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Home My WebLink About0845 i 5. That he will permit, commit, ot s~fat ~~~~te.` impaJtmtp`, ot detecio~ation of seid property or any part thereot; end in the eve~t ot the (ailu~e ot the mo~tgegor to keep the buildings on said premises and those tobe erected on sald premises, or improvements thereon, in good repalr. the mongegee may make such repeirs as in its discretioe it mey deem necessery to~ the p~ope~ pceservation thereot. and the full amount ot each and evecy such payment shall be immediately due end payable, and shall be secured by the lieo of this mortgage. 6. That he will pey all e~d singular the costs. cherges. and expenses. including reasonable lewyer's tees, and costs of obstracta ot title, incu~red o~ peid at any time by the mortgagee .because o[ the Eailuce on the pact of the moctgaga promptly as?d fully to perform the ~greements and covenants of seid 'promissory note and this mort- gage, aed said costs, charges, end expenses shall be immediately due and peyable and shall be secured by the lien of this ~mortgage. 7. That he will keep the improvements now existing or hereaftet e~ected on the mortgaged pcoperty. insured as may be required from time to time by the mortgagee egainst loss by fire and other hazards. cesualties. and contin- geocies in such amoants and Eor such periods as may be required by mortgagee, end will pay promptly. whe~ due, any premiums on such i~surance Eor peyment of which provision has ~ot been made hereinbefoce. All insurance shall be carried in compenies approved by matgagee and the policies and renewals thereof shall be held by mort- gagee and have attached theceto loss payeble clauses in [avor of and in form acceptable to the mortgagee. In event of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor. a~d each insurance company concerned is heceby authorized end directed to make payment for such loss directly to mortgagee instead of to mortgag« and mottgagee jointly, end the insurance pro- ceeds, or any pert thereot. may be applied by mortgagee at its optio~ either to the reduction of the indebtedness hereby secured or to the restoration a repair of the propedy damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, ell right, title, and interest ot the mortgagoc i~ and to any insurance policies then in force shall pess to the purchaser or grantee. 8. That the mortgagee a?ay. at any time pending a suit upon this mortgage. apply to the court having jwisdic- tion thereaE for the appoiata~ent o[ a receiver, and such court shall forthwith appoint a receiver of the premises coveced hereby ~ll and singuler, including all and singular the income, proEits. issues. and revenues from whatever ' source derived. each and every of which. it bei~g expressly understood. is hereby aiodgaged as if specifically set forth and described in the granting and habendum clauses hereof. and such receiver shall have all the broed and efEective functions and poaers in anywise entrusted by a court to a receiver. ~and such appointment shall be mede by such court as an admitted equity and a matter of absolute right to said moctgagee, and without reference to the adequecy or inadequacy of the value of the propedy mortgaged or to the solvency or insolvency of said mortgagor or the defendents, and that such rents, protits. income, issues. and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such coutt. In the event of any default on the pad of the mortgagor hereunder. the mortgagor agrees to pay to the mortgagee on demand as a reasonable monthly rental for the premises an amount at least eq4ivalent to one-twelfth (1/12) of the aggregate of the twelve monthly ipstall- ments payable in the then cunent year plus the actual amount of the annual tuxes, assessments, water rates, and insuran~~rfWiu for such year ~ot coveced by the aforesaid monthly peyments. 9. ThAt~ ~p1 i~ tl~er~ ~ any bceach of this modgage or defeult on the pad of the mortgagor, or (b) in the event that any of said sums o~ money herein referred to be not promptly and fully paid without demand or notice. or (c11d tbe event thaf e'~CR"~1M every the st'ipulations~ agreements, conditions, and covenants of said note and this mortga~e. ate aet ~ulyf promptly, and fully performed; then in either or any such event. the said aggxegate sum mentioaed ia said;qqt~ then remaining unpaid, with interest accrned to that time. and all moneys secured hereby. s~ell~ become due aad payable forthwith, oc thereafter, at the option of said mortgagee. as fully and com- - pletely as if all of the said sums of money were originally stipulated to be paid on such day, anything in said note oc in this mort~,~e Eo.th~e~fqptrary notwithstanding; and thereupon or thereafter. at the option of said matga- gee, without notice~-~~ denisijd, suit at law or in equity. may be pcosecuted as if all moneys secured hereby had matuced prior to its institution. The mortg,egee a?ay foreclose this mortgage. as to the amount so declared due and payable. and the seid premises shall be sold to setisfy and pay the same together with costs, expenses.snd allow- ~ ances. tn case of partial foreclosure of this mortgage, the mortgaged premises shell be sold subject to the con- f tinuing lien of this mortgage foc the amount of the debt not then due and unpaid. In soch case the provisions of ~ this paragraph may again be availed of thereafter from time to time by the mortgagee. ~ 10. That the moKgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, a ~ change of awnership of the premises. 11. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a waivec of the terms hereof or of the note secured hereby.' 12. That if the mortgagor defeult in any of the covenants a agreements contained herein, or in said note, then the mortgagee may pedorm the samg, and all expenditutes (including reasonable attocney's fees) made by the mortgegee in so doing shall draw interest at the rate set fath ia the note secured hereby, and shell be repayable immediately and witfiout demand by the mortgagor to the mortgagee, end. together with interest end costs accruing thereon, shall be secured by this mortgage. ~ 13. that the mailing o[ a written ndice o~ demandaddressed to the owner of record of the mortgaged premises. w directed to the said owaer at the last address actually furnished to the mottgagee, or directed to said awner at said mortgaged premisea, and mailed by the United States mails, shall be snfficient notIce and demand in any ~ case arising under this instcument and requiced by the provisions hereof oc by law. 14. The mortgagor further covenants that should this matgage and the note secured hereby not be eligibie for inaurance under the Natioaal Housing Act within ~Q DAYS fcom the d~te hereof (written statement of any officer oE the Department of Housing and Urban Development or authaized agent oE the Secretary of Hous- ~ ing and Urban Development dated subsequent to~ the time from the date of this mortgage. ~ declining~ to insure said ~ote and this mortgage, being deem•~d coaclUsive proof of such irteligibility), the mortga- ~ gee a the holder d the note may, at its option, declare all sums secuced hereby. immediately due and payeble. The covenants herein contained shall bind. and the benefits and advantages shall inure to, the respective ~ heirs, executors, administrators, successors. and assigns of the pedies hereto. Whenever used, the singular num- ber shall include the plural, the plural the singular, and the use of any gender shall include ell genders. ~ ~ ~ ~00~188 ~ 844 _ _ , ~ , - -w ~ ~ ~ .~r~'>„,'-~~ ~ •~"•,-s" -zx 7=4"`' ~.a'' ~ . ~~~~'~`.~~'~s~~ . _