The URL can be used to link to this page

Home My WebLink About1464 ~ i 1 . S. Th~t be wlll pe~mit~ commlt. a sufEec ao woste. lisp~trmeat. o~ detecicc~tlon oE said propecty ac ~ny p~K ~ tbeesof; ~nd In the event d the f~llun. a~ t= awrt~ tq keep the buildlag,s oa s~id premises ~ad those tobe •~ected oa s~l~d preatses. «~¦aow~aa ~on. 1q~~t bP~ir. tbe aatga~ee awy awke such repairs as ia lts discretlon It iwy dtem ae~cessary fa ths pcoper preserv~tion tbereof. ~ad tbe full amount oE each aad every such p~ymeat shall b~ in+aediately due aad poyable. oad shall be secured by the llen af tbis mortgage. 6. That he wlll pay all and siagular the costs. cb~u~es, aad expenses, includiag reosoaable lawyec's Eeas. ~ aad costs of abstrpcts cf tltle~ incurred a poid ~t aay tlme by the matga~ee becauae oE the failure oa the port of ~ tbe mortga~a promptly aad tully to perfam the a~reements aad coveaaats af said ptomisaory note 4ad this mat- ~pge. aad said costs. charges. aad expeases sball be imaiediately due and peyable aad sholl be secured by the lien oE thia mo~tgage. 7. That he will keep the improvements now e:isting oc hereafter erectad oa the matgaged propedy. insured as nay be required froa time to time by the matgagee agaiast loss by fire and other hasacds. casualties. and contia - geacies ia such amounts aad for such periods as nwy be reqnired by mortgagee. antl will pey promptly. whea dne. aay premiums oa such insur4nce for paymeat of ~vhich pcovisioa has aot been made 6ereinbeEaa. All insurac~e shall be carried in compaaies approved by moctgagee aad the policies and reaewals thereof shall be held by mat- g,agee and have attached thereto loss peyable clauses in favor of and in fo~m acceptable to tl~e modg~gee. In event of loss he will give immediate notice by mail to moctg,agee, and mortgagee may make prooE of loss if aot made promptly by matgagor, and each ic~suraace company coacerned is hereby authocized and directed to make peyment fo~ such lo~s directly to mortgagee instead ~ to mortgagu~ and matgagee jointly, aad the insurance pro- ceeds, or aay pad thereof. mey be applied by mortgagee at its option either to the rednction of the indebtedness hereby secwed or to the restoration oc repair af the propedy damaged. In eveat of foceclosure af this mortgage a other traasfer ef title !01he mortgsged propedy ia extingnishment of the indebtedness secured hereby, all rlght, title. and interest oE the matg,sga in and to aay iasurance policies then in force shall~pess to the purchaser oc g~ntee. _ ~ 8. That the matgagee may, at aay time pending a suit upou this matg~age, apply to the court heving jurisdic- tion thereof fo~ tbe appointmeat of a receiver. and such court shall forthwit6 appoiat a ceceiver of the premises covered hereby all aad singular~ iacludiag all and singular the income. profits, issues, and revenues from whatever soucce derived. each and every of wbich, it beiag ex~essly uaderstood. is hereby mortg,aged as if specifically set fodh aad described in the grantiag and habendum clauses hereof. aad such receiver shall have all the broed aad effective functioas aad powers in anywise eatrusted by a court to a receiver, $nd such appointment ahall be made by such couct as aa admitted equity and a matter of absolute right o said raqctfsgee, and without refereace to the adequacy or inadequacy of the value of the propedy mortgaged or ~$the solvency a insolvency of said mortgagor or the defendents, ead thet such reats. profits, income, issues; aad reveaues shall be applied by such receiver accocding to the liea of this mortgage aad the prectice of soch caut. Ia the event of any default on the pad of the modgagor hereunder~ the matgagor agrees to pay to the mortgagee on demand 'as a reasonable monthly reatal foc the premises aa amount at least eqpivalent to oae-twelfth (1/12) of the aggregate of the twelve monthly install- ments peyable ia the then current year plus the actusl amamt oE the annual texes, assessmeats, water rates, and insncance premiums for soch year not coveced by the aforesaid moathly peyments. . 9. That (o) in the event of aay breach of this mortgage or default on the ped of the mortgagor, or (b) in the eveat that say of said snms af money hereia referred to be nd ~omptly end Eully paid without demand or notice. or (c) in the event that each aad every the stipulations, ageeea~eats~ conditioa~s, and covenaats of said note aad this mortgage, are aot duly, promptly~ aad fully performed; then in eithe~ or eny such event, the said aggregate sum meationed in said note then cemainiag unpaid~ with interest accrued to that time, aad all moceys secuced hereby, shall become due and peyable forthwith, oc thereafter, at tLe option of said ma~tgagee, as f~lly aad com- pletely as if all of the seid sums of money were originally stip~ilated to be pa~ on such day. anything in said note or ia this modgage to the contrary notwithstanding; and tbereupon or thereafter, at the option of said mortga- gee. without notice oc demand. suit at law or in equity, may be prosecnted as if all moneys secuced hereby bad matured pcior to its institution. The mortgagee may foceclose this mortgage, as to the emount so declared due and ~ payable. aad the said premises shall be sold to satisfy and p~y the same together with costs, expenses,and allow- ~ ances. Ia case of partial foreclosure~ of this mortg,age, the moitgaged pcemises shall be sold subject to the ~on- ~ tiauiag lien of this mortgage for the amouat of tbe debt not then due and unpaid. In such case the provisions of this paragraph may again be availed of t6ereafter from time to time by the mortgagee. ~ 10. That the modgagor will give immediate notice by mail to the modgagee of any conveyance, transfer, or change of awnership oE the premises. 11. That no waiver of aay coveaant herein oc of the oblig,etion sec~ued hereby shall at any time thereafter be ~ held to be a weiver of the terms hereaf or of the note secured hereby. 12. T6at if t6e mortgago~ defeult in any of tbe covenants a ageeements contained hecein, or in said note, then ~ the modgagee may' perform the samg. and all expenditnres (including reasoneble attaaey's fees) made by the mortgegee in so doing shall draw i~terest at the rate set fath in the note secuced heceby, aad shall be repayable immediately and without demand by the mortgago~ to the mortgagee, and, together with interest and costs accrning thereoa, shall be secured by this mortgage. 13. that the meiling of a writtea notice a demand addcessed to t6e owner of record of the mortgaged premises, or directed to the said oaraer at the last address actually furnished to the moctgagee, Qr directed to said ovvner at, . said moctgaged premises, snd mailed by the United ~tates arails, shell be snfficient aotice aced demand in any case arising under this instcument sad tequired by the provisions hereof or by law. 14. The mortgagor covenants aad agrees that ao long as this mortg,age and the said note secured hereby are ~ insured under the provisions of.the Natiatal-Housittg Act, he will not execute or file for record any instrument ~ which imposes a restriction upon tbe sale or occupancy of the mortg,aged propedy on the basis of race, colac, or creed. Upon aay violation of this undertaking, the mortgagee may, at its option, declare the unpaid balance of the debt secured hereby immediately due and peyable. : 15. The modgagor further covensnts that should this mort_gage and th~ note secnred hereby not be eligible ~ for insurance under the Natioael Housieg Act within `~i LaTs from the-date hered (anitten statemeat ; of any_ officer of the Department oE Housing and Urban Development or a~ized agent of the Secretary of Hous- ing and Urban Developmeat dated subsequeat to tLe Thiity l~ays time -from the date of tbis modgage, ~ declining to iasure said note and this mortg,age, beiag deemed caaclusive proof af such ineligibility), the mortga- ! gee or the 6oldet af tlK nofe may, at its option, declare ell snms secured hereby immedistely due and payeble. ~ The covenants herein contaiaed shall biad, and the benefits and advanteges shall iaure to, the respective . ~ heirs, esecutas, administtators, successocs, and assigns af the parties h~eto. Whenevet used. tbe singular num- ber shall inclnde the pl~ual. t6e plnral the singnlar, and the use of any gender shsll include all genders. . aooK ~~5 ~i465 ~ t ~ . _ . . - - - -