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Home My WebLink About1071 _ ~ , 5, '1'h~t he will pe~~it, can~ait~ a~ ~~te~ ~o~i te; ~ap~i~ment, « ae~:~~«.«on ot s.id ~ope~y a.~y p.n the~eo(; aod in tM event o[ the t~ilu~ o[ the mo~~a~or to keap Ua bulldi~s oe s~id pnmists ~ad tbose tob~ e~acted on said p~emises. or iapravea~eets thsroon. ia ~ood rop~lt. the ~aortp~ a~y aNke such rtp~lrs as in its ' discretion it awy deea~ neceasary for ths propK p~ssenratioe tbKeat. •~d the tull •mouat of e~cb ~nd every such p~yment sh~ll b~ iwmediat~ly due and p~y~ble, ~nd shall be serured by th~ li~n ct thu mwt~p. 6. That Ae wiil p~y all ~~d sin~ul~~ the costs. char~es. oed lxpen~s. includia: re~sonabte l~Mye~'s tees. ~nd costs ot ~bstr~cts ot titk, incunad at p~id at ~ny time bythe ~nat~a~ee because ot the taflua o~ the p~rt ot the a~oct~aga promplty ~nd fully to pe~for~n the ~ereenents ~nd coveaants d aaid'promissay nate ~nd this mort- ~ge. aad s~id costs. clwrges. and expenses sha11 be ima~ediately due ~nd p~yable ond shall be secured by the ~ tien at this mott~a~e. 7. That he will keep the improvemeats now existing a hece~fter ecected on the e+at~,a~ed pcope~ty. icisured as may be requiced fcom time to time by the matt~agee agoinat loss by fice ahd othe~ bas~nls. c4suolties. ond contin- gencies in such anwunts ond Eo~ such periods os may be cequirod by mat~a~ee, aod will pay pwmptly~ ~rhen dne. any prcmiums on such insuc~~ue for p~ymeM of wh~h pcovlsion has not been made AeceinbeEae. All insuronce shall be c~?~cied in companies appcove~l by mortgaese and the policiea and re~ew~ls tbereoE shall be held by mat- gagee and have attached thereto loss payabte clauses in favor of aad in form acceptable to the mortgpgee. in event of loss he wili give immediate notice by mail to aatgagee. and moctgagee moy make proof of Ioss if not made promptly by mortgagoc. and each iasuronce camp~ny concemed is heceby authocised and dirceted to nwke payment foc s~h losa directly to mo~tgagee instead ot to mort~pga and mat~agee joiatly~ and the iasuro~ce pro- ceeds~ or any part thereof. a~y be applied by inocteagee ~t its option eithec to the reduction of the indebtedness hereby secured or to the restoration a eepair af the property denwged. ia ev4nt d Eoreclosure of this moctgage a other transfer oE title to the mortgaged propedy i~ extingulsh~nent of the indebtedness secured hereby~ ell right, title. and interest of the matgagar in aad to any inaurance policies the~ in force shell pass to the purchaser or grantee. ~ 8. That the mortgagee awy, at any time pending a suit upon thls matgage. apply to the court having jnrisdic- tion thereof for the eppointment aE a receiver, and such coud shall forthwith appoint e receiver of the p~emises covered hereby all and singulac, including alt and singular the incoaie, pcofits~ issues~ and cevenues from ~vtwtevec soucce derived. each end every of whieh. it bein~ e~pcessly understood~ is hereby mo~tg,aged as iE specifically set - fo~th and described in the grnnting aad Iwbendum cl~usea heceof, ~~d such receiver slwlt. bave ell the broed and effective functions and powers in anywise entrusted by a court to a receiver. and such appointment sholl be aiade - by such court as an admitted equity and a awtier of absolute right to said matg,egee. a~d without reference to the adequacy or inadequecy of the value of the propeity aioct~aged or to the solveney ot insolvency of said mortg,~goc or the defendents, and that such reats. profits~ incaoe. issus~, and revenues ahall be applied by such receivec according to the liea of t6is mortgage ar~d the prlctic! ~~~6 coud. In the event of sny dtfault on the part of the mortgagor hereunder. the mortgagor ag~ees to pay to the mo~tgagee .on demand as a reasunoble moathly rental for the pcemises an amount at least eqpivaleat to oae-t~?elfth (1/12) of the aggregate af the twelve monthly install- me~ts payable in the ihen current year plus the actual amo~wt of the aanuel taxes, assessments. w~ter_rates. and insvrance preroiums foc such year not coveced by the aforesaid a?onthly peyments. 9. That ~o) in tbe event of any breach o[ this mortgage or def~ult ac~ the ped oE the mortg~gor. or {6) in the event that any of said sums of money herein referced to be not promptly aad Eully peid witlioat demaod or aotice, or ia the event that each a~d every~ the stiputations, agReemeats, conditiaas, and covenanis of s~id aote and this mortgage. ere.not duly, promptly, a~d fully performed; then in either or any such event. the said aggregate sum mentioced in said note then cemeining uapaid, with iaterest accrued to that ttme, apd all moneys secured hereby, shail beconae due and payable Earthwith. a thereaftet, at the option ~ said mateagee. as fully +~nd com- . ' pletely as if all of the said sums of aaney w_ne origiaally stipulated to be pQid oa sncb day. anything ia said aote or in this matgage to the contrary aotwiti~atanding; and thereupon ec theceafter, at tbe optioa af said a~ortga- gee, witbout notice or demand, suit at law or i~ equity, awy be prosecuted as if all e~oneya secured hereby had maEuced prioc to its institution. The mat~pgee rtwy forecloae this mortgage. As to t6e amount so declared dae ~nd . poyable. aad the said pcemises shall be sold to satisfy aad ~y the same together with costs, expenses~and aUow- E ances. In case of partial Eorecloauce af this moct~age. the matg,aged premises slwll be sold subject to the con- ~ tinuing lien of t6is awrtgage for the amount af t6e debt not thea due ~nd unpoid. IA snch case the provisioas ot this peragraph.nwy again be availed of thereafter f~om time to time by the mortgagee. ~ 10. That the matgagoc will give immediate ~otice by awil to tbe mortg,agee of aay conveyance. transfer, or change of oanershtp af tiK pcemises. 11. Thet no woiver of any covenant berein or of tl~e obligptioa sec~red hereby shall at any tieoe thereafter be held to be a waiver of the terms hered or of the note secured hereby.' - 12. Tlwt it the moitga~or deiault in any of the covenants a ageeements coataioed 6ecein, or ia said note, then - the mortg,agee may pedorm the sam~, and all e:penditutes (iocludiag ceasonable attaaey's fees) made by the mortgagee in so doin~ shall dra~r interest at the rate set forth ia the aote sec~ued hereby. and shal! be repoyable immediatety and without den?and by the mortgagor to tbe eoatgagee~ aad, to~etl~er wit6 iaterest aad costs accruing thereoa. shall be secured by this moctgage. 13. that the mailing oE o written ndice a demaadaddcessed to the owner oE recad of tbe mat~aged pcemises, or dicected to the said awner at the last address sctually fnraished to the moK~gee, or directed to said ownec at said mod~agtd premises, and mailed by the United States awils. shall be sufticieat notice and demand ie aay case arising under thia iadrument aad required by ti~e {xovisions heceef or by law. 14. The ~ooetga~or fnrtber coveaaats tbat shenld this sortp~ aed tbe oate secared bereby aot be ell~ible ~ for insurance undec tbe Nati'ossl Housing Act witl~ia Z'liitt~ l~ar from tbe date beceof (writtee statee~ent ~ d any oEficer aE tbe .Depadmeat of Housia~ ond Urboa Development or autbocis~d ~~ent d the Secretary of Ho~u- ing and Urban DevelopmeM dated subsequent to tbe 7,~j~~ tiaie fco~ t}~t date at this o«tp~. - decliniag to insuce said nde and this ooet~~e. bein~ deeoPd coac7usive proof af such ineli~ibiUty). tht 4a~t~a' ~ gee ur tbe holder d tbe uote aoy, at its option, declare all suns securcd bereby immediately d~e aad poyoble ~ The coveaaats IfefllA COOtal1101~ sball bind, and the beaefl4 and advaa~aps sball jnuce to, tbe respective heirs, executas, admiaistratocs, succesaon, and assi~ns d tbe parties hsreto. ~deaevet wed, tbe sinsular ow~- ber shall include the plural, tbe plnrol tbe sin~ular. rnd t6e us~ oE aay gendec shall Include all ~ande~s. - ~186 ~107~0