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Home My WebLink About2564 ~ S. That !~e will perait, canmit. or su(fer ao wade. i~paira+eat. o~ detecior~tioo c[ s~~a ao~cr o~.ay p.~+ th~eo[; and in tl~e eveM of the t~ilure d the awrt~a~a to Iceep the brifdie~~ a+ said pre~ises aad tbos~ lobe erected ou said p~emiaes. o~ imp~ovemeats thereou. in ~ood rep~u. the moet6a~ee awy nwke srcA reprits as M its dicccetion it ewy deem ~ecessay tar tl~e propr~ presecvat~on thered. a~d ~he Iull aaow~t at e~ch snd ev~sy snch poYmeat shall b~ Iwoediately due •nd p~y~bte. and shall be secrced by the liea d tbis ao~tp~e. 6. That !~e Mritl p~y sll aad siA~ular the cauts, cha~~es. asd expenses. iscludiA~ rasooable la~rye~'s Eeas, and costs oE abstncts ot t;tla. incyrred or paid at any tioe by tbe mortg,o~ee because af tbe fulure on tbe pad o[ ~ the a~octgagor pwaptly ud (ully to pedaa tAe a6ceeeeats aad covea~ats oE ssid'proa?issorY ncte aad this a~ort ? Qage, and said cost~. clrr~es, aod eupenses sh~ll be inaoed'utely due and pnysble and s6all be secu~ed by the ~ llen d this matga~e. That i~e wiU keep ~he imp~ovemencs now exiscint « he~eahe~ e~+ecced oo ~he aw~~sed aop~ty, insured as ~ moy be required fcom time to t'sa~e by tbe a~at~a~eee a`ainst loss by fire oed other iwsrrds. casnalties, aad contin- ~ geaciec ia such amau~ts aad for auch perlods as aay be cequieed by ~aat~agee, ood will p~Y P~P'~~Y, '~?hcn dne. ~ any pceAiwos on aucb iusura~ce (or payme~ of whjc6 pcovisioa •bas not been enade be~einbeEae. Afl insurancf shall be carried in caapanies appcoved by matpges ac~d the policies aad renerrels t6e~eot sM11 be held by owct- i g~gne ~ad have attached thereto loss payable cfauses in fa~ra of aAd in focm accepteble to the mat~a~ee. Ia i event oE loss he will ~ive immediate aotice by awil to aat~pgee, ead matgaRee m'y eske p~oof d loss if nd 1 mede pranptly by niortgaga. and each i~urance cpopoay coocemed is heceby autbai=ed aad directed to osicF p~yrarat Eor snch loss d'uectly' to mat~agee instead of to a?at$ogar aud ~ooctp~ee jointly, and tlMe iasnrance pro- - ceeds. a eny pait theecof. ~y be applied by mertgagee at its opt~oo eithet to tbe rednction ot tbe Iadebtedaeas hereby secured or to the restosatiaa o~ ~pai~ d the pcopedq damagied. -Ia event d taraciosure of this mortg,a`e oz other transfer of title to the mortgaged property in extlaguishmeat of tbe indebtedaess secnced lreceby, al! tight. title, and interest d tbe matg,9gor in and to any insaraoce policics t6en in foree shaU p~s~ to tbe qttcbaser a ~ grentee. ~ 8. Th4t the mottgaeee may, at any time pending s suit upo~ this ~aoctgage, ~pply to the caut havia~ jarisdic- tion tlureof for tbe appoiatment oE a cecoiver, and soch caut shsll foct~MiW appoint • receivez af tLe premises covered bereby aIl and singular. iacludiag all pnd sis~nlar the incoioe, pca~Eits. issues. and reveanes fran ~?h~teve~ soarce derived, ~ch and every of wlucb. it bein~ e:peess[r understood. ~s bereby mat~gea ~s ~f spec;f~csily se~ Eath and dese~ibed in the gcaating :nd 6abendnm clat~es hereof, and such receiver sl~ll 6ave alI the bco~d and eEfective functioos and pawers -in anywise entruated by s couct to o receiver, and sncfi appoimoeut shall be aude by snch court as an adnitted equity aad a metter oE absolute rig~t to ssid oatgpg~ee, aud wit6out retereece to the adeqnacy or inadequacy o( the value of tbe property mectg~aged or to tbe solweacy or insolvency of ssid mortg~ga ~ the defende~s. ~nd Uwt s~c6 rents. pcofits, income, issues, aad reveooes slwll be applied by soc6 receiver accordtng to the lien of t6is aortg~ge and the pcactice oE such coutt. M t6e eveat d any defautt on t6e part of the d~octgagor hereund~r; the matgaga agrses to p~y to tbe awrtgpgee oa deaaed as a ceaaoaabLe moathly cental for the premiaes an amount at least eqyivalent to oae-twelkh (1/I2) of tl~ aggredate of tlie tirehre moat6ly iasbll- mcats poyable in the then cu~reat year plus the sctwl amouat e[ tbe aanual taxes. assessmeMs, woter rates, aad insurance preminms for suc6 pear ad coveced by tl~e ofocesaid monthfy poymeets. 9. T6at (a1 ia the event of any breach ef thia moctgage o~ defoult oo N~ p~~t oE tLe mo~tg~gor, or (b1 in the event thet aay of said sams ot moaey herein referr~ed to be nd promptty and fully paid without deaaad or ndice, or (c) ia the event that eacb end every the st'ipulatioas, agceeeieab, coaditiaas, snd coveaants of said aott aad this naoctgege, aK na an~y, promptly. aad fally petforsed; tbea in eitAer a any such event, tbe said aEg~tg~te ' suei mentiooed in said aote then cea~aiaag tu~paid, pitb intecest accrued to that tiee, snd oll mooeys secored hee+eby, sbaU become due and poyoble Eathwit6. or tbereafter. at tbe optioa of soid rat~g~ee. ~s Enily asd coa- pletely as J all of tbe said smns of ~ooney were ori~in~lly ~tipalated to be paid on sucL day, ~ytbin6 in said aote oc ia this mo~tgap~e to the con?rary ndwitbstandiag; and tbereupoo or ihereafter, ot tbe option af ssid matga- i gee, wit6ont notice or demaad, suit at law a ia equity, may be prosec~ted as ~f all moneys secwed hereby 6Ad ~ matured prior !o its iastitution. Tl~e mortgpgee may foreclose this martgp~, as to t6e amom~t so deciwed dne and ~ pa~yable. and the said premises shall be sold to satisfy aad p~y tbe same togetber with cosb, e:penses,aud allow- ~ ances. ~ case o[ partial faeclosure of this a~ort~ge, the mat~~ed premises sl~all be so3d subject to tbe coa- tinuiag lien of this mortgae;e fa the amoud aE tbe dcbt ud thta dne ~od unpai~. te such case Lbe provisions of { this paragraph may api~ be availed oE tbereaftei from time to tiae by ihe matg,n~ee. - + 10. That the a~ott~a~a will give ienmedfat~ notice by atait to tbe awrtgp6ee of any conveyaace, transfec, a change of ownetsbip ef the pcemises. Il. That no ~vaiver of any covenant herein or of tbe oblig~tion secured hereby ~b~ll at ony tiae thereafter be s beld to be a aaiver of the teca~s hereaf or of the note secnred hereby: ' ~ 12. Tfiat if the mat6,tga deEanlt in any of t6e covenants or agceevents contoined betein, a in soid note, tben the morteagee mey perform t6e sam~, ~nd alt expenditntes (includi~ reaconable Attaroey's fees) msde by t6e ~ ~aortgagce in so doin~ sball dra~r interest at the rate set fotth ia tbe nott secnred bereby, aid sha11 be ~epyoble ima~ediatety aad aithout demand by t6e mort~gor to tbe mortgagee, and, togetLet wttb iaterest and costs accruiag : thereon, s6a11 be secured by this mortgpge. ~ 13. tlwt tbe nalling of s~rritten ndice a deaandaddreased to the owoec oE recad d tl+e ~noetga~,ed premises, or dirrcted to tbe said ownet at the last ~ddress sctuelly furnisbed to tbe oatgagae, a directed to said ownec wt ' t ssid ~nortg,aged pcemises, aod mailed by tbe United States maiis, a6aU be sutficteet aottoe aod deeand in aay ~ case srisiag unde~ th'ss iastrWneat ~nd required by tbe pcovisioas hereaf or by law. F 14. The mort~agor fucthec caveaa~ts thst s6onld t6is oat ~ud tbe note secared berebp aot be ell~ible u ~ fa insurance noder tbe Natianai Honsin6 Act ~rithia ftom tbe date bereaf (writbeo state~eat of any otficer oE tbe Departeneat af Housing Qud Ucbap Dev~e eat a•dborja~d igent d tbe Seccetary of Hoas- u ing aad Urbaa DeveloQaent dated sub~equent to tbe ~~Y~ • time iroa tbe date at t~s ~uad~a~e, decW?in~ to insure said aote aed tbis Aort~ge, being dee~d conclusiw proof of soc6 iaeli~,ibilitr). the ~sort~- gee or the holdec aE tbe note awy. at its optiae~, decl~se ~U snms secwed bereby ia~ediately doe aad p~y~ble. ; Tbe covenants hetein coatained shail bisd. aed tbe benetlts 4ad advanta~ps shalf innte to, tLe e~espective ! heirs, eucatars. ~dsinistr~tas. swxesaas, aed sssipis d the parttes bereto. wheaever rsed, tl~e •ie~nlac sw~- bec shali inclnde tiw plonl, tbe ploral fhe sin~ular. ~nd tbe nse of :ny ~eeder slwlt iaclude aU yeadas. . 8~~~ ~~~7 ~ _.v~ - ~ v 1 °