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Home My WebLink About2976 ~ ' • . +'r ` S. Ti~t he wip pei~it. canwit~ a sut~et no wsste. i~p~i~~M~ ot dNetior~tioa ot s~id ptopeKy a ~aY p~N tbeeeof; •ad ia the eve~t oI tM t~ilun d th~ aott~a~ot to ke~p, tbe bs~iWi~s os said prewis~ ~+~d tho~s tob~ ~rectad oa said pce~ises..et i ~ts4~ ia ~ood rep~tt. tb~ watp~es ~r ~aske s~rA r~p~its ~s iN its discretioa it way de~s Me~as~~tl~ pN~~sKV~tioa tl~ereot. •ad tM tnll ~wauat a[ e~c? ~nd ~v~r~? s~ch p.ya~e~t ah.Il b~ t~nedlacely du. •ad p~yrbl~. aud sMll b~ secured by eh~ tiea ot ehis .oN`.p. , 6. Th~t he will p~y ~t! ~ad sln~uleit th~ cvats. cbar~s. ~nd e:penses. tacludin~ ~saNble tawyer's tees. •nd costs ot abstn~cts af titb. incuned or p~id at any tioe bytbe eat=a~ee bec~use cf tIN (dtuce on the p~n aE cbe a~«tga~« pwApcly •nd fully co p~~t«w tM a~ne~ents aad cowaaats aE said'prowissory not~ rnd tbis scrt- ~a`e~ aad said costs. cha~es, and eYpaas~s shall b~ iiee~ediatety dne at~d p~y~ble and shall be securod by the lien af this oort~o~e. 7. That he will keep the impwvemeAts aoMr existin~ a heteaEter ecect~d oa the moetp~ed pcoptrty. l~suced u awy be requiced ho~ tfae to time by ihe mat~a~ee a~aimt lass by (ire and otber twsuds. caswities. and contie- gencies in sucb amountQ and foc such perlods os awy be ceqnired by mort~a~ee. ~ad Mrill psy ptooptly. when due. any premlums on s~ch insuronce ta poymeat of which pcovision has not beea awde herelabeEae. Ali insunace shall be canied in comp4nies app~oved by moetg,'gee oad the policks •nd rene~r~is tbeeeof sball be held by aort- ~ gagee and have attoched theceto loss peyable clauses in fava oE and in for¦ acceplable to the mort~gae. In event of loss he Nill glve immediate netice by eaail to mat~agee. and mortgagee a~y aaloe proof oE lo~s if nat roade praaptly by matgagor. and each insurauce compoay coacemed js heeeby authocised aad dicected to make payment f« such loss di~ec~ly to matgAgee iastead of to matgra~a aad matp~ea joiatly. ~ad tbe iasurance p~o- ceeds~ oc any pwt thereof. may be applied by m«tgagee at its option eitl~er to t6e rednctioa of the indebtedaess hereby secured w to the restoration a repair af the propedy damaged. Ia eveat of fa~eclosure cE this mortgage oc othsr.._transfec oE title to tl~e a~ort~ged propeety In e:tiaguishment af the indebtedness secure~ hereby. all right, tttle. and interest of the matgaga Ie~ and to any insurance pc,licies then in face sball pass to the purchaser a. graatee. . 8. Thet the mortgagee aiay, 4t aay time pending a suit upon this moctgage, apply to the caut lwving juri~dic- tion tbereaf fa the appointment of a ceceiver, and such court shall fathwith appoint a receiver oE the qemises covered hereby all and siagular. iacluding all and singular the income. pcefits, issues, ~ad reveaues from wiwtevec - source decived. each and every of which. it beiag eapressly understood. is hereby matg,aged es If specifically set : forth aad described in the greating aad habendum clauses 6ece.wf. and such receivec stwll have •11 tbe bcood and effective functia~s and powers in anywise eatrusted by a couct to a receiver, aad such appointment siwll be made by such court as en admitted equity and a matte~ of absotute right to said matg~gee. aad without refeceuce to~t6e adequacy or inadequacy of the valne of the propedy matgaged a to the solveacy or iasolveacy af s~id mortgpga _ or the defendents, aad that such rents. pcoflts. incoaie. issues, aad reaeauss sL~~t l~ ap~llli~.by sucle receiver accading to the lien oE this mortgage and the pcactice of such cou~t. Ia ti~e eveat of asyykEault on the p~d of the modgagor hereunder..the mortgagoc agrees to pay to the matgagee oa demand as a reasoapble moathly reatal fo~ the premises an amount at least eqµivalent to one=twelfth (1/12) of the aggce&ate af the t~velve monthly iastall- . ments payable in the then curceat year plus the actual amount of tbe ~anwtl-ta~~. s~ss~eAt~~rater rates. and insurance_ pcemiums fw such year nat covered by the aforesaid monthly payinents. ' 9. That (a1 in the event of any breach of this modgage or default oa the portaaf ,th~' (~goc. or (b) ia ihe event that any of said sums oE money hereia referced to be aot pcomptly aad fully poid wit~ demaad or aotice. or in the event that each end evecy the• stipulations, agReea~eats, coad~tia~s, ~ndl~:ov~wnt~ ;of said note sad this mortgage, are aut duly~ promptly. and fully performed; tben ia eit6~r ~o~; apy sue6 ~tl~ ~aid aggregate sum mentioned in said riote thea remaining wtpaid. with iaterest accrued to that tlm~. aad all moneya sacured hereby. shall become due and payable Eocthwiths a thereafter, at t6e option of said matgagee, as fully wd com- pletely as if all of the said sums of money wece origiaelly stipulated to be poid en such day, anything ia said note a ia this mo~tgage to the coatrary not~vithstaadiag; aad theeeupoa or theceaEter. at the optioa of said matga- gee, ~rithout notlce or demand, snit at law oc ia equity. cwy be proaecuted as if all moneys aecured hereby had i a~etured prior to ics iastitutioa. The moctg,agee awy focaclose this matgage, as to the amount ao declared due and ~ payabte, a~a tt,e ~ia p~e~i$e$ shat~ be sotd co sacisfy ona psy cbe ~~os togec~ witb co~cs. e:penses.and allow- ~ ances. In case of pactlal foreclosuce aE this roatg~age, the mat~aged pcemises shall be sold snbject to t6e con- tiauing liea of this mortgage for tha amouM, of tbe de6R not then due and unpaid. In such case the provisioas of ~ this paragraph may again be availed of thereaRerfrom time to time by the matgagoe. 10. That the awrtgagor will give immediate notice by mail to the mortgpgee of a~y conveyance. transfer, or chauge of o~vaers6ip af the prea~ises. - Il . TTh,.a~ ao Weiver o[ any covenaac herein « of che obli~,acia, secured beceby shali ac any cime ihereaECer be f held to be a waivec of the terms hered or of the note secured hereby: 12. ?6at if the matgaga default ia any of tl~e covenanb or agieeaieats contaiued l~ereiu. a in said ~eote. then the mortB,agee may perform the saa~, and ell expendit~s (iacluding ceasoaable attaaey's fees) a~e by the mortgagee in so doing shall draw interest at the rate set fath in the aote secured hereby. ond shall br repoyable immediately and without demaad by the mortgago~ tp the mortgegee, aad, together wlth interest and co~ts accrning thereon. shall be secured by this modeage. - 13. that t6e meiling of a written notice ac demoadaddressed to tl~e a~vaet d record af.the matga~ed pcemises. or directed to t6e aaid awaec at the last address actually furnished to the matga~ee. or directed to sald owaet at said moct~~eed psemises, and malled by the Uaited Statea mails. sball be suEticieat notice and demand ia aay case Arising uadec tbis instrumeat and eequired by t6e pcovisians heraaf o~ by law. . 14. The mortgagar further coveaaats tlwt skonld Wis sat~,a~e and t6e aote secnred here6y not be eligibk for ias~uaace under th~ Natlaaal Housiag Act althin ~y lk?~?s from tbe date hered (written statement of any oUicec af the Departmeat of Ho~sing aad U~baa Develop~eent oc auRhecised ageat oE t1~e Seccetary of Homs- ing and Urban Developmeat dated snbsequeat to tbe ,'~~l~,~,C tiaie t~m tLe date oE this satp~e, decliniag to iasurc said ada ond this mat~~e. beins {{e~~ C~d~lusive prooE cf anch inelisibilitY). the aoct~a- gce er the 6older af tbe aote may, at its option. declare all snms secured bereby im~di~tely due and popble. t The coveaants l~ereia ca~tained shatl biad. aad t6e beneflts aad advanta~es shall iiwre to, tbe respectlve heirs. esecutas, admiaistratas. successas. aad assips d tbe padiea hereto. ~6enever used, the sie~ulu aum- ber shall include the plurol. the plnral tbe siagular, a~d tbe use of aay ~ee~det sl~all include all ~enden. . - . ~ ~i.86 ~ ~ ~ _ ~ ~ _ : . _ _ _ - n: ~ ~