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Home My WebLink About1718 : t ? t S. TAat be Mill pe~sit. coeaft~ a sufEer ao waste. ta?p~irmeot. a detecia~tioa ot safd N a an et P~~ Y Y P~ thfceoE; s~nd . in the event oI the Eell~ue at the aort~asor to ksep the buildin~,s on said p~emises ~ad tbose tobt erscted oa said previses. cr ienpcove~nts theceoa. ia sood cep~lr. tbe mat~~e awy awke such cep~Irs as in its disccetio~ it ~y deem necassuy foc the proper pceservation thereof. ~ad tl~e [utl •mouat oE each asd svecy snch p~yment ilwlt be lm~aediately due aad payable. and sha:! be secured by the 11en cE this aiort~a~e. 6. T1wt Aa wlll p.y .ti and sIngular the casts. charQes. a~d expenaes, iAClndiag rwsonable l~wyer's fees. aad costs oE abstcacts oE titb~ incurred oc paid at any tjme by the matgagee because af tl~e failure va ths p~d af the moct~egor ~omptly and fully to perEa~ the agReemcnts and coveaants oE said pcaaissory eote aad this mort- eage~ aad spid coats. chorges. and expeases sball be imwediately due •ad p~yable sh~ll be secu~ed by tbe Uen af this moct~age. , ~ 7. That he will keep the improvemeats naw existing a hereatt~ eeected oa the a~atga~ed pceperty. iasured as may be required fcoa? time to time by the mottgagee agaiast loss by fire aad othec lwsQrds. casu'lties. aad contia- _ gencies Ia suc6 ameunts a~d for such periods as may be requiced by matgagee. aad wil! poy pcomptlr. when due, a~y premiu~is oa such insucance for paymeat of which provision has aot been made hereiabefo~e. All insucaace shall be carcied in canpanies approved by moctg,egee a~d the policies aad reaeaals theceof shall be 6eld by mat- gagee and have attacl~ed tl~eceto loss peyable clanses in favor of and in form accepteble to the moitgpgee. In event of loss he will give immediate notice by aail to moctgngee. and mortgagee may mabe pcoof oE loass if not made pcomptly by matgagoc. and each insurance compeny concerped is hereby aathocised aad d'uected to make payment fa sttch loss directly_to mottgagee iastesd of to moctgago~ and matgagee joiatly. aad the insurance pro- ceeds. or any part lhereof, msy be applied by mottgagee at its optiou either to the reduction of the indebtedaess hereby secured or to the cestoratioa a repair of the propecty damaged. Ia eveat of faeclosure of this mortgage oc other traasfer af title to the matg,sged pcoperty ia extiaguishment of the indebtedaess secured hereby. all rigl~t, title, and interest oE the moctgaga ia aod to any insursnce policies then in fo~ce shall pass to the purchaser ac grantee. _ 8. That the matg~ee may. at aay tlme pending a snit npon this mortgage, apply to the court having jurisdic- _ tion thered for tl~e ap ntment of a receiver. aad suci~. couct shaU fortb~vitb appoiat, a~ _receiver of the premises coveced hereby all aad singular,~including all and siugulsr the iaco.~e, prafits, iasues. end revenueg from whatever source derived. esch and every of which. it being expcessly understood, is heceby mortg,aged as if specifically set forth and described in the grenting and habeadum clauses hereof. acd such receiver ahall have all the broed aad. efEective functions and powers in anyavise entrusted by a court to a receiver, aad such appointment shall be made by such coud as an admitted equity and a ~natter of absolute right to said matg~agee, ~nd~witha~t refesence to the adequacy or inadequacy of the vslue of the propedy mortgaged or Eo the solvency or insolvency of seid mortgagor or the defendents. and that such rents. pcofits, income, issaes. and revenues shall~bcja~ie~ ~y? such receiver according to the lien of this mortgage and the pcactice of such court. In the eveat of y det~iult oa the ped of the mortgagoc : ereunder, the mortgagoc agcees to pay to the mo~tgagee on demand as e reasoaable maatbly rental for the pcemises an amount at least eqpivalent tQ one-twelfth (1/12) of the aggregpte of the tvvelvt.moothlyinstall- ments payable in the then current year plus the actual amount of the annual taaes, assessments, vvater rates. and insurance pcemiums for such year not covered by the aforesaid moathly payments. 9. That (o) in the event of any breach of this modgage or default oa the part of the modgagor, or (b) in the event that any of seid sums of moaey herein referred to be not promptly and fully paid withou"t demaad,or potice, or (e1 ia the event that each and every the stipulations, agreeaients, conditio~c; 8~-~,?~aa~ ~~ia ~aB:eAa • this mortgage. are not duly, promptly, and fully performed; then ia either or ang.asch event. tbe said aggFe~ate sum mentioned in said note then remaining uapaid. with interest accrued to that time, and all moneys secured hereby, shall become due and peyable focthwith, a thereafter, ~t the option of said matgsgee, as fully aad com- pletely as if all of tbe seid sums of money were originally stipuleted to be ~aid oa such day, anything in said note a in this modgage to the contrary notwithstanding; and thereupon ar thereafter, at tire option of said mortga- ~ i gee, aithout notice or demand, suit at law or in eqnity, may be prosecuted as if all. moneys secnred hereby had matured pciec to its institution. The matgagee may foreclose this mortgage~ as to thC 8n~buM so declared due aud t payable, and the said premises s6a11 be sold to aatisfy aod pey the same together with~costs. e:peases,and allow= ~ ances. In case Of partial foreclosure of this mortgpge, the moctg,aged peemises s6a11 be sold subject to the con- ~ tiauing llen of this moctgage fa the amcwet of t6e ditbe saR~_tlteyn dae and uapaid. Ia such case the provisions of this paragraph may again be availed of thereaftec from time to time by thE matgsgee: ~ 10. That the.mortgagor will give immediate notice by mail to the mortg,agee of any conveyance, transfer, or change of aavaership of the pcemises. 11. That ao waiver of any covenant herein or of the obligation secured hereby shall st any time thereafter be held to be a weivei of the tenos hereaf or of the note secnred hereby. . .12. Ttiat if the mortgagoc default in any of the covenants or ag~reements contaiaed herein, or in said note, then the modg,agee may perform the samg, and all expenditures (including reasonable attaney's fees) made by the mortgagee ia so doing shall draw interest at the rate set forth ia the note secnred hereby, and shall be repayable immediately and without demand by the mortgaga to tbe mortgagee, aad, together with iaterest and costs accr~ing ~ thereon~ shall be secured by this modgage. 13. that the mailing of a Written notice o~ demand addressed to tbe owner of recad of the mortgaged premises, or directed to the said awaer. at the last address actually Euraished to the modgagee, or dicected to said avaer at said modgaged premises. and mailed by the United States mails; shall be suEficieat aotice and demand ia any cese arising under this instcument a~d required by the provisions 6ere~ oc b~ law. 14. The modgagoc covenants and'ag~rees that so long as this matg,age and the said note secured hereby are insured undet the provisions of the National Housing Act, he will not execute oc file for record aay instrameat w6ich impo~es a restrictioa upon the sale or occupeacy ef the mortgaged pcopedy on the besis of race, color, or creed. Upoa any vlblati~ of this uadertaking, the mortgagee may, et its option, declare the uapaid balance of the debt secuced hereby immediately due aad.payable. 15. The mortgagoc fnrther covenants that should this matg,age and the note secured hereby aot be eligible for insiuance under the Natiooal~Housing Act aithin from the date heceaf (written stateoeat oE any officer af t6e Depadeneat of Housing and Utban Development ot authorized ageat of tbe Seccetary of Hous- ing and Urban DeveloQmeat dated subsequent to the time fcom tbe date of this mod~,nge. declining to insun seid aote and this mortgage, being deem~d coaclusive proof d such ineligibility), the mortga- gee oc tbe holder aE the note may, at its optioa, declace all sums secwed bereby immediately dne and peyable. The coveaants herein contained shall bind, and the benefit$ aqd, ~dvaqta~,st~a11 }pure to. the respective heirs, executas. administretas, successors, and assigns d the par~ies beceto. *lienevec used, the sin~ular num- ber shall inclnde tbe plnral, the plaral the singular, and the use oE any geader shall include all genders. _ ~1~5 ~1~~19 ti_Y ~ ~ ' ,."r ~ ~ ~ -