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Home My WebLink About1666 ~ , . ~ e ~ ' r , e . j 5. '!'?~t h~ wIU pK~[t. cowolt. a sufter ao waste. i~p~frieat, a~~«.c~ at ~Kr a~r w~ tbee~eci; ~d i~ tb~ weet cE tbe f~ilure ot tht ~at~o~ to kaap t!~ brlldtnp a~ said pre~ises ud tLose tob~ enclod on sajd p.e.»... « i.prove.eacs ctreceon. iu ~ood e~p.~r. th. .wt~.~.e ..y ..ke :rcb Kp.us .s iu its ~ dl~cretio~ it ~r d~eai a~oessaqr fo~ tbe prop~ pcese~vatta~ tbeeeaE. aad tbe fnll ~iwunt a[ e~cb aad every sucti . paYeeat slMlt bt in~dlately due and p~y~bl~. and slwll bt secneed by t6e llea of tbis eoct~e. 6. Tiwt Iw wlll p~y ~ll aad slainlar the ca~ts. chu~es. ud expruses. isclndias ~sa~able lawyer's t~es. aad costa of ~bstracb of tttk, L~curred or p~id at ~ay time by the maet~,a~~e because of tbe failure oa t4e put of tbe ~soet~,sga pe~oioptly snd fully to pedaa the a~rse~eats and covea~ots af s~id p~osissay aote aod tbis eaet- ga`e; aua sald cests, cbar~es..aad expeases sball be ia~cdiately due aad p~yable aad shall be secured by tbe liea af this matga~e. 7. T6at he ~rlll keep the impcavemeats aow existiag a hereatter erected on tbe satgp=ed property, iosarod as awx be requlred from tlme to tlme by the mo~tgagee against lass by fie~e and otbec 6asards. casuailties. and co~io- gencies ia such amounts aad fo~ auch periods as may be ceqnlred by matgagee. aad wil! poy pro~ptly, w6en doe, aay premiums oa su~h Insurance Eor p~yment of Mrhich pcovisioa 6as aot beea ~ade 6ereinbefa~e. All iasurance slwll be carried ia comp4nies appcoved by mat~agee aad tbe policies and renewals tbereof slwl! be 6eld by ma~t- gsgee aad hav~e ~ttacbed thereto loss payable clauses ia favoc of aad in focv ~cceptable to tbe mortg~gee. In eveat of loss he wlll give immediate aotice by mail to matg,agee. aud moctg~gee may maloe p~oof d loss if nd made promptly by moctgagor. aad each insucance compeny concecaad' is bereby authaised aad directed to maioe peyment foc such loss directly to moitgagee instead of to matg,~gor aad matg,agee jointly. and the iasuranoe pco- ceeds,- or aay part thereoE. mey be applied by moctgagee at its optioo eitber to the reductioa oE the indebteilness hereby secured or to tl~e restocation or repair af the prope~ty daawged. In eveat d foreelo~~ue af this moctdage « othe~ trausfet af ttt~e to the matgpged propedy in e:tinguishment of tl~e indebtedness secured 6ereby~ all rigbt. title, aad 'u?terest af the matg,~gar in and to any insurance policies thea ia facce shaU pass to tLe qucbaser or g~rantce. 8. Tlwt the ~nortgagee may. at any time pending a suit upoa this moctg~age. apply to tLe caut lwving jwisdic- . tion thereaf foc t6e appointment of a recelver, and such caut shall fathwitb appoint a e~eiver uf the premises coveced hereby a11 aed singular, iaclndirig al~ and singular Lhe incotne. pmfits, issnes, and reveaues from wbatever . source derived, each and every ot which. It being expcesslq mderstood. is 6ereby matg,aged as if specifically ~et forth aad described ia the gRSnting and habeadum clauses heceof. aud snch e~eceiver sh911 bave all t~e broad a~ - effective fuactioas and po~vers ia aayarise entrusted by a court to a ceoeiner. aad snch appointmeat a6all be eade by such cou~t as an admitted equity aad a matter of absolate cight to said mortg,sgee, aad wit6ad referenoe to tbe adequacy or inadequscy of tbe value of the propedy matgaged or to the solvency a insolvencq of said 4atgpga or the defeadents. aad thet s~ich rents, prof its, income, issues, aod cevenues sball ~ be applied by sncL n~ceiver ~~~c!'~ne to !h~ li~~ o# this mortgage aad the pcactice of suc6 caut. In tLe eveat ef any default on t6e p~t of t6e awdgagor hereuadec, the matgagor agrees to pay to t6e matg,agee a? demand as a reasaasble ~onthly reatal fa the premises an ameunt at least eqpivaleat to one-twelfth (1/12) of the aggcegate af the twelve~~st~g- - ments peyable in the then current yesr plus the actual amount of the aanusl tazes, assess~ents, ter rates, and insarance premiums for such yeac not covered by the afaesaid monthly pay~ents. 9. That (a) ia the eveat of any breach of this mortgage ~ defaak oo tbe pact of the matg,agor, or (b) in tbe event that any of said sums of awney 6ereia referred to be not pcomptly and fnlly peid wit6oa`f demand oc natice, or (c) ia the event that each aad every the stipulations, agR+eements, coaditioos, and covenaats of said note and this mortgege, are aot duly. promptly. and fully performed; thea in either er sny sucb eveut, tbe said aggFeg,ate sum mentioned in said note then remainiag unpaid, with interest aocrae~ to ti~at ti~e, ana aii mooeys ~ecnred hereby, shall become due and payable forthwit6, or theresfter, at the option d said eat~a~e, as fnlly aad coe- ' pletely as iE all af tbe said sums of money ~vere originally stipulated to be {~aid on soch day, anythin6 in said ~ note or in this mortgage to the contrary nd~vithstanding; and tbereupaa or tlieceafter, at tbe option af said martga- ~ gee, ~rithout aotice or demand. suit at laa or in equity, may be prosecnted as if all oooeys secnred bereby bad matured prior to its institntion. 'Moe a~atgpgee may foeeclose this matgag~e, as to the aaonat so declared dne and ~ p~yable, aad the said premises sball be sold to satisfy and pey the same together witL costs, ~peases,and a11ow- ances. Ia case of putial f«eclo~ure of t6is matgpge, the moctg~~ed preaises sball be sold snbject to tbe coa- tinuiag lien of this matgage for the amonnt of tbe debt not then dne and m~id. In such case the pcavisioos of this paragraph may again be availed of thereaher from time to time by the mortg,agee. 10. That the mortg,agoc will ~ve ~immediate notice by mail to tbe mortpgee of any conveyance, transfer, a change of awaership af the premises. ~ 11-. That no waiver of any covenant herein or of tbe oblig,ation secured hereby shall at any time t6ereafter be held to be a vvaiver of the terma heced er of the aoto sec~ed 6erebq. 12. T6at IE the matgagar default ia any ef the covenants or ag~reements contained berein, a in said nde, tben the mortg~agee mey perfocm the samg, and all e:peadit~ues (inclndiag reasonable attaraey's fees) made by tbe mortgagee in so doing shall draw interest at the rate set factb in the nde secaeed 6ereby, and shall be rep~yable immediately ~and witlwnt demand by tbe mortgaga to the matgagee, atd, togietber with iaterest aad costs accrning thereoa, shall be secnred by this mortg,age. _ t~at t!~ mailiag of a written notice er demandaddressed to the owner af record of tbe matg,aged preoi~es, or directed to the said o*rner at the last sddress actneUy fnrnisbed to the matg,sg,oe, a di~ected to said ownes at • said modgaged premises, and mailed by the Uaited St~es msils, shaU be sdficient aotioe and demand ia any case arising uader tbis iastrameni and ceqniced by the pcovisions bereaf a by law. 14. The mortgager covenaats and egRees that so loag as this mat$age and the said note secnred bereby are insnred ander the provisioas af t6e National Hdusing Act. be will not e:ecnte or ftle foc record sny instcnoent which ~m~~ a~a~c~ u~ c~ ~~e a o~~~y o~ ~~«cep~a ~~ty oo ct,~ ~u ot ~e, cola, a c~eed. Upon any vlolatioa of this undeetaking, the mortgagee may, at its o~ion, declare tbe unpaid balance d tbe ~ debt secured 6~eby ia~mediately due and payable. 15. The modgagoc furt6er covenants that should this mortg~ge and tbe nate secnred beseby not be eli~ible for insucance nader the Natiooal Housing Act within 30 DAYS ~~~n statesent of any ogicer of tbe Depadme~ of Housing and Ur6en Devetopment or aathorized ageat of tbe Secretary d Hons- ing and Urban DevelopmeM dated snbsequent to the 30 D/+Y$ time from tbe date d this mort~e, declining to instue said note and this mortg,agoe, being dee~d cooclasive prooE d snc6 ineligibilitq), the ~ortg,a- gee a the holder aE t6e note may. at its option, declare all sums secaced heceby iomediately dne and Qopble. T6e coveaeats hecein contained shaU blad, and tbe benefita aud advaots~ea sl~all inuie to, tbe crspectiv~e beus, e:ecntors, administratas, snccessocs, and essigps af tbe parties beceto. whe~eva used, tbe singnlai nme- . ber shall include the plaral, the plural the singolar, and tbe use of aay ~ender s6a11 include aU gend~ecs. ~1~5 ~166? ~ a ~,r~:' ~~t~+" ~„p w k d-~,: ;,7 ~ . _ _ '.:;.~F" - y~ rr~`~~',,~~,~ t 'i . a :,v - '~Yv