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Home My WebLink About1683 5. That hc will permit, cummit, or suffer ~o, wasle, im{~ai~m~t, or dete~ioration of said propecty o~ any pa~t thercaf; and in the event ot the f~~iluce ot thd lnortgagor b kee the buildings on said premises and those tobe erected on said premi~e~, or tmpro~~ements thereon, in good ~epair, ihe morigagee may make such repairs as in i!s discretion it may deem necessary tor the p~oper preservation there~f, and the fuli amount of each and every such papment shaU be immediately due and payable, and shall be secured by the lien of this mortgd~~. 6 That he will pa~~ all and singular the co<<~. charRes, and expenses, including ceasonable lawyer's fees, anci co~ts of absiracts af title, incurred or paid at any time bythe mortgagee.because of the failure on the part ot the mortgagot promptly and (ully t~ perform the agreements and covenants of said promissory note and this mort- gage, ~+nd said costs, cha~ges, and expenses shall be immediately due and payable and ~hall be secured by the lien d this mortKagc. 7. That he wiU keep the improvements now existing or herea[ter erected on the mortgaged property, insure: as may be tequired from time to time b}• the mortgagee against loss by fire and other hazards, casualties, and contin- gencies in such amounts a~d (or such periods as may be required by mortgagee, and will pay promptly, when due, anp premiums on such insurance tor payment of which provision has not been made hereinbefore. All insurance shall be carried in companies dpproved by mo~tgagee a~d the policies and renewals thereof shall be held by mort- gagee and ha~•e attached thereto loss payable clauses in favor of and in form acceptaUle to the mortgagee. In e~~ent ot lo~s he will gi~•e immediate notice by mail to mortgagee, and mortgagee may make proo[ of loss if not made promptly b~~ m~rtgagor, and each insurance company concerned is hereby authorized and directed to make pe+yment for such los~ directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance pro- ceeds, or any part thereof, may be applied by mortgagee at its option either to the reductio~ of the indebtedness hereby secured or to the restoration or repair ot the property damaged. ln event o[ Eoreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment ot the indebtedness secured hereby, all right, titlc, and interest of the mortgagot in and to any insurance policies then in torce shall pass to the purchaser or grantee. 8. That the mortgagee may, at any time pending a suit upon this mortgage, appfy to the court having jurisdic- tion thereot for the appointment oi a receiver, and ~uch court shal! forthwith appoint a rece~ver of the prem~ses cu~~ered hereby all and singular, including all and singular the income, profits, issues, and revenues trom whatever j ~ource deri~~ed, each and ever~• of which, it being expressly understood, is hereby mortgaged as if specitically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad arxj effecti~~e function~ and powers in any~wise entrusted by a court to a receiver, and such appointment shall be made by~ such court as an adm~tted equity and a matter of absolute right to said mortgagee, and witliout reference to the :+dequacy or inadequacy of the value of the prope~ty mortgaged or to the solvency or insolvency of said mortgagor or the defendents, and that such rents, profits, income, issues, and revenues shall be applied by such receive~ accordin~ te the lien of this mortgage and the practice of such court. ln the event of any default on the part ot the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on derqand as at ~tasonabl~ monthly rental for thc prem~ses an amount at least equi~•alent t~ one-twelfth (1 ~12) of the aggregate of the twelve monthly install- ments payable ?n the then current year plus the actual amount of the annual taxes; assessments, water rates, and ' f ~nsurance prem~ums for such year not covered by the aforesaid monthly payments. ~ ; 9. That r~~ ~ in the event oE any breach ef this mortgage or deEoult on the pad o~ the mortgagor, or (b/ in the ~ e~•ent that an~• of said surns o[ Toney herein referr~d to be not promptly and (ully paid vrithoyt demand or notice, ~ or in the e~•ent that each and e~•ery the stipulations, agreements, conditions. and covenants of said note and ~ this m~rt a e, are not dul rom tl and full • rformed; then in either or an such event, the said a re ate ~ gg ~ P P S yPe Y Bg 8 ~ sum mentioned in said note then remaining unpaid, with interest accrued to that time, and a!1 moneys secured he:eby~, shail become due and papable forthwith, or thereafter, at the option of said mortgagee, as fully and com- ; pletely~ as if all o( the said sums of money v?ere originally stipulated to be paid on such day, anything in said ~ note w in this mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said matga- gee, without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had ~ matured prior to its institution. The mortgagee may foreclose this mortgage, as to the amount so declared due and ~ pa}~able, and ihe said premises shall be sold to satisfy and pay the same together with costs, expenses,and allow- ~ ances. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- ~ tinuing lien of this mo~tgage for the amount of the debt not then due and unpaid. In such case the provisions of ~ this paragraph may again be availed of thereafter from time to time by the mortgagee. ; 10. That the mo~tgagor will give immed~ate notice by mail to the mortgagee of any conveyance, transfer, or ~ change of ownership of the premises. ~ ~ 11. That no waivei o[ any covenant herein or ot the obl~gation secured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the note secured hereb~~. 12. That if the mortgagor default in any of the covenants or agreements contained herein, or in said note, then the mortgagee may perform the same, and all expenditu~es (includ~ng reasonable attorney's fees) made by the mortgagee in so doing shall draw interest at the rate set forth in the note secured hereby, and shall be repayable ~ immediately and without demand by the mortgagor to the mortgagee, and, together with interest and costs accruing ~ thereon, shall be secured by this mortgage. ~ 13. that the mailing of a written notice or demandaddressed to the owner ot record of the mortgaged premises, ~ or directed to the said owner at the last address actually furnished to the mor2gagee, or directed to said owner at ~ said mortgaged premises, and mailed by the United States mails, shall be sufficient notice and demand in eny case arising under this instrument and required by the provisions hereof or by law. ~ 14. The mortgagor further covenants that should this R~ortgage and the note secured hereby not be eligible for insurance under the National Housing Act within 30 Q/~~ J from the date- hereaf (written statement of an}• of(icer of the Department of Housing and Urban Development or authorized agent of the Se:.retary of Nous- ing and Urban Development dated subsequent to~ the ~~Y, time from the date o( this mortgage, declining to insure said note and this mortgage, bei~g deem~~d conclusive proof of such ineligibility), the mortga- gee or the holder of the note may, at its option, declare all sums secured hereby immediately due and pa}eble. ~ The covenants herein contained shall bind, and the benefits ar~d advantages shall inure to, the respective ~ ~ heirs, executors, administrators, suc:essors, and assigns of the parties hereto. IVhenever used, the singular num- ~ ber shall include the plural, the plural the singular, aad the use of any gender shall include all genders. ~ ~ ~ ~ ~ ~;3 } ~ ~ ~ O ~ ~ ~ooK 18`fi ~ i683 ~y ~ . . ~ _ ~S..:J.:il"'~ i~ _Ci' . . .~"~.i~ ,CS' ~