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Home My WebLink About2733 . r~t . ; l~•~'•~'! , ~ ~ . S. That he will pe~mit. commit, ot Rutter no waste. impeirment. or dete~iorotion of said pcopeny oc any p~~t thereof; and in the event ot the teilute vf ~the ~?ottsag,or t0.~p the bujldings o~ seid promiscs and those tobe erccted on said premises, or imptoveAetts Ihle~oe, in dddl'~ ir. the mortgagee may nwke such repairs as ie its discretioe it may deem oecessary for the p~oper peesenratioe theMd, and the tull emount of each ond every such poyme~t shell be imenediately due ~nd pwyable. aod shail be secuced by the lien of this mortgege. 6. That he will poy all end singula~ the custs. c}?arges. end expenses. including reasooable lawye~'s ters. aed costs ot abstracts of title, incur~ed « paid at any time by t6e mortgaeee because of the failure on the pert o[ the mongagoc p~omptly and (ully to perEa~o the agceements ood coveaants of said ~promissory ~ote and this mort- gage, end said costs. charges, and expenses shall be immediately due and payable and shall be secured by the lien d this matgage. 7. That he will keep the improvements now existi~g or hereatter erected on the mortgaged pcoperty. insured as may be required from time to time by the muctgagee against loss by Eice and othe~ basards. casualties. end contin- gencies in such amounts and for such periods as may be cequiced by matgagee. and will poy promptly. when dne~ any premiua~ on such insurance for peyment of which pcovision has not been m~de heceiebefoce. All insurence shall be carried in companies approved by matgagee aad the policies aed -renewals theteof shall be held by mott- gagee and have attached thereto loss payable clauses in favor of and i~ Eorm acceptable to the mortgegee. In event of ~ loss he will give immediate notice by mail to moctgagee. and mortgagee may a~ake proof of loss if not raade promptly by mortgagor.- and each i~surance company concerned is hereby authorized and directed to make payment Eor such loss di~ectly to moctgagee i~stead of to mottgagor and matgagee jointly. and the insurence pro- ceeds. oc any part thereof. awy be applied by matgagee at its option either to the reduction of the indebted~ess hereby seciued or to the restocation a repair oE the property damaged. In event oE foreclosure oE this modgage oc other transfer of title to the mortgaged propecty in extinguishment of the indebtedness secured hereby. all tight. title. and intecest of the mo~tgager in and to any insurance policies then in force shall pass to the pucchaser or . gtantee. , 8. That the mortgegee may. ot any time pending a suit upon this mortgage. apply to the court having jurisdic- . tion thereof for the appointment oE a~ receiver. e~d such court shell forthwith appoint a receiver of the premises covered hereby all aad singular. including all and singular the income. profits. issues, and revennes from whatever source derived. each and every of which. it being e:pressly understood. is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof. and such receiver shall have all the broad and efEective functiats aad powers in aeywise entrusted by a cowt to a receiver. and svch ~pp0ihtment shell be aiade by such court as an edmitted equity and e matter oE absolute right to said matgag~, and ~vithout reference to tbe adequacy or i~adeqyac~ of the value of the propedy mortgaged oc to the solvency or insolvency of said matgagoc . or the defendents, a t~t su~M"_teqts~ p~CEits. income. issoes, and reve~ ~lell.~ej~p such ceceiver according to the lie~ oE this mortgagt anA~he practice of such court. In the eveht oE afiy de~aif on the part of the mortgagor hereunder. the matgaga~~gcees.i~ pey to the mortgagee on de~nand as a reasa~bl~noethly cental for the premises an amonnt at teast eqµivalent to oae-tvvelfth (1/12) of the ~gg~ggete of the h~l~te monthly install- ments payable in the then cumat yeat plus the actual amount of the annual ta:es, assessments. arater rates, and . insurance premiums for such yeac ad cvvered by the aforesaid monthly paymeats. 9. That (a / in the event of any breach of this mortgage or default on the pert of the mortgagor. or (b) ia tt~e event that any of said sums of a~oae~: hereit~ referred to be not promptly and fully paid withoat demand or notice, or (c1 in the event that each and eveiy .the stipulations. agreements. conditions, and covenants of said note and this mortgage, are not duly. promptly, and fully performed; then in either oc any such event. the said aggcegate sum mentioned in said note then remaining unpaid, with iaterest accrued to that time. aad all moaeys secured hereby, shall become due and payable Eocthwith. ar thereafter, at the option of said matgagee. 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 mortgage to the contrary notwitlLStanding; snd therenpon or tuereafter, at the option of said mortga- gee, without notice or demand, suit at law or in equity. may be prosecuted as if all moneys secured hereby had matured prior to its institution. The mortgagee may foreclose this mortgage. es to the amount so declared due and . payable, and the said premises shell be sold to satisfy and pay the same together with cocts. e:penses.and allow- ances. In case of partial foreclosnre of this mortgage. the mo~tgaged premises shall be sold subject to the con- ~ tinuing liea 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 thereaker from time to time by the morigagee. i 10. That the mortgagor will give immediate notice by tneil to the mortgagee of any cotrveyance. transfer, or ~ change of ownersbip oE the premises. 11. Thet no waiver of any covenant herein or of the obligation secuced hereby shall at any time thereafter be ~ held to be a aaivec of the terms hered or of the note secnred hereby.' - 12. That if the mortgagoc default in any oE the covenants oc agreemeats contained hereia. or ia seid note. then the mortg~gee may pedorm tfie samg, and all expenditutes (including reasonable attoraey's fees) made by tl~e mortgagee in so doing shall dravv interest at the rate set forth in the note sec~u~ed hereby~ and s6a11 be repayable immediately and without demand by the mortgaga to the moctgagee, end. together with interest and costs accruing thereoa, shall be secured by this modgage. 13. that the mailing of a~vritten notice oc demsndaddressed to the owner oE record of the moctgaged premises, or directed to the said o7vaer at the last address actually furnished to the mortgagee, or directed to seid awner at said modg,aged pcemises, and mailed by the United States mails, shell be saffuient aotice and demead in anq case arising under this instrument sad required by the provisians hereof or by law. 14. The mortgagor fmther covenants that shonld this matga e and tbe nde secnred hereby not be eligible ~ for insurance uader the Natiooal Housing Act vrithin ~~Y~ frc~m the dote heceof (written statea~eat ~ of an officer of the De rtment of Housi and Utbea Devel y pa ng opment or authorised agent af tbe Secretary of Nous- ~ ing and Urban Ikvelopment date~d subse~uent to~ the ~ QAYS time Erom tbe date oE t6is mortgpge, declining to insure said'ade and this~moctg,oge. ~beiag deeawd canclusive pcoof of such ine~igibility); tbe moctga- ~ gee or the bolder d tbe note may, at its option, declare all sums secured hereby immediately due aad payoble. The covenants herein contained shall bind. and tbe benefits and advantagea shall inure to, tbe respective heirs, e:ecutors, administrators, successas, and essig,ns of the podies hereto. Whenever used, the singular num- ~ ber shall include the plural, the plural the singular. and the use of any gender shall include all gendecs. . ~ ~188 ?~2728 . ~ ~i88 ~2~3 - _ _ , . . - ;