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Home My WebLink About2405 c . t:. ~ . 5. That he will permit. commit. or sulte~~p,~p~e~; i~ ~~n~p~?.,Qt deter ~ ation of P id pcope~ty oc any p~ct thereot; and in the event of the [ailuce of t 1n ~c to k ~~~buildin s oe seid remises and those tobe etected on said ptemises~ or improvements theceon. in good cepeir. tfie mottgagee may awke such ~epeic~ as in its disccetioa it aty deem necessary Eor the proper pceaervat~on thereot. and the full amouot of each and every such payment shall be immediately due and payable. and shall be secuced by the liea oE this moctgege. 6. That he will poy all and singular the costs. charRes. aud expenses. including re~sorteble lawyer's fees. a~d costs of abatracts of title. incurred or paid at any time bythe mortgagee because of the fsilure o~ the pert of the mortgago~ pzomptly and fully to perfo~m the agceements and covenants of said'promissory note and this mott- gage. and ~aid costs. chacges. and expenses shall be ima~ediately due artd peyebia and shalf be secured by the lien o[ tbis mortgage. 7. That he will keep the imp~ovemeats ~ow existing or hereaftec erected on the modgaged p~opetty. inaured as may be required froea time to time by the matgagee against loss by fire aiul other hazards~ casualties. and caiti~- gencies in such amounts and for such periods as mey be required by mortgagee. and will p~y pwmptly. when due. any premiua?s on such insurance for peyment of arhich pcovision has not been made hereinbefore. Alf in'snrence shall be carried in companies appcoved by matgagee and the policies and re~ewals thereof shall be held by mat- gagee eed have ettached thereto loss peyable clauses in fava of and in form acceptable to the mortg,egee. In ~ event of loss he will give immediate notice by mait to mortgagee. end moctgagee a~ay make proof of loss if not made promptly by moctgagor. and each insucance company concerned is heieby authaized and directed to make p~yment for such loss di~ectty to mortgagee instead of ta mcxtgaga and moctgagee jeiatly, end the insucance pro- ceeds. or eny part theceof, awy be applied by mortgagee at its oQtioa either to ibe reduction of the indebtedeess hereby secured or to the restoration oc cepair af the property dsmaged. In event of faeclosure oE this moctgage a othe~ transEer of title to the modgaged property in extinguishment of the indebtedness secured hereby. all right,- title, and intetest of the moetgagor in and to any insurance policies then in face shall pess to the purchaser or gra~tee. - 8. That the mortgagee may, st any tia~e pending a suit upon this mortgage, apply to the court having jurisdic- tion thereof for the eppoiatme4t_ of a receiver. and such court shall fodhwith appoint e receiver of the premises covered hereby all and singulac, iacludiag all and singular the income, ptofits, issues, and revenues from whatever source derived, each and every of which. it being exp~essly understood~ is heceby,~p~t 6qd pe•if specificelly set ~ fodh and described in the granting and habendum claoses hereof, and snch ceceiv~! s~li have all the broed end effective functions and powers in anywise entrusted by a court to a receiver. and such appointment shall be made by such coud as an admitted equity and a matter of absolute right to said` ~,ag~ h y~ reEerence to the adeqnacy or inadequacy of the value of the. propedy moctgaged o~ to the 's~~e~Cy o~ il~r$b~~Of said rnortgago~ _ or the defendents. and that sucb reats, profits, .income, issues, and cevenues shall be~y such receiver according to the lien of this mortgage and the practice of such coud. In't1rG eveat of auy.default oa the part of the modgagor heceunder, the matgagor agrees to p~y to the ~nortgagee on deman~ ae a cepsaWb~e monthly rental for the premises an amount at least eq~ivalent to one-tweUth (1112) of tbe e~ggreg~ate of tbt twelve monthly instatl- ments payable in the then current year plus the actual amount of the annnal taxea~ assessmeiits, watec cates. and insurance premiums for such year not covered by the aforesaid monthly peyments. . 9. That (a) in the event of any breach of this modgage or default an the ped of the modgagor, or (6) in the event that any oE said sums of money herein referred to be not pro~aptly snd fully peid withont demand or notice. ; or (cl in the event that each and every the stipuLatioas, agxeemeats. conditions, and covenanta• of said note and this mortgage, are not duly, promptly, and fully performed; then in either or any such event, the said aggcegate sum mentioned in said note then remaining unpaid. with interest accrned to that time. aad all moneys secured hereby, shall become dne and payable forthwith, or thereafter, at the option of said matgagee, as fally and com- pletely as if all of the said sums of money were origiaally stipulated to be paid on snch dey, anything in said note oc in this modgage to the contrary notarithstanding; and thereupcm a theceafter. at the optioa of said matga- gee, without notice or demand, suit at -law or in equity. mey be proaecuted as if all moaeys secured hereby had matured prioc to its institution. The mortgagee may Eoceclose this mortgage. as to the amouat so declared due and ~ payable, and the said pcemises shall be sold to satisfy and pay the saeie together ~vith costs, expeases,and allovr- ances. In case of pertial faeclosuce of this mortgage. the mortgaged pcemises shall be sold subject to the con- tinuing lien of this matgage for the amouM of the debt not then due and unpaid.~ In such case the provisions of ~ this peragraph may again be availed of thereafter from tiaie to time by We mortgagee. ! 10. That the modgagoc will give immediate notice by mail to the modg,sgee of any conveyaace~ transfer, oc € change of owaership af the pcemises. ~ 11. ~'hat no waiver of aay covenant herein ot of the obligatioa secuced hereby shell at any time thereafter be held to be a waiver of the terms hered or of the note secured hereby.' ~ l2. Ti~at if the martgagor default it~ any of the covenaats or agreemeats conteined herein, a in said note, then ~ the mortgagee may pedorm the samg, and all expenditu=es (including reasonable ettaney's fees) made by the mortgagee in so doing shall dra~v intecest at tbe cate set focth in the aote seeured 6ereby, and shall be repeyable ~ immedietely and.without demand by the neodgaga to the modgagee, and. together with iaterest and~ costs accruing ~ thereoo, shall be secwed by this modgage. 13. that the maili~ of a written notice a demandaddressed to the owner of record of the mortgaged premises. ~ or directed to tlse ssi~l oaner at the last address ectually fnrnished to the matgagee, or directed to said owner et i said owrtg,aged•premises, and mailed by the United.States mails, shall be sutficlent notice and demand in any ` case arising under this instrumcnt end cequired by the provisioas hereof or by law. ~ 14. The nwrtgagor further covea4nta that should this matgage and tl~e note secured he~eby not be eligible ~ for iasurance under the Natiawl Housing_ ACZ ,w~thin . ftom t6e date bereof (wcitten statement - ~ any officer of tLe Departmeat of Housing and Uibed Development or authorized ageat of the Secretqry of Hous- ~ ing and Urbaa Qeve,lopment dated subsequent, to the time from the date of this mortgpge, . decliaing to insure said note aad this mo~tg,age, beiag deemPd coaclosive pcoof af such iaeligibility), the moctga- gee or the holder d the note mey, at its option. declere all sums secured bereby immediately due and paypble. F The coveaants herein coatained ahall bind, end tl~e benefits and advacneges shall inure to, the nspective i heirs, executors, edministrators, successors, and assig~s d the padies hereto. Wheaever used, the singuler num- i bec shall include the plural, the plural the singular, and the use of any gender shall include all genders. i i . : ~ . ~ ~ ' t _ , . • r i ~ ! S € ~ ~ , s , . = ~ . . - ~ - - - _ ~ , ~_x ~-''~°x _