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Home My WebLink About1469 • ~ . . . S. 'Mwt be wiU pecalt. ccasit. at sufEec ao w~ste. l~piir~at. cr ~4te~la~tioa of stid pcope~ty or any put os tbereot; ~nd to the eveat cf tM fajlure af tb~ ~ator to kee tbe bulldiap oa said p~emises aad Wos~ tobe erectod oa s~id pcewises. o~ Iepcoveoents.t~rlop~ i° t lai t6~ mat~eee eoy ~oalce such rep~lrs as Ia ib discretioa it ~y deem ascessuy Eoc ths p~ope~ preserv~t tbe~eof. and tbe tull ae~ouat ot e~ch aad evecy sucb p~y~eat sh~ll b~ ~nediately due aad payable, and shall be secured by the lie~ oE thls matea~e. ~ 6. 'Mat be will poy all aad sia~ulor We casta. cltu~es. and expeases. iacludia~ reosoaable lpwye~'s fees. aad costs of abstracts of title, iacu~red a p~ld at u~y time bythe. matga~ee bacause af the toilun on the part of } tLe moct~aga pcom~tly aad fully to pecEorm tbe agReeseats aad coveaaats of said pcomisaory aote ~od t6ls mat• ~ ~ge. and said costs. chorges. aad expenaes qhall be immedl~tely due aud poyable and, shall be secuced by the ltea af tbis aiatgage. 7: That he wiU keep the~ impco~veaents aow e:istiag a 1~ee~eaftec e~ected oa tbe matgaged property, iasnrcd os • moy be cequired froo time to tlme by tbe matga~ee agaiast lo~ by fice ~nd other huards, casualties. ~ad coatin- geacies ia such aaauats aad foc such peciods as awy be ccquiced by mort~agee, and wiU pay promptly, w6ea due. aay presiums on such iasuraace for paymeat of which pcovisioa !ws aot beea ~ade heceinbefoce. All iasuraace . slw~ll be cacried ia compaaies appcoved by mort~agce aad the policies aad reaewals thereof shall be held by mat- gpgee and have attached tbereto loss peyable clauses ia favac of aad ia focm acceptable to the modgpgee. In eveat of loss he will give immediate aotice by nwil to matpgee. and matgagee mey make pcoof of loss if not made promptly by matgsga. aad eac6 iasuraace canpeay coocemed is hereby authaiaed and directed to make ~,aymeat E« snch lo~s aieeccty co mocc~agee instead of co mo~c~eg« and a,at~$ee Joiatly. aad tbe insurence pro- ceeds, oc aay pait thereof. may be applkd by mortgagee at its optioa either to t6e reductioa of tbe iadebtedaess heceby secuced a to the restaatioa ac repeir d the propedy damaged. In eveat ef foreclo~ure d this mortgage or other traasfer oE title to the mortgaaged property in extiaguishment of the iudebtedaess secnred hereby~ all right, title, and iater~st of the mortgagar ia aad to any insurance policies then ia Eacce sball ~pass to the purchaser a~ gRantee. 8. Tl~et the ~oo~tgagee eay, et any time petiding a auit upon tbis matgage. apply to the court having jucisdic- tioa tbereaf foc tbe appointmeat of ~ receiver. and such caut slwll focthwith appoiat a receiver of the premises coversd hereby all and singnlar, includiag ell sad siagular the income. profits, issues. aad revenues from whatever source derived, ~ac6 and every of whiGh, it being expcessly understood. is hereby moctgaged as if specifically set fodb aad described ia the g~anting and habeadum clanses hereof, and suc6 receiver shall have all the broad and effective fw~ctioas and po~vers in aaywise eatrusted by a court to a receiver. aad suc6 appoiatmeat shall~be a~ade ~ by snch caut es aa admitted equity and a matter of absolute right to said matg~gee. ard ~vlthout reference to the adeqnacy or -inadeqnacy of the value of the propedy mortgaged or to the solve~y o~ iasolveacy of said moctgagor or the defendents. and that such reats, profits, income, issues. and revenues shall be applied by such receiver accordiag to the liea of tbis mortgage and the practice of snch caut. In the eveat d any default on the pad of the modgagor herennder, the matgagor agcees ~to pay to the mortgagee oa demand a~ a reasooable moathly rentel for the premises an amount at least eqpivalent to oae-twelfth (1/12) of the a g,ate. cf the° twelve monthly install- meats payable in the then cu~reat year plus t6e actual amouat of tbe anaual t~es, assessments, water rates, aad insnraace premiume Eor suc6 year nd covered by the afocesaid moathly paymeats. 9. Thet (o) ia the event of aay bresch of this modgage or default en the pnd of the mortgpgor, or (6) in t6e . event that any of said sums af money herein referred to be aot promptly and_fnlly paid ~vithout demand oc notice, or (c) ia the eveat that esch aud every the stipulatioas. agreements, coaditioas, aad coeeaents of said note and this nnortgage. are aot duly~ promptly. and fully perfora~ed; thea in either or any such eveirt, the said eggregate ' sum mentioaed ia said aote then remaining unpaid, ~vith interest accrued to that time, and all iaoneys secured ' hereby, shall become dne aad peyable fortMvitb, o~ tbereaRer; at the optioa of said moctgagee, es fully aad com- pletely as if all d tbe said s~ms oE money were ociginally stipulated to be peid on snch day. anything ia said note at in this moitgage to the coatracy adwithstandiag; aad tbereupoa or thereafter, at the option of seid matga- ; gee, without notice or deaiand, suit at law or ia equity, _ aay be prosecuted as if all moneys secuced hereby had € matured prior to its iasti!ution. The moctg,egee a~ay foceelose this matgege. as to the amonnt so declarea dae and ~ peyable, and the said p~emises shall be sold to satisfy and p~y the s~me together ~vith costs, e:penses,and allow- ~ ances. In case of pertial foreclasure of Wis matg,age, the matgaged pcemises sl~all be soW subject to the con- tinuing lien o[ this mortgage for the amount of the debt aot then dne and unpaid. In s~ch~ case the pcovisioas of ~ this peragraph may ag,sin be availed of.thereafter from time to time by ihe mortg,agee. 10. That the mortgagor aill give immediate notice by mail to the mort~agee of aay conveyance, transfer, or change of aavnership af the premises. 11. Thet no aaiver of aay covenaat herein or of the obligation secored hereby s6a11 at any time thereafter be beld to be a waiver of the terms hereaf or of tbe note secured hereby. 12. T6at if the mortgagor default in any of the covenants or egreements contaiaed hereit~, br it1 s~id note, then the mortg,agee may perEorm the samg, and all expenditnres (inclnding reasonable attaraey's fees) made by the mortgagee in so doiag shall draw interest at the rate set fath in the nde secared hereby, and shall be rep~yable ~ immediately and aithont demand by the mortg,agor to the mortgagee, and, together ~vith interest aud costs accruing thereon, shall be secured by this modgege. ~ 13. that tl~e msiling of a written aotice or demandaddressed to the owner of recocd of the mortgeged premises, or directed to the said o~vner at the lest address actuelly fnrnished to the mortgagee, or directed to seid awaer et _ said moctgaged premises, and mailed by tbe United States a~ails, shall be sufficient notice and demand in snq case arisiag ander this iastrument and reqnired by the pcovisiaas hereof or by law. 14. Tbe mortgagoc covenants and agrees that ao loag as this matpge and the said note secured hereby are insured .under t6e provisia~s of Fhe Nationai Honsing Act; he will nd e:ecute of file for rec&d anq~instrument which impoees a restriction upon tbe sale or occupency of the moctg~aged ~opedy ot~ the basis of race, cola, or cceed. Upon any v;olatian of this undertakieg, the mortgagee may, at its option~ declare the unpaid balance of the debt secaced hereby immediately due and peyable. 15. T6e moetgagor f~rther covenants that shonld this mortgage and the aote secured hereby not be eligible for insureace nnder the Netiaoal Nousing Act aithin Z~ ]~gy~ from the date hec~eof (wcitten statement d any officei d tbe Department of Housiag and Urban Devel ment or autborized agent of , the Secretary of Hous- ing and Urbaa Developmeat dated subsequent to the ~y ysys time from the date of this motfgage. declining to iasure said note and this mortgage, being deemPd canclusive pcoof d sueh ineligibility), tbe moetga- gee oc the boldec d t6e note mey, at its option, declare all sums secured hereby immediately due and pQyable. Tbe covenants herein contaiaed s6a11 biad, and the-benefits aad adveatages shall iaure to, the respective heics, es~ecutors, administrators, successors, ead assigAs d tbe pad'us heietb. Nl~eaever ased, the singular nnm- ber slwll iaclude the plnral, the plural the singular, and tbe use of aay gender shall inclnde all genders. _ 600K185 ~1470 _ - _