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Home My WebLink About2285 S. That he will permit, commit. a.s ec. ap wastp.,,itpq~ nient. ot deterioration ot said property or any pett thereof; and in the event ot the tail~ue, o~tj~•inottga~o~*t~ I~ep the buildings on said premises and those tobe erected on said p~emises. ot improvements theceon, in good repair. the mottgagee may rtwke such repeirs as in its discretion it may deem ~ecessacy for the proper preservation the~eof. and the tull amount nf each and every such poyment shell be immediately due and payable, a~d shall be secured by the lien of this mortgege. 6. That he will pey all and singulac the costs. cherges. and expenses. iacluding ceaso~able lewyer's tees, and costs of abst~acts o( title, iocurred or paid at any time bythe moctgagee because of the feilure on the pect ot the mortgagor ptomptly and fully to perform the egceements and cove~ants oE said'promissory note end this mort- gage, and said costs. charges, and expenses shell be immediately due and peyable and shall be secured by ihe lien ot this mo~tgage. 7. That he will keep the improyements now existing or hereafter erectca on 1he modgaged pcopeKy. insured as may be cequired from time to time by the mortgagee egainst loss by fire and other hazards. casualties. end contin- gencies in such amounts and fot such pe~iods as may be required by mortgagee. and will pay promptly~ when due. a~y premiums on such insurance for peyment of which provision has not been made hereinbefoce. All insure~ce shall be cacried in companies approved by moctgagee and the policies and renewals thereot shall be held by mart- gagee and have attached thereto loss peyable clauses in favor of end in form acceptable to the mortgagee. ~ Ia event of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgegor. and each insurance company concerned is hereby authocized and directed to make payment for such loss directly to mortgagee instead of to mortgagoc and matgagee jointly. and the insurence pro- ceeds. or eny part thereoE, mey be applied by mortgagee at its option either to the reduction of the i~debtedness hereby secured or to the restoration a cepair of the property damaged. In event o[ foreclosure of this mortgage or other transfer ot title to the modgaged property in extinguishment o[ the indebtedness secured hereby, all right. title. and interest of the mortgaga in and to any insurance policies then in force shall pess to the purchaser or grentee. 8. That the moctgagee may. at any time pending a suit upon this mortgage, apply to the court having jurisdic- tion thereof foc the appointment of a receiver, and such coad shall forthwith appoint e receiver o[ the premises covered heceby all and singular, i~cludiag ell and singular the income, pro~its. issues~ and revenues from whatever source derived, each and eve~y of ahich, it beiag expcessly understood, is hereby modgaged as if specifically set forth and described in the granting and hebendum clauses hereof.. and such receiver shall have all the broad and effective functions and powers in anywise entrusted by a court to a receivec, and sycb aQpoir~tm~nt shsll be made by such court as an admitted equity and a matter of absolute right to said mortgageet an~ ~rithout reference to the adequacy or inadequacy of the value of the propedy mortgaged or to the solvency a insolvency of said modgagor or the defendents, and that such rents, profits, income. issues. and reve~eS sball ae pp~fed ~y, such receiver according to the lien of this mortgage and the practice of such coud. ln the eVen~,of atly~f~~t~the part of the mortgagor hereunder, the mortgagor agrees to pay to the modgagee on demand as a reasonable monthly rental for the premises an amount at least eq~ivalent to one-twelEth (1/12) of the aggregate of the twe vT'e "monthly install- ments payable in the then cunent year plus the actual amount of the annual taxes. assessmeAtS; water rates, and insurance premiums for such year not covered by the aforesaid monthly paymeqts: 9. That (01 in the event oE any breach of this modgage or default on the ped of th~e mat~sgor, or (6) in the event that any of said sums of money herein referred to be not promptly and fully paid without demand or notice. o~ (~1 in-the event that each and every the st'ipulations. agreements. conditions, and covenants ~of said note and this mortgage, are not duly. promptly, and fully performed; then in either a any such event. the said aggregete sum mentioned in said note then remaining unpaid. with interest accrued to that time, snd all moneys secured hereby, shall become due and payable forthwith. or 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 sach day, anything in said ; note or in this modgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said matga- t gee, without noti~e or demand. suit at law or in equity. may be prosecuted as if all moneys secured hereby had ~ matured prioc to its institution. The modgagee may foreclose this mortgage~ es to the amount so declared due and ~ payable, and the said premises shall be sold to satisfy and pay the same together with costs, espenses,and allow- ances. In case of pertial foreclosure of fhis mortgage. the mortgaged premises shall be sold subject to the con- ~ tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the provisions of this paragraph may again be availed of iheceafter from time to time by the mortgagee. 10. That the modgagor will give immediate notice by mail to the modgagee of any conveyance, transEer, or change oE ownership 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 waiver of the terms hereof or of the note secured hereby.' ~ 12. That if the arortgaga default in any of the covenants or agreements contained herein, ot in said note. then the moctgagee may pedorm the samg. and all expendit~ues (inclading reasonable attaney's fees) made by the mortgagee i~n ~SO doing shall draw interest at the rate set focth in the note secured heceby, and shall be repayable immediar~ely and without demand by the mortgaga to the mortgagee~ and, together with interest and costs accruing thereon, slwll be secured.by this modgage. 13. that the a,~iling of a written notice ur demandaddressed to the owner of record of the mortgaged premises, or d~rected to the sai~ owner at the last address actually furnished to the mortgagee, or directed to said aavner at said•modgeged premises, and mailed by tbe United States mails, shall be sufficient aotice and demand in any case arising under this instrument and required by the pcovisions hereof ot by law. 14. The mortgagoc further coveaants thst should this mortgage and the aote secured hereby not be eligible for insuraace under the Natioaal Housing Act wjthin ~ OpY, from the. date bereof (written statement ~ of any officer of the Department of Housing and Utban velopment or authorized agent. of the Seccetary of Hoas- ~ ing and Urban Development dated subsequent to~ the 30 time from the date of this mortgage. ~ ~ declining to insure said note and this mortgege, being deemed coactusive proof of such ineligibility), tbe modga- ! gee or the holder d the note may, at its option, declare all sums secured hereby immediately due and payeble. The covenants hecein contained shall bind, and the benefita and advanteges shall inure to, tbe respective heirs, executocs; administrators, successocs. and assigns af the parties hereto. Whenever used, the singular num- ber shali include the plural, the plural the singular~ and the tise of any gender shall include all genders. i . ' . 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