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Home My WebLink About1295 , _ . . ~ l` ~ ; ' ~ l? ~ S. Thd hs will pecmit, commit~ at sutt~t no ~r~ste. isp~i~aNat, w dtterjoc~tioa of s~id pwpetty or aay paet the?eof; And in the eveat af tbe toilwe d tM matN~or to kMp tM buildin~,s oa said.p~emis~s aad tbos~ tob~ erected on said p~emisas. or i~eprovemeat~ thereon. in `ood rep~lr. tbe morlppe awy awke sucb rop~its u in ib disccetioe it w~y deem necessaty fot tb~ pcopt~ prea~v~tioa thettof. •nd the Iull aeouat d e~ch ~ad eve~y sycb p~yment sh~~l be iwsediat~ly dw aud p~yable. ~nd sball b~ secured by tM Ilea aE this sa~t~a~e. 6. Tluit he will poy alt aad sin~ular tht casts. char~es. ~nd expen~s. includin` casonable 1~My~c's tees~ ~nd costts of ~bstwcts ct titl~. incurred or p~ld ~t uty tia~ by/he aiat~~eebecause of the f~llure aa tbe port cf ~ the mort~asor p~oa~ptly aad tully to petlarw tbe a~meats ~ad cowa~ats of uid 'pcoaiiasory nate aad this aort- ~age. aad s~ld ccats.~ charges. oed expenses sball be imaiedi~tely due aad poyable and ~holl be secured by the liee d this mat~age. e 7. Tlwt he will keep the imp~ovements aow existiag a heeeaEtet ecect~d oa tbe mat~,o~ed pcope~ty. iasueed as moy be eequircd fwm time to time by the mort~a~ee agaiast loss by fice ond othe~ lwsards, caawitits. ~nd caitin- gencies in such aawunts aad [oc such peeiods as awy be requirsd by mat~pse. and will poy proaptly, whea dne. a~y premiuais on such insurance tor p4yaeM ot which provi~cioe haa aot been awde heceinbef~te. All iastuaace shall be carcied in comppniea appcoved by matg,~Qee and the polkies •ad reaew~ls tbe~eof s6a11 be beid by mat- gagee end heve attached thereto ~loss poyable clauses in fovor oE and io fam acceptable to tbe matpgee. la event of toss he will give ima~ediate eotjce by awil to matg,nge~; and a4ateagees moy maloe proof af loss it not awde promptly by mortgagor. and each iasucance compw~y concemed is hereby authorised and directed to make payment far such loss dieectly to mortea~e~ jastead of to mateaga aad mortga6eer jointly, snd the insuiance pra ceeds. o~ any pa~t theeeof. ~y be applied by moctga~ee ot its optioa eithec to the reductlon of the iadebtedness heceby secuced or to the resto~tion a rep~l~ af the propeety daawged. In eveM aE Eaecloswe af thia moctgage a other tcansfe~ of title to the mortg~~ed property in e:tleguishmeet of the Indebtedness secured heceby. all right. title~ and interest of the matgaga ie and to any iasura~e policles tl~ee ia force ahall poss to tl~e purchaser a grentee. . ' 8. That the mortgagee a~y, at eny time ~pending a~ult upon this mo~tgage, opply to the court bsviog jurisdic- tion thereat fot tt~e appointment eI a receiver. and such coud stwll forthMrith appoiQt a_receivec oE the premises coveced here6y all and singular. ineiudiag al! and singulpr the i~ome, profite. issues. aad reveaues Erom wlwtevec source derived; each and every oE which, it being expcessly understood. is heteby mattg~~d as if specifically set forth and described in the grsnting and habendum clauses hereef, aod such rseeiver sIM11-lave ~11 the bro4d and effective functions and poareis in enywise entrusted by a cwut to o reoeiver. aad such ~ppointmeat shall be mode by such court es an admitted equity and a metter of absolute right to said asa~t~pgee. aad wltbont cefereace to tbe adequacy oc inadequacy of the value of the propedy matgaged ar to tbe solvency a insolvet~cy of said matgagoc or the defeadents. and that sach rents. pcafita. income. issues. and reveuues slwll ~be:a~'p~ied by such receiver accading to the liea of this moctgage and the practice of such caut. Ia the ~ ge~t~o~ ~ny ~eEault on tbe p~rt of the mortgagor hereunder. the matgega agrees to pay to the mortgp~ee. m dema~v~~~.i~baa~ble ma?thly reatal ta the premises aa amount at least eq~ivalent to oae-t~velfth (1~12) of the aag~e~ate d the twelve monthly iastall• . ments poyable in the the~ cunent yeu plus tbe actual amount oE ths sanurrl ta~ce~~ ~saessa~ats, water rates. and - insucance premiwns foc such yeac avt covered by the aforesaid monthly p~ymeats. 9. That (a) in the event of any breach d this ~oo:tgage ot defauh aa tbe ped of the matgpgor, or (b) ia the eveat that any oE said sums of nwaey hereia refeaed to be not pwmptly and fnlly pold witlrout demand or aotice, or in tbe eveat that each and every the stipulatioas, a~reem48ts. Conditieas. oad covenaats of said ~ote aod this mactgege. are not duly. ptomptly, ard fnlly pectocmed; thea ia either ar aay such eveM, the said aggeegate sum mentioned in said aoRe tlun cemainiag unpeid; aith interest acc~ued to that time. aod aU eoqneys secuied hrreby, shal! becaae due and poyAble focthwith. ac t6ereaher, at t!K option of said moctgp~ee. a~t fully aad com- pletely es if all of the said sums oE moQey were oti~icwlly stipnlated to be pa~d on sacb day. anything ia said note or ia this modgage to the contrary notwithst~adiag; aod thereupoa ot tbereafter. ~t tbe optioa af s~id matga- gee. Mrit6out aotice or demand, suit at law o: ia equity, moy be p~osecuted as if all moaeys secured bereby had matured pria to its iestitution. Tbc mat~pgee m4y faeclose this mat~aQe. as to the amQttnt so declared due and- payable. and the said premises shall be sold to satisfy and pay the same together with casts. a:panaes.and allar- ~ ances. In case of partial faeclosnre ot this mott~e. tbe mortgpged premises shall be.sold subject to t6e con- ~ ~ tinuing liep af t6is mortgage fo~ t6e a~nount af tbe .kbt not then dne and uapoid. in sacb case t6e pcovislons of this pacagcaph may :g,ain be availed af thZeattet from time to tiee 1iy the matpsee. 10. That the mortg,agor will give immediate notice by mail to the ao~t~agee oE any conveyance. transfer. « change of awnecshlp of the premises. - ~ 11. That no waiv~er of aay covenaat hecein ot of the obligptioa secuced hereby slwll at any time thereaftec be held to be a waiver of the tecros hered or of the note secured beceby: ~ ' 12. T6at if tht moctg,~ga defs?ult ia aay af tbe coverwats or ogieeoeab contained beceia, oc ia saed note, t6en ~the moctg,ugee may pedocm tbe saa~. and all expenditu=es (iacIuding re~soaable attaney's fees) made by tbe mortgagee in so doing shall draw interrst at the rate set fath ia the aote secured heceby. aad shall be repoyable immediately aad vrithout demand by the matgaga to the moet~ee~ aqd, ~together.wit6 iate~est and costs accruia~ thereoa, shall be secured by this mortg~~a. 13. that the moiling of a written natice a demand addrlssed to tbe oMraec of recad of the mat~a~ad premises. ar directed to the said owner at the last addcess actuolly furnis6ed to tbe moetgagee, a dlrected to saidaaoer at said mort~,aged pcemises, and oalled by tbe United St~tes oails, shali be safficieot notice aad de~aad in aay cese arising under this iastrumeat 4ad required by the pcovisiaas heecof ot by law. 1~. The soitga~or fmtber covenaats th~t shouW thL ~oet6a~e tad t6e aote stcnced 6e~ebp not be eli~ibk for iasurance uader t6e Natlaal Housin~ Act within va~. Ecom the d~te hereoE- (writtea statement of any oHice~ af tbe Dep~rtasent of Ha~siag and Urban iJ~evel8p~eo~ ac autba~ed ~~ent of tht Secretary af Hous- ~ ing and U~~ Developieat dated snbsequent to~ the T~y~. tise icow tht date cf this ~ortp=e. decliniag to insure said note and tbia mat~p~e, bein` dsee~cbacl~dsive p~oof cf such ieelisibility). the 4atea- gee « the holder d. tbe note ~y. at its optiea, declare all suas secuted hereby Ionsdiately due aad popble. Tbe covenaats herein coataiaed shall bind, aed tbe beastib aad advaataps sh~lI iiwrt to, tbe ~sspective beirs, executacs~ ada~iai~trata~s. suocessors, and aui~s d the puties hereto. Abeoever us~d. the aia~ular nws- ber shall include.the plurol, tbe plural t6e sin~ular, and the use oE aay geader shall incl~xle ~11 seaders. ~1~6 «~i~~3 ~ _ _ _ _ _ _ . . . _ - _ _ _ . ~ .~f " ti~, ~n~:: 9 y..,, ,7 _ . - '~ra _