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Home My WebLink About1799 ~ ~ . ~ .,~~1 • ° ~ ~,1 \ - . ~ . ~ t ~ ~ 5. That he wjll pe~mjt. coenmit, or sutter no waste, impaicmeet~ or dttericration of said propeny o~ any p~rt the~eoE; •rtd ie the event o( the tailure of the mortgago~ to keep the buildin~s on said premises aad thos~ tobe ecected on soid premises~ o~ imp~ovaments theceon. in good repair, the mortgagee may awke such repairs as in its discretion it aMy deem ~ecessuy tac the ptoper presanrotion thereaf~ and the [uli amouat ot each and eve~y snch p~yment slwll be ia~mediotety due ond payable. and shall be secuced by the Nen oI tl~is mortgage. 6. Th~t he will pt~y a!l and singular the costs. charges. aod expenses. including reesonable tawyer's fees. aad costs oE obatncts of title. Incurred ar paid at ayy tlme bythe mottgaeeebecause of the failure on the port oE the matgagac pcomptly and tu11y to pe~fam the agreemeats and coveaants of said'pcomiasocy note and this mort- ~sge~ aad saId costs. ctwrges~ and ezpenaes stwll be immediately due and payable end shall be secured by the - lien cf this matge~e+. . 7. Thet he wlll keep the impcovements now existing a hereaftrr e~ted on the mortg~aged pcopecty~ insured as way be cequired fcom time to-time by the moctgagee against lesa by fire and other bazards. casualties. ar~d contin- gencies in such amounts and for such periods as may be required by mat~~gee. and ~vill pay promptly. ~vhen due. any premiums on such insurance for peyment of which pcovision has eat beee made hereinbefoce. All insnrance shall be carried in componies ap{xoved by mortgagee and the policies and renewals theceof shall be held by mort- . gagee and have attached" thereto loss payable clanses In fava of and in form accepteble to the moctgagee. In event of loss he will give isamediate notice by mail to moctg,egee. and moctgagee may make pcoof of loss if not made promptly by matgagor, and esch insurance company concerned is hereby authaized and d'uected to meke payme~t foc such toss directly to mortgagee instead of to moctgaga and mortgagee joiatly~ and the insurance pro- ceeds. or any patt thereof, may be applied by matgagee at its option either to the reduction of the indebtedness hereby secuced or to the restoration or cepair of the propedy damaged. Ia event of foreclosure of this moctgage or other transfer of title to the mattgaged property in extiaguish~oent of the indebtedness secured hereby, aIl right. title. and iaterest of the matgagor iA and to any insurance policies then in focce shall pess to the purchaser or grantee. ~ - 8. That the mortgagee may, at eay time pe~ding a suit upo~ this mortgage, apply to the coud having jurisdic-. tion thereof for the eppoiatment oE a receivec, a~ such coud shall fodhwith appoint a~eceiver of the ~cemises ~ coveced heceby all aad siagular; iacludiag all add singular the income, profits. issues, aad reveaues fmm whatever ~source derived, each and evecy of ov"hich, it being expressly understood. is hereby mortg~aged as it specifically set forth and described in the gtanting and habeadum clauses hereof, and such receivec shall have atl the 6road and effective functions and powers in anywise eatrvsted by a caurt to a ceceiver, and such appointmeat shall be made by such coud as an admitted equity and a metter of absolute right to said matgagee, and without refereece to the adequacy or i~adequacy of the valae of tbe propedy mortgaged or to the solvency or insolvency of said mortgago~ or the defendents. and that such ceats, profits, income, issaes, and cevenues shall be epplied by such receiver according to the lien of this mortgage and the prectice of such court. In the event of eny default on the part of the modgagor hereunder. the madgagar agrees to pay to the moctgagee on demand as a reasonable monthly reatal for~ the premises an amount=at least eqµivaleat to oae-tweUtb (1/12) of the aggreg,ate af t6e twelve monthlyinstall- ments p~yable in the then cuneat year plus the actual amount of the annual tazes, assessments, ~rater cates. aad insur~ace premiums far suc6 year not covered by the af~esaid monthly paymeats. , 9. That (a) in the event of any bceac6 of t6is modgage or default aa the pad of the moctgagor, or (b) in the event that any of said sums of money herein referred to be not prom~ly and fully peid Rrithout demand or notice. or (c1 i~ the event that each and eve~r~t~e stipnl~tions. agreemeats, coaditic,is, and covenaats of said aote snd this -mortgage, are not duly. promptly. aad` Eully performed; then in either or aay sue6 eveet. tl~e said aggtegate - sum mentioaed in said aote thea remqining uapaid. with interest accrued to that time, aad all moneys secured hereby, shall become due aad ~eyable'fath~vith, a thereaRer, at the option of said moctgagee" as fully and com- pletely as if all of the said sums of money arece origiaally stipnleted to be paid a~ such day, anything ia said note a in this mortgage to the contrary aotwitbstanding; sad thereupon a thcreafter, at the optioa of said matga-_ gee, aithont notice or demand, suit at law or ia equity, may be prosecuted as if all moneys secured hereby had matured prioc to its i~stitution. The mortgagee may foeeclose this matgage, es to the amouM so declared due and payable. ead the said prearises shall be sold to satisfy and pey the same together Mrith costs, espenses.and allow- ances. In case of poctie! foceclo~nre of this awrtgage, the matg,aged premises shall be sold subject to the con- tinuing lien of this awrtgsge for the smount oE the debt not thea due and unpeid. Ia such case the provisioas oE this paragraph may again be availed ~ thereafter from time to time by t6e martgagce. 10. That the mortgagor aill give immediate notice by mail to the mortgagee of any conveyance, transfer, or - chaage of awnership d the premises. 11. That no waiver of any covenant herein or of the obligatioa secuced hereby shall at any time thereafter be held to be a Waiver of the tecros hered oc of the note secuced hereby: 12. That iE the moctgagar default in any~of the covenants or ag~eea~ents coataioed hereia. a in said note, then the modgagee may pedorm the samg, and all expenditutes (including reasonable attoraey's fces) made by tl~e mortgagee in so ~oing shall draw iAterest at the rate set fath in the note secuced hereby, end shall be cepeyable immediately and without demand by the mortgaga to the mortgagee, and, together ait6 iaterest aod costs accreung thereop, shall be secured by tbis modgage. _ 13. that the mailing of a arittea notice a demandaddressed to t6e o~rner of recocd of tbe matgaged premises, oc directed to t6e said owner at the last address actually furnished to.the mortgagee, oc directed to said owner ~t said modg~aged pcemisea. and mailed by the United States mails, shall ba sufficlent notice and denwad ia aey case arising uader this instrument and required by the provisions hereof oc by law. 14. The moctgagor further coveaants that should this mort age aad the nete secuced heteby not be eligible ~ for iasurance nader the Natiaul Honsiag Act widria ~ QA~$ hooi tbe d~te IlerevE (writtee atatement ~ of any officer af the Depadmeat of Housiag and Urban Oevelopmeet or autltaised ~geat af the Secretary af Hons- ~ ing aad Uraan Development dated subsequent to the ~~Y$ time from the date of this matgage, declining to insun said ade and this matg,age, beiaQ deemPd coaclusive pcoof af such ineligibility), the mortga- gee ac the holder ef the note mey, at its option, declare all sums secnred bereby immedietely due aad p~yable. The covenants 6erein ca?tained shall biAd,~ aad the beaefits sad advaatages s6a11 ianre to, the raspective heirs, e:ecatas, administratas. successors, ~nd assigas eE tbe porties hereto. Whenever used, the singulat aum- ber shall inclnde the plural, the plt~ral the singular, and the use of aay geader shall include all genders. . - . • ' - aoo 186 ~1797 ~ - ~_,x~ .,3 -..~:~-s'~= _ ; , . . _ ^e~~_