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Home My WebLink About2399 ~ , j , ~ 5. That he wiil permit. comm+t. or suffec`~ar~aste. i~b~iitrment. o~ dete~io~otioo oE said propeKy or any pp~t thereof; and in the event ot the [ailu~e ot the mon~a~or to keep the buildin~s on said promises and those tobe • e~ccted on s~id premises. ot im{xovements theMOn~ in good tepoir. the matga~ee nwy awke such ~epoirs as in !ts discretian it aMy deem necessuy for the proper preservatloe therect. and the full amount of each and every such payment slwll be immediately due aed poyroble. and shall be secured by the Ifen af this mortgage. 6. That he will pay all and siAgular the costs. char~es. and expenses. iecluding ceasoaable lawye~'s fees. ind costs of abst~acts of tltle. incuned a paid at any time by the mortga~ee because of the feilure on the port of the mortgagoc promptly e~d fully to pecform the agceements pnd covenants of said'promissocy note and~this mort- ~age. and saId costs. cliarges. and expenses sheU be Immediately due and payable end shall be secured by the lien af this mortgege. 7. That he will keep the Improveme~ts now existi~g ot heceafter erected on the mortgaged -property. insured as may be cequfced fcom time to time by the mortgage~ against loss by fice and other hazards. casualties~ and contin- gencies in such amounts end fo~ such periods as awy be cequired by mortgagee. aad ~vill poy promptly. when dne. any pcemiums on such insurance for peyment oE which provislo~ has not beea made hereinbefoce. All insuraece shall be carried in companies appcoved by moctgagee aad the policies ac~d renervels theceof shall be held by moct- gagee and have attached thereto loss payable clauses in favor of and in Eorm acceptable to the modg,agee. In event of loss he will give immediate notice by msii to moctg,agee. and mortgagee may make prooE of loss if not made promptly by moctgagor. p~nf each insuraace compa~y concemed is heceby. autho~ised and d'uected to make payment for such loss dieectly to mortgagee instead of to matgagoc and mat~agee joiatly. a~d the insurance pro- ceeds. or any paet thereof. nwiy be applied by moctgagee at its optioa eitbec to tbe reduction of the i~debted~ess hereby secuced or to the restaation oc tepair of the propedy demeged. In event d foreclosure of this moctgage or other tcartsEer of title to the mo~tgpged property in e:tinguishment oE the indebtedness secured hereby~ all right. title. ertd interest of the matgaga In and to aay Insurance policies thea in force shall pess to the purcheser or grentee. ~ 8. That the moctgagee tnay. at any time pending a suit upon this moctgage. apply to the court having jurisdic- tion thereof for the appoiatmeat oE a receiver, and such cowt shall forthwith appoint a ceceiver oE the premises coveced hereby all and singultu, including all and siagular the income, prafits, issues, and revenues from whatever source derived. each aad every of ~vhich. it being expressly understood. is heteby mortgaged as if specifically set fodh and described in the gruatiag and habeadum claases heraof. and snch ~eceivec shall hsve all the broad aad effective functions artd powers in anywise entrusted by a court to a receiver. and such appoiatment shall be made by such court as an admitted equity and a matter of absolute right to said matgagee~d ~r~t~tol~ ~efecer~ce to the edequacy or inadequacy of the value of the propedy mortgeged or to the solveacy a i~nsolvency of said moctgaga or the defendents. and that such rents, profits, income. issues. and ceve~qs ~1~11 ~e~Q l;ed b such receiver according to the lien of this mortgage a~d t6e pcectice of such caut. Ia tbe ~~rei~C of any~dl~~t~ ~the pad of the mortgagor hereunder. the matgagor agcees to pay to the mortgagee on demand es a reasoaeble monthly rental for the pcemises an amount at least eqµivaleat to one-twelfth (1/12) of the a~regpte af the"'E~td!'eonthly install- ments payable in the then current year Qlus th~ actual amount of t6e annual ta~ca~. assessmentf, water rates. end insurance premiums for such year not covered by the afaesaid monthly payaieuts. . 9. That (o) in the event of any breach of this mo~tgage or deEealt m the pad of the ~gor, or (6) in the event that any of said sums of money herein referced to be not pcomptly and fally poid without demand oc notice. or (~1 in the event that each and every the stipulations. agceements. caaditioas. a~d covenents of said note aud this modgege. are not duly. }xomptly, and fully performed; then in either a any soch event, the said eggregate sum mentioned in said note then remaining unpaid. with iaterest accrued. to that time, aad aU moaeys secured hereby, shall become due and payable focthwith, o~ thereafter; at the option of said matgagee. as fully sud com- pletely as iE all of the said sums of money were origiaally stipnlated to be Paid on such day. anything ia said ' note o~ in this mortgage to the coafrary notwithstaadiag; and thereupoa or t6e[eafter, at the optioa of said mactga- j gee, without notice or demand, suit at laa or in equity. msy be prosecuted as if all moneys secured bereby had I matured prioc to its institution. The moctgagee may foreclose this mortgage, as to the aawuat so declaced due and ` payable. and the seid premises shall be sold to satisEy aad pay the same together with costs. expenses,and allow- ~ ances. In case of pertial foreclosure o[ this matgage. the mortgaged premises shall be sold subject to tha con- ~ tinuing leen of thia mortgage for the amount ef the debt not tLen due and unpaid. In snch case the provisioas oE ~ this pacagraph may again be avaikd of thereafter from time to time by tbe matgra~ee. ~ ; 1Q. That the matgagor will give immediate notice by mail to the mortg,aeee of any coaveyance, tcansfer, a ~ c6ange of oqvnership of the pcemisea. ~ 11. That no araiver of any covenant herein a oE the obligation secured hereby sball at any time thereafter be ~ hetd to be a waiver of the terms hereof or of the note secured hereby: ~ 12. Tbat if the mo~tgagor defsult in any of the covenants a ag,reemeats contained berein, a ia sajd note, then the mortgagee mar perform the samg, snd all expe~it~tes (includiag reasonable attaney's fees) made by the mortgagee in so doing shell dcaw interest at the rate set forth in the nde secwed hereby. and sball be cepayable immediately and witbout demand by the moctgaga to tbe mortgagee, and. together with iaterest and costs accruing thereoo, shall be secured by this.modgage. 13. tha[ the toAiJing oE a written notice a demandaddressed to t6e owaer d tecad vf the matgaged pcemises, or directed to the'said ovvner et the last addresa actuslly furnished to the mortgagee, or directed to aaid awner at said modgaged premises, and mailed by tbe United States mails, shall be saEfictent notice ~nd demand in any cas~ arisina under this iastcumeat aud required by the pcovisioaa hered oc by law. 14. 'I'tie modgegor fnrther coveaants that shonld this mat age and the nde secnccd h~ceby aot be eligibk for iasurance undes the Natioaal Housia~ Act withie from tbe~d~te hered (written statement of any oHicer d tbe Depactment af Housing and Urban Devel Qm~ or outhocised ageat af the Secretary aE Hous- ing and Urban Development dated subseq~sent to~ ti,y~, 17AT.~ . time fcom the date af this moitQpte, ~ decliaing to insure said nde aud this ~ortgpge. being ~eemPd conclnsive p~oof d such iaeli~ibility), t}ie mo:tgo- ~ gee or the holder af tlx note may, at its optioo, declare all sums secured bereby immediately due and payoble. The covenaats herein contained shatl biad, and~ the benefit~. and odvaatagea sball iuure to. the respective heirs, executas, adminiatratocs, successas, and essigns d fhe porties herato. Whenever used, the singular nuio- ber shall inclnde the plural, the plural the singular, and the use of any gende~ ahall i~ulude all geaden. ~ iflOlf , . _ _ . _ , ~ ,°'xY ~ -"K ~c_~_i t~'~~n y~' ,.-y&m{y,~ 4 X. ~ . . eY' . ~