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Home My WebLink About1722 ~ ~ j . S. Tbat IN wtll pe:mlt. commlt, a sut[~e ao w~t~.' i~sp~c ~p~eaR.i or deteciocation oE said pcopeKy or any paK . . tbereoE; ~nd is the weat ot th~ faiiuro ot th~ ~rt~~ot to keep tl~e buildia~a on said pcemises aad those tob~ eeected oa said ptea~Ises. or improvemeats theceo~. I~ ~ood repoG. the mort~a~ee awy awke such cep~ia as in !b dlsccetloo jt m~y de~m aecacsuy ta the pcope~ presecvatien tlk~eof. aad tha tult amouat ot each aad ave~r sucb paymeet slwll be immedi~tely due aad p~y~ble. pnd slwll be securod by the llan ot thts ow~t~ee. 6. Tbat h~ xill pay. all ~~d siaeulpr the costs, char~es. and expenses. Includia~ reasoaable lawyer's Eees. Qad costs ~ abstacts oE tltle, lncurred ar patd pt any time bythe matgagee bec~use of the Iallure oa the port of ~ tht mort~,a~a p[omptly aad fully- to pedam the •gceements oind covenants oE s~id p~omissory note ~nd this moct- ga~a, ae4 spid eosts. char~es. ard e:peases siwq be immediately dne ~nd poyable aad shall be secured by Sbe llea af this mo~tg~ge. 7. That he will keep the improvemeats aow existing or hereafter erected oa the oatga~ed pcopeKy. Insuced as may be required from time to time by t6e matQ~gee against loss by fire aed other has~uda, cas~lties~ aad coatia- gencies it~ such amounts and for such periods as uwy be cequired by moctgagee. and will pay promptly. when due. any premiums on sutb iasucance tor peyment of which provlsioa has not beea made hereiabefae. All insurance shall be cacried in companies approved by moctgagee and the policies s~nd renewals thereof shall be held by mat- gagee and have attached theceto loss peyable clauses in favor of and ia fa~m accepteble to the mottgagee. In event of loss he will give immediate notioe by mail to moctg,agee, and mortgagee may inake pcoof of loss if not ~ mede promptly by moctgagor. aad each iasuraace compaay coocernad ia hereby autho~ized and directed to make payment fa such loss directly to mortgagee instead of to mortgagoc aad moctgagee jointly. aad the insurance pra ceeds. or ~ny part thereof. may be applied by moctgagee at its optlon either to the redaction of the indebtedness hereby secured or to the cestoratioc~ a repair of the property damaged. In eveat d faeclosure of this mo~tgage or other tcansfer of titk to the mortg~aged prop~tty ia e:tinguishment of the indebtedness secured hereby, alI rig6t. title. and .ipterest of the mortgagcr ia and to any iasurance policies then ia focce shall pass to the purcheser oc grantee. - 8. That t6e matgagee msy, at eny ti.mc peading a suit upoa this aaatgage, agply to the cant havi~g jurisdic- tion theceef fa the appoiatmeat af o receiver, aad suc6 caut shall fathwlth appoiat a receiver of the p~emises covered hereby ell and singulor. iaclndiag all and singular the iacome. profits, issues. and revepues fcom wbetever soucce derived. each and every of which. it beiag exp~essly uadecstood. is hereby mo~tgaged as if specifically set forth and described in the grenting aad_ habeadum clauses heceof. and suc6 receiv~t slwll have, all the broad and effective functions and powers in aaywise entrusted by a couct to s receive~, aa:l such eppointmeat shall be made by such coud as an admitted equity and a matter of absolute tig6t to said matgag~,~.~~e~t reference to the adequacy or inadequacy of the value of the pcopedy matgaged or to t6e solveacy dr 1 of said mortgagoc or the defendents, and that such r~nts, pcofits. income. issues, and teveaues shall be applied by snc6 receiver according to the lien of this matgage aad the praci3:.s of snch caut. tn c6e eveot ot any deEouit on the pa~c ot c~e mortgagor hereundec, the moctgegor agcees to pay to the matg,~gee oo demand ~s a reasooable moat6ly reotal for the premises aa amount at least eqpivalent to one-tarelfth (1/12) of the aggcegate af the t~velve ma?thly install- ments payable ia the then curreat year plus the actual amoiwt of the annual taxes, assessments. water rates. aad inswance premiums for such year not covered by the aforesaid moathly paymeats. " 9. That (a) in the eveat of any breach of this modgage or default oa the p~d of t6e modg,ago~. or ~b) ia t1~e event that any of said sums of ma?ey hereia reEerred to be aot pcomptly aad fully peid withoat demand or notice, or (c) in the event that each and every the stipulations, ageeem~tta, coaditioos, and coveneats of said note and tbis mortgage, are not duly, promptly. aad fully performed; thea ia eithet oc any snch eveat, the said aggcegate sum mentioaed in said note then remaining unpaid, with intecest accrued to. tLat ti~ue. and all moneys secnred hereby~ shatl become due and payable fathwith, or thereafter, at t6e optioa of said mat~agee. as fnlly aad com- pletely as iE all of the said suma of money ~vece originelly stipulated to be ~aid on snch day, anything ia said note a in this moctgage to the coatrary notv~itbstandiag; and thereupoa .a therea[ler, at the option of said mortga- gee, without notice or demand. suit at law a in eq~ity, may be prosecuted as if all moeeys secured hereby had ~ matured pcia to its iastitntion. The moct~agee may foceclose tbis matgage. as to the amonat so d~claced due sad payable. and the said premises shall be so~d to satisfy a~ pey the same together ~vit6 costs, ezpenses.and allaw- ances. 1n case of partial foreclos~ue oE this moctgage; the matgaged pce~is~es s6a11 be sold snbject to tbe coa- tinuing lien of this mottgage fa the amouat af the debt not then dne and unpaid. In such case tl~e provisioos oE this paragraph may again be availed of thereafter from time to time by the matgagee. 10. That the modgagor will give immediate notice by mail to the mortg~agee oE anq coaveyaace, transfer, o~ ehange of awaership of the pcemises. 11. That no waiver of any covenant herein oc of the oblig,ation secaced 6ereby shall at eny time thereafter be held to be a waiver of the tecros hereof oc of tLe note secured 6erebq. . 12. TF~at if the mortgaga default in any of the coveaants ar agreemeats coatained bereia, oc in said aate, then the moctgagee may perform t6e samg, and atl expenditures (including r~sooable attaaey's fees) ioade by t4e mortgagee in so doing shall draw interest at the rate set fath in the note secnred 6ereby, and sbaU be repayable immediately and. withont demaad by t6e matg,agor to the ~noetgagee. and. togetLer with intetest and costs accrning~ thereoa, shall be secnrcd by this mortgage. 13. that the mailing oE a anitten aotice a demandaddiessed to the owner of record eE the eatg,sged premises, or directed to t6e said owner at the last~ addnss actqally furnished to the matgp~ee. a directed to said owcer at ~ said martgaged premises, aad mailed by t6e Uaitett States mails, shall be s~dficient notice and demand in any ceae arising under this instrament and required by the'pro~vlsieos beceaf or by law. 14. The mortgagar caveoents and agRees thet so loo~ as this ~at~ge and tLe said note secmed bereby ace insured under tbe ~rovisioas uf the Na~ional' Honsiag Act, 6e will not eiec~rte or fik ~a recad aay iaatrament w6ich imposts a restrictioa upon the aale or occnpancy af We mat~a6ed P~opeetY oa tbe basis d race, color, or creed. Up~ any vi0latia~ o# this wadertaking. the mat~agee oay. at its optioa. declare the mpoid balence d tLe debt secured hereby immediately dne and poya6le. 15. The aioetgagor fnrther coveaants tbat ~hould this ~o~ta,age and fco~ tbe d~ate~hereab f(ywrittean sta~e~aent~ for insurance nnder t6e Natiaaal Housing Att within 3Q p/~Y$ ~ any officer af the Depadment af Housiag and U~an Developmeat ac aatbarised agent af tLe Secretary ef Hous- ing ana urbsn DevetoQment aaced subs~quenc co the _ 30 DAYS ti.e 6~0. tbe a~ce ai tb;s .o~t~e. declining to insure said note aad this matgp~e. being dceoed caec~sive~ proof af s~cL iaelig~?ilitj?). tbe sort8,a- gee or the 6older af tbe note msy. at its optioo. declare oll snms aecored hereby ia~edi~tely doe asd papble. The covenants herein contained slwli bind, aad tLe beaefits and advantages shalt ianre to, tbe respective heira, executas. administratas. successas, and assigps d tbe p~ties heceto. wkeoe~er ased, the singalar nno- ber shell include the plural, the plural the singnlar, and tbe use af any ~eader slwll include atl genders. ~185 ~17~ _ ~~,:F , ~ _ ~ . _