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Home My WebLink About0566 { ~ ' ~t ~ ~ ' ~ i 3 • : S. Tb~t he will pe~mit. commit, ot sufEe~ eo~~N. impsie~~ll~o~ detecioatioo ot sald pwpe~ty ot sny p~K . thereot; aad lA the ~vcnt o[ the tailuce of the moet~~or to keep tbe buildin~A on said premises •nd tbose tobe ~ erected on s~id pcemists~ oa impcovenents thereon. in good rep~i~~ the mort~,agee awy awke :uc6 repoics es In its di~ccettoo it aNy deem necessary fo~ the proper pceservation tbereof. ond the full ~mount of cach aad every sucb p~ymeet slwll b~ immediately due and p~y~ble. ~ad shall be secured by the lien of this mortgage. 6. That h~ Mrlll poy •1! and aingular the caats~ charges, a~d expe~ses. Iacluding reasonable lawyer's tees. aad costs of abstncts oE title~ Incucred or paid at any time bythe orortgagee beceuse of the failure oe the port ef the mortg,aga promptly end fully to perfocm the •greea~ents ond covenaeta of said pcomissory note aod this mort- gage. ~nd said costs. charges. and expeases sball be ima~ediately due ond p~yable and shalt be secured by the lien af thls mortgage. . . ~ 7. T6at he will lceep the improvements now existing or hereatter ecected on the mortgaged propedy. insured as may be required fcom time to time by the matgagee agaiast loss by fiie and other haserds. casualties. aad coe~tia- gencies in such amounts and for such periods as may be cequired~ by matgagee, and aill pay pcomptly. when due~ any pcemlums on such insurance for peyment of which provision has not been made hereinbefo~e. Al! insura~ce shall be carried in compan}es appcoved by mortgagee and the policies ead renewals thereof shall be held by mat- gagee and have attached thereto loss payable clauses in Esvor of and in form acceptable to the mortg,egee. In event of loss _he will give immediate notice by mail to mortgagee, and mortgagee may make proof o[ loss if not made promptly by matgagor. end each insurance company ~concerned is hereby authocized and directed to make payment foc such loss directly to mottgagee instead of to mortgagor end matgagee jointly, and the insurence pro- ceeds. or any ped thereof. may de applied by mortgagee at its optio~ either to the reduction of the indebtedness hereby secared or to the restocetion o~ repair of the propedy damaged. In event of fo~eclosure of this mortgage a other transEec aE title to the aaortgaged property in exti~guishment of the indebtedness sec~ued hereby. all right. title, and interest of the moctgagor ia and to any insurance, policies thea ia force shall pass to the par~haser o~ grantee. ~ 8. Thet the matgagee mey, at any time pending a suit upon this mortgage. apply to the coart heving jurisdic- tion ther~ef fot the appointment of a receiver. and such court shall fodhwith appoint a_ receiver of the pcemises covered hereby all and singular. iacluding all and singular the income. profits. issues. and reve~ues from whatever source derived, each and every of which, it being exp~essly understood. is bc~teby mortg,eged as if specifically set fo~th and described in the granfing and habendum clauses hereof, and such receiver shall have all the broad and effective functio~s and powers in anywise entrusted by a cowt to a receiver. and such appoiatment s6a11 be made by such couct as an admitted equity and a matter of absolute right to said mortgagee, and ~vithout -nference to the adequacy or inadequacy of the velue of the property mortgaged or to the solvency or iasolvency of said mortgagoc or the defendents, and that such rents, profits, income, issues, and cevenaes shall be applied by such receiver accading to the lien of this mortgage and the practice of such court. In the event of an p~~t on the pert of the mortgagor hereunder, the mortgagor agcees to pay to the mortgagee on demand a~~~ monthly rental for ~ the premises an amount at least eqpivaient to. one-twelfth (1/12) oE the aggreg,* e of the twelve monthly install- ments payable in the then curcent year plus the actual amount of the annual texes, assessmeats, water rates, and insurance premiums for such yeac not covered by the eforesaid monthly paytaents. ~ 9. That (a) in the event of any breach of this modgage or default on the p~rt of-the mortg,agor. or (6) in t6e event that any of said sums of money herein ieferred to be not promptly end fully peid withont demand or notice, or (r) in the event that each and every the stipulations. agreements. conditions, and covenants of said note and • this moctgage. are not duly. pcomptly. and fully pedormed; thea in either or any such event, the said aggcegate sum mentioned ,in said note then remaining unpaid~ with iaterest accrued to that t?me, and all moneys aecuced hereby. shall become due and peyable forthwith, a thereafter, at the option of said mortgagee~ as fully and com- pletely as if all of the said sums of money were originally stipulated to be paid on such day, anything in said note or in this modgage to the contrary notwithstending; end thereupon or thereafter, at the option of said mortga- 4 gee, without notice or demand, suit at law or in equity„ may be prosecuted es if all moneys secured hereby had ~ matured pria to its institution. The mort~agee may foreclose this mortgage, es to the amount so declared due and ' payable, and the said pcemises shall be sold to satlsfy and pay the same together with costs, expe~ses,and ailow- ances. in case of pertial foreclosure oE this mottgage. the aoitg,aged premises shall be sold subject to the con- tinuing lien d this mortgage foc the amount of the debt not then due and unpaid. In snch case the provisions of ~ this pafagraph may agein be evailed of thereafter from time to time by the mortgagee. 10. That the mortgagor will give immediate notice by mail to the modgagee of any conveyance, transfer. or change of owaership af the pcemises. _ 11. That no waiver of any covenant herein oc of the obligation secured hereby shall at any time thereafter be held to be a waivec of the terms heced or of the note aec~ued hereby. 12. That if the mortgagor default in any of the covenants a agreements contained herein, or in said note. th~n the moctgsgee mpy perform the samg. and all expenditures (including reasoneble attorney's fees) made by the mortgagee in ao doing sball draw interest at the ~ste set forth in the noRe secured fiereby, and sha11 be repeyable immediatety and without demand by tlie mortg,agor to t6e mortgagee, and, together wlth interest a~u! coats accruing thereon, shall be aecured by this mortgage. ~ 13. t6at the mailing of a vvcitten notice oc demendaddressed to the ovPner of record of the mortgaged premises. or dicected to the said awaer at the last address actuelly furnisbed to the mortgagee, or directed to said o7vner at said mortgaged premises, and msiled by the United States mails. shall be sufEicient notice and dertwnd in any case arising under thls instrument and required by the provisions hereof or by laW. ~ ~ 14. The mortgagor covenents aad agree$ t1~at so lone es this mortgege and the said; not~ secured 6ereby are € insured nnder the provisions of the Netional Housing Act, he will not execute or file for record any instrument ~ which imposes a restriction upon t6e sale or occuQancy ~ the mortg,sged pcoperty on the basis of race. color, or cceed. Upon any violatioa :of tt~is undertaking. the matgagee may. at its option, declare the unpaid balance of the ' aebt secuced henby isaediacely dae and peyable. i 15. The mod~agor furtbec coveaants thet shouW this moct~ee and the aote secuced hereby aot be eligible ' for insurance under tbe Natiawl Housing Act withia ~~YS from the d~te hereof (rvritten statement ~ oE eny officer af the Depedmeat of Housing and Ucbea Deve~l pment or authoristd agent af the Secretary oE Hous- € ing and Urbon Development dated subsequent to tbe ~ QAYS time from the date af this mortg~~e. ~ declining to insure said nde snd this mortgage, being deem~d cuaclusive pcoof o~such ineligibility), the modga- ~ gee or the bolder of the note eiay, at its option, declare all swns secured hereby immediately due and payeble. The covenaats herein conteiaed shall bind, and the beneiits; and advanta~es shall iaure to. the respective ~ { heirs, e:ecutors, administrators, successocs, and assigns d the padies hereto. Whenever used. the singular num- ber shalt include the plural. the plural the singular, and the use of eay gender shall inclc~de all gendera. _ ~1~ ~ ~ _ - _ _