-be ~eid oa snch day, aaythiag ia said note or in this owdgaga to the coatrary ndwithstandiag; and tbereupoa a thereafter, at the optioa af said matga- gee. ~itltout notice or demand, suit at la~v or in equlty, may be prosecuted as if all moneys secared hereby 6ad ~ matuced ptia to its institutia?. The e~atg~agee may foreclo~e this mortg,~ge, as to the amount so declared due and ~ payable, and the ¢aid pcemises a6a11 be sold to satisfq and pay the seme toget6er with costs, expenses,and allaw- ances. In case of pacttal ~oceclosure of this moctg,age, the moctg,aged pcamises shall be sold subject to the con- tinuiag Uen of this matgage foc the amow~t af ti~e debt not then due aad unpaid. In such case t6e provisions of this peragraph may ag,ain be availed of theseaiter from time to time by the matgagee. 10. That the matg,agor wlll give immediate notice by mail to the moctgragee of any coaveyance; tcansfer, a chaage of owaership of tl~e premises~. 11. That no waiver of aay coveaaat herein a of the oblig,ation secnred hereby s6a11 at any time thereafter be held to be a waivet of the terms bered oc of the note ~ecuced hereby. - 12. T6at if the moctgagor.default ia any af the covenaats a ag~eemeats contained becein; a~ in said note, then the moctg,agee may perfocm the samg, aad all ezpenditnres (inclnding ceasoaable attaney's fees) made by the mortgagee in so doiag s~all draw interest at the rate set fath in the note secnred heceby, and shall be repeyable im~nediately and witboat demand by the matgagoc to the mortgagee, and, together with iaterest ~aDd costs accruing tl~ereon, shaU be secmed by this modgage, ~ 13. that the mailiag of a written notice a demaadaddressed to tbe owner oE record of the matgaged Qremises, F or directed to the said o~vaer. at the last address actnelly fnraished to the mortgagee, a dicected to seid o7vnec at said mod€,e~ed- pre~ises, and mailed by the U~eited States mails, shall be snfficient notice and demand in eay case arisiag nnder tbis iaatrnment and reqnired by the prarisieas 6ereaf or by law. ~ 14. 'fhe moctgagoc cavenants and agFees tbat so long as this matgpge aad the said note secured Lereby are insured muler the pravisions af the Natioaal Housing Act, he wiQ aot e:ecute or file for record any iastrument which imposes a restricti~ upoa the sale or occupancy af the moctg,eged pcopedy oa the basis of rece, colac, or ~ cceed. Upon aay violatioa of tbis undectakiog, the mortgagee may, at its option, declere the unpaid balance of the ` debt secarsd hereby immediately d~ sad payable. ~ 15. The mortgagor f~uther covenaats that should this matgage and the note secured bereby not be eligible f« ~a~ c~t xeuo~t Ho~i~g ~~t W~t~ 30 pAYS from tl~e date 6ered (wrtttea statement of any officer of tbe Department of Honsing and Urbaa Development or a~haized ageat af tLe Secretary of Hous- ing aad Urban DevelopmeM dated snbseqnent to t6e 3~A~ time from the date of thia mortg,age, declining to iasure said note aad this ooctg,age, being dee coaclnsive pcoof d such ineligibility), the mortga- gee a the holder af the aote may, at its optian, declare all snms secured bereby ima~di~telq dus and peyable. The covenants herein contained shall biad, and the benefits and advanta~es ahall innre to, the respective heics, executors, edaunistrators. snccessors, aad assigns d tbe parties 6ereto. Wheaevec used, the singular aum- ber shall include the plural, the plural the siagular, and the nse of aay geadec: shall iaclude all genders. . dooK~85 P~~~373 - ~U .:s - ~ _ ~ .