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Home My WebLink About0424 5. That he will permit. commil. or sufEar no waste. impaument, or deterio~tion oi seid pcoperty or aay pad theeeof; and in the eveet of the failuce d the moctgagoc to keep the bui{di~s on said premises aad tbose tobe erccted on soid premiaes. or improvements thereoa. In good ~epai~, the moctgagee may~make such cepsi~ as iA its disccetion it may deeoi necessacy for the proper presen+ation thereof. and the tull anouM o[ eacb and every such ~ payment shall ba immed'wtely due end p~yable. and shall be secured by the lten of thls ooctgoge. ' 6. That be w111 p~?y a!1 and singular the cests~ charges, aad expenses. iacl~rdiag ce~soaeble l~~ye~'s fees, ~ and costs of abstracts of title. iacY~red vr pald at any time by the matgogee because ot the failure oa the pod of the mo~tgagoc promptly and fully to perEocn tbe ~greements aad coven~nts of ssld'pcaaissay note aad this moet- Qege, and said costs. cl~rges. and e:penses shall be immediately due and pnyable and shall be secured by the lien oI this nw~tg,pge. Th4t he will keep the impcovemeats naw cxisting a hereattet e~ected oo the matgaged property, iasuced as may be ~cquired from time to time by the matgasee aeaiast loss by fite aad othec h~~rds. casuAlties. ond coAtin- geacies in such wmounts aad for such periods as ay be required by mat~agee. aod witl poy pro~aptly, wben due, any ptes?iu~ a? such insurance tor poyment ot whicb p~ovisioa has not beea enade hereinbeEae. All insurance shali be ca~aied in companies appcoved by matgpgee oad the policies and renerrels thereoE shell be held by aat- gp~ee oad heve attached theceto loss payable clauses in f~va of and In fa+~a aeceptable to the matgpgee. In eV@A~ Of 1068 I{C MIII gIV! inimediate aotice by aail to ooct~gee, aad Aortgagee nay awke pcoof of loss if na ewde pranptly by mo~tgago~. and each insurance coap~ay ca~cemed is heceby authoriaed and directad to aake Qaymeat Eor sach lo~s ditectly'' to abrteagee instead of to a~at~pga~ aad aat~~ee joinUy, and tbe iasrraacr pra ceeds, or aay pad theceof, may 6e applied by moctgagee at itt oQtien eltker to the rednctioe oE tbe ladebtedaess bereby Qecw+ed or to tl~e restoratioa at repair d the pcopedy doaia~ed. In event of foreclosure aE tbis moeta,age or other tr~nster of title to the moctgaeed p~opedy ie extinguiahment ot t6e indebtedness secuad beeeby, all right. title. and intereai cf the mateaga~ in ~dd to eny iasaraoce policics tbe~ in force shatl p~as to tbe parcbaser or grantee. - 8. 'That the mottgagee may~ at eny tIme pendiog • sait upon this moclgage, apply to the caM lwviae jotisdic- tioa thcecof fo~ tbr appointment aE a receiver, aad sncb cauet shall Eortbwith ~ppoiat • caceiver of the p~emises covared bereby etl aAd siagular. iaclndiag all end aiagular the income, prcfits. isaues, and rsveaue~.from wl~teve~ sonrce derived. ~ch 4ad evecy oE arhicl~. it being expaessty nndeestood, is 1r~reby mort6aQed ~s if apec~fic~Uy set fo~tb and described in the grantirtg end bQbendum cLuses heceoE, sad suc6 nceivec sho11 h~ve sll tl~e bco~id aad effective functioas and powecs ia any~vise enttusted by a caut to o recelver, and sach appoiatoeut s1uU be ~oade by auch caut as an adioitted equity ~ad o awtter of absolute rigbt to soid ao~t~gee. and rrithout reteceoce to tl~e adequacy oc ioadequacy of t1~e value oi tht propeety mo~tgpged or to ihe solvency or inaolv~eacy of said watg~ga or the defendents. aed tlwt suc6 reats. pcafits. Lu.wme, isseea, aad ceveaues sl»~ll be opplied by snc6 receiver acco~ding to the lien of this satgege ar~ tbe pnctice ~ such couet. ta the eveat af aay defauu ae the put of the mortg~gor heeeuader. the matgaga agre~s to paq to the matgagee aa demand as a re~teaable manthly cental for the pcensises aa omounc at least eqyivelent to one-twelfth {1/12) of tbe a~grepte af tLe twelve moatl+ly iastall- meats poyable in the then c~rreat y~eor plus the actual amouat ef the annwl taxes. asseasmeots. woter rates. nad insuraace paemiume for such yeor not covened by the ofaes~id moathly payu~ts. 9. Tbat (oJ in tbe eveat of a~y breach of t6is mortgage oc default an ths part vf tbe mat~~o~. or (6/ in the event that any of seid sna~s at money hereia refened to be not promptly aad fnlly poid without demsad a Aotict, oc {c1 in tl~e event tl+~?t eacb and evey the stipnlations, a~eemenis, conditioas, and covenants of said aota aad this matgage. are nd dnly, proanptty. aad fuily pedorsed; then In eitl~er oc any a~ch eveat, the said o~te sum aeatioaed in sald ROt~ UIlA t'@OIY10111g iiOpYi~, ~vith iaterest aocrued to th~t ti~ue, aod 411 soneys secaed bereby, shall becoa~e d~ ond p~yablc fath~vith, a thereaRer, at the option ~ s~id ~oct~pgee. as Enlly and co~a- pktely as if sU af the said sums of money wece origi~wlly stipnlated to be peid oa such day, anytbias in said note ec in this oatga~e to the conkacy aatMrithstanding; and tleereupoo cr ther~aftet, at thr option aE spid martgo- gee, wit6out notice or demand, anit et law a ia equity, may be prosecuted as {f all mnoeys secueed beceby Iwd matured pria to its iastitution. The moct~pgee moy focectose this martgpge. as to tbe amount so decland due aad poyable, *nd the said premisea shall be sold to aatisfy aad poy tbe some toQether with coeta, e:penses,~nd ~Uar- ~ ances. W case of partial forecloauK of thls inoct~pge, the enatg~aged pemiaes sl~ll be sold anb3eet to N~ con- i tianisg lien of this nwrtgage fa We amoant of tbe debt not tben due oad unpeid. ta sucb c4se t6e ptavisions of ~ ibis p4ragraph nwy agaia be availed ot thereafter from time to tiiee by the martgp6ee. ~ 10. That the mottgaga wlll give iramediate nottce by mait to the mottg,~gee oE any canyeyauce, transfer, ~or chaage oE awnecsbip d We pcemises. 11. 'fhat ao ~vsiver of any covenant hereln a of the oblig~tion secuced bereby shail at aay time thereafter be beld to be a waivrr of tbe teems hereof a of the note secared hereby: ~ 12. Tbat if the martgagor defaalt in any of tLe covenaata ac agreements coatained becein, a in said note, then the mortgegee may perform tbe sam~, and all expeaditqes (iAClading ceaconable attvroey's fees) made by tEie mortgagee in so doing shall draw interest at t!~ rate set fatb jn the note secn=ed bereby, and shall be repayable immediately and without deawnd by t6e moctgagor to the moKgagee, and, togetber with inter~st and costs eccruin~ thereon, s6a11 be secured by this moctg,age. - 13. tlwt the mailing of a wsitteA ndice a de~oandaddseased to the owaer of record ef tLe a~atgag~ed premises. oc directed to the seid e~vner at tfu tast address actually furnisbed co cbe .?atgagee, or diiected to wid a?oer ~t said a~ortgpged p~emises, aad ~ited by the United States maits, abell be sudEicient aaice ~d de.and in en~ € cese arisiag undec this instrument and reqnlred by the psovislo4s heteof a by law. ~ 14. The mort~agor fnether coveaaats tbat s6ould this moct aad t6e aate secw~ed 6eceby not be elig~bk f« inaursace ander the Netioaal Nousing Act within from tbe date hereaf (writtea st~teAent ~ of any officer of t6e Dep~ct~oent of Hoasin~ and Urban Devel eat a•~borised ~gent of tbe Secretary of Hoas- an ing nnd Urban Devel~opsent dated sub~tquent to the ~ Y~ • time iroo t6e date af tl~is mort~ge, ~ declining to L~sure said aote aod this woRgra$e, beiag deem9d conclasive proof oE sncb ineligibility), the oatga- gce or the holder af tbe note mey, at its optloa, declare all snms secwced hereby inmedi~tely due aad p4pble. Tbe covenants herein caatsined shaU bind, and tlie benetits and advanta~,es sLa13 Inare ta. tbe ~espective heirs. esecutas, administcators, successas. and assigns d the partks heteto. W6e~ver used, tbe siasalar nwa- ber shall incl~de the plural. the plural the singular, and tbe nse of any gendet slwll include all ~eAders~. ~ QQ ~ 600K 1W PAGE ~ - ~ ~ ~ ~ . . , , _ ¢ - - , Y ~ - .